Written by: Edith B.
Recommended for: forex trading 3.9/5
Trusted broker: Regulated by top-tier financial authorities
Updated: DEC,2022
Popularity: 1978 people chose this broker in the last 6 months
BrokerChooser Score: 3.9/5
InstaForex review summary
InstaForex is a popular Internation Forex Broker that brings a solution from the world’s leading developers allowing you to perform trading facilitated through the largest counteragents providing direct access to the market.
- InstaForex was established in 2007 with its headquarters in Limassol, Cyprus yet serves clients worldwide and at the moment number of traders who choose InstaForex exceeds 7 million, which is an impressive number.
General InstaForex priority is to provide a wide range of services while at any stage trader is rightfully treated. Along with quite powerful technical solutions among the market offering and other advantages like being suitable for beginning traders, the broker promises personal approach to each client with comprehensive educational and customer support services.
Is InstaForex a legit broker?
See how InstaForex is regulated and whether you should have any concerns using it.
InstaForex pros and cons
Pro
Cons
- Recognized and regarded broker worldwide
- Numerous deposit methods and low deposit requirement
- Professional education and analysis
- Conditions and trading costs may vary according to entity regulations
- Spreads are high for some instrument
InstaForex main highlights
| Country of regulation | BaFin, AFM, MFSA, Cyprus, Greece, UK, Czech Republic |
| Trading fees class | Low |
| Inactivity fee charged | No |
| Withdrawal fee amount | $0 |
| Minimum deposit | $0 |
| Time to open an account | 1 day |
| Deposit with bank card | Available |
| Depositing with electronic wallet | Available |
| Number of base currencies supported | 10 |
| Demo account provided | Yes |
| Products offered | CySEC, BVI FSC, FSC |
Fees
InstaForex has low forex and non-trading fees, including no inactivity or account fees. However, CFD financing rates are high for a few assets.
Account opening
InstaForex account opening process offers a rewarding experience. It is fully digital, user-friendly, and requires no minimum deposit for the Standard account.
Deposit and withdrawal
InstaForex provides plenty of deposit and withdrawal options, as well as a wide selection of account base currencies. However, there is a high, $20 fee for bank withdrawals for clients outside the EU and Australia.
Web trading platform
InstaForex web trading platform is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and its design is outdated.
Mobile trading platform
InstaForex has a great mobile trading platform offered by MetaTrader 4. It is well-designed and user-friendly. However, it lacks a safe login.
Desktop trading platform
In design and functionality, InstaForex MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts on the desktop trading platform.
Markets and products
At InstaForex you can only trade forex and a range of CFDs (commodity, stock index, ETF, share, and crypto CFDs). This means that many popular asset classes such as real stocks and ETFs are missing.
Research
You can find trading ideas based on technical tools and read market reports written by InstaForex research team.
Customer service
InstaForex customer service is great. You can reach them on several channels and will get quick and relevant answers.
Education
InstaForex has great educational materials. You can use demo accounts, participate in webinars and watch educational videos.
Safety
InstaForex is regulated by 7 national authorities including top-tier regulators such as the FCA in the UK. At the same time, the company is not listed on any exchange, does not disclose financial information and does not have a bank parent.
