InstaForex Review 2024 with Rankings By Dumb Little Man

By Wilbert S

January 10, 2024   •   Fact checked by Dumb Little Man

Overall Rating

Overall Ranking

Trading Terminals



Evaluation Criteria

At Dumb Little Man, our team follows the same evaluation criteria when reviewing any broker to ensure accuracy and transparency. In addition, we conduct a thorough analysis to ensure that financial losses are reduced, providing assurance and peace of mind when engaging in any form of trading or investing through a brokerage platform.

Our team is steadfast in its selection and assessment of brokerages, utilizing a consistent set of criteria. We also employ numerous indicators to evaluate each brokerage's proficiency. This guarantees that the evaluation process remains impartial for all the brokers we review.

We carefully assess the quality of a brokerage service by utilizing an in-depth set of criteria. We judge performance based on these key elements:

  • Convenience
  • Profitability
  • Reliability
  • Broker's Competency
  • Affordability

Based on our experience, utilizing these key elements ensures a comprehensive brokerage evaluation. After thoroughly examining InstaForex, we have found this broker to be highly satisfactory in all of these criteria. In addition, InstaForex also offers a variety of educational materials and resources to help traders increase their knowledge base and skill set.

InstaForex Review

Successful copy traders are able to make a decent income from their investments, and InstaForex is one of the best forex trading platforms that supports copy trading. InstaForex is a broker founded in 2007 and offers services to customers from over 200 countries. With more than 7 million traders globally, it has become one of the largest brokers.

InstaForex allows traders to trade around 300 different trading assets, including the ForexCopy system and PAMM investment making it suitable for both experienced and beginners. Furthermore, it offers useful features such as leverage of up to 1:1000 and negative balance protection for all accounts.

InstaForex is held to the highest standards of trustworthiness and professionalism as they are regulated by the British Virgin Islands Financial Services Commission (FSC) with oversight from their Securities and Investment Business Act. With an exemplary record for ethical trading practices, InstaForex has earned a stellar reputation among investors around the globe and has received several awards since its launch.

To help you decide if InstaForex is the right choice, we have compiled this review to understand the broker’s overall features and services. We have also looked at the Pros and Cons, customer reviews, and in-depth information about spreads, fees, and much more. So, let’s dive right into the details.

What is InstaForex?

Instant trading EU LTD is a leading brokerage firm, providing Forex and CFD trading to over seven million customers across the globe. Established in 2007 in Kaliningrad, Russia, the broker has rapidly expanded with over 260 offices dotted across the globe. By establishing itself as one of the most recognizable brands with various high-profile sponsorships, InstaForex has quickly become one of the fastest-growing companies in the world.

InstaForex is your go-to solution for top-tier technology from the world’s best developers, providing you with direct market access and a trading experience powered by major counteragents. In addition, this broker offers an array of trading instruments, an analysis section, and several low-cost deposit options to help you start trading. The broker also offers competitive spreads and leverage up to 1:1000.

The registered traders have the opportunity to work on the most sought-after platforms like MetaTrader 4 and 5. To make their service even more efficient, InstaForex created a secure website and an app for Android and iOS users so they can manage multiple accounts on the go.

Safety and Security of InstaForex

When clients sign up with InstaForex Company, they can rest easy knowing that their financial and technological data is secure as the company meets banking standards. For instance, traders can bind their mobile number to their trading account in the client for extra security.

This will require the user to enter a unique SMS code when withdrawing from the account. Consequently, an added layer of protection is established so that only authorized users can make changes and access funds within the account. Moreover, InstaForex is an officially registered and certified broker authorized by the Financial Services Commission (FSC) of the British Virgin Islands under the Securities and Investment Business Act (SIBA).

In addition, there is two-factor authentication for extra security. In addition, InstaForex has taken the extra step to make sure that their client’s data is secure and protected from any malicious attacks by implementing SSL and DDoS protection. The company is highly regulated in several jurisdictions, with licenses and authorization from the Financial Commission, FCA UK, and CySEC, among others.

Moreover, InstaForex ensures the complete security of its customers’ funds by providing segregated accounts. This means that all funds are separated from the broker’s own assets and can never be used to provide liquidity. Therefore, if you opt for a segregated account option, 70% of your deposit can safely be stored in a bank account or with an authority figure who has proven reliable.

