FxPro vs InstaForex - Fees Review included
Which broker is better FxPro or InstaForex? Our expert assessment conducted according to TU’s own methodology showed that FxPro is one of the top brokers in the financial market with the TU Overall Score of 8.74 out of 10. InstaForex is one of the top brokers in the financial market with the TU Overall Score of 8.22 out of 10. Find out more about TU Overall Score.
| Feature | FxPro | InstaForex |
|---|---|---|
Overall |
4.6 |
4.5 |
5 |
4.5 |
|
3.9 |
3.5 |
|
4.6 |
4.6 |
|
Investment Instruments |
4.9 |
4.8 |
Platforms and Charting Tools |
4.2 |
4.4 |
Deposit and Withdrawal |
4.5 |
5 |
Research |
4.7 |
4.6 |
Education |
4.6 |
4.8 |
Support |
4.5 |
4.7 |
Bonuses |
2.5 |
5 |
|
|
|
FxPro vs InstaForex: Pros and Cons
The FxPro broker was registered in July 2006 in Cyprus. The company’s activities are licensed by financial regulators: CySEC (Cyprus), Bahamas SCB, FCA (UK), and South African FSCA. FxPro is successfully operating in more than 170 countries for retail and institutional clients. The broker has received more than 85 awards, including “Best Forex Trading Platform” and “Best Trading Platform”. FxPro has become known for providing the best trading tools. With FxPro broker, traders can trade more than 70 currency pairs, futures and stocks (Twitter, Apple, Google). The company has stock indices, metals and energy resources at its disposal. FxPro sets high safety standards with the client's funds being kept in large international banks. They are insured and separated from the broker's equity.
InstaForex is an international company that has been providing services in the Forex currency market since 2007. Today, more than 7 million traders worldwide use the services of this broker. InstaForex offers its clients access to 300 trading instruments, such as PAMM Investment and ForexCopy system to copy trading of successful traders. The company’s activity is regulated by the British Virgin Islands Financial Services Commission (FSC) in accordance with the Securities and Investment Business Act. InstaForex has a reputation for responsible and professional trading practices. In 2016, the company received the UK Forex Best Social Broker Award, in 2018 was named the Best Forex Platform for Trading Cryptocurrency, and in 2019 Best Asian Broker and the Best Eastern European broker.
| FxPro | InstaForex | |
|---|---|---|
| Overall Pros | Regulated in EU and Great Britain | Regulated Forex Broker |
| Big choice of ECN/STP accounts | 2500+ trading assets | |
| insurance of client funds | Individual online training | |
| Strong research and education | Advances news and analytitc platforms | |
| PAMM and Copy-trading for investors | Free VPS service | |
| Personal offers for VIP-clients | High exacution speed | |
| No deposit and withdrawal fees | ||
| Deposits in crypto | ||
| $1000 No deposit bonus (Only for international entety) | ||
| Overall Cons | High spreads and fees | High spreads and trading fees |
| No forex bonuses | Low exacution speed |
FxPro vs InstaForex: Safety and Regulation
| Regulated By: | FxPro | InstaForex |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
FSCA (South Africa), SCB (Bahamas) |
FSC (British Virgin Islands) |
FxPro vs InstaForex: Trading Conditions
| Trading Conditions | FxPro | InstaForex |
|---|---|---|
Minimum Deposit |
$100 |
$1 |
Trading Platforms |
MT4, MT5, MultiTerminal |
MT4, MT5, InstaForex MultiTerminal |
Max Leverage (Futures) |
1:500 SCB regulation 1:30 (FCA, CySec regulation) |
1:1000, 1:30 (for EU clients) |
Supported Markets |
Forex, CFDs on indices cryptocurrencies, stocks, energy commodities |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Trading assets |
3000+ |
2500+ |
Trading Accounts |
FxPro MT4 Instant (with fixed spreads), FxPro MT4 Instant (with floating spreads), FxPro MT4 Market, FxPro MT5, FxPro cTrader, VIP-account |
Insta.Standard, Insta.Eurica, Cent.Standard, Cent.Eurica for international entity, ECN, ECN PRO, ECN VIP - For EU entity. |
Base Account Currencies |
USD, EUR, PLN, GBP, AUD, CHF, JPY, ZAR |
EUR, USD |
FxPro vs InstaForex: Fees
Forex Trading Fees
| Fee | FxPro | InstaForex |
|---|---|---|
Standard Account EURUSD Average Spread |
2.4 pip |
3 pips |
Standard Account Fee |
$0 |
0.03-0.07% |
ECN/STP Account Fee |
Not offered |
Raw spread (Just for EU Clients) |
ECN Account EUR Average Spread |
Not offered |
Raw spread (Just for EU Clients) |
CFD Trading Fees
| Fee | FxPro | InstaForex |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | FxPro | InstaForex |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
$5 per month after 6 monthes without trades |
$10 per month after 12 monthes without trades |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
FxPro vs InstaForex: Trading Assets
| Asset Name | FxPro | InstaForex |
|---|---|---|
Overall |
3000+ trading assets |
2500+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
Yes (CFD) |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
FxPro or InstaForex: Investment Programs
| Asset Name | FxPro | InstaForex |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
Yes |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: InstaForex or FxPro
| FxPro | InstaForex | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
FxPro |
InstaForex |
Others |
No |
No |
|
|
|
FxPro vs InstaForex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FxPro | InstaForex |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (Only Bahamas and South Africa regulated entities) |
Yes |
Crypto |
No |
Yes |
FxPro vs InstaForex: Research
| Research Type | FxPro | InstaForex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
FxPro vs InstaForex: Education
| Education Type | FxPro | InstaForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
Yes |
InstaForex vs FxPro: Support
| Support Features | FxPro | InstaForex |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Messendgers |
FxPro vs InstaForex: Forex Bonuses and Promo
| Promo | FxPro | InstaForex |
|---|---|---|
Forex Bonus |
Not offered |
$1000 no deposit bonus |
Affiliate Program |
Up to $1.100 per client you introduce to FxPro |
Yes |
Other Promos |
||
|
|
|
Top 5 Reviews on InstaForex
-
Comment
Copying trades on InstaForex is another interesting passive income opportunity I have really been active on after learning about it. I am not saying that all the strategies I copied from the expert traders on the platform resulted in profits but a higher percentage was profitable. To be on a safer end when copying trades, it is important that you evaluate the trader's profile and performance in the market before you choose to compare them. I always assess and evaluate the traders trading history. Check how many days the trader has been trading and total profit and equity. Copy multiple traders to spread your risk and make sure the traders you follow employ a variety of trading techniques. If you would rather close your trades within a 12-hour window or the same day, then follow day traders.
