InstaSpot trading servers
How does the currency conversion system for replenishment and withdrawal at InstaSpot differ from the systems that other forex brokers offer?
When you deposit funds in a currency other than the base currency of your account, the company uses the current market rate. The information on the current conversion rate is available both in Client Cabinet and on the InstaSpot website (the conversion rate equals the BID price).
When you withdraw funds in a currency other than the base currency of your account, the company uses the weighted average exchange rate. Determining the rate, the broker takes into account the current rates and the amount of deposits.
The InstaSpot weighted average exchange rate is more beneficial than systems of internal rates used by other forex brokers. Internal rates include huge internal spreads, whereby the replenishment is charged at one rate, and the withdrawal at another. The difference between withdrawal and replenishment rates can be up to 10%, which means that when you deposit RUB 10,000 to your account, you can lose RUB 1,000, even if the withdrawal is done on the same day.
Using the weighted average approach to determine rates gives a trader an opportunity to replenish RUB 10,000 and get back the same RUB 10,000 for the same amount of US dollars.
Example of calculating the weighted average exchange rate:
Initially, a client deposited RUB 10,000 to his dollar account at the rate of RUB 66.57 per USD 1. At the time of crediting this sum to an account, the amount equaled $150.22.
After a while, a client made one more replenishment of RUB 5,000 at the rate of RUB 63.81 per 1 USD. At the time of crediting this sum to an account, the amount equaled $78.36.
Sometime after that, a client decided to withdraw the earned profit of $300. The weighted average exchange rate is calculated according to the formula of the weighted arithmetic mean:
Thus, the available amount for withdrawal is RUB 19,695.
What payment options are available at InstaSpot?
You can top up your trading account via Qiwi, Skrill, Neteller, Yandex.Money, Visa cards, MasterCard cards, and bank transfers. You may also pay in cash in our offices. The same options are available for withdrawing money from your trading account.
Does the company charge any fees for depositing money to your account?
The company does not charge any fees for depositing money to your trading account. However, your transaction amount will be charged with a commission by a payment system or a bank which credits or debits your account.
How long does it take to top up a trading account?
Depositing via Neteller is instant, while it takes Qiwi about 15 minutes to perform it. Yandex.Money needs about 3 hours; Visa and MasterCard cards, up to 24 hours according to the chosen payment method. Topping up via Skrill also takes up to 24 hours. Depositing your account in cash in our offices takes 1-4 hours. A bank transfer lasts up to 4 days.
How long does it take to withdraw money from a trading account?
Withdrawal via QIWI, MoneyBookers/Skrill and other online payment system takes 1-7 hours. Taking money by bank transfer takes 2-4 days. Money can be withdrawn from your Visa card in 1-6 bank days.
What is the minimum withdrawal amount?
There are no limits to withdrawal. You can always request the withdrawal of any remaining amount on your trading account. The exception includes bank wire (minimum amount for withdrawal is 300$). For wallets, electronic payment systems and bank cards - minimum amount for withdrawal is 1 USD, including commission. Also please pay attention to the commission which a bank can charge for an operation: up to 30 US dollars.
What is the minimum deposit amount?
Minimum deposit is 1 US dollar.
What measures should I take in case I lost some information and became unable to use the same details for withdrawal as for deposit?
In order to change the details within one payment system you should fill in the F1 form and send the scanned copy of your ID to email@example.com.
Which IP addresses do InstaSpot Company’s trading servers have?
Clients of InstaSpot Company have a great opportunity to choose any out of 10 suggested trading servers to work with.
When registering a live trading account with InstaSpot, you get a chance to choose the server for your account. All available servers for the trading accounts opened with InstaSpot are listed below:
server in the USA with the address InstaSpot-USA.com or 22.214.171.124:443 can be used for trading account numbers from 10,000 to 700,000 and 15,000,000 - 17,999,999;
server in the USA with the address InstaSpot-USA2.com or 126.96.36.199:443 can be used for trading account numbers starting from 8,000,000 to 9,000,000 and 80,000,000 - 82,999,999;
server in Singapore with the address InstaSpot-Singapore.com or 188.8.131.52:443 can be used for trading account numbers starting from 7,000,000 to 8,000,000 and 70,000,000 - 72,999,999;
server in Netherlands with the address InstaSpot-Europe.com or 184.108.40.206:443 can be used for trading account numbers starting from 5,000,000 to 6,000,000 and 50,000,000 - 52,999,999;
server in Hong Kong with the address InstaSpot-HongKong.com or 220.127.116.11:443 can be used for trading account numbers from 1,000,000 to 2,000,000 and 10,000,000 - 12,999,999;
server in Great Britain with the address InstaSpot-UK.com or 18.104.22.168:443 can be used for trading account numbers from 2,000,000 to 3,000,000 and 20,000,000 - 22,999,999;
server for cent accounts with the address InstaSpot-Cent.com or 22.214.171.124:443 can be used for trading accounts with the number from 3,000,000 to 3,500,000 and 30,000,000 - 32,999,999;
server for cent accounts with the address InstaSpot-Cent2.com or 126.96.36.199:443 can be used for trading accounts with the numbers from 3,500,000 to 4,000,000 and 35,000,000 - 37,999,999.
