Top 8 Locally Based Brokers
InstaForex Review
Overall, InstaForex is considered low-risk, with an overall Trust Score of 84% out of 100. InstaForex is licensed by one Tier-1 Regulator (high trust), one Tier-2 Regulator (average trust), and two Tier-3 Regulators (low trust). InstaForex offers four different retail trading accounts and a minimum deposit of $1 (116 KES). InstaForex is currently not regulated by the CMA of Kenya
- Louis Schoeman
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.8/5
Total Pairs
4
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
InstaForex Review – 21 key points quick overview:
- ✅ InstaForex Overview
- ✅ InstaForex At a Glance
- ✅ Regulation and Safety of Funds
- Account Types and Features
- Account Registration
- InstaForex Vs Exness Vs RoboForex – Broker Comparison
- Trading Platforms
- Range of Markets
- Broker Comparison for Range of Markets
- Trading and Non-Trading Fees
- Deposits and Withdrawals
- How to Deposit Funds with InstaForex
- InstaForex Fund Withdrawal Process
- Education and Research
- Bonuses and Promotions
- How to open an Affiliate Account with InstaForex
- InstaForex Affiliate Program Features
- InstaForex Corporate Social Responsibility
- Verdict on InstaForex
- InstaForex Pros and Cons
- FAQ
InstaForex Overview
👉 Overall, InstaForex is considered an average risk, with an overall Trust Score of 84 out of 100. InstaForex is licensed by one Tier-1 Regulator (high trust), one Tier-2 Regulator (average trust), and two Tier-3 Regulators (low trust). InstaForex offers four different retail trading accounts namely an Insta.Standard Trading Account, Insta.Eurica Trading Account, Cent.Standard Trading Account, and a Cent.Eurica Trading Account.
👉 InstaForex is a forex broker and trading platform that allows users to trade currencies on the worldwide global forex market along with several other markets.
👉 InstaForex provides customers with a true educational center that contains a wealth of information, including news updates, surveys, and special analytical evaluations.
👉 The broker offers forex and CFD trading across several financial instruments and asset classes in addition to providing PAMM trading and consultancy services. With a diverse selection of trading products, superior platform support, and competitive spread accounts, InstaForex caters to traders seeking predictable trading circumstances.
👉 InstaForex entered the financial services industry in 2007 and the brand has evolved and extended over the years to include several representative offices and locations across the globe, including the Czech Republic, Slovakia, and Poland.
👉 Additionally, the broker has made a concerted effort to increase brand awareness via collaborations with a variety of different sports teams and athletic personalities.
👉 This InstaForex review will provide traders with the details that they need to consider whether the broker is suited to their unique trading objectives and needs.
Distribution of Traders
👉 The distribution of traders with InstaForex is as follows:
➡️ Germany – 14.6%
➡️ Russian Federation – 14.5%
➡️ Nigeria – 7.6%
➡️ Ukraine – 5.7%
➡️ Pakistan – 5.2%
Popularity among traders who choose InstaForex
🥇 While InstaForex does not dominate the Kenyan CFD and forex market, the broker is one of the Top 50 options for beginner and professional Kenyan traders.
InstaForex At a Glance
| 🏛 Headquartered | The British Virgin Islands |
| ⚖️ Local Market Regulator in Kenya | Capital Markets Authority (CMA) |
| 💰 Foreign Direct Investment in Kenya | 1.3% of the overall GDP |
| 💸 Foreign Exchange Reserves in Kenya | 8.2 billion USD |
| 🏛 Local office in Nairobi? | No |
| ⚖️ Governor of SEC in Kenya | None |
| ✔️ Accepts Kenyan Traders? | Yes |
| 🗓 Year Founded | 2007 |
| 📞 Kenyan Office Contact Number | None |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram |
| ⚖️ Regulation | BVI FSC, CySEC, FSA SVG |
| 1️⃣ Tier-1 Licenses | • Financial Conduct Authority (FCA) |
| 2️⃣ Tier-2 Licenses | • Cyprus Securities and Exchange Commission (CySEC) |
| 3️⃣ Tier-3 Licenses | • Financial Services Commission (FSC) of the British Virgin Islands (BVI) • The Financial Services Authority (FSA) in St Vincent and the Grenadines |
| 🪪 License Number | • Cyprus – 266/15 • British Virgin Islands – SIBA/L/14/1082 • Saint Vincent and the Grenadines – 22945 and 24321 |
| ⚖️ CMA Regulation | None |
