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Instaforex Broker Review
Instaforex has been one of the larger brokers that have been active in the industry for some time now. Since they started way back in 2007 they have gathered a solid following and are active pretty much everywhere in the world , thou their main core of traders are in the far east, they remain one of the larger brokers in Europe.
The company is a Russian ECN brokerage and has currently more than 2 million traders, and around 1000 new traders are being added every day.
This is important as it shows that they have some formula of success in this saturated market failure to provide service and positive trading experience is swift punished, so any broker that is able to boast this amount of trader is doing something right.
Part of what they’re doing right is their global approach, their site is translated to over 30 languages which as yet no other broker is able to match.
They hold regulation under the RAFMM , FFMS and offer the almost ridiculous leverage of 1000:1
The main platform at InstaForex is the renowned MetaTrader4.
MetaTrader 4 is one of the most popular trading platforms in the industry today . It allows traders to execute Forex deals through InstaForex and to receive quotations for the major currency pairs, crosses, world stock indexes.
The MT4 platform offers everything needed for a trader to monitor the financial instruments behavior and conduct technical analysis. Traders can trade Forex, CFD and futures on the MetaTrader4 platform. Reference to the MT5 was given on the InstaForex site but this platform is not yet offered to traders.
The InstaForex MetaTrader 4 is highly reliable, multifunctional and convenient. It also runs on the MS Windows OS and can be downloaded easily to Androids, Blackberrys, and iPhones.
The Multiterminal platform allows traders to work with several InstaForex trading accounts at once and is an ideal tool for traders who are able to manage more than one account at the same time.
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 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.
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.
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 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.
|Based In||Kaliningrad, Russia|
|Telephone||https://www.instaforex.com/support they offer many forms of communication|
|Platform||MetaTrader 4, Metatrader 5|
|Regulated||Fully RAFMM Regulated|
|Mobile Specific Trading||Yes, Android & iPhone App|
|Account Currencies||USD, EUR, GBP, SEK and RUB|
|Languages||Arabic, Azerbaijani, Bulgarian, Chinese, Czech, Dutch, English, Georgian, German, Indonesian, Italian, Japanese, Latvian/Latish, Lithuanian, Malay, Polish, Portuguese, Russian, Slovak, Spanish, Turkish, Ukrainian, Urdu, Vietnamese|
|Trading server time zone||GMT+3|
|Type of Broker||No dealing desk|
|Underlying Assets||Metals, Oil, Gold, Currencies, CFD’s|
|Minimum Deposit||200 USD, 200 EUR, 200 GBP, 20,000 JPY|
|Deposit Methods||AlertPay , Bank Wire Transfer , Credit Card , EuroGoldCash , Global Digital Pay transfer , Liberty Reserve , Moneybookers , PerfectMoney , QIWI , RBK money , Webmoney , Yandex.Money|
|Withdrawal Time||Up to 2+ business days for processing, 5-7 days to be in your account|
|Documentation Needed for Withdrawal||Photo ID and proof of address. ie. utility bill|
|Support||Email, Forum, Live chat, Office, Phone, Skype|
|Support Languages||Spanish, German, Russian, French, Portuguese, Turkish, Arabic, Polish, Chinese, Japanese, Farsi, Hindi, Indonesian, Latvian, Lithuanian, Malaysian, Romanian, Thai, Azerbaijani, Georgian|
|Platform Features||Market Commentary|
|Place Trades over the Phone|
|Streaming News Feed|
|Free Tools||Free VPS Hosting Service|
Bonuses & Promotions
Instaforex is know for its wide range of contests. The price money they offer is sometimes huge and it would be worth it to check out what the current promotions are concerning this.
