Insta forex scam

His instagram & youtube channels regularly showed him with luxury cars & private jets, too.

No deposit forex bonuses

Warning: Instagram Forex Traders SCAM, insta forex scam.

Basically the “trader” will open an instagram & regularly post lots of luxurious pictures which typically includes luxury sports cars, expensive purchases & rolex watches.

Warning: instagram forex traders SCAM

Have you come across forex traders on instagram who claim that they can help you to make money, just like them?

Their profiles typically boast a luxurious lifestyle but as you’ll soon see in this blog post things are more than likely not quite as they seem.

I’ll be exposing the instagram forex traders scam & explaining how it all works.

Plus I’ll also be showing you proof that some of the “luxurious” lifestyles the forex traders boast may not actually be quite as luxurious as they make them out to be.

What is the instagram forex scam?

The instagram forex scam involves so-called forex traders setting up profiles through which they boast a luxurious lifestyle in an attempt to trick people into investing.

They use a combination of curiosity & social proof in an attempt to lure their victims.

And unfortunately, it’s pretty effective.

Basically the “trader” will open an instagram & regularly post lots of luxurious pictures which typically includes luxury sports cars, expensive purchases & rolex watches.

Then, in the users bio & on their story they will usually place links through which you’re told you can get access to help.

Allegedly, they want to help you make money just like them, and some of them claim that they’ll even do the trading for you entirely on your behalf.

Some others claim that all you need to do is copy their trades.

Either way, it sounds simple enough, right?

And all you need to do is make a small deposit with a forex broker that they recommend to you in order to get started which makes the whole thing seem pretty much risk-free.

The problem, however, is that it’s not.

The whole thing is actually just a scam & as you’ll see in the next section, any money you deposit in order to trade with you’ll likely just end up losing.

How does the instagram forex scam work?

As mentioned in the previous section of this blog post, the traders design their instagram profiles in a way to trick people into making an investment with a broker that they recommend.

They boast that they’re making hundreds or thousands per day & they claim that if you make a deposit with the broker that they recommend, they’ll help you to do the same.

However, this is where the scam lies.

What they fail to tell you is that they’re actually affiliated with the broker that they recommend to you & that they’re not really earning their money from making trades.

Instead, they’re actually earning their money from tricking people into making deposits & getting paid commissions from the brokers at their expense.

And worse, 9 times out of 10 the brokers that they recommend are unlicensed scammers, too.

So as an unsuspecting victim of the instagram forex scam you’ll make a deposit with the broker as recommended by the so-called trader, but then you’ll be left to find out after that, thing’s don’t go as promised.

Instead of the trader helping you to make profitable trades, they’ll simply block you & disappear.

They’ve earned their commission at your expense & you’ll just be left to find out that you’ve deposited money with a broker who’ll make it very difficult for you to get it back.

Of course, some traders may indeed initially actually offer assistance with the trading.

Not every instagram forex trader will immediately disappear, but you can sure as heck trust that once things start going wrong & profits start falling down they will.

It’s reported that he tricked thousands of people into joining his “copy-trade” plan, but then disappeared & deleted all traces of his profiles the moment when profits began falling.

And he’s not the only one. It’s a similar story across the board.

The truth about instagram forex traders

Despite the majority of the profiles of instagram forex traders leading you towards believing that they’re living a luxurious lifestyle, generally, that’s not really the case.

Instead, it typically seems to be a case of “fake it until you make it”.

A good example of that can be seen with a forex trader named elijah oyefeso.

Elijah boasted his wealth on instagram & claimed that he could help others to achieve similar results by having them simply copy his trades – for a fee, of course.

He gained so much attention that in 2016 channel 4 invited him to feature on their program rich kids go shopping.

From afar it seemed like he really was indeed making lots of money & he claimed that “on a bad month” he would still earn £30,000 by working just 1 hour per day.

His instagram & youtube channels regularly showed him with luxury cars & private jets, too.

However, he found himself ending up on trial for something totally separate. Apparently, he had tried to run over a friend in his car who he owed money to.

And in the trial, the judge said:

[you] portrayed yourself as a very successful trader within the financial market. Clearly this is not the case.

And his own lawyer said the following:

Oyefeso makes a number of claims about his wealth but I have seen no evidence of this … clearly, if he had this money he could have written a cheque to the victim.

So in reality, despite elijah oyefeso claiming to be earning over £30,000 per month “on a bad month”, he ended up in jail for running over a friend he owed money to, rather than paying the money.

Clearly, therefore, he was not as wealthy as he made out.

And according to various news stories, that seems to be the case for most of the forex traders who ultimately end up getting exposed.

Forex traders in the news

A few years back the instagram forex trading scam went a bit under the radar. The guardian posted an article about it, but other than that there wasn’t really much coverage.

Now, however, many news outlets have begun exposing the instagram forex trading scam (and scammers alike).

Here are some stories that have recently been featured in the news:

The FCA has also published a page outlining details on the scam, including what to do if you feel you have been scammed by an instagram forex scam.

Reporting instagram forex traders

If you’ve been scammed by an instagram forex trader yourself, know somebody who has or have a suspicion of somebody running a forex scam on instagram then I’d urge you to report them.

Furthermore, you can also feel free to leave their account username in the comments below this article & share some details about your experience.

By sharing your experience you’ll help others who have found themselves in the same situation, or others who are considering getting involved with the trading.

And for future reference, as the good old saying goes, “if something sounds too good to be true, it probably is“.

P.S. Here’s a list of known & “famous”, yet questionable instagram forex traders:

Luketradesfx

Sophiafxtrades

Ash.Trades

Gs_3

…add any additional names in the comments below.

A legitimate alternative

It's true to say that there are many scams online, but in among the scams there actually some legitimate (and very good) ways to earn extra money online.

Some of them, with effort, can even see you earning a living online.

My top recommended method (which is the same method I personally use to earn an income online) is something called affiliate marketing.

Affiliate marketing basically involves you promoting products for companies like amazon online & getting paid commissions in return. It's a fantastic way to earn.

The best thing about affiliate marketing is that there are no eligibility requirements to get started meaning its open to everybody & the amount you can earn with it is uncapped.

On top of affiliate marketing (my top recommended method), there are also still some other good ways that you can earn too.