| ❌ Regional Restrictions | The United States |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 4 |
| ✔️ PAMM Accounts | Yes, MAM |
| 💧 Liquidity Providers | J.P. Morgan, UBS, Barclays, HSBC, Morgan Stanley & Citibank |
| 💰 Affiliate Program | Yes |
| 💻 Order Execution | Instant |
| 📊 Starting spread | 0.0 pips, Variable |
| 💰 Minimum Commission per Trade | From 0.03% |
| 💸 Decimal Pricing | Up to 5 digits after comma |
| 📞 Margin Call | 30% |
| 🛑 Stop-Out | 10% |
| 💰 Minimum Trade Size | 0.01 lots |
| 💵 Maximum Trade Size | 100 lots |
| ✔️ Crypto trading offered? | Yes |
| ✔️ Offers a KES Account? | No |
| 👥 Dedicated Kenyan Account Manager? | No |
| 📈 Maximum Leverage | Up to 1:1000 |
| 📋 Leverage Restrictions for Kenya? | No |
| 💰 Minimum Deposit (KES) | 110 KES or an equivalent to $1 |
| ✔️ Kenyan shilling Deposits Allowed? | Yes |
| 👥 Active Kenyan Trader Stats | 70,000+ |
| 🤝 Active Kenyan-based InstaForex customers | Unknown |
| 💰 Kenya Daily Forex Turnover | $100 million+ |
| 💵 Deposit and Withdrawal Options | • SAR Online Banking • Debit Card • Credit Card • Skrill • International Bank Transfers • Neteller • PayCo • Cryptocurrencies • Bank wire Transfer • Local Transfers |
| ⏰ Minimum Withdrawal Time | Instant |
| 🕙 Maximum Estimated Withdrawal Time | Up to 6 working days |
| ✔️ Instant Deposits and Instant Withdrawals? | Yes |
| 🏧 Segregated Accounts with Kenyan Banks? | No |
| 💻 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • WebIFX • InstaForex Multi-• Terminal • InstaForex • WebTrader • InstaTick Trader • InstaForex • MobileTrader |
| 💵 Tradable Assets | • Forex • Shares • Indices • Precious Metals • Energies • Commodity Futures • Cryptocurrencies • InstaFutures |
| ✔️ Offers USD/KES currency pair? | No |
| 📊 USD/KES Average Spread | N/A |
| ✔️ Offers Kenyan Stocks and CFDs | None |
| 🗣 Languages supported on the Website | English, French, Malay, Dutch, Italian, German, Simplified Chinese, Slovakian, Polish, Vietnamese, Portuguese, Spanish, Romanian, and more. |
| 📞 Customer Support Languages | Multilingual |
| ✔️ Copy Trading Support | Yes |
| ⏰ Customer Service Hours | 24/5 |
| 🧑💻 Kenyan-based customer support? | No |
| 💰 Bonuses and Promotions for Kenyans | Yes |
| 📚 Education for Kenyan beginners | Yes |
| ✔️ Proprietary trading software | Yes |
| 🥇 Most Successful Kenyan Trader | Patrick Mahinge (Net Worth – Private) |
| ✔️ Is InstaForex a safe broker for Kenyans? | Yes |
| 🥇 Rating for InstaForex Kenya | 8/10 |
| 🎖 Trust score for InstaForex Kenya | 84% |
| 👉 Open Account | 👉 Open Account |
Regulation and Safety of Funds
👉 InstaForex is an average trust broker that is regulated by the following market regulators:
➡️ In the United Kingdom, Instant Trading EU Ltd has temporary permission from the Financial Conduct Authority (FCA) to provide services in the EEA under reference number 728735.
➡️ In Cyprus, Insta Trading EU Ltd is a registered company that provides investment services, ancillary services, and cross border services to several member states. The broker also offers its services to several other countries outside the European Union. Insta Trading EU Ltd is well-regulated by the Cyprus Securities and Exchange Commission (CySEC) under 266/15.
➡️ In the British Virgin Islands Instant Trading Ltd is authorized, overseen, and well-regulated by the Financial Services Commission (FSC). InstaForex falls under the Investment Business Act (SIBA) in the British Virgin Islands under SIBA/L/14/1082.
➡️ In Saint Vincent and the Grenadines, InstaForex operates under Insta Global Ltd and Insta Service Ltd.
👉 International institutions including the International Monetary Fund (IMF) as well as the International Organization for Standardization (IOSCO) have established financial sector standards, and SIBA is responsible for ensuring that the BVI’s licensing structure adheres to these standards (International Organization of Securities Commissions).
👉 If you register an EU brand account, there are several limits, including maximum leverage of 1:30. The European Securities and Markets Authority (ESMA), a financial regulatory organization and European Supervisory Authority, is to blame.
👉 European Union financial markets are more transparent because of the Markets in Financial Instruments Directive (MiFID), which aims to unify the regulatory disclosures needed by certain markets.
👉 Due to tight laws, InstaForex does not accept customers from the United States and several developing nations.
