Instaforex Review

InstaForex Review
  • Regulation: None
  • History: Fined By Regulators, License Revoked (BR)
  • Reputation: Poor, Scam Warning On FPA


“Scam Warning” by ForexPeaceArmy. Regulator fines for operating with a license. The only license they had, in Brazil, was revoked. Our sites constantly gets “positive” reviews of this company which appear very suspicious. So regardless of trading conditions which aren’t bad (though scalping is prohibited), this is one broker you would want to avoid at all costs.

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Important Facts

  • Company: InstaForex is the trading name of InstaForex Group.
  • Founded: 2007
  • Payment Options: Bitcoin, CashU, Credit/debit cards, EgoPay, Neteller, Skrill (Moneybookers), Ukash, UnionPay, WebMoney and Wire transfer.
  • Platforms: MetaTrader 4 for Mac, PC and Mobile.
  • Accounts Available In: EUR & USD.
  • Minimum Deposit: $1.
  • Regulation: Unregulated.
  • Social Trading: ForexCopy System.
  • Support Options: Email, Forum, Live Chat, Phone and Skype.
  • Scam altert!


– We have been receiving numerous “positive” reviews on InstaForex from the same IP number @ We have detected them as fake, which only contributes to our high negative opinion of this Forex Provider –

– We are still getting a flood of reviews that we deem not genuine. Several comments from the same user names and IPs using different emails. Comments that sound very generic hailing and praising InstraForex as the most reliable broker. We strongly suggest to stop doing so. –


InstaForex relies heavily on the MetaTrader 4 platform from MetaQuotes, with the brokerage offering the platform for both Windows and Mac. Additionally, the company offers a Multiterminal platform which allows individuals to manage several FX accounts at once from one trading terminal, ideal for those who are managing client accounts. When it comes to mobile trading the brokerage again relies heavily on the MT4 platform with the brokerage offering the platform to those using Android, Blackberry and Apple smart-phones, ensuring that the majority of currently available smart phones are supported. Those who are fans of the MetaTrader 4 platform will pleased by the fact that they are able to use the MT4 platform across the range of devices. Those who are not fans of the platform will be unlikely to want use a brokerage that relies on MetaQuotes software so heavily.

Trading Conditions

  • Leverage: Up to 1000:1 on FX pairings.
  • Scalping: Forbidden.
  • Expert Advisors: Allowed with limitations on scalping.
  • Trailing Stops: Allowed.
  • EUR/USD Spread: 3 pips on Standard Accounts, 0 pips plus commission on Eurica accounts.

InstaForex claims to operate using an ECN execution model, which would mean that the brokerage simply matches up clients trades against one another. This claim has been seen as spurious by many commentators who have pointed out that brokerages which operate as ECN’s have no need to place limitations on scalping or news trading, with it being possible for the brokerage to profit regardless of whether traders win or lose money. It is not possible to know whether the brokerage does in fact operate ECN, without having access to the firms internal workings. But the aforementioned facts do seem to suggest that the brokerage may not offer a true ECN service. In addition, there have been numerous complaints regarding manipulation by the brokerage, however the veracity of these claims are hard to verify. Many have been attracted by the large amounts of leverage that the brokerage offers on currency pairings which goes above and beyond the kinds of leverage offered by the majority of regulated firms.


  • Number of Currency Pairings: 107 FX Pairings
  • Other Instruments: Gold & Silver, and wide selection of Stock CFD’s.

InstaForex offers one of the largest selections of FX pairings, with the brokerage boasting a total of 107 pairings. This is well above the range on offer at other brokerages and may be part of the reason why the brokerage is particularly popular with traders in South-east Asia and Eastern Europe who are keen to trade their local currencies, which may not been on offer at brokerages who offer a less significant range of currency pairings. In addition, the brokerage offers a wide range of Stocks through CFD’s, which again will appeal to those who want to trade a large number of instruments all via one brokerage. Despite this the dubious trading conditions on offer at the brokerage should put many off, with their being other brokerages who offer similar multi-asset trading with superior trading conditions.

Customer Service

  • Contact Methods: Email, Phone, Skype, Callback, Live Chat and a Support Forum.
  • Phone Numbers: A wide range number of toll free international phone numbers.
  • Support Languages: A wide range of European and Asian languages.