In the process of registering a demo account, specify one of the following servers:
server for contests that has an address InstaSpot-1Contest.com or 188.8.131.52:443 can be used for demo accounts with the numbers from 65,000,000;
server for other demo accounts has an address InstaSpot-1Demo.com or 184.108.40.206:443 with the numbers from 60,000,000 to 65,000,000.
Differences between MetaTrader 4 and MetaTrader 5
Why does InstaSpot use 10000 lot instead of standard 100000 one?
InstaSpot Company gives an opportunity to trade on Forex market using three types of account at once: Micro Forex, Mini Forex, Standard Forex. In order to make such a technology possible a non-standard 10000 lot was introduced, which makes the pip price equal $0.01 in a 0.01 lot trade, the minimum. It allows the $5,000-$10,000 trading account holders to control their risks effectively. At the same time, the 10,000 lot size makes the calculations of a pip price convenient.
Please have a look at the data below:
0.01 InstaSpot lot deal = $0.01 pip price
0.1 InstaSpot lot deal = $0.1 pip price
1 InstaSpot lot deal = $1 pip price
10 InstaSpot lot deal = $10 pip price
100 InstaSpot lot deal = $100 pip price
1000 InstaSpot lot deal = $1000 pip price
Easy calculations and the possibility to combine three levels of Forex trading in one trading account makes InstaSpot lot an undeniable advantage of InstaSpot trading conditions.
What does leverage mean?
Leverage is the ratio of a margin amount to the borrowed amount: 1:100, 1:200, 1:1000. 1:100 leverage means that, to open a trade, you should have 100 times less amount than the amount of a trade. In InstaSpot Company you may choose the leverage from 1:1 to 1:1000.
Why can't I see all symbols in the Market Watch window?
The number of symbols you see is set up in your platform settings. In order to extend the quotes list, please right click on the Market Watch window and select "Show all symbols".
Do you increase spread during the news releases?
InstaSpot never increases spread during the news releases. Every trader can be confident that trading terms will remain steady even during the news events.
May I use expert advisors? Are there any restrictions?
There are no restrictions on the use of advisors.
Is it possible that a trader owes money to the company?
No, it is impossible. If a trader loses more than he has in a trading account, the company must cover the loss to 0.
Is there any difference between demo and live trading?
There are no differences in trading conditions and trading instruments. Trading on demo account is identical to live trading, except unavailability of deposit and withdrawal options for demo accounts.
What is the minimum deposit amount?
The minimum deposit amount is $1, and it allows you to open a trade on any instrument.
Why do EUR/GBP and EUR/CHF currency pairs have floating spread?
Variable spread is a common tool used by the largest international brokers. It is applied for a number of trading instruments, including EUR/GBP and EUR/CHF. Spread is the broker`s reward for a transaction, determined by the market conditions in which the company operates. Due to the increased spreads of counterparties and low volatility, spread was moved to a variable state. The information on all instruments for which a variable spread is used is available on the page of specifications.
How to calculate the amount of margin for a trade?
The amount of margin is equal to the trade volume divided by the leverage. The trade volume is equal to 10000 US Dollars multiplied by the amount of lots and by the exchange rate of a base currency in a pair to the USD. The base currency is the first in a currency pair. For example, in the EUR/USD currency pair the base currency is EUR (thereafter, the exchange rate of a trade to the US Dollar is EURUSD), in USDCAD - is USD (the exchange rate of a trade to the US Dollar is equal to 1, because USD/USD = 1), in GBPJPY - the base currency is GBP (the exchange rate of a trade to the US Dollar is equal to the GBP/USD exchange rate or to the exchange rate of GBPUSD). So when the GBPUSD exchange rate equals 1.4956 in a 2 lot trade with the 1:100 leverage, the margin will be 10000 * 2 * GBPUSD/100 = 299.12 USD. In a 3.5 lots trade on USDJPY with the 1:1000 leverage, the margin is equal to 10000 * 3.5 * 1/1000 = 35 USD.
