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InstaTrade Review 2024

Written By

Christian Harris

Written By

Christian Harris

Christian is a seasoned journalist with decades of experience. He transitioned from tech journalism to finance to follow his interest in investing. He has been trading stocks, futures, forex, and cryptocurrencies for more than 5 years, becoming an eToro Popular Investor. With hands-on expertise across various assets, he offers valuable trading insights.

» Christian Harris Profile Page

Edited By

Jemma Grist

Edited By

Jemma Grist

Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.

» Jemma Grist Profile Page

Fact Checked By

James Barra

Fact Checked By

James Barra

James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.

» James Barra Profile Page

Updated

Sep 13, 2024

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Available in United States

Overall Rating

3 / 5

InstaTrade is #11 in our CFD broker rankings.

Customer Reviews (1)

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Customer Reviews

Regulation & Trust

2.5 / 5

Accounts & Banking

3 / 5

Assets & Markets

3 / 5

Fees & Costs

3 / 5

Platforms & Tools

3.5 / 5

Customer Support

3.5 / 5

Minimum Deposit $1

Trading Platforms InstaTrade Gear, MT4

Instruments FISP, CFDs, Forex, Stocks, Indices, Commodities, Cryptos, Futures

Regulators BVI FSC

Account Currencies USD, EUR, RUB

Payment Options Visa, Mastercard, Wire Transfer, Credit Card, Debit Card, Bitcoin Payments, Ethereum Payments

Pros

• InstaTrade delivers an excellent suite of charting tools for day traders with its web trader comprising 250+ indicators, 11 chart types and a user-friendly design.
• InstaTrade TV, consisting of video interviews and valuable market insights spanning equities, cryptos and more, helps identify opportunities and inform short-term trades.
• InstaTrade claims to "guarantee" returns through the structured element of its passive trading solution (FISP), with applications approved within 24 hours.

Cons

• Marketing of the FISP, especially phrasing around the “guarantee of profitability” and the “elimination of risks of trading on financial markets” raises concerns.
• Profits are only guaranteed in the FISP if investors do not reach the 50% profit level and attract other users with a total sum of $4 for each dollar in compensation.
• InstaTrade is registered in the offshore jurisdiction of the British Virgin Islands, resulting in limited regulatory safeguards for retail investors.

This InstaTrade review examines the day trading environment following firsthand tests and comparisons with suitable alternatives from our 500-strong database of online brokers.

Regulation & Trust

InstaTrade operates under Instant Trading Ltd, which holds a license from the British Virgin Islands Financial Services Commission (BVI FSC).

Caution should be taken because this is not a ‘green-tier’ regulator – authoritative bodies like the UK Financial Conduct Authority (FCA) uphold the most stringent criteria, helping to ensure that brokers avoid unfair trading practices, such as promotions that may encourage over-trading.

However, the primary worry regarding InstaTrade is its lack of participation in compensation schemes, which could potentially cover losses in case of the company’s insolvency.

So although InstaTrade accounts are protected through negative balance protection (you can’t lose more than you deposit), your money isn’t as safe as it would be if you traded with our most trusted broker, IG.

On the positive side, InstaTrade is part of the InstaFintech Group, a globally renowned online trading firm with a relatively long track record since 2007 and over 7 million clients.

Accounts & Banking

Live Accounts

InstaTrade offers two types of accounts: МТ4 ZeroSpread and МВ ZeroSpread.

The МТ4 ZeroSpread account provides standard trading conditions with low commission charges. What stands out is the account’s versatility, allowing you to finely adjust trading leverage and manage deposits according to your preferences. It’s a suitable fit for high-volume traders like scalpers, while giving newer traders more predictability in terms of costs.

The account features cater to trading across various scales, accommodating micro lots of 0.01 lots (with a minimum deposit of $1-10), mini lots (requiring a minimum deposit of $100), and standard lots (with a minimum deposit of $1,000). Expert Advisors are also supported.

With the МВ ZeroSpread account, there are no spread payments. For the majority of currency instruments within this account category, zero spreads are applied, resulting in identical bid and ask prices.

That said, I discovered that the offered price may slightly exceed the bid price due to rounding up half the standard spread for the trading instrument to the nearest whole number, a requirement dictated by certain technical aspects of the MetaTrader 4 platform.

Demo Accounts

InstaTrade also offers a complimentary demo account. Loaded with up to $50,000 in virtual funds, it allows you to thoroughly explore the broker’s range of instruments and services, without any financial risk.

What I’ve appreciated most is the absence of a time limit, unlike the restrictions imposed by many other brokers, such as Pepperstone, typically lasting 30 days.

