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

Nurhuda Hendra S.,
Indonesia,
May 19, 2010,
Guest

I have good experiences with this broker. Definitely, not the best out there, but still it's good for me. The live support is responsive, always replying my question, and always has the solution for the question. The deposit/withdrawing is fast, accurate, and sometime you have to wait for one day, but it will just come to your account at the end. The platform is not the best, the spread is definitely not the best, the execution is sometimes delayed, re-quoted..But since i'm not a scalper trader, those are not problems for me.

I think they are just as good as i need.
 
Hercu,
greece,
May 22, 2010,
Guest

First of all I would like to make a comment by reading this website forum. on forums like this you can see few pple lost their money and blaim the broker. yes it is always not our fault it is the broker. other cases there was some troubles in deed. in other cases pple just do not like any company and talk trash just because they can. I even saw one of the biggest fx brokers called scam. So i think one thing must be cleared. When you call some one scam that is serious thing. some said they are not regulated well get your facts straight before you post here. I agree on FPA that all companies should have better policy and better support. Just because you grow up in volume fast and dawning, that does not mean traders have to pay for it. But looking seriously if some one have let's say 20k customers and 5-6 are not happy, can you call the company scam? no. they need to train their employee and improve their services yes. So if FPA want to remain really serious website what it used to be BE OBJECTIVE do not make conclusions. Every company have their screw ups I am trader over 7 years, I can tell you some things about saxo bank one of the best fx providers? can I call them scam? no, how about ACM one of the best as well swiss broker , can we call them scam as well? definitely not. So my point is guys chill out. If you start wet your feet in forex market make sure you do not treat it as gamble but treat it as an investment. if you are scalping then choose brokers wisely that will actual provide you what you need. there is NO company that have 100% satisfied customers.

Review Moderation Team Note: The FPA never labels a company as a scam unless there is an FPA investigation or a regulator files serious charges. In this case, InstaForex promised to cooperate with an FPA Scam Investigation and to provide their own evidence. They would not cooperate and never provided any of the promised evidence. Everything InstaForex needs to do to have the scam finding lifted is detailed in the finding.
 
papay,
Pakistan,
May 28, 2010,
Guest

Beware "http://www.forex-broker-rating.com/comments/InstaForex" takes only positive reviews about instaforex if someone tries to place some concerning comments than surely they will not post, these type of forex broker rating websites are shelter for scammers, so please also highlight these scamer friendly websites so no one get a fake and delusional reviews of this trap.
 
Joe,
Indonesia,
Jun 3, 2010,
Guest

Only one short word for this company : SCAM !!!!
Go to hell with my money
 
Hercu,
Greece,
Jun 29, 2010,
Guest

After reading moderators investigation as was adviced, after my last post I opened live trading account with them as well worked with their pamm system. What I see from some other posts... they say platform is ok or not good. Well most of the broker companies work with this platform trick is laughs you need to know how it work. Yes there are requotes issues in deed. I worked on pam and of course i can provide the number etc. No issues with withdraws ( I used moneybookers). Support team always responding even if sometimes they have hard time to understand what you are asking them. So even if winings were close to 4k there were no problems at all. so more than one accounts were open to test and see. with names of my cooworkers from same ip and same pc. Accounts were trades. bonus was recieved and no issues from them. SO my conclution is: Not the best broker ever in deed, they need more personal and train them more, better liquidity. can't call them scam, just diorganized and luck of tranining.
 
Dennis,
Florida,
Jul 5, 2010,
Guest

Have an account with this company and am very pleased as they have started to really turn things around with the service problems in the past. Wish they offered Visa or MasterCard debit card on account and deposits to the account using credit cards and PayPal. The 1 to 1000 leverage is the best in the industry, and 13.0% interest on account balance is the best in the industry. Commissions are a tad high, but with the interest this is not negative thing, as few brokers even come close to paying this much. And if you do not trade at all you get 6.0% interest. This is a fun company with contests constantly going on. Great for MT4 traders. I feel the company may be getting some bum rap because it is located in Russia. The company says they are best Forex broker in Asia. I agree with them whole heartedly.
 
john,
malaysia,
Aug 1, 2010,
Guest

I also have few accounts with instaforex since last years. The platform is ok for me. Easy to deposit and also easy to withdraw money. Every month they call me and asking how about my trading? Is there is any problem??? What i have to say??? I have no problem until today. Very good service. I give insta 5 stars ;).
 
Dedy,
Indonesia,
Sep 2, 2010,
Guest

Today my request withdrawal not yet processed too. With forced, I will posting at FPA and forex forum with my screen shot.
Because my request withdrawal today also Refund again.

Account number: 179232
Withdrawn amount: 650.00 USD
Sum to be paid: 650.00 USD
Recipient's account: U4153232
Recipient's comment: please process my withdrawal soon
(REFUND)

-------------------------------------------------------------------------------------
Account number: 179232
Withdrawn amount: 250.00 USD
Sum to be paid: 250.00 USD
Recipient's account: U4153232
Recipient's comment: please process my withdrawal soon
(REFUND)
------------------------------------------------------------------------------------------------------------------------
Account number: 179232
Withdrawn amount: 216.00 USD
Sum to be paid: 216.00 USD
Recipient's account: U4153232
Recipient's comment: WHY MY WITHDRAWAL ALWAYS REFUND? PLEASE PROCESSED
(NOT YET ALSO PROCESSED)

Please improved the finance work, BAD SERVICE
 
Jakarta,
Sep 4, 2010,
Registered user

THIS INSTA FOREX is one of SCAM broker that i found latest. even their BONUS given is scam. why?
let me tell u my story. I deposit 1000 dollar, i get bonus 30%,, equity become 1300 dollar. I trade all, and loss.
Next, i deposit again 200 dollar, get bonus 60$. I trade, and win 120$ . Equity become: 200+60+120 =380. I request to withdraw all the money. You Know how much i could withdraw??? It's only 20 dollar man!!!! WTF. WHY? first time they give me 300$, but we NEED to PAY NEXT TIME WE DEPOSIT! 380 (equity) - 300 (first bonus) - 60 (second bonus) = 20 dollar left!! F**K

WHAT ABOUT IF I deposit 200 $ , then suddenly need money and CANCEL trading. I m sure i could NOT withdraw that 200 Bucks i deposit. because the first bonus is 300$, that 200$ is still less to pay my 300 DEBT!

Thanks to FPA. KEEP WARN PEOPLE about INSTA. Seems this company getting bigger in Asia, I think nobody know about this scam think because never experienced like i did
 
Ridwan,
Indonesia,
Sep 13, 2010,
Guest

Warning about this broker.
they also using their forum at MT5.com to make a fake review about this broker. also beware about their IB or their Reseller. They are contains some thief too.

Their advertisement is also bulls***.

Throw away this broker, because they are danger,
I'm also can't withdraw my money in here (luckily it is just small money), very hard to withdraw if you got a profitable result in your trading account.
 

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.