2.92
Accepts Tanzanian Clients. Average spread EUR/USD 3.00 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 platform supported. Instaforex is regulated by CySEC and FSC (British Virgin Islands).
Pros
- Wide range of assets
- Copy trading accounts
Cons
- Expensive withdrawals
- Limited education
- Wide spreads
Is InstaForex Safe?
InstaForex Group has been operating since 2007 and has a reputation of a reliable partner which provides its clients with a safe trading environment. In the EU and UK, InstaForex is a trading name of Instant Trading EU Ltd, which is regulated by CySec (Licence Number 266/15) and the FCA (licence 728735). The firm is a member of the Investor Compensation Fund, a scheme which serves to protect eligible retail clients by paying compensation in the event that a company fails to reimburse funds and/ or financial instruments due to liquidity issues.
InstaForex has received many awards over the years, recently winning the Best Forex Cryptocurrency Trading Platform 2018 at the UK Forex Awards and Best ECN Broker Asia 2018 from International Business Magazine.
Trading Conditions
Trading conditions at InstaForex are varied across five different account types, with both instant and market execution options available. In Europe, maximum leverage is 30:1 but will be higher elsewhere. Likewise, spreads can be fixed or variable and one of the accounts is even commission-based.
Account Types
InstaForex offers both real and demo accounts. However, there are several types of real accounts from which a trader can choose from.
The account types available are:
- Insta.Standard: Instant execution, with no minimum deposit and fixed spreads (starting at 2 pips), this account is good for beginner traders who prefer their fees paid in the spread rather than via commission
- Insta:Eurica: Also instant execution with no minimum deposit, this account is very similar to the Insta.Standard Account – the only difference being a 0 pip spread in return for a commission. 0 pip spreads are offered on major and minor currencies, all other assets will have wider spreads.
- ECN: The first of the three market execution accounts, minimum deposit here is 100 EUR and spreads are variable but average at 1.2 pips.
- ECN Pro: Also market execution, the minimum deposit here is 1000 EUR and the variable spreads are tighter at an average of 0.8 pips.
- Scalping: This account is built for scalpers, with ultra-fast market execution. Otherwise, trading conditions are the same as the ECN Account
Deposit & Withdrawal
InstaForex allows its retail forex brokers to use a variety of money transaction methods in depositing and withdrawing money from their InstaForex accounts. The allowed methods of money transaction include the InstaForex debit card, credit cards, bank wire, Skrill, MoneyBookers, and Neteller.
Bonuses
Outside of the EU, InstaForex offers a variety of bonuses to its retail traders. These bonuses include: 55% volume bonus, 30% welcome bonus, LFC Partnership bonus on first-time deposit and club bonus for traders with an InstaForex club card (1% for deposits of 500 USD up to 10% for deposits of 15,000 USD)
Customer Support
InstaForex clients have access to round-the-clock technical support via e-mail, callback service, Skype, Telegram, Viber, and live chat on working days. One of the major advantages is that all client inquiries are taken with a personal touch and by a dedicated manager.
Trading Platforms
InstaForex trading platforms are the MT4, MT5, ForexCopy System and an online option for mobile traders. The ForexCopy system allows forex traders to copy trades from their fellow forex traders who are very successful in forex trading.
Evaluation Method
We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the InstaForex product offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.
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