How does the currency conversion system for replenishment and withdrawal at InstaForex differ from the systems that other forex brokers offer?
When you deposit funds in a currency other than the base currency of your account, the company uses the current market rate. The information on the current conversion rate is available both in Client Cabinet and on the InstaForex website (the conversion rate equals the BID price).
When you withdraw funds in a currency other than the base currency of your account, the company uses the weighted average exchange rate. Determining the rate, the broker takes into account the current rates and the amount of deposits.
The InstaForex weighted average exchange rate is more beneficial than systems of internal rates used by other forex brokers. Internal rates include huge internal spreads, whereby the replenishment is charged at one rate, and the withdrawal at another. The difference between withdrawal and replenishment rates can be up to 10%, which means that when you deposit RUB 10,000 to your account, you can lose RUB 1,000, even if the withdrawal is done on the same day.
Using the weighted average approach to determine rates gives a trader an opportunity to replenish RUB 10,000 and get back the same RUB 10,000 for the same amount of US dollars. Example of calculating the weighted average exchange rate:
Initially, a client deposited RUB 10,000 to his dollar account at the rate of RUB 66.57 per USD 1. At the time of crediting this sum to an account, the amount equaled $150.22.After a while, a client made one more replenishment of RUB 5,000 at the rate of RUB 63.81 per 1 USD. At the time of crediting this sum to an account, the amount equaled $78.36.
Sometime after that, a client decided to withdraw the earned profit of $300. The weighted average exchange rate is calculated according to the formula of the weighted arithmetic mean:
Thus, the available amount for withdrawal is RUB 19,695.
What payment options are available at InstaForex?
You can top up your trading account via RBKMoney, Qiwi, MoneyBookers/Skrill, Neteller, Yandex.Money, Z-Payment, Visa cards, MasterCard cards, and bank transfers. You may also pay in cash in our offices. The same options are available for withdrawing money from your trading account.
Does the company charge any fees for depositing money to your account?
The company does not charge any fees for depositing money to your trading account. However, your transaction amount will be charged with a commission by a payment system or a bank which credits or debits your account.
How long does it take to top up a trading account?
Depositing via BKMoney, Z-Payment, OnPay is instant, while it takes Qiwi about 15 minutes to perform it. Yandex.Money needs about 3 hours; Visa and MasterCard cards, up to 24 hours according to the chosen payment method. Topping up via MoneyBookers/Skrill and Neteller also takes up to 24 hours. Depositing your account in cash in our offices takes 1-4 hours. A bank transfer lasts up to 4 days.
How long does it take to withdraw money from a trading account?
Withdrawal via QIWI, MoneyBookers/Skrill and other online payment system takes 1-7 hours. Taking money by bank transfer takes 2-4 days. Money can be withdrawn from your Visa card in 1-6 bank days.
What is the minimum withdrawal amount?
There are no limits to withdrawal. You can always request the withdrawal of any remaining amount on your trading account. The exception includes bank wire (minimum amount for withdrawal is 300$). For wallets, electronic payment systems and bank cards - minimum amount for withdrawal is 1 USD, including commission. Also please pay attention to the commission which a bank can charge for an operation: up to 30 US dollars.
What is the minimum deposit amount?
Minimum deposit is 1 US dollar.
What measures should I take in case I lost some information and became unable to use the same details for withdrawal as for deposit?
Which IP addresses do InstaForex Company’s trading servers have?
Clients of InstaForex Company have a great opportunity to choose any out of 10 suggested trading servers to work with.
When registering a live trading account with InstaForex, you get a chance to choose the server for your account. All available servers for the trading accounts opened with InstaForex are listed below:
server in the USA with the address InstaForex-USA.com or 22.214.171.124:443 can be used for trading account numbers from 10000 to 1000000;
server in the USA with the address InstaForex-USA2.com or 126.96.36.199:443 can be used for trading account numbers starting from 8000000;
server in Singapore with the address InstaForex-Singapore.com or 188.8.131.52:443 (184.108.40.206:443) can be used for trading account numbers starting from 7000000;
server in Netherlands with the address InstaForex-EUROPE.com or 220.127.116.11:443 can be used for trading account numbers starting from 5000000 to 6000000;
server in Hong Kong with the address InstaForex-HongKong.com or 18.104.22.168:443 can be used for trading account numbers from 1000000 to 2000000;
server in Great Britain with the address InstaForex-UK.com or 22.214.171.124:443 can be used for trading account numbers from 2000000 to 3000000;
server for cent accounts with the address InstaForex-Cent.com or 126.96.36.199:443 can be used for trading accounts with the number from 3000000 to 3500000;
server for cent accounts with the address InstaForex-Cent2.com or 188.8.131.52:443 can be used for trading accounts with the numbers from 3500000 to 4000000.
