Eda Kaya

Fact checker:

Eda Kaya
Modified:

InstaForex NG Broker Review 2025

InstaForex NG Broker Review 2025
Go to Website
Your Capital is at risk.
Company:InstaForex NG
Founded:2011
Min Deposit:$5
Max Leverage:1000
Headquarter:

Imo State, Nigeria

US Accepted:
Free $70 Bonus After Training ForexCopy CFDs on Futures Deposit Bonuses of up to 55% PAMM Accounts

Investing and trading in financial markets such as the stock exchange, forex, digital currencies in the form of spot or with leverage face a high inherent risk. According to the statistics of all exchanges and brokers, more than 75% of people lose!

Your Capital is at risk.

About
InstaForex NG is an award-winning broker with over 60 prizes, including the “Best Crypto Broker 2023” and the “Best Customer Service 2022”. In addition to traditional Forex trading with no commissions and spreads from 0.0 pips, the company offers the ForexCopy system with a minimum deposit requirement of $10.
Contact
31 Wetheral Road, Angelina House (First Floor) Owerri, Imo State, Nigeria
Rank and Score
Pros and Cons
Account Types
Platforms
Pros
Low minimum deposit ($1)
Competitive spreads
Attractive bonus programs
High leverage (up to 1:1000)
Cons
No regulation in Africa
Limited trading assets
No support for TradingView
Lack of 24/7 support
score of blog
5 From 5.0
(1)
Rate this post
358

InstaForex NG offers access to 400+ trading instruments across 6 asset classes, including Forex, Crypto, and Futures. The broker has Cent and Swap-free accounts with a minimum deposit requirement of $5.

InstaForex NG
InstaForex NG, A broker with 17+ years of experience

Welcome gifts of up to 55% and a Forex training course are some of the company’s attractive offerings.

InstaForex NG; An Introduction to the broker and Its regulatory status

InstaForex is a global Forex Broker company with licenses from CySEC and BVI FSC. The broker operates in Nigeria through its representative, InstaForex NG. Key features of the company:

  • Minimum deposit: $5
  • 7M+ users
  • Founded in 2007
  • Spreads from 0.0 pips
  • 10 trading servers across the UK, USA, EU, Singapore, and Hong Kong

Note that the company is not regulated by any financial authorities in Africa, including the FSCA.

InstaForex NG Specific Details

The broker offers access to swap-free and cent accounts for a minimum deposit of $5.

Let's look at some specific details about InstaForex NG:

Broker

InstaForex NG

Account Types

Insta.Standard, Insta.Eurica, Cent.Standard, Cent.Eurica

Regulating Authorities

None

Based Currencies

USD, EUR

Minimum Deposit

$5

Deposit Methods

Bank Transfer, Visa, MasterCard, Online Banking, Mobile Money, ATM Transfer, Mobile Transfer, Internet Transfer, Cash Deposits, Verve

Withdrawal Methods

Bank Transfer

Minimum Order

0.01 lots

Maximum Leverage

1:1000

Investment Options

PAMM, ForexCopy

Trading Platforms & Apps

MT4, MT5, WebTrader, InstaTrade, Multiterminal

Markets

Forex, Stocks, Indices, Commodities, Crypto, CFDs on Futures

Spread

From 0.0 pips

Commission

From $0.0

Orders Execution

Instant

Margin Call / Stop Out

30% / 10%

Trading Features

ForexCopy, PAMM, Cent Accounts, 55% Deposit Bonus

Affiliate Program

N/A

Bonus & Promotions

30% / 55% Deposit Bonus, Free $70 After Training

Islamic Account

Yes

PAMM Account

Yes

Customer Support Ways

Email, Tel, WhatsApp, Live Chat

Customer Support Hours

24/5

InstaForex NG Broker Account Types

Regarding account types, InstaForex NG doesn't believe in a one-size-fits-all approach. They offer 4 main account types to cater to different trading styles and preferences:

Features

Insta.Standard

Insta.Eurica

Cent.Standard

Cent.Eurica

Base Currency

EUR, USD

EUR, USD

EUR Cents, USD Cents

EUR Cents, USD Cents

Min Deposit

$5

$5

$5

$5

Max Deposit

Unlimited

Unlimited

$1,000

$1,000

Min Order Size

0.01 lots

0.01 lots

0.0001 lots

0.0001 lots

Max Leverage

1:1000

1:1000

1:1000

1:1000

Margin Call

30%

30%

30%

30%

Stop Out

10%

10%

10%

10%

Spreads (Pips)

3 - 7

0

3 - 7

0

Fees

0

0.03% - 0.07%

0

0.03% - 0.07%

While the account page on the broker’s website suggests that the minimum deposit is $1, the main page indicates that you need at least a budget of $5 to open a Live account.

