Instaforex review and test – is it a scam or not?

4.8 out of 5 stars (4.8 / 5)
Starting 0.0 Pips
200 €

InstaForex is one of the best-known European Forex Brokers. If you are searching for an honest review then are you completely right on this website – In our personal review, we will show you the conditions and offers for traders of InstaForex. Is the company so good as its advertisement and should you invest your hard-earned dollars there? – Find out in our review and test of the Forex Broker.

Official website of InstaForex

What is Instaforex? – The broker presented

InstaForex is a European Forex Broker that accepts traders from all over the world. The company was founded in 2007 in Russia, since 2015 it is an EU-regulated entity, and offers different leveraged financial products for retail traders. It is very easy to sign up for an account with them and start trading. With them, you can trade on any device and invest in falling and rising markets.

The company is presented as a big brand whose representative office is in Bulgaria and branches in Poland, Slovakia, and the Czech Republic. Also, there are sponsorships of well-known sports artists. InstaForex is international and in Europe fully regulated by finance authorities. That makes a first good impression for us that InstaForex is a good online broker.

Facts about InstaForex Brand:

  • European company which grows very fast
  • Accepts EU Traders
  • Founded in 2007, the EU regulated since 2015
  • More than 3 representative offices
  • Sponsorships and more than 30 awards

Review of the regulation and safety for customer funds

Especially for online trading safety is very important for each client. Some bad companies try to scam traders with special methods. To avoid this fraud the Forex Broker should be regulated and give the trader the required safety of customer funds.

InstaForex is a regulated company
InstaForex is a regulated company

As for the regulation, except for the license issued by the CySEC, Instant Trading EU Ltd. is also supervised by the Czech National Bank (CNB), the Slovak National Bank (SNB), and the Polish Financial Supervision Authority (KNF). Consequently, InstaForex has branches in the Czech Republic, Slovakia, and Poland, where it provides support in local languages. InstaForex is a member of the Investor Compensation Fund (I.C.F) which is additional security for the client’s funds. Besides, the broker ensures Negative balance protection. So, the reliability and trustworthiness of this broker raise no doubts.

It’s worth noting that InstaForex has 3 account types for MT4 and 3 account types for MT5. A wide choice of account types is a clear advantage as any trader can find the conditions that suit them best. A detailed description of each account type is presented on the broker’s website, and here we provide a short overview:

Facts about the safety for customers:

  • Full regulated company
  • Regulated in Europe (CySEC) 
  • Regulated payment methods

Perfect conditions for InstaForex customers or not?

Whether you want to trade forex or commodities, InstaForex is the right broker for you. The company offers to trade leveraged financial products with small trading fees 24/7 per week. The well-known trading platform is available for InstaForex traders. You can use this software with one login data for any device.

Additionally, traders can choose between different account types which we will explain to you in the next sections. Traders with small and huge deposits can start with InstaForex. The spreads are from 0.0 pips like many other Forex Brokers. The leverage can be up to 1:30 depending on the asset you trade.

From our experience, the execution of trades is very fast and reliable. You can choose the best server for you. In conclusion, the conditions for customers are at their best for anyone who wants to trade leveraged financial products.

Facts about the conditions: 

  • Broker type: CFD and forex broker
  • Deposit currencies: CZK, EUR, USD, PLN, GBP
  • Minimum account size: 200 EUR 
  • Spread: from 0.1 pips
  • Additional charges: no (for FX)
  • Leverage size: up to 1:30 (up to 1:500 for professional clients)
  • Trading instruments: Stocks CFDs, ETFs, IPOs, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Stocks
  • Supported platforms: MT4, MT5
  • Possible hedging: Yes
  • Operating since: 2007 as an international broker and in 2015 as an EU-regulated broker
  • Headquarters: Cyprus
  • Branches: Poland, Slovakia, and the Czech Republic
  • Regulators: CySEC,
    Supervisory Authorities: KNF, NBS, ČNB
  • Representative office: Bulgaria
  • Support: 24/5

Review of the InstaForex trading platform

One of the most important points of a good Forex Broker is a reliable trading platform. InstaForex offers the worldwide well-known MetaTrader 4. This is universal software that can be used on any device. For example trade on your home computer and your smartphone at the same time.

MetaTrader 4 is very customizable. You can use different chart types, indicators, or programs to develop your trading style. Also, it is possible to install extern indicators or add-ons with this software. In MetaTrader 4, you can clearly watch the markets and do professional trading decisions. One-click trading is available for fast execution. Furthermore, you can watch different markets at the same time which makes the platform very useful.

