Binary Options and Forex Trading in Singapore

InstaForex Singapore Review

InstaForex Singapore Review 2023

InstaForex emerged as an International Forex Broker in 2007, and today it has over seven million traders from all over the world. It offers over 300 trading instruments, which include Currency pairs, Stocks, Metals, Commodities, and Cryptocurrencies. InstaForex Singapore is one of the most trusted Forex brokers in Singapore and offers Forex and CFD trading services to traders with the lowest minimum initial investment requirement.

InstaForex complies with multiple regulators with an international reputation and local offices in several countries. It is licensed and authorized by the Financial Services Commission (FSC) of the British Virgin Islands (BVI) as Insta Trading Ltd under the Securities and Investment Business Act (SIBA) for it international operation.

In 2013, FSC, BVI signed MoU with the regulators of 31 European countries, which is about the joint assistance in supervising investment funds. This confirms the respectful role of the FSC, BVI as a regulator and that the jurisdiction of the BVI is well recognized worldwide. Hence while trading with InstaForex Singapore, you can trade peacefully without worrying about the trustworthiness of the broker.

InstaForex Review 2023

The Trading Platform

InstaForex has taken the traditional way by selecting MetaTrader 4 and MetaTrader 5 as its platform along with Web Trader, and Mobile trading platforms. The MetaTrader 4 platform is fast and easy to use. It is the most widely used Forex trading platform with unlimited capabilities to use Indicators, Expert Advisors (EAs) and Automated trading strategies.

The traders who wish to have an advanced trading platform like MT4, can use MT5. The MT5 platform is superior to its predecessor MT4 in many ways. The traders can get faster execution, availability of more timeframes, more indicators, and chart types.

As a well-established, carefully created, and sturdy trading system, MT4 does almost everything a trader could need. You can register for a Free Demo Account with InstaForex Singapore to get access to a fully functional Free MT4 demo account.

Spread & Commission

InstaForex uses spreads and commissions for its platform, which vary according to the account type you own as with the broad majority of online broker services. InstaForex offers two different account forms: Standard and Eurica.

The main difference between these account types is the process of spread and commission. Standard accounts use spread, while Eurica accounts use commission. For InstaForex traders in Singapore, spreads can be anywhere around 2-7 pips for a Standard Account.

Bonus Deposit – InstaForex Singapore

InstaForex offers a number of attractive Bonus deposit schemes to the traders. Like any other Forex brokers, the InstaForex Bonus deposit also comes attached with certain terms and conditions before it can be withdrawn.

100% Bonus – The traders can avail of this 100% on the first-time deposits. This is available to the traders who register on InstaForexPlatform for the first time. Any other bonus can not be combined with this bonus.

55% Bonus – This bonus is available on every subsequent deposit after the first time deposit.

30% Bonus – This bonus is available on every deposit and can be combined with the Club Bonus.

Club Bonus up to 40% – Club Bonus up to 40% is available to InstaForex Club members. This Bonus is compatible with the 30% bonus. Hence traders can take benefit from both the bonuses.

InstaForex Trading Instruments

InstaForex serves as a Forex and CFD broker with a broad range of different assets provided for trading. Right now, there are about 107 various currency pairs available, enabling a complete and comprehensive variation of tradable assets for traders. You can also trade Indices like DAX, FTSE, and DOW JONES, commodities like Oil, Gas, and Metals like Gold and Silver, to name a few. InstaForex offers more than 88 CFD on US stocks. Hence with InstaForex Singapore, you never run out of attractive trading opportunities, assets, or instruments.

Leverage

One of the advantages of selecting  InstaForex for online Forex trading in Singapore is the choice to select leverage that fits you.

With the Eurica account, traders can choose leverage from 1:1 through to 1:1000. The ECN Pro Account has a maximum leverage of 1:30, which complies EU regulation on Forex trading for European customers.

Mobile Apps

InstaForex eases trading through the well-developed MT4 system, including the capacity to access their trades from a mobile device.

The company gives a variety of various mobile applications and services as part of its broader offering. It includes the MobileTrader app, can be downloaded on Google Play and the iOS App Store.

InstaForex is well-stabilized with the various features it grants to mobile users matched to some desktop-only platforms.

The main trading app has been, however, liked by many traders and is a highly ranked app.

Payment Methods

InstaForex allows multiple ways for deposits and withdrawals, designed to give their traders with something that is easy and accessible for anyone and anywhere globally. The Forex traders in Singapore can fund their account by using local bank transfer in addition to multiple online deposit methods.