For the convenience of our clients we have added a Forex calculator to our website.
Where can I request the Welcome bonus?
Please follow this link to request the Welcome bonus.
Do you have micro and mini accounts?
Yes, we do. However, trading on InstaSpot accounts is executed with micro and mini lots. It means that you can trade 0.01 lot, which is equal to micro account.
How can I change my leverage?
You can change your leverage in Client Cabinet. If for whatever reason you are not able to change it in Client Cabinet, send email to firstname.lastname@example.org or email@example.com with the following information: trading account number, phone password and leverage you want to have. Also you can contact the Customer Support Service and write the same data.
I forgot trader password or PIN code (or I want to change my trader password or PIN code). What should I do?
Trader password can be changed in Client Cabinet or in the settings of MetaTrader platform.
You can also change the trader password by applying to the Customer Support Service with the following information: account number, phone password and a new trader password (Latin letters, from 6 to 12 symbols).
If you have forgotten or lost the phone password, please contact the Customer Support Service by e-mail firstname.lastname@example.org or email@example.com, attach a scanned copy of your ID/driver license and describe the situation providing the account number. Your phone password will be recovered or changed at your discretion.
For PIN code recovery/change, it is necessary to send an email to firstname.lastname@example.org or email@example.com with the following information: trading account number, new PIN code (figures or figures and letters) and a scanned copy of your ID/driver license attached.
May I open several trading accounts in one name?
Yes, you may. There are no restrictions on the number of live and demo accounts opened in one name.
Is it true that I can trade only 8 lots maximum in MetaTrader?
No, you can type in any number of lots (up to 10000).
MetaTrader is a trading platform, which came as a breakthrough in online trading technologies in 2001. Since then, it has won favor with a lot of traders. For 14 years, MetaQuotes Software, a developer of the trading platform, has streamlined the trading software and made its operation flawless. Nowadays, the most popular versions of the trading platform are MetaTrader 4 and MetaTrader 5. There are notable differences between the fourth and fifth versions of the trading software in terms of a time of their release and the contents. Besides, the trading platforms differ in the ways how trading is managed. Let’s get more insights into important differences between these two popular trading platforms.
|№ п/п||Features for comparison||MetaTrader 4||MetaTrader 5
|1||Download||Downloading is simple and does not take much time. A trader needs to fill in a server’s web address of a brokerage company, which is chosen to open a trading account.||Downloading is simple and does not take much time. A trader needs to fill in a server’s web address of a brokerage company, which is chosen to open a trading account.|
|2||Charts displayed||The number of charts which can be displayed in parallel is unlimited. Trading is available on a tick chart.||The number of charts which can be displayed in parallel is unlimited. Trading is available on a tick chart.|
|3||Number of time frames||9 time frames||21 time frames|
|4||Fundamental analysis to trade the news||The economic calendar is unavailable by default. However, extra plug-ins can be installed.||The trading platform contains the economic calendar, which includes market moving events, fundamental data, forecasts etc.|
|5||Technical indicators, graphic patterns, and analytic objects||30 technical indicators,|
|38 technical indicators,|
46 graphic patterns,
22 analytic objects
|6||Forex advisors||MetaTrader 4 editor|
Strategy Tester 4
These products are compatible only with the 4th version of a trading platform, created by the MQL4 language.
|MetaTrader 5 editor|
Strategy Tester 5
Strategy Tester Agent Manager 5
These advanced products are upgraded and compatible only with the 5th version of a trading platform. They are written by the MQL5 language. It is more complicated to develop Expert Advisors in Meta Trader 5.