The alternatives may not necessarily see you earning as much, but if you want to check them all out & see which fits your criteria best, you can check them out here all the same.

The instagram forex traders scam – beware of instagram trading accounts

If you’ve spent any amount of time browsing through instagram then you’ll have no doubt come across those instagram forex trader accounts.

They’re typically run by young guys or girls who all suspiciously seem to own (and showcase) an audi R8 – and they all claim to have “easily” made millions through trading accounts online.

But on top of just showcasing the lifestyle, they’ve allegedly been able to achieve from forex trading they apparently want to let you in on it too… and they claim that if you sign up their program they’ll show you how you can also make millions from online trading too.

According to them, it’s easy, and according to them, anybody can do it – even if they’ve never traded before (which is an insanely bold claim).

But what’s the truth? Can you really make money with these instagram traders or is the whole thing just a scam? And if it is a scam, how are they actually making their money? Let’s take a look…

Instagram trader accounts – the concept

The way you’ll likely have come across one of these instagram trader accounts is via a promoted advertisement, which typically consists of an image of the account owner stood by, or doing something luxurious accompanied with a message like the one shown below:

Now the thing that makes this extremely suspicious is the fact that the post is a promoted post, which means the account owner is literally paying out real money to have that post displayed in front of you…

So the first question you have to ask is WHY is the account owner so desperate to “help you make money” that he/she is willing to pay for it?

I mean if the guy (or girl) in question was just selling training on how to trade & being open about it then fair enough – they’re running a business selling training, they’re advertising it & they’re making money from the people that are buying into the training… as long as the training’s good, everyone’s happy…

But that’s NOT what’s going on here…

This guy and the many other instagram traders like him are literally saying that you can just copy their trades – so how does he and the others make money from that if you’re not actually paying him anything?

Well, the truth is (as you’ll soon see) these so-called instagram traders are not actually doing any trading at all – instead they’re just faking it to trick you into signing up for a borderline scam so that they can earn some money at your expense.

And more often than not despite their profiles being jam-packed full of luxurious images many of these so-called millionaire traders are actually flat-out broke.

That was recently proven when an article published in the guardian revealed how one “millionaire” instagram trader named oyefeso who apparently owned multiple supercars found himself in court with the judge remarking “[you] portrayed yourself as a very successful trader within the financial market. Clearly this is not the case.” after he chose to run over a friend to whom he owed money instead of simply paying him back.

Free training:

How instagram “traders” really make money…

As mentioned above the majority of these so-called instagram traders are not actually doing any trading at all – and whilst some of them may indeed be doing a little bit of trading, that is not where the primary source of their income is coming from…

The primary source of their income is actually coming directly from the people they manage to sucker in to “copy their trades”…

You see these “traders” are essentially just affiliates of online brokerages like IQ option & this means that these brokerages are basically paying them commissions for getting new people to sign up & deposit.

Now in itself, there’s nothing really wrong with being an affiliate – providing it’s done legitimately. I myself am an affiliate & that’s how I make the majority of my own income online – and you too could become a successful affiliate with the help of a platform like commission academy…

But the problem here is that these “traders” are doing the whole affiliate thing illegitimately.

First of all, they’re not telling you that the way they actually make their money is by being an affiliate of the brokers and NOT by trading – so essentially they’re tricking you into signing up to the platform… and secondly what they’re not telling you is that most of the brokers these guys are affiliated with are borderline scams (some are even flat-out scams) and that you’ll be MUCH more likely to lose money than actually make it.

You see the brokers these instagram traders tend to affiliate themselves with are all often binary options brokers – and despite reviewing literally hundreds of different binary options brokers & systems I’ve never actually seen so much as ONE single person successfully manage to generate sustainable profits from binary options.

And out of the hundreds of brokers/systems, I reviewed it’s safe to say that around 99% were flat-out scams designed to purely steal money & the other 1% were “borderline scams” that did indeed pay out, but had the odds of winning massively stacked against you.

In fact, the whole thing is so bad that the US decided to completely ban binary options trading – and due to its insanely high risks, the UK had previously classified it as gambling rather than actual trading.

Forbes too even published an article warning about the dangers of options trading as shown below:

They’re preying on young adults with little financial knowledge & a burning desire for success

Most of the so-called instagram traders just so happen to be 18, 19, 20 or 21 years old… it’s very rare that you see many of them older than this & it’s exceptionally rare to see any above the age of 30…

The reason? Because most people 25+ are a little wiser when it comes to finance & they would be much more reluctant to jump so easily into something like trading as they’ll likely know that more often than not it’s losses as opposed to wins…

The truth is that nothing comes easy with trading – and those that do indeed make money from it often spend their entire days glued to their PC checking the markets… it’s not an easy game at all, and it’s a game where everything can also be lost just as easily as it can be gained.

Affiliate marketing (which is how these “traders” really make their money) is much more straight forward, there’s much less risk & it’s much easier to build up a sustainable source of income for the long term.

Therefore if done right affiliate marketing can be a MUCH better (and safer) way to make good money online – and if you’re interested in starting with it do be sure to check out the free platform wealthy affiliate where you can learn much more about it.

But yeah, basically these instagram traders are all young because the way they’re getting people to join their “scam” is by getting them to relate with them.

What 18, 19, 20-year old etc doesn’t want success? Who at that age wouldn’t love to have a supercar or a house paid off?

Most people of that age would love nothing more than an easy way to make a lot of money, and when they see an image in their instagram newsfeed of somebody the same age as them who’s allegedly done it they immediately become curious & want to find out more.

The next step they’ll likely take is to hit the follow button – they may be curious but at the same time they’ll still likely be sceptical.

However once that follow button has been hit the account owner will often immediately send a direct message to the user trying to encourage them to get on board.

“all you need to is £250 to get started”…

“just copy my trades, you can’t lose”…

Those are the types of things these instagram traders tell their unsuspecting “victims” & when the curiosity of the user overpowers the scepticism that’s when the problem arises. They sign up to the broker the “trader” recommended, they deposit the £250 as they’re told & from there they’re left to find out the hard way that the whole trading thing wasn’t so easy after all.

Sadly though even if they still have funds left within their trading account most of the brokers recommended by these so-called instagram traders are flat-out scams & one way or another they’ll refuse the withdrawal request.

