Verdict

/ 5

Instaforex review

By Topbrokers Team

Updated on Feb 28, 2025

15 mins read

69 customer reviews

Overview

InstaForex is a global online broker that has been a player in the forex and CFD trading space since 2007. Their name is well-recognized and they have earned...

See full overview for Instaforex

InstaForex is a global online broker that has been a player in the forex and CFD trading space since 2007. Their name is well-recognized and they have earned professional accolades. But, forex traders like you want to know how they compare to other brokerage sites for the average investor. We’ve rolled up our sleeves and put InstaForex through our rigorous testing and review process. Here, in our comprehensive InstaForex review, we provide the details of our findings.

When assessing InstaForex’s performance, we focused on a set of key criteria. These include safety, regulation, trading instruments, trading platforms, account types, spreads, customer support, and more. Choosing a forex broker most aligned with your trading goals is important. These criteria help to ensure you’ve made a good match.

Alright. With the introduction out of the way, it’s time to dive in!

TL;DR

InstaForex offers a wide range of trading instruments
A strong point for InstaForex is their high-leverage option
Zero commissions on some accounts are attractive, but spreads can be high
Accounts with competitive spreads have higher fees
InstaForex is regulated by the FSC, but no other top-tier authorities
Customers will find good platform options with MT4, MT5, and others
Minimum deposits are as low as $1
InstaForex offers a bonus program and contests
Customer service could be improved
InstaForex alternatives include FxPro, ICMarkets, RoboForex, and XM. Exness, Libertex, and Alpari are also worth considering.

Criteria Breakdown

We’re about to get into the details of our InstaForex review. But, first, let’s take a minute and cover the criteria we used.

Regulation and Safety: We look at how highly regulated InstaForex is, and whether they’re regulated by top-tier global authorities.
Trading Platforms: There are a range of trading platforms that online forex brokers use. This includes popular platforms like MT4 and MT5, and some proprietary platforms.
Account Types: Ideally, an online broker like InstaForex will offer a variety of account types to meet the diverse needs and goals of online trading.
Trading Instruments: What range of trading instruments does InstaForex offer, and are they well suited for those looking to diversify their portfolios?
Spreads and Fees: This is an area of tight competition among online brokers, and often a make-or-break deal for investors.
Leverage: The leverage offered by InstaForex and other brokers isn’t just a convenience. It’s also a telltale sign of if a broker is suited for advanced traders.
Customer Support: Things happen. When they do, how does InstaForex respond?
Educational Resources: Great online brokers offer extensive educational resources. This includes not just for beginners, but for all levels of traders.
Deposit and Withdrawal Options: Clients need to be able to deposit and withdraw money easily from their broker accounts. We’ll see what options are available.
User Reviews: The best place to learn about a broker’s reputation is straight from the mouths of its customers and experts.

Criterion	Rating (out of 5)	Notes
Regulation and Safety	4.5	Regulated by respected authorities, including CySEC.
Trading Platforms	4	Offers popular MT4 and MT5 platforms
Account Types	4	Variety of options for different traders
Trading Instruments	4	Wide range including Forex, CFDs, cryptocurrencies
Spreads and Fees	3	Competitive spreads, but higher fees on some accounts
Leverage	4	High leverage up to 1:1000 available
Customer Support	3	24/7 support, but mixed reviews on responsiveness
Educational Resources	3	Some materials provided, not as comprehensive as competitors
Deposit and Withdrawal Options	4	Multiple options with generally quick processing
User Reviews	3	Mixed feedback from traders

InstaForex: What It’s Best Known For

InstaForex review: uncovering what it's known for. — Image Credit: Facebook
InstaForex is known for diverse trading tools and some of the industry’s highest leverage options.

A Mixed Bag of Trading Tools

Before going deep into our InstaForex review, let’s step back and talk about what this broker is best known for. Having been around for 17 years, InstaForex has earned a reputation for having a good variety of trading instruments. From forex pairs to CFDs and crypto, they have it covered. This and their high leverage are among the top reasons people choose this broker.

InstaForex has an interesting profile of being appealing to both beginners and experienced traders but for very different reasons. Beginners appreciate the micro forex trading accounts and barely-there minimum deposit. More advanced traders are drawn to the high-leverage options. Inexperienced traders should be cautious of utilizing leverage due to the risk. However, InstaForex also offers a copy trading platform to build confidence.

