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InstaForex Review

 

InstaForex offers some of the best trading technology globally. South Koreans can choose from flexible account types with a low 1,400 KRW ($1) minimum deposit. InstaForex offers a lucrative $1,000 no-deposit bonus to new traders.

Updated : June 19, 2024

Jump to:

Overview

Regulation and Safety of Funds

Awards and Recognition

Account Types and Features

Account Registration

Broker Comparison

Trading Platforms

Range of Markets

Fees

Deposit and Withdrawals

Education and Research

Bonuses and Promotions

Affiliate Programs

Customer Support

Social Responsibility

Final Verdict

Pros and Cons

FAQ

Overall Rating

Min Deposit

USD 1

Regulators

CySEC, FSC

Trading Desk

MT4, MT5

Crypto

Yes

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

Overview

 

InstaForex has carved out a space by combining a global presence with specialized knowledge in the vast online brokerage field. Since its establishment in 2007, this broker has grown to serve more than seven million clients globally. What sets them apart?

Their secret is diversity. InstaForex provides diverse trading products, including standard forex pairs CFDs on stocks, commodities, and indices. This varied portfolio can accommodate traders with varying risk tolerances and investing strategies.

 

South Korean traders, in particular, have a distinct advantage with InstaForex. The broker provides a range of unrivaled perks, including a 30% bonus even during drawdowns, demonstrating InstaForex’s unwavering dedication to improving clients’ trading experiences.

Their pioneering mentality is evident as they were the first to offer live accounts on MetaTrader 5, and they continue to lead with nine trading servers on the platform.

InstaForex exhibits a thorough awareness of the South Korean market by offering over 300 commodities, including currency pairings, CFDs, and even bitcoin.

 

Their leverage choices range from 1:1 to 1:1,000, allowing traders to limit their risk efficiently. InstaForex conveniently accepts various payment methods, ensuring that transactions run smoothly.

InstaForex’s devotion to the South Korean community is visible in its multilingual customer service, which ensures that traders are always assisted. Their specialized solutions include Islamic accounts, which cater to some clients’ preferences for ethical trading techniques.

 

How many clients does InstaForex serve globally?

InstaForex serves over seven million clients worldwide, indicating its broad reach and popularity among traders.

 

What kind of trading products does InstaForex offer?

InstaForex provides a wide choice of trading products, including basic forex pairs, CFDs on stocks, commodities, and indices, to suit various trading strategies and risk appetites.

 

InstaForex at a Glance

📊 Year Founded2007
🏛 Local Market Regulators in South KoreaBVI FSC, CySEC, FSA SVG, FCA
🌎 Ease of Use Rating5/5
💻 BonusesYes, 100% bonus, 55% bonus, 30% bonus, Club Bonus, No-Deposit Bonus
📞 South Korean -based customer support?24/5
📱 Trading PlatformsMetaTrader 4, MetaTrader 5, WebIFX, InstaForex Multi-Terminal, InstaForex WebTrader, InstaTick Trader, InstaForex MobileTrader
🛍 Account TypesInsta.Standard, Insta.Eurica, Cent.Standard, Cent.Eurica
✔️ Base CurrenciesUSD, EUR
📈 Maximum LeverageUp to 1:1000
📊 Starting spreadFrom 0.0 pips
📊 Currency Pairs110; minor, major, and exotic pairs
💳 Minimum Deposit (KRW)1,400 KRW ($1)
💻 Languages supported on the WebsiteEnglish, French, Malay, Dutch, Italian, German, Simplified Chinese, Slovakian, Polish, Vietnamese, Portuguese, Spanish, Romanian, and more.
⏰ Fees and Commissions Spreads from 0.0 pips, commissions from 0.3%
✔️ Regional RestrictionsThe United States
💻 Tradable AssetsForex, shares, indices, precious metals, energies, commodity futures, cryptocurrencies, InstaFutures
☪️ Islamic AccountYes
✔️ Affiliate ProgramYes
📊ScalpingYes
📈HedgingYes
💻 Inactivity FeeYes, 5 EUR after 3 months of inactivity
👉 Open Account👉 Open Account

Regulation and Safety of Funds

Regulation and Safety of Funds

 

Regulation in South Korea

InstaForex is not regulated by South Korea’s Financial Services Commission (FSC). However, InstaForex’s global regulations are listed in the table below.

 

Global Regulations

📱Registered Entity 🌎Country of Registration ✔️Regulatory Entity 🔎Regulatory Entity📊Tier 💳License Number/Ref
Instant Trading EU LtdUnited KingdomFCA1728735
Insta Trading EU LtdCyprus266937CySEC2266/15

Instant Trading LtdBritish Virgin IslandsBVI FSC3SIBA/L/14/1082
Insta Global LtdSaint Vincent and the GrenadinesSVG FSA324321

 

Protection of Client Funds

🔎Security Measure 📱Information
Segregated AccountsYes
Compensation Fund MemberNo
Compensation AmountNone
SSL CertificateYes
2FA (Where Applicable)Yes,
Privacy Policy in PlaceYes
Risk Warning ProvidedYes
Negative Balance ProtectionYes
Guaranteed Stop-Loss OrdersNo

 

What level of regulation does the FCA offer InstaForex?

The FCA regulates InstaForex at tier 1, offering the highest regulatory monitoring and protection level.