Account Types and Features
👉 The four basic account types provided by InstaForex appeal to a broad variety of traders, regardless of their trading needs, objectives, styles, or experience levels, since each account type offers its own set of unique features and competitive trading conditions.
👉 The live account options that are offered to Kenyans are:
➡️ Insta.Standard Trading Account
➡️ Insta.Eurica Trading Account
➡️ Cent.Standard Trading Account
➡️ Cent.Eurica Trading Account
Live Trading Accounts
Insta.Standard Trading Account
👉 All the broker’s tradable financial products and standard trading conditions are available to Kenyan traders in this account type.
👉 This account abides by the regulations of the Forex market. Once a trader has access to all trading instruments, they pay a set spread. Standard accounts have no fees and may be used to settle trades using a typical spread.
👉 The most essential feature of this account is its adaptability, which enables traders to customize their trading strategy according to their own demands by adjusting their trading leverage and deposit amount at any moment.
| Account Feature | Value |
| 💵 Account Base Currencies | EUR and USD |
| 📉 Minimum Deposit | 110 Kenyan shilling equivalent to $1 |
| 📈 Maximum Deposit Amount | None |
| 📊 Average spreads | Between 3 to 7 pips |
| 💰 Commissions | None |
| 💸 Minimum Trade Size | 0.01 lots |
| ⬆️ Maximum Trade Volume | 10,000 lots |
| 📊 Leverage Ratios | Between 1:1 and up to 1:1000 |
| 🔒 Margin for Locks | 25% |
| 📞 Margin Call | 30% |
| 🛑 Stop-out | 10% |
| 🕹 Order Execution | Instant |
Insta.Eurica Trading Account
👉 This account type does not require the trader to pay a spread when they trade. The Eurica account type has zero margins, hence the BID and ASK prices are always the same.
👉 There are a few MetaTrader 4 platform technical oddities that cause the offered price to be higher than the BID price, therefore Kenyan traders should bear this in mind while placing orders. Kenyan traders don’t have to worry about the spread while using pending orders. If there is no spread, the order is executed immediately when it hits a certain price.
👉 In addition, Kenyans need not think about the spread’s impact on their position outcome before setting GTC orders and entering the market, leading to more efficient technical analysis.
👉 Along with introducing beginners to the market via an easier trading method, Insta.Eurica accounts may also be used by experienced traders due to their trade features being comparable to those of an Insta.Standard account.
| Account Feature | Value |
| 💵 Account Base Currencies | EUR and USD |
| 📉 Minimum Deposit | 110 Kenyan shilling equivalent to $1 |
| 📈 Maximum Deposit Amount | None |
| 📊 Average spreads | From 0.0 pips |
| 💰 Commissions | From 0.03% to 0.07% |
| 💸 Minimum Trade Size | 0.01 lots |
| ⬆️ Maximum Trade Volume | 10,000 lots |
| 📊 Leverage Ratios | Between 1:1 and up to 1:1000 |
| 🔒 Margin for Locks | 25% |
| 📞 Margin Call | 30% |
| 🛑 Stop-out | 10% |
| 🕹 Order Execution | Instant |
Cent.Standard Trading Account
👉 Kenyan traders who are new to trading can utilize this account type after familiarizing themselves with the features and advantages of the demo account. With a minimum trading volume of $0.01, the Cent.Standard Trading Account introduces traders to actual market conditions.
| Account Feature | Value |
| 💵 Account Base Currencies | EUR cents and USD cents |
| 📉 Minimum Deposit | 400 Kenyan shilling equivalent to $1 |
| 📈 Maximum Deposit Amount | None |
| 📊 Average spreads | Between 3 to 7 pips |
| 💰 Commissions | None |
| 💸 Minimum Trade Size | 0.01 lots |
| ⬆️ Maximum Trade Volume | 10,000 lots |
| 📊 Leverage Ratios | Between 1:1 and up to 1:1000 |
| 🔒 Margin for Locks | 25% |
| 📞 Margin Call | 30% |
| 🛑 Stop-out | 10% |
| 🕹 Order Execution | Instant |
Cent.Eurica Trading Account
👉 The Cent.Eurica Account is identical to the Standard Account, except that it is denominated in cents.
| Account Feature | Value |
| 💵 Account Base Currencies | EUR and USD |
| 📉 Minimum Deposit | 400 Kenyan shilling equivalent to $1 |
| 📈 Maximum Deposit Amount | None |
| 📊 Average spreads | 0.0 pips |
| 💰 Commissions | From 0.03% to 0.07% |
| 💸 Minimum Trade Size | 0.01 lots |
| ⬆️ Maximum Trade Volume | 10,000 lots |
| 📊 Leverage Ratios | Between 1:1 and up to 1:1000 |
| 🔒 Margin for Locks | 25% |
| 📞 Margin Call | 30% |
| 🛑 Stop-out | 10% |
| 🕹 Order Execution | Instant |
Demo Account
👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.
