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Overall

Despite an attractive looking website with numerous sports sponsorships and flashy marketing, InstaForex is a simple MetaTrader only broker that is minimally regulated, expensive, and overall provides traders a weak offering.

By Blain Reinkensmeyer / May 30th, 2018 / Updated: October 3rd, 2018

help 68
Trust Score
Dislikes
  • Default MetaTrader platform offered with no premium features
  • While InstaForex is authorised by the FCA, it is not regulated by the FCA

Review Sections:

InstaForex was founded in 2007 by InstaTrade Corporation, offering forex, CFDs, and binary options trading as a MetaTrader only broker. In total, 88 CFDs are offered alongside 107 currency pairs.

While not a factor in our review of InstaForex, the firm is known for its marketing sponsorships across various sports. Since its inception, InstaForex claims on its website that over seven million traders have opened accounts.

Is InstaForex a reputable fx broker worth trading with? Read on to find out.

Trust Score

Trading with a forex broker traders can trust is crucial to success. Unfortunately, forex fraud and scams are common in the industry.

Here at ForexBrokers.com, we maintain the largest independent regulatory database available on the web. Using 28 different variables, we have created a proprietary 1-100 score (the higher the better) of overall trustworthiness, which we call the Trust Score. Here is our trust summary of InstaForex.

Instaforex
Trust Score68
Year Founded2007
Publicly-Traded Company (Listed) No
Regulated in Major Hub Yes
Regulated in Emerging Hub No
Authorised in the European Union Yes
CFTC Registered (USA) No
FCA Regulated (UK) No
IIROC Authorised (Canada) No
FINMA Authorised (Switzerland) No
ASIC Authorised (Australia) No
SFC Authorised (Hong Kong) No
MAS Authorised (Singapore) No
FSA Authorised (Japan) No
FMA Authorised (New Zealand) No
CySEC Authorised (Cyprus) Yes

Offering of Investments

The following table summarizes the different investment products available to InstaForex clients.

Instaforex
Minimum Initial Deposit$1
Currency Pairs (Total Forex pairs)107
CFDs - Total Offered88
Exchange Traded Securities: US No
Exchange Traded Securities: International No
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Commissions & Fees

InstaForex offers two main account types: Insta.Standard (ECN / non-dealing desk) and Insta.Eurica (dealing desk). Both accounts have only a 1 USD minimum deposit.

With Insta.Standard accounts spreads average between three and seven pips depending on the pair. There is no commission for Insta.Standard accounts; instead, the commission is built into the spread.

Contrarily, Insta.Eurica accounts charge a commission for trades, which varies between 0.03% - 0.07%.

For example, InstaForex lists a spread of three pips on the EUR/USD for Insta.Standard accounts, meanwhile in an Insta.Eurica account, there is no spread listed. Instead, the commission is built in, which equates to an all-in cost of three pips. All in all, both account types charge nearly identical prices.

Instaforex
Average Spread EUR/USD - StandardN/A
All-in Cost EUR/USD - ActiveN/A
Active Trader or Premium/VIP No

Research & Education

When it comes to market research, InstaForex provides a mixed offering. Highlights include InstaForex's daily market analysis blog posts, technical analysis posts via MT5, and InstaForex TV, InstaForex's video offering, which, on average, produces four to six forex news videos each day. Interviews, weekly reviews, and other educational videos are also available.

instaforex tv

The primary drawback to InstaForex's research offering is its lack of third-party research tools and services.

Research aside, education primarily includes videos, a glossary, and a variety of very basic articles (text only) on forex trading. If there is one feature we'd like to see InstaForex add, it'd be a regular webinars schedule and the ability to view previous webinars on demand.

Instaforex
Daily Market Commentary Yes
Forex News (Top-Tier Sources) No
AutoChartist No
Trading Central (Recognia) No
Delkos Research No
Acuity Trading No
Social Trading / Copy-Trading Yes
Social Sentiment - Currency Pairs No
Client Webinars No
Client Webinars (Archived) No
Videos - Beginner Trading Videos Yes
Economic Calendar Yes
Calendar Includes Forecasts No
Economic News Sentiment No
Trade Ideas - Backtesting Yes

Platforms & Tools

InstaForex is a MetaTrader4-only broker. This means it offers the MT4 platform suite from MetaQuotes Software Corporation, developer of the widely popular MT4 and MT5 platforms for desktop, mobile, and web. To learn more about MT4, read our full MetaTrader guide.

While MetaTrader 4 comes standard, with little that varies from broker to broker on the surface of the platform, there can be significant differences in how the platform is set up when it comes to trading spreads and commissions, the available execution method, and other tools, features, and administrative areas that can affect your trading experience.

instaforex metatrader

Unfortunately, for InstaTrader clients, the MetaTrader platform (branded as InstaForex) comes with only the default functionality. Furthermore, there are no other third-party platforms or plugins provided to traders.

Instaforex
Virtual Trading (Demo) Yes
Desktop Platform (Windows) Yes
Desktop Platform (Mac) No
Web Platform Yes
Social Trading / Copy-Trading Yes
Proprietary No
MetaTrader4 (MT4) Yes
MetaTrader5 (MT5) Yes
cTrader No
Currenex No
ZuluTrade No
MirrorTrader No
Charting - Drawing Tools (Total)31
Charting - Indicators / Studies (Total)51
Watchlists - Total Fields7
Order Type - Trailing Stop No

Mobile Trading

Since InstaForex is a MetaTrader-only broker, iOS and Android versions of the MetaTrader 4 mobile app come standard and are both available for download from the Apple iTunes store and Android Playstore, respectively.

Instaforex
Android App Yes
Apple iOS App Yes
Charting - Draw Trend Lines Yes
Charting - Can Turn Horizontally Yes
Charting - Technical Studies/Indicators30
Watch List Syncing No
Trading - Forex Yes
Trading - CFDs Yes
Alerts - Basic Fields Yes

Other Notes

Forex traders considering an account with InstaForex should be aware that while the broker is FCA licensed, it is not FCA authorised and regulated. Because of its CySEC (Cyprus) authorisation, InstaForex is passported through to the UK, meaning it can accept UK residents. However, it has yet to receive formal FCA authorisation, which negatively impacts trustworthiness (see section, "Trust Score" above).

Final Thoughts

Despite being in business since 2007 and offering a website that is well designed and full of advertising sponsorships to suggest that InstaForex is a reputable, trustworthy forex broker, our research does not back up the broker's claims.

InstaForex is minimally regulated and has yet to receive reputable operating licenses in Europe, for example from the FCA (UK). Regulation aside, InstaForex only provides its clients with the default MetaTrader experience, and despite offering its own video content through InstaForex TV, the providing research is weak compared to industry leaders.

ForexBrokers.com does not recommend InstaForex. View our guides to the best FCA brokers and CySEC brokers.

Forex Risk Disclaimer

"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses."Learn more.


Blain Reinkensmeyer

Reviewed by Blain Reinkensmeyer Blain heads research at StockBrokers.com and has been involved in the markets since placing his first stock trade back in 2001. He developed StockBrokers.com's annual review format six years ago which is respected by broker executives as the most thorough in the industry. Currently maintaining funded accounts with more than a dozen different US regulated online brokers, he's executed thousands of trades through his career and enjoys sharing his experiences through his personal blog, StockTrader.com.

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Ratings Overall

Summary

Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Education

Best in Class


Commissions & Fees

*Instaforex did not participate in the 2017 Online Broker Review, as a result the following data may not be up to date.

Commission Notes

None. See review above.

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 4/03/2018 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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