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.
Welcome gifts of up to 55% and a Forex training course are some of the company’s attractive offerings.
InstaForex NG, A broker with 17+ years of experience
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 CEO
While the broker's official website introduces Matthew Andrade as the CEO of InstaForex NG, there are no online profiles for this person, according to our investigation.
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 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)
- MT4 Android
- MT4 iOS
- Desktop
- Web
MetaTrader 5 (MT5)
- MT5 Android
- Mt5 iOS
- Desktop
- Web
InstaTrade
- InstaTrade Android
- iOS (Not available on the Apple App Store)
TradingFinder has developed a wide range of MT4 and MT5 indicators that you can use for free.
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% |
InstaForex NG Swap Fees
Rollover fees are charged on leveraged positions held overnight. Triple-swap applies to over-the-weekend positions.
We attempted to check trading instrument specifications on the InstaForex NG website, but it redirected us to the broker's global website. Here are some example swap rates:
| Instrument | Swap Long | Swap Short |
EURUSD | -0.94 | 0.12 |
AUDUSD | -0.49 | -0.05 |
EURJPY | 0.54 | -2.58 |
EURGBP | -0.69 | -0.04 |
Bitcoin | -0.05% | -0.05% |
Spot Gold | -109 | 0.69 |
InstaForex NG Non-Trading Fees
Dormant trading accounts are subject to a €5 monthly inactivity fee once no activity is detected for three consecutive months.
The charge applies to accounts with positive balances inactive for three months, billed automatically on the 1st of each month until the balance is fully depleted.
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 Methods
InstaForex Nigeria enables deposits in Naira with a minimum of $5, funded at ₦1,620 per $1 as of 16 August 2025 (or ₦1,560 per $1 for discounted account openings).
Multiple secure options are available, and customer support is reachable at 0802-243-3385 for assistance.
Payment Method | Processing Time | Fee | Notes |
Visa / MasterCard | Instant – 24 hrs | Varies | Supports global card deposits |
Verve Card | Instant | Varies | Local Nigerian debit card support |
Bank Transfer (Sterling, GTBank, Globus, Pay) | 1–24 hrs | Bank fee | Pay directly to FX Insta Africa accounts |
Online Banking | Instant – Few hrs | Low/Bank fee | Convenient for direct online deposits |
Mobile Money (M-Commerce) | Instant | Low | Quick deposits via mobile wallets |
ATM Transfer | Few minutes – 1 hr | Bank fee | Deposit using local ATMs |
Mobile Transfer | Few minutes – 1 hr | Bank fee | Simple transfers using mobile banking apps |
Internet Transfer | Instant – 24 hrs | Bank fee | Direct online bank-to-bank transfer |
Cash Deposits | Same day | Bank fee | Over-the-counter deposits at partnered banks |
InstaForex NG Withdrawals
InstaForex clients in Nigeria can withdraw funds in Naira directly from their trading accounts. The only accepted withdrawal method is bank transfer, ensuring a secure and straightforward process.
At the time, withdrawals are processed at the exchange rate of $1 = ₦1,460, with a minimum withdrawal requirement of $10.
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:
InstaForex NG 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
InstaForex NG 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
What Markets Does InstaForex NG Support?
The broker provides access to400+ trading instruments across 6 asset classes, including the Forex market, Stocks, Futures contracts, Indices, and Cryptocurrencies.
Category | Type of Instruments | Number of Symbols | Competitor Average | Max Leverage |
Forex | CFDs | 107 | 50 - 70 currency pairs | 1:1000 |
Indices | CFDs | 15 | 10 - 20 instruments | 1:100 |
Stocks | CFDs | 83 US Shares | 800 - 1200 | 1:20 |
Commodities | CFDs | 21 instruments | 15 - 30 instruments | 1:500 |
Cryptocurrencies | CFDs | 14 instruments | 20 - 30 instruments | 1:25 |
Futures | CFDs | 50 contracts | N/A | 1:100 |
This wide range of trading instruments enables traders to diversify their portfolio and utilize various trading 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
InstaForex NG Awards
While the branch in Nigeria hasn't received any separate awards, the global group of companies has been awarded multiple times over the course of almost two decades. Here's a list of InstaForex awards in recent years:
- 2025: Most Innovative Mobile Trading Application (Forex Traders Summit Dubai), Forex Broker of the Year (Money Expo Abu Dhabi)
- 2024: Top 100 Trusted Financial Institutions, Best Mobile App (Forex Traders Summit Dubai), Best Broker in Asia (ShowFx World)
- 2023: Most Popular Forex Broker (Smart Vision Investment Expo Egypt), Best Forex Broker (Forex Traders Summit Dubai)
- 2022: Best Broker in Latin America (International Business Magazine), Best Affiliate Program (Global Brands Magazine), Best Forex Broker (International Investor Awards)
How to Reach Customer Support?
The broker boasts 24/5 support through multiple channels, from Hotlines to WhatsApp chat.
support@instaforex.com.ng | |
Tel | +234 813 345 0038 (WhatsApp Call) |
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.
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.
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
- Fundamental and technical analysis
You can also check TradingFinder's Forex education and Crypto tutorial sections for additional learning materials.
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 Broker | LiteForex Broker | Exness Broker |
Regulation | None | ASIC, FSC, DFSA, CySEC | CySEC | FSA, CySEC, FCA, FSCA, CBCS, FSC, CMA |
Minimum Spread | 0.0 Pips | From 0.6 Pips | 0.0 Pips | 0.0 Pips |
Commission | From $0 | None Except On Shares Account No Withdrawal & Deposit Commissions | From Zero | From $0.2 to USD 3.5 |
Minimum Deposit | $5 | $5 | $50 | $10 |
Maximum Leverage | 1:1000 | 1:1000 | 1:30 | Unlimited |
Trading Platforms | MT4, MT5, WebTrader, InstaTrade, Multiterminal | MT4, MT5, Mobile App | MetaTrader 4, MetaTrader 5, Mobile Proprietary App | Exness Trade (mobile), Exness Terminal (web), MT4, MT5 |
Account Types | Insta.Standard, Insta.Eurica, Cent.Standard, Cent.Eurica | Micro, Standard, Ultra Low, Shares | Classic, ECN, Demo | Standard, Standard Cent, Pro, Raw Spread, Zero |
Islamic Account | Yes | Yes | No | Yes |
Number of Tradable Assets | 400+ | 1400+ | N/A | 200+ |
Trade Execution | Instant | Market, Instant | Market | Market, 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.