- June 2015
- Posted By Ninoslav
- 2 Comments
At this point, online brokers might seem like a dime a dozen, though that’s only if you haven’t taken the time to search for the right broker for your needs.
While there are larger and popular online brokers out there, a forex trader sometimes wants to find a forex broker that’s smaller and, ultimately, reliable. InstaForex might not be that popular or that big, but it provides a set of forex-related features that help people get off the ground—and back into forex trading.
InstaForex, as an online forex broker, offers traders the opportunity to trade across over 100 currency pairs. They also offer other trading options, too, covering a wide variety of financial instruments available for trade. While the site itself isn’t as intuitive as comparable brokers, the trading platform it uses easily lets people make trades—perhaps the most important thing to keep in mind.
Established: 2007, in Belize.
Type: Online financial exchange broker.
Financial Instruments For Trade: currency pairs (forex), contracts for differences, currency options, stocks, commodity futures and precious metals.
Trading Platforms: InstaTrader
Minimum Initial Deposit: $10 USD
Account Types: Standard and Eurica account.
InstaForex also offers ‘swap-free’ accounts for users who can’t use standard forex trading accounts, due to religious reasons. Each account type determines whether a trader might have to pay InstaForex additional fees.
The forex broker’s Standard Account suits most traders who use their site; the account type allows micro, mini and standard lot sizes, the fixed spreads being between 3 to 7 pips. The Eurica trading account, on the other hand, works without spreads. It instead applies a dealing commission per trade, typically running from 0.03 percent to 0.07 percent.
The current leverage-margin for InstaForex goes up to 1:1000; traders may also be subject to additional bonuses up to 30 percent.
Why Use This Broker?
There are many reasons to use InstaForex, though most of those reasons lie in its wide selection of financial trading and investment tools, in addition to their actively-refreshing market data fees. Besides that, they also offer more features that make using their service much easier. That lies in their copy trading and third party account management service (PAMM).
Traders who are interested in registering for InstaForex should know that besides their live trading accounts (Standard and Eurica), they also have demo accounts. Of course, to use their forex brokerage services, you do have to download their InstaTrader client, which is based off the MetaTrader 4 platform.
If you’re looking for a good enough forex broker for your needs, InstaForex might be the one you’re looking to use. While it’s not the most intuitive site, it packs in enough features to satisfy most forex traders