InstaForex Review

Scam!
1.473 · 191 REVIEWS

Instant Trading EU Ltd

Also instaforex.eu

Updated: Jul 24, 2020 · InstaForex.com  · Is this your company?

InstaForex is a forex broker. Insta Forex offers the MT4 and MT5 trading currency platforms. InstaForex.com offers over 105 currency pairs, bitcoin, cryptocurrencies, shares, oil, gold, silver and cfds for your personal investment and trading options.

InstaForex
2018-08-02:  Cysec had fined Instant Trading EU (one of the companies behind InstaForex and ForexMart)  €130,000.  The fine was for  non-compliance with article 36(1) of the Law, as it did not act fairly, honestly and professionally in accordance with the best interests of its clients and also for non-compliance with article 36(1)(d) of the Law and paragraphs 15 and 16 of the Directive, as it failed to ask clients to provide the necessary information regarding their knowledge and experience, to assess whether the investment service or product is appropriate is appropriate for them.

CLICK HERE to confirm.
August 2016:  The Brazilian Comissão de Valores Mobiliários (CVM) has issued an alert against InstaForex.  CLICK HERE to verify.
January 13, 2015:  The French AMF has issued a warning about unauthorized forex brokers.  InstaForex is on that list.  CLICK HERE to verify.

Scam Alert!

The FPA has confirmed a scam case against InstaForex.

Click Here to read what happened.

Scam Alert!

InstaForex is hereby blacklisted by the Forex Peace Army.  We urge traders not to open accounts with Insta Forex. If you already have an account open with them, we urge you to withdraw all of your funds immediately. If InstaForex refuses to process your withdrawal, we recommend contacting your bank and local police to see if you can file charges for internet-based financial fraud.

June 9, 2014:  The Ontario Securities Commission has issued an investor warning about InstaForex.  CLICK HERE to verify.
January 16, 2013:  The Bulgarian Financial Supervision Commission has issued a warning against InstaForex.  CLICK HERE to verify.
NOTICE:  October 2013: InstaMarkets is no longer licensed by the Belize IFSC.  InstaForex's representative claims this was a voluntary resignation of its license.  Others have reported that Insta was thrown out of Belize.

2011-01-26:  The CFTC filed a lawsuit against 14 offshore forex brokers, including InstaForex.  CLICK HERE to verify.



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Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 1000:1
Minimum to Open Live: $1
Established: 2007
Address: Kalingrad, Russia
Contact: support@instaforex.com, +443300109336
Regional offices:
Regulators: CySEC #266/15, SVGFSA #IBC22945, BVI FSC #SIBA/L/14/1082
Prohibited countries:
Trading platforms: MT4, MT5, WebTrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (110+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (130+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
PAMM: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, Alipay, American Express, Bitcoin, Diners Club, JCB, Litecoin, Local Bank Deposits, Local Bank Transfers, PayCo, UnionPay, WeChatPay
Withdrawal Methods: Bank Wire, VISA, MasterCard, Alipay, American Express, Bitcoin, Diners Club, JCB, Litecoin, Local Bank Deposits, Local Bank Transfers, PayCo, UnionPay, WeChatPay

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Scam!
1.473 · 191 REVIEWS
Forex Peace Army
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Traders Reviews

Tel aviv, Israel,
Jul 23, 2020,
Registered user

Instaforex its scan. They stole my money

Service use: Live

Length of use: 6-12 Months

Its impossible to get the money out. they have excuse for every option that I tried to withdraw the money (Its Visa fault etc.)
You have been warned !!!
 
