Writing this InstaForex review was honestly very easy for me, as it is a forex platform that is truly trader oriented and focused on beginners on forex.
Instaforex is currently one of the most popular online brokers in the world forex market since its inception in 2007 to more than 2 million clients (traders, most of whom are located in Eastern Europe and Asia).
- High Bonuses up to $1000
- A great variety of trading instruments
- Leverage up to 1:1000
- Various languages (many Asian languages included!!)
- Metatrader 4
- Relatively high trading costs “spread”
- Occasional freezing of the platform
- Negative feedback on some forex forums like “Forex Peace Army”
- Slower trade execution time
Some of the solid Instaforex bonuses they offer right now include:
- No Deposit Bonuses for EU located traders
- Welcome bonus on first deposit (in percent of first deposit) up to $ 1000!
- Bonuses for already registered traders
- InstaForex Club
- The 100% Liverpool FC Partnership bonus
Thorough study of bonus terms and conditions is also important because InstaForex does not provide these benefits automatically. Traders must request them directly through customer service. Perhaps the biggest attraction for future traders is ‘’The No Deposit Bonus ”. With this bonus, after signing up and verifying your account, $ 100 will be credited to the trading account, which can actually be used for trading and, unlike the demo account, they earn real money. InstaForex also organizes regular competitions with great prices, such as BMW X6 and Jaguar F-Type, $ 55,000 in cash or a variety of electronics like smartphones and tablets.
Since the seat of Instaforex broker is Russian Kaliningrad, it is financially under the control of the RAFMM (Russian Association of financial markets).
InstaForex has an excellent reputation in the world, has not experienced any major problems in the past, has been avoiding debts, and has a very good position as a leader of the Asian market especially in Indonesia, Malaysia and Thailand.. That’s why it’s not surprising that it is a successful broker despite the hard western competition.
Free and unlimited demo account
To get familiar with InstaForex trading, future traders do not have to create a real account right away. To test all actions and features, there is demo account which is free of charge, unlimited and non-binding. This account will allow new members to work with a virtual amount of $ 100 to $ 50,000.
Webtrader or Metatrader4 platform
In practice, you can trade without downloading any software, just open an internet browser and trade through the Instaforex Webtrader.
Second option is trading directly through the Metatrader4 which is probably the best decision. You must first download Metatrader4 software into your computer and then connect to Instaforex servers with the login name/password that you created during opening a trading account.
If you want to keep your trades under control while “on the go“, you can download an app to your mobile from Google Play or the iOS shop. Both Android and iOS operating systems are supported.
InstaForex can be contacted 24 hours a day in a variety of ways to make contact really smooth. Traders can contact Technical Support via e-mail, online chat tool, phone call, or even skype in case of any difficulties. InstaForex efficiently connects customers to the appropriate departments in charge to handle specific issues and requests faster and more competently.
Probably the biggest advantage of a Russian broker is a great support in a large number of languages.
Education and Training
The wide offer of useful educational materials is not only important for beginners in forex trading, but also for experienced traders who want to expand their knowledge and thereby increase their profits.
InstaForex also offers video tutorials for various topics and a complete online course, in addition to extensive materials in the form of manuals. This course contains all the basic information, explanations and strategies needed to successfully deal with the forex market.
Experienced traders can benefit by reading current daily news from the financial market. Technical analyzes of various business strategies or risk management are also a tool to improve forex business skills.
Large Choice of Tradeable Assets
An important fact is that instrumentexchange rates are not directly determined by the InstaForex broker. They rely directly on supply and demand on the market to prevent possible manipulation by the broker. Instaforex profits exclusively from fees.
Convenient and intuitive trading is guaranteed by the well-known MetaTrader4 platform, which comes also with many free expansions. Alternatively, MetaTrader5 and MetaTrader 4 Mobile Application for mobile trading are available as well.
In the current range, there are about 110 different, major but also a few more exotic currency pairs tradable. In addition, investors can also trade number of CFDs(Contracts for difference).
Trading Account Types
InstaForex offers, in addition to the already mentioned demo account, four other types of accounts in which all 110 instruments are tradable, of course. Accounts differ in the way spreads and fees are applied. Some of them are more suitable rather for beginners and the other for experienced traders. With Cent accounts for beginners, there is almost no risk and for all types of accounts, a maximum leverage of 1: 1000 is available -even with small sums, relatively large deals can be made.
Insta. Standard –a standard account with a fixed spread and free of charge, which is intended for common forex trading. The main advantage is the possibility to change the trading leverage at any time
Insta. Eurica – the unique feature of the Insta.Eurica account lies in zero spreads. Therefore it is the ideal way for beginners who do not have to take into account the spread when opening a position. Other trading conditions are identical to the Insta.Standard
Cent. Standard – Account for beginners with fixed spread and limited maximum deposit
Cent. Eurica – Account also for beginners, with zero spread and low deposit
Instaforex review conclusion
Instaforex is the most successful broker in Asia and Eastern Europe with a long tradition and prestige. Even though it is not subject to the regulations of the European Union’s authorities, but the Russian RAFMM on the contrary. However, It has managed to preserve its impeccable reputation without serious scandals or debts. The broker offers many benefits, including a free demo account, high quality training, educational materials, modern business platforms and attractive bonuses or contests for new as well as loyal customers. Portfolio consists of more or less 110 instruments (metals, Bitcoin, CFDs, Futures, US stocks) through four types of customer accounts.
|Summary||InstaForex is one of the bigger brands in forex retail trading industry. Popular mostly in South East Asia and Eastern Europe. I like their extraordinary high leverage of 1:1000 that can be beneficial for some traders. Also high bonuses is a big plus.|
|Rating||4,5 out of 5|