Sign Up Bonus of InstaForex

With InstaForex, you can receive a 100% bonus on your first deposit, which is available to everyone. To get a 100% bonus, you just need to sign-up and open a live trading account. Additionally, you can withdraw the profits acquired through bonus funds without any limits.

InstaForex offers a generous 55% bonus for each account replenishment, with no limit to the maximum amount. Additionally, you can enjoy an extra 30% reward for every deposit. This offer stands regardless of how well (or poorly) your last deals went, so take advantage of this great opportunity to maximize your earnings.

Minimum Deposit of InstaForex

InstaForex offers 4 different types of accounts, each with just a $1 minimum deposit. With just $1, you can open an account and start live trading. Moreover, no fees are charged for depositing or withdrawing your funds, making it one of the most competitive brokers in the market.

The range of deposit options you can use to fund your trading account is quite broad, including Visa, Mastercard, Bank Wire, PayCo, Litecoin, ETH, Tether, Bitcoin, and more. InstaForex also offers the copy trading option; the minimum deposit to start copying is $10.

Account Types

Below are the account types offered by InstaForex:

#1. Cent.Standard and Eurica Account

Both these account types are designed for beginner traders and grant access to the bare minimum trade volume. In addition, Micro Forex is accessible with a lot size of 0.0001 (amounting to only 0.1 U.S. cents per trade). It hence enables users to practice trading without having much at stake— making it an ideal choice for those who wish to apply tested strategies while mitigating risks through its minimum lot advantage of 0.10.

With no difference in trading terms between Insta.Standard and Cent.Eurica, the only limitation of cent accounts is their maximum deposit size — ideally suited for beginner traders. Moreover, with a minimum trade volume of 0.0001 market lots available to both types of accounts, you can experience secure and seamless trades with us.

  • Deposit Currency: EUR-USD Cents
  • Minimum Deposit: $1
  • Spreads: 3-7
  • Lot Size: 0.10 to 10,000
  • Fee: 0

#2. Insta.Standard Trading Accounts

Insta.Standard accounts are perfect for traders of all types, enabling a trade settlement with a classical spread without any extra fees. The best part about this type of account is its overall versatility – you can adjust the trading leverage to your liking and work on deposits that fit your budget.

The account offers you three distinct trading options for Micro Forex (deposit as low as $1-10), Mini Forex ($100 minimum deposit), and Standard Forex ($1000 initial investment). The account features are designed to facilitate every trader, from beginners to veterans, no matter what level their portfolio is currently at.

Deposit Currency: EUR-USD

  • Minimum Deposit: $1
  • Spreads: 3-7
  • Lot Size: 0.01 to 10,000
  • Fee: 0

#3. Insta.Eurica Trading Accounts

Insta.The Eurica account is perfect for newbie traders. Using this account, you won’t have to consider how spreads affect pending orders because they are executed when prices reach their values if the spread equals 0. Before GTC orders and market entry take place, there’s no need to figure out how spreads will influence your position’s outcome – making technical analysis incredibly successful.

Novice traders can gain a better understanding of the market through Insta.Eurica accounts as its trading system is simpler to navigate, yet even experienced professionals find this account type beneficial due to its similarities with Insta.Standard account.

  • Deposit Currency: EUR-USD
  • Minimum Deposit: $1
  • Spreads: 0
  • Lot Size: 0.01 to 10,000
  • Fee: 0.03%- 0.07%

#4. Demo Account

InstaForex offers traders free demo accounts loaded with virtual funds to help them try out the broker’s selection of instruments like binary options. InstaForex also provides its users with various copy trading tools and other services. When you feel confident in your abilities, it’s easy to transition from the demo account to a real-money one and start trading for real. InstaForex also offers regular bonuses and promotions to keep traders on their toes.

InstaForex Customer Reviews

Our team at Dumb Little Man looked at the customer reviews of InstaForex and found them overwhelmingly positive. Many traders love the low initial deposit requirement, ease of use, and no slippage issue. In addition, traders appreciate fast withdrawals, low spreads, and great customer service.

However, a few of the fellow traders complained about bonuses needing to be credited properly, but the customer support team of InstaForex quickly resolved the matter. After reviewing all the customer reviews, InstaForex is a reliable forex broker that many traders trust.