 

Does InstaForex employ segregated accounts to hold client funds?

Yes, the broker uses segregated accounts to keep customer funds separate from the company’s operating capital.

Awards and Recognition

Awards and Recognition

 

InstaForex is a multi-award-winning broker, and here are its latest awards:

  • In 2024, ShowFx World named InstaForex the “Best Broker in Asia.”
  • In 2023, InstaForex was named Best Forex Broker at the Forex Traders Summit Dubai, demonstrating its expertise in the Forex trading industry.
  • InstaForex was named the Most Reliable Forex Broker of the Year Global in 2023, demonstrating its dedication to offering dependable trading services to clients globally.
  • The company’s dedication to great customer service was recognized with the Best Customer Service Broker 2024 award by International Business Magazine.

InstaForex Account Types and Features

InstaForex Account Types and Features

 

Not only does InstaForex offer solutions to all types of traders through four flexible account types, but there is a low minimum deposit to get started with this versatile broker. Keep reading to discover what InstaForex accounts can offer South Koreans.

 

💻 Live Account 📉 Minimum Dep.👉 Open Account📊 Leverage💰 Commissions
➡️Insta.Standard1,400 KRW ($1)👉 Open Account1:1000None; only the spread is charged
➡️Insta.Eurica1,400 KRW ($1)👉 Open Account1:1000From 0.03% to 0.07%
➡️Cent.Standard1,400 KRW ($1)👉 Open Account1:1000None; only the spread is charged
➡️Cent.Eurica1,400 KRW ($1)👉 Open Account1:1000From 0.03% to 0.07%

 

Demo Account

Demo Account

 

The demo account provides experienced traders and novices with a risk-free practice field. It is a trading simulation where South Koreans can practice with virtual money, which ranges from 5,000 to an astounding 1,500,000 USD.

For people who are just starting out in forex trading, this is a great chance to obtain useful experience without worrying about losing money.

South Korean traders will find it easy to open an test account. Just a brief signup process will get you an email with your account number and password.

 

From there, you can simply install trading software such as MetaTrader 4 or 5 and start trading. Feel free to experiment by creating additional demo accounts to test alternative methods or get a feel for the site.

The attractive thing about the demo account is that you can use it for as long as you need. Before starting actual trading, we found that this unique characteristic gives you plenty of opportunity to polish your strategy and become at ease with market dynamics.

In our experience, compatibility with the Insta.Standard, Insta.Eurica, Cent.Standard, and Cent.Eurica accounts make the demo account extremely flexible.

 

Insta.Standard Account

Insta.Standard Account

 

The Insta.Standard account is a versatile choice that caters to a wide spectrum of traders. It is ideal for South Koreans who prefer a traditional spread-based pricing model with no additional commissions.

You can customize your trading experience by modifying the leverage and deposit size to your comfort level, making it appropriate for both newbies and experienced traders.

 

Insta.Eurica Account

Insta.Eurica Account

 

Designed for beginners and those who value technical analysis, the Insta.Eurica account reduces spreads on most currency pairs.

This signifies that the bid price equals the ask price, which simplifies trade execution and makes technical analysis easier.

We have to mention that while the spread is zero, the offered price is somewhat higher than the bid price, which is rounded up to the nearest whole number due to the technical characteristics of the MetaTrader 4 platform.

 

Cent.Standard Account

Cent.Standard Account

 

Designed for beginners, this account has a low entrance barrier of just 1,400 KRW ($1) and allows trading in micro-lots. This allows you to test your trading methods at low risk while still having access to all of the benefits of a conventional account.

The Cent.Standard account operates on a conventional spread-based pricing mechanism with no commissions.

 

Cent.Eurica Account

Cent.Eurica Account

 

The Cent.Eurica Account combines the characteristics of the Insta.Eurica and Cent.Standard accounts, making it ideal for South Korean beginners looking to learn the ins and outs of trading without the complications of spreads.

This account offers micro-lot trading and a minimal minimum deposit, similar to the Cent.Standard account. The zero-spread feature simplifies technical analysis and trade execution, making it ideal for beginners and those who prefer a commission-based pricing model.

 

Islamic Account

To follow Islamic banking rules, InstaForex offers a special Islamic Account option. This one-of-a-kind account type doesn’t charge swap fees, which means that positions kept overnight don’t earn interest.

That is why it is a great choice for Muslim traders who want to trade on the forex market without breaking Sharia law.

Notably, InstaForex offers this Islamic Account for all of its account types, such as Insta.Standard, Insta.Eurica, Cent.Standard, and Cent.Eurica.

 

This means Muslim traders can use any account they want and enjoy its features and dealing conditions. They can also benefit from not having to deal with swaps.

Even though this feature is helpful for many, it’s important to note that people who live in South Korea might not be able to use InstaForex’s Islamic Account currently.

 

What trade sizes are possible on Insta.Eurica accounts?

Insta.Eurica accounts provide trade sizes ranging from 0.01 to 10,000 lots, allowing for various trading methods.

 

How does the Cent.Standard accounts help beginners?

The Cent.Standard account enables beginners to trade micro-lots with a modest minimum deposit, lowering financial risk and increasing trading experience.

How to open an InstaForex Account – Step-by-Step Guide 

South Korean traders can easily get started with InstaForex by following these easy steps:

 

Step 1: Click the “Open Account” button

Go to InstaForex.com and click the “For Traders” tab on the home page.