Varna, Bulgaria,
May 24, 2020,
Registered user

Bad choice

Not surprised they`re qualified as a scam. They are too pushy to their client and when the client need something from them... nothing.
  1 trader has found this review helpful
Punjab, Pakistan,
Mar 21, 2020,
Registered user

Instaforex is a fraud broker. dont deposit your money at this fraud broker

Service use: Live

Length of use: 0-3 Months

I have register my account at instaforex .my account number was 80777742.
My account was fully verified.
This scamming broker offering a bonus by posting at forex-pak.com.
I register my account there and post fore whole month.
After posting i have gotten bonus for trading.
I trade at bonus and get some profit.
When i was in profit .this vile broker make my account unverified.
When i ask that my account was verified.then they ask me to submit new documents.
I submit.but they rejected.
After 1 year i submit document again.and my account become verified again.
I start posting again at forum.
And i getting only 13 $ bonus by posting whole month.
I trade with that 13 $ and make 8 $ profit.
Then i decide to check withdrawal.
I submit withdrawal request of 5 $.
But request rejected.and my 5 $ added again in my trading account.
I continued my trading and earn 15 $ more profit.
Then i submit 10 $ withdrawal request.
Funds deducted from my account.
But soon added again in my account.
I asked about this.and they told me that you have an opening trade.therefore withdrawal rejected.
I trade again and earn total 52 $ profit.
Now i submit 50 $ withdrawal request.
And stop trading.
This POS broker make me waiting and after 24 hour his fraud broker disabled my account 80777742.
When i ask at live chat.they told me to contact antifraud department.
When i email them.
They duffers told me that when i register at forum for post, i accept conditions and in condition, it is clearly mention that we can close any account and refuse to pay profit.therefore we disable your account because we have the right.
When i ask them the reason.they have no reason to show.now they are not replying my emails.
.
This broker have not money as little as 50 $ to pay.how can it give you more withdrawals.
Stay away from this fraud broker. 100 % fraud.

More. Community discussion of this issue >>

  2 traders have found this review helpful
London, United Kingdom,
Mar 15, 2020,
Registered user

their MT4 client has trojan in side, dont use them at all

Service use: Live

Length of use: 0-3 Months

i opened their 3500 free credit account yesterday and installed MT4 client downloaded from their website. i then trade bitcoinusd pair as its over the weekend,i keep the instaforex MT4 client open and was watching streams online with full window, while i was watching, my mouse start to move abnormal, so i exit the full window mode and i see that all my blockchain wallet client was opened and my mouse want to acquire control over me, i thought my browser was hacked, so i immedately closed my browser but my mouse still moving it self, then i quit the instaforex MT4 client, after this i got back my PC's control. this forex broker is insane... STAY AWAY. i dont know what will they do if its on weekdays... so horrible!!!!!
 
Kuaa lumpur, Malaysia,
Nov 18, 2019,
Registered user

Instaforex took my profit 8.5k

Service use: Live

Length of use: 3-6 Months

InstaForex took my profit 8.5k. They claimed that the profit 8.5k was made from 900usd usd bonus given during my initial deposit 3k usd.
They took my profit clause 11. Fyi, my fund manager did not inform about clause 11 impact if i took 30% bonus.

Instaforex is an unethical company.
 
Mohamed Salem,
cairo, Egypt,
Oct 11, 2019,
Guest

be ware

Service use: Other

Length of use: 0-3 Months

I entered into their one day contest with leverage 1:500 and made about 20 successful trades so they calculated my profits according to 1:10 leverage, I sent them a polite email to their dealer@instaforex.com as I was told and their answer was they don't see ant technical mistake and I shall check again.
 
Japan, Japan,
Sep 21, 2019,
Registered user

The worst scam company ever

Service use: Live

Length of use: 0-3 Months

My son committed suicide because of instaforex.

They were confiscated illegally for his son's profit of $ 7000.

My son was recording all $ 7000 transactions.

I requested payment by September 26th.

If instaforex does not pay, i will sue instaforex yes.

If you are not paid, write your email address here.

People who were in the same damage!

Let's fight together.
 
Dhaka, Bangladesh,
Jul 14, 2019,
Registered user

They didn't give My own net Profit 5,600$.