The trading platform of InstaForex
The trading platform of InstaForex

A wide choice of trading tools is yet another clear benefit of this broker. First off, clients of InstaForex can use the tried-and-true MetaTrader 4 platform that provides access to the various markets. This platform became a hot favorite for its reliability and user-friendly interface. MT4 features 9 time frames, 5 order types, in-built technical indicators, and other useful tools. 

The MetaTrader 5 platform opens up wider possibilities for the clients, as it has a more extensive functional kit compared to MT4 including 21 time frames, 38 built-in indicators, and 7 types of hourly charts. Besides, it doesn’t have technical restrictions on the number of available trading instruments thus the only limit is a broker’s capacity.

Clients of InstaForex can access financial markets through their mobile devices with the help of MT4 and MT5 mobile apps. Trading is also possible through a web browser via the WebTrader platform.

Facts of the MetaTrader 4:

  • Available for any device
  • You only need one account login
  • Full control of your positions
  • Free indicators and technical drawing tools für Technical Analysis
  • Multi-charting
  • Customizable and user-friendly
  • Automatic trading is possible

How to trade with InstaForex?

From our experience, it is very easy to open a position with InstaForex. In the following section, we will show you how to exactly do it step by step. You can use direct market execution or pending order on the platform. Also, it is possible to manage the risk of trade with stop-loss and take-profit. If you got additional questions you can watch our videos or get help in the InstaForex education center.

  1. Analyze and choose the market you want on the trading platform. After you found a good trading idea you can open your position.
  2. The volume stands for the position size. For example: 1 Lot = 100.000 units in forex. You can use the positions calculator to get the right position size for your trade.
  3. Manage the risk with stop-loss and take-profit. There are automatic price limits that will close your position to loss or profit.
  4. You can trade directly through market execution or pending orders. The pending order means that you open you’re automatically your trade position when the markets trigger your entry price.
  5. Buy or sell. It is possible to invest in rising or falling markets.

How to open your account?

The account opening with InstaForex is not that difficult for any trader. Just sign in your personal data in the form below to create your account. After that, you get access to the trading portal where you can set up your trading account and fulfill the registration.

The Forex Broker needs some information about the trader because it is a regulated company. They have to verify your personal data. All the steps to do are explained by InstaForex. After the verification of your account, you can use all the functions of the broker.

Open your trading account with InstaForex
Account opening form

Unlimited demo account for beginners

Another important point for traders is to test the broker in a free demo account. This is an account with virtual money that simulates real money trading. InstaForex offers a free and unlimited demo account. It is a good option for beginners and advanced traders to test the platform or improve their trading skills.

We can recommend any trader to use this practice account to get an impression by yourself of the trading platform and conditions.


The demo account is the best way to practice and improve your trading skills.

Which account types are offered?

InstaForex offers normal trading accounts and cent trading accounts in two different versions. The cent account is made for small deposits starting from 1$. The position size is made smaller by 10 times so you can risk less money with the lowest invested money in your trading position.

Traders can always choose between two versions before the account opens. (The account types are depending on the regulation EU, see below) The difference between these two account types is that the broker earns money through a spread or commission. From our experience, it is better to choose the commission account to pay fewer fees.

These accounts are available:

MetaTrader 5 (MT5) account types:

  • ECN (minimum deposit 1,000€)
  • ECN PRO (minimum deposit 10,000€)
  • ECN VIP (minimum deposit 50,000€)
InstaForex MetaTrader 5 (MT5) accounts

MetaTrader 4 (MT4) account types:

  • ECN (minimum deposit 200€)
  • ECN PRO (minimum deposit 2,000€)
  • ECN VIP (minimum deposit 10,000€)
InstaForex MetaTrader 4 (MT5) accounts

ECN Accounts:

ECN accounts are available for both MT4 and MT5. These accounts are of three levels: ECN, ECN PRO, and ECN VIP. Basically, they differ from each other by the deposit requirements and commission values. So, professionals who are used to trading big volumes are likely to find PRO and VIP accounts more convenient. All ECN accounts offer the Market execution and raw floating spreads.

It is worth mentioning that MT4 accounts have approximately 220 trading instruments and lower deposit requirements while MT5 accounts have more than 2,500 instruments.

How to deposit on InstaForex:

After you open your real account and made the first profits in the demo account, you can do your first deposit with InstaForex. The broker offers more than 20 different payment methods for any country. Sometimes the payment method depends on your country.

You can choose the classic way through a normal bank transfer or use electronic payment methods. The duration of a bank transfer is 1 – 2 days while electronic payments credit the money directly to your account. Another big advantage is that InstaForex does not charge any fees for the deposit.


