InstaForex Review

Account Types

The type of account you open with a broker will depend on two main factors: your level of experience as a trader and the volume of trading you are likely to do. InstaForex has made your choice easy by offering accounts to suit almost everyone.

Insta Standard Account

One of the two mainstay accounts available to any trader in the world, the Standard account operates on a zero-fee basis, with traders paying according to the spread and value of the trade. This account is the most flexible in terms of trade value and leverage, meaning you can place a trade for as little as $1(multiple currency units are available, we have used $ for simplicity).

Insta Eurica Account

The Eurica will appeal to those of you who prefer to pay a fixed fee per trade, which of course saves you the trouble of calculating spreads. The Eurica is understandably one of the most popular accounts offered by InstaForex because of the notably low commission rates of just 0.2% to 0.7% for most Forex pairs.

Cent Standard / Cent Eurica Account (InstaForex.com Users Only)

As suggested by their names, these are ‘mini’ versions of the account types we described above. Both are suited to beginners or those of you who prefer a minimal investment approach to your Forex trading. Micro trades are available from as little as 0.0001 of the market lot.

ECN Trading Account (InstaForex.eu Users Only)

Suited to the mid-range trader, this account is commission-free, with traders paying a ‘floating spread’ value with an average of 1.2 pips. The account is flexible in terms of the ability for traders to adjust the deposit amount and leverage. Still, it should be noted that trades are subject to ‘market execution’ meaning that they open at the market price, not the price at the time of placing the order.

ECN Pro Trading Account

This account is designed for the real trading pros amongst you. Minimum trade value is $1000, the main benefit being that the average floating spread reduces to 0.8 pips. Again, this account uses market execution values.

Scalping Account

InstaForex has devised the Scalping account for those of you who enjoy placing multiple short-term trades with a small profits margin. The majority of traders who employ EA software will appreciate this account, which has the same features as the ECN accounts but is set up especially for scalpers, complete with very competitive floating spreads.

Bonuses And Promotions

Due to the ESMA regulations currently in place InstaForex.eu clients are not offered any bonuses or promotions. For clients registered with InstaForex.com, there is a whole variety of privileges available.

These vary from 30% to 100% depending on the T&Cs applied to them, the account selected and the amount of trading quarterly. Again, there is much information related to this subject, so please refer to the broker’s website for full details.

Deposits And Withdrawals

As you would expect, InstaForex clients can fund their accounts with multiple deposit methods. All of the usual global options like Mastercard or Visa, bank transfer, Skrill and Neteller are available, as is Bitcoin. InstaForex also supports numerous ‘local’ payment methods appropriate to individual countries. There are far too many to detail here, but the information is easy to access from either of the InstaForex portals.

While depositing funds is free of charge across the board, withdrawals do attract a processing fee. The amount varies depending on your funding method and the amount being withdrawn, but it is levied on a percentage basis with a minimum of 1% or $1, whichever is the higher. With so many payment options available, we recommend that you check the details for your preferred method in advance.

Deposits and withdrawals are fast and easy and the broker advertises instant deposits and withdrawals on the next working day. From a security perspective, you must use the same method to withdraw as the one you used to fund your trading account and be ready with various forms of ID as InstaForex takes verification very seriously.

Customer Support

We always like to judge brokers from a ‘client experience’ perspective rather than just the nuts and bolts of making contact. We cannot say other than both InstaForex portals tick all of the right boxes, from taking your first look at the website through to answering any queries you may have.

InstaForex provides more ways to get in touch than any other broker we have reviewed. As well as the expected e-mail and phone options, there is also Skype, telegram, WhatsApp and all popular social media channels. Support is available continuously throughout the Forex market opening hours and is broken down country by country, so you will always be able to communicate with someone that speaks your language.

As for the customer support staff themselves, they are friendly, knowledgeable and we have found that they will deal with your enquiry in just the same way whether you have a demo account or are making $1000 trades.

Conclusion

InstaForex has a history dating back to 2007 and while some brokers remain static, this one has always moved forward. It has always reacted appropriately to the changing economic and regulatory needs of clients, hence the decision to ‘split’ into two entities. No expense has been spared on technology either, and this broker offers exceptionally well-maintained websites and trading apps for any device. Your online security is also ensured with the use of bank-level encryption for all personal and financial data.

The customer support offering from InstaForex has to be one of the best we have ever seen. It has an unbelievable amount of different contact methods where you can speak to a ‘real’ person, without delay. We also found trading T&Cs more than fair and with a good selection of accounts available to suit all but the most quirky of traders. There is undoubtedly a vast amount of information on the InstaForex websites, but they are responsive and straightforward to navigate.

For anyone, in any part of the world, the InstaForex brand is one to add to your shortlist of brokers. We rarely get to review a broker that has so much to offer to its clients. In this guide, we have only been able to give you a quick glimpse into the plethora of information and features available to you as an InstaForex client.