InstaForex Review.
Instaforex offers a huge selection of currency pairs and copy-trading capability. But that's not all.
Tim Fries.
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University .
Reviewed by.
Shane Neagle.
Shane Neagle.
Meet Shane. Shane first starting working with The Tokenist in September of 2018 — and has happily stuck around ever since. Originally from Maine, .
Updated January 06, 2022.
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It’s not easy learning a new craft, especially one that is full of numbers, charts, and odd terminology – but it is probably easier than you think. After all, the forex market is growing as COVID-19’s economic impact has drastically impacted the world’s leading currencies.
Naturally, the forex brokers of the world have seen a huge influx of new clients since COVID-19 began and are upping their offers to grab a piece of this gigantic pie.
One of the more competitive brokerages is InstaForex, an award-winning company that offers its 7 million clients many handy features including copy-trading.
If you’re not confident enough in your trading strategies or just don’t have time to manage your portfolio, you can use this feature and still make solid trades. Essentially, copy-trading means following expert traders through your trading app, looking at what they do, and copying their trades instantly with a simple push of a button.
That way, you can earn a profit without spending the time to do it all by yourself. If you have any sort of inquiries pertaining to where and the best ways to utilize
binary option copy trade, you could contact us at our own web site. However, this feature isn’t impressive on its own, which is why InstaForex has made sure traders have everything else they need for a pleasant and profitable trading experience.
In this review, we will cover all the aspects of this brokerage to see if it is safe, easy-to-use, cheap, and worth your time in general.
Ready? Let’s jump in.
InstaForex is a Cyprus-based brokerage that mostly caters to forex traders. Some fees are higher than average but the broker offers solid educational resources, a large investment selection, and unique features like copy-trading.
Fast Facts.
Regulation: CySec (Cyprus an EU) Minimum Deposit: $0 Demo Account: Yes Asset Coverage: 107 currency pairs, 5 cryptocurrencies, CFDs on stocks, gold, silver, commodities, etc. Best For: Currency traders interested in copy-trading.
Ratings.
Visit InstaForex on InstaForex’s website.
What is InstaForex?
InstaForex is an international forex broker that provides an accessible trading platform to a whopping 7 million customers worldwide. The broker was founded in 2007 in Kaliningrad, ****** but has since grown with over 260 offices spread across the world.
The brokerage is mainly focused on user-friendly forex trading and has won over 30 awards in this area. Among other things, InstaForex has gotten accolades for having the best copy-trading platform in the UK, as well as being the best broker in Asia, and the best ECN broker in Europe.
Regulation: Is InstaForex Legitimate?
As a globally-available broker, InstaForex is regulated by multiple financial institutions including the FSC and the BVI. EU clients are protected by CySec, the only top-tier regulator keeping its watchful eye on InstaForex.
Moreover, InstaForex is a member of the Investor Compensation Fund (ICF) in the EU. This means that the broker’s European clients are insured by up to €20,000 in case their account balances are somehow unrightfully damaged. This membership is not a small matter – unruly brokers get their licenses taken away regularly for not complying with the ICF.
InstaForex also provides negative balance protection, which means clients’ balances cannot go below zero in case they make a bad, overly-leveraged trade – this is a must for all beginners, as it heavily reduces trading risks.
On the downside, the broker isn’t listed on a stock exchange and is not regulated by any top-tier regulators aside from CySec. Nonetheless, InstaForex is still regarded as a safe and regulated brokerage due to its reputation and adherence to regulations – this is a trend among ******* forex brokers that are steadily changing their reputation for the better.
InstaForex Compared.
Average spread EUR/USD standard.
All-in cost EUR/USD - active.
Minimum initial deposit.
Total currency pairs.
Demo account?
Social / copy trading?
7.5 /10 Visit InstaForex on InstaForex's website.
9.0 /10 Visit Pepperstone on Pepperstone's website.
Average spread EUR/USD standard.
All-in cost EUR/USD - active.
Minimum initial deposit.
Total currency pairs.
Demo account?
Social / copy trading?
9.0 /10 Visit Pepperstone on Pepperstone's website.
8.0 /10 Visit Interactive Brokers on Interactive Brokers' website.
Average spread EUR/USD standard.
All-in cost EUR/USD - active.
Minimum initial deposit.
Total currency pairs.
Social / copy trading?
7.5 /10 Visit InstaForex on InstaForex's website.
9.0 /10 Visit Pepperstone on Pepperstone's website.
8.0 /10 Visit Interactive Brokers on Interactive Brokers' website.
InstaForex Fees Explained
The pricing structure on InstaForex depends heavily on what account type you choose. Most options include fixed or floating spreads but some accounts pay the broker via commissions.
The Insta.Standard account is for all kinds of traders and has fixed spreads ranging from 2 to 7 pips, therefore, some fees are low and some are high. For example, the EUR/USD pair is 3 pips, which is almost 2 times more than what other top forex brokers ask.
A little more beginner-friendly is the Insta.Eurica account. The fees here are paid through commissions and range from 0.02% to 0.07%, which is competitive. Also, Insta.Eurica has leverage up to 1:1000, depending on what product you’re trading.
Not sure where to start with forex? Begin your journey with this complete guide to forex trading.
The ECN trading account uses floating spreads which are 1.2 pips on average – very cheap compared to Insta.Standard. One step above is the ECN Pro account where the average spread is 0.8 pips – however, the Pro account requires a $1,000 minimum deposit.
If you like scalping, then you need a specialized account. The Scalping account uses the same average float spread of 1.2 pips and is used exclusively for making quick, low-profit deals. This is one of the forex trading strategies that’s not allowed with most other brokerages, making InstaForex great for traders who use this method.
Instaforex Fees Insta.Standard Insta.Eurica ECN ECN Pro Scalping Minimum deposit 0 0 €100 €1,000 €100 Spreads Fixed 3-7 spreads N/A Avg. floating 1.2 pips Avg. floating 0.8 pips Avg. floating 1.2 pips Fees N/A 0.02% - 0.07% N/A N/A N/A.
Deposit & Withdrawal Processes
There are practically no downsides to InstaTrades’s deposit and withdrawal options. All withdrawals are free and
only take up to 3 days – however, some fees may apply but that depends on your country’s laws and regulations. To be completely safe, contact the broker’s customer service and ask about withdrawal fees.