👉 There is a certain degree of risk involved when trading financial markets and InstaForex offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.
Islamic Account
👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
👉 InstaForex offers a choice of four live trading accounts to Kenyan Muslim clients who want to open an Islamic trading account. Muslims can trade in a broad variety of markets without paying a swap or overnight fee thanks to the Islamic Account offered by InstaForex.
👉 A swap-free or Islamic trading option is available from InstaForex, and the trading conditions of each account remain the same even after the account has been converted to an Islamic account.
👉 This has the advantage of neither raising fees nor boosting spreads for traders who change their accounts. To compensate for the absence of overnight fees, they are often imposed.
Account Registration
👉 The official InstaForex website has a simple account application for Kenyan traders to use. Traders are required to provide some personal details as well as financial data, such as the source of their money.
👉 To assess a trader’s degree of expertise and understanding, they must complete a trading questionnaire. An identification certificate and evidence of domicile must also be provided to Kenyan merchants.
👉 The information and documentation given will be reviewed by InstaForex and, if everything is in order, the account will be authorized, and Kenyan traders will be able to fund the account and begin trading.
InstaForex Vs Exness Vs RoboForex – Broker Comparison
| 🥇 InstaForex | 🥈 Exness | 🥉 HotForex | |
| ⚖️ Regulation | FCA, BVI FSC, CySEC, FSA SVG | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA | FSCA, CySEC, DFSA, FSA, FCA, FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, CMA, and other regions |
| 📱 Trading Platform | • MetaTrader 4 • MetaTrader 5 • WebIFX • InstaForex Multi-• Terminal • InstaForex • WebTrader • InstaTick Trader • InstaForex • MobileTrader | • MetaTrader 4 • MetaTrader 5 • Exness App • Exness Terminal | • MetaTrader 5 • MetaTrader 5 |
| 💸 Withdrawal Fee | Yes | No | No |
| 💻 Demo Account | Yes | Yes | Yes |
| 💵 Min Deposit | 110 KES | 1,100 KES | 580 KES |
| 📊 Leverage | 1:1000 | Unlimited | 1:1000 |
| 📊 Spread | 0.0 pips | Variable, from 0.0 pips | 0.0 pips |
| 💰 Commissions | 0.03% to 0.07% | From $0.1 per side, per lot | $3 to $4 |
| 🛑 Margin Call/Stop-Out | 30%/10% | 60%/0% | • 40%/10% • 50%/20% |
| 💵 Order Execution | Instant | Market | Market |
| 💰 No-Deposit Bonus | Yes | No | No |
| 💵 Cent Accounts | Yes | Yes | No |
| 💻 Account Types | • Insta.Standard Trading Account • Insta.Eurica Trading Account • Cent.Standard Trading Account • Cent.Eurica Trading Account | • Standard Account • Standard Cent Account • Raw Spread Account • Zero Account • Pro Account | • Micro Account • Premium Account • HFcopy Account • Zero Spread Account • Auto Account |
| ⚖️ CMA Regulation | No | No | Yes |
| 💸 KES Deposits | Yes | Yes | Yes |
| 💰 Kenyan shilling Account | No | Yes | No |
| 📞 Customer Service Hours | 24/5 | 24/7 | 24/5 |
| 🛍 Retail Investor Accounts | 4 | 5 | 5 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 💵 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 📈 Maximum Trade Size | 100 lots | Unlimited | 60 lots |
| ⏰ Minimum Withdrawal Time | Instant | Instant | 10 minutes |
| 💻 Maximum Estimated Withdrawal Time | Up to 6 working days | Up to 72 hours | Up to 10 days |
| 💵 Instant Deposits and Instant Withdrawals? | Yes | Yes | No |
Trading Platforms
👉 InstaForex offers a variety of trading platforms for customers to select from based on their own trading preferences and aims. InstaForex offers Kenyan traders a choice between these trading platforms:
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ WebIFX
➡️ InstaForex Multi-Terminal
➡️ InstaForex WebTrader
➡️ InstaTick Trader
➡️ InstaForex MobileTrader
Desktop Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ InstaForex Multi-Terminal
👉 With MT4 and MT5 and the InstaForex Multiterminal alongside interoperability with almost any device, the platform itself is among the most powerful presently available. InstaForex was one of the first brokers to make the MT5 platform available to its customers.
👉 However, InstaForex remains committed to the MT4 platform since it allows them to always track their accounts and provide alerts when certain events occur. The InstaForex MultiTerminal can be downloaded and installed on any computer that uses Windows OS.