Click “Account Types” in the drop-down box and wait for the page to load.

Read the full details of the Cent.Standard, Cent.Eurica, Insta.Standard, and Insta.Eurica accounts. Consider the spreads, leverage, minimum deposits, and other features to figure out which account type fits your trade goals and risk level the best.

After choosing the type of account you want, click the “Open Account” button below the tables comparing accounts.

 

How to open an InstaForex Account – Step 1

 

Step 2: Complete the registration form

Complete the registration form with your name, email address, phone number, and name of the country where you live (South Korea).

Choose the type of account you want (Insta.Standard, Insta.Eurica, Cent.Standard, or Cent.Eurica) and the currency you want to use.

Carefully read through the risk disclosure, privacy, and terms and conditions documents. If you agree with the rules, check the box.

Click the “Open Account” button to send your application for review.

InstaForex will ask for certain documents to prove that you are who you say you are. Mostly, this involves showing proof of your address (like a utility bill or bank account) and a copy of your passport or other government-issued ID.

InstaForex will look over your application. An official email will let you know when your account is accepted.

Sign in to your InstaForex account and add funds using your preferred payment category like bank transfers, credit/debit cards, and electronic payment methods.

Now that you have money in your account, you can start trading!

 

How to open an InstaForex Account – Step 2

 

How long does InstaForex take to verify a new account?

The broker normally confirms new accounts within one to two business days of receiving the necessary papers.

 

What are the stages for depositing money into a new InstaForex account?

Following account verification, traders can log in, navigate to the ‘Finance’ section, select a deposit method, enter the amount, and finish the transaction.

Broker Comparison

🔑Broker🥉InstaForex🥈HFM🥇AvaTrade
📈RegulationFCA, BVI FSC, CySEC, FSA SVGFSCA, CySEC, DFSA, FSA, FCA, FSC, and CMA with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regionsCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC
📉Trading PlatformMetaTrader 4
MetaTrader 5
WebIFX
Multi-Terminal
WebTrader
InstaTick Trader
MobileTrader

MetaTrader 4
MetaTrader 5
HFM App
AvaTrade WebTrader
AvaTradeGO
AvaOptions
AvaSocial
MetaTrader 4
MetaTrader 5
DupliTrade
ZuluTrade
💵Withdrawal FeeYesNoNo
🆓 Demo AccountYesYesYes
⬇️Min Deposit1,400 KRW ($1)0 KRW ($0) 133514 KRW ($100)
✳️Leverage1:10001:20001:30 (Retail)
1:400 (Pro)
🔢Spread0.0 pips0.0 pipsFixed, from 0.9 pips
💴Commissions0.03% to 0.07%$6 per round turnNone
⛔Margin Call/Stop-Out30%/10%50%/20%25% – 50% (M)
10% (S/O)
📝Order ExecutionInstantMarketInstant
💰No-Deposit BonusYesNoNo
🪙Cent AccountsYesNoNo
📊Account TypesInsta.Standard Trading Account
Insta.Eurica Trading Account
Cent.Standard Trading Account
Cent.Eurica Trading Account

Cent Account
Premium Account
Zero Account
Pro Account
Pro Plus Account

Retail Live Account
Professional Account Option
🖋️FSC RegulationNoneNoneNone
➡️KRW DepositsYesNoneNone
💷KRW AccountYesNoneNone
👥Customer Service Hours24/524/524/5
💳Retail Investor Accounts451
☪️Islamic AccountYesYesYes
📌Minimum Trade Size0.01 lots0.01 lots0.01 pips
📍Maximum Trade Size100 lots500 lotsUnlimited
⏱️Minimum Withdrawal TimeInstant10 Minutes24 to 48 Hours
⏰Maximum Estimated Withdrawal TimeUp to 6 working days10 business daysUp to 10 days
💶Instant Deposits and Instant WithdrawalsYesNoNo
👉 Open Account👉 Open Account👉Open Account👉Open Account

InstaForex Trading Platforms

InstaForex Trading Platforms

 

While we explored the website, we came across a large range of platforms and the perfect mix of third-party and proprietary, which we believe will benefit South Korean traders. Keep reading to discover what we found when testing each platform.

 

Multi-Terminal

Those South Korean traders who handle several accounts will find Multi-Terminal especially useful.

For asset managers or traders who follow a diversified strategy, we found that this platform enables effective control of numerous accounts at once in a nation renowned for its cutting-edge technology and hectic financial activity.

We also found that the easy-to-use interface and smooth bulk order execution across several accounts should easily meet the demand for prompt and efficient trading decisions that are typical of the vibrant South Korean market.

 

WebTrader

We found that for South Korean traders who appreciate mobility and ease of use, WebTrader provides a powerful web-based trading solution that doesn’t need downloads or installations.

Traders can always stay up to date with the market thanks to its user-friendly design, which gives them access to a complete selection of trading instruments and real-time quotes.

In keeping with the flexible lifestyle of many South Korean traders, this platform is especially helpful for those who trade from several places or would rather not install specialized trading software on their devices.

 

InstaTick Trader

Developed for tick trading, which is becoming more popular among South Korean traders seeking quick, short-term trading possibilities, InstaTick Trader is a special product that stands out for its simplicity and quickness.