In the process of registering a demo account, specify one of the following servers:
server for contests that has an address InstaForex-Contest.com or 184.108.40.206:443 can be used for demo accounts with the numbers from 65000000;
server for other demo accounts has an address InstaForex-Demo.com or 220.127.116.11:443.
Why does InstaForex use 10000 lot instead of standard 100000 one?
InstaForex Company gives an opportunity to trade on Forex market using three types of account at once: Micro Forex, Mini Forex, Standard Forex. In order to make such a technology possible a non-standard 10000 lot was introduced, which makes the pip price equal $0.01 in a 0.01 lot trade, the minimum. It allows the $5,000-$10,000 trading account holders to control their risks effectively. At the same time, the 10,000 lot size makes the calculations of a pip price convenient.
Please have a look at the data below:
0.01 InstaForex lot deal = $0.01 pip price
0.1 InstaForex lot deal = $0.1 pip price
1 InstaForex lot deal = $1 pip price
10 InstaForex lot deal = $10 pip price
100 InstaForex lot deal = $100 pip price
1000 InstaForex lot deal = $1000 pip price
Easy calculations and the possibility to combine three levels of Forex trading in one trading account makes InstaForex lot an undeniable advantage of InstaForex trading conditions.
What does leverage mean?
Leverage is the ratio of a margin amount to the borrowed amount: 1:100, 1:200, 1:1000. 1:100 leverage means that, to open a trade, you should have 100 times less amount than the amount of a trade. In InstaForex Company you may choose the leverage from 1:1 to 1:1000.
Why can't I see all symbols in the Market Watch window?
The number of symbols you see is set up in your platform settings. In order to extend the quotes list, please right click on the Market Watch window and select "Show all symbols".
Do you increase spread during the news releases?
InstaForex never increases spread during the news releases. Every trader can be confident that trading terms will remain steady even during the news events.
May I use expert advisors? Are there any restrictions?
There are no restrictions on the use of advisors.
Is it possible that a trader owes money to the company?
No, it is impossible. If a trader loses more than he has in a trading account, the company must cover the loss to 0.
Is there any difference between demo and live trading?
There are no differences in trading conditions and trading instruments. Trading on demo account is identical to live trading, except unavailability of deposit and withdrawal options for demo accounts.
What is the minimum deposit amount?
The minimum deposit amount is $1, and it allows you to open a trade on any instrument.
Why do EUR/GBP and EUR/CHF currency pairs have floating spread?
Floating spread is a trading condition commonly used by the first-rate international brokers. EUR/GBP and EUR/CHF are the only currency pairs which have floating spread. It means that every day from 19:00 GMT+00 to 08:00 GMT+00 a spread can be increased to 5 pips. Spread is a commission taken by the broker for a transaction, and it is subject to the market conditions which the company works in. As long as the contractors have floating spread, it will be floating at InstaForex too. However, during the daytime (after 08:00 GMT+00) spread of these currency pairs remain unchanged: 3 pips.
How to calculate the amount of margin for a trade?
The amount of margin is equal to the trade volume divided by the leverage. The trade volume is equal to 10000 US Dollars multiplied by the amount of lots and by the exchange rate of a base currency in a pair to the USD. The base currency is the first in a currency pair. For example, in the EUR/USD currency pair the base currency is EUR (thereafter, the exchange rate of a trade to the US Dollar is EURUSD), in USDCAD - is USD (the exchange rate of a trade to the US Dollar is equal to 1, because USD/USD = 1), in GBPJPY - the base currency is GBP (the exchange rate of a trade to the US Dollar is equal to the GBP/USD exchange rate or to the exchange rate of GBPUSD). So when the GBPUSD exchange rate equals 1.4956 in a 2 lot trade with the 1:100 leverage, the margin will be 10000 * 2 * GBPUSD/100 = 299.12 USD. In a 3.5 lots trade on USDJPY with the 1:1000 leverage, the margin is equal to 10000 * 3.5 * 1/1000 = 35 USD.
For the convenience of our clients we have added a Forex calculator to our website.