WebTrader Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ WebIFX
➡️ InstaForex WebTrader
➡️ InstaTick Trader
MetaTrader 4
👉 With InstaForex MetaTrader4, traders may monitor financial instruments and study the markets in a variety of ways, including using the program’s built-in charting tools.
👉 A wide range of professional-level trading tools, including free VPS hosting, an option to trade utilizing EAs, scalping, or hedging, as well as solutions for Money Managers and APIs for PAMM accounts and APIs, are available.
👉 They offer many MT4 add-ons like magic buttons and one-click trading that can be used with the MT4. Placing, maintaining, and closing orders are all made easier with the help of the magic button. One-click trading is more efficient and enables you to use the same parameters for each trade.
MetaTrader 5
👉 MetaTrader 5 is the updated version of MetaTrader 4, and Kenyans can expect a wider range of features and functions when they trade with InstaForex using MT5. This includes built-in, customizable indicators, additional order types, expert advisors, market signals, one-click trading, and more.
👉 The fact that InstaForex makes use of MetaTrader’s aesthetic, infrastructure, and familiarity will be a huge plus for traders. Additional flexibility is provided through the Client Cabinet.
WebIFX
👉 InstaForex’s WebIFX platform is the only one of its kind. When it comes to running a web-based application, you do not need to download any extra software.
👉 Most browsers allow you to trade from any location with an internet connection. It is possible to open, manage, close, and analyse charts on WebIFX in the same way as on a standard desktop trading platform.
InstaForex WebTrader
👉 The WebTrader trading platform was developed by InstaForex and is solely accessible to the broker’s customers. Investors may trade immediately from their web browser without having to download and install any additional software.
👉 You may trade anywhere you want, whenever you want. All you will need is an Internet-connected computer or mobile device. WebTrader’s extensive toolbox and feature-rich trading environment are likely to please sophisticated customers.
InstaTick Trader
👉 InstaForex created its own trading platform, called InstaTick Trader. It is meant to be used for tick trading. Its primary selling point is the ability to provide quotations with six digits.
👉 Traders may utilize this function to increase their earnings since even little swings have a significant impact on profit forecasts. InstaTick Trader is a web-based trading platform that does not need traders to download any software.
Trading App
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ InstaForex MobileTrader
➡️ InstaForex Multi-Terminal
MetaTrader 4 and 5
👉 MetaTrader 4 and 5 are powerful trading platforms that offer Kenyan traders flexibility through mobile trading apps for iOS and Android. There are several features on the mobile apps reflected on the main apps for desktop and the web, giving traders the tools and support they need to trade financial instruments while they are on the move.
InstaForex MobileTrader
👉 As with MT4, MobileTrader has all the same functionality as the desktop and web versions of InstaForex’s proprietary trading software. Managing your trading account and trading FX are made simple with this app.
InstaForex Multi-Terminal
👉 With the MultiTerminal, traders may manage many accounts simultaneously. If you are in the business of managing other people’s money, this is a must-have tool for iOS and/or Android devices.
Range of Markets
👉 Kenyan traders can expect the following range of markets from InstaForex:
➡️ Forex
➡️ Shares
➡️ Indices
➡️ Precious Metals
➡️ Energies
➡️ Commodity Futures
➡️ Cryptocurrencies
➡️ InstaFutures
Broker Comparison for Range of Markets
| 🥇 InstaForex | 🥈 Exness | 🥉 HotForex | |
| ➡️ Forex | Yes | Yes | Yes |
| ➡️ Precious Metals | Yes | Yes | Yes |
| ➡️ ETFs | No | No | No |
| ➡️ CFDs | Yes | Yes | Yes |
| ➡️ Indices | Yes | Yes | Yes |
| ➡️ Stocks | Yes | Yes | Yes |
| ➡️ Cryptocurrency | Yes | No | Yes |
| ➡️ Options | No | No | No |
| ➡️ Energies | Yes | Yes | Yes |
| ➡️ Bonds | No | No | Yes |
Trading and Non-Trading Fees
Spreads
👉 The average spreads that traders should anticipate seeing are as follows:
➡️ Insta.Standard Trading Account – Spreads between 3 to 7 pips
➡️ Insta.Eurica Trading Account – Spreads from 0.0 pips
➡️ Cent.Standard Trading Account – Spreads between 3 to 7 pips
➡️ Cent.Eurica Trading Account – Spreads from 0.0 pips
Commissions
👉 InstaForex only charges commissions on the Eurica Accounts as follows:
➡️ Insta.Eurica Trading Account – From 0.03% to 0.07%
➡️ Cent.Eurica Trading Account – From 0.03% to 0.07%
Overnight Fees, Rollovers, or Swaps
👉 Overnight fees are charged when traders keep their positions open for longer than 24 hours. These fees are either debited or credited depending on the position that the trader took when they opened the trade, whether long or short.