Features

InstaForex brings a range of features to the table. This includes features that are industry standards and those that are more unique to InstaForex. For the basics, they offer the MetaTrader platforms and their own mobile app. Clients will also find several account options to customize their trading experience. Here’s a look at InstaForex’s standout features.

ForexCopy System: This is InstaForex’s copy trader system. Follow successful traders and set your permissions to automatically copy trades made on their accounts.
PAMM System: InstaForex offers the PAMM system, where investors can sit back and watch their money grow. The PAMM system allows investors to pool their finances, and have their trades managed by a professional.
Deposit Bonuses: InstaForex likes to incentivize its clients by offering sizable deposit bonuses such as 40% by clicking here. This no-deposit bonus can be used to trade without risking your own money. The profits earned from your bonus can be withdrawn although the bonus itself can’t.
Multilingual Customer Support: No matter where in the world you’re from or the language you speak, InstaForex customer support has you covered. Their customer support team speaks seventeen languages to eliminate language barrier issues.
Contests: InstaForex is one of the few online brokers we’ve seen offer a range of contests for clients. At any given time, you’ll find a handful of running contests for both real and demo accounts.

Pros

Wide Range of Trading Instruments

InstaForex offers a range of trading instruments that is more than sufficient for those wanting to diversify their portfolios. Overall, they offer over 300 trading instruments, including forex and CFDs. crypto, and more.

High Leverage Options

InstaForex offers high-leverage options, which allows investors to significantly boost their potential returns. High-leverage options are nice, but keep in mind higher leverage comes with higher risk.

Low Minimum Deposit

With a minimum deposit of only $1, you can’t get much lower than InstaForex. A minimum deposit this low makes the platform accessible for beginners and those with limited budgets for trading.

Multiple Account Types

Most online brokers offer multiple account types to suit the needs and preferences of their clients. However, InstaForex offers micro forex accounts alongside its standard account options. These accounts are ideal for new traders who are just learning.

Cons

Not Regulated by Top-Tier Authorities

InstaForex is regulated, but not by the top-tier regulatory authorities that instill confidence and peace of mind in investors such as the FCA (UK), CFTC (US), and ASIC (Australia).

Mixed User Reviews

InstaForex has a wide range of user experiences. Some clients have had positive experiences over the long term, while others are quick to share concerns. User reviews are really a mixed bag with InstaForex.

High Spreads on Some Account Types

There are benefits to choosing InstaForex as an online broker. However, its tendency toward higher spreads with certain accounts isn’t one of them.

Potential Withdrawal Issues Reported by Some Users

There have been enough reports of withdrawal difficulties that it’s an issue that has caught our attention. Difficulties with the process, delays, and inconvenient complications may make the withdrawal process less than seamless.

Criteria Evaluation

Regulation and Safety: 4.5/5

As a global forex broker, there’s an expectation of being regulated by top-tier authorities. This is the number one way to instill confidence in a broker’s safety and commitment to protecting its investors.

The Cypress Securities and Exchange Commission (CySEC), which is considered a top-tier authority, regulates InstaForex. This provides a higher level of security and peace of mind for InstaForex clients.

Trading Platforms: 4/5

The MetaTrader platforms are the primary options offered by InstaForex. This includes both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are wildly popular for reliability and advanced features.

Additionally, InstaForex offers MultiTerminal MT4. This platform enables clients to manage multiple trading accounts at once. Traders with InstaForex can also choose the WebTrader web-based browser platform.

Account Types: 4/5

There are four different InstaForex account types. These include Insta. Standard, Insta.Eurica, Cent.Standard, and Cent.Eurica.

The Cent accounts are for new traders who benefit from minimal trade volume. This includes Micro Forex with a 0.0001 lot volume. The benefit here is that new traders are able to practice with low risk on a real trading platform. InstaForex does offer a demo account for practice, also. However, the Cent accounts are a good small step into the real world of trading.

The differences between Insta accounts can be found in the spreads and fees. While the Insta accounts have no maximum deposit, there is a $1,000 limit for the Cent accounts.

Comparing Insta.Standard to Insta.Eurica, Standard has 3-7 spreads, while there are 0 spreads with Eurica. There are zero fees with the Insta. Standard account, but 0.03% to 0.07% with Insta.Eurica.