InstaForex Spreads, Fees, and Commissions

The spreads, fees, and commissions on InstaForex depend on the account type traders choose to operate.

InstaForex Spreads

The spreads offered on Eurica Trading Account starts from 0.0 pips. However, the Standard Trading Account spreads start between 3 to 7 pips.

InstaForex Fee

InstaForex doesn’t charge any fees for trading or making deposits, but you might have to pay a fee while withdrawing your money.

InstaForex Commissions

InstaForex doesn’t charge any commissions on Insta.Standard and Cent.Standard and Eurica accounts. Replenishing your trading account through the widely used payment system is entirely commission-free. But remember that commissions are charged by the e-payment system or bank you use to withdraw funds. Moreover, on the Eurica trading account, a commission of 0.03% to 0.07% is charged.

Deposit and Withdrawal Fees

InstaForex offers exceptional deposit and withdrawal options, with all withdrawals being complementary. Furthermore, the funds arrive in your bank account within three days. The best part is that this timeframe applies to customers located anywhere worldwide. Although some countries might require a payment fee, it’s easy to find out if you’re affected by simply reaching out to their customer support.

Whether you’re looking to deposit or withdraw funds, InstaForex offers a variety of options – from VISA/Mastercard and Qiwi to NETELLER and BitCoin. They also accept Skrill, B2BinPay, PayCo, LiteCoin, and ETH payments and payment terminals for your convenience. Besides that, bank currency transfers are available if that’s what you’d prefer. Alternatively, customers can even pay with cash through our official dealers.

InstaForex is ahead of the curve by offering Bitcoin funding as an option for account deposits, setting them apart from many other forex brokers. Furthermore, there’s no minimum deposit requirement for most account types, and you have a selection of base currencies to choose from; USD, EUR, and RUB are the top picks.

Withdrawing to e-systems is quick and convenient — money will be deposited into your account within 1-15 minutes. However, if you choose to replenish or withdraw funds from a bank card or through a bank transfer, the process can take anywhere from 2-6 business days.

PayCo stands out in the crowd with its no-fee withdrawals, while most electronic payment systems charge a fee of 0.5%-3.5%. In addition, if you withdraw more than $1,000, you must provide verifications.

How To Open an InstaForex Account – Step by Step Guide

Here is a step-by-step guide to open an account on Insta Forex market:

  • Go to the official website, and click on ‘open trading account.’
  • On the next screen, you’ll see 3 steps i-e Initialization, personal data, and account type:
  • Next, add your status (Individual, company) and email, and click on Proceed.
  • In the next step, add your personal information like name, DOB, Resident Details, and Phone number. Then, click on the proceed button to continue.
  • In the 3rd and last step, generate your password/ code word, choose your account type, server, and leverage, and click on ‘open account.’
  • In the next window, you will see your account name, password, and popular deposit amounts.
  • Deposit your funds and start trading.

InstaForex Affiliate Program

InstaForex broker also offers its customers an affiliate program in which they can become part of their partner network and earn commissions while traders make transactions on the platform. This is an excellent way to make an additional income by referring friends and family interested in trading forex.

As an Affiliate Partner, you will receive payment of 1.5 to 5.3 pips for every successful trade made by clients that your referrals brought in, as well as 0.2 pips from each referral attracted by sub-partners. Moreover, you can earn from $15 to $20 per lot and up to $2,000 from deposit bonuses.

Let’s have a look at how much InstaForex is obliged to pay affiliate commissions:

  • 1.2 pips commission on CFDs
  • 1.5 pip commissions on forex major
  • Futures from the company will award affiliates with a generous 33.3% commission for any given contract
  • $20 on gold; and $10 on Silver

Sign-up for the InstaForex partners program now!

InstaForex Customer Support

InstaForex offers 24/7 customer support with its team of dedicated advisors who are available via live chat, email, or social media. So whether you have a simple query or an issue that needs resolving, InstaForex’s customer service team is always on hand to help.

InstaForex offers excellent customer service, available in 25 languages. You can speak to a team member over the phone or engage with them through live chat via Telegram, Skype, Viber, WhatsApp, and Twitter.

