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Some of you reading this InstaForex Forex broker review, may already have encountered some negative press about this particular Forex broker, and are looking for a second opinion. Others will simply be looking for the perfect broker to suit their needs. And we hope we’ll be able to help both types of reader, as well as plenty more. We also read a lot of negative comments and other informed reviews regarding this particular broker, and can’t say we disagree with much of what was said. It is presently an unregulated Forex broker, which should always raise a certain amount of suspicion. That being said, it is still a big name in the world of Forex trading, so we felt it was worthy of our time.
The background and history of InstaForex
InstaForex is a Russian ECN Forex broker that has been in operation since 2007. It claims to have more than a couple of million traders with almost 1,000 new clients coming on board every day. They have been fortunate enough to receive a number of prestigious awards such as the Best Broker in Asia, along with a number of other awards from leading mass media sources. However, they are not currently regulated or licensed by any regulatory bodies, which we consider to be rather dubious. The InstaForex website happens to be pretty impressive, and is available in more than 30 languages. But from the grammar in the English version, it is pretty obvious it has been written by a non-native English speaker. Which begs the question, why didn’t they consider it worth the effort?
InstaForex trading platforms available
The trading platforms available, and the website itself, are both very user-friendly, which means that new traders will have no problems understanding how it all works and navigating their way around the many pages of useful information. InstaForex chose to use MetaTrader 4 from the very outset, and have recently become one of the first to welcome MetaTrader 5 as well. MT4 and MT5 have proved themselves to be very popular across the wide range of Forex traders, and many claim that the platforms on offer from MetaTrader are some of the best around. There is also an InstaForex mobile option for online trading, which is certainly something many of today’s modern traders will be looking for. InstaForex also offers an option for those who enjoy watching and copying other traders with ForexCopy.
Only one standard option if you decide to open an account with InstaForex
If you decide you want to trade with InstaForex there is only one real account to use. If you’d prefer to try InstaForex out for size before investing real money there is the option of opening a demo account.
The standard real money accounts require a minimum deposit of $1, which is a good place for beginners to start their trading journey, as it means only a small amount is put at risk. Insta.Standard accounts come in three versions, starting with the Micro Forex, which requires a minimum deposit of $1 – $10. Then there is Mini Forex with a minimum deposit of $100. And finally the Standard Forex which has a minimum requirement of $1,000.
The number of InstaForex bonuses is astounding
InstaForex seems to be right behind the idea of an InstaForex bonus and has a lot on offer for both new and seasoned clients. When we were writing this InstaForex review there were certainly a number of them available, and it states on their website that profits made from any bonus can withdrawn from an account without any restrictions. Here are a few examples of what is currently on offer:
Fixed InstaForex bonus 250% – Credited only for the first-time account deposit and required clients claiming it to upload a scanned copy of their ID
LFC Partnership InstaForex bonus 100% – Introduced to mark its partnership with Liverpool FC
55% bonus on every deposit – Awarded for every subsequent deposit, regardless of previous losses or profits
30% bonus on every deposit – Available for investing in PAMM accounts
It’s always good to know your chosen Forex broker is there when you need them and clients won’t be disappointed with InstaForex, as the lines of communication are open 24 hours a day, 7 days a week. There are a number of country specific toll-free telephone numbers as well as a live chat option. Alternatively, there is a range of emails depending on the subject of your query, along with telegram, twitter, Skype, and AOL IM.
Educational resources are a plenty as well, and include a customer forum, InstaForex TV, FX analytics, charts, RSS feeds and more.
How to make deposits and withdrawals with InstaForex
For payments and withdrawals the payment method has to be the same, and for some types there will be fees attached. All the common payment methods are supported, including credit cards, bank wire, Skrill, MoneyBookers, Neteller, and many others, including the InstaForex debit card. Customers can also choose to deposit Bitcoins, without any related fees, with a promise that the transaction will be finalized within three hours.
All in all, InstaForex has a lot to offer Forex traders, both new and old. However, we would always advise caution as this is one Forex broker who isn’t regulated in any country, which is always going to be a risk.