This means that the broker’s European clients are insured by up to €20,000 in case their account balances are somehow unrightfully damaged. This membership is not a small matter – unruly brokers get their licenses taken away regularly for not complying with the ICF. As a globally-available broker, InstaForex is regulated by multiple financial institutions including the FSC and the BVI.
User Experience
There are four types of trading platforms available, including InstaBinary, WebIFX, MetaTrader4, and MetaTrader5. InstaForex also provides video tutorials on how to register on each platform. It aims to make it easy for beginner traders who want to join InstaForex. Not only that, but beginner traders are also exempt from confusion in determining forex trading strategies.
Minimum Deposit Only $10
If you’re not confident enough in your trading strategies or just don’t have time to manage your portfolio, you can use this feature and still make solid trades. Essentially, copy-trading means following expert traders through your trading app, looking at what they do, and copying their trades instantly with a simple push of a button. Every InstaForex client is free to choose a trading platform that can be tailored to their needs.
A client with a segregated trading account is able to store 70% of his deposit on a bank account or an account belonging to an authorized representative. This extra client protection is a very useful feature from this broker. This is the standard signup procedure for forex brokers and it shouldn’t take more than a couple of trading days to get approved. The final step before you can start trading is funding your account – although the minimum deposit is zero, you need money to trade even if it’s only $1. You don’t need to be an expert in analyzing market trends or understanding complex technical indicators. By selecting skilled traders (also called “Masters”) to copy, beginners can earn profits by following the same trades and strategies that seasoned traders are using.
Among other things, InstaForex has gotten accolades for having the best copy-trading platform in the UK, as well as being the best broker in Asia, and the best ECN broker in Europe. On the InstaForex website, there are around 30 languages provided to facilitate traders from various countries. And then, there are around 300 trading instruments offered by InstaForex for traders.
You’ll need to prepare a scanned image of your ID or passport to upload. In this guide, we will explore what InstaForex Copy Trader is, how it works, its benefits, and how you can use it to enhance your trading experience on InstaForex. See how InstaForex compares to the leading forex brokers by reading one of the reviews below. All things considered, InstaForex is a very well-rounded broker that mostly caters to currency traders. The number of currency pairs is huge and you can spice up your portfolio with CFDs which are not very numerous at the moment but are steadily rising in number.
This is very quick for email customer support – most brokers usually take a couple of days before responding to prospective clients. On the downside, the broker isn’t listed on a stock exchange and is not regulated by any top-tier regulators aside from CySec. All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist.com. Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website.
At the time I didn’t see any problems with the way they executed things. All of my tradings went on smoothly with no problems whatsoever. But recently I have been having a hard time logging in to my account. It said my account password has expired or something, I don’t know what that meant. So, I tried to contact their customer service, but they haven’t replied to my chat yet. For smoother and safer trading, verify your account by clicking the “Verification” menu on the left.9.
You can also get regular news from the broker’s Youtube channel – this includes analyst opinions, predictions, global events, and interviews of xcritical rezension numerous guest analysts. The channel also monitors MT5 fxcriticals and posts the most popular articles and comments in regular videos. InstaForex is one of few brokers that actually keep their promises about bonuses. If the Master you’ve chosen meets the above criteria, then you can start copying them.
Advantages of InstaForex Copy Trader Platform
All in all, InstaForex is a well-rounded broker for many types of traders. The contests and bonuses, the latter of which was discussed above, are also features that make user feel valued by the company. InstaForex offers contests like Ferrari, Lucky Trader, Chancy Deposit, FX-1 Rally, Miss Insta 2021, and more, making trading something everyone can have fun with. Much like its older cousin, MetaTrader 5 provides a full set of trading features in a much more modern-looking frame. However, MT5 has a more comprehensive suite of charting options and is a faster, smoother piece of software.
Top Features
Unlike the two aforementioned accounts, the ECN account only accepts EUR and USD as base currencies and has market execution instead of instant executions, and therefore, it is quicker. This account has floating spreads averaging at 1.2 pips, making it cheaper and quicker than the Insta.Standard and Insta.Eurica – however, the minimum deposit here is $100. If you want to put your knowledge to practice, there’s always Instaforex’ demo account. This feature allows you to trade on the real markets using virtual money – that way, you can test and get used to executing your strategies without risking real money. All in all, InstaForex has a bulletproof educational offer, making it a sound choice for beginner forex traders. The sturdy MT4 may lack the glitz of more modern platforms but it makes up for xcritical reviews it with a plethora of add-ons that can improve the trading experience significantly.
Data safety
Nonetheless, this is a great option to have, especially if you want to have a closer insight into the strategies of seasoned experts. Only a few forex brokers like eToro have solid copy-trading capabilities, so this feature is a testament to InstaForex’ competitive edge. InstaForex is an international forex broker that provides an accessible trading platform to a whopping 7 million customers worldwide.
The most important part is the “Copying Ratio”, which represents the number of lots you want to invest each time the master trader opens a position. If your capital is smaller than the master trader’s, ensure you use a smaller lot size as well.6. Scroll down to the “Copy Trading Period”, where you can set the start and end dates for copying. Different from Insta.Standard accounts, Insta.Eurica accounts do not require payment of any spread on opening a deal.
- We sent InstaForex an email with a simple inquiry to see how quickly the customer service will respond and how they will answer our question.
- As the name suggests, this is an upgraded version of the ECN account and it’s designed for pro traders who need market execution and trade in large volumes.
- The Insta.Standard account is for all kinds of traders and has fixed spreads ranging from 2 to 7 pips, therefore, some fees are low and some are high.
- These include phone, email, live chat, Telegram, Facebook, Skype, WhatsApp, and Viber.
You can get 18 plugins through InstaForex which give numerous candlestick charting capabilities – these options are very handy for executing the most popular forex trading strategies. MT4 is the most widely-spread trading software on the market and is highly appreciated for its well-rounded functionality. Moreover, it is hailed by the traders of the world as one of the top forex trading platforms due to its intuitive design and logical workflow.
Trading futures is tricky, but Insta-Futures is an innovative way to go about the process. This is the basic retail account that supports trading with EUR, USD, and GBP as base currencies. The account has a fixed 2-7 spread fees and offers instant trade execution. InstaForex offers a plethora of charting tools and news feeds through its platforms, and 30 analysts provide their research to the broker’s clients. Some of these researchers provide more comprehensive data and stronger arguments than others, but you can take your pick and choose the ones that seem the most precise. InstaForex sticks to the classics when it comes to trading platforms.