In addition, you can email their support team at [email protected] or request a callback. They also offer a range of guides and tutorials to help traders get the most out of their InstaForex trading experience. However, the Financial Department Operations Department is open during business hours, Monday through Friday, between 8 am and 5 pm.

Contact Details

  • Email: [email protected]
  • Address: 4th Floor, Water’s Edge Building, Meridian Plaza, Road Town, Tortola, British Virgin Islands
  • Skype:  ifx.clients

Advantages and Disadvantages of InstaForex Customer Support

Advantages Disadvantages
  • Live chat and call back function
  • Customer support in 25 different languages
  • Online chat via social media
  • Live chat is available within just business hours
  • Traders cannot call directly

InstaForex Vs. Other Brokers

Below is the comparison of InstaForex with other popular brokers:

#1. InstaForex vs. Avatrade

AvaTrade, established in 2005, is a major trading platform for professional traders worldwide. In no time at all, Avatrade made its mark on the trading industry and has since been favored by many; not only has the number of users increased significantly over the years but so have their profits.

On the other hand, InstaForex, established in 2007, is a reliable broker with over 10 million traders worldwide. The company provides an easy-to-use trading platform that offers more than 300 financial instruments (including forex, CFDs, and cryptocurrencies). Moreover, it provides its customers with an exceptional customer service team and a wide range of bonus programs.

InstaForex is a good choice for traders just starting in the trading industry. At the same time, AvaTrade is more suitable for experienced traders looking to trade in high volume and take advantage of advanced features.

However, if InstaForex and AvaTrade are compared, AvaTrade slightly outperforms InstaForex due to its superior trading conditions, wide range of trading instruments, and more. In addition, AvaTrade is regulated by the three top-tier regulatory bodies, offering traders a safe and secure trading environment. Therefore, when choosing between AvaTrade and InstaForex, AvaTrade is the better choice.

#2. InstaForex vs. RoboForex

Roboforex is a renowned online trading platform that offers an array of financial services, including CFDs, stocks, and cryptocurrency exchanges, not forgetting Forex and other precious investments. Moreover, it is regulated by the Exchange Commission and Cyprus Securities and Exchange Commission.

On the other hand, InstaForex is a reliable broker with over 10 million traders worldwide. The company offers various financial instruments, including CFDs, Forex, indices, stocks, and cryptocurrencies. In addition, InstaForex provides access to MT4 & MT5 trading platforms and a wide range of bonus programs.

When comparing InstaForex vs. RoboForex, it is clear that both brokers offer a great selection of trading instruments and excellent trading conditions. However, RoboForex is slightly better than InstaForex due to its excellent trading conditions, advanced charting tools, and more.

In addition, RoboForex is regulated by two top-tier regulatory bodies, offering traders a safe and secure trading environment. Therefore, when it comes to choosing between RoboForex and InstaForex, RoboForex is the better choice for traders.

#3. InstaForex vs. FXChoice

FXChoice is devoted to offering first-rate services for both active and passive traders. In addition, this company is expanding its range of trading instruments and services for automated trading. The traders can select from traditional or professional ECN accounts with tight market spreads. Furthermore, the broker holds proper licensing by FSC, which has stringent regulations in place.

On the other hand, InstaForex is a reliable broker with over 10 million traders worldwide. The company provides an easy-to-use trading platform that offers more than 300 financial instruments, including Forex and CFDs. Moreover, it provides its customers with an exceptional customer service team and a wide range of bonus programs.

When comparing InstaForex vs. FXChoice, one can easily observe that both brokers offer a great selection of trading instruments and excellent trading conditions. However, FXChoice has a slight edge over InstaForex due to its excellent trading conditions, advanced charting tools, and more. However, this broker also has strict regulations, making it a safe and secure trading environment.

Therefore, when choosing between FXChoice and InstaForex, FXChoice is the better choice for traders who want a secure and reliable trading experience. Moreover, it is highly recommended for experienced traders who want to trade in high volume and take advantage of advanced features.

