InstaForex.com Review Visit site

Updated: May 26, 2020
Instant Trading EU Ltd
SCAM
1.495 · 190 REVIEWS
Is this your company?
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.

About InstaForex.com

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.com

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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Consumer Reviews

YOYO,
JAKARTA, Indonesia,
Dec 7, 2011,
Guest

Perhaps, this is usefull for client ifx sending complaint to "Russian Association of Financial Market Members " / ( RAFMM ).
 
Muhammad Ishaq,
KPK, Pakistan,
May 10, 2014,
Guest

Hi sir may real account is banned in insta forex why not conform sir please help me i am very poor man i am mange in some dollar and invest in insta forex
 
Srecko Maduna,
Croatia,
Dec 20, 2010,
Guest

Instaforex is the best broker.I not have any problem with deposit , withdraw or trade.Also I work like introducing broker with instaforex and not have any problem receive comission, infact withdraw comission is instant

Review Moderation Team Note: 5 Star rating removed. IBs have a vested financial interest in a company.
 
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.
 
muhammad razif,
kuala lumpur, Malaysia,
May 25, 2019,
Guest

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
KHK,
, Malaysia,
Jan 7, 2013,
Guest

Instaforex – beware margin account is not protected and you can lose above your account balance

Is this irresponsibility and a breach of the contractual agreement and the licence agreement?

Dear Fellow Traders
________________________________________________________________________________

Background – on 2 Jan’13 00:29, I have 3 open sell transactions (GBPUSD) in my account. A withdrawal of US150x was then made and the bonus amount of US$39x was deducted. They were recognized by the System and both amounts were deducted from the account balance. After the withdrawal, there was still enough equity margins and no other transactions could be made as the System was shut down for the holidays. The System was reactivated sometime around 2 Jan’13 09:00 and the 3 sell transactions were stopped out resulting in a loss of US$39x. The earlier withdrawal of US$150x (bonus excluded) were added back and my account balance is now reduced to US$111x. Separately, if the withdrawals had not been accepted by the System, the open transactions would not have been stopped out and the net position would be in profits as the price subsequently dropped.
_________________________________________________________________________________

I just encountered a situation where my open trades were not closed by broker’s MT4 system resulting in a loss which is above my account balance. As a result, my margins for these trades (US$12x) were also wiped off and my resultant net account balance is US$39x negative.

The broker’s office was closed from 31 Dec’12 8pm (UTC + 2) to 1 Jan’13. It was only reopened for business on 2 Jan’13, 9 am (UTC + 2). By then the price had moved significantly and that’s when the above open transactions were closed at losses after wiping off the margin. Due to the negative balance of US$39x, my withdrawal earlier in the day was held back and used to compensate the US$39x loss.

Isn’t the broker aware that the Asian market is in session earlier. Is it fair for the broker to pass on the risk to the traders just because the broker shuts down its system for the holidays. Now who should bear the risk and loss incurred by us traders!

The leverage amount and maintenance of margins are fundamental requirements in forex. What’s the purpose then of determining the leverage amount and computing the `free margin’ continuously if they are not complied. These parameters once determined and set upfront are to assist the trader to manage the quantum of his trading lots in relation to the equity and some form of capital protection in the margin floats. But if the trader can lose his margin and on top of that additional losses like in my case, who should bear the responsibility!

Have contacted their support a few times and they do not acknowledge them. Their reply is:-

Broker’s Reply - According to Agreement point 3.15.5. In normal market conditions the Company guarantees, that after the closing of the last position on the account the balance and assets of 0% - 10% margin will remain, which is necessary for maintaining that last forced position closing. The Company reserves a right to recover the negative account balance of a client with the funds on the second client's account, if the balance has turned negative in the result of a strong price movement (as a rule, in cases described in the paragraph 5.9.)

The Clause above states that in normal market conditions, the Company guarantees …………… the 0%-10% margin will remain……… . What’s the meaning of `guarantee’ and in `normal market conditions’. It would defeat the purpose if they fail to ensure the 0_10% amount is maintained. Might as well don’t guarantee. Legally, the above clauses seem to contradict but the word `guarantee’ itself would take precedence and should be binding.

I say the broker has a moral and legal responsibility and should bear the losses. Would anyone like to share his views and experience. Would we be able to check with the Ministry that issues the license. I believe these should be spelt out in the license or the financial laws of the country in which the license was issued to the broker.

Note – separately, if the withdrawal (and bonus amount) had not been recognized by the System the above stop-out would not have happened. For consistency, the withdrawals (and bonus) should be added back and taken into account to determine whether there had been a stop-out. Otherwise, we have the current scenario of win lose, ie the broker wins and I lose.

Thank You
KHK
 
Zulen,
Malaysia,
Dec 31, 2009,
Guest

They closed my trades without reasons and changed everything in the acc history. GREAT in GAMES! SCAM!
 
