InstaForex Review

Scam!
1.495 · 190 REVIEWS

Instant Trading EU Ltd

Also instaforex.eu

Updated: Jun 16, 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!
1.495 · 190 REVIEWS
Forex Peace Army
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Traders Reviews

Peru,
Jul 18, 2018,
Registered user

I Cant withdraw money

I have more than 1 year with Instaforex, without any problem, at the beginning.
From the last 6 months to now, It is very difficult to open a position quickly, some times the server take almost 1 min trying to open a position, and not only open, change SL or TP its also soooo slow.
I had the following problems:
- 1 sep 2017: #HPQ #PAF orders: 1275841582, 1276426036. the stop loss was not respected, SOLVED.
- 22 Jan 2018: #CL order: 1295471810. stop loss was not respected. NOT SOLVED. the claim is about the time. why #CL close +2 before (your like says 01:00 to 24:00)
You can see, the position was close: 20:13:20. CL was closed 2 hrs before the right time .
- 18/24 May 2018: price error in all indices. Split on #SPX (from 2730 to 273), ofc its sever error. The problem continues today
- 28 Jun 2018: #MON. order:1309405383. SOLVED. MT4 msgbox said "No price". they close the position from the server.
- 27 Jun 2018: Im trying to withdrawa my money and even today, I cant.
My visa card was stolen (I made the deposit to instaforex with this card)
I send many mails to different departments, they askme the pic from my new card and i send (6 Jul 2018) to change_requisites@mail.instaforex.com, and I still do not receive any response.
I tried to do the withdraw by BankWire, they said: "The reason for it is your ordering a withdrawal to a payment system other than the one you used for funding your trading account" and how i can do that if i cant do that by visa card???
the next week will be 1 month and i still cant withdraw my money.
Terrible service.
I hope with this, they will respond soon.
 
Pakistan, Pakistan,
Jul 17, 2018,
Registered user

Instaforex big scam

Inorder to withdraw funds I am failed to get fully verify my account due to their verification system.
 
wansuharuzi,
Malaysia,
Jul 11, 2018,
Guest

I have been scammed by instaforex

My mistakes because I did not referred to the reviews. I made wire transfer in order to deposite my account (5934096) since 20th.June 2018 last month. But until now (12th. July 2018), my account has not been deposited yet. The amount is usd1500. Stay away. They are scammers. I will post my case to all forex forums until they give my money back.
 
hassan,
Lahore, Pakistan,
Jul 3, 2018,
Guest

BE ALERT
Instaforex and Forexmart both are same Broker but due to negative REview and lot of scam instaforex change his name forex mart plz be safe with these broker they both are scammer
 
nonosi,
Bulawayo, Zimbabwe,
Jun 19, 2018,
Guest

Dont register

Nonsense broker

They failed to verify my account so that I won't be able to withdraw my profits
 
Stockholm, Sweden,
May 19, 2018,
Registered user

unethical scum

This company is the absolute worse. Their sales representatives constantly spam and harass you to deposit. And when you do deposit, suddenly there's issues withdrawing. Their verification system is a complete joke and designed not to work. It's OK if you lose money ... but if you make any kind of significant amount they will find some reason to not to give it to you.

I'm actually with two other amazing brokers and was trying to diversify my substantial portfolio by adding another broker:InstaForex. I had already read the reviews here but wanted to see for myself... oh boy, did they show me!

STAY AWAY FROM INSTAFOREX. Just like it says at ForexPeaceArmy, instaforex is the lowest of the low!
 
MadMan,
Philippines,
May 7, 2018,
Guest

I got multiple deal winning the bet but instead of getting credited, my balance stays on the same figure prior to bet. I also get instance wherein instead of getting money winning the bet, my balance is being deducted.

Happens multiple times so I don't think I am going to invest if the system is unreliable.
 
Pakistan,
May 7, 2018,
Registered user

Total Scam. Do not waste time and money.

Hello. My account number with insta forex is 770312. I would like to say that every thing here in FPA is true for instaforex. It is pure scam company. Worst on planet. I turned my 20 dollar into 7762 dollars in 6 months but when i sent withdrawal. They cancel all the money and replied to withdraw my own money which is only 20 dollar. Now They are unable to reply on emails. Nor trying to contact via chat. They only refer to antifraud which is actually totally fraud. I need to submit my case here in court so that every thing should come true. Admin please help me how to file the case against this bulls*** which still exist. I am too trying to file the case against all the IBs here in pakistan who are doing working with this bullered culprit.

More. Community discussion of this issue >>

 
Unhappy Client,
Singapore, Singapore,
Apr 25, 2018,
Guest

it's a fraud and you can never withdraw your money.

Instaforex is a scam and fraud. After I deposited US$200 to test the system via my credit card (verified), I decided to make a withdrawal because the spreads for minor and cross are way too expensive and for majors you always have to hit their reprice button. And they REFUSED TO LET ME WITHDRAW MY MONEY TO THE ORIGNAL CREDIT CARD. On the basis of I couldn't verify my address. I have sent in a numerous copies of my utilities and cables bill for the verification and they kept rejecting on the basis it does not come with a signature or stamp. Nowadays all the bills are computer generated and they don't have signatures or stamps. I just don't know why they can't transfer the money back to the original credit card (which most brokers do).
In my opinion it is a fraud!
 
chittagong, Bangladesh,
Mar 21, 2018,
Registered user

good broker

I have joined SuperForex because they provide excellent contest and bonus programs. I have been participating InstaForx Sniper contest for 3 months. Unexpectedly end of the last month I'm the one who got from InstaForex $550 prize after my resounding victory in their Sniper contest. Even they sent the bonus amount next day after the winner announcement. I start trading with this bonus and made some profit and already withdraw $120 from my profit through Neteller. I had no issues with them ever. I am really surprised of saw bad reviews.
 
Forex Peace Army
Review moderation team note
We are surprised you called them SuperForex in the first sentence of your review. :)

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.