Choose Asia Forex Mentor for Your Forex Trading Success

If you have a keen interest in establishing a successful career in forex trading and aspire to achieve substantial financial gains, Asia Forex Mentor stands as the optimal choice for the best forex, stock, and crypto trading course. Ezekiel Chew, renowned as the visionary behind trading institutions and banks, is the driving force behind Asia Forex Mentor. On a personal note, Ezekiel consistently achieves seven-figure trades, a distinction that truly sets him apart from other educators in the field. Here are the compelling reasons that underpin our recommendation:

Comprehensive Curriculum: Asia Forex Mentor offers an all-encompassing educational program that covers stock, crypto, and forex trading. This well-structured curriculum equips aspiring traders with the knowledge and skills necessary to excel in these diverse markets.

Proven Track Record: The credibility of Asia Forex Mentor is firmly established through its impressive track record of producing consistently profitable traders across various market sectors. This achievement serves as a testament to the effectiveness of their training methodologies and mentorship.

Expert Mentors: At Asia Forex Mentor, students benefit from the guidance and insights of experienced mentors who have demonstrated remarkable success in stock, crypto, and forex trading. These mentors provide personalized support, enabling students to navigate the intricacies of each market with confidence.

Supportive Community: Joining Asia Forex Mentor brings access to a supportive community of like-minded traders pursuing success in the stock, crypto, and forex markets. This community fosters collaboration, idea-sharing, and peer learning, enhancing the overall learning experience.

Emphasis on Discipline and Psychology: Success in trading necessitates a strong mindset and disciplined approach. Asia Forex Mentor provides crucial psychological training to help traders manage emotions, handle stress, and make rational decisions during trading.

Constant Updates and Resources: The financial markets are dynamic, and Asia Forex Mentor ensures that students remain up-to-date with the latest trends, strategies, and market insights. Continuous access to valuable resources keeps traders ahead of the curve.

Success Stories: Asia Forex Mentor takes pride in a multitude of success stories where students have transformed their trading careers and achieved financial independence through their comprehensive forex, stock, and crypto trading education.

In summary, Asia Forex Mentor emerges as the premier choice for those seeking the best forex, stock, and crypto trading course to carve a rewarding career and achieve financial prosperity. Through its comprehensive curriculum, experienced mentors, practical approach, and supportive community, Asia Forex Mentor provides the necessary tools and guidance to mold aspiring traders into accomplished professionals across diverse financial markets.





#1 Forex, Crypto and Stocks trading course. Ranked most comprehensive by Investopedia and Best by Benzinga. Free to Try!

Conclusion: InstaForex Review

InstaForex is one of the most popular Forex brokers in the world, providing traders with competitive pricing and a range of financial instruments. It is a well-rounded broker that offers competitive spreads and flexible leverage and caters to currency traders.

You can diversify your portfolio with many currency pairs by adding Contracts for Difference (CFDs). Although the number is still relatively low, it is growing exponentially.

The trading platforms are user-friendly and offer extensive research, not to mention copy trading — a feature many brokers don’t have the privilege of boasting about. Moreover, the available educational resources and customer service team make this broker attractive to novice traders.

InstaForex stands out because of its affiliate program, which allows you to earn extra revenue by referring friends and family interested in trading forex. With the additional bonuses, InstaForex is definitely worth considering for your Forex trading needs.

InstaForex Review FAQs

Is InstaForex an established Forex broker?

Yes, InstaForex is a reliable and established Forex broker. It was founded in 2007 and has since become one of the most popular brokers in the world. Besides that, this broker is regulated by the Financial Services Authority (FSA) of Belize and offers its customers access to a wide range of markets, including Forex and CFDs.

Is InstaForex a Regulated forex service provider?

InstaForex is a regulated forex broker that offers its customers access to the financial markets. It is licensed and authorized by Belize’s Financial Services Authority (FSA).

Can a single trader open multiple InstaForex trading accounts?

Yes, multiple InstaForex trading accounts can be opened by a single trader. InstaForex allows its customers to open multiple accounts and manage them from one convenient dashboard. This allows traders to diversify their trading strategies, optimize their investments, and remain up-to-date with the latest market news and trends. Moreover, traders can link one account to another in the client area.

Dumb Little Man Recommends - Top 3 Best Forex Brokers in 2023

Wilbert S

Wilbert is an avid researcher and is deeply passionate about finance and health. When he's not working, he writes research and review articles by doing a thorough analysis on the products based on personal experience, user reviews and feedbacks from forums, quora, reddit, trustpilot amongst others.

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