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Do you want to know which is the better broker between instaforex and WeTrade ?
In the table below, you can compare the features of instaforex , WeTrade side by side to determine the best fit for your needs.
EURUSD: 0.4
XAUUSD: --
Long: -5.74
Short: 0.73
Long: -21.82
Short: -7.01
EURUSD: 0.1
XAUUSD: -3.3
Long: -7.68
Short: 0.38
Long: -35.58
Short: 18.34
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of instaforex, wetrade lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Registered in | Cyprus |
Regulated by | CYSEC |
Year(s) of establishment | 5-10 years |
Trading instruments | currency pairs, stocks, indices, precious metals, energies, commodities, cryptocurrencies and futures |
Minimum Initial Deposit | $1 |
Maximum Leverage | 1:1000 |
Minimum spread | 0.0 pips onwards |
Trading platform | MT4, MT5 |
Deposit and withdrawal method | Bank wire transfer and many other methods |
Customer Service | Email/phone number/address/live chat/more |
Fraud Complaints Exposure | No for now |
General information and regulations of InstaForex
InstaForex brand was founded in 2007 and claims to be the choice of more than 7 million brokers. InstaForex website may be very complex at first glance, but if you take a moment to look at it closely, you will find a wealth of content. The information bar on both sides of the page is full of attractive content, such as news, widgets, real-time charts, customer service and much more.
In the following article, we will analyze the features of this merchant in all its dimensions, providing you with easy and well-organized information. If you are interested, read on. Reading this article will take you approximately 7 minutes.
At the end of the article, we will also briefly extract the most significant advantages and disadvantages so that you can get an idea of the broker's features at a glance.
Market instruments
As we have said before, InstaForex web pages are very informative. On this trading products page you can see not only the trading products, but also the difference in commissions and spreads between different accounts. We can trade currency pairs, stocks, indices, precious metals, energies, commodities, cryptocurrencies and futures.
Spreads and commissions for trading with InstaForex
Let's take currency pairs as an example. Spreads and commissions vary on different accounts. On the MT5 and Standard accounts the spread is about 3 pips and there is no commission, while on the Eurica account the spread is 0 and the commission varies from 3-12 USD.
We can venture to conclude that Eurica is suitable for long-term traders who trade less frequently, while the other two accounts are suitable for short-term traders who trade more frequently.
Account Types for InstaForex
Demo account: InstaForex offers a demo account for testing a little on the financial market without the risk of losing money. Opening a demo account, according to the company, is as easy as ABC.
Live account: there are in total 4 types of accounts: insta standard, insta eurica, cent standard and cent eurica. The minimum deposit for opening an account at InstaForex is just 1 USD, and the trading conditions also seem to be quite favorable.
Trading platforms offered by InstaForex
As for trading platforms, clients can choose from the market leaders MetaTrader4 and MetaTrader5, which can be accessed from any device.
However, have you ever wondered or are you wondering which platform you should use? Our team has the corresponding article for your reference. The article details the similarities and differences between the two and gives specific advice.
https://www.wikifx.com/es/wikishow/202207208464173722.html
Leverage offered by InstaForex
InstaForex offers a maximum leverage of up to 1:1000, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.
Deposit and withdrawal methods and fees
Unlike some brokers that lack information, InstaForex is very generous in providing information. If you carefully browse their website, you can find a wealth of information. As for deposits and withdrawals, InstaForex shows all methods, required fees and arrival times clearly on a single page.
Educational resources
InstaForex educational resources are extensive. Online charts, market analysis, Forex calculators, indicators, articles, questions and answers, glossary... Whether you choose InstaForex as your broker or not, you can make the most of the resources available here.
Customer support of InstaForex
Call back, live chat, WhatsApp, email...with numerous channels and 24/7 service, clients could get help whenever they have trading-related problem.
Here are more details about the customer service.
Languages: there are total sixteen languages on InstaForex website, which could meet the needs of most of its customers.
Service hours: 24/7
Phone: you could fill in a form, indicating your country, your preferred language and time, the team will call you whenever you want, and the service is totally free of charge.
Email: support@mail.instaforex.com
Social networks: Facebook, Twitter, YouTube, Telegram, Instagram
Users exposures on WikiFX
We have not received any reports of fraudulent activity at this time.
