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

Lagis, Nigeria,
May 17, 2019,
Registered user

Good

Well so far so good I joined Instaforex since 2014, I started with $500,i grew it to $1100,when I placed a withdrawal for $500 they sent the money within the stipulated time..this was 2014,but I don't know how good they are now because I've not made any profit since then.. Their server, customer care, spread are OK..
 
Yaounde, Cameroon,
Apr 27, 2019,
Registered user

They deducted my 55.07$ with the pretext that the money was made with their star up bonus mean while the profit made with their bonus amounting to 155

INSTAFOREX IS A SCAM SYNDICATE
Honestly, I have work with a series of brokers but I want to say that instaforex looks a group of scammers who come together to scam its customers. What they call 1000$ no deposit bonus is the business plan for their scam game. First, they put in the clause 11 that you need to make 390lots before you can withdraw the bonus profit, what I did is that I managed the 1000$ carefully and made 390 lots and the 10% profit. When I deposited my 100$ and requested the bonus withdrawal, they told me that the 390 lots were to made after you deposit the 100$. There is no where that such a thing is stated in the agreement. Now I traded with the start bonus of 130$ + my 100$, made a total amount of 505$, tried to withdraw, they cancelled the bonuses amounting to 130$ and still rejected my withdrawal that I could not withdrawal part of the profit worked with bonuses. I then requested to withdraw my own deposit and the profit made with my money, the amount 219$ was deducted immediately after the request. The balance of 155$ which is the profit made from their bonuses remained in my account. I then tried to trade with the balance to see if I could make the 390 lots, but loss the 150$. 5 days after when I was expecting the 219$ to appear in my skrill account, they wrote to me saying that they are deducting 55.07$ as their bonus profit. Which means they sent back the 219$ to my account imaginarily before processing the withdrawal. This was 5 days after the amount was deducted from account. They have since deducted the 55.07$ and I decided to withdraw what they decided to give me. Can some one who is more experience in forex business tell me if this is right. I should recall that I had loss 100$ in another instaforex account earlier in trying to make 390 lots
  1 trader has found this review helpful
Flic en flac, Mauritius,
Apr 12, 2019,
Registered user

This is a terrible broker

They are a terrible broker. they stole my money. I have contacted customer care but they have just been taking round and round. This is the worst broker i have done business with in my whole trading career.
  1 trader has found this review helpful
Brazil,
Mar 16, 2019,
Registered user

Scammers

I made USD 1600,00 with they no deposit bonus, then when I withdrawal my money, they refuse, telling me that I have to deposit some money to withdrawal. So why the hell I have to deposit and after withdrawal ? Scammers, stay away from them.
  1 trader has found this review helpful
Singapore,
Jan 28, 2019,
Registered user

Using their PAMM service buyt clients can't withdraw money (no bonuses involved)

I've used Instaforex since 2017 Nov and under my PAMM account I've clients who placed money with them. Recently some clients tried withdrawing money and started encountering problems (Some withdrawals listed as processed but never received, some withdrawn US$2k but obly US$800+ received) . Peter from Kubin, Slovakia below if you think I'm a looser who is pissed off... you are 1/2 right because I'm pissed but not looser. You can check https://www.instaforex.com/forex_monitoring.php?trader=5932362#/
  1 trader has found this review helpful
Peter,
Kubin, Slovakia,
Nov 30, 2018,
Guest

Very good

Instaforex is good and big broker. I was trading with tham 6 years as beginner in contests. I won many contests and they gived all promissed money to my accouns, they paid always all money i made and i never found one not perfect thing in this company. They have perfect support, they repair, explain everything perfectly. Now i trade with money from my investors and they pay all money with no problem fast and correctly. I thing bad comments are giving only loosers which are pissed off for not making profit. Ty. Machomalo
  1 trader has found this review helpful
Forex Peace Army
Review moderation team note
You should read the reviews more carefully before insulting other reviewers.  The people you call "loosers" who could not withdraw their money might think you are nothing but a freelancer hired to post a fake positive review.
shaon,
Bangladesh, Bangladesh,
Nov 21, 2018,
Guest

never deposit on this broker

I was withdraw 57 USD and i was make profit 86 usd. but they don't give my profit. i was able to withdraw only 52 usd. they was cancel my profit.
  1 trader has found this review helpful
United Kingdom,
Nov 9, 2018,
Registered user

Scam alert

Wow seriously bad! None of the platforms work or at least they do not close trades when requested. Whenever this happens with a broker it is an alarm bell to dodgy practices. Im not talking about 1 request I'm talking about 5 or more requests to close a trade. Maybe using mt4 no problem I don't know but webtrader and mobile app no success many times over.

No serious trader can operate in this environment. I spent ages with this bonus account then traded up to $3000 with ease real money. But this repeated no quotes and not being able to close a losing trade. Wow seriously scam alert man don't deal with this. Be wise and avoid!!

I still cannot understand why any broker would not want to facilitate their traders to do well. It is very sad indeed.
 
Thailand,
Sep 25, 2018,
Registered user

Greetings,

recently i deposited a very small amount, 20$, which of course is nothing in the real world and gained about 400%, the account value before withdrawl requested has been 120$ and abit.

However, there were some weird things. A staff told me i cant withdrawl with the same method i deposited, but when i requested the withdrawl, it got rejected and i was asked to actually use the same method.

The account was not verified at all - No documents provided, just nothing and today they actually send me the funds to my neteller account. It took a little bit longer than the promised 1-7 hours, in fact a little bit over 24 hours, but still... so many bad reviews here....

Anyway, indeed it doesnt make sense for them to cause trouble on small amounts like that. However... Even tho the withdrawl worked just fine, their quoting is horrible, beside their deceptive non - spread account. There no such thing as cost per lot, but actually cost per pip which just equals exactly the actual high spreads of min 3 pips on EUR / USD. While executing orders, every single trade got requoted when i tried to open a position, but also, when i tried to close one. In average it took me 5-6 requotes to get an order into the market, but also out of the market, which indeed can cause huge differences in profit taking, but also taking losses and thats a PURE NO GO.

Withdrawl wise i had no trouble, but their deceptive account models and the constisant requoting at any time is more than suspicious and therefore i cant recommend InstaForex.
 
trader,
sabah, Malaysia,
Aug 6, 2018,
Guest

FULL OF HUSTLE

This is the hardest broker to deal with compared to any other broker. Yet they claimed to be number 1. From registration hustle, withdrawal, account hustle, trade hustle, everything is legging.

Just go to other broker. this broker is full of shit.
 

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.