Do you have any questions?
Do you have any questions?
Financial Questions
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.
The minimum withdrawal amount is $10.
Minimum deposit amount is $5.
You can deposit funds into your InstaForex account using various methods, including bank transfers, credit cards, and online payment systems.
To deposit your funds in Naira, follow these steps:
- Pay to the bank account below:
Bank: GUARANTY TRUST BANK
Account Name: FX INSTA AFRICA
Account Number: 0131860376 - Fill the deposit form.
Your account will be funded in less than 15 minutes. The minimum funding amount is $5. For more details, you can visit the Deposit Funds page.
It takes 5 - 10 minutes to fund your account
4 - 5 business hours. Though sometimes, it can take a few minutes.
Yes. InstaForex Nigeria clients can withdraw through us without completing verification.
Yes. We process deposits over the weekend.
General Questions
Yes. InstaForex Nigeria representative is located at:
31 Wetheral Road,
Angelina House (First Floor) Owerri,
Imo State,
Nigeria.
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.
Promotions
- Register a real trading account
- Replenish your account with any amount
- Fill out the application form for the bonus
- Receive bonus to your trading account
- Complete buy or sell trades
- Meet the trade volume requirements
- Withdraw the profits made over the bonus
- Register a real trading account
- Replenish your account with any amount
- Fill out the application form for the bonus
- Receive bonus to your trading account
- Complete buy or sell trades
- Meet the trade volume requirements
- Withdraw the profits made over the bonus
For a chance to participate in the Hyundai Sonata 2024 raffle draw, you have to fulfill two simple requirements:
- Open a Live Account
- Deposit into your trading account at least $500;
- Register.
Campaign is open between December 25, 2023 and December 13, 2024. Thus, in winter 2024 the lucky one will take the keys from stylish and city roomy sedan Hyundai Sonata.
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, unavailable, unavailable | 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, securities etc. | Popular instruments traded on Forex, metals, shares. |
14 | Market depth | Unavailable | Available |
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. |
Trading Terms
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.
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.
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.
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.
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".
InstaForex never increases spread during the news releases. Every trader can be confident that trading terms will remain steady even during the news events.
There are no restrictions on the use of advisors.
No, it is impossible. If a trader loses more than he has in a trading account, the company must cover the loss to 0.
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.
Variable spread is a common tool used by the largest international brokers. It is applied for a number of trading instruments, including EUR/GBP and EUR/CHF. Spread is the broker`s reward for a transaction, determined by the market conditions in which the company operates. Due to the increased spreads of counterparties and low volatility, spread was moved to a variable state. The information on all instruments for which a variable spread is used is available on the page of specifications.
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.
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.
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 clients@instaforex.com or support@instaforex.com with the following information: trading account number, phone password and leverage you want to have. Also you can contact the Customer Support Service and write the same data.
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 support@instaforex.com or clients@instaforex.com, 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 clients@instaforex.com or support@instaforex.com 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.
Yes, you may. There are no restrictions on the number of live and demo accounts opened in one name.
No, you can type in any number of lots (up to 10000).
PAMM System
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.
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.
The Waiting for Synchronization status means that your investment will be processed as soon as possible. All investment requests are processed once an hour.
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.
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).
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.
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.
Yes, you can register an affiliate account with the PAMM system, but this service is available only for PAMM investors and PAMM partners.
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.
Yes, the service is free, but there is a limit of 10 SMS per 24 hours for one 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.
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.
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.
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.
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.
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.
No, you cannot invest bonus funds in PAMM.
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.
A PAMM trader sees the account number of the investor, his phone number and email registered in the PAMM system.
A PAMM trader sees the account number of the investor, his phone number and email registered in the PAMM system.
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.
Yes, you can. You can copy all the trades or just trades on the instruments you chose.
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).
You can close it in MetaTrader, but it is impossible to cancel it.
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.
There might be a delay up to 2 minutes, but the instrument, ratio, price and volume are always copied.
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, indices, metals, commodities and cryptocurrency.
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.
Yes, the order settings of a ForexCopy follower will be changed as well.
In case when the balance on the ForexCopy Follower`s account is not sufficient to pay out the commission owed to the Trader after the closure of a trade, the remaining balance will be debited from follower`s account to pay out the commission owed. The remaining pending liability will be covered from the next ForexCopy follower`s next credit to the account, no later than 72 hours after the subscription expires.
Yes, you can, provided you closed all his deals copied and currently open on your account.
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.
The pending order is copied to the ForexCopy follower account when it is executed on the ForexCopy trader account.
Yes, the follower is to have at least $10 (excluding bonus funds) on his account before he can start copying.