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Updated: Feb 17, 2020
1.516 · 187 REVIEWS
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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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InstaForex is a forex broker. Insta Forex offers the MT4 and MT5 trading currency platforms.,offers over 50 currency pairs, cryptocurrencies, shares, gold and cfds for your personal investment and trading options.

Broker Details

Minimum Trade Size:0.01
Maximum Leverage:1000:1
Minimum to Open Live:$1
Address:Kalingrad, Russia, +443300109336
Regional offices:
Regulators: BVI FSC #SIBA/L/14/1082
Prohibited countries:
Trading platforms:MT4, MT5, WebTrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Cryptocurrencies:(5+) Bitcoin, Litecoin, Ethereum
CFD:(130+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: 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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1.516 · 187 REVIEWS
Forex Peace Army

Let other traders know if this service is worth checking or should be avoided.

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Consumer Reviews

Kuaa lumpur, Malaysia,
Nov 18, 2019,
Registered user

Instaforex took my profit 8.5k

Service use: Live

Length of use: 3-6 Months

InstaForex took my profit 8.5k. They claimed that the profit 8.5k was made from 900usd usd bonus given during my initial deposit 3k usd.
They took my profit clause 11. Fyi, my fund manager did not inform about clause 11 impact if i took 30% bonus.

Instaforex is an unethical company.
Mohamed Salem,
cairo, Egypt,
Oct 11, 2019,

be ware

Service use: Other

Length of use: 0-3 Months

I entered into their one day contest with leverage 1:500 and made about 20 successful trades so they calculated my profits according to 1:10 leverage, I sent them a polite email to their as I was told and their answer was they don't see ant technical mistake and I shall check again.
Japan, Japan,
Sep 21, 2019,
Registered user

The worst scam company ever

Service use: Live

Length of use: 0-3 Months

My son committed suicide because of instaforex.

They were confiscated illegally for his son's profit of $ 7000.

My son was recording all $ 7000 transactions.

I requested payment by September 26th.

If instaforex does not pay, i will sue instaforex yes.

If you are not paid, write your email address here.

People who were in the same damage!

Let's fight together.
Dhaka, Bangladesh,
Jul 14, 2019,
Registered user

They didn't give My own net Profit 5,600$.

Service use: Live

Length of use: over 1 Year

In the InstaForex organised "Bangla Forex Forum" I'm Abdullah Al Mamun made a real trade with bonus funds every month in exchange for a regular post, and in my three real trading accounts, I had a good profit. 1558731, with the bonus fund, I had profiled $ 5,600 net profit, but when I asked to withdraw just $ 111 profit from $ 5600 profit Only then, their Antifraud department blocked my account with all profits. They gave me a reason to stop blocking my accounts - “Verified with Fake documents of my account”. When I started trading in that 1558731 account, that account was fully verified by their Verification Department by those documents.I want to know them through You the account 1558731 was Verified but They did not block my account when I was Trading there,when I was Profiting there,They didn’t blocked & tell me the Documents was fake, and why? But whenever I wanted to withdraw some profits, why did They block my Verified 1558731 account with Profit ? Why would the Antifraud department block my account and tell my documents to be fake even after their Verification Department has fully reciprocated with my documents? Then did their Verification Department verify with my fake the documents? In this way my three- 1558731,7617075,15119929 accounts have Blocked their Antifraud department with a lot of profits.I told them that if I upload my new smart card and bank statement copy, they will start those profitable accounts unblock ? They did not give any solution to me. Their Verification Department Verified My Account with the same Documents but Their Antifraud Department said This Documents Fake & also Permanently Blocked My Profitable Accounts !!!

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  3 traders have found this review helpful
dhaka, Bangladesh,
Jun 14, 2019,

Not possible withdraw by local ib

Service use: Live

Length of use: 0-3 Months

I am form bangladesh . here local ib is fraud . not possible to withdraw by local ib.

i did contact with main office they are not care me ..
  2 traders have found this review helpful
muhammad razif,
kuala lumpur, Malaysia,
May 25, 2019,

for ccy trade is ok, but for indice trade is disable for a reason of technical problem that wasted my time as a trader. if your broker dont have a liquidity just dont offer that indice pair that you are wasting a time of traders like me. your reason for a technical problem is not acceptable
  1 trader has found this review helpful
Lagis, Nigeria,
May 17, 2019,
Registered user


Well so far so good I joined Instaforex since 2014, I started with $500,i grew it to $1100,when I placed a withdrawal for $500 they sent the money within the stipulated time..this was 2014,but I don't know how good they are now because I've not made any profit since then.. Their server, customer care, spread are OK..
Yaounde, Cameroon,
Apr 27, 2019,
Registered user

They deducted my 55.07$ with the pretext that the money was made with their star up bonus mean while the profit made with their bonus amounting to 155

Honestly, I have work with a series of brokers but I want to say that instaforex looks a group of scammers who come together to scam its customers. What they call 1000$ no deposit bonus is the business plan for their scam game. First, they put in the clause 11 that you need to make 390lots before you can withdraw the bonus profit, what I did is that I managed the 1000$ carefully and made 390 lots and the 10% profit. When I deposited my 100$ and requested the bonus withdrawal, they told me that the 390 lots were to made after you deposit the 100$. There is no where that such a thing is stated in the agreement. Now I traded with the start bonus of 130$ + my 100$, made a total amount of 505$, tried to withdraw, they cancelled the bonuses amounting to 130$ and still rejected my withdrawal that I could not withdrawal part of the profit worked with bonuses. I then requested to withdraw my own deposit and the profit made with my money, the amount 219$ was deducted immediately after the request. The balance of 155$ which is the profit made from their bonuses remained in my account. I then tried to trade with the balance to see if I could make the 390 lots, but loss the 150$. 5 days after when I was expecting the 219$ to appear in my skrill account, they wrote to me saying that they are deducting 55.07$ as their bonus profit. Which means they sent back the 219$ to my account imaginarily before processing the withdrawal. This was 5 days after the amount was deducted from account. They have since deducted the 55.07$ and I decided to withdraw what they decided to give me. Can some one who is more experience in forex business tell me if this is right. I should recall that I had loss 100$ in another instaforex account earlier in trying to make 390 lots
  1 trader has found this review helpful
Flic en flac, Mauritius,
Apr 12, 2019,
Registered user