Some, like IQ option, are “more legit” – but ultimately if you read my review on them you’ll see how the whole thing is dead set against you… and whilst they may pay-out, it doesn’t seem like anybody ever wins anything to actually get paid out!

Regardless though the instagram trader doesn’t care – he or she will simply block your account if you hit them up with any comeback because the second you made the deposit they already made their money from you. The broker will hand them a shockingly high commission for referring you (sometimes in excess of £200) & you’ll just be left to feel frustrated with no obvious way of getting your money back.

Sometimes though the scam can be much worse

Losing £250 to an online scam sure as heck isn’t nice, but if you get caught out by the instagram trading scam & manage to get away with only losing £250 then you might want to actually consider yourself pretty “lucky” as some people have ended up being scammed out of tens of thousands of pounds.

Well upon depositing £250 to the brokers sometimes the broker will just see all your trades lose & have the scam over & done with – however other brokers can be much more cunning & can actually fake your profits to get you to deposit more.

This one story I previously published of what a binary options scam did to a single mum showed that rather than trading as she thought she was, she was essentially just playing a video game via the broker.

Her account wasn’t connected up to the markets at all & all of the profits/losses shown were being manipulated by the broker to make her think she was profiting. She was even assigned an “account manager” who regularly encouraged her to deposit more & more to see even bigger profits…

And it would be easy to get carried away with the deposits if you truly believe you are making so much money – but sadly when she came to make her withdrawal she was left to find out the hard way that she was not.

The whole thing had been a lie & tens of thousands of pounds later she was only then left to discover that she had actually been scammed.

So basically, in short, the brokers these instagram forex traders recommend are just set out to take as much cash from you as possible, and more often than not the instagram traders themselves are set out to get you to deposit as much as possible because they are often paid higher bonuses based on how much you deposit.

Ultimately it’s all bad news.

Don’t fall for the instagram trading scam

When it comes to this forex trading scam on instagram the saying “curiosity killed the cat” couldn’t be more relevant. That’s all these so-called “traders” are preying on – your curiosity, so they can trick you into depositing via a broker that’ll pay them a commission at your expense.

I mean sure these guys are very good at making it look like they are genuinely making money from trading but ultimately with social media, it is very easy to create an imaginary lifestyle & that’s all these guys are doing.

So the next time you see a so-called millionaire trader on instagram that wants to help you make money just give him (or her) a wide-berth & for any of your friends that get interested, just send them over to this post!

In fact, if you enjoyed this post or found it insightful into how the instagram trading scam actually works then do me a favour & share it on your social media anyway – let’s expose these guys once & for all & stop them taking advantage of other unsuspecting victims.

And if you’re still looking for ways to earn good money online legitimately, then check out my top picks right here.

A better alternative

The sad truth is that unfortunately most of the programs promising to help you make money online are scams. I can say that confidently after exposing over 500+ of them here on this blog.

But the good news is that even though most of them are indeed scams, there are actually some very good programs in amongst them - some programs that can truly help you to earn money.

And out of all of the legit programs I've seen, the one I would recommend the most to anybody looking to get started online is commission academy. In my own opinion, that's the best place to start.

At commission academy, you'll be provided with everything you need (including the training & tools) to begin earning real money by promoting products or services for companies like amazon online.

The best part is that there's literally no limit on the amount you can earn with it & the process is pretty simple which means that it's absolutely perfect for people that don't have much experience.

Some wealthy affiliates even earn as much as 5-figures per month. Or more!

I mean don't get me wrong, that kind of money won't just fall into your lap without doing any work. But the harder you're willing to work at it, the more you stand to earn with it.

So if you're looking to get started but don't know which route you should go down or which program you should join (and don't want to waste money on bogus things that don't actually work), then I'd highly recommend checking out commission academy first. You can learn more about it here.

Instaforex review

Instant trading EU ltd

Also instaforex.Eu

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.

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.

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.

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 .

Broker details

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

Live discussion

Join live discussion of instaforex.Com (.Org) on our forum

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Let other traders know if this service is worth checking or should be avoided.

Traders reviews

Length of use: 6-12 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

Length of use: 6-12 months

Instaforex took my profit 8.5k. They claimed that the profit 8.5k was made from 900usd usd bonus given during my initial deposit 3k usd.
They took my profit clause 11. Fyi, my fund manager did not inform about clause 11 impact if i took 30% bonus.

Instaforex is an unethical company.

My son committed suicide because of instaforex.

They were confiscated illegally for his son's profit of $ 7000.

My son was recording all $ 7000 transactions.

I requested payment by september 26th.

If instaforex does not pay, i will sue instaforex yes.

If you are not paid, write your email address here.

People who were in the same damage!

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.

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.

Forex trading scams: is instaforex group a scam?

In this instaforex group review, we will take a look at the facts to determine if this company is indeed a scam.

There are so many forex trading scams out there, it’s hard to count them all.

And it when one goes under, another one appears.

Forex trading is one way to make money from the internet, but unfortunately, the scammers have invaded the industry as well.

It’s easy to avoid these scams because they all have the same red-flags.

One group that has been making the headlines lately is instaforex group and it has been flagged a scam by several news outlets.

If you have found yourself wondering if this is a legitimate program, continue reading this review!

Instaforex group review

Product name: instaforex/instaforex group

Product type: forex trading

Country of operations: russia

Price: $1 minimum

Best for: those good with high risk online investments that are looking to build passive income online.

Rating: 40/100

Summary: forex trading lures a lot of people looking for the fast track to online wealth and income. While instaforex is one of the few forex trading platforms that we’ve reviewed that seems somewhat legit, it has it’s issues. Namely complaints of delayed withdrawals and customer service.

Recommended: no

If you’re looking into instaforex group for the money making opportunity, you should check out my top recommended training instead. It has all the tools, training and support you need to build a successful online business. Plus 10 free classes to get started!

What is instaforex group?

Instaforex was founded in 2007 by instaforex group and since then it has rapidly grown into an international trading platform.

The website offers a wide range of services and appears to be a legitimate trading platform, similar to well-known forex trading companies.

There’s also the option to create a demo account to practice trading with, and familiarize yourself with the user interface.

In 2009, the world finance magazine called instaforex the “best broker in asia”, a title that is proudly displayed on their website.