|7||Types and number of orders||Market orders – 2|
Pending orders – 4
Stop orders - 2
|Market orders – 2|
Pending orders – 6
Stop orders - 2
|8||Levels||A trader can open any number of orders on the same trading instrument in the same direction, but they will be displayed on different charts. So a trader has to work with each order separately.||A trader can open any number of orders in the same direction. However, they will coincide on a chart and will be displayed as a single position.|
|9||Buying extra MQL products||Extra MQL products can be bought through the MQL web site (MQL4.com). The 4th version of a trading platform does not provide automatic access to this web portal.||Extra MQL products can be bought through a special sub-menu as part of an interface. So, traders do not have to visit the MQL web site.|
|10||Locking||A trader can lock opposite positions.||A trader can lock opposite positions.|
|11||Trading strategies (hedging, FIFO (First in, first out) etc.||Convenient trading conditions are ensured by permission to use all trading techniques and strategies.||Convenient trading conditions are ensured by permission to use all trading techniques and strategies.|
|12||Number of users||The number of brokers trading through the 4th version exceeds the number of those who prefer the 5th version.||A much fewer number of brokers offer their clients online trading services through MetaTrader 5.|
|13||Markets||Instruments traded on Forex, futures, options, securities etc.||Popular instruments traded on Forex, metals, shares.|
|15||Interface||Simple and user-friendly. The 4th version includes popular options like One Click Trading and Drag and Drop.||The interface has been streamlined. The layout has been notably updated. Popular options like One Click Trading and Drag and Drop are available in the 5th version. The search option has been added. Analytical content is provided in the Market overview window.|
|16||Client Area||All services of Client Cabinet are available to a trader.||Client Cabinet is unavailable for accounts on MetaTrader 5. A trader makes a deposit and withdraws money through a broker’s official web site.|
What commission will I get if I become your partner?
You will get 1.5 pips per trade. This is the standard practice all over the world.
How can I refer customers?
After you open an affiliate account (which is also available for trading), you can refer customers by sending them your affiliate link. When they click the affiliate link and open a trading account, they are recorded as your referrals. You can also spread the information among your friends. Another way is to tell them your affiliate code (which your friend should enter when registering a trading account), or ask them to send an email with their full name, account number, and the number of your affiliate account to firstname.lastname@example.org. You can learn more about the affiliate programs of the company in a special section of our website.
Is there any restriction on the withdrawal of the affiliate commission?
No, there is no restriction.
What are the requirements for registering with the affiliate program?
There are no specific requirements. You can refer customers by spreading information among your friends, as well as working as InstaSpot representative in your region.
Questions about account verification
When is option trading available?
Option trading is available from 00:01 (GMT+02) Monday to 23:50 (GMT+02) Friday except for days off on Forex.
Are there any daily limits on buying options?
There are no limits on the number of options or total value of options per day.
Accounts in what currency are available for buying options?
Options trading is available for the accounts denominated in USD, EUR, RUB, US Cent, and EUR cent.
What are the minimum and maximum values of options?
The minimum and maximum option values are $1 and $1,000 for USD accounts, €1 and €1,000 for EUR accounts, RUB 30 and RUB 15,000 for the ruble-denominated accounts, respectively. For the cent-denominated accounts the minimum value is 100 cents; and the maximum value is 50,000 cents.
Where do the option prices come from?
The option price is the candlestick open price from the InstaSpot-USA live account server.
Can I cancel the purchased option?
You can cancel the purchased option 3 minutes before its activation with 10% fee. You cannot cancel the option after it is activated.
What if the activation price is equal to the closing price?
If the activation price is equal to the closing price, the option is recorded as losing because the specified term has not become true.
What is verification?
Verification is a confirmation of personal data specified when registering an account. There are two verification levels. The identity of the account holder is confirmed at the first verification level. The residence address is confirmed on the second verification level.
What is account verification needed for?
Verification is needed to deposit/withdraw funds from a trading account as well as to receive bonuses.
Where can you verify your account?
You can verify the account in the Verification section -> Account verification of your Client Area or in InstaVerify, a mobile app for Android that can be downloaded from Google Play.
How do you know that documents for verification are uploaded?
If your documents have been uploaded successfully, the corresponding status will be displayed on the Account verification page: the documents have been successfully uploaded and are being reviewed by the manager. You will also receive a confirmation email that the documents have been uploaded. After your verification request has been considered, the status in your Client area will change and you will receive an email with the results of verification. If the documents are uploaded through the mobile app, you can track your verification status in InstaVerify or by means of push notifications.
How long does account verification take?
The account is usually verified within 24 hours. In some cases, account verification takes more time.
Is account verification obligatory?
Verification is not obligatory. However, it is sometimes required to deposit/withdraw funds as well as to receive bonuses.
Is it possible to deposit/withdraw funds from unverified accounts?
Yes, it is possible except for deposits/withdrawals by means of credit cards and a wire transfer.
What documents are required for verification?
A passport or ID card is required to pass the first verification level, while a utility bill or bank statement is required to pass the second verification level. The list of documents needed for a specific verification level is featured on the company’s official website in the Traders section -> Trading account verification.
