Benjamin Roussey rates this 3.5/5
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InstaForex Broker Review From: InstaTrade Investment Company Ltd., Russia

Pros
Reliable order execution, no requotes, easy deposit and withdrawal, good customer support.

Cons
InstaForex is not regulated in the United States, UK, Japan, or other top financial markets. It is regulated in Russia by an unknown body called RAFMM.

Verdict
InstaForex appears to be a large online broker outside the U.S., but its figures may lack transparency because of not being regulated by any of leading forex trading markets. Be cautious if you choose to trade with InstaForex.

InstaForex Broker Review - What are real traders saying?

InstaForex has been providing online forex trading services globally since 2007. The company claims to have more than half million customers worldwide, including individual traders and corporate clients. Most of the company’s customers are located in Europe and Asia. Every day over 300 new traders open an account with InstaForex. InstaForex is an ECN-Broker.

Regulation

It appears from the company’s website that InstaForex is not regulated in the United States or other major financial markets of the world. It is a member of an independent association in Russia called “RAFMM”, which may be an association of the forex brokers in the country.

Trading Tools

InstaForex provides you with an opportunity to work with 34 CFD contracts on American shares and 107 currency tools. It also handles transactions in gold, and provides ECN-Broker services. The company claims to offer competitive spreads for each tool to its traders.

Easy Fund Withdrawal

The company provides an “InstaForex MasterCard” to the traders, which allows them to withdraw funds from anywhere in the world, and irrespective of where the card was issued. That makes it a popular service among some customers who can have a convenient access to their funds while traveling.

Flexible Deposits and Leverage

InstaForex provides flexible deposit sizes ranging from $10 onwards. Larger traders can deposit any amount, and the company offers very little restrictions. Leverage is available from 1:1 up to 1:1000, depending on your trade risk management strategy.

Spreads

You can trade with InstaForex without a spread. This is a useful feature especially for new traders who can understand the trading process more easily and make use of technical analysis for effective decision making. The spreads are fixed, and the company does not increase the spread when news is released.

Competitive Swaps

InstaForex offers highly competitive swaps. It is among the earliest companies to have introduced the “equal” swap system with buy and sell deals. The company does not charge a commission for the swap. Therefore, you do not have to overpay even when you hold the deals for several hours. The company also offers swap free Islamic Accounts.

13% Interest on Accounts

InstaForex pays a 13 percent annual rate of interest on all types of accounts. The interest is computed on the sum that has not been used in trading. The interest payments are made monthly into the customer’s account.

PAMM Accounts System

PAMM system is a tool of collective investments in projects providing investment services. As a client of InstaForex, you can accept investments from other traders or invest your funds in another trader’s account, and become a shareholder in that account.

InstaForex Club

The company offers a unique club service to its traders. Membership to this club gives the traders access to a range of privileged options such as receiving bonuses for each deposit in a particular trading account.

What Others are Saying

Traders in Russia and some other parts of Europe and Asia are satisfied with the reliable trading platform and good customer services offered by the company. However, many customers feel there is a trust deficit and the company may not keeping its trade commitments or maintaining transparency of trade transactions every time. The biggest hurdle for some traders is that the company is not regulated in the U.S. or other leading markets, which puts a question mark on its dealings and claims about its forex trading services.

Date Reviewed: October 12, 2011, 1:02 pm
Reviewed by Benjamin Roussey
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