Focusing on tick charts, this platform offers a simplified interface for quick trades, which is crucial in South Korea’s volatile financial markets. We believe the platform’s architecture is geared toward people who value quick execution and real-time data to profit from the smallest changes in the market.

 

MobileTrader

MobileTrader is a strong option for South Koreans who prefer mobile trading solutions.

With one of the world’s greatest smartphone penetration rates, this mobile platform guarantees that traders can access their accounts, make transactions, and keep informed about market developments at any time and from any place.

Furthermore, if traders need flexibility and accessibility, the app is essential since it provides all the features of a desktop platform, including technical analysis tools and the whole selection of trading instruments.

 

MetaTrader 4

Because of its many features and dependability, MetaTrader 4 (MT4) is still a highly favored platform among traders in South Korea.

Its extensive collection of indicators, automated trading choices, and sophisticated charting tools cater to the demands of both novices and seasoned experts, making it a suitable choice for South Korea’s sophisticated and diverse trading community.

 

MetaTrader 5

By providing even more sophisticated features and order management, MetaTrader 5 (MT5) expands on the advantages of MetaTrader 4.

We believe that its wider selection of trading instruments, which now includes commodities, stocks, and forex, appeals to South Koreans looking to diversify their portfolios.

We also found that the quick-paced and diverse trading environment in South Korea is a good fit for MetaTrader 5’s increased speed and hedging capabilities.

 

WebIFX

InstaForex’s proprietary web-based platform, WebIFX, combines efficiency and simplicity. It is a good fit for traders who would rather not use typical desktop applications.

With a range of graphical tools and accessibility from any internet-connected device, we believe this platform will meet the needs of South Korean traders who value accessibility and convenience over functionality.

 

Can South Korean traders utilize MetaTrader 5 and InstaForex?

Yes, South Korean traders can utilize MetaTrader 5 with InstaForex, which provides enhanced trading capabilities and a wider selection of trading products.

 

What is the  Multi-Terminal platform intended for?

The Multi-Terminal platform is intended for traders who manage numerous accounts. It allows for efficient control and bulk order execution across multiple accounts.

Range of Markets

Range of Markets

 

If there’s one area where InstaForex doesn’t disappoint, it’s the number of financial instruments that can be traded across both accounts and various platforms. Please see the table below for the range of instruments, the distribution of each asset class, and the maximum leverage you can expect.

 

✴️Instrument✅Number of Assets Offered 📊Max Leverage Offered
Forex1101:1000
Shares83
Indices151:100
Precious Metals41:100
Energies171:100
Commodity Futures531:100
Cryptocurrencies12Variable
InstaFutures2

 

Leverage and Margin

When we looked into InstaForex’s products, their maximum leverage of 1:1000 for all account types is quite liberal in the brokerage industry.

Although this high leverage can greatly increase possible profits, South Korean traders must proceed cautiously because of the inherent increase of risk it represents.

We found that the Margin requirements of InstaForex are flexible and change according to the particular asset traded and the kind of account selected.

Trading main currency pairs, for instance, usually requires a lower margin percentage than trading exotic pairs or CFDs.

We thought the extensive margin calculator on the broker’s website was quite helpful in showing how margin needs change with various trade sizes and leverage levels.

Furthermore noteworthy is InstaForex’s use of a stop-out and margin call mechanism intended to prevent traders from suffering unduly large losses.

Traders are forced to either increase their funds or close some positions when account equity falls below a preset proportion of the used margin. If equity keeps falling, a stop-out is set off, automatically liquidating positions to avoid more financial harm.

 

What leverage options are available when trading forex?

InstaForex provides leverage options of up to 1:1000 for forex trading, allowing traders to enhance possible rewards and increase risk.

 

Are there any particular instruments for trading indices?

Yes, InstaForex offers 15 indices for trading, allowing South Korean investors to speculate on the performance of key global stock markets.

Fees

Fees

 

Spreads

InstaForex offers traders an option between fixed and floating spreads, which is an important feature to consider when preparing trades. Fixed spreads ensure constancy regardless of market swings, resulting in a predictable cost structure.

However, during periods of low liquidity, which normally occur between 11:30 PM and 3 AM server time, spreads on major forex pairs can expand from their customary starting point of 0 – 7 pips (depending on the account type) to up to 10 pips.

Furthermore, South Korean traders trading exotic pairs such as EUR/CZK or EUR/SEK should be aware that spreads can double during low-volatility overnight hours. Strategic transaction scheduling can help to minimize exaggerated costs.

 

Commissions

InstaForex’s commission schemes also demand scrutiny. While most accounts are commission-free, Insta.Eurica and Cent.Eurica accounts charge fees ranging from 0.03% to 0.07% of trade volume.

Furthermore, normal commission sizes could apply to different instruments, typically 1.5 pips for major pairs and higher rates for exotics and precious metals.

A distinguishing feature is charging commissions only on profitable trades at 25% of the profit. This could appeal to South Korean traders who are confident in their techniques and expect continuous gains.

 

Overnight Fees

Swap costs apply when positions are kept after the trading day has closed. An unusual exemption exists at InstaForex: equities and cryptocurrencies are excluded from swap fees.

This can be a huge advantage for South Korean traders specializing in these asset types. Furthermore, South Koreans can manage these expenses by closing intraday positions or focusing on swap-exempt assets.

