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Today Instaforex claims to have over two million traders worldwide with about 1,000 new traders opening accounts with them every day.
Instaforex doesn’t base its headquarters in the usual places for financial trading platforms like Cyprus or the United Kingdom. It’s actually based in Russia which shows that you can still provide a secure and attractive option for executing trades in some surprising locations. It looks just like any website from one of the top-rated European-based brokers.
The Russian Association of Financial Market Members (RAFMM) regulates this broker. This ensures that you can trust the Instaforex website since it has an official license and must undergo specific measures to protect your personal data and maintain transparency of their own finances to a regulatory authority.
Instaforex’s MetaTrader 4 Platform
The most popular trading platform on the market, MetaTrader 4 (or MT4), serves as the main platform on the site. As a trader, you can execute offers and receive prices for the major pairs of currency, commodities, stocks, and indices. You also have the ability to perform technical analysis, receive news about the forex world, and read other people’s reviews of the broker.
On the MT4 platform, you get everything you need to do the technical analysis necessary and keep track of the behavior of financial assets on the market. You can trade forex, CFDs, and futures on Instaforex’s MetaTrader 4 system and take advantage of its reliability, convenience, and multi-functionality.
It runs on the Windows and Mac and be downloaded and installed easily on Apple, Blackberry, and Android mobile devices.
Finally, it allows you to work with a few Instaforex trading accounts simultaneously. So if you want to manage multiple accounts at a time, then it offers a multi-terminal advantage over most other (Swissquote, 24option and Trading 212) brokers.
Types of Instaforex Accounts
Instaforex divides the accounts they offer into three categories: Insta.Standard, Insta.Eurica, and two Cent accounts (Cent.Standard and Cent.Eurica).
Any type of trader can use the standard account which provides a range of deposit sizes for more convenience and affordability. With it, you get trades settled with a classical spread without any fees but can change the leverage. Choose to trade with the Micro Forex with the minimum deposit of $1 to $10, the Mini Forex where the minimum deposit is $100, or the Standard Forex with a minimum amount of $1,000.
With Insta.Eurica accounts, you don’t have a spread. Instaforex recommends this account for new traders because orders are executed exactly when the price meets its value if the spread equals 0.
Additionally, these accounts give you more room to learn the market with a simpler trading system. But more experienced traders are free to use them as well since the characteristics are the same as the standard account.
Due to a minimal trade volume requirement, Instaforex designed the Cent.Standard and Cent.Eurica accounts for beginner traders as well. You can test your trading strategies with little risk and utilize the 0.0001 trade lots advantage they offer.
Otherwise, the terms for these accounts are the same as the other two respective accounts with the difference being the required deposit amount. Instaforex offers a chart to help you better understand the different accounts they have available if you need it.
You can also take advantage of a demo account if you still have some hesitation about risking real money with your trading skills or method. The demo account functions fully using the MT4 platform. You can try out 107 currency assets, 34 stock CFDs, futures CFDs, and commodities like gold and silver.
The site has provided a video explaining the process as well, but you may have a tough time understanding it depending on how heavy accents (like the speaker’s) affects you.
Instaforex’s WebTrader Platform
With the WebTrader trading platform available on Instaforex, you can execute trades directly from your web browser. This platforms combines the latest developments in the trading world and shares the same features with standard desktop applications.
WebTrader offers you a couple of modifications you can use depending on how you like to approach trading. With the classic approach, you’re offered a list of assets and price changes for every one of them, along with trend direction and traders’ positions. On the dashboard, a tick chart represents each of the assets and once another gets added it’ll update with all the changes happening on the market.
The webtrader platform is well organized and simple to use
With the chart approach, you get a candlestick chart, an OHLC chart, a tick chart, and trader position information on a chosen asset combined. You can also track the most recent news and analysis along with any quote changes.
Instaforex’s IFX Option Trade
Instaforex gives traders access to IFX Option Trade which is a downloadable application part of Instaforex’s platform. The program gives you a variety of possibilities with options trading and makes executing your trades more convenient and easier. After installing it, you can purchase or sell options and monitor trade history.
Instaforex’s Rates Viewer
With the downloadable forex rates viewer available on Instaforex, you can see any changes with currency on the market and keep abreast of what’s going on in the market. You access it from your desktop after installation. It appears as a small window and has a user-friendly interface.
Traders love this tool due to its reflection of currency pair rate movements–valuable pieces of information to have to help you make better buying and selling decisions. Unfortunately, Mac users don’t have the opportunity to try it out; it’s only compatible with Windows PC.
Other Features on Instaforex
Instaforex traders can read about security information as well as financial news, events and other financial matters in the Client Cabinet. This section gets daily updates of market analysis prepared by professionals within the brokerage company.
