InstaForex – Is it a safe Forex platform to begin with?

No matter how much money people have in their possession, 99% of them want to double or triple the amount at the shortest possible time. Though it sounds hypothetical, with right decision-making and investment on the right business, it’s very much achievable. Online forex trading is one of those businesses which makes an intelligent person rich within a few months or a year. Forex or Foreign Exchange, is basically a form of currency trading at the global market which is decentralized. In fact, the forex market is one of those liquid markets which is by far the largest amongst all. On a regular day, this market completes a trading volume around U.S. $5.0 Trillion. Hundreds of organizations were founded centering this forex trading, and each of them wants to have most number of clients. But now, clients are seem to be choosy and take a lot of facilities in consideration before beginning with one. InstaForex, is of the few traders in online Forex market who has got a massive number clients. In the next sections, a number of reasons will be explained with all the necessary information.

A concise overview of ‘InstraForex’

instaforex spread list

Online Forex trading became more popular with the introduction of binary options back in the year 2008. However, InstaForex is one of those organizations which had started its journey prior to this. It’s a Russian based organization (HQ-Kaliningrad), founded in the year 2007 with a simple plan of making the forex trading accessible to people. Thus, the interested group of people can invest and get ROI (Return on Investment) within a shorter frame of time. At the beginning, “MetaQuates Software” of Russia gave them a stronger online platform i.e. including all the necessary trading facilities. And with constant improvements on the technical issues and services, InstaForex was able to separate themselves from their competitors. Initially, InstaForex targeted the clients from the Europe. But slowly, they covered the major areas of the globe including Asian countries. At present, InstaForex has around 140,000 clients from different corners. Nevertheless, 50% of the clients are from four countries i.e. Russia, Ukraine, Nigeria, and Kazakhstan.

Is InstaForex a trustworthy platform?

At a highly competitive market, where the service providers are available in abundance, is it possible to have hundreds of thousands of registered clients? Is it possible for a fraud agency to get millions of traffics every month? One simple answer to both the questions is a ‘no’.

Before moving on to the certifications of InstaForex, let’s have a look at how this organization has received a remarkable attention from a massive number of people. This company started to organize different events and expositions on online forex trading since 2009. For example, since 2010, InstaForex has been a platinum sponsor of the famous “ShowFx World Expo”. And it’s predictable that an event like “ShowFx World Expo” would be attended by tens of thousands of potential or regular investors.

Once a “Forex trader” receives the desired attention from the investors, it’s important to ensure the investor protection through various regulations. InstaForex was no exception to that. They had the certification from FSC or Financial Service Commission under SIBA (Securities and Invested Business Act) and BVI (British Virginia Islands). Their registered license code is- SIBA/L/14/1082. In addition, InstaForex also had CYSEC (Cyprus Securities and Exchange Commission) registration to continue the trading business in Cyprus.

Why would investors prefer InstaForex over other online brokers?

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Whether a person is investing on a business or an electronic gadgets, everyone has their unique sets of preferences. Someone may want quicker service, while the others opined for a secured service. Someone could be willing to take higher risks, while the others might want to be in the safer side. InstaForex, while designing its pattern of services, considered the mindset of different types of people. As a result, they could offer the trading services as per the clients’ requirement. However, there is a common ground for all the investors regarding the transparency and security. In addition, this organization takes active participation in the compensation fund with protection on ‘negative balance’. As per the regulation from EU, investors will receive a maximum amount of Euro 20,000 in events like bankruptcy.

Registration and Verification at ‘InstaForex’

Like all the other trading websites, prior to online trading, a user must have to be a registered member at InstaForex.

  1. Registration & Login: After opening the ‘Home-Page’, there will be box named ‘Enter client cabinet’. With a click on that box, a user will see a few boxes with different titles. From there, he/she will have to click on the ‘Register account’ box. A new page will arrive in a couple of seconds. In that page, the user will have to provide four information i.e. name, email ID, phone number, and country. After filling the boxes with all the necessary information, he/she will have to click on the box ‘Open an Account’. After that, a mail will be sent to applicant’s registered email ID. In the received email, the user will receive all the needful information like account number, trader password, phone password, investor password, pin-code, and server address. Nevertheless, it’s always suggested to copy-paste all the necessary information to a separate doc/text file.
  2. Verification: Verification is the final and the most important step to complete the registration process. For InstaForex verification, a user has to login with a trader account using the account number and trader password which was sent to him/her through email. Once the login process is done, the user will be able to access his profile created on InstaForex platform. In the ‘Your Summary’ block, the user will notice a box which shows ‘Account statues-not verified’. With a click on that box, another page will open. At this Forex platform, verification is completed in two steps. In the first level of verification, the user has to upload a photo of him holding his passport/national ID where the names, codes, and images are clearly visible. In the second level, the user has to upload his/her recently paid electricity or water bill in which either home or office address is mentioned.
  3. Deleting the InstaForex account: InstaForex doesn’t charge a client for being an inactive member for many years. So the user might not be needing to delete the account if he/she wants to go for a break from online trading. However, if he/she is completely done with this platform of online forex trading, there is an option to delete the account.