 

Deposit and Withdrawal Fees

Deposits at InstaForex are free of charge, but withdrawals involve costs depending on the method used. South Korean traders can reduce costs using the most cost-effective local solutions, such as e-wallets or domestic bank transfers.

 

Inactivity Fees

It’s worth mentioning that inactivity costs of 5 EUR apply after three months of dormancy. This fee could affect South Korean traders who trade infrequently and those who hold positions for longer durations of time.

 

Currency Conversion Fees

Finally, currency conversion costs apply when trading currencies other than the deposit currency. Given the global reach of forex trading, South Korean traders can confront this while trading non-KRW pairs.

Maintaining a multi-currency bank account or using InstaForex’s services to store funds in frequently traded currencies may help to reduce these fees.

 

Does InstaForex charge for deposits?

No, there are no deposit fees; therefore, you can fund your trading account for free.

 

What are the commissions for trading CFDs?

Commission rates for trading CFDs typically start at 0.3%, depending on the instrument and account type.

InstaForex Deposits and Withdrawals

InstaForex Deposits and Withdrawals

 

InstaForex is known for its multi-currency deposit and withdrawal options for global clients. South Koreans can view our snapshot of each payment method/category in the table below and keep reading for a generalized step-by-step on using each option.

 

💳 Payment Method🌎 Country💴Currencies Accepted⏱️Processing Time
💰Credit/Debit CardAllMulti-currency24 hours
🪙Bank WireAllMulti-currency2 – 4 days
💳SkrillAllMulti-currency24 hours
💸NetellerAllMulti-currencyInstant
💳PayCoAllMulti-currencyInstant
🪙CryptocurrencyAllBTC, LTC, USDT, ETH3 hours
💰Local Nigerian TransfersNigeriaNGN1 -2 days
💸Local Ghana TransfersGhanaUGX1 -2 days
🪙AstroPayAllMulti-currencyInstant

 

Deposits

How to Deposit using Bank Wire Step by Step

✅Log in to your InstaForex trading account and go to the ‘Finance’ area.

✅Choose ‘Bank Wire’ as your deposit method.

✅You will receive banking information.

✅Fill out the deposit form with the required banking information and the amount you want to deposit.

✅Confirm the information and submit the form.

✅Keep the transaction receipt or reference number if you need to follow up.

 

How to Deposit using Credit or Debit Card Step by Step

✅Access your account and navigate to the ‘Deposit’ area.

✅Select “Credit/Debit Card” from the list of deposit possibilities.

✅Enter your card information, including the number, expiration date, and CVV code.

✅Indicate the deposit amount in your desired currency.

✅Confirm the transaction; money is typically credited within 24 hours.

 

How to Deposit using Cryptocurrency Step by Step

✅Sign into your account and choose ‘Cryptocurrency’ from the deposit options.

✅Choose the cryptocurrency you want to use (for example, BTC, LTC, USDT, or ETH).

✅Enter the deposit amount, and you will receive a unique wallet address for the transaction.

✅Use your personal digital wallet to transfer funds to the specified address.

✅Ensure the transaction is validated on the blockchain; funds will be credited within 3 hours.

 

How to Deposit using e-Wallets or Payment Gateways Step by Step

✅Log into your account and navigate to the ‘Deposit’ section.

✅Choose your favorite e-wallet or payment gateway (Skrill, Neteller, PayCo, or AstroPay).

✅Enter your e-wallet or payment gateway information and the amount you want to deposit.

✅Confirm and complete the transaction; money is usually credited immediately or within 24 hours.

 

 Withdrawals

How to Withdraw using Bank Wire Step by Step

✅Enter your account and navigate to the ‘Withdrawal’ section.

✅Select ‘Bank Wire’ as your withdrawal method.

✅Fill out the withdrawal form with your bank details and the amount you wish to withdraw.

✅Please verify the details and submit your request.

✅Bank wire withdrawals can take between two and four days to process.

 

How to Withdraw using Credit or Debit Cards Step by Step

✅After entering your account, navigate to the ‘Withdrawal’ area.

✅Select ‘Credit/Debit Card’ as your withdrawal method.

✅Enter the relevant card information and withdrawal amount.

✅Submit your withdrawal request; processing time is usually within 24 hours.

 

How to Withdraw using Cryptocurrency Step by Step

✅Log into your account and pick ‘Cryptocurrency’ from the withdrawal options.

✅Select the coin you want to withdraw and enter the amount.

✅Please provide your personal wallet address where you want to receive your funds.

✅Confirm the withdrawal; money is typically processed and transmitted within three hours.

 

How to Withdraw using e-Wallets or Payment Gateways Step by Step

✅Access the ‘Withdrawal’ section of your InstaForex account.

✅Choose an e-wallet or payment gateway (e.g., Skrill, Neteller, PayCo, AstroPay).

✅Input the e-wallet or payment gateway details and the withdrawal amount.

✅Confirm your withdrawal; most e-wallet transactions are executed immediately.

 

How long does it take to withdraw funds using cryptocurrencies?

Cryptocurrency withdrawals are normally handled within three hours, providing a quick and effective way to move funds.

 

Can traders make deposits and withdrawals using local payment methods?

No. While InstaForex accepts a wide range of international payment methods, local payment methods specific to South Korea are currently unavailable; nonetheless, traders can use globally known choices such as e-wallets and bank transfers.

