InstaForex
Insta Forex: A Review
| Broker | Broker Details | Spread | Min Deposit | Max Leverage (p.a.) | Min Trade Size | Pairs | |
|---|---|---|---|---|---|---|---|
 InstaForex |
Join InstaForex and receive 30% bonus for every deposit | 3-7 | $10 | 1:1000 | $10,000 | 109 |   |
Insta Forex is a Russian based Forex broker that is part of the Insta Forex Companies Group, a financial services and investment group with offices all over the world. Their client base is comprised of more than 140,000 professional and retail traders from more than fifty countries.
Insta Forex makes trading an enjoyable experience by providing access to the best and most advanced tools, more than 100 currencies, over 30 CFD contracts as well as gold trading. They also offer ECN services for large volume traders.
Insta Forex: Accounts, Spreads, Deposits and More
Insta Forex provides traders the opportunity to open different types of accounts based on the level of their trading experience and their needs. For example, the Insta Standard account and is designed for all traders. This type of account is split into micro trading which requires a minimum deposit of 10 USD, mini trading with a 100 USD minimum deposit and a standard version that requires a 1,000 USD deposit. Spreads range from 3 to 7 pips.
Things get more interesting and deviate from the accounts offered by other brokers with the Insta Eurica trading accounts. This is because these accounts function on commissions rather than spreads meaning that each trade is charged a commission, ranging between 0.03% and 0.07% of the transaction volume, but the bid and ask price are identical.
The advantage to paying a fixed fee versus a spread is that traders will be unaffected by widening of spreads during certain times and when the market becomes volatile, which is a very common occurrence with some brokers. In fact, traders who trade the news will find the fixed commission no spread model ideal since spreads usually widen considerably during news releases and many traders lose much of their profit because of this.
The Cent Standard and Cent Eurica accounts are designed for novice traders as they offer traders the chance to place very small trades, starting at 0.0001 of a standard lot size. Apart from the lot size and a maximum deposit of 1,000 USD, these two accounts offer the same features as the Insta Standard and Insta Eurica counterparts.
Insta Forex also offers demo accounts so that beginners can get their feet wet or for traders to test new systems they might want to implement but prefer not to risk it on a live account.
Leverage is flexible with a maximum of 1:1000. This is probably the highest leverage anywhere but the ability to choose your own level of risk is invaluable. For example, intraday traders might prefer a higher degree of leverage which will allow them to maximize their profits while reducing their risk by staying in a trade less, while long term traders who prefer to hold on to their position for a significant length of time will prefer to manage their risk by opting for less leverage.
Funding your account with Insta Forex couldn’t be easier as they accept a wide range of payment systems. From credit cards, bank transfers, Webmoney, Moneybookers and many more, making a deposit or withdrawing funds couldn’t be easier.
Accounts also receive a 13% annual interest rate on the unused balance which is Insta Forex’s way of helping protect their clients against inflation. The interest is paid on a regular basis at the end of every month.
