Instaforex_closed Discussion

InstaForex Broker Review:

3 Pip Fixed Spreads on all majors and 5-10 Pip Fixed on minors... Some go as high as 18 Pips.
100 Gold and 30 Silver:

Overall:
Spreads are too high on most pairs.
In contrast a 3 pip Fixed spread on GBPUSD and EURJPY is OK and to have another broker without floating spreads during news releases and market opens is suggestible.

Broker Plugin: I received 70-80% requote rate. It is unbearable. I even increased the slippage. It has no affect and will not avoid the requote confirmation window.

Closing profitable trades would always mean a requote and possibly more than 1 requote during good momentum. I use MT4 Scripts' Close ALL Profits' and 'Sell/Buy' . This helped to avoid the requotes and force the order through without getting the requote window.

Deposit/Withdraw: I use AlertPay and It is easy quick, and cheap. NO problems either in or out.
Signup: The easiest online application. I was up and trading within 72 hours. App and Deposit.
Daily Statement Confirmation: It is nice to have a copy within email.
Open account with $1: 1000:1 leverage- USA and SINGAPORE SERVERS.
PAMM: Their PAMM is easy to use, allocation works fine. deposit/withdraw works good. Easy structure, and easy setup.

RED FLAG:

Instaforex discloses the right to delete any profits that:
1. The trade is Opened/Closed within 2 Minutes
2. The trade is less than 3 Pips.

I was not aware of this, until someone told me about these rules within Instaforex Forum. I changed my strategy, added a Timer Clock, and started to Use Move BE+3.... We just have to adjust to meet their Shady Broker specifications.

RED FLAG:

CAD CPI News release in AUG 2010. Servers disconnected for 9 mins. On Both Servers. ''I had several accounts Open''

Conclusion:

Depends on your goals and objectives. You may love Insta, and you may not have problems. But, if you can afford more than $1, there are far better brokers available.

Their PAMM system is actually better than some other brokers. They offer full transparency to trading activity, widgets, and userfriendly PAMM monitoring.


I had intentions to use their PAMM and this was the sole reason for testing this broker.

 However, I can not use a broker that has a Broker Plugin and the Server disconnects.

pipinvestment1 posted:
    InstaForex Broker Review:

  I use MT4 Scripts' Close ALL Profits' and 'Sell/Buy' . This helped to avoid the requotes and force the order through without getting the requote window.

Once I started to use the scripts, I was able to decrease the requote box. I also started to use Entry orders, which improved execution time. Overall, once I found a way to prevent delayed execution from the inevitable requote I was able to scalp efficiently.

A member from Instaforex Forex Form mentioned that requotes were only from lack of Liquidity and the broker was just giving you the next best price...... Then, I shared an article explaining that MetaQuotes designed a Broker Plugin that would allow Any MetaTrader Broker to automatically requote their clients.

From my experience, most brokers that do Not charge a Commission on volume are often the MetaTrader brokers that use Broker plugins. It is a brokers TOOL, to make more money, or to prevent profitable traders from making money.

Somehow, I find it odd that brokers would try to prevent succesfull traders making money, since higher balance usually means higher volume, hence higher earning for the broker aswell, somehow they're killing their own business...

Regarding Instaforex, they have a nice bonusprogram - 30% nonwithdrawable bonus on all net deposits, that means instead of having 1000$ to trade with you have 1300$ (maybe) making you able to earn more profits. Once you start trading, the bonus becomes withdrawable, but there's HUGE tradingamounts needed to withdraw all of it.
Second, through an IB of my knowledge they offer 1.3 pip rebate deposited to tradingaccount every Sunday, which is the highest I've seen so far (there may be better deals I don't know of), I can give you a link in PM if you want it, no commercial links in ordinary forum [smile]
Third they offer a 6% yearly interest-rate on an inactive account, and 13% on an active account (depositing in 2 rounds, first the 6% at 23:59:59 brokertime (GMT+2) on the last day of the month, the active a few days later)
I use my own EA, and the biggest problem I have is platform crash (critical error) but I don't know if its my programming that messes with the system (along with all the other backgroundhoggers I've got running - have to get that VPS some day 😳) or if it's something else. I'm trading 28 pairs on the same Metatrader terminal, all running the EA.