Trading Instruments: 4/5

We’re impressed with the trading instruments offered by InstaForex. They currently offer 110 currency pairs, gold and silver trading, CFDs in futures, and 83 CFDs on US shares.

There is enough variety of trading instruments that most traders will find the options sufficient for diversifying their portfolios.

Spreads and Fees: 3/5

In our opinion, InstaForex isn’t the most competitive in terms of spreads and fees. They offer great spreads on some accounts, but higher, less competitive spreads on others. This can significantly affect profitability on certain trades.

InstaForex uses fixed spreads on everything except forex. In some instances, spreads on forex majors can jump as high as 10 pips.

Fees on accounts range from zero up to 0.07%. There are also deposit and withdrawal fees that vary by payment system type. They do charge a dormant account fee of $5 for accounts that have been inactive for six consecutive months. In most cases, the dormant fee is waived for the first three months of inactivity.

Leverage: 4/5

We appreciate the leverage options InstaForex offers. Leverage options range from 1:1 to 1:1000. This opens the door for traders who want to maximize profitability but with limited capital. New traders especially be cautious of the additional risks that come with high-leverage options and should utilize leverage cautiously.

Customer Support: 3/5

This is not a shining point for InstaForex. We appreciate their multilingual customer support team but the follow-through on providing support is lackluster. There are more than a few customer mentions of inefficient customer service.

However, on the plus side, there are many different ways of contacting their customer support team. These include chat, phone and email standards. But they can also be reached via WhatsApp, Skype, Rakuten, Telegram, VKontakte, X, and Messenger.

A thorough look at the educational resources per our InstaForex review. — Image Credit: InstaForex
Instaforex can help new traders with its training course for beginners

Educational Resources: 3/5

All the best online brokers offer educational resources for their customers. InstaForex focuses its learning materials primarily on beginners. Their resources include a free beginner’s trading course.

However, the learning resources offered by InstaForex are more basic and not as extensive as some of its competitors.

Deposit and Withdrawal Options: 4/5

InstaForex offers its customers good options for deposits and withdrawals. These include bank cards, bank wire transfers, crypto options, and a number of digital wallets.

User Reviews: 3/5

There really is a vast range of user experiences with InstaForex. This makes it difficult for potential customers to get a good feel of what to expect from the broker. Our average rating of three out of five is reflective of the user reviews we’ve researched.

Community Reviews and Expert Recommendations

Community reviews and expert recommendations offer a comprehensive snapshot of InstaForex’s strengths, weaknesses, and overall customer experience. We recognize that our experience with InstaForex is just one piece of the picture. To provide the most comprehensive overview of InstaForex, we dove into as many InstaForex reviews as we could find.

For community reviews, let’s discuss what we’ve seen on TrustPilot. These reviews are generally unbiased and truthful. Although, there are always a few that should be taken with a grain of salt. InstaForex has an unimpressive 2.4 out of 5 on TrustPilot.

Still, 62% of the reviews are either 4 or 5 stars, which is good. However, it’s the 32% of 1-star reviews that drag them down. A common theme we’ve noticed is that InstaForex is less than transparent with how bonuses are handled. A number of reviews mentioned having their bonuses wiped from their accounts once they deposited money and made a profit.

Additionally, complaints of difficulties with withdrawals and holds on accounts are also fairly common.

Positive reviews of InstaForex focus on the ease of use and how well-suited this broker is for beginners. There are a number of reviews who used InstaForex as their first broker but stayed with them for years.

Experts are generally pleased with InstaForex. They’ve cited the robust MetaTrader platforms, user-friendliness, high-leverage options, and diverse range of trading instruments.

Price

InstaForex offers a varied pricing structure that depends on the account type and trading activities. The Insta.Standard account offers zero fees but comes with higher spreads. Fees are .03% to 0.07% with the Insta.Eurica account.

Those who are looking to get started in trading with the smallest investment possible will appreciate InstaForex. With their $1 minimum, new traders can enter the market at their own pace, without concern about initial costs.

Where to Find InstaForex

If you’re interested in learning more about InstaForex, we recommend visiting the InstaForex site directly. From here, you can dig into every nook and cranny, and learn all there is to know about InstaForex. When you’re ready, you can sign up for a live or demo account.

Alternatives to InstaForex

eToro

EToro is one of the best online brokers and is a leader in social trading. With a super user-friendly interface, combined with copy trading capabilities, eToro is great for every level of trader.