Where can I request the Welcome bonus?
Do you have micro and mini accounts?
Yes, we do. However, trading on InstaForex accounts is executed with micro and mini lots. It means that you can trade 0.01 lot, which is equal to micro account.
How can I change my leverage?
You can change your leverage in Client Cabinet. If for whatever reason you are not able to change it in Client Cabinet, send email to email@example.com or firstname.lastname@example.org with the following information: trading account number, phone password and leverage you want to have. Also you can contact the Customer Support Service via Live Chat, Yahoo, Skype, ICQ and write the same data.
I forgot trader password or PIN code (or I want to change my trader password or PIN code). What should I do?
Trader password can be changed in Client Cabinet or in the settings of MetaTrader platform.
You can also change the trader password by applying to the Customer Support Service with the following information: account number, phone password and a new trader password (Latin letters, from 6 to 12 symbols).
If you have forgotten or lost the phone password, please contact the Customer Support Service by e-mail email@example.com or firstname.lastname@example.org, attach a scanned copy of your ID/driver license and describe the situation providing the account number. Your phone password will be recovered or changed at your discretion.
For PIN code recovery/change, it is necessary to send an email to email@example.com or firstname.lastname@example.org with the following information: trading account number, new PIN code (figures or figures and letters) and a scanned copy of your ID/driver license attached.
May I open several trading accounts in one name?
Yes, you may. There are no restrictions on the number of live and demo accounts opened in one name.
Is it true that I can trade only 8 lots maximum in MetaTrader?
No, you can type in any number of lots (up to 10000).
MetaTrader is a trading platform, which came as a breakthrough in online trading technologies in 2001. Since then, it has won favor with a lot of traders. For 14 years, MetaQuotes Software, a developer of the trading platform, has streamlined the trading software and made its operation flawless. Nowadays, the most popular versions of the trading platform are MetaTrader 4 and MetaTrader 5. There are notable differences between the fourth and fifth versions of the trading software in terms of a time of their release and the contents. Besides, the trading platforms differ in the ways how trading is managed. Let’s get more insights into important differences between these two popular trading platforms.
|№ п/п||Features for comparison||MetaTrader 4||MetaTrader 5|
|1||Download||Downloading is simple and does not take much time. A trader needs to fill in a server’s web address of a brokerage company, which is chosen to open a trading account.||Downloading is simple and does not take much time. A trader needs to fill in a server’s web address of a brokerage company, which is chosen to open a trading account.|
|2||Charts displayed||The number of charts which can be displayed in parallel is unlimited. Trading is available on a tick chart.||The number of charts which can be displayed in parallel is unlimited. Trading is available on a tick chart.|
|3||Number of time frames||9 time frames||21 time frames|
|4||Fundamental analysis to trade the news||The economic calendar is unavailable by default. However, extra plug-ins can be installed.||The trading platform contains the economic calendar, which includes market moving events, fundamental data, forecasts etc.|
|5||Technical indicators, graphic patterns, and analytic objects||30 technical indicators,|
|38 technical indicators,|
46 graphic patterns,
22 analytic objects
|6||Forex advisors||MetaTrader 4 editor|
Strategy Tester 4
These products are compatible only with the 4th version of a trading platform, created by the MQL4 language.
|MetaTrader 5 editor|
Strategy Tester 5
Strategy Tester Agent Manager 5
These advanced products are upgraded and compatible only with the 5th version of a trading platform. They are written by the MQL5 language. It is more complicated to develop Expert Advisors in Meta Trader 5.
|7||Types and number of orders||Market orders – 2|
Pending orders – 4
Stop orders - 2
|Market orders – 2|
Pending orders – 6
Stop orders - 2
|8||Levels||A trader can open any number of orders on the same trading instrument in the same direction, but they will be displayed on different charts. So a trader has to work with each order separately.||A trader can open any number of orders in the same direction. However, they will coincide on a chart and will be displayed as a single position.|
|9||Buying extra MQL products||Extra MQL products can be bought through the MQL web site (MQL4.com). The 4th version of a trading platform does not provide automatic access to this web portal.||Extra MQL products can be bought through a special sub-menu as part of an interface. So, traders do not have to visit the MQL web site.|
|10||Locking||A trader can lock opposite positions.||A trader can lock opposite positions.|
|11||Trading strategies (hedging, FIFO (First in, first out) etc.||Convenient trading conditions are ensured by permission to use all trading techniques and strategies.||Convenient trading conditions are ensured by permission to use all trading techniques and strategies.|
|12||Number of users||The number of brokers trading through the 4th version exceeds the number of those who prefer the 5th version.||A much fewer number of brokers offer their clients online trading services through MetaTrader 5.|
|13||Markets||Instruments traded on Forex, futures, options, securities etc.||Popular instruments traded on Forex, metals, shares.|
|15||Interface||Simple and user-friendly. The 4th version includes popular options like One Click Trading and Drag and Drop.||The interface has been streamlined. The layout has been notably updated. Popular options like One Click Trading and Drag and Drop are available in the 5th version. The search option has been added. Analytical content is provided in the Market overview window.|
|16||Client Area||All services of Client Cabinet are available to a trader.||Client Cabinet is unavailable for accounts on MetaTrader 5. A trader makes a deposit and withdraws money through a broker’s official web site.|
What commission will I get if I become your partner?
