InstaForex Review
4.5/5

InstaForex Review

✅ Low minimum deposit
✅ Regulated
✅ 230+ Tradable instruments
✅ Attractive spreads

Home » InstaForex Review
$1
Min. Deposit
100% Up to $2,000
Bonus
Regulatory BodyFSC (Financial Services Commission)
Trading platformsMetaTrader 4, InstaBinary, WebIFX
Customer supportRequest callback, Live Chat, Email, WhatsApp, Skype, Twitter
Languages support30
Num of instruments230+
OTHER BROKERS

This InstaForex broker review will explore the product and services of a highly reputable broker which has a long history of providing quality service to a loyal customer base. Following a strict review process, we can confidently name InstaForex as a trusted broker. InstaForex is fully regulated, has a long list of assets available for trading, and supports cryptocurrency trading, which is still a relatively rare offering. It also features a ForexCopy system and offers binary options, along with deposit bonuses and contests. With its history of winning awards and prominent sponsorship deals and partnerships, InstaForex has established itself as one of a handful of outstanding brokers with a big name to back itself up.

  • ProOffers access to forex, CFDs, indices, metals, binary options, and cryptocurrencies
  • Pro ForexCopy system supports copy trading
  • Pro$1 minimum deposit
  • Pro A diverse variety of trading instruments
  • Con No direct phone support, only a callback option

Company information

InstaForex began operations in 2007 and since then, it has served more than 7,000,000 clients. The company gives you access to trade more than 230 trading instruments and supports more than 30 languages. The company is based in Russia and regulated in the British Virgin Islands. InstaForex has been honored with more than 30 financial awards from around the world. Some highlights include “Best Forex Cryptocurrency Trading Platform” from the UK Forex Awards, “Best ECN Broker Asia” from IBM, and “Forex Broker of the Year for Eastern Europe” from Le Fonti Awards.

Other honors for InstaForex include “Development and Success Award” at the Financial Olympus 2016-2017, “Best ForexCopy Trading Platform” from ShowFx World, “Forex Broker of the Year for Innovation Europe 2017” from Le Fonti Awards, and “Best ECN Broker” from European CEO. Our InstaForex forex broker team applauds the broker for their ongoing performance, as in 2016 they also did very well. They won “Best Social Trading Broker” from the UK Forex Awards, “Best ECN Broker in Asia” from the International Finance Awards, “Best ECN Broker” from the European CEO Awards, and “Best Forex Broker in Asia” from the IAR awards.

InstaForex regulation and licensing

InstaForex works under the umbrella of Instant Trading Ltd., which is licensed and authorized by the FSC (Financial Services Commission). This licensing is part of the Securities and Investment Business Act (SIBA) in the British Virgin Islands. The SIBA regulations ensure that InstaForex and all other companies regulated by the act and commission meet common global standards in the financial industry. As such, InstaForex always complies with the common standards that the International Organization of Securities Commissions (IOSCO) and International Monetary Fund (IMF) have outlined.


Additionally, although InstaForex is not regulated by other entities in additional countries, the FSC is part of the Memorandum of Understanding, with the regulators from 31 European countries. This memorandum was accepted in 2013 and relates to joint assistance and common regulations regarding investment funds. In other words, the FSC requires the same standards as all other major regulatory bodies. This review of the InstaForex forex broker finds that this is more than adequate regulation to keep you feeling well-protected.

Opening an account with InstaForex

Opening a trading account with InstaForex is incredibly straightforward and you can complete this process in just minutes. Document verification can take up to 72 business hours, however.

What is the minimum deposit at InstaForex?

The minimum deposit at InstaForex is just $1, making it the best forex broker for those with minimal funds to invest. Keep in mind that if you fund via wire transfer, the minimum deposit increases to $300.

How to open an account at InstaForex

To open an account with InstaForex online broker, just follow these simple steps. The entire process is online, although you will need to submit documentation as well to prove your identity and address.

Step 1. Select “Instant Account Opening” at the top of the website.
Step 2. Fill out the information, including your full name, email address, phone number, and country.
Step 3. Select “Open an Account”
Step 4. Fill out the additional information in the form.
Step 5. Submit your documentation to verify your account by going to “Client Cabinet” then “Account Settings” and “Verify Account.”
Step 6. Enjoy trading with InstaForex.


