InstaForex Review

Scam!
1.458 · 193 REVIEWS

Instant Trading EU Ltd

Also instaforex.eu

Updated: Nov 16, 2020 · InstaForex.com (.org)  · 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!
1.458 · 193 REVIEWS
Forex Peace Army
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Traders Reviews

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. :)
Brunei Darussalam,
Mar 6, 2018,
Registered user

Scamming people and lie everything lol what are they thinking about doing this kind of thing hahaha.
 
Reserved,
Canada, Canada,
Feb 27, 2018,
Guest

I saw their affiiate bonus of 3500 and i was sold like a fool. It was too good to be true. They stole my money. Withdrawal takes years to be able to take out money. THEY ARE A SCAM , DO NOT USE THEM

They will scam you!!! DO NOT TRUST THEM.
  1 trader has found this review helpful
India,
Feb 17, 2018,
Registered user

InstaForex will deduct money from Profits, claiming bonus settlement.

SCAM!!

InstaForex will deduct money from Profits, claiming bonus settlement.
In my case they gave me 255 USD bonus and cancelled it, and additional 365 USD deducted from profit.

Withdrawal is big problem : You have to beg for money.

Worst broker in the industry.
 
Sofia, Bulgaria,
Feb 3, 2018,
Registered user

Positive Experience

I have a positive experience with InstaForex. I have a Insta.Standard account in USD currency with a first deposit of 150$. I trade during day time, using long term and short term positions. I use currency pairs GBP/USD, USD/CAD, USD/NZD, USD/CHF and USD/JPY. The profit is reasonable 400$ a month. I never experienced money lacking from my account. When I had delays in execution I called the support team and they always address my problem. Till now I am pleased with them.
 
Turkey,
Jan 13, 2018,
Registered user

-Scammest broker I've ever seen.

they are saying they will give $3500 but it is not. they gave me just $1000. they said system is giving money automatically. and dont belive this. their account is just micro or nano account. in reality it's not 1000, 100 maybe even 10 dollars. And guess what I made profit with this account, first i have made a loss till 350. and after that i made that $350 more than $1250 and they just closed my open positions with a message "make deposit to continue to trade", "minimum deposit $100". there was no need to deposit when i'm losing right?

So;
-You need to trade at least 3 lots to withdraw 1 dollar. This makes nearly impossible to withdraw any good profit
-they are saying $3500 and it is not. they gave me just 1000
-they dare to close my open positions. I understand they have a point. but how can you touch my positions? maybe i'll add money huh? You'r proving that you will scam my real accounts too right?
-And your website is really bad, i'm trying but always getting error to upload new documents. so you won't give my earned money too huh?
-Actually this is good, you can be sure i'll not make any deposits.
-Scammest broker I've ever seen.
 
Peter,
Auckland, New Zealand,
Dec 6, 2017,
Guest

TOTAL SCAM !!! RUN AS FAST AS YOU CAN!!

I started trading with one of their Bonus accounts and made quite a bit of profit. So they locked the account and ask for real money to be transferred. So I transferred USD 351.35 to my account. But for some reason (!!) less then that amount was credited to my account, and therefore they insisted that i needed to transfer more! I refused and after many emails, I decided to withdraw my money again, So I withdrew the complete amount, which was just sitting there for a month or so. From the initial deposit of USD 351.35 I got USD 237.99 back!!! I have since written many emails and asked for a detailed breakdown, but to no avail. No reply whatsoever!! Total scam!
 
Taurai,
Johannesburg, South Africa,
Oct 27, 2017,
Guest

won't process withdrawal due to bogus reasons

Scammers. They keep coming up with an excuse not to return my money to the credit card i used to deposit into Instaforex even though I have provided all the required documentation. I have sent utility bills, bank statement, telephone bill and they reject them all what else can I send? Also when I place the same trade on Instaforex and on another broker, there is hardly any profit on instaforex yet on the other broker the same trade has made lots of profit. Scammers, don't get duped out of your money by this scam broker you will be just giving it to thieves
 

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.