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.



 Need more info?
Read and Ask HERE.

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

Dennis Tan,
JB, Malaysia,
Feb 4, 2014,
Guest

leads to a profit higher than 10% of the initial deposit, the Company reserves the right to use correction of such trade financial result in the size proportionate to the difference of the above mentioned prices in pips, by means of deducting the funds with the comment "Clause 5.12. correction". They deducted my profits USD 267.17
 
teodora ,
wellington, New Zealand,
Jan 15, 2014,
Guest

SCAM. They refuse to process the withdrawal of MY DEPOSIT and profit!!!! Scam!

2013-12-27 1 Star Scam.
I had a small acount, I traded intraday (5 - 15 minutes bars) approx 3 days and I was not happy with the spread, so I requested my money back + profit (Netteller, on they website withdrawal is dome "between 1 and 7 hours")
After 1 week, 3 withdrawal attempts and no answer, I received the standard message:

"Please be informed that your report has been pass to our finance department. Please kindly wait the process until be completed.
If you have any further questions, please do not hesitate to contact us. Thank you for your letter."
That was sent 1 week ago. I contacted them several times, the same message: "Please kindly wait"

It's not about money, as that's a small amount, but they're a scam! And if they're not able to pay few bucks as per their own terms and conditions, what if I had a 10.000 usd account with them?!
 
Bao Long Of MT5,
Bandung, Indonesia,
Jan 15, 2014,
Guest

Hello, just want to write my review of Insta, but not that much or detailed or fully.

This is purely objective not because I got bonus from Insta but based on my experience. Just to provide peoples more detail about the true condition in this particular thing..

I just trade with bonus plus little deposit there and everything went smoothly so far and I know there are traders who only use forum bonus but they have gotten hundred dollars so far.

This link explains everything I want to say.

http://forum.mt5.com/showthread.php?45610-Instaforex-proof-of-payments

Thank you for FPA to show my review and be objective and neutral about the situation.
 
Lam,
Viet Nam, Viet Nam,
Jan 9, 2014,
Guest

My account is 1285716. I have been submitted withdrawal request from 16/12/2013. And Now I am not received money from instaforex. I have contact many times via live chat and contact to Finance Department but they said that: please wait. I am still waiting but they don't reply. I say I need reason about delay payment but they don't reply email. Manager please for me a reason about that. I am dissatisfied with support of instaforex because They can't give me exactly reason. Please solve my problem soon, thank you!
 
Ammar Saeed,
Faisabad, Pakistan,
Jan 9, 2014,
Guest

Hi instaforex was good company but in past now i its not doing good i am working in the forum account and my withdraw is delay when i asked form the company and demand my earning and i tell the insta account number to the company then insta disabled my account and and no any reason give to me why my account is disable.
 
Forex Conclusions,
München, Germany,
Jan 7, 2014,
Guest

I posted a review about InstaForex at the website Forex Conclusions using different sources (among others information from FPA).

The conclusion to the review was not very positive and I got following comment from "Gertrude" from Insta on the website:

"Hello, This is Gertrude, a PR Manager of InstaForex and I would like to request this post (put link) to be deleted in your website because it contains defamatory materials which are not true and contains no facts to prove their words and this is just a part of our marketing policy. Once you’ve deleted it please contact me in my email at ifx.gertrude@gmail.com. Thank you."

I didn't delete the post of course, but asked for details from Gertrude about what parts of the review was "defamatory" and not based on facts.

We believe this reaction is very much in line with the discussions FPA has had with InstaForex and hope we will get an answer from InstaForex.

The discussion can be found here:
http://www.forexconclusions.com/instaforex-review/

Thanks to FPA for a great site!
 
Baron Krumlau,
, Czech Republic,
Jan 7, 2014,
Guest

Instaforex is the worst broker I have ever used.
Their support really sucks, they do not even pretend they are trying to help you they just copy paste part of terms.
They do not reply to emails.
They are delaying your withdrawal forever.

When I found how ridiculously high commission they have requested a withdrawal.
Nothing happen for a week – when I tried to find out why it took my hours of frustrating communication.
Finally I was told they will send my money after 45 days since deposit as a part of money laundering.
So I waited more than 45 days and requested withdrawal again.
After 8 days since withdrawal I still do not receive my money. I used moneybokers withdrawal that should take 1-7 hours as stated on their own portal.
They did completely ignore my emails they keep saying ‘we sent it to financial specialist’ on Skype.
They keep bull***&ting me on chat. Still they were not able to answer
Of course I can prove everything I stated here.
When I receive my money
And why does it take so long

All in all Instaforex is definitely scam.
 