👉 Overnight fees are determined by the interbank rate, the position size, the financial instrument being traded, and the duration that the position stays open. Typical overnight fees are as follows:
➡️ EUR/USD – with a long swap of -0.61 pips and a short swap of -0.08 pips
➡️ Shares – with a long swap of -7% and a short swap of -2%
➡️ Spot Silver – with a long swap of -2.71 pips and a short swap of -1.54 pips
➡️ Spot Gold – with a long swap of -21.81 pips and a short swap of -7.01
➡️ Cryptocurrencies – with a long swap of -0.05% and a short swap of -0.05%
Deposit and Withdrawal Fees
👉 Deposit fees are not charged by InstaForex, but the following withdrawal fees are charged:
➡️ Credit Card – System Fees
➡️ Debit Card – System Fees
➡️ Cryptocurrency (Bitcoin and Litecoin) – 0.5%
➡️ PayCo – System Fees
➡️ Skrill – Transaction fee of 1.39%
➡️ Southeast Asia Bank Transfers – Fees of 2% plus 0.3 EUR
➡️ Neteller – Transaction fee of 2%
➡️ AstroPay – Transaction fee of 0.5%
➡️ Philippines Online Banking – Fees of 1.75%
➡️ Africa Online Transfers – 3/3.5% plus 0.5 EUR
➡️ Other Crypto Payments – 1% fee
➡️ NEO – 1.6% Fees
➡️ Online Transfers of 6.5% along with a $0.5 Fee
Other Fees
👉 Currency conversion fees will apply if traders deposit funds in a currency other than the base account currency that they chose. The currency conversion fee is determined by the current market rate, which can be viewed in the Client Cabinet and on the official website of InstaForex.
Overall Rating
- 4.8/5
Min Deposit
USD 1 / 116 KES
Regulators
CySEC, FSC
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
4
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Deposits and Withdrawals
👉 InstaForex offers the following deposit and withdrawal methods:
➡️ SAR Online Banking
➡️ Debit Card
➡️ Credit Card
➡️ Skrill
➡️ Southeast Asia Bank Transfers
➡️ Asia United Bank
➡️ Banco de Oro
➡️ Bank of the Philippine Islands
➡️ Chinabank
➡️ Coins.ph
➡️ EastWest
➡️ EON by Unionbank
➡️ ePSBank Online
➡️ Landbank
➡️ Maybank
➡️ Metrobank
➡️ Philippine National Bank
➡️ RCBC
➡️ Robinsons Bank
➡️ Security Bank
➡️ UCPB
➡️ Unionbank
➡️ Neteller
➡️ PayCo
➡️ Payment Asia
➡️ Africa Online Transfers
➡️ Thai QR Payment
➡️ AstroPay
➡️ Cryptocurrencies
➡️ Local Indonesian Bank Transfer
➡️ Local China Bank Transfer
➡️ Local Indica Bank Transfer
➡️ Local Malaysian Bank Transfer
➡️ Local Nigerian Bank Transfer
➡️ Local Ghana Bank Transfer
➡️ Local Singapore Bank Transfer
➡️ Local Pakistan Bank Transfer
➡️ Local Korean Bank Transfer
➡️ Local Thailand Bank Transfer
➡️ Local Bangladesh Bank Transfer
➡️ Local UAE Bank Transfer
➡️ Local Bahrain Bank Transfer
➡️ Local Qatar Bank Transfer
➡️ Local Saudi Arabia Bank Transfer
➡️ Local Oman Bank Transfer
➡️ Local Philippines Bank Transfer
➡️ Local Kuwait Bank Transfer
| 💰 Payment Method | ⏰ Deposit Processing Time | 💵 Withdrawal Fee | 💸 Withdrawal Processing Time |
| SAR Online Banking | 24 hours | – | – |
| Debit Card | 24 hours | System Fee | 1 – 6 Days |
| Credit Card | 24 hours | System Fee | 1 – 6 Days |
| Skrill | 24 hours | 1.39% | 1 – 7 hours |
| Asia United Bank | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| Banco de Oro | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| Bank of the Philippine Islands | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| Chinabank | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| Coins.ph | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| EastWest | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| EON by Unionbank | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| ePSBank Online | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| Landbank | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| Maybank | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| Metrobank | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| Philippine National Bank | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| RCBC | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| Robinsons Bank | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| Security Bank | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| UCPB | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| Unionbank | Between 1 – 7 hours | 1.75% (5 EUR min) | 1 – 7 hours |