You will get 1.5 pips per trade. This is the standard practice all over the world.
How can I refer customers?
After you open an affiliate account (which is also available for trading), you can refer customers by sending them your affiliate link. When they click the affiliate link and open a trading account, they are recorded as your referrals. You can also spread the information among your friends. Another way is to tell them your affiliate code (which your friend should enter when registering a trading account), or ask them to send an email with their full name, account number, and the number of your affiliate account to email@example.com. You can learn more about the affiliate programs of the company in a special section of our website.
Is there any restriction on the withdrawal of the affiliate commission?
No, there is no restriction.
What are the requirements for registering with the affiliate program?
There are no specific requirements. You can refer customers by spreading information among your friends, as well as working as InstaForex representative in your region.
What is the PAMM contact information which I should enter after the registration with the PAMM system and what is it for?
This information will be available for your investment contractors. When you accept an investment request, this information becomes visible for you and vice versa. It establishes the communication between the system users as the company is only a technical intermediary giving the guarantee of money refund and trader's share calculation without interference in other issues between a trader and investor.
What account currency is required for registering with the PAMM system?
Only US dollar accounts can be registered with InstaForex PAMM system. If you do not have a US dollar account, you can open it online on the company's website.
I am a PAMM trader and I have accepted the investment request. What does the Waiting for Synchronization status mean?
The Waiting for Synchronization status means that your investment will be processed as soon as possible. All investment requests are processed once an hour.
I am a PAMM trader. Why did not my balance increase after I accepted a new investment?
After you click "Accept investment", the investment status changes to "Waiting for synchronization", which means that it is necessary to wait for a while until the investment reaches the account. In case there are other investments waiting for synchronization, they will be added to the account simultaneously.
Can you guarantee that a PAMM trader will not lose my money?
InstaForex PAMM system does not guarantee that the managing trader will take profit. It is meant for ensuring the technical coordination between traders and investors, which includes monitoring of PAMM accounts, money acceptance and refund. Therefore, the system guarantees your funds protection, so they will not be withdrawn by the PAMM trader. Moreover, the system ensures that you can withdraw your investment from the PAMM trader's account at a short notice within 30-60 minutes after requesting (depending on the synchronization).
Can a PAMM trader withdraw my invested funds?
InstaForex PAMM system protects investors against the risk of funds withdrawal by a PAMM trader. A PAMM trader can withdraw only his share of PAMM account not involved in trading.
Is it possible that a refund request of an investor can cause the stop out on a PAMM trader account?
If the investors share in the account is over 90% and there are a few of them or only one investor, then it is possible. But the PAMM system allows accepting investments from hundreds of PAMM traders and keep funds from hundreds of investors on one trading account, so the possibility of simultaneous withdrawal is very low and inversely proportionate to the number of investors.
Can I register an affiliate account with the PAMM system?
Yes, you can register an affiliate account with the PAMM system, but this service is available only for PAMM investors and PAMM partners.
Where can I see the current profit that I can withdraw from the PAMM trader account?
Choose PAMM system in Client Cabinet and click "My Investments". Please note that investor can withdraw only the TOTAL investment amount. If you plan to withdraw parts of the investment, you should invest different amounts to be able to withdraw them separately.
Is the SMS notification service about new investment requests free for a PAMM trader?
Yes, the service is free, but there is a limit of 10 SMS per 24 hours for one account.
Can a PAMM investor receive an affiliate commission from the PAMM trader registered with his affiliate account?