There are no fees for deposits.

Deposits and withdrawals are working fast
Deposits and withdrawals are working fast

Review of the withdrawal with InstaForex

Withdrawals should process immediately and correctly by the broker. As InstaForex is a regulated broker there are no problems with the withdrawals. The payments are processed in a maximum of 1 up to 3 working days. From my experience, there are no frauds and the company pays out the profit for traders.

In addition, you can use the same payment methods for the withdrawal as for the deposit. Sometimes there are small fees of up to 2% which are depending on your payment method. In conclusion, InstaForex only uses regulated payment methods and proceeds the money transactions correctly.

These payment methods are available:

  • Bank wire
  • Credit cards (Visa/master)
  • Skrill
  • Neteller
  • Sofort
  • Bitcoin
  • B2B in Pay

Review of the service and support of InstaForex

First of all, offers 24/5 support and service via phone, email, and chat in more than 20 languages. This is a very huge advantage because you can call your broker at any time. From our experience, support is working very fast and professionally. The exactly know what the customer wants and they are friendly to answer your questions.

Education and free training
Education and free training

Another big advantage of the service is the education that is provided. InstaForex is one of the best places for beginners to start trading. There are different video tutorials that explain how to trade and professional strategies.

Also, webinars and 1-to-1 coaching are offered by the Forex Brokers. For example, you can sign up for a free trading course with more than 16 different lectures to improve your trading skills. In conclusion, support and service are very reliable. InstaForex offers professional support for its clients.

Education and market analysis

Well-timed financial news and market analysis are crucial when it comes to making trading decisions. Admittedly, InstaForex pays great attention to this aspect. It has a team of over 30 currency analysts who provide comprehensive market analysis daily. Economic news along with the economic calendar is published regularly.

The broker’s website has a TV section that deals with economic news, market reviews, economic calendars, and video analytics. 

What else is there for beginners? Those who are making their first steps in trading can watch video tutorials and download a training course. Also, they can challenge their trading skills on demo accounts that are provided for free and with no restrictions. 

Another key feature that can be useful to both beginners and experienced traders is free online webinars. Every client is welcome to register for a webinar and learn the basics of the technical analysis presented by analytical experts.

Facts of the support: 

  • 24/5 support for
  • Phone, Email, and Chat
  • Daily analysis
  • Daily webinars
  • Free training and coaching
  • Professional and fast support

Content by InstaForex: 

How does Instaforex treat its clients?

InstaForex has been in the business for thirteen years now, and for that period it has earned the trust of millions of traders around the globe. The Best Broker in Eastern Europe, the Best Broker in Asia, the Best Forex Cryptocurrency Trading Platform, the Best ECN Broker, and many other awards have been presented by prestigious business magazines and expo brands. Thus, there is every reason to think of InstaForex as the broker of choice.

Who stands behind this huge success? It is the people who cater to satisfy the needs of every client of the broker. A precious asset of InstaForex is its dedicated customer support team. They are an integral part of the mechanism. Each of them is a qualified specialist who knows the answers to all clients’ questions. Let’s get to know these people better. We have interviewed Alexandros Demetriou, an account manager who is working with English, Romanian and Greek-speaking clients.

Client-oriented approach

It is necessary and fundamental that there are communication channels between a broker and its clients. InstaForex has taken note of it to provide flawless communication channels.

The website is available in English, Italian, Bulgarian, Spanish, German, French, Czech, Portuguese, Hungarian, Greek, Slovenian, Dutch, Polish, Romanian, and Russian.

Customer support can be accessed through Skype, Viber, Whatsapp, Telegram, and Facebook messengers. Besides, clients can ask their questions by email, phone, or live chat. The strong presence in social media makes it easy to contact InstaForex managers whenever you need them. 

To make the communication even easier, InstaForex has created a dedicated support portal where clients can get answers to their questions and read useful information about financial markets. 

As already mentioned, InstaForex has branches in the Czech Republic, Slovakia, and Poland where clients get support in local languages and make deposits in local currencies, thus reducing the conversion costs. 

An outstanding choice established for traders to interact with this broker displays that customer service is extremely important.

Alexandros Demetriou interview – Support employee

InstaForex support employee Alexandros Demetriou
InstaForex support employee Alexandros Demetriou
  • Tell us a bit about yourself. What do you like doing in your spare time?

I really like renovating anything at my house, building staff & crafts, going fishing, sports, reading interesting books and articles about economics, society, and business.

  • What do you do exactly? (describe your job and your daily duties), who do you call?