A screenshot from the InstaForex trading platform showing sports cars and jets.

It’s also important to mention that this company is based in russia and most of the employees are russian.

Additionally, a lot of the english content on the website is poorly translated.

It seems like this trading company is popular in asia, but it has a poor reputation in other countries.

There are also numerous websites and articles out there that claim instaforex is a scam.

But maybe everyone just isn’t using the platform properly?

Is instaforex group a scam?

By far the most common complaint about this company is regarding withdrawals.

There are numerous reports from customers who have attempted to withdraw funds only to have their request ignored or delayed.

See, instaforex offers a $200 bonus for all new traders.

Very few new traders actually receive this bonus.

Most traders will sign-up to receive this bonus, and then use it to make a few trades, only to discover that their account has been canceled.

According to online reports, this problem happens quite often.

And if you do happen to earn some cash, withdrawing it is a hassle.

Most traders will have to chase down the company and pressure them to send the funds, or they’ll have to contact specific people within the company to green-light the transaction.

It’s no secret that this company has a lot of negative reviews surrounding it.

But does that mean it’s a scam?

In most cases, when it’s easier to find negative reviews about a product online, than it is to find positive reviews, that’s a good sign to avoid the product.

In the case of instaforex group, some countries have even added it to a list of known online scams.

But can you make money?

Instaforex undoubtedly has a lot of issues, but people can still use the platform to open and close trades.

Contrary to what you might think, the platform does work, and some people do use it to make cash.

It’s not one of those hit and run scams that will encourage you to sign-up and deposit funds only to have your funds disappear.

This does not mean I’m defending the company, but I believe people should know the truth.

It does work.

But it’s not nearly the best forex trader out there, and it does have a lot of flaws.

Does that mean it’s a total scam?

Not necessarily… but it doesn’t mean it’s a good company either!

There’s also an affiliate program that you can participate in.

Instaforex group review employees:

When researching the company, I came across a page of company employees.

Not surprisingly, all the employees have classic russian names that, when entered into google, deliver a wide range of results.

For instance, andrey abram, the second person on the executive board list, could be a number of different people.

There’s a result for a boxer, a doctor, a russian athlete, a photographer, an artist, and many others.

But nothing that matches the bio of the guy who works at instaforex.

Similar results can be found for pretty much everyone on team.

I think that’s interesting!

And it makes me think the people on this list are using common russian names to avoid using their real names.

When someone doesn’t want to use their real name, its usually a sign of something fishy!

At least they’re not paid actors like some forex trading scams use!

Forget sketchy binary trading scams:

Forex trading scams – high risk for online income seekers

Many people who are new to online business end up believing that forex trading is the best way to make money online.

The truth is that forex trading is a very risky way to make money online and even experienced traders lose cash quite often.

And it also requires a large initial investment.

For instance, most companies require a minimum deposit of $250 to activate the account.

But it can be fun for people who appreciate the risk and have the money to invest.

I need to stress the point that it is risky and there’s always a chance that you can lose all your earnings.

If you do want to get involved with forex trading avoid all companies that have negative reviews and focus on the legitimate companies.

Conclusion on instaforex group

To summarize this instaforex group review, the company does have quite a few issues, and it’s not licensed.

But it does process withdrawals, and it does have a trading platform that is relatively accurate.

Therefore, I conclude that the company is not a scam.

But it’s also not a product that I can recommend.

The company has a suspicious history and there are quite a few red-flags on the website, not to mention the numerous complaints filed against the business.

I suggest that readers avoid this company and focus on more reputable forex traders such as etoro or similar platforms.

Alternatively, learning how to build a website is another route you can take to earn cash online.

Need help making money online?

Thanks for taking the time to read our instaforex group review!

We hope you have learned a bit about forex trading scams.

Instaforex review – is it a scam or legit broker (2021)

In this instaforex review, we are going to take a look at the offer that this broker prepared for its traders. Instaforex is regulated by the cysec in cyprus. Instaforex operates on the financial market since 1995. When it comes to trading platforms, the broker features webtrader. The instaforex minimum deposit is 1 USD.

Between 74-89% of retail investor accounts lose money when trading cfds. You should consider whether you can afford to take the high risk of losing your money.

Basic information from this instaforex review

website address:	instaforex.Com (.Eu)
operated by:	instaforex group
licensed and authorised by regulatory bodies:	cysec BVI FSC
supported languages:	english, german, spanish, french, italian and portuguese
customer support available via:	E-mail, phone, live-chat
contact details:	[email protected] +443300109336
available deposit methods:	bank transfer, VISA, mastercard, alipay, american express, bitcoin, diners club, JCB, litecoin, local bank deposits, local bank transfers, payco, unionpay, wechatpay
available withdrawal methods:	bank transfer, VISA, mastercard, alipay, american express, bitcoin, diners club, JCB, litecoin, local bank deposits, local bank transfers, payco, unionpay, wechatpay
minimum deposit:	1 USD
min. Trade in lots:	0.01
spreads:	typical spread on the currency pair EUR/USD - 2,0 pips * on standard account type
tradable assets:

The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with.

For instance, in the european union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in australia and possibly in other jurisdictions.

Instaforex fees (typical spreads)

We have scanned fees (typical spreads) that instaforex charges when trading popular currency pairs, here is their breakdown in pips.

*typical spreads were recorded on 17.01.2020 at 21:21 for the standard account. Instaforex spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.

Random reviews of competing FX & CFD brokers: capitalindex, bullseyemarkets, grinta-invest and ckmarkets

Frequently asked questions

�� is instaforex a scam?

Instaforex is a broker licensed and regulated by the cysec and BVI FSC. While regulation gives to brokers much needed credibility, it still does not mean every regulated broker is honest. In order to be sure that instaforex is not a scam, read our trader reviews and check other popular trading related websites and forums.

�� what is the instaforex minimum deposit?

In order to start trading with instaforex, you have to deposit at least 1 USD.

�� what deposit and withdrawal methods instaforex supports?

We don’t have our own personal experience with instaforex. However, because the broker is regulated by the cysec and BVI FSC, there is a high chance that it is not a scam. With that being said, it still does not mean that instaforex is the best option, as there are also hundreds of other regulated brokers with similar or even better trading conditions.

