instaforex
sogotrade
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Overview
instaforex was founded in 2017 and is headquartered in Russia, while sogotrade was established in 2016 and is based in USA. instaforex holds licences including BVI FSC, while sogotrade is regulated by Financial Conduct Authority (FCA) among others. instaforex serves 12,000,000+ clients worldwide; sogotrade has 1,000,000+. Both brokers share the same minimum deposit of $250.
| Feature | instaforex | sogotrade |
|---|---|---|
| Min. Deposit | $250 | $250 |
| Regulation | BVI FSC, License Number SIBA/L/14/1082. FSC Saint Vincent, Reg. Number IBC22945. Saint Vincent, IBC24321 | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F307 |
| Founded | 2017 | 2016 |
| Country | Russia | USA |
| Clients | 12,000,000+ | 1,000,000+ |
Fees
Fees are a critical factor when choosing between instaforex and sogotrade, directly affecting your bottom line as a trader. Both require a minimum deposit of $250. sogotrade charges withdrawal fees while instaforex does not, giving instaforex an edge for frequent withdrawers. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. The two brokers are broadly comparable on fee structure.
| Feature | instaforex | sogotrade |
|---|---|---|
| Min. Deposit | $250 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
instaforex offers MT4, MT5, cTrader, a proprietary platform, while sogotrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. instaforex supports social and copy trading features, which sogotrade does not offer. instaforex edges ahead on platform breadth and functionality in our scoring.
| Feature | instaforex | sogotrade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | 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 instaforex and sogotrade compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. instaforex scores higher overall in education and research.
| Feature | instaforex | sogotrade |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. instaforex accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while sogotrade supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). Both brokers support the same set of payment methods.
| Feature | instaforex | sogotrade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | Yes | Yes |
| Neteller | Yes | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both instaforex and sogotrade offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 8 languages. Both brokers are comparable on support quality.
| Feature | instaforex | sogotrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |