Want to see if InstaForex is a legit broker? Is it safe to trade? It spread is high or low? How long to deposit or withdraw funds?
We provide answers to all the questions in this InstaForex Review.
We checked all InstaForex licenses and regulations to see if InstaForex scam or safe. We compared InstaForex fees like spread & commission from its live account to over 150 brokers, required time for deposit & withdrawal and many more findings all in this review.
What is InstaForex
InstaForex is a Forex and CFD broker, established in 2007 it operates firstly in Russian and then moved to Cyprus.
The company operates under the license issued by the local CySEC and additional enitities are based in offshore Belize and SVG.
|🗺️ Regulated in||Cyprus, Belize, SVG|
|🛡️ Is InstaForex safe to trade||Yes|
|💵 EUR/USD spread||2 pips|
|🏦 Deposit||Bank Wire, Cards, Skrill, PayPal, WebMoney, Neteller|
|💰 Minimum deposit||US$0|
|🏦 Withdrawal||Bank Wire, Cards, Skrill, PayPal, WebMoney, Neteller|
|💻 Trading platform||MT4, WebTrader|
License and regulation are the top keys to your fund security. We check two factors, what license broker carry with its background, and how are you protected in case things go wrong.
Is InstaForex legit
InstaForex is regulated by Cyprus CySEC financial authority, which is not top-tier regulator but aligned with ESMA guidelines.
Other entities are based offshore and are registered according to local registrations.
InstaForex licenses and status
|Entity||Registered in||Regulator||License no.||Status|
|INSTANT TRADING EU LTD||Cyprus||Cyprus Securities and Exchange Commission (CySEC)||266/15||Currently Regulated|
|Instant Trading Ltd (BVI)||BVI||Financial Service Commission BVI (FSC BVI)||SIBA/L/14/1082||Registered|
|Insta Global Ltd.||SVG||Seychelles Financial Supervisory Authority (FSA)||IBC24321||Registered|
Is InstaForex safe
InstaForex EU is considered safe because it is regulated by the CySEC.
However, main proposal of InstaForex operates through two entities both based offshore BVI and SVG that rather provide registration for financial broker than serious regulation which could be considered safe.
InstaForex compensation scheme
|Entity||Compensation Amount||Negative Balance Protection|
|INSTANT TRADING EU LTD||€20,000||Yes|
|Instant Trading Ltd (BVI)||No compensation||No|
|Insta Global Ltd.||No compensation||No|
We recommend you register your account with the EU and avoid trading with international entity due to lack of regulations
InstaForex provides negative balance protection via EU entity, but if your account is under international brands negative protection is not guaranteed
Markets and Products
At InstaForex you can trade Forex and CFDs on Commodities, Indices, Stocks, Bonds and Cryptocurrencies.
Instruments range is different in each account type InstaForex offers.
InstaForex has six account types Standard, ECN the same as Insta.Scalping account, ECN Pro ad VIP Accounts with different pricing models and trading size.
Islamic Accounts are available on request.
Login Account is via the official website, where you access online account area with full account management EU and international entity entry are on different domain addresses.
|Minimum Deposit||100 USD, EUR, GBP||100 USD, EUR, GBP||500 USD, EUR, GBP||5000 EUR, USD||–|
|Minimum Balance||–||–||–||20,000 EUR, USD|
|Spreads From||2 pips||0.0 pips||1.2 pips||0.8 pips||0.5 pips|
|Commissions||Zero Commissions||Minimum fee 0.02%||Zero Commissions||Zero Commissions||Zero Commissions|
Client Cabinet or Trader Cabinet is your online account management area, it is well organized and gives full control over funds, transactions and specification.
Fees and commissions
We ranked InstaForex fee levels as low for Pro and VIP accounts and average/ high for Standard account based on its Live Account Spread and compared to 150 brokers in our database.
The spread we collected for popular instruments from 6 markets and over 150 brokers
|Forex||EUR/USD||0.1-0.9||1-1.5||1.6 or higher|
|Indices||US 500||0.1-0.4||0.5-1.4||1.5 or higher|
|Commodities||Gold||0.1-0.4||0.5-2||2.1 or higher|
|Stocks||Tesla||0.1-0.5||0.6-1||1.1 or higher|
|ETFs||US Russell 2000||0.1-0.4||0.5-1.4||1.5 or higher|
|Cryptocurrencies||Bitcoin||0.1-0.5%||0.6-0.9%||1% or higher|
InstaForex fee structure is different in each account type.
Comparing the spreads charged for our test trades via Standard and Insta.Eurica accounts, Insta.Eurica spreads are 0 but you pay a commission from 0.02% depending on the instrument, which is competitive.
The Standard account spread compared to industry benchmarks, we find the spreads for all instruments to be average and high.
|Markets||Instruments||Standard||ECN||Insta.Eurica||Other brokers’ avg spread|
|ETFs||US Russell 2000||–||–||–||0.5-1.4|
InstaForex has low non-trading fees. There is no fee for deposit, or withdrawals, there is no inactivity fee, also conditions are different in each jurisdiction.
The trading conditions at InstaForex are good and are different depending on the entity regulations. You can deploy mostly all types of strategies including scalping, daytrading, EAs and hedging.
|Change Leverage Allowed||Yes|
For hedging, there are no time limitations for hedging positions.
For scalping, scalpers are welcomed, InstaForex has VPS servers in Russia and offers Free VPS service, run of Expert Advisors (EAs) is with no limits too.
Trading with Leverage is included, European clients can use a maximum of 1:30 and international can access even 1:1000. However, it is considered very risky.
InstaForex charges no deposit fees. You can use various account base currencies and deposit via bank transfer, credit cards, Bitcoin, and various e-payments. Likewise, deposits range may is different and even larger for international accounts.
A great point to admit, InstaForex process deposits and withdrawals very quickly it mentioned average deposit processing time is around 20 minutes only.
|Deposit Method||Funding Time||Fee|
|Bank Wire Transfer||Business day||0$|
|Credit / Debit Card||Business day||0$|
|Bitcoin via Skrill||Business day||0$|
The minimum deposit is different for each InstaForex account type. Standard account and Eurica account require 100$, ECN and ECN Pro accounts will need 500$ and VIP account denominated for 20,000$.
Similar to deposits InstaForex offers different methods in each entity and charges no fees for some withdrawals. However, popular payment options will add on withdrawal fees.
InstaForex process withdrawals within 1 business days and shows average speed of 4 hours for confirmation, plus the extra days to reach your account due to provider.
|Withdrawal Method||Withdrawal Time||Fee|
|Bank Wire Transfer||Up to 14 business days||1.8% + 0.05 EUR|
|Credit / Debit Card||3-5 business days||Min 5 EUR|
|Neteller, Skrill||Instant||1 EUR, 1%|
|Sofort||Instant||Min 5 EUR|
InstaForex offers bonuses solely through its international entities and European traders are limited due to regulations. International traders can get various bonuses including deposit bonus, monthly promotions, club deposits and more.
InstaForex mainstays on MetaTrader4 popular technology offering Desktop, Mobile, WebTrader and Multiterminal.
InstaForex MetaTrader4 supporting international languages and is enhanced with extra tools. MT4 is available across all devices on Windows, Mac, Android and IOs.
Research and Tools
InstaForex research tools are available on the platforms and with additional analysis and analytics section via the website.
InstaForex has good and enhanced MT4 with extra tools like Pattern Graphix, Forex Forecast, Trading Ideas, Social Trading and standard Economic Calendar and PAMM feature.
On the negative side there is no Fundamental data or research from leading industry providers.
InstaForex research tools are available in different places:
- MetaTrader trading platform
- Analytics section on the website
InstaForex education provided on separate section InstaForex Support with truly quality educational content.
You can find courses, videos, tutorials, Forex TV, webinars in its education section.
We didn’t find negative points, platform videos and all education section is well categorized and great for beginners.
Demo accounts are on free use and available for various account types.
Trading contest is another great way to improve and win valuable prices, there are various contest available at InstaForex, however also typically available only through its international entity.
At InstaForex you can learn in the following ways:
- Demo account
- Trading videos and tutorial videos, Forex TV
- Webinars, Trading Courses
- Educational articles
- InstaForex Contests for international traders
InstaForex customer service is very good, FAQ section answers many question and we had fast and relevant answer via the Live Chat.
You can contact InstaForex 24/7 and 24/5 for European clients by:
- Live chat
- Social Media messengers, WhatsApp
- Telephone and Call back
InstaForex live chat is a quick speed, agents are eager to help and provide informative answers
|Question Asked||We asked about account types.|
|Time of Reply||We were connected to customer support Live Chat within 5 minutes|
|Quality of Reply||The answer is informative, giving good examples.|
InstaForex is a safe broker to trade. It is regulated according to European ESMA standards, however licensed only by CySEC which is not top-tier regulator.
International proposals are done via offshore entities and indeed are much larger compared to European clients, international traders can get Contest, Bonuses more attractive trading conditions, but offshore broker still lack of serious regulations.
We recommend InstaForex for day traders and scalpers, and those who prefer flexibility between accounts and pricing models
Author of this review
By Jimmy O'Brien
Author of this review
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.
I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.