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/10
The WikiFX Score of this broker is reduced because of too many complaints!

InstaForex

Saint Vincent and the Grenadines|5-10 years|
Suspicious Regulatory License|Counterfeit MT4/5|Global Business|High potential risk|

https://www.idifx.com

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Counterfeit

11
Server Name
InstaForex-1Contest.com MT4
Server Location United States

Contact

1-866-800-0719
support@instaforex.com
https://www.idifx.com
https://www.facebook.com/instaforex
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

1-866-800-0719

Broker Information

More

Company Name

Insta Service Ltd.

Company Abbreviation

InstaForex

Platform registered country and region

Saint Vincent and the Grenadines

Company website
Twitter
Facebook

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 5
Previous Detection : 2024-02-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 9 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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    InstaForex · Company Summary

    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

    InstaForex Review Summary in 10 Points
    Founded N/A
    Registered Country/Region Saint Vincent and the Grenadines
    Regulation FSC (suspicious clone)
    Market Instruments Forex,
    Demo Account N/A
    Leverage N/A
    EUR/USD Spread N/A
    Trading Platforms MT4, MT5
    Minimum deposit N/A
    Customer Support Phone, email

    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.

    Pros & Cons
    Pros Cons
    • MT4 and MT5 supported • Unregulated
    • Reports of difficulty withdrawing funds and scams
    • Website currently unavailable
    • Lack of transparency

    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.

    MT4 & MT5

    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:

    Broker Trading Platforms
    InstaForex MT4, MT5
    Global Prime MT4, FIX API, Global Prime Trader (Web Platform)
    JFD MT4, MT5, Guidants
    Markets.com MT4, Marketsx, WebTrader

    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.

      Below are the details about the customer service.

      • Email: support@instaforex.com, clients@instaforex.com

      • Phone: 1-866-800-0719

    Pros Cons
    • Phone and email support available • No 24/7 support
    • Social media support • No live chat support

    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.

    User Exposure on WikiFX

    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)

    Q 1: Is InstaForex regulated?
    A 1: No. It is currently not effectively regulated and you are advised to be aware of its potential risks.
    Q 2: Does InstaForex offer the industry leading MT4 & MT5?
    A 2: Yes. It supports MT4 and MT5.
    Q 3: Is InstaForex a good broker for beginners?
    A 3: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its unavailable website.

    News

    Borussia Dortmund and InstaForex announce extension of successful partnership  I

    NewsBorussia Dortmund and InstaForex announce extension of successful partnership I

    2021-12-08 18:25

    InstaForex and Borussia Dortmund are extending their efficacious cooperation.

    WikiFX
    2021-12-08 18:25
    News
    Borussia Dortmund and InstaForex announce extension of successful partnership  I

    User Reviews

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    User comment

    3

    Comments

    Write a review

    EK92965
    more than one year
    Spreads are waaayyyy too high impossible to make any profit at times because of it. They're more worried about themselves making a profit we end up losing almost no matter what.
    2023-02-24 16:18
    Reply
    0
    0
    A诺伯曼健身找小文
    more than one year
    Be WARE. SCAM. I told the manager and asked that my account be closed and return all my 27,000 but they told me I am a joker and stopped all communication with me.
    2023-02-15 11:16
    Reply
    0
    0
    張倍齊
    more than one year
    InstaForex is a total scam. They absolutely do not pay and constantly ask you for the money. I don’t want to pay more so I request them to close my trading account but no reply.
    2022-12-09 12:10
    Reply
    0
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