Review of Instaforex (2.8)

In this review, we take a look at Instaforex.

They are a very popular broker in Eastern Europe – especially in Russia and the old Soviet states. They are very strong at marketing and use a variety of aggressive bonuses and offers. As the name suggests, they offer trading in forex, but also offer CFDs to their customers.


In the review, we evaluate them on the following parameters:

  • Security
  • Product selection
  • Trading platforms
  • Trading costs
  • Charting package
  • Customer service
  • Demo account
  • Bonuses

About Instaforex

Instaforex is an international broker, who focus mostly on the Asian continent as well as the old Soviet states and Russia. Their headquarters are located in Kaliningrad, where they were founded in 2007.

We had to dig deep to find out where and who regulates them, but it turned out they are not regulated at all and also have no license.

In general, they do not run with a negative account balance. It is therefore not possible to lose more than you have deposited and thus end up owning Instaforex money.

Security at Instaforex

By default, the customer’s money is not separated from their own funds. However, you can apply for this, but you must deposit $ 50,000 as a minimum to be allowed to apply for this. There are some other complicated rules if you want to make use of this service.

As mentioned above, they are not regulated and do not have any license. This means that none of your money is guaranteed at all and that you are not guaranteed anything in case of bankruptcy. This, of course, draws very much down in our review.

Product range at Instaforex

Instaforex focus mostly on currency trading. However, it is also possible to trade stock indices and commodities.

Here’s what they offer:

  • Shares (few large shares)
  • Commodities
  • Forex
  • Stock indices
  • Bitcoin
  • Options
  • Bonds
  • Futures

They offer the usual markets and the need should be met for most traders. However, it would be a plus if they could offer more shares than just the very largest.

Trading platforms at Instaforex

They do not have an independent trading platform, which is web-based, but offer their customers Metatrader 4 and 5.

Metatrader 4 and 5 are quite excellent platforms that are very flexible and user-friendly. Here you can build algorithms and your own indicators, etc.

However, the language of the platform is in English. For us to give top marks to the trading platform, there must also be an opportunity to choose Danish as a language on the platform.

Trading costs at Instaforex

Spreads are actually quite high with them. However, they are fixed, which weighs up slightly for the high costs. Here are spreads in the most popular markets:

  • DAX: 3 points
  • Dow Jones: 3 points
  • EURUSD: 3 points
  • EURGBP: 3 points
  • AUDJPY: 10 points
  • USDJPY: 3 points
  • GBPUSD: 3 points
  • Gold: 6 points

As you can see from the list, their spreads are very high. Significantly higher than the competing platforms we have previously reported. It’s a big minus as trading costs should be as low as possible.

The charting package as a work tool

As mentioned above, Instaforex only offers MT4 and MT5 as platforms. We do not want to go through all the features and features of them as we plan to write an independent article about these platforms. We think, however, that the charting package in MT4 and MT5 is very nice and highly recommended. The only thing that draws down is the design, which is said to be quite outdated.

Customer service at Instaforex

It may be that Instaforex is not regulated, does not have license and expensive spreads, but their customer service is in the top. It is possible to call them 24/7 and contact them via online chat. It’s great that they are available around the clock. It is definitely a big plus.

Demo account at Instaforex

Instaforex offers – like most brokers – a demo account to their users. It is not time restricted, which is positive. It’s always a good idea not to disclose your phone number when creating a demo account, as you may experience being kidded with different offers.

Instaforex offers bonuses

They are quite aggressive on offering bonuses, which are a major part of their marketing strategy. They have six different kinds of bonuses, but there must be a good deal of trading volume to get them realized. Basically, we do not see bonuses as a positive thing. Often, they are brokers who offer bonuses that have a bad product, high prices and therefore need to offer Greek gifts.

Overall rating of Instaforex 

  • Security – 1 point
  • Product range – 3.5 points
  • Trading platform – 1.5 points
  • Trading costs – 1 point
  • Charting package – 4 points
  • Customer service – 5 points.
  • Demo account – 5 points.
  • Bonus – 1 point.

Overall Rating: 2.8 out of 5


We cannot recommend Instaforex as a broker. Firstly, security is not okay, secondly, their trading costs are incredibly high. Thirdly, they only offer MT4 and MT5 as platforms.


>> You can sign up for InstaForex here <<

Disclaimer: We do not receive any payment for this review. All ratings and attitudes in this article are as objective as possible and are not produced in collaboration with Instaforex. Instaforex is neither advertiser nor sponsor at If you sign up for the Instaforex trading platform through the above affiliate link, the writer will receive a smaller commission from Instaforex as part of their affiliate program.

Comments to the review

What are your experiences with Instaforex?

We are of course interested to hear comments from existing and previous customers of Instaforex.


Gustav Mejlvang

Gustav Mejlvang is experienced day trader particular interested in trading algorithms, strategy development and software.

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