This is a terrible broker

They are a terrible broker. they stole my money. I have contacted customer care but they have just been taking round and round. This is the worst broker i have done business with in my whole trading career.
  1 trader has found this review helpful
Mar 16, 2019,
Registered user


I made USD 1600,00 with they no deposit bonus, then when I withdrawal my money, they refuse, telling me that I have to deposit some money to withdrawal. So why the hell I have to deposit and after withdrawal ? Scammers, stay away from them.
  1 trader has found this review helpful
Jan 28, 2019,
Registered user

Using their PAMM service buyt clients can't withdraw money (no bonuses involved)

I've used Instaforex since 2017 Nov and under my PAMM account I've clients who placed money with them. Recently some clients tried withdrawing money and started encountering problems (Some withdrawals listed as processed but never received, some withdrawn US$2k but obly US$800+ received) . Peter from Kubin, Slovakia below if you think I'm a looser who is pissed off... you are 1/2 right because I'm pissed but not looser. You can check
  1 trader has found this review helpful
Kubin, Slovakia,
Nov 30, 2018,

Very good

Instaforex is good and big broker. I was trading with tham 6 years as beginner in contests. I won many contests and they gived all promissed money to my accouns, they paid always all money i made and i never found one not perfect thing in this company. They have perfect support, they repair, explain everything perfectly. Now i trade with money from my investors and they pay all money with no problem fast and correctly. I thing bad comments are giving only loosers which are pissed off for not making profit. Ty. Machomalo
  1 trader has found this review helpful
Forex Peace Army
Review moderation team note
You should read the reviews more carefully before insulting other reviewers.  The people you call "loosers" who could not withdraw their money might think you are nothing but a freelancer hired to post a fake positive review.
Bangladesh, Bangladesh,
Nov 21, 2018,

never deposit on this broker

I was withdraw 57 USD and i was make profit 86 usd. but they don't give my profit. i was able to withdraw only 52 usd. they was cancel my profit.
  1 trader has found this review helpful
United Kingdom,
Nov 9, 2018,
Registered user

Scam alert

Wow seriously bad! None of the platforms work or at least they do not close trades when requested. Whenever this happens with a broker it is an alarm bell to dodgy practices. Im not talking about 1 request I'm talking about 5 or more requests to close a trade. Maybe using mt4 no problem I don't know but webtrader and mobile app no success many times over.

No serious trader can operate in this environment. I spent ages with this bonus account then traded up to $3000 with ease real money. But this repeated no quotes and not being able to close a losing trade. Wow seriously scam alert man don't deal with this. Be wise and avoid!!

I still cannot understand why any broker would not want to facilitate their traders to do well. It is very sad indeed.
Sep 25, 2018,
Registered user


recently i deposited a very small amount, 20$, which of course is nothing in the real world and gained about 400%, the account value before withdrawl requested has been 120$ and abit.

However, there were some weird things. A staff told me i cant withdrawl with the same method i deposited, but when i requested the withdrawl, it got rejected and i was asked to actually use the same method.

The account was not verified at all - No documents provided, just nothing and today they actually send me the funds to my neteller account. It took a little bit longer than the promised 1-7 hours, in fact a little bit over 24 hours, but still... so many bad reviews here....

Anyway, indeed it doesnt make sense for them to cause trouble on small amounts like that. However... Even tho the withdrawl worked just fine, their quoting is horrible, beside their deceptive non - spread account. There no such thing as cost per lot, but actually cost per pip which just equals exactly the actual high spreads of min 3 pips on EUR / USD. While executing orders, every single trade got requoted when i tried to open a position, but also, when i tried to close one. In average it took me 5-6 requotes to get an order into the market, but also out of the market, which indeed can cause huge differences in profit taking, but also taking losses and thats a PURE NO GO.

Withdrawl wise i had no trouble, but their deceptive account models and the constisant requoting at any time is more than suspicious and therefore i cant recommend InstaForex.
sabah, Malaysia,
Aug 6, 2018,


This is the hardest broker to deal with compared to any other broker. Yet they claimed to be number 1. From registration hustle, withdrawal, account hustle, trade hustle, everything is legging.

Just go to other broker. this broker is full of shit.
Jul 25, 2018,

100% scam, beware

100% Scam. As long as you are losing money, everything will seem fine, almost too good to be true. As soon as you make any kind of decent profit or even recoup a substantial amount of your previous losses, they will make excuses and simply remove your profits.

They'll cite clauses in the agreement that say they can do this when there are "technical errors". These "technical errors" will only come into play when you make a profit, then the profits will be taken away, if you lose money due to these errors they will never give back those losses.

There's nothing you can do to prevent these "technical errors" from affecting you since you don't even know they are present until after your profits have been taken away.

Basically it's like going to a casino where you make a bet on roulette, and if any number you didn't choose comes up, you lose, and when the number you chose comes up, the casino says there were "technical errors" and gives you your original bet back, but takes away the profits.
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, 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.
Jul 11, 2018,

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.
Lahore, Pakistan,
Jul 3, 2018,

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
Bulawayo, Zimbabwe,
Jun 19, 2018,

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!
May 7, 2018,

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.
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.

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