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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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

VIlnius, Lithuania,
Dec 12, 2015,
Registered user

I deposited 60 € in this broker and after few months tried to withdraw it. That funds was in pending process for a week and after that they just disappeared and in my balance left 0.1 € That can't tell me where they are, nobody knows...
  1 trader has found this review helpful
Dublin, Ireland,
Nov 24, 2015,
Registered user

InstaForex is probably the most questionable broker on the net. I write because I had an account with them what was the bigger mistake in my trading history, but peoples learn hard way!

InstaForex:

They provide deposit from 1 USD, swap-free account to everyones, and 3 pips in major currencies without additional fees/commissions.
Their customer service is rude, platform via web and also via MT4 and MT5 very slow and prices what they provide differ at least 4-5 pips all the time from the real market prices (at some news releases with 40-50 pips (!) for 1-2 min)
InstaForex gladly use price re-quote if market gonna with you, or if you have placed an order (buy/sell stop/limit) they usually execute it at another price what is better for them.
No doubt you will be robbed if you trading with InstaForex, however money withdrawal working slowly and only with small amounts, above 3000 USD you will never see your money/profit, you can be sure!
Above 10% profit per transaction of your initial deposit InstaForex cancel immediately your profit and scalping is although allowed in clients agreement but really no, because also all profit what you make with scalping below 5 min time period gonna be canceled by AntiFraud department and if you place a withdrawal request that will be canceled as well by reason that you tried to cheat the company before.

Why they can do that all?

--> because InstaForex is a non-regulated online broker company, who do everything by itself

Why can be InstaForex since 2007 on the market?

--> InstaForex try to get new clients all the time with promises like "you can win Porsche car" or "you can win 5000 USD daily in the competition" ..etc. and focus to get newby clients who will deposit in the beginning a small amounts and can get a commission when they attract their friends. If no attracting and you begin to make a profit they begin to cheat you and do everything against your profitability.

Conclusion:

A V O I D InstaForex, but if at all cost you wanna try and trading with InstaForex be very-very careful, deposit only small amount, trade only with small amount, and put request to withdrawal only small amounts otherwise you will be cheated and robbed very quickly.
  1 trader has found this review helpful
Hamburg, Germany (Really InstaForex, Peru),
Nov 5, 2015,
Registered user

I don't consider InstaForex as a scam. On the contrary, since I became its client, I could trade in forex market with just $1. Now, I have different accounts, all of them with a good amount of earnings.Customer client is great, very pending of me and my process as a trader.

Review Moderation Team Note: 5 Star rating removed. Of course this reviewer doesn't consider InstaForex to be a scam. That's because her salary is paid by InstaForex.

This is the second fake review left from the same location that "InstaForex Stephanie" registered an FPA Forums account from. She used her instaforex.com email address to register the account. In the first fake client review she left, Stephanie claimed to be "ZackFx, Madrid, Spain".

Per FPA policy, the rating on this review has been set to Zero stars.

The FPA does not appreciate review spammers.
 
Shaon,
Jessore, Bangladesh,
Oct 28, 2015,
Guest

Vary bad brokr. Don't open trading account at instaforex. Very high speard and need long time for withdraw!

2015-10-26 1Star instaforex is a bad broker. Very high spread and withdraw fee. And they are Big market maker.
  1 trader has found this review helpful
david rom,
pt, Israel,
Mar 24, 2015,
Guest

my account number is 5316464, my name is david rom


in 8.01.2015 i had a few positions on the chy/jpy and after the shake on the
swiss franc my positions was profitble.(+~ 3700 euro)
after a few days i noticed that the profits that i was gain on the chf/jpy was deducted from my account, in a claim that according to the agreement this is not a fare profits, and i do not have the right to keep that profit
.i am a profetional trader and im trading for a living
  1 trader has found this review helpful
Siti Zubaidah Mohamed Yusof,
Kuala Lumpur, Malaysia,
Feb 14, 2015,
Guest

Instaforex block permenently my account with the stupid reason..

The account was excluded from no deposit bonus campaign in accordance with the "No Deposit Bonus Agreement":

10. The client agrees that in the event the company suspects any fraud activity involving the bonus, the latter can be declared void and the trading result can be annulled.

The account was deposited using bonus funds only so it was blocked permanently

They want trader money, scam, cheating us..but when we get the profit simply their suspect trader do the fraud activity..
 
onaiyekan peter o.,
zaria, Nigeria,
Jan 23, 2015,
Guest

On the 20th of this month i placed buy orders with sell stop orders for hedging my trades but the sell stop trades were deleted at the point of execution. This led to my account losing $2227.96, leaving behind a meagre $32. I have tried to check the reason for the cancellation, and have contacted them on 3 occasions. The first time (on the 21st january 2015) I was told I didn't have enough money in the account, but after I sent them a screenshot of my transactions (the third time), they refused to reply me. When I placed the trades my equity and free margin were about $1000. Avoid trading with them, because they can manipulate your trade without blinking an eye, even if it wipes out your account.
 
8344534,
Shah rukny alam, Pakistan,
Jan 19, 2015,
Guest

insta forex ban my account with out any reason they ban account with out any reason and told us only this mail to anit fraud and they told your account was ban beause you are forum member now tell me bonus if you give me what i not do posting there i work full month then you give us bonus fraud insta is fraud.
 
tana,
, Tajikistan (Really the offices of InstaForex in Russia),
Jan 15, 2015,
Registered user

Fake complaint from an InstaForex employee.

bad ..... very very bad broker, I think, but I can wrong,,,,,,,,,,,,,,,,,,,
 
Forex Peace Army
Review moderation team note
2 Star rating removed.

This negative review for 1LotSTP came from the offices of InstaForex in Russia.

The FPA is disappointed, but not surprised that the scammers at InstaForex would try to use the FPA's reviews to attack another broker, even a scam rated broker.

Per FPA policy, the rating on this review has been set to Zero stars and the review has been moved to InstaForex's review page.


Hamza Najam,
, Pakistan,
Dec 23, 2014,
Guest

I ready a comment stating that all account blocked are of forum and like that, i want to reply to those who state real accounts are not blocked, i havent traded with instaforex from last 2 years, but was just working as IB, last night my account has been blocked and i had around 300 active clients, making 500 dollars of commission on daily basis, last night they blocked me i had 3000 dollars in account, i challenge them to come and face me, under what clause they deactivated my account? and if they claim any of my client did wrong, then what the hell one has to do with my commission, lastly there cannot be any sort of fraud in commission earned. forex industry is almost full of scammers, havent found any good broker so far other than 1 only

2013-09-12 1Star they are scam, they took away my 352 dollars and they are not replying their live chat ask me to contact their anticheat department, which never reply after i asked them to tell me account which i used to move the bonus, and its over 5 weeks they are not replying, fake company, never deposit a penny, their site is good their support is only good till the time you dont for withdrawal
 

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.