InstaForex Review

Scam!
1.383 · 199 REVIEWS

Instant Trading EU Ltd

Also instaforex.eu

Updated: Jun 23, 2022 · InstaForex.com (.org)  · Is this your company?

Forex Peace Army considers InstaForex to be a scam and recommends against depositing money with this broker. The majority of traders who left an InstaForex review gave this company the lowest 1 star rating. There have been many complaints against the broker InstaForex in the FPA's forums. At least 6 regulators have announced warnings or penalties against InstaForex.

Please read InstaForex reviews below and share live trading experiences with this broker.

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.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 1000:1
Minimum Deposit: $1
Established: 2007
Address: Kalingrad, Russia
Customer Service: support@instaforex.com, +443300109336
Regional offices:
Regulations: 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

Trading Instruments

Currencies: (110+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (130+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: ✅ Yes

Managed Accounts & Social Trading

PAMM: ✅ Yes
Deposit Methods: Bank Wire (Bank Transfer), VISA, MasterCard, Alipay, American Express, Bitcoin, Diners Club, JCB, Litecoin, Local Bank Deposits, Local Bank Transfers, PayCo, UnionPay, WeChatPay
Withdrawal Methods: Bank Wire (Bank Transfer), VISA, MasterCard, Alipay, American Express, Bitcoin, Diners Club, JCB, Litecoin, Local Bank Deposits, Local Bank Transfers, PayCo, UnionPay, WeChatPay

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Scam!
1.383 · 199 REVIEWS
Forex Peace Army
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Traders Reviews

Johannesburg, South Africa,
Jun 22, 2022,
Registered user

Instaforex won't authorize your withdrawal

Service use: Live

Length of use: 0-3 Months

If there was an option for giving no star, I would use that.
I've been having troubles regarding making a withdrawal, it's been two weeks already and every consultant tells me that my problem is being forwarded to the finance department requesting a solution ASAP. But they never come back to me they just keep quiet. Everyday I have to launch an online chat only to be told the same thing. Oh and I have to make a withdrawal using the same method I used when making a deposit (I followed the instructions) but still I get a "Request sending failed" even today. After all this I wouldn't recommend InstaForex to anyone at all.
 
São Paulo, Brazil,
May 10, 2022,
Registered user

Instaforex does not pay

Service use: Live

Length of use: over 1 Year

Stay away from Instaforex. The broker does not make payments to customers. I've been trying to make a withdrawal for 3 months and they always provide a different excuse. Now in addition to denying my withdrawal, the funds have not returned to my trading account. Now they're not even responding. Look for a reliable broker.
 
Tel aviv, Israel,
Nov 15, 2021,
Registered user

Mega Scam. Certificated scam broker. Stay away

Service use: Live

Length of use: 0-3 Months

Lost my whole money after making good profits. They started to manipulated my trades and my proven strategy just made me huge loss only because of their nasty manipulation!!! They are pure SCAM and I'm not surprised to see that they already received a SCAM tag here in FPA. Stay away They are just a scam and you will 1000% loss your money
 
Mumbai, India,
Oct 20, 2021,
Registered user

Apparently Fraudulent and Definitely Unethical Conduct

Service use: Live

Length of use: 0-3 Months

It seems some seriously fraudulent stuff is going on in Instaforex. I opened an account there and my account number was 21535061. As per Instaforex, it accepts payments through Astropay. Accordingly, i made a transaction of USD 100 on 11-Oct-2021. At the time of writing this review i.e. as on 20-Oct-2021 the funds have not been credited to my account. While inefficiencies to a certain extent are understandable, Instaforex tried to cover all tracks of this allegedly failed transaction by scandalously deleting this transaction record from transaction history (earlier it was reflecting under incomplete section of their so-called client cabinet). I am in the process of sending a separate representation to the relevant regulator on this fudging of transaction records and I would strongly advice other traders to be careful while dealing with this unethical broker.
 
MINDANAO, Philippines,
Apr 20, 2021,
Registered user

RIGGED! STAY AWAY!

Service use: Live

Length of use: 0-3 Months

RIGGED! Don't ever trust this broker. Some of my trades triggers stop loss instead of take profit. Dont be deceived by their low spreads and commissions because they will double it in withdrawal fees

If i can upload images. I can show you lot of evidences
  1 trader has found this review helpful
Rawang, Malaysia,
Jan 26, 2021,
Registered user

Withdrawal Denied, Cabinet access locked

Service use: Live

Length of use: 6-12 Months

I requested to withdraw my money on 20/1/2021 but after 2 day I found out my withdrawal was denied. Since then I can't access my account until today 26/01/2021. I am still trying to get access to my cabinet . Hopefully I can recover my account and do the withdrawal.
 
greece, Greece,
Aug 25, 2020,
Registered user

Try to withdraw ALL your money and you left empty handed!

Service use: Live

Length of use: 0-3 Months

AVOID this broker. Is not transparent, the MT4 platform is not very liquid, PAMM service has many bad traders/strategy providers but worse is the safety of your money. When trying to withdraw, they often find any excuse not to pay you back. I am trying since 17/8 to get my money and still this being constantly refused until tonight 25/8. I am fully verified and I try to withdraw with the same payment system I deposited earlier on, but is INSTAFOREX that makes it impossible for some clients like me to see their money back again. I filled a complaint with FSC in BVI and CySEC.
 
Nigeria, Nigeria,
Aug 16, 2020,
Registered user

Instaforex are the biggest scammers in the business

Service use: Live

Length of use: 3-6 Months

I deposited my money with this shit broker...my trades where always at a loss, and if it manages to show blue is just for some seconds and the market will suddenly become very slow. But when its showing red, the market begins to move very fast. I wondered what problem really was until I started placing trades simultaneously on another broker. That was when I discovered instaforex was manipulating their platform.

I later tried to withdraw my funds to no avail. Everything about them is a scam
 
Tel aviv, Israel,
Jul 23, 2020,
Registered user

Instaforex its scan. They stole my money

Service use: Live

Length of use: 6-12 Months

Its impossible to get the money out. they have excuse for every option that I tried to withdraw the money (Its Visa fault etc.)
You have been warned !!!
 
Varna, Bulgaria,
May 24, 2020,
Registered user

Bad choice

Not surprised they`re qualified as a scam. They are too pushy to their client and when the client need something from them... nothing.
  1 trader has found this review helpful

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.