FAQ about InstaSpot

FAQ about InstaSpot

You may have some questions about spot trading with InstaSpot. That is why we created this section with the most frequently asked questions about online trading with InstaSpot.
  • What is a spot market?
    It is an asset-backed market. In other words, a trade on a spot market implies actual delivery of an asset to a buyer.
  • What is the difference between a spot trade and a CFD trade?
    The main difference here is the actual exchange of an asset between the parties. Unlike CFD trading, spot trading requires real asset delivery/receiving of funds for possessing an underlying asset.
  • What types of orders are available for spot contracts?
    Market and Limit order types are available. A market order implies an immediate execution at the current market price. A limit order allows you to set the price at which you are willing to close a trade.
  • Is it necessary to open a new account for spot trading?
    You can use either your current account or register a new one. However, this service is not available for PAMM accounts, and spot trades will not be copied within the ForexCopy system.
  • How is spot trading carried out on your platform?
    Orders are placed through a trading platform. When a trade is opened on the platform, you will be redirected to your Client Area where you can track the status of the trade or its settlement. The features of the Client Area enable you to send the confirmation of a transaction to the seller or cancel it. It also allows you to dispute the results of the trade or the failure to fulfill obligations by one of the parties.
  • What is InstaSpot balance?
    InstaSpot balance is a balance on InstaSpot trading account nominated in the account currency. To open a trade with a base currency (for example, InstaSpot UAH v Qiwi RUB in any direction), you need a trading account to be nominated in this InstaSpot currency, that is, UAH in our example. Of course, the account balance must be enough for opening a trade (110% or 10% of the amount depending on the type of the trade).
  • Can I use bonuses for spot trading?
    You cannot use bonuses for InstaSpot trades. A withdrawal of a collateral amount for opening a trade will lead to the cancellation of a bonus as if it were a regular withdrawal.
  • What is transaction settlement?
    Transaction settlement means sending funds through a bank, for example, and receiving confirmation from the recipient. After the confirmation is received, an asset is credited to the buyer’s InstaSpot balance.
  • Is it necessary to confirm the receipt of funds to complete a transaction?
    Yes, the seller must confirm the receipt of funds to his/her account by clicking a designated button in the Client Area.
  • Will there be any penalties for the failure to comply with obligations?
    Yes, the Company reserves the right to impose a 2% penalty if one of the parties fails to meet its obligations.
  • What is the difference between spot and margin trading?
    Margin trading implies the use of leverage. On the one hand, leverage can multiply potential losses. But on the other hand, it increases your chances of getting a higher profit.

    In spot trading, you buy an asset using only your own funds, that is, without borrowing money. This means that a trader can use only the amount of money he/she actually has. In addition, the amount should be paid immediately and in full.
  • What is the execution time of a trade/delivery of an asset?
    The spot market is characterized by an instant delivery of an asset or delivery in the shortest possible time. It depends on the payment method. If you pay through a bank, the procedure may take up to 3 days. Delivery through an electronic payment system is much faster.
  • Is the rebate program available for trading with InstaSpot?
    No, the rebate program is not available for InstaSpot accounts.
  • What is a dispute?
    A dispute is a claim regarding the execution of a spot trade. One party has the right to request the company’s manager to manually check whether the other party has fulfilled its obligations.
  • Are stop loss orders available for spot trading?
    Stop loss orders are not typically used in spot trading.
  • Can I test spot trading on a demo account?
    The InstaSpot system is available only for live accounts.
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