InstaForex Review 2024

Regulations: CySEC (Cyprus Securities and Exchange Commission)

Instruments: 100+ Forex pairs, 88 US stock CFDs, 7 Index CFDs, 5 Cryptocurrencies, Commodities (Gold, Silver, Crude Oil, Natural Gas)

InstaForex EU offers five different account types, though the trading conditions for some accounts seem misaligned with industry expectations. The “Insta.Standard” account features fixed spreads ranging from 2.0 to 7.0 pips, making the trading costs relatively high. Despite the absence of a minimum deposit requirement, the elevated spreads in this account may not be ideal for cost-conscious traders. The “ECN” and “Scalping” accounts both offer an average floating spread of 1.2 pips and are commission-free, but they require a minimum deposit of $100. While the low minimum deposits are attractive, these accounts still fail to create the most competitive trading environment.

The standout option is the “Insta.Eurica” account, which is marketed as suitable for both new and professional traders. It offers a spread of 0.0 pips on major and minor currency pairs, with a low commission ranging from 0.02% to 0.07% of the deal value, making it the most competitive account available. Moreover, no minimum deposit is required for this account, which is a significant advantage for beginners and experienced traders alike. This account closely resembles a true ECN account structure, providing a much better trading environment compared to other options.

The “ECN Pro” account offers average spreads of 0.8 pips with no commissions, which is somewhat unusual for an ECN model where raw spreads are typically accompanied by a commission. Nevertheless, this account offers competitive conditions, second only to the “Insta.Eurica” account. Additionally, InstaForex EU deviates from the industry standard by defining a standard lot as 10,000 units instead of the usual 100,000 units, which can provide more flexibility for traders managing their risk.

All account types have a maximum leverage cap of 1:30, as regulated by the EU authorities. Islamic accounts are also available upon request, catering to traders who require Sharia-compliant trading options. Overall, the “Insta.Eurica” and “ECN Pro” accounts offer the most favorable trading conditions, though the overall structure of trading accounts at InstaForex EU could benefit from clearer organization and more competitive spreads across all types.

InstaForex Deposit Options and Fees

InstaForex offers a variety of deposit methods to accommodate the diverse needs of its clients. Here’s a detailed list of available options:

• Credit/Debit Cards: Visa, Mastercard
• Bank Transfers: Domestic and international transfers
• E-Wallets:
  • Skrill
  • Neteller
  • Perfect Money
• Cryptocurrencies: Bitcoin, Ethereum, and others

Most deposits are processed instantly or within a few hours, and there are no internal fees charged by InstaForex for deposits. However, be mindful that payment processors may have their own fees.

InstaForex Withdrawal Options and Fees

InstaForex provides multiple withdrawal options, similar to its deposit methods. Below is a summary of withdrawal options and their respective processing times and fees:

When initiating a withdrawal, it's crucial for traders to check the associated fees and estimated processing times based on their selected method to ensure a smooth transaction process.

InstaForex Trading Fees

InstaForex primarily generates revenue through its spreads, which tend to be higher compared to many of its competitors. For example, the average trading cost for the EUR/USD and GBP/USD pairs is 3.0 pips, which equates to $30.00 per trade. The trading cost for WTI Crude Oil, however, stands at $0.00, offering traders cost-free exposure to this commodity. Gold trading incurs an average cost of $0.80, while the trading cost for Bitcoin is $0.25, providing reasonably low fees for cryptocurrency traders.

The ECN Pro account offers spreads starting from 0.8 pips, while the Insta.Standard account features fixed spreads ranging from 2.0 to 7.0 pips. Other account types are listed with an average spread of 1.2 pips. For equity CFDs and cryptocurrencies, InstaForex applies a 0.1% commission, which is relatively standard. While the commission structure for these instruments is competitive, the spreads across most account types, except for the Insta.Eurica account, remain elevated, making InstaForex less attractive for traders seeking tighter spreads.

Additionally, swap rates apply to overnight positions, with InstaForex EU maintaining transparency about both positive and negative swap rates. Despite the clear and accessible fee structure, traders may find the overall trading costs on most accounts higher than industry standards, especially for those focused on tighter spreads.

At the time of our InstaForex EU review, no bonuses or promotions were available to traders. This is primarily due to regulatory restrictions within Europe, which prevent brokers from offering such incentives. While many traders may seek out bonuses or promotional offers when choosing a broker, InstaForex EU adheres to strict EU regulations, ensuring compliance with industry standards and maintaining a transparent trading environment without the use of promotional enticements.

InstaForex EU excels in both research and education, offering a comprehensive suite of in-house resources. The broker employs over 30 analysts who provide extensive market coverage, making its research capabilities particularly impressive. The analytics department at InstaForex is categorized into six key areas: Popular Analytics, InstaForex TV, Pattern Graphix, Forex Forecast, Economic Calendar, and Forex News. This diverse offering ensures that traders have access to timely market insights, technical analysis, and news updates to guide their trading decisions.

On the educational side, InstaForex EU provides a solid mix of resources aimed at helping new traders build a strong foundation in trading. The broker offers an online Forex course, designed in collaboration with its specialists and retail traders, which covers the basics of trading. One of the standout features of this course is that once completed, all course materials can be downloaded for future reference. Complementing the course is a video library that addresses key topics in the Forex market, along with numerous articles providing additional insights into various aspects of trading.

InstaForex EU’s educational offering equips new traders with the tools they need to establish a deep understanding of trading before making their first trades. The content is well-structured and accessible, ensuring a smooth learning curve for beginners. Additionally, the broker's "Forex Humor" section provides a lighthearted break from trading, adding a bit of fun to the learning process. Overall, InstaForex EU offers a robust research and education package that caters to both new and experienced traders.

InstaForex strives to provide access to its trading services to clients around the globe. However, there are certain restrictions in place to comply with international regulations and legal requirements. Below is an overview of the allowed countries, as well as those that are restricted from opening accounts.

Allowed Countries

InstaForex welcomes clients from a wide range of countries, making its services accessible to traders worldwide. Some of the notable allowed countries include:

• United Kingdom
• Germany
• Australia
• Singapore
• South Africa
• Malaysia
• Brazil
• India
• New Zealand
• Various countries in the European Union

Clients from these countries can benefit from InstaForex's diverse range of trading instruments, competitive spreads, and advanced trading platforms.

Restricted Countries

To comply with international laws and regulations, InstaForex does not accept clients from certain countries. These restricted countries include:

• United States
• Canada
• Japan
• Belgium
• Iran
• North Korea
• Afghanistan
• Syria

Residents of these countries are prohibited from opening trading accounts with InstaForex due to legal restrictions and compliance with anti-money laundering (AML) regulations.

It is essential for potential clients to verify their eligibility before attempting to register for an account. For the most current information on allowed and restricted countries, it is recommended to check the official InstaForex website or contact their customer support directly.