The platform also requires no deposits or withdrawals charges, though bank or system transfers may involve fees depending on the process you use. Payment modes include:

  • Bank Wires – 2-3 business days processing
  • Credit and Debit Cards – 24 hours timeframe
  • MoneyBookers/Skrill – 24 hours processing, USD only
  • Solidtrustpay – completed instantly, USD only.
  • Neteller – completed instantly.
  • PayCo – completed instantly.
  • UnionPay – up to 7 hours, CNY only.
  • Bitcoin – completed instantly, Bitcoin only

With this broad choice of payment methods, there’s something to accommodate traders worldwide. Nigeria, Malaysia, and Singapore are three leading markets for trading, and Instaforex has proposed to give a variety of payment methods accessible in those areas.

Demo Account

The platform grants a full demo platform to support amateurs or experienced traders to sharpen their abilities and work around with the MT4 system on top of the extensive array of various accounts the company offers for live traders.

The InstaForex demo account is loaded with virtual money. It would give you a good idea of what live trading through this system might look like and feel like. For those that have been out the game for a while or new traders, the demo account is an excellent means to go back into the game and learn the various process of InstaForex’s system. 

Regulation and Licensing

InstaForex complies with multiple regulatory bodies and offers trading services globally. The company is owned by InstaVector Ltd and is fully authorized by the Russian Central Bank.

InstaForex complies with the British Virgin Islands’ Financial Services Commission (FSC) for its global operation. BVI FSC is a prestigious regulatory body with full acceptance globally. InstaForex uses safe and secure payment methods and keeps the money in segregated accounts.

Additional Features 

ForexCopy and PAMM System

One point that is becoming usual in the industry is the use of social trading. InstaForex ForexCopy System is a type of Social trading which enables traders to benefit by copying a professional trader’s trades in their own account automatically. It is also advantageous for the professional traders too, they can charge a fee for offering their trades for copying. ForexCopy System is managed under the efficient supervision of InstaForex and is coupled with robust technology for copy trading management. InstaForex Copy trading has a list of well performing traders whom you can select to copy. The Copy Trading providers under go a stringent ranking process so that the traders get the best performing providers to copy. Check out more Forex Copy Trading providers in Singapore.

In addition to Forex copy trading, they also offer Forex managed accounts through InstaForex PAMM System. The investors can invest in any PAMM system of their choice, the PAMM System trader trades the invested money in the account and generates profit.

Account Types

InstaForex has chosen to go down the more is more method, unlike many popular brokers that cling to one or two different accounts. They offer five different accounts; some contain added sub-accounts to improve difference and give a customized experience to traders. The accounts offered are the following:

Standard

Standard accounts give all the core features that would suit a normal user with the joined advantage of being able to adjust their leverage and deposit amount.

For newcomers, there’s a maximum deposit limit to avoid them from using all their money too hastily. Currencies used are in EUR, USD, and GBP, and there are no restrictions on what you can deposit.

Eurica

The Eurica account is a viable option for new traders. They can select their leverage, though fixed fees will exert to all trades and no spreads required. Money is in EUR, USD, and GBP, and there’s no cap for deposit at all. 

ECN

ECN accounts are created for the next level of traders, with a higher level of adaptability in-market execution, and with access to all trading features and no fees needed. Currencies are in EUR and USD, and the minimum deposit is 100 EUR. 

ECN Pro

ECN Pro claims all the same hallmarks as an ECN account. But it will have a minimum deposit of 1000 EUR, causing this account type, not for irresponsible traders. Regarding the execution type, this account uses market execution rather than an instant. The contrast here is a lessened volatile spread, to promote higher-investment traders to try the platform. 

Scalping

Fixed spreads, no fees in trading, and fast execution speed make scalping attractive to traditional traders who want to scalp trade. InstaForex accounts can serve the scalp traders with its fast execution speed and fixed spread.

Drawbacks

Despite the numerous excellent features in support for InstaForex, it’s also worth knowing the disadvantages that come with this platform.

Since InstaForex hasn’t decided to build its wholly-owned system, the outcome is less on-brand and refined, something that several traders seek in platforms now.

The absence of sufficient and powerful plugins for MT4 indicates that you’re getting the basic experience, with none of the outstanding operations of more equipped types.

Final Verdict – InstaForex Singapore

InstaForex Singapore is a reliable choice for an online Forex trading in Singapore. It uses prominent technology such as MT4 and MT5 along with Mobile Platforms to give an exceptional experience to traders and guarantees the protection of their clients through decent regulation and efficient safety solutions.

If you’re searching for a trading platform that grants a wide assortment of various trading choices, then InstaForex might be worth trying. Although the spreads are comparatively high with InstaForex, it is still a preferred broker in Singapore due to its localized service in Singapore in terms of local bank deposits and local support offices.

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