This enabled me to fully immerse myself in the InstaTrade platform before considering the transition to an account funded with real money.

Christian Harris

Author

Deposits & Withdrawals

InstaTrade offers a very low minimum deposit of just $1, making it particularly appealing for novice traders.

However, there’s a limited choice of base currencies, with only USD, EUR or RUB available. This limitation contrasts starkly with many other brokers in the market, with Interactive Brokers for example, supporting 12+ base currencies.

In terms of managing deposits and withdrawals, there is a diverse array of payment options available, ranging from traditional wire transfers and bank cards to widely used e-wallets and even cryptocurrencies such as Bitcoin. Additionally, local transfer methods are offered.

The processing time for deposits varies depending on the chosen method. Some methods, like PayCo, provide instantaneous crediting, while cryptocurrency transactions may take up to 3 hours, and bank card transactions can extend to 24 hours. Most local transfer methods are typically completed within 2 business days.

Payment processing at InstaTrade occurs from Monday to Friday, between 8 am and 5 pm (UTC), ensuring timely and efficient transactions during operating hours.

One notable highlight is that InstaTrade does not levy charges on deposits or withdrawals, although fees from third-party providers may apply.

Assets & Markets

InstaTrade offers access to an average suite of approximately 300 assets. This selection encompasses various categories, including currency pairs (e.g. EUR/USD), stocks (e.g. Apple), plus commodities like gold, silver, oil and gas.

It also supports a range of cryptocurrencies. These digital tokens can be traded against the US dollar, featuring competitive spreads and a transaction fee of just 0.1%.

However while this range of assets is practical, it falls short in comparison to category leader Blackbull Markets, which boasts over 26,000 instruments and ultimately provides a superior range of trading opportunities.

As an offshore brokerage, InstaTrade stands out with high leverage ranging from 1:1 to 1:1000. This flexibility allows you to select the level of leverage that aligns best with your short-term strategy and risk tolerance.

It’s crucial to bear in mind that while leverage can enhance profit potential, it also amplifies the risk of losses. Accounts on InstaTrade have a 30% margin call and a 10% stop-out level, underscoring the importance of risk management.

InstaTrade also offers notable investment features: Fixed Income Structured Product, PAMM and PIP Systems, and InstaCopy:

• The Fixed Income Structured Product (FISP) claims to provide 50% gains after 6 months of trading, on the condition users attract other traders who deposit 4x any missing amount. Investments range from $2,500 to $250,000. That said, marketing around the “elimination of risks of trading on financial markets” raises concerns – no form of investing is ever risk-free.
• The PAMM System provides opportunities to participate in forex projects either by investing funds into PAMM forex accounts as a shareholder or by accepting investments from other traders. The fairly unique Profitable Investment Portfolios, or PIPs, also allows you to put your funds with “experts with 10 years of experience” with managing traders only earning interest on profitable trades.
• InstaCopy allows for straightforward replication of successful traders’ strategies. This service enables automatic trade copying, with the flexibility for traders to become the copied parties themselves. The reliability of InstaCopy lies in its security features, as followers retain control over their funds and can manually cancel trades if desired, ensuring peace of mind and flexibility.

Fees & Costs

InstaTrade provides zero-spread accounts. This distinctive feature allows you to execute trades with zero spreads and a minimal commission, presenting a significant advantage for those engaged in fast-paced strategies like scalping.

I found that the ZeroSpread account not only facilitates substantial savings on trading expenses due to the elimination of typical high trading fees but also enables you to predict profit amounts more accurately.

That said, despite offering competitive spreads in some asset classes, notably forex and commodities, stocks and indices featured high fees during testing.

Additionally, unlike a growing number of brokers, such as eToro, InstaTrade does not provide interest payments on cash balances. This might be significant for day traders seeking to earn returns on idle funds in their accounts.

Platforms & Tools

InstaTrade has two main trading platforms on offer: MetaTrader 4 and the proprietary InstaTrade Gear.

These platforms offer versatile accessibility, as MT4 can be downloaded onto desktop and mobile devices (Android and iOS), while all platforms can also be accessed through major web browsers.

My experience with InstaTrade’s web trader platform highlighted its suitability for beginners. This platform eliminates the hassle of software downloads, allowing you to initiate and conclude day trades with just a few clicks.

Christian Harris

Author

I’ve found it particularly user-friendly, offering valuable features such as tick charts, a comprehensive trading history, live market news streams, customizable favorites lists, and synchronization with other platforms provided by the broker.

Additionally, the option to choose from three different layouts—Dashboard, Classic, and Chart—further enhances the day trading experience.

