image Instaforex VISIT INSTAFOREX image Spread Co VISIT SPREAD CO image City Index VISIT CITY INDEX
About

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

Spread Co is regulated by the Financial Conduct Authority. Spread Co have provided Forex trading services since 2005.

City Index is regulated by the Financial Conduct Authority. City Index have provided Forex trading services since 1983.

Why choose them?
  • Yes Over 11 years in business
  • Yes Used by 7,000,000 traders
  • Yes Offers swap-free accounts
  • Yes Over 13 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters Kaliningrad, Russia London, UK London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting No Yes Yes
Social Trading Yes No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 107 40 84
Commodities Offered 2 2 26
Stocks Offered 88 1000 4500
Bitcoin Yes No 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 Yes Yes
Dax No Yes Yes
Nikkei No No Yes
ETFs No Yes Yes
IPO No Yes No
See all instruments

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

See all instruments

61.8% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

70% 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 No Yes
MT5 Yes No No
MT4 Mac No No No
WebTrader Yes Yes Yes
Mirror Trader Yes No No
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM Yes No Yes
Custom Platforms No Spread Co AT Pro, Advantage Web

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes No Yes
Available Languages

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

English and German

English, Spanish, German, Arabic, Polish, and Chinese

See platform & features

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

See platform & features

61.8% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

70% 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 Spread Co

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

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

See account options

61.8% of retail investor accounts lose money when trading CFDs with this provider

See account options

70% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes No No
Hedging Yes Yes Yes
Expert advisors (EAs) Yes No Yes
Virtual private server Yes No No
Direct market access No No No
STP broker Yes No Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot £1 1 Lot
Max trade 1,000 Lot None Varies
Min deposit $1 $100 $25

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 No Yes
Signal trading Yes No Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No No
Neteller Yes No No
Skrill No Yes No
Payment processing time 1-2 business days Varies 2-3 business days
Withdrawal processing time 1-6 business days Varies 2-3 business days
See all funding options

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

See all funding options

61.8% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

70% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries US US US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW
Contact email Send Email Send Email Send Email
phone number 7 (812) 4580354 0800 078 9398 0845 355 0801
Live Chat Yes Yes Yes
Website https://www.instaforex.com/ https://www.spreadco.com/ www.cityindex.co.uk
Forex Spreads
EUR/USD 0.50
GBP/USD 0.80
USD/JPY 0.50
AUD/USD 2 N/A 0.5
Cryptocurrency Spreads N/A 70
View all FX spreads

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

View all FX spreads

61.8% of retail investor accounts lose money when trading CFDs with this provider

View all FX spreads

70% of retail investor accounts lose money when trading CFDs with this provider

INDICE SPREADS
Dax 30 1 1.0
Nasdaq 100 1 1.0
Euro Stoxx 50 N/A 2.0
ASX 200 1.0
S&P 500 0.4 0.4
FTSE 100 7.8 1.0
Google 0.0015
Facebook 0.0015
View all spreads

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

View all spreads

61.8% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

70% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee Yes No Yes
Commission Yes, $30 No 0.0015
Deposit Fee No Varies Varies
Withdrawal Fee Yes Varies Varies
View All Fees

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

View All Fees

61.8% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

70% of retail investor accounts lose money when trading CFDs with this provider

Featured In Best MT5 Brokers
Best Brokers For Expert Advisors
Best 5 Digit Brokers
Best Brokers With VPS
Best Brokers For Indices
Best Spread Betting Brokers
Best FTSE100 Brokers
Best Dow Jones Brokers
Best DAX Brokers
Best FCA Regulated Brokers
Best Day Trading Brokers
Best Brokers For Commodities
Best Brokers For Copper
Best DAX Brokers
Best FCA Regulated Brokers
Last update

All information collected from https://www.instaforex.com/. Last updated on 01/05/2019.

All information collected from https://www.spreadco.com/. Last updated on 01/05/2019.

All information collected from www.cityindex.co.uk. Last updated on 01/05/2019.

Company

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

Since 2006 Spread CO have been a global leader in spread betting and CFD services with their competitive spreads, low margins and growing trading community. They provide fixed spreads so you know the spread you see is the spread you get. Every Spread Co client is assigned a dedicated relationship manage who will not only help you get get started on their trading platform but also keep you informed with market updates. The benefits of trading with Spread Co include tight, fixed spreads, no finance charges on short index or equity positions, low margins, relationship manger combined with their trusted reliable platform and ultra low commissions. Spread Co is also regulated by the stringent Financial Conduct Authority making them a great option for those looking for a trusted spread betting or CFD service provider.

For more information about trading with Spread Co, we have put together an indepth Spread Co review with all the pros and cons about this broker.

Since establishing themselves as one of the first spread betting providers in the UK. , City Index have grown to a global company in over 50 countries completing over two million trades every month. City Index provide some of the most competitive spreads across thousands of markets including indices, shares, currencies, commodities and many more.

City Index have continued to innovate and were the first to provide a downloadable Android and iPhone app for spread betting and CFD trading and with over 30 years experience in the industry, you know you can trust Cityindex to handle your trades.

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

Popular comparisons

Popular comparisons feat. Instaforex

Instaforex Alternatives

ETX Capital vs Instaforex
Core Spreads vs Instaforex
Plus500 vs Instaforex
IG vs Instaforex
Avatrade vs Instaforex

Popular comparisons feat. Spread Co

Spread Co Alternatives

ETX Capital vs Spread Co
Core Spreads vs Spread Co
Plus500 vs Spread Co
IG vs Spread Co
Avatrade vs Spread Co

Popular comparisons feat. City Index

City Index Alternatives

City Index vs IG
City Index vs CMC Markets
City Index vs Plus500
City Index vs Forex.com
City Index vs IC Markets

Instaforex or Spread Co?

Access to MT4 or low spreads?

If you’re a trader looking for a broker that offers the popular MT4 trading platform, Instaforex is likely a better fit. However, if you want a broker with lower spreads on currency pairs like EUR/USD, Spread Co may be more appropriate.

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 Instaforex to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

Instaforex is regulated by CySEC, while Spread Co is regulated by Financial Conduct Authority.

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

City Index 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 Spread Co have been around for 14 years. Our third alternative broker, City Index, have been around for 36 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. Spread Co 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.

According to their websites, Instaforex is more popular with over 7,000,000 traders, while Spread Co is used by 5,000 traders. City Index, in comparison, is used by 140,000.

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 Spread Co 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 Spread Co 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 Spread Co offer forex trading. Instaforex have a slightly larger variety of currency pairs with 107 pairs, compared to 40 offered by Spread Co. 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 Spread Co 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

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

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. City Index, for example, offer a mini account, standard account and VIP account.

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 Spread Co does not allow scalping but does allow hedging. You can trade with EAs (expert advisors) on Instaforex but you can't trade EAs (expert advisors) with Spread Co.

In terms of risk management tools, neither Instaforex or Spread Co offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

Instaforex accept Neteller while Spread Co accept Skrill.

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 Spread Co both charge 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 Spread Co?

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

Objectively, Instaforex is more reliable based on our criteria above. Spread Co 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.