Advantages and disadvantages of InstaForex
Advantages:
Well regulated
MT4, MT5
Sufficient information
Educational resources
Many instruments available
Demo account
Disadvantages:
Low leverage
Frequent asked questions about InstaForex
Is this broker well regulated?
Yes, it is currently effectively regulated by CYSEC in Cyprus.
Does this broker offer MT4/MT5?
Yes, InstaForex offers both MT4 and MT5 for you to choose from.
Registered in | United Kingdom |
Regulated by | LFSA, FSA |
Year(s) of establishment | 5-10 years |
Trading instruments | Forex pairs, metals, energies, indices, stocks, cryptocurrencies… 90+ instruments |
Minimum Initial Deposit | $50 |
Maximum Leverage | 1:2000 |
Minimum spread | 0.0 pips onwards |
Trading platform | MT4 |
Deposit and withdrawal method | Bank wire transfer, USDT, local deposit, union pay |
Customer Service | 24/7 Email, live chat, YouTube, Facebook, line |
Fraud Complaints Exposure | No for now |
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Pros and cons of WeTrade
Pros:
Regulated by FSA and LFSA, ensuring client fund safety
Wide range of instruments including forex pairs, metals, energies, indices, stocks, and cryptocurrencies
Multiple account types to suit different traders, including a demo account
Competitive spreads and high leverage of up to 1:2000
Educational resources available to traders, including an economic calendar and video tutorials
Cons:
Limited deposit and withdrawal options, with only USDT, bank wire, and local deposit accepted for deposit and union pay and bank wire for withdrawal
Customer support with only email and social media channels for communication
Limited information available about the company's background and history
No mobile trading platform available for traders on the go
ECN account requires a minimum deposit of $3000 and charges a commission of $7 per lot traded.
What type of broker is WeTrade?
Advantages | Disadvantages |
No conflict of interest | Higher spreads than market makers |
Straightforward pricing | No fixed spreads |
Lower trading costs | Possible requotes during volatile markets |
No trading restrictions | Slower order execution than market makers |
WeTrade is an STP (Straight Through Processing) broker that enables its clients to have direct access to interbank markets. This type of broker passes on their client's orders directly to liquidity providers, which are typically banks, without the need for a dealing desk. As a result, STP brokers are typically known for their transparency and faster order execution. WeTrade's STP model allows clients to experience pricing that reflects current market conditions, which can result in lower trading costs. However, since WeTrade does not have fixed spreads, clients may experience wider spreads during volatile markets. Additionally, requotes may occur due to the time it takes to process orders.
WeTrade is a UK registered forex broker that is regulated by the Financial Services Authority (FSA) and the Labuan Financial Services Authority (LFSA) in Malaysia. The FSA is one of the most reputable financial regulatory bodies in the world, and its oversight ensures that WeTrade operates according to strict standards of transparency and fairness. The LFSA is also a well-respected regulator and its oversight provides an additional layer of protection for traders. WeTrade's regulatory status is a significant advantage as it offers traders a level of protection and reassurance that their funds are safe and that the broker is operating within the law.
In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.
Advantages | Disadvantages |
Wide range of 90+ instruments including forex pairs, metals, energies, indices, stocks, and cryptocurrencies | No information provided on specific spreads for each instrument |
Ability to diversify trading portfolio | Limited selection of cryptocurrencies compared to some other brokers |
Access to a variety of markets and assets |
WeTrade offers its traders a wide range of 90+ instruments to choose from, including forex pairs, metals, energies, indices, stocks, and cryptocurrencies. This provides traders with a great opportunity to diversify their trading portfolio and access a variety of markets and assets. However, the broker does not provide specific information on spreads for each instrument, which can be a disadvantage for traders who are looking for greater transparency in terms of trading costs. Additionally, the selection of cryptocurrencies offered by WeTrade is somewhat limited compared to some other brokers in the market.
