Instaforex is an international online trading broker, created in 2007 and has been thriving since then. Its well-established form and qualities have seen it bag several prestigious awards in the forex industry. Being among the largest trading brokers online allows trading of over 300 instruments, thereby attracting many people to its platform.
Examples include forex, stocks, indices, metals, oil, and gas. InstaForex offers several trading accounts with tools to benefit you during trading. Whichever account you choose gives you access to the trading platform plus all tools offered on the broker website. We expound on the types of InstaForex accounts down below.
Type of InstaForex Accounts
There are four types of accounts created on InstaForex with varying commissions and spreads. They are designed to meet the needs of the customers and assist in making profitable trades.
1. Insta.Standard Account
The account is open to all traders interested in the forex market, whether beginner or professional. The only way to access the trading platform is by opening a trading account. If you choose to go for this type, you will reach the forex space and standard conditions. However, you can trade any instrument in the market offered by the broker.
This account allows commission-free trading with payable fixed spread free. The advantage of the fixed spread is you can tell the amount of money required every time you open a trade. The leverage ratio is flexible, and the client can change their investment and use a favorable deposit size. The currencies used are USD, and EUR and trade execution is instant.
2. Insta.Eurica Account
It is ideal for beginners to help learn about the market since its user friendly and straightforward. The elite can also use it based on what they want to achieve. The zero spreads have affected the price causing the BID price always to equal the ASK price. The spread fee absence leads to the provision of a commission fee of between 0.03 to 0.07 percent. The account’s base currencies are EUR and USD, and the maximum volume of trade is 10000 lots. The trades are executed instantly, making them efficient and reliable.
3. Cent.Standard Trading Account
If you are starting forex trading, check out this account to enhance your trading experience. You can also experience trading in the real environment with a minimum initial deposit of one dollar and a maximum deposit of 1000 dollars. Some features of this account include the presence of spreads ranging between 3 to 7 pips and a trading volume of 10000 lots maximum. It offers zero commission charges on trades, and their execution is fast enough, creating room to proceed with the next trade. EUR and USD are the base currencies for this account.
4. Cent.Eurica Trading Account
This account is quite similar to the previous one but with a few different qualities. Its also great for beginners, exposing them to the live trading environment to grow skills to apply in trading. It has zero spreads, i.e., 0.0 pips, and a commission fee of 0.03 to 0.7 percent. Traders using this account can access the smallest deal size of 0.0001 lots. As a professional trader, it’s advisable to open a standard account to avoid deal size limitations.
Multiple account options ensure the clients are not limited to one specific account that doesn’t satisfy their needs. They cater to all types of traders based on what they want to achieve. Identify all the accounts available, and choose the one that suits you best before you start trading.