At present there are no restrictions on receiving affiliate commissions from PAMM accounts. Nevertheless, such affiliate accounts is subject to the basic rules of InstaForex affiliate program.
I am a PAMM trader, can I change a commission rate for my investors?
You set a commission rate at registering with the PAMM system. It can be changed at any time in PAMM Cabinet but will be effective only for new investments. Besides, you can create sets of conditions, so a PAMM investor can choose the conditions of investing in your PAMM account he likes best.
I am a PAMM investor, and I have sent an investment request to a PAMM trader. He has not accepted or declined it. What is the validity of the investment request, and when will the investment be credited back to my trading account?
If the PAMM trader is inactive during 72 hours after receiving an investment request, the investment will be refunded to your PAMM investor account automatically. You can also withdraw your investment if it has not been accepted by the trader.
Can I take my profit not withdrawing the investment?
Yes, you can. In order to receive part of the profit, request a rollover. This option is available in the Investments section of PAMM Cabinet. This option is active only for profitable investments. Both PAMM trader and PAMM investor can use the option.
What is rollover in InstaForex PAMM system?
Rollover is an option that allows taking profit not withdrawing the investment. When the rollover is activated, a PAMM investor and a PAMM trader receive their profit according to the profit allocation ratio.
Is it possible for a PAMM trader to deactivate the PAMM service (remove account from the monitoring list)?
In Client Cabinet you can activate the Remove Account from Monitoring function that deletes an account from monitoring. If you want to register in InstaForex PAMM system as a different user (for example, PAMM investor instead of PAMM trader, or vice versa), just open a new account. A client can register an unlimited number of accounts with InstaForex.
Can I invest a bonus in a PAMM trader account?
You can invest only the Welcome bonus 30% in a PAMM trader account.
Which personal data of a PAMM trader is available to a PAMM investor?
A PAMM investor can see the following information about the PAMM trader in Monitoring on default: account number, project name, ICQ and YM, and the name and email of a trader if he shows it. Additional information is available after investing.
Which personal data of a PAMM investor is available to a PAMM trader?
A PAMM trader sees the account number of the investor, his phone number and email registered in the PAMM system.
Can a PAMM trader account get a bonus?
Yes, a PAMM trader can get a bonus.
Can an account with a bonus be registered as PAMM trader account? And what is the destiny of the bonus?
An account with a bonus can be registered as PAMM trader account. The bonus will not be cancelled and will be recorded as PAMM trader's funds.
If an investor replenishes his account, receives bonus and then invests funds, will the bonus be cancelled?
The Welcome bonus shall not be cancelled. You are allowed to invest your bonus. Yet, if certain part of the bonus has been left on the account after the investment, this part shall be cancelled until the refund of the investment.
Where an investor can see the commission rate set by the trader?
In Monitoring. If his investment request was accepted, the trader commission rate will also available in the My Investments section of PAMM Cabinet.
When will the money deposited by an account holder be displayed on the PAMM accounts monitoring list?
On average, it will be seen in an hour on a chart and in 5-10 minutes on the monitoring list.
Does a partner receive an affiliate commission for trading of his client (who became a PAMM trader) with the invested funds?
Yes, according to the normal procedure.
How the loss is divided between the trader and investor? Proportionate to their shares participating in trading or in accordance with the profit allocation?
The loss is divided proportionate to the investor and trader shares in the account. Trader commission rate is not important in this case.
Is it possible that profitability statistics of a PAMM project displayed on the widget might not coincide with data in the PAMM monitoring list?
Different widgets are available to InstaForex clients. For example, there are widgets which display profitability statistics of PAMM projects in terms of balance and equity whereas the monitoring list with PAMM account statistics show only equity data.
How often is the information in widgets of PAMM projects updated?
Statistic data in widgets of PAMM projects is updated once an hour. Therefore, there is a small lag between the data displayed on the widget and the data on the monitoring list.
When will the funds withdrawn from the PAMM account become available for transfer within InstaWallet?
The funds withdrawn from the PAMM account will become available 12 hours after being credited to your account.
What is the ForexCopy system?
The ForexCopy system provides for copying deals of a trader in a real time mode and opening them automatically on the account of a follower. ForexCopy followers can adjust the number of trades, set the preferred ratio of lots and trading instruments to copy deals on from a certain ForexCopy trader.
Can I, as a ForexCopy follower, choose instruments and the ratio of lots for trades to copy to my account?
Yes, you can. You can copy all the trades or just trades on the instruments you chose.
