InstaForex was founded in 2007 by InstaTrade Corporation, offering forex, CFDs, and binary options trading as a MetaTrader only broker. In total, 88 CFDs are offered alongside 107 currency pairs.
InstaForex offers its clients a choice of 4 account types, which can be divided into two categories: Standard and Eurica ones. All of them are accessible via depositing just $1 and offer leverage up to 1:1000, Cent and Micro account option (with 0.0001 minimum trade size) and an annual interest rate of 5% (accrued on the last day of each month).
While Standard accounts offer fixed spreads and are commission-free, Eurica ones provide Forex trading without spread, which is quite unusual. Nonetheless, a commission of 0.03% applies to trades on Eurica accounts, which equals a 3-pip spread.
The Company & Safety of Funds
InstaForex is a brand operated by two companies: one of them is registered offshore, and the other is regulated in Europe, by the Cyprus Securities and Exchange Commission (CySEC).
InstaForex’s product portfolio is pretty impressive. It includes 107 currency pairs, 88 CFDs on US stocks, futures, gold and silver, Bitcoin on both MetaQuotes’ platforms.
Commissions & Spreads
InstaForex offers fixed spreads only, which are a bit high, amounting to 3 pips on EUR/USD. Trading costs on its zero-spread Eurica accounts are practically the same, and most fixed-spread brokers offer 2 pips spread.
The maximum leverage level offered by InstaForex is 1:1000. We find leverage that high to be damaging to proper risk management, so consider it carefully before opting it for it.
As we have already mentioned, InstaForex offers both MetaTrader4 and its successor, the MetaTrader 5 (MT5).
The broker also provides VPS hosting services (free of charge for clients with account balance over 5000 USD) to ensure continuous operation of EAs.
Deposit & Withdrawal
InstaForex offers its clients a wide range of payment methods: credit/debit cards, bank wire transfer, MegaTransfer, Paxum transfer, PayCo, Skrill, Neteller, Boleto, BPay.md, ePay.bg, CartaSi, ePayments, Dankort, Electronic Payment Standard, Nordea SOLO, POLi, PostePay, Przelewy24, iDeal, SOFORT, Trustly, QIWI, Bitcoin, and a number of local transfers.
Besides, with the help of the InstaWallet system, every InstaForex customer can transfer money to accounts of other company’s clients.
InstaForex is a forex & CFD broker with many years of experience and rich product portfolio. It provides numerous bonuses, as well as the interest rate on deposits, however, its overall pricing is not very competitive and it is not regulated. Besides, it uses fixed spreads and probably acts as a Market Maker.