Regulators: CySEC, FSC

Cryptocurrencies: YES

Minimum Deposit: $1

Maximum Leverage: 1:1000

Spreads: High

My Score: 5

InstaForex is a Russia-based forex broker offering online trading services for investors since 2007. I can say that this broker is one of the oldest brokers in Forex market. In this process, it has expanded its client base with different types of accounts and innovative services. I can say that it has become one of the best-known forex brokers, especially among Asian countries.

There is strong interest from traders from Brazil in South America, Malaysia in Asia, Nigeria in Africa. In other words, it is a broker that has a very international reputation and serves in a wide geographical area.  The broker’s official website has about 1.5 million visitors a month. This number is not very high compared to other forex brokers, but it is a good number of visitors.

After all, there are some topics that investors are curious about. Is InstaForex safe or scam broker? What are account types and trading conditions? What are the deposit and withdrawal methods? Is there a problem during the withdrawal process? What is the minimum deposit and maximum leverage? You can find all these questions in this Insta review. In addition, if you have any other questions that you suspect, you can also express them in the comments section below the article. I will try to answer in detail as soon as possible.


The issue of regulation is not a matter of stability in InstaForex. As you can see above, InstaForex has two licenses from two different regulators: CySEC in Cyprus and FSC in British Virgin Islands. When we look at client comments on different websites, we sometimes see that different licenses are being used by InstaForex. For example; There are web sites claiming that Instaforex is regulated by Central Bank of Russia (CBR) or RAFMM (Russian Association of Financial Markets) in Russia.

Instant Trading EU LtdCyprusCYSEC
Instant Trading LtdBritish Virgin IslandsFSC

Some clients have also indicated that they are licensed from Belize. However, when we examine the broker’s official website, we see that there are two different licenses. The license problem here confuses the investors’ minds that the broker’s license was canceled after a problem. The license may expire and the brokers may prefer to be licensed from another regulator instead of renewing the same license. This is understandable, but if you are serving so many countries, it is a good idea to be licensed as much as possible from different regulators.

Account Types

InstaForex offers 4 different account types, but these account types can be divided into two main categories. These two categories are the standard account type and the Eurica account type. These are divided into Insta and Cent.

Account typeMin./Max. depositMinimum trade sizeMaximum leverageSpreads (Commission) 
Insta Standard$10.011:1000Fixed 3 pips
Insta Eurica$10.011:10000 pips + 0.03% / 3 pips
Cent Standard$1 / $10000.00011:1000Fixed 3 pips
Cent Eurica$1 / $10000.00011:10000 pips + 0.03% / 3 pips

Cent account is a nano account type. It is possible trading  with nano lots in nano account types. For example;  1 standard lot equal to 100,000 unit in forex. So when buying 1 lot of EURUSD trade, you will be receiving 100,000 euros. In addition, there are a mini lot equivalent to 10,000 unit and a micro lot equivalent to 1000 unit. These are already offered by almost every broker. Brokers offering nano account types, however, also have a nano lot equivalent of 100 unit. Unlike other brokers, InstaForex has a lot of other types that can be called ultra nano lot and have equivalent  to 10. The minimum trade size is 0.0001 lot in the cent account offfered by InstaForex.

In InstaForex, swap-free accounts, also known as Islamic accounts, are available, but the broker may ask you to document your faith. At the end of the examination of the documents, the broker may accept or reject your Islamic account application.

There is practically no matter difference between the Eurica account type and the standard account type. There is no spread in Eurica account type but commission is charged by the broker. However, it is practically a cost of 3 pips, such as a fixed spread standard account.

The minimum deposit of all account types is $1 and the maximum leverage is 1: 1000. The maximum leverage offered by Instaforex is quite high and I would advise investors to trade carefully because this leverage ratio can be risky.

Deposit and Withdrawal Methods at InstaForex

MethodsFees on DepositProcesssing Time on DepositFees on WithdrawalProcesssing Time on Withdrawal
Bank CardSystem fee24 hoursSystem fee1–6 business days
Bank WireBank fee2-4 business days2%2-4 business days
MegaTransferNo feesInstantNo fees1-7 working hours
PayCoNo feesInstantSystem fee48 hours
SkrillNo fees24 hours1.39%1-7 working hours
BenecardNo fees24 hours1%1-7 working hours
NETELLERNo feesInstant2%1-7 working hours
China Union PayNo feesInstant1.5%-1.8%1-2 business days
WeChatNo feesInstantXX
AlipayNo feesInstantXX
Nganluong bankNo feesInstantNo fees2-4 working days
Nganluong walletNo feesInstant1100 VND + 1.1%7 working hours
PaxumNo fees1-7 working hoursNo fees1-7 working hours
BPay.mdSystem feeInstantNo fees1-7 working hours
Carta Bleue (France)No feesInstantXX
CartaSi (Italy)No feesInstantXX
Dankort (Denmark)No feesInstantXX (Bulgaria)No feesInstantXX
Electronic Payment Standard (Austria)No feesInstantXX
GiroPay (Germany)No feesInstantXX
iDeal (Netherlands)No feesInstantXX
Maestro (UK, Spain, Ireland, Austria)No feesInstantXX
Nordea SOLO (Sweden)No feesInstantXX
POLi (Australia)No feesInstantXX
PostePay (Italy)No feesInstantXX
Przelewy24 (Poland)No feesInstantXX
RapidNo feesInstantXX
SOFORTNo feesInstantXX
TrustlyNo feesInstantXX

Other payment systems
System fee7 working hoursXX
BitCoinNo fees3 hours0.5%1-7 working hours
LiteCoinNo fees3 hours0.5%1-7 working hours
Transfer between accountsXXNo fees1-7 working hours
SolidtrustXXSystem fee1-7 working hours
PAYSECNo feesInstant1,75%1 business day

Instaforex; offers a wide variety of deposit and withdrawal methods from wire transfer to bitcoin, from e-wallet systems to credit card. I do not think an investor would say: I wanted to deposit money in the InstaForex account, but the options were not suitable for me. You can see all the deposit and withdrawal methods and fees and processing time in the table below.

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Commissions and fees


Customer Service


Platform & Tools


Product Portfolio



  • Wide range of payment methods
  • Low inital deposit as $1


  • Licence problems
  • High spreads
  • Account types are limited

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IFX SelenaAl Mamun ShaonTaif Choky Recent comment authors

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Al Mamun Shaon
Al Mamun Shaon

I was trade from more then 1 year. But with i was try to withdraw then they was don’t give me my profit! Scam broker.

IFX Selena
IFX Selena

Hi Al Mamun Shaon,

We at Instaforex try to provide the best services to our traders. We apologize if we have inconvenienced you but I hope you stop giving false accusation. Please, provide your account number and elaborate on what happened to your withdrawal request so that I may be able to help you with this concern.

Kind Regards,
IFX Selena

Taif Choky
Taif Choky

It’s so hard to sit back and recall when i was bankrupted due to lack of knowledge of the FOREX market and crypto currencies but Mr. Bailey saved my ass after all. I still don’t know how to thank him. A thousand thank yous is not enough. Get in touch with him via x @ gmail dot com