Cheers

Soeren

GridsForPips posted:
    Somehow, I find it odd that brokers would try to prevent succesfull traders making money, since higher balance usually means higher volume, hence higher earning for the broker aswell, somehow they're killing their own business...

 and 13% on an active account (depositing in 2 rounds, first the 6% at 23:59:59 brokertime (GMT+2) on the last day of the month, the active a few days later) 😄 Thats better than a hedge Fund's Annual return


 I'm trading 28 pairs on the same Metatrader terminal, all running the EA. 😎 - The fixed spreads must be expense

Cheers

Soeren

It almost sounds like you like this broker. 😄 But I am glad that you are High lighting the good aspects of this broker as I only focused on the negative aspects. I have considered to use InstaForex PAMM as the US has made more regulations and I really did love the 1000:1 Leverage. Maybe i'll throw in a $100 into a insta PAMM .lol
Within a year. I'll have a 13% gain and thats better than any Savings account. maybe take 1 position for the year and hold it for High yield as well. The AUD/JPY is looking hot for the next year......

September 3rd 2010 Friday, US Session, Frankfurt Close. Instaforex Servers disconnect: Ironically I was trying to login at the same time. I thought I had the wrong account # and password, but sure enough, it was Insta's servers.

7:00am (PST) USD
ISM Non-Manufacturing PMI

51.5
53.6
54.3

InstaForex Servers Down on Singapore and USA.
Singapore servers came back 1 minute before USA.

Who knows, maybe this happened twice today, possibly at Non Farm =US open too,

Hmm, wonder if their disconnetion was causing my crash today, note: remember to be there at high importance news to restart 😁.

Newstraders beware, You're not gonna like Instableforex 😲.

I'm ok for now, but if it's a persisting problem, I've gotta find another broker 😞

Cheers

Soeren

GridsForPips posted:
    Hmm, wonder if their disconnetion was causing my crash today, note: remember to be there at high importance news to restart 😁.

Newstraders beware, You're not gonna like Instableforex 😲.

I'm ok for now, but if it's a persisting problem, I've gotta find another broker 😞

Cheers

Soeren

My first disconnect was on a AUD PMI news release, Instaforex servers were down for a total of 9 minutes. Unbearable to say the least. Since Instaforex offers the fixed spreads, News Traders often look for these brokers to make a fast buck, but from the repeated disconnects at News, Instaforex can their own way of preventing Easy Money.

I also encountered 10-20 Second delays on FXOPEN this morning on the NON-Farm. I also encountered 2 requotes With the 10 second delays in between the Reqoutes as I tried to close my GBPJPY LONGS..... So FXopen is also using the Broker Plugin- The MT4 broker plugin has the ability to delay order execution and give requotes.

Eek in Deed. ! 😄

why do people STILL patronize instaforex..primeforex..liteforex ....scamforex !! its 2010 already..lets wake up🙄

Yeah, Just another shady broker. But if the trader can make a profit and pull the profits out... its still a method to a means. Definitely not a place where you want all your funds.🙄

instalforex, have had many nagative stuff bout them, plus how they refused the withdrawal of a client who suffered and trade a $350 initial deposit to $33,000, the make sure he never withdrew that money

Moneymanagement posted:
    instalforex, have had many nagative stuff bout them, plus how they refused the withdrawal of a client who suffered and trade a $350 initial deposit to $33,000, the make sure he never withdrew that money

It's a russian broker, completely expected.

Moneymanagement posted:
    instalforex, have had many nagative stuff bout them, plus how they refused the withdrawal of a client who suffered and trade a $350 initial deposit to $33,000, the make sure he never withdrew that money

Hi friend,

Do you have any reference about this issue? Please share.

Thanks,
SIM