InstaForex is a Russian ECN-broker operating on the Forex exchange market since 2007. InstaForex boasts more than 2 million traders from around the world with close to 1,000 clients opening new trading accounts every day.
Their achievements are recognized by many awards and honors including The Best Broker in Asia at the prestigious World Finance Awards for several years in a row and they received multiple awards from other leading mass media, such as the CNBC Business Magazine and the European CEO (The Best Retail Broker Award). Their work has been marked at international financial events such as ShowFX World, ShowFX Asia, CIOT EXPO, and Jordan EXPO exhibitions.
The accounts at InstaForex are divided up into different categories.
Insta.Standard accounts work for all types of traders and allow a trade to be settled with classical spread and with no fees. The features of the account allow trading with the Micro Forex where the minimum deposit is $1-10; the Mini Forex with a minimum deposit of $100, and the Standard Forex where a minimum deposit of $1000 is required. The main advantage of this type of account is its universality, as it allows traders to choose a deposit size that is convenient for them and afford them the opportunity to change the trading leverage. Traders pay a spread for these accounts.
Insta.Eurica trading accounts don’t have a spread. This account type is recommended for novices as orders are executed right when the price reaches its value if the spread equals to 0. In addition, the Insta.Eurica accounts allow the inexperienced trader to learn the market by using a simpler system of trading.
This account type can be also used by professional traders, because its trade characteristics are the same as of Insta.Standard account type.
The Cent.Standard and Cent.Eurica trading accounts were developed for beginning traders because they require minimal possible trade volume. This type of account suits those who want to test trading strategies with minimal risks using the trade advantage of 0.0001 lots.
Cent.Standard and Cent.Eurica account holders have the same trading terms as Insta.Standard and Insta.Eurica. The only difference is the amount of deposit required.
A comparison chart helps traders understand the different accounts more clearly.
I was pleased to see when doing this InstaForex review that there is a demo account available for traders who are still hesitant about their trading skills. Traders can open a fully functional demo account using the MetaTrader 4 platform which offers its services on 107 currency instruments, 34 U.S. stocks CFDs, futures CFDs, trades on gold and silver, and many others.
An explanatory video is available but is not very easy to understand the instructions given the heavy accent of the speaker.
Account holders can enter the InstaForex Client Cabinet where they can read about financial matters as well as news and events and security information.
The daily updated section of market analysis is prepared by the professional analysts of InstaForex Company. They also provide market signals that analyze and forecast price fluctuations. Each signal provides summary information, calculation formulas, and tips for practical use. The indicators are available to be downloaded and set up in MetaTrader 4 platform.
InstaForex has its own forum for account holders as well as humorous articles and blogs and a currency calculator.
InstaForex PAMM system gives traders an opportunity to invest in Forex projects. Every customer of InstaForex Company can accept investments from other traders or invest funds in PAMM accounts and become a shareholder of this account.
And the ForexCopy system by InstaForex is an innovative service enabling traders to follow successful Forex traders and copy their trades online on a set ratio.
InstaForex is very big on bonuses and promotions. At the time of writing this InstaForex review, there were several bonuses being awarded to account holders.
Volume Bonus: A 55% bonus for every deposit made by InstaForex customers who deposit funds to their accounts after June 15, 2013. The 55% Bonus has no limits on the maximum and minimum amount and is credited to every deposit irrespective whether the deal was profitable or not. This offer is valid until 28 April 2015.
Welcome Bonus: InstaForex offers its customers an opportunity to receive the 30% Welcome Bonus to their trading account simply by registering and filling out an online application form.
The 100% LFC Partnership bonus: InstaForex Company has partnered with one of the most successful English football clubs – Liverpool FC. To celebrate this event they are offering customers a special bonus of 100% bonus on their first deposit.
In addition to the above, every client holding InstaForex Club Card is eligible for a Club Bonus starting at 1% for deposits of $500 and going up to 10% for $15,000.
A unique bonus offered by Instaforex is their Coupon Bonuses which are credited to client accounts for new customers brought in. The partner can create the coupons valued $10 and $50 each depending on the trading activity of his clients and can then give them to his most active traders at his own discretion.
There were also several promotions taking place at the time of this writing.
Continuing its tradition of offering classy upmarket cars to its customers, InstaForex was in the midst of another raffle of another premium class automobile –Porsche Cayman. The campaign began has been running since April 22, 2013 and will continue until October 19, 2015.
InstaForex supports the aspiration of an active lifestyle and continues to sponsor both old and new sports teams such the InstaForex Loprais Team, the participant of the international Dakar Rally and the winner of the Silk Way Rally 2011; the 2012 WTA world #1 and two-time Grand Slam Champion, Victoria Azarenka and others.
InstaForex offers a host of different training videos and courses and well as Forex Trainer, a program which enables traders to test their trading strategies based on the technical analysis in the popular platforms MetaTrader 4 and MetaTrader 5. The Forex trading simulator enables users to watch quick replays of their trading and instantly receive information on whether their take profit or stop loss orders are activated. Alternatively, it allows them to see a slow motion replay of trading close to every candlestick in order to optimize parameters.
Deposits and Withdrawals
The payment system for depositing and withdrawal must be made using the same payment method. These transactions can be made via credit cards, bank wire, InstaForex debit card, Skrill, MoneyBookers, Neteller and a host of other online payment plans. There are fees attached to some of these payment options. Bitcoins can be deposited without any fee and are transacted within three hours.
Customers who replenished their trading accounts by a credit card in dollars can withdraw amounts less than 300 USD via MoneyBookers/Skrill and over 300 USD via Bank Transfer.
InstaForex clients can access customer support 24/7 by email, telephone and chat from 7:00 to 16:00 UTC. There are separate telephone numbers for the different departments which makes it easy to reach the person who can help without having to speak to more than one representative.
InstaForex is made a name for itself over the last eight years and continues to lead the pack in choices and features. The website has so much information that I found myself finding new information each time I opened a page and this could be somewhat confusing for new traders. Despite not having any regulation, the choice of accounts and various platforms make this broker a great pick for both beginners and experienced Forex traders.