InstaForex offers customer support in a wide range of languages and gives customer plenty of options when it comes to getting into contact with the brokerage. Despite this the brokerage has a somewhat poor reputation regarding customer service, with it being possible to find a number of complaints regarding the brokerage across various sites on the internet. The brokerage caused considerable controversy back in May 2013, when they announced that funds deposited by Liberty Pay would not be able to be withdrawn for six months and even then customers would only be able to withdraw 50% of the sum deposited through the now defunct payment system. Incidents like this have put many people off doing business with the brokerage.


  • Regulated: No, InstaForex is an unregulated brokerage. Opting to instead become a member of a number of “consumer protection groups”.
  • MiFID Regulated: No, as previously stated InstaForex is unregulated and therefore cannot legally accept clients based within the European Economic Area.
  • US Traders: No, InstaForex cannot accept US residents. The brokerage was previously fined a total of $140,000 for accepting US traders.
  • Regulatory Record: InstaForex has been fined by the CTFC, had it’s Belizean regulatory licence terminated and been put on a number of regulators warning lists.

On InstaForex’s official website the firm states that it is regulated by Finprotrebsouz and The Russian Association of Financial Market Members. These are not official governmental bodies but are rather Self-Regulatory Organisations, which set out guidelines by which their member are meant to follow and attempt to resolve disputes between brokerages and their clients. These organisations provide little if any protection with the neutrality of these organisations being highly questionable. At the time writing the provision of FX brokerage services is not a regulated activity within the Russian Federation which means firms based in the country do not have to be regulated. In addition to these concerns, InstaForex has been in a number of scrapes with financial regulators with the brokerage being fined a total of $140,000 for taking on US clients when they did not have the necessary regulatory approval to do so. Additionally, the brokerage features heavily on a number of regulatory warning lists, with French financial regulators the AMF having warned European citizens that the firm is not regulated to do business within the European Economic Area. The lack of proper regulatory oversight and the fact the company has number warnings against them should be enough to put most sensible traders off using the brokerage.


Unregulated and with a rather poor reputation, InstaForex is one of the brokerages which would be better off avoided. Despite this you will find a number of people who are very satisfied customers, and having nothing but good things to say about the firm. Here at The FX View, we recommend that traders avoid unregulated brokerages and therefore suggest that traders interested in trading with InstaForex look in to other alternatives.

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What did you think of our InstaForex Review? We would love to have your feedback, please share with us what you think of the brokerage.

7 thoughts on “InstaForex Review

  1. I didn’t have issues with them when I was losing. Mostly I try to beat them at their game. If you are too profitable they will make you lose for sure. What I do to beat them at their system is take on their affiliate commissions by referring myself. What kind of broker will let you trade without prior request for your identity? They request for that when they want to frustrate you.
    My advice is to open an account , refer yourself unto their affiliate program and open and close trades on the 30 min chart. Scalping on 30, 1 hour and 4 hour chart beats their rule. You should look for the 1.5 pip commission, open up to 8 trades a day, max should be 10 and you are good. I trade 100 instalots which is 10 industry standard lots and so make $150 per trade in the other account. That’s how i make $1000 a day off insta. The commission I make i trade sparingly and withdraw most of the rest.

  2. Note: I have removed all positive InstaForex reviews because an expert analysis showed me they are suspicious at best, possibly fake. Stop commenting here or I will take this forward.

    Dear Aa,

    Thank you for considering InstaForex as your broker, we greatly appreciate your comment. have a good day!

    InstaForex Gertrude

  3. I have a good opinion of this broker. They taught me how to trade and I keep on learning about forex market with all material included in its website. PAMM system seems to be a good way to earn money as an investor; all profits are split in equal parts and you can monitor the trader you choose.


    I am so happy with InstaForex because thanks to this broker I have increased my money a lot and have develop new trading strategies. Also, all my trades was so profitable up to now and this broker has excellent programs. In fact, I can transferred one part of my profits to my bank account thanks to the segregate accounts system this broker provides.

  5. For me, InstaForex is the best broker, they always give me a lot of benefits to trade with them, like different bonuses and contests to participate to learn and earn at the same time. Up to now, I haven’t had any problems with them, my trading has been so useful up to now and I have received all my profits on time.

  6. I definitely prefer to trade with InstaForex instead of another broker. I have worked with different brokers, but InstaForex offers the best trading terms, benefits and services. For example, PAMM and ForexCopy system are great to get earnings if you’re a newbie in this market. I tried ForexCopy system and just copying trades from other traders I could get my first earnings. Also, there is a wide range of bonuses available to all clients. They help me a lot to increase my deposits.

  7. I liked trading Expertoption, the platform is comfortable and the interest is quite adequate. I am satisfied with the choice, everything is working quite adequately, and money can be earned normally.

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