InstaForex Broker Review
Instaforex is focused on the post-Soviet market, although it has an international version. A significant number of traders on the site are from the CIS, most of the managing staff are also. At the same time, the processing is carried out on the global market.
In terms of accessibility, this is a simple and variable platform that provides basic tools for successful trading. The main transactions are ruble, euro, dollar, although, of course, no one bothers to play on less common currencies. Leverage and spreads are fully consistent with the variability of positions.
|Year of foundation||2007, Russia, Kaliningrad|
|Regulation||Nominally Russian office, but the regulator on the Virgin Islands, BVI FSC, license number SIBA / L / 14/1082.|
|Platforms||MT4, MT5, Multi trader, proprietary WebIFX|
|Markets and products||Working with currency pairs, bitcoin, CFD transactions are allowed|
|Spreads||0 to 7 pips|
|Minimum deposit||1 $ regardless of premium account|
|Maximum Leverage||Varies. 1: 1 to 1: 1000|
|Account types||4 types of different premiums with different benefits. Five subtypes of bonuses|
|Deposits and withdrawal methods||Standard credit and debit cards Visa-Mastercard, bank transfer via swift, Qiwi, Skrill (MoneyBookers), Neteller, RBKMoney, Z-Payment, Moneta.ru, Yandex.Money, Webmoney|
Several small national payment conversion systems by status for Instaforex 2019 is not available.
Instaforex operates with the following possible trading platforms:
- MT 4 – the fourth version of the Metatrader is a standard in the brokerage industry. It works in three modes of orders, has 50 indicators of technical analysis, builds visual charts. Each trader can automate the work and write a bot that will track all activity.
- MT 5 – the fifth version works in the same vein, only with advanced features. There are four types of orders for execution and six for pending ones, it has a multi-currency tester.
- Multiterminal – a parallel session platform on several trading accounts from one platform. Useful for the busiest traders.
- WebIFX – proprietary software, this software is developed directly by the forex broker. This is not a standalone application, but a web shell that works from any modern browser.
Altogether, about one hundred and seventy trading positions, seventy-two exchange commodities open up the widest opportunities for successful speculation, both for one-time small transactions and a constant strategy. However, the average turnover here is relatively small, so Instaforex’s overall marketing strategy is designed primarily for accessibility, and not for large investors.
Instaforex differentiates accounts for its traders. In total, four types of possible combinations and bonuses offer you to familiarize yourself with the following types of accounts available for trading in Instaforex:
|Deposit Currency||Cents US |
|Eurocents Cents US dollars, Eurocents||Euro, US dollar, Russian ruble||Euro, US dollar, Russian ruble|
|Maximum deposit||$1,000 ||$1,000||unlimited||unlimited|
|Spread||3-7 points||from 0 points||3-7 points||from 0 points|
|No commission||none||0.03% -0.07%||none||0.03% -0.07%|
|0.10 lots||0.01 lots||0.01 lots|
Commissions, fees, payments
There is no commission for a standard cent deposit, as well as for Insta “Eureka”, for other options – up to 0.07%. The margin call is everywhere fixed – thirty percent. Due to the actual unlimited minimum deposit,
The hotline, electric mail and other means of communication are listed on the site. What is especially nice is localization. All technical support is familiar with Russian realities when it comes to the Russian version of the site. There are both Indians and employees from the Caribbean at the English call center, however, ruble traders use relatively little English-speaking technical support.
There are no classical training programs with webinars, instead of them an incentive partnership system works:
- Trader partner – InstaForex gives up to 1.5-5.3 points from transactions of attracted customers.
- Investment projects – similarly, the same percentage of investment transactions, depending on how many people the partner of the company was able to attract;
- CPA affiliate program – one-time payments for attracted and active traders. Unlike the previous two options, here the bonus is scaled fixed, according to the formula, from the size of the first deposit of the attracted client.
- Representation – in fact, the regional office of InstaForex company, franchised by a legal entity-trader. In this case, specific bonuses are negotiated within the framework of the system of contracts and strongly depend both on the region (Instaforex operates in Moldova, Ukraine, Belarus as full-fledged regional offices) and on the estimated profit.
At first glance, an attempt to seem more impressive, to win the attention of customers from the start is striking. As a broker’s partner, for example, the site claims the legendary Indian grandmaster, world champion Viswanathan Anand. Instaforex generally builds its advertising campaign on the attraction of famous athletes. Among the bonuses for achievements, the top forex broker generally offers Lamborghini. But in the tops of traders, everything is much more modest – there it costs the usual several thousand dollars of turnover. Which is much more reliable than hypothetical, but invented profits that no one will ever pay.
The “sports” theme of all promotions is a competent marketing move. The site is positioning itself as “popular,” so famous people under the header of the site well increase the influx of new faces. At the same time, as can be seen from the tables, the requirements and limits on financial resources are extremely liberal.
Pros and Cons of InstaForex
Most brokerage programs are interchangeable in one way or another in both software and interface design. This is done to maximize the efficiency of a single trader. Instaforex stands out as its unique advantages:
- Spartan interface, nothing special, but generally convenient;
- a system of fixed eighty percent profit;
- a very large and flexible system of tools, especially against the background of more “budget” brokers;
- work either through the standard interface of the MetaTrader of the fourth version or through the functions of your account;
- a huge number of conversion systems.
The latter plus is very relevant for the post-Soviet space since the ruble is still a local currency and a variety of conversion methods greatly helps in the profit of trading.
The main disadvantage of most reviewers considers a strong limitation of options contracts. The rest of the platform is very suitable and is strongly recommended to domestic traders.