10 Best Forex Brokers in South Korea for 2024

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#5

Read Review

$200

#6

Read Review

$100

#7

Read Review

$1

#8

Read Review

$200

#9

Read Review

$100

#10

Read Review

$50

#1

4.4/5

User Score

#2

4.7/5

User Score

#3

4.5/5

User Score

#4

4.4/5

User Score

#5

4.7/5

User Score

#6

4.6/5

User Score

#7

4.7/5

User Score

#8

avatrade.jpg

4.8/5

User Score

#9

4.8/5

User Score

#10

4.7/5

User Score

Educational Resources 

Educational Resources 

 

  • Video Tutorials: All skill levels of traders in South Korea can benefit greatly from the instructional video library on InstaForex. It explores both advanced trading techniques and core forex ideas. Traders can pick up skills in risk management, market analysis, and trading platforms used to flourish in the foreign exchange market.
  • Training: offers well-chosen training resources to help South Korean traders at every stage of their forex adventure. These materials offer in-depth analysis of intricate tactics together with beginner-friendly introductions to help traders of all experience levels become better traders.
  • Chief Strategist: Views from the Chief Strategist of InstaForex provide traders in South Korea with an insight into the thoughts of industry professionals. In the constantly shifting foreign exchange market, these studies can be essential to creating winning trading plans and giving South Koreans a competitive edge.
  • Analytical Reviews: Market trends and possible trading options are expertly broken down for South Korean traders by analytical assessments. This site is really useful for staying ahead of market movements and making educated judgments.
  • “What is Forex”: For South Korean traders, the “What is Forex” part of InstaForex demystifies the forex market and offers a strong basis of information.
  • Forex Glossary: South Korean traders find the Forex Glossary a very useful resource for navigating the complex language of the foreign exchange market. South Koreans can confidently use trading jargon to communicate with one another with this resource.
  • Economic Calendar: The economic calendar is an essential tool for South Korean traders since it enables them to schedule their transactions around important economic events.
  • Online Courses: The online courses give South Korean traders comprehensive knowledge and useful abilities. These courses are aimed to improve South Koreans’ market knowledge across all experience levels.
  • News in Pictures: With its “news in pictures” function, InstaForex offers traders in South Korea who want a brief, visual update on world financial happenings a visual synopsis of market news.
  • Trading Sessions: With InstaForex’s trading session information, South Korean traders can determine when is the best to trade.
  • Useful Information: A plethora of helpful information is curated by InstaForex, providing South Korean traders with an understanding of many trading facets.
  • Video Analytics: InstaForex video analytics gives South Korean traders a dynamic means of understanding market patterns. By providing a clear picture of market dynamics, these visual studies help improve the decision-making procedure.
  • FAQ: The FAQ section answers often-asked questions and clarifies many facets of forex trading for traders in South Korea.
  • Holidays Worldwide: South Korean traders need InstaForex’s global holiday information to organize their trading activity and foresee market closures, so they are not surprised by decreased liquidity.
  • Knowledge Base: With many tools available to improve their trading knowledge and tactics, South Korean traders can find a wealth of trading information in the Knowledge Base at InstaForex.
  • InstaForex TV: Traders in South Korea can get market information and instructional material through the multimedia portal InstaForex TV. Maintaining current market news and picking up new trading techniques are made easy with this interesting structure.
  • “How to Start Trading”: The comprehensive “How to Start Trading” manual from InstaForex provides South Korean traders with practical advice for a secure beginning in forex trading.
  • VPS: Traders in South Korea can utilize VPS hosting solution to give their trading activities a reliable and safe environment. South Koreans who use automatic trading techniques would especially benefit from this service.
  • Demo Account: For South Korean traders, InstaForex’s practice account function is a valuable tool that lets them test their trading strategies in a risk-free environment.

 

What is the objective of the InstaForex “What is Forex” section?

The “What is Forex” section is intended to help new traders understand the forex market by offering basic information.

 

How would South Korean traders benefit from InstaForex’s video tutorials?

Their video tutorials include a wide range of topics, from basic forex concepts to sophisticated trading methods, and are suitable for traders of all skill levels.

Bonuses and Promotions

Bonuses and Promotions

 

Apart from the lucrative $1,000 no-deposit bonus, InstaForex doesn’t disappoint when boosting your initial capital. We’ve explored each bonus to give traders a breakdown of what they can expect with InstaForex.