Service use: Live

Length of use: over 1 Year

In the InstaForex organised "Bangla Forex Forum" I'm Abdullah Al Mamun made a real trade with bonus funds every month in exchange for a regular post, and in my three real trading accounts, I had a good profit. 1558731, with the bonus fund, I had profiled $ 5,600 net profit, but when I asked to withdraw just $ 111 profit from $ 5600 profit Only then, their Antifraud department blocked my account with all profits. They gave me a reason to stop blocking my accounts - “Verified with Fake documents of my account”. When I started trading in that 1558731 account, that account was fully verified by their Verification Department by those documents.I want to know them through You the account 1558731 was Verified but They did not block my account when I was Trading there,when I was Profiting there,They didn’t blocked & tell me the Documents was fake, and why? But whenever I wanted to withdraw some profits, why did They block my Verified 1558731 account with Profit ? Why would the Antifraud department block my account and tell my documents to be fake even after their Verification Department has fully reciprocated with my documents? Then did their Verification Department verify with my fake the documents? In this way my three- 1558731,7617075,15119929 accounts have Blocked their Antifraud department with a lot of profits.I told them that if I upload my new smart card and bank statement copy, they will start those profitable accounts unblock ? They did not give any solution to me. Their Verification Department Verified My Account with the same Documents but Their Antifraud Department said This Documents Fake & also Permanently Blocked My Profitable Accounts !!!

More. Community discussion of this issue >>

  3 traders have found this review helpful
hamim,
dhaka, Bangladesh,
Jun 14, 2019,
Guest

Not possible withdraw by local ib

Service use: Live

Length of use: 0-3 Months

I am form bangladesh . here local ib is fraud . not possible to withdraw by local ib.

i did contact with main office they are not care me ..
  2 traders have found this review helpful
muhammad razif,
kuala lumpur, Malaysia,
May 25, 2019,
Guest

for ccy trade is ok, but for indice trade is disable for a reason of technical problem that wasted my time as a trader. if your broker dont have a liquidity just dont offer that indice pair that you are wasting a time of traders like me. your reason for a technical problem is not acceptable
  1 trader has found this review helpful

Frequently Asked Questions

Is Instaforex a good and legitimate company?

InstaForex has been fined by Cysec for several reasons, including that "it did not act fairly, honestly and professionally in accordance with the best interests of its clients.

InstaForex has been sued by the US CFTC.  InstaForex has been the subject of warnings by at least 4 other government regulators around the world.

The FPA does not consider InstaForex.com, InstaForex.eu or any related site to be a good or legitimate company. 

You can not only see many client complaints about InstaForex on their review page, but also read many trader complaint threads about InstaForex in the FPA's forums.

Can I withdraw an InstaForex bonus?

Getting bonus money or else profits from a bonus at InstaForex is not always easy.  Even if a trader follows all the rules, InstaForex can accuse a trader of cheating, cancel the bonus, and confiscate all profits.  InstaForex can do this without presenting any evidence.

In 2008, two FPA members were accused of cheating while using an InstaForex bonus.  InstaForex not only removed the bonus, but also confiscated the profits that both traders had made.  InstaForex's representative to the FPA promised to provide evidence to back up this cheating accusation.  She never provided a single piece of evidence.  Instead, she just kept emailing her claim that they cheated and said that her repeated unsupported claims of cheating qualified as proof of cheating.  The FPA does not consider repeating an accusation dozens of times to be evidence that the accusation is true.  The clients were never paid for the profits InstaForex took from their accounts.

Even without a bonus being involved, it is possible for InstaForex to confiscate profits based on an unsupported accusation of cheating.

The FPA is not surprised that Cyprus fined InstaForex for being unprofessional, unfair, and dishonest in dealing with its clients.  The FPA is only surprised that it took so long before this was done.

Is InstaForex regulated?

Even in March of 2020, InstaForex.com's website still claimed that the InstaVector branch of the company is registered with the Russian Federal Financial Markets Service.  The FFMS was disbanded in 2013.

InstaForex was regulated in Belize.  It is not regulated there any more.  Some people claim that the Belize IFSC threw InstaForex out.  InstaForex claims they voluntarily gave up being regulate there.

InstaForex is regulated by CySEC in Cyprus.  InstaForex has also been fined by CySEC for being dishonest and not acting in the best interests of its clients.

Outside of Europe, InstaForex is regulated by the BVI FSC, which is not known for being a very strict regulator. 

InstaForex is also registered with the SVG FSC, which specifically does NOT regulate forex, binary, or crypto trading.