When will a ForexCopy trader receive a commission for copying?
The commission is paid to a ForexCopy Trader in the following cases:
- When a subscription is cancelled by a ForexCopy Trader or ForexCopy Follower;
- When the rollover function is activated (meanwhile copying trades will continue on the account of a ForexCopy Follower without subscription cancelation);
- If ForexCopy Traders choose a daily commission, they will receive it every day at 11:30 p.m. (GMT+2).
Can I, being a ForexCopy follower, cancel a trade copied if I consider it potentially unprofitable?
You can close it in MetaTrader, but it is impossible to cancel it.
Is an application for subscription approved automatically or personally by a ForexCopy trader?
It is a ForexCopy trader who decides whether to approve applications for copying his trades automatically or manually. If the application is not approved within 72 hours, it is cancelled automatically.
How fast are trades copied within the ForexCopy system?
There might be a delay of 15 seconds maximum, but orders copied are always identical to those opened on the account of a ForexCopy trader.
Why is the list of currency pairs to choose from so small?
The list contains the most popular trading instruments only. If you select the All InstaForex Trading Instruments option, trades on all the instruments employed by a trader will be copied, including futures, stocks, and so on.
A ForexCopy trader changed the commission after I had subscribed to his deals. Shall I pay the initially set commission or the new one?
You will pay the commission you initially agreed to pay until the end of your subscription period. However, new followers of this ForexCopy trader will pay the newly set commission.
Will the order settings of a follower be changed if a trader modifies the order copied?
Yes, the order settings of a ForexCopy follower will be changed as well.
If a ForexCopy follower lacks money to pay the commission to a ForexCopy trader, does it mean that a trader will not get it at all?
In case a ForexCopy follower does not have sufficient funds to pay a ForexCopy trader the commission, all his funds will be debited from his account to cover the commission. If there is still a sum to be paid, it will be fixed by the system and debited as soon as a ForexCopy follower replenishes his account, no later than 72 hours after the subscription period expires.
Can I unsubscribe from the deals of a ForexCopy trader?
Yes, you can, provided you closed all his deals copied and currently open on your account.
Can a ForexCopy trader unsubscribe a ForexCopy follower from his deals?
Yes, a ForexCopy trader can unsubscribe a ForexCopy follower from his deals provided all the deals copied to the follower’s account are closed, and the commission paid by the follower is more than 0.
How a pending order is copied to a ForexCopy follower account?
The pending order is copied to the ForexCopy follower account when it is executed on the ForexCopy trader account.
Are there any requirements regarding the minimum balance the follower is supposed to have on his account before copying trades?
Yes, the follower is to have at least $10 (excluding bonus funds) on his account before he can start copying.
When is option trading available?
Option trading is available from 00:01 (GMT+02) Monday to 23:50 (GMT+02) Friday except for days off on Forex.
Are there any daily limits on buying options?
There are no limits on the number of options or total value of options per day.
Accounts in what currency are available for buying options?
Options trading is available for the accounts denominated in USD, EUR, RUB, US Cent, and EUR cent.
What are the minimum and maximum values of options?
The minimum and maximum option values are $1 and $1,000 for USD accounts, €1 and €1,000 for EUR accounts, RUB 30 and RUB 15,000 for the ruble-denominated accounts, respectively. For the cent-denominated accounts the minimum value is 100 cents; and the maximum value is 50,000 cents.
Where do the option prices come from?
The option price is the candlestick open price from the InstaForex-USA live account server.
Can I cancel the purchased option?
You can cancel the purchased option 3 minutes before its activation with 10% fee. You cannot cancel the option after it is activated.
What if the activation price is equal to the closing price?
If the activation price is equal to the closing price, the option is recorded as losing because the specified term has not become true.
What is an account verification? Am I entitled to trade on an unverified account?
Verification means identification of a client. It protects your trading account at recovering your password or other confidential data. According to the InstaForex Public Offer Agreement, verification of a trading account is optional. However, some InstaForex special offers are available only for verified accounts. Account verification procedure does not affect operating with your funds. You are welcome to verify your account at any time. To verify your trading account, please visit this page and send a scanned copy of any document, identifying your personality.
Where can I verify my account?
You can verify your account in Client Cabinet -> Account settings -> Verify account.
How long does it take to verify an account?
Account verification can take up to 72 working hours.
Is it necessary to verify an account?