Should you be looking for a highly reliable broker featuring forex trading and cfds, you can get your hands on our marketing broker IQ option – 85% of retail CFD accounts lose money , which is a cysec regulated company that allows trading from as little as $10 and charges highly competitive fees on all assets.

Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage.

Between 74-89% of retail investor accounts lose money when trading cfds. You should consider whether you can afford to take the high risk of losing your money.

¹ variable spreads, spreads recorded for the EUR/USD on 05.10.2020 at 11:42 GMT.

Tradingbeasts helps individual traders learn how to responsibly trade binary options and cfds. We actively trade, publish educational articles and news. We verify and compare brokerage companies and warn our readers about suspicious projects or scam marketing campaigns. We are also a community of traders that support each other on our daily trading journey.

Disclaimer/disclosure

All information on this website represent subjective views of the authors and they are solely informational. We do not give investment advice. The operator of the website or the authors of the articles do not bear any responsibility for any decisions that visitors may make after reading articles published on the tradingbeasts website. When you trade binary options or cfds products you are exposed to a high risk of loss. We review and rate companies offering trading platforms for binary options and cfds. We do our best to warn people about scams and promote only companies we personally consider to be very good. From some of these companies, we may receive compensation. In order for you to use this website in any manner, please read our disclaimer/disclosure page and privacy policy

‘rich kid of instagram’ trader ‘scammed hundreds of victims out of £4,000,000’

Forex trader Gurvin Singh. See SWNS story SWPLforexFinance watchdogs have warned customers against dealing with a student

An instagram trader who claimed he was making £110,000 a month has been accused of duping more than 1,000 investors into losing nearly £4,000,000 in a bahamas fund.

Gurvin singh, 20, is believed to have convinced at least 1,250 people to invest in a foreign exchange trading scheme with his seal of approval.

Many of them say he misled them into thinking their money would be traded by him and his team in a safe UK-based fund which they could withdraw from at any time.

They claim their accounts seemed to be doing well but started panicking when word got round the fund started losing millions in a matter of weeks.

On christmas eve they were told the fund would be closed until march due to ‘brexit-related headwinds’, but none have heard from mr singh since.

Their money appears to have ended up with a broker in the caribbean, and may be unrecoverable.

Mr singh is under investigation by the financial authorities as a potential scammer, and the police’s fraud unit have confirmed they are looking into the allegations.

Student and amateur forex trader Gurvin Singh who has turned ?200 into ?100,000 to pay for his studies. See SWNS story SWTPforex. A student has turned ?200 into ?100,000 by playing the money markets -- to fund his studies to become a heart surgeon. Gurvin Singh, 20, said he has always wanted to be a doctor after frequent stints in hospital as a child, but couldn

The 20-year-old first made headlines in 2019 when he claimed to have turned £200 into £100,000 on the foreign exchange market while studying to become a doctor.

Instagram snaps of his luxury car collection and lavish lifestyle quickly amassed him over 170,000 followers.

He started receiving messages from people looking for investment tips and ‘signals’, a service whereby forex traders let clients copy their moves on the market for a price.

The plymouth-based student then started a team of ‘affiliate marketers’ called GS3 trades to help set up clients, whose money would be managed on a platform called infinox.

Alleged victims have said there were at least five whatsapp groups with 250 investors in each, meaning there could be more than 1,250 involved.

Screenshots of the infinox account appear to show mr singh’s clients lost £3,865,000 between them between august 2019 and christmas eve.

Although the group had access to some data tracking their fund, they argue they were duped into thinking it was doing better than it was.

They were pointed to an app monitoring completed trades, showing consistent profits for months.

But another app monitoring the amount of money still in open trades told a different story. Losses of a few thousand pounds crept up and then started snowballing into the millions from october.

Metro.Co.Uk has seen screenshots of investors being discouraged by GS3 marketers from checking the second app or believing what it says.

Its existence is not mentioned in any marketing material and the log-in details were tucked away in the small print of a contract investors signed.

Accountant jonathan reuben, 24, who invested £17,000, started raising the alarm when he saw the losses.

He and IT manager richard ham, 35, who invested £1,500, formed a whatsapp group of 440 other investors who had started complaining.

They and several other alleged victims, who did not wish to be named, said their concerns were either ignored or met with angry replies.

Screenshots show GS3 marketers using group chats to aggressively warn investors against backing out when they started panicking, claiming they would ‘mess it up’ for others.

When they contacted authorities they realised the infinox brand has companies registered in both the UK and the bahamas, and they had all signed contracts referring to the bahamas entity in the small print.

Only the UK company is FCA-regulated.

Jonathan told metro.Co.Uk ‘if I knew that this investment was not FCA-regulated, and it was not actually GS3 trading for me, I would never have deposited money into the scheme whatsoever.’

Richard said he wants the FCA and the police to get to the bottom of where their money has gone.

Metro.Co.Uk has seen dozens of messages, cached web pages and marketing material allegedly from gurvin singh and GS3 telling investors their trades would be mirrored on a UK-regulated platform.

They also show numerous investors being invited by GS3 to join through a link registered to the .Bs web domain, which looks almost identical to infinox UK’s .Com site.

Metro.Co.Uk has also seen video of infinox marketing material promising investors a maximum drawdown of 30 per cent, meaning they would stop trading if the fund fell by more than 30 per cent of its original value.

An investor claiming to have experience in forex trading suspects that a small portion of the money was traded day-to-day to show steady profits, while a much larger amount was used on risky trades that remained open for a longer period of time.

The fund only appears to have been closed once the losses on the open trades neared the amount of money that had been invested in the first place.

If the trades were indeed closed then the money may have been lost on the market and may not even be held in the bahamas.

Many people claiming to have put money in the fund also said they asked to have their initial investment withdrawn before christmas eve but have yet to receive it.

Metro.Co.Uk revealed on new year’s day that mr singh is being investigated by the UK’s financial conduct authority as a potential scammer.

The financial regulator said it believes he and his GS3 businesses were carrying out unauthorised activities.

Mr singh has previously said he only referred people to the brokerage service, and was not doing anything that needed the regulator’s approval.

He had deleted all his instagram posts and scrubbed his website of all information.

