Instaforex is the brand name of the Instaforex Group. The Instaforex brand was created in 2007 just before the global financial crisis, and has been able to garner a client pool of more than 7,000,000 traders. This success was hinged on the company’s customer incentive policy, which served to attract clients to its brand at a time when trading morale was at all-time lows following market crashes the world over.
Presently, Instaforex operates from several global offices which have been strategically sited to provide a good geographical spread, as well as to present the company’s products and services to the global audience, taking into account the unique needs of each segment of the global trading population.
Instaforex offers a limited range of trading platforms for its clients. These platforms cover desktop versions, mobile versions and browser-based versions. The platforms offered are:
The MT4 retail forex platform offered by Instaforex is compatible with Windows PCs. It cannot be used by Mac users. The platform also comes with mobile versions for use on iOS devices as well as Android smartphones and tablets.
Instaforex has also keyed in to the attempt by Metaquotes Inc (makers of the MetaTrader platforms) to entrench the MT5 as the successor to the MT4 in the market. Therefore, users of Instaforex are now being offered the MT5 platform. Mobile versions of the MT5 platform are also available.
For those who trade multiple accounts and fund managers who need instant executions on several accounts with the click of a single button, Instaforex has the perfect solution: the Multiterminal. Based on the MT4 and MT5 platforms, the Multiterminal features several account management tools which are not found in the standalone platforms. This software is incompatible with Mac computers.
FX Rates Viewer
Though not a trading platform per se, the FX Rates Viewer is a platform which is built to enable users get a pulse on the market. With the Instaforex FX Rates Viewer, a small desktop window that comes with a user-friendly interface appears to show movements of currency pair rates, so that traders do not have to keep switching between charts to know what is going on with other pairs. This software works only on Windows PCs.
IFX Options Trade
InstaForex offers the IFX Option Trade, a trading platform specifically for its options traders. Buy and sell various options types and monitor your trade history.
Instaforex offers a variety of assets across several asset classes. Traders on Instaforex can expect to encounter assets traded in the following markets:
- Forex options
- Spot Metals
- Commodity futures
Not all assets are available for trading from one single account. Traders will have to specify the account types they want according to their trading instrument preferences.
Instaforex provides a customer service feature which provides support to its clients on the basis of geography. Apart from a general Clients’ Relations Desk which operates from 0800 -1700 hours UTC, Instaforex operates the following support channels, strictly for its 24-hour technical support department.
- Email: This operates for 24 hours and specific support can be accessed using [email protected]
- Yahoo Messenger: “instaforex.service” or “ifx.consultant”
- Skype: “instaforex.support” or “ifx.support”
- ICQ: 350070300 or 412795787 or 424653476
- Twitter: @ifx_support
- Phone: +44 2037699172 (general inquiries).
- Online Contact Form: This is mostly used for feedback on the services provided by Instaforex
Clients Relations Department can be reached using the following channels:
- E-Mail: [email protected]
- Yahoo Messenger: “IFX.Clients” and “instaforex.clients”
- Skype: ifx.consultant and ifx.clients
- Whatsapp: +447418450528
- Viber: +447418450528
- Phone: +442037699181
Security and Fairness
Over the years, Instaforex has expanded globally and in recognition of the need to accord legitimacy to its brokerage operations worldwide, the company has acquired the following licenses:
- In Cyprus, the brand is registered as Instant Trading EU Ltd. The Instaforex brand is licensed by CySEC, with license number 266/15. This license was acquired in 2015.
- In the United Kingdom, the brand is registered as InstaForex IT UK Ltd and is authorized by the Financial Conduct Authority (FCA) with reference number 728735.
- Instant Trading Ltd (BVI) is licensed by the British Virgin Islands Financial Services Commission (FSC) with license number SIBA/L/14/1082.
- The brand also operates in St.Vincent and the Grenadines as Insta Service Ltd. It is registered with the Financial Services Commission (FSC) of Saint Vincent with Reg. Number IBC22945.
Multiple licensing accords the brand a great degree of legitimacy. It also gives traders resident in the respective regions peace of mind, knowing that regulators will ensure transparency in the brokerage conditions under which they trade.
What are some of the advantages of trading with the Instaforex trading platform? Some of these benefits include:
- Instaforex is a regulated company with licensing from multiple regulatory bodies.
- There is plenty of information with regards to the contract specifications of assets traded on the Instaforex platforms.
- Instaforex uses high-grade 256-bit encryption to ensure protection of traders’ account details.
- Instaforex maintains a very robust, customer-centred support service. The Live Chat facility is extremely helpful in helping new traders get going in their trading operations.
- Instaforex has a variety of trading tools which it places at the disposal of its traders.
- There are loads of trading contests where winners can take home fantastic prizes.
Though the Instaforex brand has tried to maintain acceptable industry standards in its operations, there are still a few complaints with its service. These cons include:
- Instaforex operates a market maker model of brokerage operations and some users have complained about incidents that resemble conflicts of interest on their platforms.
- Slippages and re-quotes are regular occurrences, especially when volatility is high in the market.
- The Instaforex website is not user-friendly as it contains too much clutter. This makes it hard for traders to navigate the platform for educational resources.
Instaforex came into the market with a customer-incentive model which has worked very well for it. There are lots of trading contests which motivate traders to better their performances, apart from the benefit of potentially being in line for prizes that are awarded. However, the brand still needs to do more work to be able to compete favourably with other established brands in the market, especially in the areas of trade transparency and trade execution speeds.