InstaForex Review – Trading With InstaForex

Here is InstaForex review. I have not heard of them before until I came across InstaForex at one of their ShowFX Asia exhibition several years ago.

They offered a no deposit bonus of US$50 to anyone who signs up for an account at the show and I took up the offer. That’s how I started with InstaForex.

General Info About InstaForex

InstaForex was founded in 2007, offering Forex, stocks, futures and indexes for traders. They claim to have more than 2 million clients with more than 1000 new accounts being opened everyday.

Visit their website and you will find a very comprehensive and impressive site with lots of features and information for beginners to professionals.

Bonuses, trading competition, Forex copy systems, PAMM, Free VPS, all kinds of deposits and withdrawal methods and even offering local transfer and too many others for me to mention here. It’s best you find out for yourself what they have to offer.

However, despite all the info,  there is one thing that I cannot find much on their site is their license and regulation. I may be suffering from information overload with tons available there and may have miss it so if you do find it, please let me know.

Check Out InstaForex Today.

InstaForex Trading Account Type

InstaForex offer different account type, mainly commissionable or spread based and a cent.standard (some call it nano) account for beginner traders and those who are just starting to learn how to trade.

This is a good feature in my opinion because it allow new traders to practise or test strategies with minimal risk in a live account rather than using demo account where for some traders, they will never make the switch over from demo to live.

Trading with InstaForex

Spread and commission is not the lowest in the market but I have to say that I love fix spread where they won’t open up even during critical news release. And as far as trading with InstaForex is concerned, I have never seen their spread open up during critical news release while I was trading with them.

A fixed-spread account is good for news and algorithmic traders and those trading with a fix strategy because you know well in advance what the spread is.

Trading execution was good and didn’t encounter any problems until I tried to make a withdrawal. I wanted to know the ease of withdrawal and tried to do that with my profit minus my no deposit bonus.

That’s when bells and whistles started sounding. They threw their books at me and said my trades violated 3.14.6 and 5.12 of their client agreement. Don’t get me wrong, I have no problems with trading T&C’s if it was implemented after my trades have been executed or soon after and make my trades invalid.

The problem is, it’s only made known to me only after I tried to make a withdrawal of my profits and they couldn’t point out which of my trades are in violation and just made a general statement.

Will I Continue Trading With InstaForex?

It was a good learning experience for me and luckily, it’s profit from a free no deposit bonus. Not much loss except for the amount of time I spent testing and trading. I have learned to be more careful after that and pay more attention not only to InstaForex but also other brokers T&C’s before I open accounts with them.

I still have other trading accounts with free bonus from InstaForex but they are not being used because their ambiguous trading T&C’s is at the back of my mind all these time. Having said that, I still like my trading experience with them because of their trade execution and steady spread even during news release.

As I have always said, no brokers are created equal and what doesn’t suit me may not necessarily mean it’s not going to suit you. As far as I know, they are a very popular broker in some parts of Asia and I do know of many traders personally who have accounts with InstaForex and trading without any problems.

Hope you find my InstaForex review helpful. Good luck and safe trade.

Check Out InstaForex Today.

InstaForex

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Is FXPrimus A Good Broker?

Here is my FXPrimus review. Is FXPrimus a good broker? This is the very first broker that I signed up with and use when I started trading. I have had tested different type of live accounts with this broker and here is my frank opinion of their performance.

Brief summary about FXPrimus.
Founded in 2009, registered in Mauritius and have recently moved its headquarters in 2015 to Cyprus because of some compliance issues with existing rules and regulations.
Offering Leverage of 1:500, minimum deposit at US$100, with 3rd party managed segregated funds and negative balance protection.

Follow this link if you are looking for more info about FXPrimus.

Type of Accounts with FXPrimus

I have been trading on/off with them since 2011 using different type of account.

Variable and ECN didn’t meet my expectations to suit my trading style so I dumped them. Commission chargeable is US$10 per standard lot traded for ECN which I find is relatively high and it doesn’t work well with a certain trading strategy of mine.