For more advanced traders, InstaTrade’s Multiterminal platform is designed for traders and account managers handling multiple InstaTrade accounts simultaneously. This platform, installable on Windows-based computers, streamlines the management of several accounts across different servers through a single interface.

This feature should prove invaluable for efficient trade execution, applying changes, and monitoring the performance of multiple accounts without the need for constant logging in and out.

InstaTrade’s dependable VPS hosting service offers an additional advantage for traders aiming to operate beyond regular trading hours.

This Virtual Private Server, functioning just like a standard computer housed in a data center, provides exclusive access and can be linked to tablets or phones, enabling day trading operations during nighttime or off-peak hours at minimal additional cost.

Research

For seasoned traders, the daily market analyses provided by over 30 forex experts are invaluable. These analyses are complemented by regular news updates, technical summaries, an economic calendar, and price predictions, offering a wealth of information to inform trading decisions effectively.

I’ve also found that tools for calculating dividends and forecasting profits and losses useful, and the trading clock, which visualizes worldwide trading sessions, provides a neat way to monitor market activity and plan short-term strategies accordingly.

A standout feature is InstaTrade TV, which offers various video interviews, detailed trade analyses, and strategic advice. This resource has proven to be highly informative, providing valuable insights into market trends and trading strategies.

Christian Harris

Author

Furthermore, I’ve found the broker’s blog to be a great read for crypto enthusiasts like myself, offering additional perspectives and analysis on cryptocurrency markets and trends.

Education

The brokerage’s extensive educational resources are commendable, especially for beginners. These resources encompass a wide range of learning materials, including video tutorials, glossaries of essential terms, online training programs, and a comprehensive repository of articles and resources.

While exploring these resources, the only aspect I noticed missing was a structured learning course that would have provided distinct lectures, allowing me to filter content based on my experience level.

In terms of diversity and quality, however, the materials offered by InstaTrade fall short compared to what’s available from category leaders, such as IG and eToro.

Customer Support

InstaTrade offers dependable customer service, accessible 24/7 in 17 different languages.

The broker offers convenient live chat options via platforms like Skype and Telegram. Despite the absence of a telephone number, there is the option of a call-back request. Moreover, the extensive help center, filled with a wide array of FAQs, serves as a valuable resource for further assistance.

I’ve found the live chat system to be the most effective in resolving issues. Whether I’ve had general questions about registering for a real account or faced urgent matters like login difficulties, the staff members have been responsive and knowledgeable, providing prompt solutions to my queries.

Should You Trade With InstaTrade?

InstaTrade is a reasonable choice for an online brokerage, especially if you’re interested in passive investment opportunities. It shows promise, offering a varied selection of trading assets and supporting traders with an excellent collection of research tools and a responsive online chat system.

Though it may not be the most distinguished in the field, its comprehensive functionality equips it to serve a wide range of day traders, from the experienced to those just starting out.

FAQ

Is InstaTrade Legit Or A Scam?

Its parent company, InstaFintech Group, has been operating in the financial markets since 2007. Over the years of its operation, the company has attracted more than 7,000,000 traders from over 140 countries.

Is InstaTrade A Regulated Broker?

InstaTrade operates under regulation from the British Virgin Islands Financial Services Commission (BVI FSC), an offshore body.

The firm does not participate in compensation schemes that could cover losses in the event of the company’s insolvency. These factors represent significant disadvantages.

Is InstaTrade Suitable For Beginners?

InstaTrade can be suitable for beginners, especially as it offers an easy-to-use proprietary web platform, excellent research resources, and responsive customer support.

The availability of an unrestricted demo account can further help beginners with their learning curve and trading goals, and the InstaCopy service allows you to duplicate trades of successful traders even when you are away from your computer

Does InstaTrade Offer Low Fees?

Trading fees differ based on the financial instrument. And although they are generally competitive, they can be bettered.

Additional costs to consider include swap fees for positions that remain open overnight. Moreover, some traders may face conversion fees, as the broker only provides USD, EUR and RUB base currencies.

Is InstaTrade A Good Broker For Day Trading?

InstaTrade offers attractive pricing and trading conditions that should meet the needs of day traders. The brokerage provides a varied range of instruments, and support for MetaTrader delivers dependable platforms equipped with a broad array of technical indicators. InstaTrade allows scalping, too.

Top 3 Alternatives to InstaTrade

Compare InstaTrade with the top 3 similar brokers that accept traders from your location.

1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
   Go to IG
2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
   Go to Interactive Brokers
3. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
   Go to World Forex

InstaTrade Comparison Table

Compare Trading Instruments

Compare the markets and instruments offered by InstaTrade and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

InstaTrade vs Other Brokers

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