To assist you with the account creation process, our InstaForex review team created a complete list of things you will need to provide this broker which you can find below.

  • Personal information – You will need to provide your full name, phone number, and email address. During verification, you will also need to provide your address.
  • Regulatory information – The required regulatory information is the same as your personal information.
  • Documentation – To verify your account, you must submit any identifying document, although InstaForex prefers a driver’s license or passport. You may also have to submit proof of address in the form of a utility bill or ID that contains your full name and address.

Account types

Regardless of your trading requirements, you’ll find an account type that is suited to you. InstaForex keeps things simple with their selection of account types, offering Insta.Standard and Insta.Eurica accounts. Insta.

Standard accounts support micro forex trades with minimum deposits of $1 to $10, mini forex trades with minimum deposits of $100, and standard forex trades with minimum deposits of $1,000. Most Insta.Eurica accounts feature zero spreads but trades will be subject to commission fees instead. InstaForex recommends this account for beginners due to the ability to ignore the intricacies of pending orders. If you are new to trading and want to trade smaller volumes you can also open Cent.Standard and Cent.Eurica accounts. Both of these offer micro forex with 0.0001 lot volumes.

Islamic accounts

InstaForex offers both Islamic and swap-free accounts. It is completely free to open an Islamic account, as this is a consideration related to religious freedom. These accounts are tailored specifically to meet the requirements of Sharia law.

Demo accounts

Our InstaForex forex broker review suggests that you begin with a demo account. This is a free account from InstaForex and it lets you practice trading strategies to minimize the high risk and potential to lose money associated with trading forex. The free demo trading account is fully functional and provides access to MetaTrader 4, allowing you to practice trades with currency instruments, U.S. stock CFDs, gold, silver, and future CFDs, among other assets.

InstaForex trading costs

Trading Fees*

Type of FeeCost
Minimum Order Size (lots per trade)0.0001 for Cent, Otherwise 1
Average Spread USDEUR (pips)3 (Insta.Standard), 0 (Insta.Eurica)
Commission (%)0 (Standard), 0.03-0.07% (Eurica)
Commission on Islamic Accounts (%)None

Non-Trading Fees

Type of FeeYes or No
Inactivity FeesYes
Deposit FeesNo
Withdrawal FeesYes

*Based on Standard account type.

Trading fees

The trading fees for InstaForex are around average. Insta.Standard accounts have fees on the higher side of average while Insta.Eurica accounts have highly competitive fees. The fees are clearly outlined, with Eurica accounts charging 0.03 to 0.07 percent per trade.

Financing/Overnight rates

The rates for financing and overnight positions on InstaForex are around average vary depending on which instrument is involved in the ongoing trade.

Deposit fees

InstaForex does not charge any deposit fees. Some platforms and payment methods may charge you fees, which InstaForex passes on to the client.

Withdrawal fees

Personal accounts on InstaForex pay a system fee of 1.5 percent plus $0.30 for withdrawals. For business accounts, this increases to 2.5 percent plus $0.30.

Non-trading fees

InstaForex charges inactivity fees of $10 per month. The broker only charges this inactivity fee if the account is not used for 12 months. The inactivity fee is on the lower side of average and the length of inactivity required (12 months) is on the high side of average, both of which are positives in this InstaForex broker review.

InstaForex payment methods

As an account holder at InstaForex, you have a good choice of payment methods available for both deposits and withdrawals. InstaForex does not charge any deposit fees, but your bank may.

visa
master card
skrill
neteller

Deposits via bank card, including Visa and MasterCard, take up to 24 hours. Bank wire transfers take up to two to four days to process. Instant deposits are also available via Neteller, Bitcoin and Litecoin, Solidtrustpay, PayCo, and OnlineNaira and other wallets. Local transfers are available with processing times of one to two business days. China Union Pay is also supported and can take up to seven business hours. As is expected from any forex site, InstaForex requires the withdrawal method to be the same as the deposit method, for withdrawals up to the amount of the initial deposit.

Mobile compatibility

You can review InstaForex’s website with ease on your mobile device, as the pages are optimized for mobile functionality. It is also possible to access various web traders on the trading site from InstaForex, including MT4 and WebIFX from your mobile device.


