Note: At this time, we only have a cursory look at InstaForex as the company's official website (https://www.idifx.com/ ) does not open properly.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information
What is InstaForex？
InstaForex appears to be a fraudulent broker registered in St. Vincent and the Grenadines but without any credible regulation, with a history of no more than 5 years. Unfortunately, we could not find any more detailed information about this broker on the internet. Therefore, we recommend that you do not deal with such a low-information broker right off the bat and always consult WikiFX to get at least a basic understanding of a broker.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
InstaForex has both advantages and disadvantages. On the one hand, it offers the industry-standard MT4 and MT5. However, it is unregulated, which raises questions about the safety of investing with this broker. Additionally, there have been reports of difficulty withdrawing funds and scams.
InstaForex Alternative Brokers
There are many alternative brokers to InstaForex depending on the specific needs and preferences of the trader. Some popular options include:
Global Prime: For traders looking for an ECN broker with competitive pricing and a wide range of tradable assets.
JFD: For traders looking for an STP broker with a broad range of tradable assets and no dealing desk intervention.
Markets.com: For traders looking for a well-regulated broker with a user-friendly platform and extensive research tools.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is InstaForex Safe or Scam？
The website is currently unavailable, it is a concerning sign for investors. Additionally, the fact that InstaForex is unregulated and the British Virgin Islands Financial Services Commission (FSC, License No. SIBA/L/14/1082) license they claim to have is a suspicious clone is another red flag.
When choosing a forex broker, you should know that a regulatory license does not necessarily guarantee the reliability of a broker as it may be an expired or cloned regulatory license, but a broker without any regulatory license has a high probability of being unreliable.
Trading Platforms
InstaForex offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. Both platforms are available for desktop, web, and mobile devices, providing traders with the flexibility to trade from anywhere. MT4 is well-known for its user-friendly interface and extensive range of charting tools and technical indicators, making it a popular choice among traders. MT5 offers additional features such as more advanced charting tools and the ability to trade multiple asset classes on the same platform.
Overall, InstaForex's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:
Customer Service
The support service provided by InstaForex is not very extensive. It can only be accessed via email and phone. The broker also has a presence on social media platforms, such as Twitter and Facebook, which could provide additional ways to contact them. Since the company's website is not currently open, we do not know if it offers other services such as live chat, callback, FAQ, 24/7 or 24/5 service, etc.
Note: These pros and cons are subjective and may vary depending on the individual's experience with InstaForex's customer service.
User Exposure on WikiFX
On our website, you can see that some users have reported unable to withdraw, severe slippage and scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Conclusion
Based on the available information, InstaForex is an unregulated broker with a questionable license and a history of reported difficulties with withdrawing funds. While it offers MT4 and MT5 trading platforms, it is important for potential investors to conduct thorough research and exercise caution when dealing with this broker. It is also important to note that the company's website is currently unavailable, which raises further concerns. It is recommended that investors consider alternative regulated brokers with a proven track record of reliability and transparency.
Frequently Asked Questions (FAQs)
2023-02-24 16:18
2023-02-15 11:16
