Alfa Forex
instaforex
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Overview
Alfa Forex was founded in 2011 and is headquartered in Cyprus, while instaforex was established in 2017 and is based in Russia. Alfa Forex holds licences including Securities and Exchange Commission (SEC), while instaforex is regulated by BVI FSC among others. Alfa Forex serves 10,000+ clients worldwide; instaforex has 12,000,000+. The minimum deposit is $0 at Alfa Forex and $250 at instaforex.
| Feature | Alfa Forex | instaforex |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | BVI FSC, License Number SIBA/L/14/1082. FSC Saint Vincent, Reg. Number IBC22945. Saint Vincent, IBC24321 |
| Founded | 2011 | 2017 |
| Country | Cyprus | Russia |
| Clients | 10,000+ | 12,000,000+ |
Fees
Fees are a critical factor when choosing between Alfa Forex and instaforex, directly affecting your bottom line as a trader. Alfa Forex has a lower barrier to entry with a minimum deposit of $0 (vs $250 at instaforex). Alfa Forex charges withdrawal fees while instaforex does not, a notable advantage for frequent withdrawers. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. Overall, Alfa Forex scores higher on fees in our assessment.
| Feature | Alfa Forex | instaforex |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Alfa Forex offers MT4, MT5, cTrader, while instaforex supports MT4, MT5, cTrader, a proprietary platform. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. instaforex edges ahead on platform breadth and functionality in our scoring.
| Feature | Alfa Forex | instaforex |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4 | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Alfa Forex and instaforex compare. instaforex runs regular live webinars; Alfa Forex does not. Both provide video tutorials. instaforex publishes daily market commentary; Alfa Forex does not. Both integrate third-party research tools. instaforex maintains an archive of past webinars for on-demand viewing. instaforex scores higher overall in education and research.
| Feature | Alfa Forex | instaforex |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Alfa Forex accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while instaforex supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). instaforex uniquely supports PayPal and Skrill and Neteller among the two brokers. instaforex scores higher on deposit and withdrawal flexibility.
| Feature | Alfa Forex | instaforex |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Alfa Forex and instaforex offer live chat support. Both provide phone support. Email support is available at both brokers. Alfa Forex supports 2 languages and instaforex supports 8, giving instaforex broader global reach. Both brokers are comparable on support quality.
| Feature | Alfa Forex | instaforex |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |