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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 Regulatory License|White label MT4|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
United StatesContact
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 :
2024-04-18
- 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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Exposure
9 pieces of exposure in total Pyramid scheme complaint
Expose Unable to Withdraw
Refusal of withdrawal
This broker took my 3140 South African rands.And refused my withdrawal
2021-07-01 21:17
Scam
Fake Bonus, Has been a rise of scamers lately 2021.
The words of a heart broken client "me...he said he didn't ve money and I was begging even for $50 investment. Two weeks ago he called me and said he was ready and I directed him to instaforex office to open an account. He went there and deposited $150 and was given a bonus of $150...making the account $300. forex should stay clear of instaforex... They have ruined my week so I ve converted the money there as a demo account in a live account to practice with... Scam is instaforex". Q:WHY?
2021-11-04 22:06
Severe Slippage
#meta #fb counter doesn't respond
While the stock opened there is frozen candle and it takes more then 10 minutes, I even chat via online and raised this issue, unfortunately their respond are very unpleasant and unprofessional, delaying the problem without giving right solutions. platform : MT4 server : instaforex-SINGAPORE.com leverage : 1: 600 counter : #meta #fb
2022-08-19 00:07
Unable to Withdraw
Please be aware
Withdrawal suddenly disappeared from pending, there is no notice showing either its rejected or processed, the finance department kept giving tons of excuses. Now the worse is I cant even log in to the web even after I changed/restore a password
2022-02-19 11:25
Unable to Withdraw
Able to deposit, but not withdraw
It is able to deposit, but it said that there is deposit record during withdrawl
2021-12-16 00:10
Unable to Withdraw
Insta Forex Is a master of scamming!
I opened on April 2018 a trading account with Instaforex company. My strategy is based on news trading (I open the trades few minutes prior to the event to profit from volatility) and I had no problems during my trading experience with them as Instaforex allows news trading. Instaforex company cut my profits according to a clause from the agreement that says the following: “5.12. When the price change, connected with the a difference between the instrument last price at market close and the instrument first price at market open, or connected with news release, leads to a profit higher than 10% of the initial deposit, the Company reserves the right to use correction of such trade financial result in the size proportionate to the difference of the above mentioned prices in pips, But when I faced them with the fact that this clause wasn’t applied to my other trades even though all my trades were during news releases, they sent me back this response:
2021-09-15 19:08
Scam
Brokers Like Instaforex Are Robbers
Brokers like Instaforex are robbing our money. Some of the CEOs are dato's, showing themself openly in facebook and general public and marketting FOREX. Just curious about our authority. They are just putting out a collective letter saying these MLM and FOREX companies are not regulated... Not regulated means what[3f][3f] Does that means they these companies are wrong[3f] Crime going on[3f][3f] source: lowyat
2019-11-11 12:17
Scam
I lost my profit to instaforex.
I have faced yesterday. I lost $500 profit. After it comes to near deposit amount they will cancel all.My balance was 1360 (deposit 856 & profit more than 500 profit. ). Finally my balance is 2.28 . Loss -853 . So what happen to profit. They ate it. This is instaforex BAD SIDE.
2021-09-10 16:37
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 |
| • MT4 and MT5 supported | • Unregulated |
| • Reports of difficulty withdrawing funds and scams | |
| • Website currently unavailable | |
| • Lack of transparency |
InstaForex Alternative Brokers
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.
There are many alternative brokers to InstaForex depending on the specific needs and preferences of the trader. Some popular options include:
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:
| 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.
Email: support@instaforex.com, clients@instaforex.com
Phone: 1-866-800-0719
Below are the details about the customer service.
| 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.
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. |
User Reviews
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User comment
3
CommentsWrite 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
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
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 9