| Neteller | Instant | 2% | 1 – 7 hours |
| PayCo | Instant | System fee | 48 hours |
| Payment Asia | 3 hours | – | – |
| Africa Online Transfers | Between 1 – 7 hours | 3%/3.5% + 0.5 EUR | 1 – 7 hours |
| Thai QR Payment | 3 hours | – | – |
| AstroPay | 24 hours | 0.5% | 48 hours |
| Cryptocurrencies | 3 hours | 0.5% to 1.6% | 1 – 7 hours |
| Local Indonesian Bank Transfer | Between 1 – 2 hours | Bank Fees | 1 to 2 days |
| Local China Bank Transfer | 1 – 2 Days | Bank Fees | 1 to 2 days |
| Local Indica Bank Transfer | Between 1 – 8 hours | Bank Fees | 1 to 2 days |
| Local Malaysian Bank Transfer | 1 – 2 Days | Bank Fees | 1 to 2 days |
| Local Nigerian Bank Transfer | 1 – 2 Days | Bank Fees | 1 to 2 days |
| Local Ghana Bank Transfer | 1 – 2 Days | Bank Fees | 1 to 2 days |
| Local Singapore Bank Transfer | 1 – 2 Days | Bank Fees | 1 to 2 days |
| Local Pakistan Bank Transfer | 1 – 2 Days | Bank Fees | 1 to 2 days |
| Local Korean Bank Transfer | 1 – 2 Days | Bank Fees | 1 to 2 days |
| Local Thailand Bank Transfer | 1 – 2 Days | Bank Fees | 1 to 2 days |
| Local Bangladesh Bank Transfer | 1 – 2 Days | Bank Fees | 1 to 2 days |
| Local UAE Bank Transfer | 1 – 2 Days | Bank Fees | 1 to 2 days |
| Local Bahrain Bank Transfer | 1 – 2 Days | Bank Fees | 1 to 2 days |
| Local Qatar Bank Transfer | 1 – 2 Days | Bank Fees | 1 to 2 days |
| Local Saudi Arabia Bank Transfer | 1 – 2 Days | Bank Fees | 1 to 2 days |
| Local Oman Bank Transfer | 1 – 2 Days | Bank Fees | 1 to 2 days |
| Local Philippines Bank Transfer | 1 – 2 Days | 1.75% (5 EUR min) | 1 – 7 hours |
| Local Kuwait Bank Transfer | 1 – 2 Days | Bank Fees | 1 to 2 days |
Overall Rating
- 4.8/5
Min Deposit
USD 1 / 116 KES
Regulators
CySEC, FSC
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
4
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
How to Deposit Funds with InstaForex
👉 To deposit funds to an account with InstaForex, Kenyan traders can follow these steps:
➡️ Traders can sign into their Client Cabinet and select their preferred payment method
➡️ Next, the trader can enter the amount they wish to deposit, select the deposit currency, and submit their deposit request.
➡️ Depending on the payment method there may be additional steps to follow from the payment provider to confirm the deposit.
InstaForex Fund Withdrawal Process
👉 To withdraw funds from an account with InstaForex, Kenyan traders can follow these steps:
➡️ To withdraw funds, traders can log into their Client Cabinet and select the option to withdraw.
➡️ Traders can select the account which they want to withdraw funds from, choose their withdrawal method, enter the amount they wish to withdraw, and proceed by submitting the withdrawal request.
Education and Research
👉 InstaForex offers the following Educational Materials:
➡️ Demo Account
➡️ Training
➡️ Trading Platform Guidelines
➡️ FAQ Section
➡️ How to Start Trading
➡️ Video Tutorials
➡️ Forex Glossary
➡️ Knowledge Base
👉 InstaForex offers Kenyan traders the following Research and Trading Tools:
➡️ Chief Strategies
➡️ Analytical Reviews
➡️ Economic Calendar
➡️ Video Analytics
➡️ InstaForex TV
➡️ Trading Sessions
➡️ News in Pictures
➡️ ForexCopy System
➡️ PAMM System
Bonuses and Promotions
👉 InstaForex offers Kenyan traders the following bonuses and promotions:
➡️ 100% Deposit Bonus
➡️ 55% Deposit Bonus
➡️ 30% Deposit Bonus for recurring deposits
➡️ $1,000 Start-up No-deposit bonus
➡️ Ferrari from InstaForex
➡️ Lucky Trader
➡️ Chancy Deposit
➡️ Real Scalping
➡️ Great Race
➡️ FX-1 Rally
➡️ Ms InstaForex 2023
➡️ Free Devices
➡️ One Million Option
Overall Rating
- 4.8/5
Min Deposit
USD 1 / 116 KES
Regulators
CySEC, FSC
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
4
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
How to open an Affiliate Account with InstaForex
👉 To become a partner, just choose one of two modes of collaboration and register. Additionally, traders may become partners, which can generate extra revenue by disseminating information about the company’s services to acquaintances and friends.
