Forex broker InstaForex has been providing traders with access to the Forex market since its establishment in 2007.
Boasting over 7 million active traders, InstaForex claims that they’re the “best broker in Asia,” given that most of their clients come from different Asian nations. With stiff competition among brokers today, this huge client base is no easy feat.
You’re probably wondering how InstaForex has become the choice of more than 7 million traders. Let’s take a closer look and see what’s in it for you.
Forex Bonuses
Aside from offering various investment tools like PAMM and Copy trading, InstaForex is also known as a “generous broker” providing trading bonuses – be it no deposit bonuses, deposit bonuses, or welcome bonuses.
InstaForex 100% Bonus
Every trader today – novice or experienced – likes bonuses. Who wouldn’t like free money in their accounts right?
InstaForex 100% Bonus allows you to receive a 100% bonus right on your very first deposit. Getting the bonus is as simple as ABC – open an account, fund it with the required deposit amount, and fill in the application form.
InstaForex 100% Bonus Program Terms
The bonus itself can’t be withdrawn, but profits earned from the bonus are available for withdrawal anytime. The bonus amount you can receive is also unlimited. However, special rules apply for deposits amounting to more than $2,000. All information regarding these are available in InstaForex Bonus Agreement.
Weaknesses of InstaForex 100% Bonus
- Options trading and PAMM investing are not available for this bonus program. Instaforex also does not allow clients to credit their bonuses in other accounts that have already received bonuses of other types.
- Furthermore, the company reserves the right to cancel the 100% Bonus anytime without prior notice. With this, you should not include your bonuses when calculating your profitability. For clients planning to use their 100% Bonus for investments, Instaforex disallows this and prohibits clients from withdrawing their Bonus.
- The bonus is available only for trading Forex. Thus, attempting to use the bonus for trading cryptocurrency and CFD will result in bonus cancellation.
Should You Avail InstaForex 100% Bonus?
Several financial regulating authorities have issued warning against InstaForex over the years.
- 2011 – the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against InstaForex along with the other 14 brokers for taking the opposite side of clients’ Forex transactions.
- 2013 – the International Financial Services Commission Belize revoked InstaForex’s license. The same year, the Bulgarian Financial Supervision Commission also issued a warning against the company.
- 2014 – the Ontario Securities Commission issued a warning against InstaForex
- 2015 – French regulator Autorité des Marchés Financiers issued a warning against InstaForex for being an unauthorized broker in France.
Practice Due Diligence
Due to its extensive scam history, Forex review sites have labeled the company a “scam broker.” Moreover, former clients of InstaForex have been very active on Forex forums telling their stories. The company, according to them, has revoked their bonuses without proof, seized client funds, as well as traded against them.
With all this negative feedback on InstaForex, we suggest that you do more research about this broker before availing their 100% Bonus.
Also read: FXPrimus 100% Deposit Bonus vs HotForex 100% Credit Bonus