Besides the robust social trading platform, eToro offers diverse trading instruments and strong regulations. We’re fast to recommend eToro to anyone looking for a well-rounded social trading broker.

RoboForex

Like InstaForex, RoboForex also offers low minimum deposits. While not the ultra-low $1 minimum with InstaForex, the minimum deposit here is as low as $10. RoboForex offers eight asset classes. These include stocks, indices, futures, ETFs, soft commodities, energies, metals, and currencies. To sweeten the deal, RoboForex offers zero commissions and instant withdrawals.

Forex.com

Forex.com is one of the most well-established global forex brokers with an award-winning status. Compared to InstaForex, Forex.com offers stronger regulation and an impressive educational academy. We appreciate the extensiveness of their market analysis tools and the flexibility of trading platforms, including MetaTrader and a proprietary platform.

XM

XM stands out as a strong alternative to InstaForex for several key reasons. First, they offer ten trading platforms for ultimate flexibility, and we can’t forget to mention the ultra-low spreads. XM offers more than 1,000 trading instruments and has earned over thirty industry awards. Their range of assets is sufficient for diversifying a portfolio, and they are highly regulated. This includes being regulated by the FCA, ASIC, and CySEC.

Final Thoughts

We’ve covered the ins and outs of InstaForex and rated them on a set of key criteria points. In the end, InstaForex falls in the average range. They offer a number of great features and advantages, but there are also definitely areas for improvement.

Let’s recap:

InstaForex offers a good range of trading instruments
Customers can choose from a number of high-performance platforms
Copy Trading is an option
High-leverage options, which can be a blessing or a curse
Reputable authorities, including CySEC, regulate InstaForex.
Low minimum deposit amounts
No commission on some accounts, but watch out for high spreads
Customer support reviews are lackluster
We’d like to see more comprehensive educational resources offered

At the end of the day, we encourage you to really dig in and do your due diligence in researching online brokers. InstaForex is a good option for experienced traders looking to diversify their portfolios, and beginners. However, the high leverage can be dangerous for the inexperienced and might be a concern. Take the time to review InstaForex for yourself before making any decisions.

Finally, when you need a resource for everything about forex brokers, TopBrokers has you covered. We have all the tools and information you need. This includes our guide to basic forex terms for those new to trading. We also encourage you to check out our forex broker comparison tool before making a decision.

Good luck and happy trading!

Countries

+223

Devices

Max insured

Our Verdict

4.4

/ 5

See our process of evaluating brokers

Commissions & Fees

4.6

/ 5

Deposit & Withdrawal

4.4

/ 5

Customer Support

4.2

/ 5

Account Opening

4.6

/ 5

Regulation & Safety

/ 5

Our 5-step process of verification and evaluation – How do we obtain information?

General inspection – 30%

Trading experience – 30%

Technical audit – 20%

Collective experience from collaborations with the broker – 10%

Interviews with real traders – 10%

See the entire process here.

Pros

Wide Range of Trading Instruments
High Leverage Options
Low Minimum Deposit
Multiple Account Types

Cons

Not Regulated by Top-Tier Authorities
Mixed User Reviews
High Spreads on Some Account Types
Potential Withdrawal Issues Reported by Some Users

General details

Type of accounts

Unlimited Demo Accounts

Standard Accounts

Cent accounts

Swap free accounts

Segregated accounts

Trading platforms

MetaTrader 4

MetaTrader 5

Execution Model

NDD

ECN

Deposit currency

USD

EUR

RUB

Regulatory compliance

FSC (BVI)

Deposit payment systems

Withdrawal payment systems

Support Languges

English

Bulgarian

Georgian

Indonesian

Kazakh

Malay

German

Russian

Uzbek

Ukrainian

Auto trading

ForexCopy System MT4 EA MT5 EA PAMM

Contact details

[email protected]

+9718000321266

Customer reviews

Read real reviews from traders all over the world:

Piotr Kucharski

25 May 2023

Advantages: MT4 platform works fine no disconnects

Disadvantages: Support...Deposite problem...