In compliance with InstaForex Public Offer Agreement, verification of a live trading account is optional. Yet, some offers of the company are available only to verified account.
Are depositing and withdrawing available for unverified accounts?
Yes, except for the deposits/withdrawals made directly with/to a bank card. The highest level of verification is required for deposits and withdrawals made via the bank card.
What documents are required for account verification?
Any identifying documents are accepted. A passport (ID) or a driving licence are preferred though.
What is the minimum/maximum size of a scanned document copy is accepted for verification?
There is no minimum scanned document copy as such. But the document is to be of high quality, so that its data could be easily read. The maximum size is 2 MB.
I received a letter informing me that my document was not accepted for verification, what shall I do?
The document is not accepted for verification in the following cases: the scanned document copy is of low quality. You sent the document that is unsuitable for verification (no photo or your full name). The document you sent was already used for the first level of verification.
An error occurred when I was trying to upload the document, what shall I do?
If you get an error message and your document fails to be uploaded, please send detailed information about the error to firstname.lastname@example.org, specify the number of your account and attach the screenshots of the error page. You can also try to verify your account using another Internet browser.
What are the advantages of account verification?
If you passed all verifications steps, you can employ supplementary services offered by the company that are not available for unverified accounts.
I have already verified my account. Will this verification be valid for a new trading account?
If a new trading account is opened on the main website according to the standard registration procedure, documents for verification should be submitted again.
In case you open a new trading account via the cabinet of the verified account in the Account Management section, the verification will be done automatically.
How much will I earn if I start trading on Forex with minimum deposit?
It totally depends on your experience, knowledge and skills. Forex trading is very risky, and you should assume that risk and evaluate your level of professionalism. InstaForex trading conditions make your way from a newbie to an experience trader simpler.
What do support and resistance levels mean?
Support level is a level lower than the current rate, where the upward turn is possible from.
Resistance level is a level above the current rate, which the downward turn is possible from.
What is trailing stop?
When you set a trailing stop order (at X pips), the platform does nothing until your trade brings profit in amount of X pips (rate of your trailing stop). Then the platform sets stop loss order X pips far from the current price (in our case it is the break-even point). If the market price goes up, the stop loss level also moves up proportionally. If the market price goes down, the stop loss level remains. This means that the trailing stop loss follows the current price at a distance of X pips. In this way, a trader limits the possible loss but does not limit the profit profit. Therefore, a trailing stop is a stop loss control algorithm: "it follows the price to profit". Attention! Trailing stop works only when your trading platform is connected to the server through the Internet.
What does profit figure or price movement figure mean?
Profit figure is 100 pips profit. Price movement figure is 100 pips movement. Round numbers are referred to figures as well. For example: "EURUSD passes over the seventeenth figure" means that the rate exceeded the 1.1700 level.
What are the stock exchange working hours?
Trading session opens at 22:00 (GMT+00) on Sunday and closes at 22:00 (GMT+00) on Friday.
How many trading servers does InstaForex Company use and what regions are they located in?
InstaForex trading system consists of 7 trading servers for live accounts and 1 trading server for demo accounts. Seven trading servers distribute the load by the system of intermediate data centers located all around the world. So the system of 7 servers allows every client to have solid and quick connection to the trading center. In case one of intermediate data centers is overloaded, client terminal automatically switches to less loaded data center.
InstaForex trading server in the U.S.A. has 5 data centers and intended for clients all over the world, particularly, from Europe and Russia. Powerful technical innovations and reliable data channels provided by one of the best American providers make InstaForex trading server in the U.S.A. popular among the clients from Europe.
InstaForex trading server in Singapore (18.104.22.168:443) has 2 data centers and is used by the company's clients from countries of Middle East and South Asia. Short-time access to the server makes it attractive for Asian clients, who appreciate the speed of trading. Two data centers maintained by the leading providers of the largest Asian financial center - Singapore - distribute the load on the trading server in order to guarantee ceaseless access.
Regardless of the residence, new InstaForex customers can choose one of seven trading servers of the company depending on their preferences. Every InstaForex trading server is a reliable tool for managing your investments through the Internet and the difference in server access time around the world does not exceed 0.2 second. Many clients open several accounts on different servers and get the opportunity to evaluate the quality of each server in practice.
Does InstaForex Company provide services of ECN broker?
InstaForex Company is an international online forex broker offering its customers a full range of universal instruments to trade on Forex, including the ECN services. Learn more about ECN activity on the special page of the company's website.