As a trader, you also get access to market signals analyzing and forecasts of fluctuations in pricing. Each signal gives you a summary that includes calculation formulas and practical usage tips. You can download the indicators and set them up within MetaTrader 4.
Instaforex also offers traders access to a forum strictly for account holders where you can read blogs and articles and use a currency calculator. The PAMM systems give you a chance to invest in forex by funding a PAMM account and becoming a shareholder or by accepting investments from other traders. Lastly, the innovative ForexCopy service allows you to follow and copy the trades of successful traders.
Deposits & Withdrawals At Instaforex
You must deposit and request a withdrawal using the same method of payment. Fund your account with credit card, bank wire transfer, Instaforex debit card, Neteller, Skrill, MoneyBookers and other online payment gateways.
The site mainly accepts rubles, British pounds, Euros, U.S. dollars. You can even use bitcoins to deposit which will process within three hours. Some of the payment options, however, come with fees attached.
Here’s a rundown of some of the payment methods and terms, according to their site:
- Bank cards like Visa, Mastercard, American Express, Union Card, STB, JCB Card, and Diners Club International are accepted. They come with a system fee and deposits get processed within 24 hours.
- Bank wire transfers impose a bank fee and an additional correspondent bank commission can be charged during the transfer process. Deposits should clear within two to four business days.
- MegaTransfer, Neteller, WeChat, AliPay, and Payco come with no fee and instant deposit approval. China Union Pay is also fee-free with instant deposit approval but is only available to residents of China.
- Other localized cards and e-wallets like Dankort and iDeal have differing terms and fees.
- Local bank wire transfers are available for residents of Malaysia, Indonesia, Singapore, Thailand, Bangladesh, Pakistan, India, Korea, China, and the continent of Africa with varying bank fees. Deposits made with this method usually process within one to two business days.
As for withdrawals, the terms and fees vary here as well depending on your withdrawal method. Withdrawal requests get processed Monday through Friday from 10 a.m. to 7 p.m UTC+3 time.
If you fund an Instaforex account with a credit card after the initial deposit, you can request withdrawal amounts of less than $300 through MoneyBookers or Skrill and over $300 through a bank wire transfer. It’ll take between one to four hours for your account funds to replenish.
Instaforex Customer Service Support
You have access to Instaforex’s customer support 24/7 and can contact them by telephone, email, or chat between 7:00 a.m. and 4:00 p.m. UTC. Different departments have different telephone numbers. This way, it’s easier to reach the person most likely able to help you without having to go through several representatives.
Bonus Features for Instaforex Traders
Instaforex offers several bonuses and promotions for both new and old traders. Special offers available include:
- 30% to 250% bonus for new traders upon the first deposit,
- 100% Liverpool FC partnership bonus available for all clients,
- 55% bonus on every subsequent deposit regardless of the amount,
- No-deposit bonus of up to $100 upon registration for new customers only (exact amount varies per client),
- Additional money prizes for deposits of $3,000 and up (prizes range from $1,000 to $10,000, with an annual prize pool of $50,000),
- And a discount club bonus up to 40% along with other special privileges of being a club member.
Some of these bonuses don’t extend to MetaTrader 5 accounts. And keep in mind that bonus and promotional offers are subject to change. So check out the Instaforex website for the latest offers.
Instaforex’s Educational Material
As a trader, you get access to training videos and courses as well as a program called Forex Trainer to test out your strategies on the MetaTrader platforms. The trading simulator there allows you to watch replays of your trades and get instant feedback on the profitability or stop loss orders activation.
You can also slow down the replays close to every candlestick and optimize your parameters if you want.
We’d recommend giving Instaforex a try if you’re interested. It’s made a nice name for itself since the company’s inception with several awards and honors dedicated to it including Best Broker in Asia at the World Finance Awards ceremony for a few years.
They’ve also received awards from media companies like CNBC Business Magazine and European CEO (which gave the broker its Best Retail Broker Award). And financial events like ShowFX and Jordan EXPO have showcased their work at exhibitions. Instaforex continues to be one of the leaders in the industry as far as the choices and features it offers traders.
You have your choice among a large number of tradeable assets as well as accounts and platforms that cater to both beginner and professional forex traders. And you have access to accounts containing many features and high leverage (usually 1:1000).
Unfortunately, U. S.-based traders aren’t allowed to use this broker. But if you live in a country that can accept Instaforex, then try your hand at the demo account before risking real money to get used to the platform and test out trading strategies.
- Regulated by RAFMM
- Offers many different account types
- Large number of tradeable assets
- Excellent website layout
- Trusted by users
- US traders not accepted
7 Binary Options review: Instaforex: 4 stars