Advantages | Disadvantages |
Low spreads for all account types | Commission charged for ECN account |
Zero commission for STP, VIP, and Affiliate accounts | Higher spreads for Affiliate account |
ECN account offers zero spreads | Commission charged for ECN account |
WeTrade offers multiple account types, including STP, VIP, ECN, and Affiliate accounts, each with different spreads and commissions. The STP account offers spreads of EURUSD from 1.8 pips, with zero commission, making it an ideal choice for beginner traders. The VIP account offers lower spreads of EURUSD from 1.0 pips, with zero commission, making it a suitable option for advanced traders. The ECN account offers zero spreads, but with a commission of $7 per lot traded, making it more suitable for high-volume traders. Lastly, the Affiliate account offers spreads of EURUSD from 2.3 pips, with zero commission, designed for traders who want to earn commission through referrals. Overall, WeTrade's spreads and commission rates are competitive and cater to different trading needs.
Advantages | Disadvantages |
Multiple account types to choose from | Higher minimum deposit for ECN account |
High leverage of 1:2000 | Lower leverage may be preferred by some traders |
Commission-free trading on STP and VIP accounts | Commission charged on ECN account |
Demo account available for risk-free trading | Limited information on specific account features |
WeTrade offers traders a choice of four account types to suit their needs. The STP and VIP accounts have a minimum deposit of 50USD and 1000USD, respectively, and both offer commission-free trading. The ECN account requires a higher minimum deposit of 3000USD but offers spreads as low as 0.0 pips with a commission of 7USD per lot. The Affiliate account has the same minimum deposit as the STP account and offers commission-free trading, but with wider spreads. Additionally, a demo account is available for traders who want to practice their trading strategies without risking real money. The high leverage of 1:2000 is available across all account types, but some traders may prefer a lower leverage.
Advantages | Disadvantages |
Well-known and widely used platform | Limited customization options |
User-friendly interface | No built-in economic calendar |
Supports algorithmic trading through Expert Advisors (EAs) | Limited charting capabilities |
Wide range of technical analysis tools and indicators | No mobile push notifications |
Supports multiple order types | Limited timeframes for backtesting |
WeTrade offers its clients the MetaTrader 4 (MT4) platform, which is a well-known and widely used trading platform in the forex industry. The platform is known for its user-friendly interface and wide range of technical analysis tools and indicators, making it a popular choice among traders. Additionally, MT4 supports algorithmic trading through Expert Advisors (EAs), providing traders with automated trading capabilities. However, one of the main disadvantages of MT4 is its limited customization options, making it difficult for traders to create a personalized trading environment. Additionally, the platform lacks a built-in economic calendar and mobile push notifications, which can be a drawback for traders who rely on these features. Lastly, while MT4 supports multiple order types, it has limited timeframes for backtesting, which can be a disadvantage for traders who want to thoroughly test their strategies.
Advantages | Disadvantages |
Allows for potential higher profits with smaller capital | Increases risk of significant losses and margin calls |
Opportunity for greater market exposure and trading opportunities | Inexperienced traders may misuse high leverage, leading to significant losses |
Can be useful for experienced traders with solid risk management strategies | May lead to overtrading or emotional trading due to increased potential gains or losses |
May attract more traders due to the appeal of high leverage | Regulated brokers have limits on maximum leverage, which may restrict traders from taking advantage of higher leverage ratios |
WeTrade offers a maximum leverage of up to 1:2000, which is relatively high compared to other forex brokers. This allows traders to potentially increase their profits with a smaller capital investment and have greater market exposure. However, high leverage also increases the risk of significant losses and margin calls, especially for inexperienced traders who may misuse it or engage in overtrading or emotional trading. Experienced traders with solid risk management strategies may find high leverage useful, but regulated brokers have limits on maximum leverage, which may restrict traders from taking advantage of higher leverage ratios.
Advantages | Disadvantages |
Multiple deposit options | Limited withdrawal options |
No extra fees charged | No information provided on deposit/withdrawal processing time |
No minimum account required | Limited deposit options |
Safe and secure transactions |
WeTrade offers its clients multiple deposit options, including USDT, bank wire, and local deposits. Clients can withdraw funds via union pay and bank wire. WeTrade does not charge any extra fees for deposits or withdrawals. Additionally, there is no minimum account required, making it accessible for traders with different budgets. However, there is limited information provided about the deposit/withdrawal processing time. While WeTrade provides a safe and secure transaction environment, it offers limited withdrawal options compared to other brokers.
