BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

Instaforex
0 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT INSTAFOREX
FXPro
9.9 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT FXPRO
XTB
10 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT XTB
About

InstaForex are regulated by CySEC. They were founded in 2007 and are used by over 7,000,000 traders.

FXPro is regulated by the Financial Conduct Authority, CySEC, FSB, DFSA and SCB. FXPro have provided Forex and spread betting services since 2006.

XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002.

Why choose them?
  • Yes Over 11 years in business
  • Yes Used by 7,000,000 traders
  • Yes Offers swap-free accounts
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
Headquarters Kaliningrad, Russia London, UK Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No Yes No
Social Trading Yes No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 107 75 48
Commodities Offered 2 17 21
Stocks Offered 88 156 1606
Bitcoin Yes Yes Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No No Yes
Energies No Yes Yes
Metals Yes Yes Yes
Agriculturals No Yes Yes
FTSE No Yes Yes
Dow Jones No No Yes
Dax No Yes Yes
Nikkei No No Yes
ETFs No No Yes
IPO No No Yes
See all instruments

50% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

50% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

50% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 Yes Yes No
MT4 Mac No Yes Yes
WebTrader Yes No Yes
Mirror Trader Yes No Yes
ZuluTrade No No No
Sirix No No No
cTrader No Yes No
PAMM Yes No No
Custom Platforms No No Xstation5

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes Yes Yes
Available Languages

Arabic, Chinese, English, Portuguese, Russian, Spanish, and Indonesian

Arabic, Chinese, English, French, German, Hungarian, Romanian, Turkish, Czech, Slovak, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, and Vietnamese

English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

See platform & features

50% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

79% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

77% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Instaforex and FXPro

Demo account Yes No Yes
Mini account Yes Yes Yes
Micro account Yes Yes Yes
Standard account Yes Yes Yes
ECN Account No No No
Islamic account Yes Yes Yes
Zero spread account Yes No No
VIP account No Yes Yes
Fixed spreads Yes Yes Yes
Variable spreads Yes Yes Yes
See account options

50% of retail investor accounts lose money when trading CFDs with this provider.

See account options

79% of retail investor accounts lose money when trading CFDs with this provider

See account options

77% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes Yes No
Direct market access No No Yes
STP broker Yes No Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot Varies 0.01 Lot
Max trade 1,000 Lot Varies 100 Lot
Min deposit $1 $1 $1

RISK MANAGEMENT

Stop losses No Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops No Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No Yes Yes
Neteller Yes Yes Yes
Skrill No No Yes
Payment processing time 1-2 business days 3-5 business days Same day if requested before 1PM
Withdrawal processing time 1-6 business days 1 business day Same day if requested before 1PM
See all funding options

50% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

79% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

77% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US, IR US, IR US,IN,PK,BD,IQ,IR,IL,AF,AU,CA
Contact email Send Email Send Email Send Email
Phone number 7 (812) 4580354 44 (0) 203 151 5550 44 2036953085
Live Chat Yes Yes Yes
Website https://www.instaforex.com/ http://www.fxpro.co.uk/ www.xtb.com
Spreads:
EUR/USD (Average: 0.7 pips) Not offered 0.6 pips 0.1 pips
GBP/USD (Average: 1.1 pips) 2.0 pips 0.9 pips 0.1 pips
USD/JPY (Average: 1.1 pips) 2.0 pips 0.6 pips 0.1 pips
AUD/USD (Average: 0.8 pips) 2.0 pips 1.0 pips 0.2 pips
USD/CHF (Average: 2.3 pips) Not offered 1.6 pips 0.2 pips
USD/CAD (Average: 2.9 pips) Not offered 1.0 pips 0.3 pips
NZD/USD (Average: 3.6 pips) Not offered 1.3 pips 0.3 pips
EUR/GBP (Average: 2.4 pips) Not offered 0.7 pips 0.1 pips
View all spreads

50% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

79% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

77% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee Yes No No
Commission Yes, $30 No Yes
Deposit Fee No Yes No
Withdrawal Fee Yes No No
View All Fees

50% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

79% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

77% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from https://www.instaforex.com/. Last updated on 01/08/2019.

All information collected from http://www.fxpro.co.uk/. Last updated on 01/08/2019.

All information collected from www.xtb.com. Last updated on 01/08/2019.

Company

InstaForex are regulated by CySEC. They were founded in 2007 and are used by over 7,000,000 traders.

FXPro was founded in 2006 and offers CFDs on currency pairs and five other asset classes. They serve customers in over 150 countries and offer a wide range of instruments and platforms including both MT4 and MT5.

For more information about trading with FXPro, we have put together an indepth FXPro review with some of the pros and cons about this broker.

XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances.

XTB operates with two factors in mind; to provide traders with the fastest execution speeds and to be the most transparent broker on the market, which is reflected by the services and products they provide.

XTB also have a dedicated education area - the Trading Academy - which contains material to help you become a better trader, including video tutorials, trading courses, articles and much more to improve your skills at every step of your trading journey.

If you are looking for a broker that is regulated by the Financial Conduct Authority and focuses on transparency, fast execution speeds and customer service, XTB is a great option.

For more information about trading with XTB, we have put together an in-depth XTB review covering the pros and cons of this broker.

Popular comparisons

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Popular comparisons feat. FXPro

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Popular comparisons feat. XTB

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Instaforex or FXPro?

Offers Demonstration accounts or a wide range of instruments?

If you’re a trader looking for a broker that offers demonstation accounts, Instaforex may be the better option. However, if you want a broker with a large range of instruments available to trade, FXPro may be more suitable.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider FXPro to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

Instaforex is regulated by CySEC, while FXPro is regulated by Financial Conduct Authority, CySEC, FSB, DFSA and SCB.

As the Financial Conduct Authority are one of the most stringent regulators in the world, FXPro will have very strict guidelines to follow to ensure they protect their retail trader clients.

XTB are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

Instaforex has been around for 12 years, while FXPro have been around for 13 years. Our third alternative broker, XTB, have been around for 17 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Instaforex does not use tier one banks as their banking partner. FXPro uses tier one banks as their banking partner.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Instaforex is more popular with over 7,000,000 traders.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both Instaforex and FXPro are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Instaforex are based in Kaliningrad, Russia, while FXPro are based in London, UK .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Instaforex and FXPro offer forex trading. Instaforex have a slightly larger variety of currency pairs with 107 pairs, compared to 75 offered by FXPro. Also, if you’re looking to trade cryptocurrencies, Instaforex offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

If you’re looking to trade commodities like gold, silver or oil, Instaforex may be a better fit as FXPro does not offer commodity trading.

Instaforex also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both Instaforex and FXPro offer this. Both brokers also offer the new & improved MT5 platformOur alternative broker, XTB, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. FXPro, for example, offer a mini account, standard account and VIP account.

For Muslim traders, Instaforex offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

Instaforex does allow scalping and hedging. While FXPro also allows scalping and hedging. You can trade with EAs (expert advisors) on both Instaforex and FXPro.

In terms of risk management tools, Instaforex doesn't offer negative balance protection, but FXPro does. Negative balance protection prevents you owing your broker more than you’ve deposited.

Instaforex accept Neteller while FXPro accept Paypal.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, Instaforex and FXPro both charge 0.00 points. Therefore, both brokers are equally affordable for this instrument. You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: Instaforex or FXPro?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, FXPro is more reliable based on our criteria above. FXPro has a wider range of instruments to trade. Instaforex offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.