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Insafx24 Review - is it scam or safe?

Instafx24 Review - Is instafx24.com scam or good forex broker?

Insafx24 is an offshore broker. Your money is not safe.

Trading Accounts & Conditions


Account type Minimum deposit Maximum leverage Spread
Mini    Uspecified    1:100 Around 1.6 pips
Bronze    Uspecified    1:100 Around 1.6 pips
Silver    Uspecified    1:200 Around 1.6 pips
Gold Uspecified    1:200 Around 1.6 pips

Instafx24 is a forex and CFD broker. While their name sounds very similar to that of a 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.

Instafx24 Advantages

Average spreads
The costs of trading with Instafx24 are decent, but nothing spectacular. We saw a EUR/USD spread of 1.6 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.

>>Real-time spread comparison<<

Decent leverage ratios
With the 1:100 and 1:200 offers, this broker provides more than enough “gearing”. That being said, we don’t like the fact the higher ratios are provided to the bigger account types. This creates the (false) impression bigger leverage is a “luxury”. In reality some of the bedt traders are the most conservative ones.


Swap-free accounts
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.


Alternative payment methods available
One can deposit at Instafx24 via Bank Transfer, Credit/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 Disadvantages

No regulation, offshore company
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.


Multiple platforms presented, only one available
The platform you will be trading wit is probably the second most important thing you should look at (after the regulatory environment). Instafx24 claims to offer the popular solution MetaTrader4. We were surprised to be given the choice between SIRIX and a “Web platform” when opening an account. Even more frustrating was the fact, SIRIX was not working. The other platform will be covered below.


Odd web platform
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. Keep in mind we have reviewed multiple forex brokers and cryptocurrency exchanges and have yet to experience something this slow. Here is a preview (click to zoom-in):

We would much prefer trading with a MetaTrader broker, as the platform supports multiple devices, excellent charting and even automated trading systems. Check the link below for more details.

>>Top MT4 brokers<<


Account types are meaningless
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. The benefits provided by this broker are limited to a higher leverage ratio and secondary perks, like “more analysis”, “a dedicated account manager” and so on. 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. We would like to mention a few of the rules which companies under the United Kingdom’s Financial Conduct Authority (FCA) must follow, to illustrate our point.

 >>FCA regulated brokers<<

Client funds must be held segregated from the company’s. In other words, an FCA regulated broker can’t simply take your deposit and offer “paper trading”. On top that, the Financial Services Compensation Scheme (FSCS) is in place. This system protects your investment against your trading partner going bankrupt. In the off chance this happens, you will be compensated for your funds with them, up to £50,000.

Here are the strong and weak sides of Instafx24:

Pros Cons
Average spreads No regulation, offshore company
Decent leverage ratios Multiple platforms presented, only one available
Swap-free accounts Odd web platform
Alternative payment methods available Account types are meaningless


Latest news about Insafx24
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec, FCA MT4, MT5, Web $5 Review Website
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Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Australia ASIC MT4, MT5,
$200 Review Website
Seychelles FinaCom MT4, Web $10 Review Website
















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Traders` reviews for Insafx24

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