  • 100% bonus: The 100% bonus in South Korea doubles first deposits up to $2,000 with a 1:200 leverage but has a 100% stop-out threshold, requiring caution in trading.
  • 55% bonus: The 55% Bonus, applicable to all deposits with no upper limit and maximum leverage of 1:200, is beneficial for traders frequently replenishing accounts but requires certain InstaForex lot trading to withdraw the bonus.
  • 30% bonus: The 30% bonus offers a flexible choice for traders with a high-risk tolerance and a 10% stop-out level, offering a maximum leverage of 1:1000 on all deposits.
  • Club Bonus: The Club Bonus, which offers up to 40% on every deposit, is only available to members of the InstaForex Club and provides leverage of up to 1:1000.
  • Grand Choice Contest by InstaForex: InstaForex also hosts the Grand Choice Contest, with a $250,000 prize pool, and the Chancy Deposit, which gives a monthly reward fund of $50,000 to individuals who deposit at least $3,000.
  • Sniper: The Sniper contest is a weekly competition that evaluates traders’ market forecasting skills, offering opportunities for improvement and prize-winning in a simulated market setting.
  • Lucky Trader: Lucky Trader is a bi-weekly contest that awards consistent and profitable traders, allowing them to showcase their strategic abilities and compete for prizes.
  • Chancy Deposit: InstaForex’s Chancy Deposit offers a monthly lottery ticket worth $50,000 for traders with a minimum deposit of $3,000, with a 30% incentive. This unique campaign allows South Korean traders to enhance their trading resources and potentially win a windfall.
  • Real Scalping: Real Scalping is a monthly contest designed for short-term traders to learn scalping, which involves profiting from minimal price changes.
  • Great Race: The Great Race is an annual competition featuring trade challenges, where participants earn points and compete for valuable prizes.
  • FX-1 Rally: FX-1 Rally is a weekly contest for high-speed traders, offering a one-day rally for rewards based on performance.
  • Miss InstaForex 2024: Miss InstaForex 2024 is a unique competition combining social media and trade, offering participants the chance to compete for a $45,000 prize pool over a year.
  • Free Devices: The Free Smartphones campaign offers a fortnightly contest for traders to win modern electronics like iPads, iPhones, and Samsung smartphones, with a 55% bonus for depositing $500.
  • InstaForex Airplane: The InstaForex Airplane promotion offers traders the option to buy a branded airplane, representing the potential for success in trading.
  • InstaForex Balloon: The InstaForex Balloon promotion offers South Koreans the opportunity to experience the thrill of flying in a hot air balloon with the InstaForex emblem.

 

What is the $1,000 no-deposit bonus provided by InstaForex?

InstaForex’s $1,000 no-deposit bonus is a promotional offer that allows new traders to start trading without making a deposit, giving them a risk-free opportunity to explore the platform.

 

How does the 100% bonus at InstaForex work?

The 100% bonus doubles the first deposit up to $2,000, increasing trading capital for South Korean traders with a 1:200 leverage and a 100% stop-out criterion.

How to Register an Affiliate Account with InstaForex Step-by-Step

 

Step 1: Click the “For Partners” option

Visit the InstaForex website (https://www.instaforex.com).

Locate and click the “For Partners” option, which is located at the top of the homepage, between the “For Investors” and “Campaigns” options.

 

How to Register an Affiliate Account with InstaForex Step 1

 

Step 2: 

Scroll down to the “For Partners” area and click “Main Page” to be sent to the official  Partners page.

Review all of the affiliate program information to understand the benefits, features, and expectations you will have as an partner.

 

How to Register an Affiliate Account with InstaForex Step 2

 

Step 3: Complete the registration form

Use the affiliate commission calculator on the website to assess potential earnings. Input the trading tool (for example, GOLD) and trade volume (in lots), and the system will display the affiliate commission in US dollars.

Once you’ve examined the material and are ready to go, find the simple registration form on the affiliate page.

Complete the registration form with your name, email address, and cell phone number.

Select South Korea as your country of residence from the drop-down menu.

To verify that you are a human user, click the “I’m not a robot” captcha.

Carefully read the Partnership Agreement issued by InstaForex. You must understand the terms and conditions you are committing to.

If you agree with the terms, check the box indicating that you accept the Partnership Agreement.

Finally, click the “Become a Partner” option to complete your application.

 

How to Register an Affiliate Account with InstaForex Step 3

 

How to Register an Affiliate Account with InstaForex Step 3

 

Affiliate Programs

InstaForex is a broker that caters to various traders, their needs, and trading objectives. Therefore, we wanted to see what this broker could offer its affiliates in South Korea. Keep reading to see what we found.

 

Features

InstaForex’s affiliate program is an appealing option for South Korean traders and internet personalities wishing to diversify their income.

The broker’s generous commission structure, which offers rewards of up to $10-13.3 per traded lot or a significant $2,000 on a referred client’s first deposit, is among the most competitive online trading.

The growing popularity of forex trading in South Korea presents a huge earnings opportunity for anyone with a large network or a sizable internet following.

One of the program’s primary assets is its customizable structure, which offers two-tier partnership possibilities for both individual affiliates and those looking to build a network of sub-affiliates.

This tiered system has the potential to generate significant income growth, as affiliates profit not just from direct referrals but also from clients brought in by their sub-affiliates.

InstaForex increases the program’s appeal by offering extensive support to its partners. This includes access to promotional materials, individualized coaching, and even opportunities to travel and attend broker-hosted events.

This comprehensive approach assures South Korean affiliates the essential resources and support to succeed in their referral efforts.

 

What is the Commission Structure for Affiliates?

The affiliates can earn between $10 and $13.3 each traded lot or up to $2,000 on a referred client’s initial deposit, making it one of the most competitive schemes in the market.

 

How can South Korean traders benefit from the affiliate program?

South Korean traders with a big network or online following can earn significant rewards by referring clients.

Customer Support

Customer Support

 

🔑Customer Support🥇InstaForex Customer Support
⏰Operating Hours24/5
🔊Support LanguagesMultilingual
👥Email Address✅Yes
☎️Telephonic Support✅Yes
🏆The overall quality of InstaForex Support4/5

 

Can traders get trader support through social media platforms?

Yes, the broker provides client help via social media channels, with typical response times of 15-20 minutes.

 

Is there a special help channel for InstaForex affiliates?