In this InstaForex forex broker review, we suggest that if you want to trade while on the go, then you should consider downloading MetaTrader 4 for your smartphone or tablet. This will give you access to the most popular and arguably the best forex trading platform, no matter where you go. It will also connect seamlessly with the other MetaTrader 4 platforms you use for trading with InstaForex.

Research tools

Most reviews of InstaForex forex broker will likely praise the broker for all of the research tools and analysis it has made available. InstaForex offers analysis and research tools for all experience levels of traders, from beginners to advanced traders. There is a dedicated section of the website for Forex Analysis and Reviews, where you can find information from experts at InstaForex. You will find long- and short-term reviews of specific assets as well as the market overall.
InstaForex also provides video analysis with a “Trade of the Day” clip. There is a separate “Photo News” that similarly looks at top lists like a blog, which provides extensive and useful information. Topics include top Russian dividend stocks and most competitive megacities.


Our InstaForex review team is unsurprised to see an economic calendar on the broker’s website, as this is a standard offering with the majority of brokers nowadays. There is also a trader calculator. Actual Patterns is a service from the broker that helps you spot opportunities by demonstrating the various patterns in the markets. This section includes the charts marked with the patterns and a quick explanation of the pattern in question. Pattern Graphix is similar but is an InstaForex plug-in for MT4. Superior Forex Desk is a tool for order management that works with MT4. InstaForex TV is a great resource for all traders, especially those who prefer accessing information via videos. It includes calendars, reviews, forex news, financial market reviews, cultural and financial geography, video analytics, and events.

Education and training

As with research and analytical tools, our InstaForex broker review has identified that the broker offers you many educational tools, suitable for all skill levels. The video tutorials are particularly helpful for beginners, including detailed lessons that are designed to show how to use the platform, how to open an account, and more. There are also beginner-oriented videos to learn general forex trading skills, starting with the basics.

One of the best educational features is the Forex Learning Course that is specifically designed for beginners. It is free for clients who deposit a minimum of $100 and covers everything beginners need to know. It includes a total of 16 lectures covering everything from the basics to trend analysis, mathematical analysis, trading systems, trading psychology, and risk management. You can also find other educational information, such as a forex glossary, an introduction to trend lines and how to use them.

InstaForex customer support

InstaForex has two separate FAQ sections, which our InstaForex review 2020 panel feels can be mildly confusing but also allows for additional information to be easily available. Both FAQ sections are well-organized for convenience. Customer service is easy to contact, as you can request a callback, talk via live chat, or send an email. If you prefer, there is also a contact form that sends a message via email. Technical support is available 24/7 via email, Skype, WhatsApp, Viber, Telegram, Twitter, and phone.

InstaForex — Our verdict

After careful analysis in our review of the InstaForex forex broker, our team is happy to recommend this reputable broker to any trader. InstaForex offers an impressive selection of instruments for trading with an especially robust list of forex pairs. You will appreciate the presence of MetaTrader 4 due to its familiarity and intuitive use, while its alternative platforms may provide unique advantages for certain trading strategies.

Past third-party InstaForex forex broker reviews have been overwhelmingly positive, with the broker winning dozens of awards over the years to show additional confidence. Factoring in regulation by the FSC and client fund protection, InstaForex is a solid choice for trading forex and other assets. Sign up for an InstaForex demo account or a live account today to start taking advantage of the broker’s excellent offerings.

FAQ

Is InstaForex regulated?

Yes, InstaForex is regulated by the FSC in the British Virgin Islands.

Is InstaForex a scam?

InstaForex is not a scam. We provide an InstaForex review and a broker comparison that proves the legitimacy of this broker. Additionally, InstaForex is a well-regulated broker that has been in business since 2007.

What is the minimum deposit at InstaForex?

The minimum deposit is just $1.

Does InstaForex charge commission?

Clients can choose an account with no commissions or one with tighter spreads and commissions of 0.03 to 0.07 percent. This is well within the industry standard when compared to other top-rated forex brokers.

What InstaForex account types are there?

Clients can choose from a spread-based or commission-based account, either of which is also available as a micro account.

Cryptocurrency Trading
Crypto CFD pairs
Min Deposit: $1

5.0
Licensing & Safety
4.0
Markets
5.0
Bonuses & Promotions
4.0
Customer Support
4.5 Overall Rating

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InstaForex Review
4.5/5