Ruightingnov,
Nakon Nayok, Thailand,
Jan 1, 2014,
Guest

After waiting for 6 months was preserved money from the Liberty Reserve (LR) gets close to it.
The Instaforex thus trapping the investors. And the condition is being charged 50 % .
At first, understand I broke deposited into my LR 50% .
But today, the answer is that the deduction is 50 % of Balance .
Why I say that because I Calculate Return to Support who sent that thing is withdrawn .
I calculated that deducting money was supposed to be this way.
- Deposits of LR / 2.
- 30% deposit bonus .

So total will be deducted from the Current Balance is this much.
Sample as well as round numbers .
- Deposits of LR 10000 Cent USD / 2 = 5000 Cent USD.
- Bonus 30% = 3000 Cent USD.
Overall, it was a broken 8000 Cent USD.
Assuming Current Balance = 22000 Cent USD.
Included must be returned = 22000 - 8000 = 14000 Cent USD.

Why not be the worst thing is this.
(Balance - 30% Bonus) / 2 = 9500 Cent USD.

But the response of the Instaforex is that the calculation of Bolingbrook is.
(Balance / 2) - (30% Bonus).
So from the example of Balance = 22000 Cent USD.
The remaining money is withdrawn 22000/2 - 3000 = 8000 Cent USD.

What is it?
 
Anupong Chanchartreerat,
, Thailand,
Dec 23, 2013,
Guest

Hello, My trading account is 7145482 with instaforex. I was doing good tradings and i got some good profit. But when i sent the withdrawal date 12/09/2013. I also do not get withdrawals.I tried to contact them but The answer is to wait for the processing, which is a long time.They say We can't say exactly, as technical issue is exist at present time.I was cheated.
 
wajid,
karachi, Pakistan,
Dec 20, 2013,
Guest

Hello, My trading account is 2224537 with insta forex. i was doing good tradings and i got some good profit. but when i sent the withdrawal request then they cancelled it and deduct my profit from my account then again i sent the request for withdrawal but again they cancelled it and remove the rebates from my account. Now they are saying that we can exclude any customer on any reason but they are not giving me the reason. please FPA, check it.

Review Moderation Team Note: The FPA found instaforex to be a scam in 2008.
 
vivek visale,
nasik, India,
Dec 18, 2013,
Guest

I would like to change the ratings of instaforex from bad to good, as it is that i did not knew their terms and conditions, instaforex does not like it if we close the trade within 5 minute (they have said about it in terms & conditions page), rest of all, the company is good.

2013-03-18 1 Star this is regarding to the previos submitted review

this is the email proof that they sent to me

Dear Client,

The total result of the orders with a less than 5-minute interval between opening and closing was cancelled with commentary
"CANCEL ERROR ORDERS" in accordance with paragraph 3.14.6 of the Public Offer Agreement:

3.14.6. The Customer agrees to undergo a supplementary expert examination of the trading account, if it has been revealed that the
trading methods of the Customer include opening and closing/opening lock positions with a less than 5-minute interval between them. In
accord to the results of the supplementary examination the Company reserves the right to correct the outcome of the Customer's trading by
the sum total of such orders.

The bonus was cancelled according to paragraph 8 of the Agreement on the 30% Bonus receipt:
8. The Company reserves the right to cancel bonus without prior warning, so we strongly recommend not to use bonus funds in calculation
of profit in your trading strategy. The Company is not responsible for any consequences of bonus's cancellation, including Stop Out, because
bonus is the ownership of the Company until trader works it out by opening deals of total volume specified in the point 7 of the present Offer
Agreement.


Sincerely yours,
AntiFraud Department
InstaForex Сompanies Group
http://instaforex.com

2013-03-13 1 Star I opened new INSTAFOREX EURICA account with 30% bonus, thinking that this is linked to the markets directly and there is ECN connectivity, and there is no market making in this type of account

But i was WRONG, I did some trading by guessing the news and this is called news trading, and i got profit in all the 4 trades in 3 to 4 days, so guess what this broker did?

They REMOVED all my bonus and all my PROFIT too...

Why? because it is detected as FRAUD by their anti fraud team, the customer care told me..

no reply from them from last 48 hours to my email

my quesiton is: news trading is considered fraud? its a joke by instaforex

my instaforex account number is 8038440

i can give the screenshot of the MT4 in which you can see clearly that they remove profit and bonus of mine

bonus removal is ok, its their money, but why to remove my profit?
 