He told metro.Co.Uk the reason for deleting all his instagram posts as @gs_3 was ‘a matter linked to the police’.

He admitted to taking payments from infinox via GS3 marketing in return for referring ‘a few hundred’ customers but denied that this had anything to do with his GS3 marketing business. He said he was working on another company’s behalf but would not name it.

Mr singh also admitted that he had ‘sub-affiliates’ helping refer clients to infinox but denied paying them, or that they were his employees, and would not elaborate further on their business relationship with him.

He also insists he never led anyone to believe they were investing through an FCA-regulated broker, suggesting his sub-affiliates may have made such claims while impersonating him.

Mr singh added investors signed a contract with a broker regulated in the bahamas, which carried out the trading.

However metro.Co.Uk understands it is forbidden even to market such services outside the EU to people in britain. UK residents are allowed to send investments to countries like the bahamas but they must request to do so unprompted.

Mr singh did not respond to a request for further comment.

Infinox’s bahamas and UK companies have been approached for comment.

The FCA said on december 31: ‘almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us.

‘however, some firms act without our authorisation and some knowingly run investment scams.

‘this firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.’

The regulator declined to provide an update today.

Instaforex review

Overview

Website

Company

Address

Phone

Email

Regulation

Warning

Rating

Instaforex details

Instaforex is an online trading broker owned by instant trading ltd – insta service ltd – insta global ltd and located at 30 teatralnaya street, 5th floor, kaliningrad, 236040, russia.

They can be contacted by phone number at 18668000719 +448000518899 0800898548 1800882528 0018030179108 0800800115 88000805553 080080004 0800500329 or by email at [email protected].

Their website can be found at : instaforex.Com

Traders opinion

To avoid being scammed by a con artist’s scheme, it is recommended to first take a look at what other people are saying about the company you want to invest in.

After doing some research on social medias (facebook, twitter, instagram…) and trading forums, we found out that some users are unhappy about their experience with instaforex and wrote mixed reviews about it.
It seems like instaforex is not a reliable broker and you should take that into consideration before investing.

If you don’t want to be the next victim of a fraudulent broker operating with a fake company, always do your own research first.

Is instaforex legit or a scam?

This is the most important thing you need to know about a broker before using it. Is instaforex regulated ? Is it an offshore company ?

Most brokers are unregulated or regulated by an offshore regulation authority which won’t help you in case of problem. Keep in mind that if a broker steal your funds, you won’t be able to complain about it unless they are licensed by a serious regulator such as:

The cyprus securities and exchange commission (cysec)

The financial conduct authority (FCA)

The australian securities and investments commission (ASIC)

An unregulated broker is clearly not authorized to operate in any regulated country and you should definitely not put any money into it.

You should definitely avoid any unregulated or offshore trading compagnies!

How online trading scams work

The common used strategy by fraudsters is to first display some winning trades on your account to give you the impression that you are quickly and effortlessly making money. This allow them to gain some trust and confidence from you.

Their next step is usually asking you to invest more money or get some friends and family to invest in order to get the maximum funds they can from you.

When they feel that you are not able to invest any more money into the scam, they will simply suspend your account and you probably won’t hear from them any longer.

Many scam firms fraudulently claim to be based in a regulated juridiction using fake addresses and regulation licences in order to look truthfull in the eyes of future clients.

Instaforex reviews

29 • average

Write a review

Reviews 29

Good broker

Hi guys,
I never write reviews.
I have used AVATRADE | XM | INSTAFOREX | . But I felt like I needed to for this company. They are hands down one of the best out there. They offer one of the most services for a forex broker. I’ve been using them since 2018 I have 61 referred clients, I have used the PAMM system, I have withdrawn from commission account, I have transferred funds via the internal wallet I have deposited and withdrawn via a debit card. I have clients who have deposited via USDT. They do not always reply within 24 hours via email which I learned to accept. But they offer a whats app chat incase you need help and want a quicker reply, usually get a reply within 3 hours of message being sent. OR feel free to DM that page requesting my personal page and I’ll happily send you proof ive been with these guys for over 2 years now. As with the best things in life you need PATIENCE! Also read your terms and conditions this will stop you from being so angry at people who work in this company because you failed to read the terms.

Fruad company

This broker is one of the fraudulent broker.. Don’t go through this broker. I uploaded documents for verification and they accepted level 1 and level 2 verification after that I deposited amount and amount has been debited from my account but now they are saying your second level of verification is rejected and your amount will be credited after verification and ask utilities bill or bank statement (bank statement is also with stamp and signature). I don’t have utility bill and I am out of city for few months and how can I get bank statement with stamp and signature? It is fully fruad

I am proud to say that I am achieving…

I am proud to say that I am achieving 200-350 profits per month using their MT4 platform.
I am planning to join forexcopy soon so wish me luck! Happy trading to everyone :)

Big scam,my trade go more than 20pips…

Big scam,my trade goes more than 20pips in profit and will still be in 0.20

This is truly one of the bestthis is truly one of the best sites in the world where I work. I live in iran and I am proud that there are such sites that help people in the community. I really thank th

This is truly one of the best sites in the world where I work. I live in iran and I am proud that there are such sites that help people in the community. I really thank the instaforex site

It's amaze me they are still in the market

I really didn't expect they are still in the market. I think I trade with them many years ago. But some negativity regarding withdraw and I have no problem with that because my account under some introducing broker. Their downside are definitely about their spreads. If you ask me if they are real, probably yes because they always have some promotional events in our country. There are better choices out there in my opinion.

Hi gays! Few words about instaforex

Hi gays! Throughout the years that I have been trading with instaforex they have proven me that they are worthy of my trust. I have seen and experienced how much they care for their client and provide the services I need and I am very grateful to my friend who invited me to trade with instaforex, it has been a great help for my financial needs.

Thank you for your comment. Your opinion is very important.

Instaforex is a scam broker

Instaforex is a scam broker, I have tried many times to make a withdrawal, they have refuse to approve my documents, for over 6 months now I can't have my money, so I dicided to continue trading, their system is wired, when you are making profit they disturb your account with one way or the other, they make thier system not to respond to trading, you can't take profit, or place a trade for a while,. When you ask the support system to close trades for you, they make sure you stay at the lossing end before trades are closed, I can't continue because the whole system is a big scam and they all are connected to it

We are sorry to hear you experienced some problems while using our system. Be sure we treat our customers wisely and do our best to make their cooperation with us as comfortable as possible.
Also, please be informed that instaforex is a regulated broker and has some obligations to follow set as by regulator, as by the banks. To make the situation more clear and let you know we are always here for you, kindly provide us your trading account number. We'll look at it and reply to you either here or via email.