I deposited money with the same card every week to build investment capital. I haven't been able to deposit funds for a week. At the beginning, the page was hanging, the support told me to try again for every failed attempt. Now they are asking if my card is connected to 3DS version2? I paid with this card before, I didn't change anything, suddenly something changed? And today the page does not load at all and the message Internal error of the server appears... Account number is 3748779

Transhuman Mercury

31 March 2023

Advantages: None, other than their ability to hold your funds

Disadvantages: Poor customer service and no funds received

I have had to send 4 emails, 2 tech support requests, and enter 3 chats and they still can't tell me where my money has gone. Also, I made 12,000 profit with their no-deposit bonus and they wouldn't allow me to withdraw

See all 69 customers reviews

Accounts

Type of Trading Accounts on InstaForex

InstaForex offers various trading accounts suitable for different levels of traders, from beginners to experienced traders. The account types are designed to cater to different trading styles/preferences and provide access to different trading instruments.

InstaForex offers the following:

Standard Account: This account type requires a minimum deposit of $1 and offers fixed spreads from 3 pips. It is suitable for beginners and traders who prefer a low-risk trading environment.
Eurica Account: This account type is similar to the Standard account but has no spreads. Instead, the broker charges a commission on trades. The minimum deposit for this account is $1, making it accessible to beginners and traders with small capital.
Cent Account: The Cent account is designed for traders who want to trade with smaller amounts. The minimum deposit for this account is $1, and the lot size is 0.0001 of a standard lot. The spreads start from 3 pips.
Standard-ECN Account: This account type offers variable spreads from 0.8 pips and requires a minimum deposit of $1,000. It suits traders who prefer a more advanced trading environment with access to ECN liquidity.
Pro-Standard Account: This account type offers variable spreads from 1.3 pips and requires a minimum deposit of $10,000. It suits experienced traders who require access to more advanced trading tools and features.
Pro-Eurica Account: This account type is similar to the Pro-Standard account but has no spreads. Instead, the broker charges a commission on trades. The minimum deposit for this account is $10,000.
ECN Account: This account type offers direct interbank liquidity access and variable spreads from 0.0 pips. The minimum deposit Instaforex for this account is $1,000, making it accessible to more experienced traders.

Tradable instruments

Tradable instruments on InstaForex trading platforms include:

Cryptocurrencies

Currencies

100

Commodities

Indices

Stocks

500

Futures

Options

Frequently asked questions

Find the right answer to your question below.

Is InstaForex a reliable broker?

InstaForex has been around a long time and has a reputation for reliability. However, they’re not as highly regulated as their main competitors, which brings to mind questions of continual reliability and security. The FSC regulates InstaForex. However, its reputation for security would be stronger if regulated by top-tier authorities, such as FCA and ASIC. For more information on InstaForex regulations, click here.

What are InstaForex's minimum deposit requirements?

InstaForex is a rare breed in the forex trading world. They offer the lowest possible minimum deposit amount of only $1. While the minimum is low, some InstaForex accounts have a maximum deposit amount. This includes the Cent accounts that cap out at a $1000 max deposit. There currently isn’t a maximum deposit on other account types.

Does InstaForex offer a demo account?

Yes, InstaForex offers a demo account. Demo accounts are free and provide the opportunity to test drive the platforms and trade without risk. Demo accounts are a great tool for those who are new to trading to get some practice in before going live. However, even experienced traders can benefit from a demo account and exploring all of InstaForex’s features before depositing funds.

Having said that, experienced and serious traders get the most out of InstaForex with a no-deposit bonus account. That’s because a no-deposit bonus account with InstaForex allows you to start trading with real money – without risking your own capital. To start, sign up here. Once your account is verified, you’ll receive a bonus to trade on the InstaForex platform and you get to withdraw the profits with limited restrictions.

What leverage does InstaForex offer?

InstaForex offers great leverage options that go all the way up to 1:1000. This type of leverage provides the opportunity to really maximize profit potential, especially for experienced traders. However, keep in mind that leverage doesn’t always work out in the trader’s favor. Each time you take advantage of high leverage, the risk of loss is as great as the chance of gain. It’s important to keep risk management in mind when utilizing leverage.

How does InstaForex compare to other forex brokers?

Like every online broker, InstaForex has its strengths and weaknesses. InstaForex is great for its diverse range of trading instruments, high-leverage options, and low minimum deposits. They cater to every level of trader, however, offer features that make them especially well-suited for beginners. Where InstaForex lags behind is in its customer support, regulatory standing (excluding the EU where regulatory standing is considered stronger), and high spreads.

Top 5 similar brokers See all similar brokers