-
Comment
It is important that you closely monitor the market before opening a position if you are trading within a one-day time frame. I use the Bolinger bands, stochastic oscillator, and average directional index and they are on my top indicators list when I choose the 1 day time frame. The average directional index helps me determine a trend momentum and strength, the Bollinger bands help to identify price patterns, and the stochastic oscillator compares the closing price of an instrument to the range of its price over a certain time.
-
Comment
You can immediately access the InstaForex web terminal to start trading. You can login as a client or guest. The guest account is mostly a paper account and it is one of my favorites especially when I want to test a trading strategy. The web terminal is sectioned in a very concise manner. You select between the classic to view the instrument listing and their current prices and can immediately navigate to the charts of the pairs you select by clicking on the chart symbol at the right-hand end of the listed assets. The terminal is arranged so users can identify and know where to be depending on what they want to do atthe moment. So if the MetaTrader platforms might look hectic for you as a new trader, the InstaForexForex terminal can provide with a friendly and colourful interface to trade.
-
Comment
I liked the copy trading service from InstaForex. Perhaps traders who don't have much trading experience expect to make a profit of up to 100 percent, but that's not the case! So I'm very happy to have a return of up to 20 percent per month with this service; these are good overall results.
-
Comment
InstaForex can be considered a reliable broker. I have been trading here for over a year and have withdrawn my profits more than once. There are problems, but not such as to accuse this project of fraud. The platform works almost flawlessly, although slippages and gaps sometimes occur. InstaForex withdraws profits without any problems, but you need to take fees into account.
Top 5 Reviews on FxPro
-
Comment
To become a successful forex trader, you must know the four trading sessions and best time to trade in the most busy session. Forex trading sessions are times when the forex market is open and closed in different regions. You have to learn about these sessions to know when each opens and closes before you open a position. Out of the four sessions, new york and London is the ones with the highest trading volume and the best sessions to trade in if you want to trade in a busy market. I use the FXxPro Global Stock Exchanges session times to know what session is open and to monitor when two sessions overlap especially the New York and London overlap which is the best time to trade as it is known to have the heaviest volume of trading and is best for trading opportunities. Personally, this is one of the simple but helpful tools for day traders on FxPro.
-
Comment
You can transfer from your Fxpro wallet to your trading wallet 24/7. I happen to be busy during the weekdays and only trade during the weekends, now i want to transfer funds between my FxPro Wallet and trading accounts during the weekend to trade. The first time i tried i had few open positions and it stalled but after closing the positions it was successful. So transferring funds between fxpro wallet and trading accounts during weekends is possible if the specific trading account you are transferring from does not have any open positions. You will not be able to move money from an open trade you had over the weekend to your wallet until the market reopens on Sunday at 22:00 UK time.
-
Comment
When you encounter any challenge with your trade, the best option is to contact the customer service agent if you don't have any senior trader you can get help from at the moment. At least the Fxpro customer service is fast, responsive, and made up of experts. Issues with verifications, deposit and withdrawals are best handled by the support team, especially those that have to do with delay in funding accounts. You can use the FAQ option to solve some recurring issues as you can find answers given to traders who had similar challenges earlier. In one of the occasions connecting to the customer support was not going through so i decided to check the FAQ section. My challenge has to do with transferring from my wallet to my trading account. I solved this with the answer from the FAQ section.
-
Comment
Great broker FxPro. It has decent trading tools and a wide range of assets. This is good because the opportunity to invest in multiple financial markets simultaneously is an advantage for any trader. FxPro has a fairly professional customer support service, helping to resolve various issues. I've traded here on two platforms, and they both work quickly.
-
Comment
You can entrust FxPro with your money. As far as I know, the company has established itself as a decent broker and it would be surprising when they engage in manipulation here. I have been trading with FxPro for many years and during all this time I haven’t noticed any manipulations or bucket shop methods.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!