Do not hesitate to contact us again should you have other issues or problems.

They have too many bad rules during…

They have too many bad rules during trading, like 1+ minute so they'll consider your position legitimate. Not a good trader for scalper because of this exact matter + their spread isn't so good compared to many other brokers. Their license for arab countries won't protect you when things goes wrong with them.

We are sorry to hear you had a bad experience with us. First of all, we'd like to remind you that instaforex is a licensed broker and is always under the control of authorities.
Secondly, can you specify the exact problem you faced or maybe provide your trading account number so that we could get more details regarding the issue? We definitely understand your concern but would like to analyze the situation and help you get the info more clear.

Real bonuses

I remember back when I was still looking for a forex broker to deal with. There are a huge number of brokers lurking around and it was difficult to choose. But then instaforex stood out among the crowd through their promo campaigns. The bonuses and rewards that they offered were truly enticing. What’s impressive is that these bonuses are not only for attraction. This broker stays true to its promises and really gives the bonuses.

My first no deposit bonus

I started trading with instaforex using their no deposit bonus from 2016 and it was a great opportunity for me to trade not using just their demo but also trade using the live account. At first I am having difficulties on how to trade, I could not get bonus and not even earn some profits but thanks to my friends who helped me. They taught me all the strategies soi can make profit. Nowadays, I trade with USD pairs which is easier for me and I also use the market analysis in helping me about the market conditions. As I remember, the last deposit of $150 that I made via e-payment card was no hassle and also via withdrawal too. The process doesn't take long and it is only done up to 24 hours. There is no hidden commision which is a great! So what I am saying is that instaforex broker's payment is smooth and reliable in the forex market with stable service and the satisfied trading conditions. If you will encounter a problem with your trading, their customer service is always available online, it's just easy! Just click their online support and an official representative will talk to you right away and will help you as much as they can! Till now I have a nice experience with instaforex broker!

Nice PAMM system!

Good PAMM service!
I'm thrilled with the results.

Good broker

I’m really happy I found you guys :)

Best startup bonus

Instaforex gives me so much hope during this pandemic crisis. The 1000 US dollars startup bonus helps me trade without an initial deposit. I managed to earn some profits, and already replenished my trading account 5198770 thru skrill on the 10th day of may. I received the money instantly. Soon, I am going to withdraw my earnings!

Good service for making money

The forex copy service is great!

Very good customer support

Very nice broker

Very nice broker. Good working and withdrawal conditions.

Do not believe a word

Do not believe a word. I am ill and for this reason do not work. They got calls and still persuaded to take a loan and make a deposit. The result is neither analyst nor money. Don't believe

Absolute scam,took me months before I…

Absolute scam,took me months before I could get my investment back,

Instaforex broker review

Reviewer : justin freeman

Published: 12th august, 2020.

Broker information

Platform info

Platform: MT4

Web based: no

Mobile trading: no

Broker services

Open free
demo account

Expert summary

The company provides a wide range of services to its customers, which covers everything from the moment of opening an account to the moment of withdrawal of earned funds.

Instaforex has gained a leading position in the field of such services. This is entirely due to the fact that the company offers favourable trading conditions and a wide selection of trading instruments.
The total number of trading instruments exceeds 300 pieces. Instaforex, like all other brokers, provides access to the most popular metaquotes software (MT4).

It should be added that traders are given leverage. The leverage is from 1: 1 to 1: 1000. You can conduct the trading process, both with commissions and without.

The company systematically updates the available financial instruments. Clients who work with instaforex were among the first to work with bitcoin and one of the first to offer the opportunity to trade cfds in global companies.

Today, the company offers not only brokerage services in the forex and binary options market, but also other features:

• professional training for beginners and experienced traders who wish to develop.
• forexcopy accounts
• PAMM accounts
• free trading terminals with a convenient user interface

According to the ideology of the company, all the activities of the company are based on improving trading conditions and creating comfort for all customers. However, there are many dissatisfactions of former and current customers online. According to the instaforex website, the broker received a number of awards for the best broker. However, the list of praises and praises of the website about instaforex services and the attention paid to their customers contrasts significantly with the many forum posts about the poor service they actually provide.

The company also offers a $ 200 welcome bonus for new customers. Many online posters say they either didn’t receive this bonus or claim that the company used it in fraud.

Instaforex website contains non-native english text. Despite the attractive appearance, the english text on the instaforex website is clearly not native with obvious grammatical errors. For example, this is one of the first lines that attracts your attention on the site:

“instaforex trading conditions are universal tools for managing funds in the forex market.”

Although this linguistic flaw is admittedly unlikely to have a big impact on your forex trading, this is the red flag of a forex scam for a company. Essentially, if a company can afford to pay for a trendy website, at least they can make the text on it written in proper english.

At first glance, if you can handle bad english, the website seems like a legitimate forex broker, even claiming to be the “best broker in asia.” nevertheless, even this statement is worrying, because the verb “break” in the terminology of the forex market implies the action of manipulating the two sides in the trade.

Free demo account

Broker summary

The instaforex website consists of a comprehensive site with a wide variety of features for a forex broker and gives a quite impressive initial visual appearance.

The website has extensive pull down menus for all types of forex participants from beginners to seasoned traders, and it has an area for partners where you can register as a referral partner with the company. They offer four different partnership arrangements such as an introducing broker or a “trade-partner” where you recommend instaforex to your friends and family.

The website gives the overall impression of a foreign, yet professional, forex brokerage that provides many incentives for new traders to join up. One such incentive is the opportunity to win a lotus elise sports car and a cash bonus when opening a new account.

Also, the trading platform offered is apparently “the most dynamically developing trading platform based on metatrader 4 terminal.” in addition, the mobile version for windows mobile and multiterminal are offered by the broker.

Broker introduction

According to the instaforex website, the broker has garnered a number of awards for best broker.