Mideel,
Indonesia, Indonesia,
Dec 3, 2013,
Guest

LOL.... Do not believe all of the reviews under me as they are just frustrated bonus hunter who are full of hatred because of got blocked for trying to pull out cheating strategies and read the agreement again that they can exclude any account from bonus campaign if they detect violation or cheating strategies.

I've been in MT5 for a 2 years and before that in indo.mt5 forum for more than a year.

Believe me while some of the members got banned don't understand their fault but everything is on the agreement and they must did something.

Go to forum.MT5.com and see the payment proofs section.

Insta has helped me finish my study in my college by MT5 forum, there is no way I just stand when I see them get mocked by these frustrated bonus hunters who don't even deposit one cent.

Shame on you guys...

2013-07-23 5 Stars I'm a member of MT5 Forum and trade in Insta with bonus posting.
Every month I routinely withdraw around 100+ $ of my profit. without problem.
But in FPA Insta has been declared as scam.
This is not true because I even don't need to deposit to get extra cash on each month and a lot of old MT5 Forum member withdraw even bigger profit than mine.
So if Insta has been so nice to give 50.000 members of MT5 forum a chance to trade without risk their own moneys how can they be scams.
All I know is a lot of peoples or traders easily get frustrated when they break the rules and get punishment from Insta according to the agreement.
Like the Liberty Reserve case for example where traders onlu can withdraw 50% of their balances.
Actually if we follow the agreement Insta don't have to return anything, but because Insta feel sympathy to traders so they return 50% of their balances.
In the forum there are a lot of banned members for tried to pull out dirty tricks but Insta has antifraud team to handle this.
Take a look at forum payment proofs and you know Insta really pays.
If Insta dare to pay for bonus profit why don't they pay for traders with real deposit ?
Peoples should read the agreement again before yelling scam, scam, scam ....

The FPA recommends you do more research.
 
Michael King,
Lodz, Poland,
Nov 22, 2013,
Guest

As others have said, Instaforex are not a scam. although It would certainly seem they are a bit trigger happy when it comes to suspected 'irregularities' but even the three case histories did actually get their deposit back ( btw I don't condone IF's handling of matters but I believe it is far more a matter of zero tolerance of suspected irregularities rather than intentional scam )

There are in fact some good things about them, I was actually quite surprised. The live chat is instant and is automatically handled by an agent who will speak your language fluently.

Execution is very good and they have a vast choice of instruments to trade with, some stocks and indices offering quite reasonable spreads.

They are very big, established and regulated and don't appear to be about to disappear with everyone's money and I honestly don't believe they are set up with the intention to defraud

One very unusual thing is that you don't need any verification to open an account which in itself isn't actually very reassuring but it
can be more convenient - but whether they will pay out without verification I don't know yet. Deposit via MB was problem free however.

Also the daily account statement is both useful and professional.

What I really liked was the easy account opening and the cent account which really looks and feels like a dollar account and for $20 deposit I am now trading real money but it feels like I am winning and losing a LOT of money when in fact I am only trading cents and not dollars. so great for trading psychology? That was my plan ..

Instaforex should in theory be a great stepping stone from demo account to a fully funded live account -

in theory....

But now we get to what I consider to be the big negative -

It wasn't really helping because I was losing much more than in my demo account with Thinkforex - and that really wasnt helping my psychology at all!

Why? I thought it was the usual slippage scams

My Take Profit order seemed to be ignored and the price was reversing!

I contacted live support and he assured me TP is never ignored, its probably I am not allowing for the spread.

I checked the spread and he was right!

After that I found I kept getting stopped out well before my SL level. so I was losing trade after trade

But on investigation there were no irregularities. just spreads on forex between 12 - 20 pips on many currency pairs!!!

This is my only real grievance but its a big grievance!

So in conclusion I don't believe they are a scam nor do they use the scam tactics that most brokers use to cheat you

they simply use legitimate but extremely wide spreads making trading both tedious and in my case unprofitable

So technically I would probably award 4 stars for performance
but 1 star for the spreads

If your trades are quite long term they are probably quite an ok broker but for any kind of Intraday trading - forget it!
 
