Insafx24 Review – is it scam or safe? Instafx24 is a forex and CFD broker. While their name sounds very similar to that of 10 euro al giorno col forex broker rather popular broker, we didn’t manage to find any connection between the two. A closer look into this broker’s offer revels some issues, which we will cover below.
The costs of trading with Instafx24 are decent, but nothing spectacular. 6 pips, when playing around with the platform. Keep in mind, saving a few bucks here and there shouldn’t be your biggest concern when choosing a broker. Check the link below to view some of the most competitive offers on the market.
That being said, we don’t like the fact the higher ratios are provided to the bigger account types. In reality some of the bedt traders are the most conservative ones. Instafx24 offers accounts with no interest rates on forex transactions for those who avoid them for religious purposes. This is a nice addition, which can expand the client base. Debit Card, Skrill, Neteller and Safecharge. This variety, combined with the choice of the most popular e-wallets leaves a good impression.
With that in mind, let’s move on to the negatives. Instafx24 is registered on the Marshall Islands and does not fall under the regulatory zeal of any agency. The former point is obviously more important and probably enough for us to recommend staying away from this broker. Even more frustrating was the fact, SIRIX was not working. The other platform will be covered below. After finally starting the Instafx24 trading interface, we were not impressed. The platform felt somewhat strangely arranged, as if it was developed for an oversized tablet instead of a desktop PC.
Everything seems disproportionately big and slightly misplaced. The loading times, when changing instruments were also quite long, indicating a rather heavy software. Check the link below for more details. The account types provided by Instafx24 don’t have a specified deposit requirement.
The industry practice is to offer slightly tighter spreads to those who are willing to invest more. This is not impressive, even if there were deposit levels provided. Instafx24 is an unregulated, offshore forex broker. They may be a fairly new company, as their presentation is lacking in multiple spots. The trading platform was also not inspiring. While the spreads are relatively nice, the other issues a outweigh them. The biggest factor when comparing two brokers should be the regulation under which they operate.
Since Instafx24 isn’t under any, all clients simply accept the company’s word as the only source of credibility. Client funds must be held segregated from the company’s. This system protects your investment against your trading partner going bankrupt. ECN trading on MT4 an MT5 platforms. HY Markets is global forex broker with more than 30 years of operational experience, regulated by FCA in the UK.