InstaForex NG Account Offerings
InstaForex NG accounts’ features and specifications

InstaForex NG Pros and Cons

Like any Forex broker, InstaForex NG has strengths and weaknesses. To have a balanced view, we must weigh the company's upsides against its downsides.

Pros

Cons

Low minimum deposit ($1)

No regulation in Africa

Competitive spreads

Limited trading assets

Attractive bonus programs

No support for TradingView

High leverage (up to 1:1000)

Lack of 24/7 support

Registration and Verification

Opening a trading account is limited to non-EU residents and includes a KYC (Know Your Customer) process to ensure compliance with global AML (Anti-Money Laundering) standards. The verification is mandatory before gaining access to live trading across regulated financial markets.

#1 Visit the Official Website

Go to the broker’s official website and click on the “Open Live Account” button to begin the registration.

#2 Fill Out the Registration Form

Enter your personal information, including name, email, country of residence, and other requested details, to initiate your profile.

#3 Submit Proof of Identity

Upload a valid government-issued ID, such as a passport or driver’s license, to verify your identity.

#4 Provide Proof of Address

Submit a recent utility bill or bank statement as confirmation of your current residential address.

#5 Complete Verification and Start Trading

Once your documents are approved, your account will be activated, granting access to a broad range of trading instruments and live market features.

InstaForex NG Trading Platforms

In this InstaForex NG review, we must mention that the broker offers access to the robust MetaTrader 4 and MetaTrader 5 platforms alongside a proprietary mobile app, InstaTrade.

MetaTrader 4 (MT4)

MetaTrader 5 (MT5)

InstaTrade

InstaForex NG Broker Trading Fees

Whether you prefer fixed or zero spreads with a small commission, the company has covered you. Trading fees vary based on the account type:

Account Type

Spreads (Pips)

Commission

Insta.Standard

3 - 7

0

Insta.Eurica

0

0.03% – 0.07%

Cent.Standard

3 - 7

0

Cent.Eurica

0

0.03% – 0.07%

Withdrawals and Deposits

The broker supports multiple deposit options, from bank transfers to credit/debit cards. However, withdrawals are only processed through the clients’ bank accounts.

InstaForex NG deposit options:

  • Opay
  • Sterling Bank
  • Globus Bank
  • GTBank
  • Visa
  • MasterCard
  • Online Banking
  • Mobile Money
  • ATM Transfer
  • Mobile Transfer
  • Internet Transfer
  • Cash Deposits
  • Verve

InstaForex NG Investment Plans

The company also has investors in mind. It offers two growth plans, including PAMM accounts and Copy Trading, with the following key features:

PAMM (Percentage Allocation Management Module) System

  • Access to experienced traders' accounts
  • No limitations on minimum or maximum investment amounts
  • Risk diversification through multiple PAMM account investments
  • Transparent trading history and performance metrics of PAMM traders

ForexCopy System

  • Automatic copying of successful traders' strategies
  • Ideal for those who want to profit without developing their trading strategies
  • More than 400 tradable instruments
InstaForex NG ForexCopy
InstaForex NG ForexCopy service has a minimum deposit requirement of $10

What Markets Does InstaForex NG Support?

The broker provides access to 400+ trading instruments across 6 asset classes, catering to various trading preferences and strategies.

Promotional Programs

Promotion is the most attractive topic in this InstaForex review.

The broker provides multiple bonus offerings, including:

  • Free $70 After Forex Trading: A $70 gift upon completing the InstaForex Nigeria training course;
  • Deposit Bonus: A 30% and a 55% welcome gift for each new deposit with withdrawable profits

How to Reach Customer Support?

The broker boasts 24/5 support through multiple channels, from Hotlines to WhatsApp chat.

Email

support@instaforex.com.ng

Tel

+234 813 345 0038 (WhatsApp Call)

WhatsApp

Message

Address

31 Wetheral Road, Angelina House (First Floor) Owerri, Imo State, Nigeria

Live Chat

Available on the official website

Trust Scores

While there are no dedicated InstaForex NG reviews on reputable sources like Trustpilot, Forex Peace Army, and Reviews.io, its mother company, InstaForex, has profiles on these websites.

InstaForex TrustPilot
InstaForex NG’s mother company has gained 65% positive reviews (4-star and 5-star) on TrustPilot

As is evident in the screenshot, approximately 65% of the reviews have been submitted with a 4- or 5-star rating; the broker has replied to all negative reviews, with an average response time of less than 2 days.

You should note that ForexPeaceArmy has issued a scam alert about the broker.

