InstaForex is a Russia-based broker and has customers from many different countries. The company started operating in 2007 and has been focusing on online trading services ever since. It is a popular broker in countries such as Russia, South America, Ukraine, Kazakhstan, and site traffic is quite high. With its full name, Instant Trading Ltd. provides service to very wide geography. Another version of the company, Instant Trading Eu Ltd. It serves in Europe.
Using InstaForex, you can trade with many assets such as binary options, cryptocurrencies, CFDs, forex, indices, and metals. Although the product range is not incredibly wide, it is sufficient for most customers. It is also an alternative to reducing wanted payments for broker services. Because payments are generally low. In this broker, the minimum deposit fee is $ 1. But when you deposit via wire transfer, the minimum deposit rises to $ 300.
InstaForex charges some non-trading fees like other competitors. There are withdrawal and inactivity fees but no deposit fees. In addition, there is no commission on standard and Islamic accounts. In addition, there is no direct phone support when you want to contact the company, instead, it works with the callback system.
Is InstaForex Regulated? Is It Safe?
Two authorities regulate the company:
- The Cyprus Securities and Exchange Commission (CySEC)
- The BVI Financial Services Commission (FSC)
The company has two versions. Instant Trading Ltd. is regulated by The BVI Financial Services Commission. Instant Trading Eu Ltd. is regulated by The Cyprus Securities and Exchange Commission. CySEC is a moderately reliable regulatory authority.
In addition, InstaForex also provides its customers with negative balance protection services. This prevents you from losing more money than in your account. The company is also registered with the Investor Compensation Fund. This means that if the company goes bankrupt, customers can receive up to €20,000 in compensation.