My job basically revolves around being the primary person of contact for my clients. Every day I call my clients and I give each of them individual attention and my total focus. Anything a client might need; from training on technical indicators and the MT4 platform, providing information about economic news, solve problems, answer to questions, assisting by liaising with other departments on fast documents processing, help on technical aspects of trading, or even just a friendly chat, I want my clients to think of me first. 

  • What qualities should an account manager possess?

People skills, organization, flexibility, speed, focus, multitasking, patience, and most of all, passion for the client’s needs. 

  • How long have you been working at InstaForex? What have you accomplished for that time? What knowledge and experience did you acquire?

I have been working with InstaForex for about a year now. Throughout this time I would say that my biggest and most important accomplishment is that working directly with clients on a daily basis, helped me improve all of the qualities that I mentioned above which are useful in any path of anyone’s life.

Last but not least, as our company keeps on growing, I am happy that I have to train our new employees who join us. 

  • Do you love your job and why?

I love it! It’s rewarding and helps to improve my professional and social skills.

  • What is the most frequently asked question or issue your clients face?

Alex, how do I trade?’

When I hear that question it makes me happy because that is the right question to ask especially in the case of a new trader. Learning how to trade, acquiring the skills on identifying the trends, being able to read the technical indicators and fundamental analysis is the basics of every successful trader. I am always happy to help both new traders and more experienced ones in improving their skills!

 It is though very important for traders to understand the risks that are involved with trading and that there is no Holy Grail when it comes to the markets. There is always the risk of losing part or whole of the invested amount so traders should not invest more than they can afford to lose.

  • How do you support current clients? Only by their request or do you take care of them once in a while contacting them by your own initiative?

Unless a client specifically requested not to be contacted, I will make sure that I contact all my clients at least once a month to talk about their performance and possible improvements or provide information about an important update on the industry, such as economic news and events. The company constantly comes up with new ideas on how to help the client improve their skills, new product offerings, technical improvements, training, etc.

  • How do you support new clients? How do you assist them to start trading with us?

The first thing I do is to welcome my clients and find out a little bit more about them. Their needs, their objectives, and what is important for them. Once I know this, I will see if there is a match with what we can offer and if yes, I focus on assisting them to get on board. Once they are onboarded, I keep regular contact with them as pre-arranged so they are not left alone without assistance. 

  • How can a client contact you or ask for help?

My clients can contact me directly via their client cabinet by requesting a call back from me. They can also write to me via email and of course, call me on my direct phone line. 

  • InstaForex is quite a popular broker and it has so many clients. Why is that in your opinion? 

InstaForex has been in the industry since 2007. That is a long time. One of the first brokers in the industry and it has stayed in business and built credibility while others have come and gone. 

Instant Trading EU Ltd is a Cyprus Investment Firm regulated by CYSEC (license no 266/15) and operates website. The company fully complies with European regulations thus further ensuring the safety of clients’ money, quality of service, and transparency according to CySec and ESMA regulations. 

  • Any updates we should expect from InstaForex anytime soon?

There are constant updates, developments, improvements, and additions. Trading is a fast-evolving sector and trading opportunities might arise from different directions so, in order to always provide a good trading selection of instruments, we are now working on a new list of assets that soon will be added to our trading platforms. Much more interesting additions will follow which I can not disclose at the moment!

Is InstaForex a reliable Broker? – Conclusion of our Review

In this review, we showed you the true facts about the Forex Broker InstaForex. It is a well-known brand in Asia. In conclusion, it is a good company to trade with. It is possible to trade a huge range of markets with low and competitive conditions in the trading platform MetaTrader 4.

InstaForex is fully regulated and excludes the possibility of a scam or fraud for customers. The deposit and withdrawal methods are working fast and without any problems. Especially for beginners, this broker is very good because you can start with a very low deposit and get a good education. Compared to other Forex Brokers the service is very professional.

Furthermore, you can get a free bonus for your account balance. These facts make the company unique and we can recommend it to trade there.

Advantages of InstaForex:

  • EU regulation
  • Over 2,500 trading instruments
  • No deposit fees
  • A wide choice of account types
  • 5 deposit currencies (EUR, USD, PLN, CZK, GBP)
  • MT4 and MT5 platforms
  • Education and market analysis
  • Membership of the Investor Compensation Fund (I.C.F).

Instaforex Review

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Instaforex is a great European-based broker that has no deposit fees. Moreover, InstaForex is highly regulated and has competitive spreads, which is excellent for both beginners and advanced traders.


InstaForex offers the best conditions for beginners and advanced traders who want to trade with a reliable broker 4.8 out of 5 stars (4.8 / 5)

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Last Updated on January 27, 2023 by Arkady Müller