👉 To become a partner with InstaForex, Kenyans can follow these easy steps:
➡️ Register for the affiliate program by visiting the InstaForex website, navigating to “For Partners” and “Register”
➡️ Complete the application and submit the application
➡️ Use the tools and resources offered by InstaForex to start attracting clients
➡️ As clients join InstaForex and execute trades, affiliates will be rewarded
InstaForex Affiliate Program Features
👉 Kenyans can choose between becoming an Online Partner or a Cost Per Action (CPA) Partner. Some of the affiliate program features that Kenyans can expect when they choose to partner with InstaForex are as follows:
➡️ High commissions between $10 to 13.3 per market lot traded by clients
➡️ Two-Tier affiliate program
➡️ Brand production
➡️ Personal Manager
➡️ Multilingual support
👉 In addition, when becoming an affiliate, Kenyans are given access to the following unique features and benefits:
➡️ Three authoring systems
➡️ Excellent trading conditions
➡️ A powerful range of bonuses and promotions
➡️ A wide range of payment systems
➡️ Regular contests with lucrative prizes
➡️ An automatic system
InstaForex Corporate Social Responsibility
👉 Bringing compassion to business is a core value of the InstaForex Company. InstaForex aspires to an ideal that encompasses both corporate ethics and panhuman moral norms and ideals.
👉 InstaForex’s social responsibility reflects how its team sees the work of a true contemporary organization that adheres to basic human standards even in the face of fierce rivalry and harsh competitiveness amongst market players.
👉 According to these ideas, social responsibility must be an indispensable component of every large-scale organization headed by individuals capable of empathy. For many years, an increasing number of charitable organizations and private people have partnered with InstaForex Company.
👉 InstaForex’s website is frequently updated to include more initiatives to represent the broker’s social responsibility philosophy. Some of the initiatives and charities that InstaForex supports include:
➡️ InstaForex and Peduli Anak Foundation provide medical support and protection from exploitation and poverty to millions of children around the world.
➡️ CPOC Foundation in Cambodia.
➡️ The Malaysian Red Crescent (MRC)
➡️ Wikimedia Foundation, Inc.
➡️ SOS Children’s Villages
➡️ Charity Fund “Happy World”
➡️ Mother and Child Health (FMCH) Foundation
➡️ Titian Foundation
➡️ AdVita Charitable Centre of Haematology, and many more.
Verdict on InstaForex
👉 InstaForex is a multi-award-winning online trading firm with a global customer base. InstaForex is an excellent online trading platform for Kenyans. If you are searching for a trading platform that provides a diverse range of trading choices, InstaForex is worth considering.
👉 Kenyans can trade via the subsidiary, Instant Trading Ltd (BVI), which is authorised by the BVI Financial Services Commission.
👉 In contrast to other authorities, such as ASIC in Australia and the FCA in the United Kingdom, the BVI FSC does not require InstaForex to limit leverage or to participate in a consumer compensation plan.
👉 Kenyan client funds money is separated in segregated accounts with top-tier institutions, and InstaForex’s finances and client activities are audited regularly, which further instils trust in this broker.
👉 While InstaForex is far from outstanding, it does have a solid reputation and all the necessary capabilities to make it feasible for a variety of different sorts of traders.
InstaForex Pros and Cons
| ✔️ Pros | ❌ Cons | |||
| The broker offers commission-free trading | There are restrictions on leverage for European Union clients | |||
| MetaTrader 4 and 5 are both offered, available across devices | US clients are not accepted | |||
| The broker is well-regulated and offers competitive trading conditions | ||||
| There is a choice between retail investor accounts, each suited to different types of traders | ||||
| There is a wide range of tradable assets offered |
FAQ
Is InstaForex a legit broker?
Yes, InstaForex is a reliable, average trust broker that has a 4.4/5 rating on Trust Pilot.
Is InstaForex good for beginners?
Yes, InstaForex is a good broker for beginners and offers a wide range of educational materials, a demo account, and dedicated customer support.
Does InstaForex have a no-deposit bonus for Kenyans?
Yes, InstaForex offers a no-deposit bonus to new traders who register a trading account.
Does InstaForex accept Kenyan traders?
Yes, InstaForex accepts traders from Kenya.
What is the overall rating for InstaForex?
We give InstaForex an overall rating of 8/10 based on its regulatory status, client fund security, range of markets and account types, educational materials and trading tools, range of trading platforms, and deposit and withdrawal options.
Conclusion
👉 Now it is your turn to participate:
➡️ Do you have any prior experience with Axi?
➡️ What was the determining factor in your decision to engage with Axi?
➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?
➡️ Have you experienced any issues with Axi such as difficulty withdrawing funds, inability to verify regulation, irresponsive customer support, etc.?
👉 Regardless, please share your thoughts in the comments below.
Addendum/Disclosure:
👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
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