Established in 2007, instaforex is the registered trademark of the instaforex group. The multi-asset, multi-regulated CFD broker is headquartered in mesa geitonia, cyprus and has more than 260 representative offices globally. Instaforex offers around 300 CFD instruments across forex, shares, indices, metals, oil & gas, and cryptocurrencies.

The subsidiaries include instant trading ltd, instant trading EU ltd, instavestor ltd, insta service ltd, and insta global ltd. The regulators include cysec, the british virgin islands financial services commission, and the central bank of russia. The firm provides services to global clients from its offshore-registered firm in saint vincent and the grenadines.

Spreads & leverage

You are able to sign up to the forex broker instaforex with a deposit as small as $1.

Instaforex meets the standards and needs for traders of any kind. As for those who like to afford to take risks, so for conservative traders who prefer not to take risks. For example, a company offers trading using leverage from 1: 1 to 1: 1000.

Also, to meet the different needs of its customers, instaforex gives them the opportunity to choose the type of their account.

Traders can open an account without a commission with classic spreads, accounts with a commission instead of spreads, cent accounts, segregated accounts or islamic accounts. Regardless of the type of your trader, instaforex has favourable conditions for trading.

Cent account

Spreads 3 – 7 pips or 0 pips and 0.03% – 0.07% commission

Standard accounts

Spreads 3 – 7 pips or 0 pips and 0.03% – 0.07% commission

ECN accounts

The minimum deposit is $ 100 (for a standard account) and $ 1,000 (for a professional account)

The average floating spread is 1.2 pips (for a standard account) and 0.8 pips (for a professional account)

Scalping account:

1.2 pips average floating spread

Instaforex boasts multiple resources and has won several awards in client services. Instaforex offers around 300 CFD instruments which includes: forex, shares, indices, metals, gas, cryptocurrencies and oil. As a client of instaforex, you are able to trade in futures and binary options.

Additionally, instaforex offers both metatrader 4 and 5 platforms, and these are available across web, desktop and mobile applications.

Open your account today

Platforms & tools

As mentioned above, as a trader with instaforex, you are able to use both metatrader 4 and 5 platforms, which are available across web, desktop and mobile applications.

In addition to metatrader 4 and 5, you are able to use IFXBIT and instatick. Metatrader and IFXBIT are predominantly used for CFD trading, where as instatick can be used for traders that want to bet on binary options.

The use of metatrader 4 is a user-friendly experience with an easy-to-use interface that is accessible in 39 languages.

MT4 supports all browsers, including: windows, macos, as well as iphone and android devices.

Instatick is the binary options trading platform on instaforex, and claims to have won over 40 international awards. You are able to sign up and deposit funds in three currencies, which are: USD, EUR and RUB. With a clear interface and accessible in ten languages, it’s an easy tool to use.

Trading tools that the company offers for its traders:

Over 100 currency pairs

Over 80 popular US stocks

Gold and silver trading

Futures CFD

Options and binary options

Commissions & fees

Instaforex charges the following fees:

A copy-trading fee – these are for traders that copy the strategies of professionals. This includes a commission of 0.5 pip per lot on ALL copy trades.

A swap fee – this is for holding overnight positions in any of the financial instruments on the instaforex site.

Instaforex charges a commissions of 0.03%-0.07% on the insta eurica and cent eurica accounts, while the other two accounts available with instaforex carry zero commissions.

Like all online brokers, instaforex receives most of its income from spreads, which remain elevated in all comparisons and vary depending on the specific account that the client has.

As already mentioned above, the platform offers two different types of accounts: standard and eurica. The main difference between these accounts is as follows: standard accounts use fixed spreads starting at 2 points, while eurica accounts use fixed commissions starting at 0.02%.

EU customers have other types of accounts, such as ECN, ECN pro and scalping, which are supported by a floating spread of 0.8 or 1.2 pips.

Novice traders are advised to take commissions rather than spreads to ensure efficient trading due to little experience in the financial market.

As mentioned above, commission brokers are relatively elevated. The average spread in the ECN pro account starts at 0.8 pips, while the insta. The standard account comes with fixed spreads ranging from 2.0 to 7.0 pips, the rest of the accounts are listed at 1.2 pips.

Education

Instaforex does NOT have a separate education section on its website, which is most unusual for a broker. However, this does not mean that there’s no resources for traders trading with instaforex.

All you need to do to find educational an analytical resources is look under the ‘for beginners’ and ‘for traders’ sections.

We recommend that beginners can find all of the information required under the ‘for beginners’ section and if you are an experienced trader looking for something more advanced, we recommend you look under the ‘for traders; section.

Beginner traders can get free courses to test their trading strategies. And as soon as a client opens an account and deposits real funds, a possibility is given to subscribe to the newsletter of analytical news and trading signals, which was prepared by experienced traders of the company, who spent a lot of time analysing the market.

The company also offers access to the economic calendar to study market events on their website. Moreover, the client can use the trading simulator and see repetitions of his transactions.

The client can use the latest online trading technologies to access information resources and news. This is why thousands of beginners and professional traders use instaforex.

Free demo account

Customer service

You are able to content instaforex via livechat, email and callback request. Unusually, instaforex does not provide a telephone number for individuals and clients to call, except for those that have registered in europe.

Additionally, you can contact instaforex through viber, telegram, whatsapp, facebook messenger and skype.

Final thoughts

In conclusion, we find instaforex an accessible and easy-to-use broker. Instaforex operates in several countries with numerous licences and has millions of customers using its world-class trading platforms.

There is an abundance of educational resources on the site, and the account opening process is simple and easy to navigate. Individuals registering with instaforex in europe can be sure that the safety of their funds are secure, however, the same cannot be said for international clients.

Unfortunately, the trading costs are very high, and the helpdesk system could be better. Instaforex gives you the opportunity to participate in partnership programmes, as well as contests and campaigns, so this can be seen as a bonus.

In addition, the old line of “if it is too good to be true, it probably is” comes to mind when considering the alluring instaforex “welcome bonus”, in addition to the supposed opportunity to win a pretty sports car.

However, we consider instaforex to be a reliable broker, and one that provides excellent trading conditions.

So, let's see, what we have: have you come across forex traders on instagram promising to help you make money? In this blog post I'm exposing the instagram forex trading scam. At insta forex scam