Thiva,
KL, Malaysia,
Jan 24, 2012,
Guest

hey guys, check this out..
I get this from instaforex customer support

instaforex.com/forexpeacearmy.php

Review Moderation Team Note: How nice of InstaForex to post links to libel on their website.

They also fail to mention that InstaForex had an advertising contract with the FPA at the time the FPA Scam Investigation began. At first, they promised to cooperate and provide evidence. After they refused to provide a single piece of evidence, there was a scam finding, the ad contract was cancelled, and the FPA refunded the unused portion of the ad contract.

So, instead of blackmailing InstaForex for money, the FPA demanded that InstaForex pay money owed to traders or provide evidence to show that the money wasn't owed. InstaForex promised evidence and then gave none.

Instead of only putting scam findings against companies that don't buy ads at the FPA, the FPA cancelled an ad contract and refunded unused ad money to InstaForex.

InstaForex is a scam. The anti-FPA page on their site shows that they are also liars.

 
wansuharuzi,
Malaysia,
Jul 11, 2018,
Guest

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.
 
sohail anwar,
lahore, Pakistan,
Oct 31, 2014,
Guest

sir i have problem instaforex many time block my account or when i say unblock then they say you talking antifroud so when i send email to then they say sorry i cant unblock your account so plz tell me what i do even they dont tell me why they block my instaforex account,
 
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.
 
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!!!!
 
Ahmad Naser,
Amman, Jordan,
Sep 13, 2014,
Guest

For me instaforex is giving me prizes and i did make earn profits through this prize bonus and i did withdraw my profits and got them in the same day request my profits
instaforex is trusted broker
 
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
 
Anjas,
Indonesia,
Dec 5, 2010,
Guest

Instaforex is terrible! They erase my stoploss while the chart got reverse. I got big loss only in minutes. Beware!
 
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.
 
saifmas,
malaysia,
Jan 4, 2009,
Guest

they are really unhonest broker i ever seen.please ont waste your money for this scammer.they are really twister.
 
OKRAM,
IMPHAL,MANIPUR, India,
Apr 28, 2012,
Guest

Insta fx is almost fine to trade,but sometimes not convenient in recovering passwords.
 
John,
Sweden,
Apr 9, 2009,
Guest

Thank you, thank you, thank you - So Very Much!

As a real newbie in this game, I have carefully searched the internet, for a broker who is, at the same time honest, have tight spreads - and one who don't mind scalpers.

A week ago, I stumbled over InstaForex, who seemed to meet these criterias - moreover - they offer an accout, with no spreads at all.

After testing a few days with a demo account - with nice gains - and some loses, I decided yesterday, that I would go live with a hard earned 400$.

Eager but tired after a hard days work - and a hard nights computer looking, I uploaded my documents, and tried to transfer money from my credit card, to get started trading.
Fortunately, the transaction went wrong somehow.

Still unsuspecious, I calmed down and decided to take the slower option of wire transfer.

Well I went on making the transfer thought my bank account -
again I was more lucky than I deserve to be - due to the easter holidays, the transfer could not be made until a few days later.

I went to sleep ancious to get started making money with this phenomenal broker. And then this morning I waked up with a terrible suspicion - What if they turn out to be scammers?

After only a few minuted of searching, I came over Fores piece army - and the scamming allert.

I managed to stop my transaction of 400$ and now have a second change, to hook up with an "honest" broker - mayby with not so promissing spreads :-) Thanks to you guys!

This is what I'we learned :
Never make desicions regarding money when you are exhausted.
Do the homework and read every review you can possible find before trusting anyone on the internet

actually I did read a promissing review on a site named Top Forex brokers - but after all, it might as well have been the folks from instaForex who made the rating themselves

Kind Regards
John



 
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
 
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.
 
Islamabad, Pakistan,
Sep 1, 2017,
Registered user

SCAM by Instaforex.com. They lure the clients by offering startup bonus and referral programs and then freeze the clients account at their own will w

Instaforex.com is totally a SCAM. They set a trap by giving you a free $500 bonus and project as if you can withdraw money if you make profit out of it and trading a volume at least 3 times worth of bonus amount. However, they freeze your account if you make profit. I made more than 10% profit in a single day and the very next day they freeze my account, asking me to deposit real money. I fear the worst for the losers who will be motivated to deposit their real money with them, with no hopes to ever recover from them. I wasted my total time and effort with Instaforex.com. They are surely a SCAM.
 
Chris,
Puerto Plata, Dominican Republic,
Jan 27, 2013,
Guest

I created an account but never funded.

Since then i get at least one newsletter per day, trying to sell me some kind of bonus so i deposit.

I contacted support 4 times to cancel those newsletters, still receiving it.

Not really sure who would ever put money on a site, who behaves like an online casino. Aggressively pushing bonuses to get customers to deposit.

As Poker Pro this concept is very familiar, every Poker site or online casino does that. The goal is always the same, the client should lose their money to the house then (via Rake in Poker, or Odds in Casinos)
 
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!
 
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
 

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.