What is the minimum/maximum file size required to verify an account?
The minimum resolution is 400 pixels. The maximum file size is 25 MB.
I received an email stating that my document was not accepted for verification. What should I do?
You should follow the recommendations offered in your Client Area/InstaVerify or in the email received after your verification request has been considered. You can also send an email to email@example.com, specifying the account number and code word as well as outlining the essence of the problem.
When uploading documents, there is an error/nothing happens. What should I do?
You should check the size, format, and resolution of the file. Please note that the acceptable formats are: .png, .jpeg, .jpg, .gif and .pdf.. The minimum resolution is 400 pixels and the size of the file is up to 25 MB.
If you upload several files at once, make sure that the total size of the files does not exceed 25 MB.
Changing the browser may solve the problem.
I have opened a new trading account. Should I verify every account separately?
When you open a new trading account, it can be verified automatically. All you need is to sign in to your Client Area of the verified account, select Account Settings/Account Management, and attach a new account. All personal data of the linked accounts must match precisely, down to punctuation marks.
What is the third verification level required for?
The third verification level is required to withdraw profits from some types of bonuses. If you need the third verification level, a notification will appear on the withdrawal page. Otherwise, the third verification level is not required.
What documents should be uploaded for the third verification level?
To pass the third verification level, you need to upload a selfie with a document in your hand. The account holder's face and the entire document should be clearly visible on the selfie. The information in the document should be clearly visible as well. The document in your hand should be the document accepted at the first verification level.
How much will I earn if I start trading on Forex with minimum deposit?
It totally depends on your experience, knowledge and skills. Forex trading is very risky, and you should assume that risk and evaluate your level of professionalism. InstaSpot trading conditions make your way from a newbie to an experience trader simpler.
What do support and resistance levels mean?
Support level is a level lower than the current rate, where the upward turn is possible from.
Resistance level is a level above the current rate, which the downward turn is possible from.
What is trailing stop?
When you set a trailing stop order (at X pips), the platform does nothing until your trade brings profit in amount of X pips (rate of your trailing stop). Then the platform sets stop loss order X pips far from the current price (in our case it is the break-even point). If the market price goes up, the stop loss level also moves up proportionally. If the market price goes down, the stop loss level remains. This means that the trailing stop loss follows the current price at a distance of X pips. In this way, a trader limits the possible loss but does not limit the profit profit. Therefore, a trailing stop is a stop loss control algorithm: "it follows the price to profit". Attention! Trailing stop works only when your trading platform is connected to the server through the Internet.
What does profit figure or price movement figure mean?
Profit figure is 100 pips profit. Price movement figure is 100 pips movement. Round numbers are referred to figures as well. For example: "EURUSD passes over the seventeenth figure" means that the rate exceeded the 1.1700 level.
What are the stock exchange working hours?
Trading session opens at 22:00 (GMT+00) on Sunday and closes at 22:00 (GMT+00) on Friday.
How many trading servers does InstaSpot Company use and what regions are they located in?
InstaSpot trading system consists of 7 trading servers for live accounts and 1 trading server for demo accounts. Seven trading servers distribute the load by the system of intermediate data centers located all around the world. So the system of 7 servers allows every client to have solid and quick connection to the trading center. In case one of intermediate data centers is overloaded, client terminal automatically switches to less loaded data center.
InstaSpot trading server in the U.S.A. has 5 data centers and intended for clients all over the world, particularly, from Europe and Russia. Powerful technical innovations and reliable data channels provided by one of the best American providers make InstaSpot trading server in the U.S.A. popular among the clients from Europe.
InstaSpot trading server in Singapore (220.127.116.11:443) has 2 data centers and is used by the company's clients from countries of Middle East and South Asia. Short-time access to the server makes it attractive for Asian clients, who appreciate the speed of trading. Two data centers maintained by the leading providers of the largest Asian financial center - Singapore - distribute the load on the trading server in order to guarantee ceaseless access.
Regardless of the residence, new InstaSpot customers can choose one of seven trading servers of the company depending on their preferences. Every InstaSpot trading server is a reliable tool for managing your investments through the Internet and the difference in server access time around the world does not exceed 0.2 second. Many clients open several accounts on different servers and get the opportunity to evaluate the quality of each server in practice.
Does InstaSpot Company provide services of ECN broker?
InstaSpot Company is an international online forex broker offering its customers a full range of universal instruments to trade on Forex, including the ECN services. Learn more about ECN activity on the special page of the company's website.