Moving over to fix spread (this is no longer offered on FXPrimus at this point of writing). I love to trade news release and it’s not easy to find brokers that allow me to do that without spread opening or freezing frequently. I use fix spread for news trading and FXPrimus is one of the few brokers where I don’t see spread opening up before and during critical news release.

It worked well for a while but then it started to behave funny. Many of my trades start hitting my SL recently (starting July 2015) when the bid/ask price have not reach my SL (by watching video after trade is over) in my MT4 terminal during the news release.

Out of habit, I normally take videos of all my news trade because spread can open up where our eyes couldn’t catch. Through videos, we can slow it down and also go frame by frame to see how much spread actually open up after everything is over.

Checking with FXPrimus support about my trades but I was not convinced with the answers I received and the results of my trades.

So Is FXPrimus A Good Broker?

I have decided that FXPrimus is not the broker for me after these many years of trading with them because what they offer doesn’t match my trading style. I decided to let my trading partner take over my trading account and continue trading with them since he doesn’t have any problems trading with them using his strategies.

Again, I must Emphasize that what doesn’t work for me Doesn’t Mean that FXPrimus is not going to work for you. If you have been trading with them and everything is working well for you, by all means stay with them.

Follow this link if you are looking for more info about FXPrimus.

Hope the info you find here in my FXPrimus review is helpful to you. Good luck and safe trade!

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Pepperstone review – Is Pepperstone A Good Broker To Trade With

Is Pepperstone A Good Broker? Here is what I personally think of Pepperstone. I have 2 trading accounts with them where I use for personal trading and another for following traders on Zulutrade.

Brief Summary of Pepperstone

They are an execution-only forex and CFD broker, founded in 2010 and based in Melbourne Australia with an Australian Financial Services License (AFSL) and is regulated by the Australian Securities and Investment Commission (ASIC).
Client funds are segregated and held with Australian banks.

They offer various trading platform such as MT4, MT5, CTrader and web trading.
Social trading linked up with Zulutrade, Myfxbook, Signal Trader and MetaTrader 4 Signals.

Different account types are available to suit different individuals and deposit in different base currencies too.
Deposit currencies available are:
Australian Dollar (AUD), United States Dollar (USD), British Pound Sterling (GBP), Euro (EUR), Canadian Dollar (CAD), Japanese Yen (JPY), New Zealand Dollar (NZD), Swiss Franc (CHF), Singapore Dollar (SGD) and Hong Kong Dollar (HKD).

They have many angles covered too when it comes to depositing of funds. Credit card, debit card, Skrill, Neteller, Paypal, Wire transfer, Broker to broker and others.

There is no bonus offered for deposit and I have to agree that is a good policy. I have seen other brokers that offer bonus and then create unhappiness among clients who didn’t read the T&C’s of the bonus properly and claimed that they have been scammed.

They also have good customer support with multiple language capability.


=>Check Out Pepperstone Today<=

My Trading Experience With Pepperstone.

Started with demo trading with a standard account for a month and it worked out before I moved to live account. However, my live account trading results differ greatly with that of my demo trading the same strategy and it wasn’t unexpected because there are bound to be differences.

Anyway, I didn’t let that deter me and changed to a different trading strategy and it lead me to opening a second standard live account with them.

The second account is for the sole purpose of following traders on Zulutrade only and it has been doing well so far, in terms of orders execution and slippage. Profits and losses is a separate matter and should not taken be into consideration.

If you are looking for guidance on following signal provides on Zulutrade, please go to:
Tips For Finding The Best Signal Providers On Zulutrade
Is Following Traders On Zulutrade Risky?

Deposit and Withdrawal of Funds from my accounts have been a breeze so far with no problems encountered to date.

 

So Is Pepperstone A Good Broker To Trade With?

Well, in my opinion, Yes!

I will continue to use Pepperstone for my trades. I don’t have any problems so far and don’t see a reason to stop trading with them. Of course unless something happens (which I will definitely update here) that make me change my mind along the way but until that happens…

Hope my Pepperstone Review is helpful to you. Good luck and safe trade!

=>Check Out Pepperstone Today<=


 

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