Insta Markets – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Insta Markets - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2022
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://insta-markets.com
Founded: 2022
Regulations: No Regulation
Languages: English
Deposit Methods: Credit Card, Debit Card, Wire Transfer, Ethereum, Bitcoin
Minimum Deposit: Not Mentioned
Free Demo Account: No
Number of Assets: N/A
Types of Assets: Forex Pairs, Indices, Metals, Cryptocurrencies, Commodities
Trading Accounts and Conditions
Insta Markets does not provide any clear information about the types of trading accounts they have or what trading conditions they offer. The broker mentions that they offer tight spreads at about 1.2 pips for the EURUSD pair and no commissions.
Beyond this snippet of information, there is nothing. We do not know what the minimum deposit amount requirement is. We do not know what the real spreads are, what leverage ratios are being offered, the fees or even what the order execution methods are.
Insta Markets – Advantages
There are no advantages to trading with Insta Markets.
Insta Markets – Disadvantages
Listed below are all the red flags that tell us that Insta Markets is a scammer:
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Unregulated and Blacklisted Firm
Insta Markets goes out of their way to advertise the fact that they are an award-winning brokerage based in the United Kingdom.
On their website’s homepage, this broker claims that their parent company is called INSTANT TRADING LIMITED, a firm that is based in North Yorkshire in the UK.
The broker also claims to be regulated by the FCA (Financial Conduct Authority), the UK regulator, and states that their registration number is 728735. Now, this all sounds completely believable – until you actually verify Insta Markets’ claims.
That registration number that Insta Markets has provided is actually fake. This broker – and their parent company – are not registered with the FCA. In fact, the FCA has blacklisted this broker.
According to the public warning issued by the FCA, Insta Markets is not authorized to operate in the UK at all. The regulator goes on to state that if traders in the UK do business with Insta Markets, then they will not be covered by the Financial Services Compensation Scheme (FSCS), the protection plan offered by the FCA to prevent traders from losing their money to scammers. Traders who deal with scammers like Insta Markets will also not be able to reach out to the Financial Ombudsman for help in retrieving their funds in the event that they are scammed by this broker.
All of this information clearly tells us that Insta Markets is not only unregulated, but they have also been marked as a scammer by one of the most respected financial authorities in the world.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Sloppy Legal Documents
Unlike the majority of scammers who don’t bother with legal documents, Insta Markets has at least made the effort to insert some legal documents – as a cosmetic coverup of legitimacy.
The truth of the matter is that the legal documents presented by this broker are vague and incomplete. Legal documents are supposed to extremely detailed, providing information of every aspect of the contract between you and them. These documents will tell you what kind of trading conditions you can expect, the cost of using the broker’s services, the policies the broker has put in place to ensure there is fair trading taking place and so on.
The documents that Insta Markets has presented contain none of these details, which means that their legal documents are only for show – to fool clients into thinking that they actually have a legal contract in place.
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Possibly No Trading Platform
Insta Markets claims on their website that they offer their clients the use of the MetaTrader 4 trading software. This is one of the top trading platforms in the world, while a massive number of traders – and brokers – using this software. The MT4 platform is user-friendly, so much so that even novice traders will not have a problem using this software. Furthermore, pro traders will enjoy the vast range of tools offered for advanced trading. Added to all of this is the massive marketplace where traders get access to thousands of 3rd party apps – all related to trading.
So, if Insta Markets was really offering this software, it would have been a huge advantage for the broker.
Sadly, this broker has also lied about this claim too. There is a download button for the MT4 software. However, the files that are needed to run this app are incomplete – there is no installation file. This means that even though this broker offers their clients the MT4 platform, it isn’t really available at all.
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Issues with Trading Conditions
This broker’s claims of great trading conditions are also lies. The only piece of information we get from their website is that the spreads start at 1.2 pips for the EURUSD forex pair. Considering the fact that the market average for spreads on forex range from 0.5 pips to 1.5 pips, the spreads offered by this broker aren’t really all that competitive. We also need to point out that since we do not have access to their trading platform, there is no way to confirm the truth of these claims.
That is not the only issue. There are no other trading conditions provided. We do not know what the minimum deposit is, what leverage ratios are or even the commissions and fees charged.
This lack of transparency is typical of scammers.
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Lies About Funding Methods
More lies continue with the funding methods offered by Insta Markets. This broker claims to offer a wide range of payment options: Bank Transfers, Debit Cards, Credit Cards, PayPal, Neteller, Skrill, and UnionPay.
However, when we checked the payment portal, we found out that there were only a few limited funding options: Credit/Debit Cards, Wire Transfers or Cryptocurrencies (Bitcoin and Ethereum).
These lies simply highlight the fact that we are dealing with a scammer.
Conclusion
Insta Markets is another scammer and doing business with them would be dangerous.
Insta Markets
Pros
- None
Cons
- Unregulated and Blacklisted Firm
- Sloppy Legal Documents
- Possibly No Trading Platform
- Issues with Trading Conditions
- Lies About Funding Methods
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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