Note: InstaForex's official website: https://www.ifxglobes.com/ is currently inaccessible normally.
InstaForex, established in 2022 and based in the United Kingdom, operates as an unregulated entity. It offers trading on currencies, shares, indices, metals, oil & gas, commodity futures, cryptocurrencies, and Insta Futures through the MT4 and Web trading platform. However, as of now, it has no valid regulations. Their website is also unavailable.
Pros and Cons
Is InstaForex Legit?
InstaForex is flagged as a “Suspicious Clone” by the Financial Services Commission (FSC) in the Virgin Islands, indicating concerns about its legitimacy and potential impersonation of a reputable entity.
What Can I Trade on InstaForex?
InstaForex offers trading on forex, CFDs, indices, futures and cryptos.
Account Type
InstaForex offers Insta.Standard Trading Accounts, Insta.Eurica Trading Accounts, Cent.Standard and Cent. Eurica Trading Accounts.
Insta.Standard Trading Accounts are suitable for standard trading conditions without any fees. Traders can trade with Micro Forex (minimum deposit $1), Mini Forex (minimum deposit $100), and Standard Forex (minimum deposit $1 000).
Eurica accounts allow trading at a significantly lower volume - Micro Forex, with a lot volume of 0.0001 of the market lot (0.1 U.S. cents).
Leverage
InstaForex provides a wide range of leverage options, ranging from 1:1 to an impressive 1:1000.High leverage can significantly boost potential returns, but it also magnifies risks.
InstaForex Fees
On InstaForex, the spreads and commissions vary depending on the account type:
- Insta.Standard Accounts: These accounts typically feature fixed spreads, starting from 3 to 7 pips for major currency pairs.
- Insta.Eurica Accounts: These accounts require 0 spread for most currency pairs, as the bid price is equal to the ask price.
For both account types, InstaForex does not charge direct commissions on trades.
Trading Platform
InstaForex provides MetaTrader 4 (MT4) trading platform. MT4 is renowned for its user-friendly interface, robust functionality, and flexibility, satisfying both novice and experienced traders.
In addition to the MT4, InstaForex also offers a Web Trading Platform. This web-based platform allows traders to access their accounts and trade directly from web browsers without the need to download or install any software.
Deposit and Withdrawal
InstaForex accepts payments viacredit/debit cards, bank transfers,e-wallets (Paypal, WebMoney, etc.) and cryptocurrencies (Bitcoin, Litecoin, Tether, Ethereum).
