InstaForex vs Forex.com - 2022 Comparison | FX Scouts Kenya
AuthorBy Björn Michels
Updated: August 29, 2022

Trading with a reputable online broker is a crucial factor for success in the international markets. At FX Scouts Kenya, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

Select brokers to compare

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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
110.5002.92/ 5 USD 1British Virgin Islands Financial Services CommissionFinancial Services Authority – St. Vincent & the GrenadinesECN/DMACommodities, Cryptocurrencies, Stock CFDs, Forex, Futures, Indices, Metals, WTIs11012
  • Wide range of assets
  • Copy trading accounts
  • Expensive withdrawals
  • Limited education
  • Wide spreads
Read Review 1110.503.5/ 5 110002/ 5 111104/ 5 100001/ 5 111003/ 5 1110.503.5/ 5 111003/ 5 71.71%1000:10 pips Cent.Eurica, Cent.Standard, ECN Pro, ECN VIP, ECN/ECN Scalping, Eurica account, Insta.Eurica, Insta.Standard, Islamic, OYS Account, Standard account MT4, MT5Skrill, Bitcoin, Neteller, Sofort BankingFees Included in Spread
11110.54.33/ 5 USD 100FCA Regulated BrokersASIC Regulated Forex BrokersMonetary Authority of SingaporeCayman Islands Monetary AuthorityMarket MakerCommodities, Cryptocurrencies, Stock CFDs, Forex, Indices, Metals918
  • Well regulated
  • Wide range of assets
  • Excellent education
  • High inactivity fees
  • Limited demo account
Read Review 111115/ 5 11110.54.5/ 5 111104/ 5 11110.54.5/ 5 11110.54.5/ 5 111104/ 5 1110.503.5/ 5 77%200:10.80 pips Commission, DMA Account, MT4, MT5, Standard MT4, MT5, Forex.comBank Transfer, Visa, Mastercard, Maestro, Skrill, NetellerFees Included in Spread

How do Forex.com and InstaForex stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

Forex.com

InstaForex

At FX Scouts Kenya, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare Forex.com and InstaForex, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does Forex.com or InstaForex have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that Forex.com holds three Tier 1 and no Tier 2 licences, and InstaForex holds no Tier 1 and no Tier 2 licences.

 

Can I trust Forex.com?

Yes as Forex.com was founded in 2001 and is regulated by ASIC, CIMA, FCA and MAS.

 

Can I trust InstaForex?

Yes as InstaForex was founded in 2007 and is regulated by B.V.I FSC and FSA-St-Vincent.

 

Based on these findings, Forex.com earned a higher trust rating than InstaForex.

Does Forex.com or InstaForex have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that Forex.com has overall lower trading costs than InstaForex. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
InstaForex
110002/ 5
USD, EUR, RUB
3.00 pips
USD 30
3.00 pips
3.00 pips
3.00 pips
USD 0
Forex.com
11110.54.5/ 5
USD, EUR, CAD, JPY, CHF, AUD, GBP
0.80 pips
USD 8
0.80 pips
1.00 pips
1.60 pips
USD 0

 

Does Forex.com or InstaForex offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, Forex.com offers support for MT4, MT5 and Forex.com and InstaForex offers support for MT4 and MT5. 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both Forex.com and InstaForex offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
Forex.com
111104/ 5
Forex.com

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that InstaForex offers a greater range and depth of instruments to trade than Forex.com. InstaForex offers 110 Forex pairs to trade and Forex.com offers 91 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, InstaForex offers 12 cryptocurrencies while Forex.com offers 8 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with InstaForex.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that both Forex.com and InstaForex charges a withdrawal fee. Overall, Forex.com has better deposit and withdrawal processes than InstaForex. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

Forex.com and InstaForex both have moderate educational support. Forex.com offer educational support for more experienced traders and InstaForex does not.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
InstaForex
Medium
Forex.com
Medium

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that Forex.com offers better research analysis than InstaForex and that Forex.com offer frequent webinars and InstaForex does not.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
InstaForex
Forex.com

 

Our overall Verdict on Forex.com

Forex.com was founded in 2001 and is part of the NYSE-listed GAIN Capital Group. Trading conditions are competitive with other large market makers and regulation is excellent, as you would expect from a publicly listed company.

A huge range of assets is available to trade, including 80+ Forex pairs and 5 cryptocurrencies. Platform choice is good, with Forex.com’s proprietary platform offered alongside MT4 and MT5. For beginners, education and market analysis are best in class, though the demo account does expire after 30 days of use.

Our overall Verdict on InstaForex

InstaForex is an award-winning broker offering good trading conditions with both market and instant execution across five different account types. With three market execution accounts, one of which is specifically built for scalping, two instant execution accounts with no minimum deposit, and a copy-trading service, InstaForex will appeal to a wide range of traders.

The market analysis and education sections feature regularly updated content for traders of all experience levels and MT4 is fully supported via download and webtrader.

Which broker has the highest overall rating?

Forex.com has an overall rating of 4.33 and InstaForex has an overall rating of 2.92. For more detail please read our reviews of Forex.com and InstaForex.

Featured Brokers

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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