Hi. A friend of mine ask my email address because their is a broker that gives a trading account and lends you with a 1000$ balance. It says that you can trade it as a real money. Is this normal? The name of the site is Instaforex. Is this company real? Please help if someone knows about this broker.
I have checked in FPA for this company but didn’t get the positive review. Please go for it and make sure by you.
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Great…
then take the account, and once the $1,000 is deposited, WITHDRAW THE MONEY hehe
Now. let’s see if that happens.
I don’t think a broker would be stupid enough to lend a newbie $1,000
Even when they give you credit of say $300 in your account, there is still a requirement to reach a certain balance before you can withdraw
but the $300 is not a loan, it’s credit in the account that THEY WILL HONOUR if you reach the amount they specify
but, they have set this amount because they know you probably won’t get there in the beginning
I would be cautious of this broker if i were you
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Hi,
I have one fact, one question and one suggestion for you.
Here’s the fact: websites and forums and review places are full of comments about almost every broker. They’re always mixed. You don’t know who any of the people are or whether they know what they’re talking about. Some have individual grudges. Some are paid shills. Some websites are there to promote things (often with concealed affiliate links). Some people aren’t who they claim to be. Some have good experiences; others have bad experiences. From your perspective, they’re all random strangers and it’s REALLY difficult for you or for anyone else to know whom to believe. Especially in a beginners’ forum like this one, where many of the people posting don’t know a whole lot more than you do.
Did that sound like a lot of facts? It isn’t, because they all come down to the same reality: what you can learn this way is “noise”, not “information”.
Here’s the question: is it better to try to find out this way, from random strangers, or to learn for yourself how to tell whether a brokerage is likely to be safe and reliable for you (something that’s pretty easy to do)?
It’s a rhetorical question - we all know the answer, don’t we?
Here’s the suggestion: start here - 6 Crucial Things to Consider When Choosing a Forex Broker - BabyPips.com
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I am asking in this forum because I don’t want to fall or lose money by trying it all by myself. I’m just asking if someone here knows or have an experience from this broker. Sorry if my question does not fit for this forum.
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Not at all - your question fits the forum very well, and you’ll get many answers. It’s exactly the sort of thing people ask here and offer answers to. What they’re worth is another matter.
But that doesn’t detract from what I’ve mentioned above: it’s far better (and no slower or more difficult!) to learn how to tell for yourself than it is to trust the opinions of a bunch of random traders, some of whom may have concealed reasons for whatever they tell you anyway.
i have been using instaforex for over 7 years now, they are a legit broker but omg…the customer service is so bad!
and they can take days (sometimes up to 6 working days) for your deposit to through; and sometimes it goes in instantly.
On the plus side they have very good spreads, and although their spreads are variable to change, that are not erratic & don’t spike like some other brokers do.
withdrawals… i guess they are pretty good with the withdrawal process, don’t really seem to get any hassle when it comes to that.
Overall i would say they are a pretty good broker to use, just need to sort out their depositing times, because its pretty atrocious.
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It’s an old broker but honestly speaking never seen too much positive reviews at any Forex sector.
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According to me, it’s not appropriate place to rate at any broker’s performance. If you need to make certain about any brokers please go for Review sites. It’s a place to enhance trading performance by sharing real trading experience. Thank you
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There is nobody in here who is rating his company. He just is looking for information about this company, nothing without it. Thank you
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It is clearly understandable that there are no such kind of trading accounts. If it is possible then there are many cheater who will miss use the offer. Like Martin said, people gone a withdraw the money without any reason. Broker are smart enough, they try to make more money rather than giving their trader. Still if you want to invest then check their reviews in FPA. You can rely on FPA.
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Yes. They are really give u the money if you are eligible for it. But before you do that, be sure to read the term and condition.
If I am not wrong, here is what I know:
- U can use the money for trading.
- U cannot withdraw it.
- When u gain 10%, u must stop trading unless u deposit the same amount as the gain, and by then ur deposit + gain will be credited to ur account. But still u cannot withdraw the gain
- There’s some condition to be made so u can finally withdraw the gain u’ve made.
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If he check in FPA about this broker company of course he will be disappointed,
because I have never found much positive response in here.
I cannot comment if instaforex is legit or not but given all the “awards” that they’ve received you would think they are good. From my personal experience so far. It’s mixed. I just got their 1,000usd Start up bonus. I was so happy! But after reading the fine print of item number 5 of their agreements doc: secure.instaforex.com/en/agreements/startupbonus.html
I got disappointed. I spoke with support and confirmed my suspicions.
Support explained it this way… once I earned a profit of 100usd which is 10% of their 1000usd start up bonus, whether floating or realized. They will suspend the account and wait until I deposit 100usd to so I could continue trading again. Here is the kicker, after I deposit the 100usd to unlock the account, I get 30usd bonus (30% of 100usd deposit) and they will remove the 1000usd startup bonus, leaving me with 230usd to trade with. I have to admit when I first saw the ad I was very excited to receive the 1000usd startup bonus. My plan was to trade it with a 5% weekly profit goal. but to my surprise that is impossible given item 5 of their bonus rules. In reality, the bonus is really just 100usd, because they will take away the 1000usd once you make the 10% profit. I’m really sad. All that excitement for nothing. But hey at least I have 230usd. sigh 
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This broker always say, they are best from Asia . LOl. Because, I have never found positive reviews too much at any sites at all.
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I have tried them some time ago. The broker is too tricky for me. I do not understand how they execute orders and at that time, I can barely close a trade when I am making profit. Does that happen to anyone using the broker? I had to take off from there
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Have you withdrawal successfully from this trading place at all ?
I had a bonus with InstaForex, the 30% one. Well when I made a profit of 2k, and then entered into another position, InstaForex decided to take their cut of the 30% profit ……while still in a trade! I was not very happy with this to say the least.
Lesson that I learnt, never ever take InstaForex bonus, it will come back to bite you on the behind
I read lot’s of different reviews, about instaforex and mostly all of them are positive.
It’s an old brokers, with more then 7 years of working experience and more then 7 million customers.
Here is some part of review, that i found
Their base of around 7 million client impressing, yet shows their quality and reliability. That vast number of traders found their best option to the trader with InstaForex for the reason of their wide offering which includes Binary options and nowise Cryptocurrency trading through the choice of most powerful and convenient platforms of MT4 or MT5. Also by the choice of account types, that allows cent trading without a minimum for deposits. Furthermore, the company invests a lot and a lot into social activities and client’s support through generous offers and bonuses.
Thanks for your suggestion , it can be supportive for newcomers when choosing broker.
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