InstaForex Review

InstaForex is founded in 2007, headquartered in Russia and regulated by CySEC in Cyprus and FSC in British Virgin Islands.  My experience with InstaForex dates back to 2011. I came across with this broker upon my research for a new broker after the firm I used to trade with lost their FCA license and my loyalty still continues. I still have an active trading account with InstaForex where I trade occasionally.

InstaForex is among very few forex brokers that offer all ECN, Swap-Free, Nano and managed account types in one place for traders. Customer care team is really attentive and speak many languages. You are going to get only 0.3 pips spread on EURUSD if you open a Eurica account which is remarkably low. Last but not least, negative balance protection ensures that you are not going to owe to the broker more than you deposited. A very good broker in every respect.

Is InstaForex Reliable?

A Russia-based ECN brokerage company, the InstaForex has been active in the Forex market since the year 2007. Operated by two different companies, one of the companies administering InstaForex is registered offshore whereas the other one was is registered in Europe and is regulated by the Cyprus Securities and Exchange Commission or CySEC.

One of the things that make InstaForex really proud is the fact that more than 2 million traders across the globe use their platform to trade. Most importantly, the clients of the brokerage are increasing at the rate of 1000 new account openings every day. The brokerage allows you to trade on different products. It offers you 88 CFDs on US stocks, 107 Currency pairs, Bitcoin through MetaQuotes platform as well as different futures and commodities.

It is not hard to imagine how hugely popular InstaForex is among its customers. Due to the extraordinary service this company offers, it has been awarded the prestigious Best Broker in Asia award by the World Finance and British Magazine for three consecutive years. Other than that the broker has also won several significant awards and accolades from different mass media giants like CNBC Business Magazine and European CEO. Famous for its achievements, the milestones achieved by InstaForex are continuously exhibited in several popular exhibitions like ShowFX World and ShowFX Asia.

InstaForex Account Types

With InstaForex, you will be able to get a choice of four different account types. The account types can be divided into two major categories; the first being Standard type and the second is named as Eurica. All of these account types are easily accessible with just a deposit of $1 and they provide leverage up to 1:1000. Furthermore, these account types come with the cent and micro account options and offer an annual interest rate of 5%.

The standard accounts are obviously commission free and they offer fixed spread. However, the Eurica ones offer you to trade without spread which is really unheard of. But with the Eurica accounts, you will have to pay a certain amount similar to 3 pips a spread as commission.

Moreover, InstaForex also provides swap free or Islamic services. You will also get the PAMM service which allows you to invest in portfolios that render investment services. PAMM service allows InstaForex clients to invest in portfolio managers’ accounts and to accept investments from other InstaForex traders’ accounts.

InstaForex Customer Support

InstaForex is known for providing one of the best customer support in online forex trading industry. You will be able to get the required help through email or telephone 24/7 throughout the year. Furthermore, you can also reach out to them through chat from 7:00 to 16:00 UTC. The best thing about InstaForex is that it offers different from telephone numbers for different departments. As a result, you will be able to reach the respective department you are looking for without having to wait.

InstaForex Trading Platform

One of the most interesting things about InstaForex is that it offers you both MetaTrader 4 as well as the advanced MetaTrader 5 trading platforms.

MetaTrader 4 is a widely acclaimed trading platform which offers a variety of trading tools, more than 50 inbuilt indicators, an efficient charting package and a plethora of Expert Advisors or EAs as well as back-testing options. With this platform, traders only need to download it, set their expert advisors and the MT4 will do all the work for them.

InstaForex also offers VPS hosting to ensure the smooth functioning of EAs. Furthermore, the VPS can be obtained for free by traders having an account balance of 5000 USD.

The broker also offers you the highly advanced as well as versatile MetaTrader 5 platform. The MT5 platform has been gaining huge popularity lately as the platform recently added efficient hedging options along with several other features. With the MT5 platform, you will be able to execute several orders in different financial markets and exchanges without any hassle. The platform also comes with advanced EAs, charting packages, alerts, customizable indicators and signals.

Apart from that, this brokerage also provides you with Forex Copy System. This feature allows you to copy orders from successful traders. Every trader who uses the Forex Copy System may follow the trading strategies by selecting respected traders from a publicly available monitoring list to achieve success.A Forex Copy Trader allowing others to copy the trade will get commissions on either per day basis or on the profit obtained from the trade. If you choose the latter one then you will have to only pay for the profit that you obtain from the trade.

InstaForex Deposit and Withdrawals

While InstaForex allows you to use different payment options, it makes it mandatory for you to use the method that you have used for depositing to withdraw money. The payment can be made using credit cards, bank wire, InstaForex debit card, Skrill, MoneyBookers, Neteller and a plethora of other options. But there are few payment options which may charge some fees on transactions. You can also use Bitcoins to invest money without any transaction cost.

InstaForex Bonus and Promotions

• LFC Partnership Bonus 100% – You get 100% bonus on your first deposit. This is bonus cant be used concurrently with other types of bonuses. 100% bonus is credited to your account instantly after you complete the application.
• Welcome Bonus 55% – This bonus works each time you make deposit into your account. 55% bonus is credited to your account instantly after you complete the application.
• Welcome Bonus  – $30 bonus is credited to your account instantly after you complete the application.
• InstaForex Club Bonus – Additional bonuses for members of InstaForex Club. This type of bonus can be used with other types of bonuses.

InstaForex Final Word

InstaForex has become a popular name in the industry with the extraordinary services that it offers. And the brokerage continues to amaze traders by adopting new technologies and features into its system to allow the traders to achieve success from their trades. Though it is not bound by any huge regulation, it still offers maximum security and options which make InstaForex a worthy choice.

InstaForex – Step by Step Live Account Opening Guide

Just like most of the other forex brokers, opening a live trading account with InstaForex starts with going to the Broker’s web site. At homepage, click the “Instant account opening” button at the header. Following the click, the registration form will appear.

Step 1 – Fill the Registration Form

This is a very quick form that requests your basic personal information such as your first name, last name, e-mail address, phone number and country. Press the green “Open trading account” button after you filled the form properly.

Step 2 – Verify Your InstaForex Live Account

InstaForex live account opening process is different than other brokers in a way that you will receive the trading account login information right after you have filled the registration form.

You are allowed to download the trading platform and fund your account to start trading directly. However, we urge you to validate your account prior to funding your account since you will have to do it when you want to withdraw money.

For verification, you must login to the client cabinet and complete your profile first. Click to the “Verify Account” under Verification menu once you are logged in to the client panel.

You need to complete the Personal information form where you will submit your date of birth and full address. The address must be same as the one on which the utility bill or bank statement that you are going to upload.

Next, scroll down on the verification page in order to upload the documents for proof of identification and proof of address. You can upload copy of your passport or driving license for the proof of identification and certificate of residence, bank statement or utility bill for the proof of address.

• Proof of Identification; passport or driver’s license
• Proof of Address; certificate of residence, bank statement or utility bill.

InstaForex demands you to upload the copies of those documents in proper format and requirements. For instance, scanned copies must be clear and in colour and you must submit both sides of identification document.

InstaForex does not accept electronic bank statements and utility bills. The copies must be scanned versions of the hardcopies. Besides, make sure that the document is not older than 3 months.

The verification could take up to 72 hours, however it is usually much faster granted that you have submitted your information and uploaded the documents in the requested way. Now, we recommend you to download the trading platform, deposit funds into your account and start trading forex with InstaForex.