InstaForex Trustpilot

3.3/5 based on 379 reviews

Reviews.io

2.6/5 based on 137 ratings

Does InstaForex NG Provide Education for Traders?

The brokerage company places a strong emphasis on trader education, offering a comprehensive suite of resources, including:

  • Forex training course
  • Blog posts about trading strategies, platforms, and terms
  • Trading signals
  • Market analysis

InstaForex NG in Comparison to Major Brokers

The table below evaluates the discussed broker against some of the other players in the industry:

Parameter

InstaForex NG Broker

XM BrokerLiteForex BrokerExness Broker

Regulation

None

ASIC, FSC, DFSA, CySECCySECFSA, CySEC, FCA, FSCA, CBCS, FSC, CMA

Minimum Spread

0.0 PipsFrom 0.6 Pips0.0 Pips0.0 Pips

Commission

From $0

None Except On Shares Account
No Withdrawal & Deposit Commissions
From ZeroFrom $0.2 to USD 3.5

Minimum Deposit

$5

$5$50$10

Maximum Leverage

1:1000

1:10001:30Unlimited

Trading Platforms

MT4, MT5, WebTrader, InstaTrade, Multiterminal

MT4, MT5, Mobile AppMetaTrader 4, MetaTrader 5, Mobile Proprietary AppExness Trade (mobile), Exness Terminal (web), MT4, MT5

Account Types

Insta.Standard, Insta.Eurica, Cent.Standard, Cent.Eurica

Micro, Standard, Ultra Low, SharesClassic, ECN, DemoStandard, Standard Cent, Pro, Raw Spread, Zero

Islamic Account

YesYesNoYes

Number of Tradable Assets

400+

1400+N/A200+
Trade ExecutionInstantMarket, InstantMarketMarket, Instant

Conclusion and Final Words

InstaForex NG provides access to 107 currency instruments and 83 CFDs on US stocks with leverage options of up to 1:1000.

The broker supports Naira deposits and withdrawals through OPay, Sterling Bank, and Globus Bank.

The minimum withdrawal amount is $10. While it has an average score of 3.3 on TrustPilot, Forex Peace Army has issued a scam alert about the broker.

FAQs

What is the minimum deposit to open an account with InstaForex NG?

InstaForex NG requires a minimum deposit of $5 to open a live trading account. Some account types suggest a $1 minimum, but $5 is generally required to start live trading.

What account types does InstaForex NG offer?

InstaForex NG provides four main account types: Insta.Standard, Insta.Eurica, Cent.Standard, and Cent.Eurica. Each caters to different trader needs, including standard and micro lot sizes, and fee structures ranging from spread-based to commission-based models.

Is InstaForex NG regulated by any financial authority in Nigeria?

No, InstaForex NG is not regulated by any African financial authority, including Nigeria’s SEC or the FSCA. Its global parent is licensed by CySEC and BVI FSC, but these do not extend to Nigeria-specific oversight.

Does InstaForex NG support Islamic trading accounts?

Yes, InstaForex NG offers Islamic (swap-free) accounts, making it suitable for traders who follow Sharia law by eliminating overnight interest fees.

What trading platforms are available through InstaForex NG?

Clients can trade using MetaTrader 4 (MT4), MetaTrader 5 (MT5), the proprietary InstaTrade mobile app, and Web Trader, offering flexibility for both beginners and professional traders.

What is the maximum leverage offered by InstaForex NG?

InstaForex NG provides up to 1:1000 leverage across all its account types, allowing traders to significantly amplify their market exposure. However, such high leverage increases the risk of rapid losses.

Which instruments can I trade with InstaForex NG?

Traders can access 400+ instruments across six asset classes, including Forex, stocks, indices, commodities, cryptocurrencies, and CFDs on futures.

What deposit and withdrawal methods are supported?

Deposits can be made via Opay, local banks (Sterling, Globus, GTBank), Visa/MasterCard, and other local options. Withdrawals are limited to bank transfers only, with a minimum amount of $10.

Does InstaForex NG offer any welcome bonuses?

Yes, InstaForex NG offers a 30% and 55% deposit bonus, and a $70 welcome bonus upon completing their Forex training program.

What are the typical spreads and commissions on InstaForex NG?

Spreads start from 0.0 pips on commission-based accounts (Eurica types), and from 3–7 pips on commission-free accounts. Commissions range from 0.03% to 0.07% per trade.

Can Nigerian traders use Naira for deposits?

Yes, InstaForex NG supports Naira-based deposits and withdrawals, simplifying funding for Nigerian traders through local banks and payment gateways.

What is ForexCopy and how does it work on InstaForex NG?

Forex Copy allows users to automatically copy trades from successful traders. It requires a minimum deposit of $10, and users can view performance stats before subscribing.

0Comment