InstaForex provides 3 types of trading accounts which can be customized according to traders' conditions and necessities.
Choosing a trading account requires a lot of careful consideration, including the percentage fee, minimum deposit, minimum trade size, spreads, leverage, etc. Professional forex brokers ideally have various types of trading accounts which can be chosen by traders.
InstaForex as one of the most popular forex brokers among traders provides 3 types of accounts that can be customized according to trader's conditions and necessities. The purpose of these 3 types of accounts is to help traders create successful trading strategies.
InstaForex splits account types based on the method of calculating spreads and commissions that traders can choose according to their needs and strategies. Well, in this article, we will compare 4 types of InstaForex trading accounts that you can read below:
- Insta.Standard: provides a user-friendly and cost-effective trading experience, suitable for traders who want to trade without additional fees.
- Insta.Eurica: provides zero spreads, simplicity in trade execution, and is suitable for experienced and newbie traders.
- Cent.Standard: provides fixed spreads, very low risks, and no additional fees.
- Cent.Eurica: provides a low-risk environment for testing strategies with 0.03% - 0.07% fees.
Each InstaForex account type caters to different trader profiles and provides distinct features. Here are the complete details:
This type of account is relevant in terms of minimum standards of trading on the forex market. It allows traders to gain access to all trading instruments in InstaForex. After gaining access, traders are required to pay a fixed spread for trading.
Insta.Standard accounts implement fixed spreads, with no additional fees. The main advantage of this account type is its universality. After registering with InstaForex and choose Insta.Standard account, traders can change the trading leverage and use a deposit size that suits their individual preferences.
Features on this account allow trading with Micro Forex (minimum deposit of USD 1-10), Mini Forex (minimum deposit of USD 100), and Standard Forex (minimum deposit of USD 1000).
Unlike Insta.Standard, Insta.Eurica does not require spreads to be paid at the time when opening a trade, which makes it suitable for traders who look for zero spreads to support their strategy. Nonetheless, there is a commission of 0.03%-0.07% per position to compensate for the spreads.
This InstaForex account type also works for professional traders as it shares the same trading characteristics as the Insta.Standard account type.
Cent.Standard is designed for beginner traders who are still learning to trade. This account provides a very small minimum trading volume of 0.0001 lot. Other than that, Cent.Standard accounts have the same trading terms as Insta.Standard which allows users to implement fixed spreads with no additional fees.
InstaForex is an international broker that provides trading services to traders globally. Since it was founded in 2007, InstaForex has provided for clients from various countries as many as 7 million traders. Based in Kaliningrad, Russia, InstaForex always attempts to improve the quality of the company in order to captivate the hearts of their clients.
Their hard work can be proven, one of which is by achieving a variety of awards, including Best Forex Cryptocurrency Trading Platform 2018 by UK Forex Awards, Best ECN Broker Asia 2018 by IBM, Forex Broker of the Year for Eastern Europe 2018 according to le Fonti Awards, Development, and Success award at Financial Olympus 2016-2017, etc.
There are 4 types of account offered by InstaForex representing a universal trading tool that help to work on international financial markets, such as Insta.Standard, Insta.Eurica, Cent.Standard, dan Cent.Eurica. Trading account types differ by the methods of accounting spreads and commissions, which are picked by the trader opening an account.
Insta.Standard account is relevant for standard trading terms on the Forex market and allows a trade to be settled with classical spread and with no fees. Traders will be charged a fixed spread every time they make a transaction. Spreads that are provided ranging from 3-7 pips. The main advantage of this type of accounts is its universality, as a trader can change the trading leverage and work with a deposit size convenient for traders.
Different from Insta.Standard accounts, Insta.Eurica accounts do not require payment of any spread on opening a deal. Therefore, this type of InstaForex account is suitable for beginner trader with a minimum transaction of 0.01 lots.
There are also other types of accounts InstaForex, namely Cent.Standard and Cent.Eurica which can be used for beginner traders because they can use the minimum transaction volume, which is 0.0001 lots (the cost per lot is USD0.1 cent). Deposit currencies that can be used by traders are EUR and USD (for all types of accounts).
Trading in InstaForex is quite a given as traders can choose to trade with leverage between 1:1 to 1:1,000. With a minimum initial deposit requirement of only USD1 (for all types of accounts), InstaForex clients have the opportunity to get a 30% to 100% deposit bonus.
Not only that, but beginner traders are also exempt from confusion in determining forex trading strategies. Because Instaforex provides ForexCopy services that allow traders to copy orders from professional traders in just a few minutes.
And then, there are around 300 trading instruments offered by InstaForex for traders. In addition to currency pairs, there are also futures, shares, gold, silver, CFDs, Bitcoin, and others.
Every InstaForex client is free to choose a trading platform that can be tailored to their needs. There are four types of trading platforms available, including InstaBinary, WebIFX, MetaTrader4, and MetaTrader5. Each platform has advantages and disadvantages. InstaForex also provides video tutorials on how to register on each platform. It aims to make it easy for beginner traders who want to join InstaForex.
If a trader still confused after seeing the video tutorials, traders can contact customer service available 24 hours connected to various social media, including email, Skype, Whatsapp, Telegram, Viber, Twitter, and Phone Call. On the InstaForex website, there are around 30 languages provided to facilitate traders from various countries.
The trader can also help themselves with trading calculators provided on the InstaForex website. Traders can accumulate currency pairs, Leverage, volume, and currency used.
The payment system in InstaForex is also diverse. Traders can pay deposits via Visa, Mastercard, Skrill, Neteller, PayCo, as well as Wire Transfer. All in all, InstaForex is a well-rounded broker for many types of traders.
These account holders have the same trading requirements as Insta.Eurica account holders. The only restriction on this account is the maximum deposit size. This restriction is meant to let traders focus more on examining trading strategies with minimum risk. If compared to the Cent.Standard type, this account costs users an additional 0.03% - 0.07%.
In general, here's a clear comparison between all InstaForex account types:
|💲Deposit Currency||EUR, USD||EUR, USD||EUR Cents, USD Cents||EUR Cents, USD Cents|
|💰Minimum Deposit||UDS 1||USD 1||USD 1||USD 1|
|💰Maximum Deposit||no limit||no limit||USD 1000||USD 1000|
|💸Fee||0||0,03% - 0,07%||0||0,03% - 0,07%|
|📈Minimal Trade||0.01 of the lot||0.01 of the lot||0.10 of the lot||0.10 of the lot|
|📉Maximal trade||10.000 lots||10.000 lots||10.000 lots||10.000 lots|
|🔐Margin for locks||25%||25%||25%||25%|
Which Trading Account is Suitable for You?
Based on the above comparison, here are the trading account recommendations for each level of trader in InstaForex:
- Newbie Traders: Cent.Standard and Cent.Eurica trading accounts are suitable for beginner traders as they allow them to practice trading with minimal risk using very small trade sizes.
- Experienced Traders: Insta.Eurica Trading Accounts can be a good choice for experienced traders. It allows traders to focus on technical analysis and improve their trading skills, thanks to zero spreads and the ease of use of pending orders.
- Expert Traders: Insta.Standard Trading Accounts are suitable for expert traders. These accounts provide flexibility in terms of leverage and larger deposit sizes, which suit the needs of expert traders.
However, it is important to remember that these are just general recommendations, and the selection of the right trading account should also be considered based on individual trading preferences and strategies.
InstaForex has been operating since 2007. With more than 15 years of experience, this broker provides access to over 300 trading instruments, complete trading packages that support all levels of traders, and various types of bonuses and trading contests.