InstaForex Demo Account

instaforex mt4

InstaForex does offer its users to have an access to ‘demo account’. However, trading through demo account can only be done through InstraForex MT4 platform. From the ‘Download’ box of ‘easyforexlearning.com’, a user will have to download the ‘exe.file’ and then install that file to the computer.

In the installation process, there will a few steps-

  1. In the middle of installation, the user will be asked to choose whether he/she already has an account or want to create a new one.
  2. In case of a new one, the user will then be asked to put the information like Name, email ID, phone number, any free amount, and leverage.
  3. After providing all the necessary information, the user will be able to finish the installation process.
  4. To access the InstaForex demo software, a user has to login with the information sent to his/her email during the process of demo account setup.

How to deposit money to an InstaForex account and How to withdraw it?

InstaForex is a unique platform for online Forex trading where a user can deposit U.S. $1.00. This is one of many reasons why beginners choose this platform over the others. Another important reason of its success in the marketplace is because of its wide range of deposition and withdrawal sources. The time to deposit or withdraw any amount of money through any of the sources, the time frame lies between 24 hours to 7 business days.

The sources are- Wire-transfer (any bank), Bank card (VISA/MasterCard), Mega-Transfer, PayCo, Skrill, Benecard, NETELLER, BitCoin, LiteCoin, Transfer between accounts, PAYSEC, China Union Pay, WeChat, Alipay, Nganluong bank, Nganluong wallet, Paxum, BPay.md, Carta Bleue (France), CartaSi (Italy), Dankort (Denmark), ePay.bg (Bulgaria), Electronic Payment Standard (Austria), GiroPay (Germany), iDeal (Netherlands), Maestro (UK, Spain, Ireland, Austria), Nordea SOLO (Sweden), POLi (Australia), PostePay (Italy), Przelewy24 (Poland).
instaforex

InstaForex bonuses

If an investor loves bonuses on every deposit, InstaForex is certainly the right place for him/her. Bonuses differ in their amount and there are certain conditions which are applicable the given bonuses. One of the major rule is, the bonus amount cannot be withdrawn from the amount. However, the profit earned from that bonus amount can be withdrawn anytime. However, for a fresher to this platform, InstaForex offers 100% bonus on the first deposit amount (max U.S. $ 2,000). And for every next deposition amount, the bonus will be 55%. If the user belongs to InstaForex club, he/she will receive another 40% bonus with a chancy/risky bonus option. The bonus amount of InstaForex club will be transferred directly to ‘InstaForex club card’ which is non-transferrable to regular account.

InstaForex spreads and commission

The spreads and commission value varies for four different types of InstaForex accounts. Right now, there are four different types of accounts. The variations are highlighted with a table.

AccountMin depositMax depositMin trade sizeMax trade sizeSpreads/Commission
Standard$1.00N/A0.011:10003 Pips (fixed)
Eurica$1.00N/A0.011.10000.03% / 3 Pips
Cent$1.00$1000.000.00011.10003 Pips (fixed)
Cent Eurica$1.00$1000.000.00011.10000.03% / 3 Pips

Trading platforms at InstaForex

instaforex cent

InstaForex offers five different trading platforms to its users. They are- MT4, MT5, InstaBinary, Web trader, and Multi-terminal. MT4 & MT5 are the most popular and user-friendly amongst all.

Contact information

In terms of services, InstaForex is amongst the top forex traders. Any user or interested person can get an easy access to their service. They have divided their service criteria into five.

  1. Technical support: Email- support@InstaForex.com; Skype- InstaForex.support; Phone- +443300109336.
  2. Relation management support: Email- clients@InstaForex.com; Skype- ifx.consultant; Phone- +443300102315.
  3. Finance department: Email- eng.finance@InstaForex.com; Skype- InstaForex.Finance; Phone- +443300102338.
  4. Dealer department: Email- dealer@InstaForex.com; Phone- +443300104227.
  5. Partner relation department: Email- partners@mail.InstaForex.com; Skype- IFX.partners; Phone- +443300102763.

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Conclusion

When online Forex trading has begun to get convoluted with hundreds of trading agencies, InstaForex came up with few simple solutions to this problem. They made the trading processes much easier than most of its competitors. It’s one of the few FSC regulated broker farms that can ensure maximum protection to its clients’ money. Even on request, they sometimes allow the user to withdraw the bonus money which is uncommon in forex trading. Beginner can simply start trading depositing only hundred cents. In addition, a user can choose to deposit the money from a wide range of money-transaction sources. Therefore, if anyone is willing to start the forex trading to invest his/her money, InstaForex would certainly be a perfect place to begin with.

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Fred Smith
Fred Smith / автор статьи
My name is Fred Smith. I graduated from the University College London UCL, and I have been trading on stock markets, binary options, and Forex for more than 10 years.
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