These are the ones currently running
|Beauty contest Miss Insta Asia 2016||Miss Insta Asia beauty contest! The numerous contestants from all over the world are competing for the Beauty Queen title! The contest lasts for 1 year. The total prize fund is $45,000.|
|BMW X6 from InstaForex||Win BMW X6 from InstaForex, with the main prize – powerful luxury cross-over BMW X6. The campaign is open between December 28, 2015 and December 29, 2017.|
|Chancy Deposit||InstaForex raffles off $1,000 weekly under the Chancy Deposit contest. If you want to partake, replenish your trading account with no less than $3,000. The winner of $1,000 is determined randomly every week via the individual number. Thus, you just do your routine trading and get a chance to be among the luckiest ones to get $1,000 at the end of the week without any restrictions to withdrawal.|
|Don’t dream it, win it! Jaguar F-Type from InstaForex||The campaign “Don’t dream it, win it! Jaguar F-Type from InstaForex” begins on October 27, 2014 and comes to an end on October 31, 2016. The main prize is a powerful supercar of premium class Jaguar F-Type.|
|FX-1 Rally by InstaForex||If you have a demo account with InstaForex, you are free to partake in FX-1 Rally by InstaForex. Weekly prize fund totals $1,500. There are no restrictions on participation in this contest.|
|Heading to Anfield again||Have you ever dreamed of taking a fully-paid trip to Great Britain as a VIP guest of Liverpool FC and watching the game of the renowned team? Your dream can come true as early as this spring thanks to your vast knowledge about the legendary football club!|
|InstaForex Great Race 2016||The contest includes four stages and the final with the prize pool $55,000 and is open from March 7 till December 23, 2016. Great Race 2016 is an opportunity to check your knowledge in Forex trading and a chance to win real funds to your trading account.|
|InstaForex Sniper||Are you a newcomer on Forex and own a demo account with InstaForex? Then InstaForex Sniper is what you need! There are no restrictions to participation. The weekly prize is $1,500. The annual prize pool totals $75,000.|
|Lucky Trader||Every holder of a demo account with InstaForex can enter the Lucky Trader contest. Every fortnight $3,000 are raffled off. The annual prize pool is $75,000. Get enrolled in the next step during the current contest.|
|One Million Option||The One Million Option is a weekly contest in which every owner of a demo account with InstaForex can take part. Option is the main trading instrument of this contest. The weekly prize pool tally is $1,500. There are no restrictions for InstaForex customers on taking part in the contest.|
|Real Scalping InstaForex||Do not hesitate to participate in the Real Scalping InstaForex contest held among InstaForex demo accounts. The monthly prize pool is $6,000. The total prize money is $72,000. The monthly contest starts at 00:00 terminal time on the first Monday of every month and ends at 23:59:59 every last Friday of the month.|
|Trade Wise, Win Device||InstaForex clients are able to win an iPad, iPhone, Blackberry, and Samsung Galaxy Tab in the course of the Trade Wise, Win Device contest. Replenish your trading account with $500 and scramble for one of 12 devices. The owner of every device is randomly determined by transparent and impartial procedure.|
|Feature||Insta Standard||Insta Eurica||Cent Standard||Cent Eurica|