Naveed Ahmed Alizai,
Dera ismail Khan, Pakistan,
Sep 23, 2013,
Guest

They are not more than a fraud, their antifraud department is just totally fraud department, they disabled my account during trade, when i was making profit more than my investment, they captured all my profit including that one which was in process for withdrawal.
plz do something against this big big fraud.
  1 trader has found this review helpful
Ibrahim,
, Egypt,
Sep 20, 2013,
Guest

scaaaam broker , insta has just disabled my account in order not to pay me .
  1 trader has found this review helpful
Arsalan tahir,
punjab, Pakistan,
Sep 13, 2013,
Guest

insta forex is totally scam broker so i suggest you don't waste you time and money for today proof check this it's happened with me today when i withdraw my profit from my investment ..


http://oi43.tinypic.com/20gd6dy.jpg


http://oi43.tinypic.com/20keuwz.jpg

http://oi40.tinypic.com/iw3bqu.jpg
 
Sylvester Augustine,
Johannesburg, South Africa,
Sep 7, 2013,
Guest

Wow, wow, wow ........ talk about "gut feel". I was sooooo impressed with their website & numerous awards that I opened an account with them TODAY. They just looked so so so squeaky clean that something deep inside of me said "well what do I have to lose by checking them out on FPA before I transfer funds. It's just a quick formality and will just take me a few more minutes anyway." Man was I flabbergasted when I logged into FPA and saw SCAM. Then I read the first dozen comments and I just thanked God for directing me to the FPA site. Thank you ALL who have placed comments and saved me heartache. I've already ENOUGH of pain with the SHARKS AT FXGM. Stay away from these swines. cum of the earth bastards!!!!
 
June,
Surabaya, Indonesia,
Aug 29, 2013,
Guest

Please be careful of this broker. better take your money elsewhere because they have so many restricted rules in trading. I don't have to explain more you can just read other reviewers (scalping, news trading, etc) not to mention hard times getting your money back.
  1 trader has found this review helpful
sabir arshaf,
Islamabad, Pakistan,
Aug 26, 2013,
Guest

this is a scam company i had 252 dollars in my account and i made 210 profits last week and i requested them for withdrawal they disabled my account and their anti-fraud department isnt replying, they just told me company has right to disable any account and hold all payment and profit made on it, can anyone help me in getting my money back? Is there any way to get the money back? please help
  1 trader has found this review helpful
dami,
bekasi, Indonesia,
Aug 17, 2013,
Guest

sick broker......include their IB

this broker work with ib from indonesia to steal money from new client. STAY AWAY....
  1 trader has found this review helpful
sami ,
sindh, Pakistan,
Aug 11, 2013,
Guest

i open the account in instaforex scam broker some month before and make some profit then i send the request for withdraw my profit they block my all profit i worked hard and they waste my deposit and time pleas i request to my dear friend don,t waste your time in scam broker
  1 trader has found this review helpful
Mokbul,
Dhaka, Bangladesh,
Aug 3, 2013,
Guest

I have deposited dollar by Liberty reserve and after closing liberty they are saying they will pay my half of deposit money after november. I cant withdraw any money now and i will also get my half deposit money.what a Scam Broker plz stay out from this stupid otherwise you will cry one day. They advertise with lots of dream of cars, home , luxary life all are marketing policy only.they are getting new clients by providing small money to forum members later they steal money from them...i am passing now worry now..SAD :(
 
sonia,
london, United Kingdom,
Jul 28, 2013,
Guest

Hi
Instaforex process my request and send money to my moneybookers account after 45 days.
thanks
 
Alexandra,
Tbilisi, Georgia,
Jul 17, 2013,
Guest

Instaforex continues scamming people,they are not withdrawing clients money on their accounts,at firs they removed my 141$ from my account,then asking to submit documents and after submission they block account and you will never see your money.

i was asking FOR HELP AND ATTENTION FROM THEM BUT NO ONE CAME FOR HELP,I SENT THEM EVEN NOTARIAL SIGNED DOCUMENTS BUT THEN THEY BLOCKED ACCOUNT!!!

For start they said that this happens because of Liberty Reserve closing BUT I use skrill,PayPal - anyway they act like don't here any voice or problem!

Their Russian support disappeared,also support don't uses names any more + last years contacting support was easier now I think they have fired big part of staff and step by step they are getting to declare "bankruptcy" and eat peoples money!

Insta Forex's history is finished!
1 more broker will stay in Past!
Just the question is: how much this will cost for people?!
SO WHEN YOU SEE THIS MESSAGE RE-SHARE AND SHOW IT TO EVERYONE DON'T LET THEM TO STEAL PEOPLES MONEY!!!!
 
waterboy,
, Malaysia,
Jun 19, 2013,
Guest

My withdrawal was not sent. I request for withdrawal on June 12th.
 

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.