Score
InstaForex
Japan|2-5 years| https://instantforex.net/
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
Japan
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskUsers who viewed InstaForex also viewed..
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Website
instantforex.net
Server Location
Japan
Website Domain Name
instantforex.net
Server IP
120.136.14.6
Company Summary
| InstaForex Review Summary | |
| Registered Country/Region | Japan |
| Regulation | Unregulated |
| Market Instruments | Copy trading, bitcoin trading and debit card |
| Demo Account | Unavailable |
| Leverage | N/A |
| EUR/ USD Spread | N/A |
| Trading Platforms | N/A |
| Minimum Deposit | N/A |
| Customer Support | Online messaging |
What is InstaForex？
InstaForex, a trading platform offering a diverse range of trading accounts tailored to meet the needs and preferences of various traders. Among its offerings is the Regular account, enabling users to engage in trading activities across various financial markets. Additionally, InstaForex offers the $10,000 Bonus Account. However, InstaForex operates in an unregulated environment. The platform provides online messaging support for customer assistance.
If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.
Pros & Cons
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Pros:
- Bonus Account Option: InstaForex offers a $10,000 Bonus Account, providing an opportunity for traders to potentially increase their trading capital through bonus incentives.
Cons:
- Lack of Regulation: InstaForex operates in an unregulated environment, which may pose risks to investors due to the absence of oversight from regulatory authorities.
- Reports of Unable to Withdraw: There are reports indicating difficulties in withdrawing funds from InstaForex accounts, which raises concerns about the platform's reliability.
- Unclear Trading Conditions: InstaForex lacks transparency in trading conditions such as commissions, swaps, and funding methods, potentially leading to confusion and distrust among traders.
- Limited Contact Channels: InstaForex provides limited contact channels with only online messaging provided, which will hinder effective communication between traders and customer support, resulting in slower issue resolution and dissatisfaction among users.
Is InstaForex Safe or Scam？
InstaForex is currently operating without any valid regulation, indicating a lack of government or financial authority oversight over their activities. This absence of regulation poses significant risks for investors as there is no external body monitoring and ensuring the transparency and legitimacy of the platform's operations.
Products & Services
InstaForex offers a variety of trading products and services to cater to the needs of different types of traders.
- Copy Trading: InstaForex offers a copy trading service where traders can automatically copy the trades of successful traders. Trader fees are automatically collected from the Forex account for profits, with a specified fee deducted from the fixed profit of the copy trading position.
- Bitcoin Trading: InstaForex allows traders to trade Bitcoin, a popular virtual currency, on its platform. Traders can deposit funds into their Forex account using Bitcoin from their own Bitcoin wallet, enabling quick and low-cost fund transfers.
- Debit Card: InstaForex issues MasterCards that allow traders to withdraw money at ATMs nationwide, including Japan Post Bank and Seven Bank. With the Master Debit Card, traders can also enjoy shopping worldwide, offering convenience and flexibility for managing their funds.
Account Types
InstaForex offers different types of trading accounts to suit the needs and preferences of various traders.
Regular Account:
The Regular account provides access to a wide range of trading instruments.
$10,000 Bonus Account:
Minimum Deposit Requirement: The $10,000 Bonus Account, as the name suggests, typically requires a minimum deposit to qualify for the bonus offer.
The $10,000 Bonus Account provides traders with a bonus amount to boost their trading capital. This bonus can be used for trading and increasing the potential for profits. However, traders need to be aware of the terms and conditions associated with the bonus, such as trading volume requirements, before being able to withdraw the bonus funds or profits generated from the bonus. This account type is suitable for traders looking to take advantage of bonus incentives to enhance their trading opportunities.
How to Open an Account？
To open an account with InstaForex, please follow these steps:
| Step | |
| 1 | Fill out the account opening agency and copy trade application request form on the provided link. |
| 2 | Select the fund category as virtual currency (Bitcoin) or currency (USD, yen, etc.) on the application form. |
| 3 | Deposit funds using various currencies or virtual currencies like Bitcoin. |
| 4 | For Bitcoin deposits, funds will be traded in USD regardless of the chosen fund category. |
| 5 | Remit funds from domestic or overseas banks to your InstaForex account. |
| 6 | For new Bitcoin purchases, buy them on an exchange and transfer funds from your wallet to your Forex account. |
| 7 | For existing virtual currencies like Bitcoin, transfer funds from your wallet to your InstaForex account. |
| 8 | Submit identity verification documents, like a passport or ID, after opening your Forex account. |
| 9 | Await confirmation within 72 working hours from InstaForex regarding the completion of document verification. |
| 10 | After remitting funds overseas, inform the secretariat with the details for the start of copy trading. |
User Exposure on WikiFX
On our website, you can see a report of unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. 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.
Customer Service
InstaForex offers online messaging as part of their trading platform. This allows traders to communicate with customer support or other traders directly through the platform. Online messaging can be a convenient way to get real-time assistance or to engage in discussions with fellow traders.
Conclusion
In conclusion, InstaForex presents a mixed picture with both advantages and drawbacks. On the positive side, it offers a bonus account option, access to diverse trading instruments including copy trading and bitcoin trading, as well as convenient customer support through online messaging.
However, significant concerns arise due to its lack of regulation, reports of withdrawal difficulties, unclear trading conditions, and limited contact channels. These issues raise red flags regarding the platform's reliability and transparency, potentially deterring traders from fully trusting and engaging with InstaForex.
Frequently Asked Questions (FAQs)
| Q 1: | Is InstaForex regulated by any financial authority？ |
| A 1: | No. It has been verified that this broker currently has no valid regulation. |
| Q 2: | How can I contact the customer support team at InstaForex？ |
| A 2: | You can contact via online messaging. |
| Q 3: | What services and products InstaForex provides？ |
| A 3: | It provides coping trading, Bitcoin trade, and debit card. |
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 provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
Keywords
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
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