Insta is regulated in Russia. not very reliable in my books, but they seem pretty legit, and i read alot about them so far. they have very fast deposit and withdrawal and nobody has problems with them apparently. Universal is regulated by ARIF apparently. their head office is in BVI with offices in Switzerland and UK. they look good so far, and their spreads are TIGHT!
my results so far: 1 trade. details below
open time: 18.6.12 0951H
order: SELL EURUSD 0.1 lots @1.26322
i used 30 pip TP and SL
closed 18.6.12 1238H @1.26035
broker time is GMT-1
all together a nice trade. i missed one last night about midnight GMT (although technically since the brown line was towards the 3 koalas, it shouldnt trigger) but i am in another now since 9am GMT.
i like to use the 30 pip SL and TP setting because i looked back a few days and it seems that the trends aren’t really going far beyond this level currently…
like i said, its only on demo at the moment, but i am really liking this simple strategy. my broker for this demo account is universal fx, and with tight spreads (1 or 2 pips, sometimes zero pips!!) its even better!