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

InstaForex

Saint Vincent and the Grenadines|5-10 years|
Suspicious Scope of Business|High potential risk|

https://www.idifx.com

Website

Rating Index

Contact

+1 866-800-0719
clients@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

Other ways of contact

Broker Information

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Company Name

Insta Service Ltd.

Abbreviation

InstaForex

Platform registered country and region

Saint Vincent and the Grenadines

Company website
X
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Pyramid scheme complaint

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Warning: Low score, please stay away! 4
Previous Detection : 2024-12-07
  • 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!
  • The The Virgin IslandsFSC regulation (license number: SIBA/L/14/1082) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The The Virgin Islands FSC regulation with license number: SIBA/L/14/1082 is an offshore regulation. Please be aware of the risk!

WikiFX Verification

InstaForex · WikiFX Survey

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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

InstaForex Lucky Trader Contest

NewsInstaForex Lucky Trader Contest

2024-11-11 17:24

The LUCKY TRADER CONTEST is calling you out! InstaForex has introduced a Lucky Trader Contest for users. Attention! Don't miss this chance to win a prize of $6,000!

WikiFX
2024-11-11 17:24
News
InstaForex Lucky Trader Contest
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

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