|Minimum account size||$1||$1||$1||$1|
|Minimum position size||0.01 lot||0.01 lot||0.0001 lot||0.0001 lot|
|Spread on EUR/USD, pips||pips 3||0||0||0|
|Commission (one-way)||per 1 std Lot||lot $30|
|Trading instruments||forex 1:1000||forex 1:1000||forex 1:1000||forex 1:1000|
|Gold & silver 1:100||Gold & silver 1:100||Gold & silver 1:100||Gold & silver 1:100|
|CFD 1:10||CFD 1:10||CFD 1:10||CFD 1:10|
|Binary Options||Binary Options||Binary Options||Binary Options|
|Trading platform||Metatrader 4 & 5||Metatrader 4 & 5||Metatrader 4 & 5||Metatrader 4 & 5|
|Digits after dot||10%||10%||10%||10%|
|Number of currency pairs (of which exotic)||107 (60)||107 (60)||107 (60)||107 (60)|
|Overnight interest rates (swaps)||Yes||Yes||Yes||Yes|
|Currency||EUR/USD||CFD, Metal||GOLD||Futures and Indices CFD||Platinum|
|Currency||GBP/USD||CFD, Metal||SILVER||Futures and Indices CFD||Brent Crude Oil|
|Currency||USD/JPY||CFD, Metal||Bitcoin||Futures and Indices CFD||Cocoa|
|Currency||USD/CHF||CFD, Metal||XAUUSD||Futures and Indices CFD||Coffee|
|Currency||USD/CAD||CFD, Metal||AA||Futures and Indices CFD||Cotton|
|Currency||AUD/USD||CFD, Metal||AAPL||Futures and Indices CFD||Crude Oil Light Sweet|
|Currency||NZD/USD||CFD, Metal||ADBE||Futures and Indices CFD||DAX 30|
|Currency||EUR/JPY||CFD, Metal||AIG||Futures and Indices CFD||Dow Jones Industrial Average|
|Currency||EUR/CHF||CFD, Metal||AMD||Futures and Indices CFD||Euronext 100|
|Currency||EUR/GBP||CFD, Metal||AMZN||Futures and Indices CFD||FTSE 100|
|Currency||AUD/CAD||CFD, Metal||AXP||Futures and Indices CFD||Futures Copper|
|Currency||AUD/CHF||CFD, Metal||BA||Futures and Indices CFD||Futures Corn|
|Currency||AUD/JPY||CFD, Metal||BAC||Futures and Indices CFD||Futures Feeder Cattle|
|Currency||CAD/CHF||CFD, Metal||BHP||Futures and Indices CFD||Futures Gold|
|Currency||CAD/JPY||CFD, Metal||BIDU||Futures and Indices CFD||Futures Lean Hog|
|Currency||CHF/JPY||CFD, Metal||BK||Futures and Indices CFD||Futures Live Cattle|
|Currency||NZD/CAD||CFD, Metal||C||Futures and Indices CFD||Futures Silver|
|Currency||NZD/CHF||CFD, Metal||CAT||Futures and Indices CFD||Futures Soybean Meal|
|Currency||NZD/JPY||CFD, Metal||CHL||Futures and Indices CFD||Futures Soybean Oil|
|Currency||EUR/AUD||CFD, Metal||CMCSA||Futures and Indices CFD||Futures Soybeans|
|Currency||GBP/CHF||CFD, Metal||CSCO||Futures and Indices CFD||Futures Wheat|
|Currency||GBP/JPY||CFD, Metal||CVX||Futures and Indices CFD||Hang Seng Index|
|Currency||AUD/NZD||CFD, Metal||DD||Futures and Indices CFD||Heating Oil|
|Currency||EUR/CAD||CFD, Metal||DIS||Futures and Indices CFD||Lumber|
|Currency||EUR/NZD||CFD, Metal||EBAY||Futures and Indices CFD||miNY Crude Oil|
|Currency||GBP/AUD||CFD, Metal||F||Futures and Indices CFD||miNY Natural Gas|
|Currency||GBP/CAD||CFD, Metal||FB||Futures and Indices CFD||NASDAQ Composite|
|Currency||GBP/NZD||CFD, Metal||FCX||Futures and Indices CFD||Natural Gas|
|Currency||USD/DKK||CFD, Metal||FDX||Futures and Indices CFD||Nikkei 225|
|Currency||USD/NOK||CFD, Metal||FSLR||Futures and Indices CFD||NY Harbor Gasoline|
|Currency||USD/SEK||CFD, Metal||GE||Futures and Indices CFD||Orange Juice|
|Currency||USD/ZAR||CFD, Metal||GILD||Futures and Indices CFD||Palladium|
|Currency||AUD/CZK||CFD, Metal||GOOG||Futures and Indices CFD||S&P 500 Index|
|Currency||AUD/DKK||CFD, Metal||GS||Futures and Indices CFD||Sugar|
|Currency||AUD/HKD||CFD, Metal||HAL||Futures and Indices CFD||US Dollar Index|