Advantages | Disadvantages |
Multiple educational resources available | No dedicated educational section on website |
Economic calendar available for keeping track of important events | Limited customization options for video tutorials |
Market reports and analyst views provide up-to-date information on market trends | No interactive webinars or live training sessions |
Access to a variety of indicators and TV channels for technical analysis | Limited educational resources for advanced traders |
Resources available in multiple languages for wider accessibility | No in-person training or seminars provided by WeTrade |
WeTrade offers various educational resources to its clients to enhance their trading skills and knowledge of the financial markets. The resources include an economic calendar, market reports, video tutorials, analyst views, indicators, and TV channels. The economic calendar keeps clients informed about important upcoming events that could affect the markets, while the market reports and analyst views provide up-to-date information on market trends. The video tutorials cover a range of topics from the basics of trading to advanced strategies, and clients can access a variety of indicators and TV channels for technical analysis. The educational resources are available in multiple languages to cater to clients from different parts of the world. However, there is no dedicated educational section on the website, and the educational resources may not be sufficient for advanced traders seeking more in-depth training.
Advantages | Disadvantages |
24/7 availability | No phone support |
Multiple channels of communication | Response time may vary |
Quick response times |
WeTrade offers a comprehensive customer care service that is available 24/7 through various communication channels such as email, YouTube, Facebook, and line. This provides customers with multiple options to reach out to the support team and get their queries resolved in a timely manner. Additionally, the support team has a reputation for providing quick response times, which ensures that customers' issues are resolved efficiently. However, WeTrade does not offer phone support, which may be inconvenient for some customers who prefer to speak with a representative directly. Moreover, the response time may vary based on the communication channel used, and the nature of the query may also impact the response time.
In conclusion, WeTrade is a UK-based forex broker that is regulated by FSA and LFSA. The broker offers various account types, including STP, VIP, ECN, and affiliate, with competitive spreads and high leverage up to 1:2000. The broker supports various trading instruments, including forex pairs, metals, energies, indices, stocks, and cryptocurrencies. Moreover, WeTrade provides educational resources and customer support available 24/7 via email, YouTube, Facebook, and Line. Overall, WeTrade has some advantages such as competitive trading conditions, a wide range of tradable instruments, and excellent customer support, which make it an attractive option for traders. However, there are also some drawbacks such as limited deposit and withdrawal options, lack of a proprietary trading platform, and no negative balance protection. Therefore, traders should carefully consider their options and weigh the advantages and disadvantages before choosing WeTrade as their preferred forex broker.
What is the minimum deposit required to open an account with WeTrade?
Answer: The minimum deposit required to open an account with WeTrade varies depending on the account type chosen. For the STP or affiliate account, the minimum deposit is 50 USD, for the VIP account it is 1000 USD, and for the ECN account it is 3000 USD.
What trading platforms does WeTrade offer?
Answer: WeTrade offers the popular MetaTrader 4 (MT4) platform for desktop, web, and mobile devices. MT4 is well-known for its advanced charting features, customization options, and automated trading capabilities.
What are the maximum leverage levels offered by WeTrade?
Answer: WeTrade offers a maximum leverage of up to 1:2000 for all account types, which means that traders can open positions that are up to 2000 times the size of their account balance.
What instruments can I trade with WeTrade?
Answer: WeTrade offers a variety of financial instruments for trading, including forex pairs, metals, energies, indices, stocks, and cryptocurrencies. In total, there are over 90 instruments available for trading.
How can I contact WeTrade customer support?
Answer: WeTrade offers 24/7 customer support via email, YouTube, Facebook, and Line. Traders can reach out to the support team at any time for assistance with their account or trading-related questions.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive instaforex and wetrade are, we first considered common fees for standard accounts. On instaforex, the average spread for the EUR/USD currency pair is Fixed 2-7 pips, while on wetrade the spread is EURUSD from 0.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
instaforex is regulated by CYSEC. wetrade is regulated by LFSA,FCA,FSA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
instaforex provides trading platform including Standard Trading Accounts,Eurica Trading Accounts,ECN Trading Account,ECN Pro Trading Account,Scalping trading account and trading variety including --. wetrade provides trading platform including ECN,VIP,STP and trading variety including --.