Yes, the broker has a dedicated support channel for affiliates, with average response times of 24-30 hours for affiliate-related inquiries.

InstaForex Social Responsibility

InstaForex is committed to social responsibility beyond performance since the broker believes that corporate success should benefit society.

When we looked closer at their deeds, we found a real dedication to improving society. To learn more about their projects, click the “Social Responsibility” link at the bottom of their page.

We found that InstaForex’s global support of a variety of philanthropic projects is extensive. Prioritized are important sectors including healthcare, disaster relief, educational access, and the care of children without family support.

A major partner of Thinking Huts, InstaForex works to remove obstacles to education that more than 290 million children encounter because of packed classrooms, isolated locations, or poor infrastructure.

InstaForex also supports the Ronald McDonald Children’s Charities Fund in Malaysia, which supports many children receiving treatment at USM Hospital in Kelantan.

InstaForex also works with the Peduli Anak Foundation to give underprivileged and abandoned children worldwide better futures and basic care.

When a disaster struck, such as the terrible earthquake in Nepal in 2015, InstaForex volunteered to help recovery efforts via groups like World Vision.

Along with supporting the Wikimedia Foundation, which disseminates free knowledge, they also support the Malaysian Red Crescent, which helps those impacted by wars and natural disasters.

Finally, InstaForex also supports SOS Children’s Villages, a refuge that offers kids who have lost their parents or guardians a family-like setting.

Overall, through these various initiatives, InstaForex demonstrates a strong dedication to bringing about constructive change worldwide.

InstaForex User Comments and Reviews

InstaForex has millions of clients globally, and we went looking to find the top most recent comments that actual clients left, giving us an idea of how this broker really performs. Here’s what we found:

  • “Since a few years ago, I’ve always used InstaForex as my provider. I haven’t had any big problems with withdrawals, and their platform seems to work well. I like that they let you trade many different instruments and that the spreads are reasonable. I’m a happy customer overall.”
  • “I’ve used InstaForex for a few years and have mostly had a good time with it. Using the site is simple, and the customer service is great. I haven’t had any big problems, and my few small ones were fixed quickly. Unfortunately, they have high spreads on some exchange pairs. Other than that, I’m happy with their service.”
  • “There is a lot for users of all skill levels to find at InstaForex. Their discounts and bonuses are appealing, and offer a range of account types. I like that they let you practice with a test account. I believe they are a good broker in general.”

Pros & Cons

✅Pros❌Cons
InstaForex offers low-latency trade execution because of substantial investment in server technologyThere is a lack of localized content on the InstaForex website
There are several tools for South Koreans to conduct in-depth market analysisThere are no KRW-denominated accounts or local payment methods for deposits and withdrawals
InstaForex offers two cent accounts, ideal for beginnersThere is limited focus on local markets in terms of CFD and Forex instrument provisions
South Koreans can expect a $1,000 no-deposit bonus when they sign upThe fee structure can be extremely complex

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Our Recommendations on InstaForex

InstaForex is well-regulated, has diverse offerings, and is clearly dedicated to customer satisfaction. However, there are still some areas where improvements can be made, including the following:

  • Tailoring training information to South Korean market interests and trading patterns, including local indices, stocks, and economic events, would be extremely advantageous.
  • Providing in-depth analysis and news on the Korean economy and KOSPI market patterns will appeal to traders interested in local stocks and economic indicators.
  • Providing the option to hold accounts in Korean Won (KRW) would reduce the need for currency conversion, lowering transaction costs and fostering a sense of local inclusion.

Final Verdict

With its extensive list of tradable assets, flexible account types, and competitive trading conditions, We believe that InstaForex is definitely a tempting offer for traders in South Korea.

We are impressed by InstaForex’s commitment to providing trading tools and training resources tailored to the South Korean market. InstaForex also offers flexible account types with competitive trading conditions suited to all types of traders.

However, South Koreans should proceed cautiously since our evaluation shows this broker has some negative aspects.

The high-leverage offerings of the broker are one area that raises concerns. Despite the potential to multiply gains, these also greatly raise the stakes for huge losses, especially for those without much trading expertise.

In addition, we found that because of the complex fee structure, not fully understanding the differences in spreads and fee structures across account types could result in unexpected charges.

On the other hand, their customer service might use some improvement; there are instances when responses are slow and insufficient language options.

Overall, InstaForex appears to be a good fit for experienced South Korean traders who are familiar with the different cost structures and have a firm grip on risk management concepts.

However, we also found that novice traders might feel overwhelmed by the platform and would do better with a broker that offers more comprehensive training resources.

Our Insight

I’ve done some research on this and InstaForex offers a good opportunity for Korean traders in South Korea who wish to participate in all worldwide financial markets It is presented in such a way as if the trader is interested only in reliability without other factors.

Yes, InstaForex offers VPS hosting services, which can be beneficial for South Korean traders seeking uninterrupted trading and faster execution times.

Yes, South Korean traders can often access various incentives and promotions offered by InstaForex according to the terms and limitations that apply in their region.

Yes, InstaForex allows traders in South Korea to trade a range of cryptocurrencies, catering to their rising interest in digital assets.

InstaForex works around the clock, aligned with the global forex market. However, South Korean traders should know the overlap with the Asian trading session for the best liquidity.

No, InstaForex is not regulated by the South Korean financial body, but it does have licenses from other jurisdictions.

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