Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

Instaforex
0 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT INSTAFOREX
Spread Co
7.9 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT SPREAD CO
XTB
10 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT XTB
About

InstaForex are regulated by CySEC. They were founded in 2007 and are used by over 7,000,000 traders.

Spread Co is regulated by the Financial Conduct Authority. Spread Co have provided Forex trading services since 2005.

XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002.

Why choose them?
  • Yes Over 11 years in business
  • Yes Used by 7,000,000 traders
  • Yes Offers swap-free accounts
  • Yes Over 13 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
Headquarters Kaliningrad, Russia London, UK Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting No Yes No
Social Trading Yes No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 107 40 48
Commodities Offered 2 2 21
Stocks Offered 88 1000 1606
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No No Yes
Energies No Yes Yes
Metals Yes Yes Yes
Agriculturals No Yes Yes
FTSE No Yes Yes
Dow Jones No Yes Yes
Dax No Yes Yes
Nikkei No No Yes
ETFs No Yes Yes
IPO No Yes Yes
See all instruments

50% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

61.8% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

77% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes No Yes
MT5 Yes No No
MT4 Mac No No Yes
WebTrader Yes Yes Yes
Mirror Trader Yes No Yes
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM Yes No No
Custom Platforms No Spread Co Xstation5

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes No Yes
Available Languages

Arabic, Chinese, English, Portuguese, Russian, Spanish, and Indonesian

English and German

English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

See platform & features

50% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

61.8% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

77% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Instaforex and Spread Co

Demo account Yes Yes Yes
Mini account Yes No Yes
Micro account Yes No Yes
Standard account Yes Yes Yes
ECN Account No No No
Islamic account Yes No Yes
Zero spread account Yes No No
VIP account No No Yes
Fixed spreads Yes Yes Yes
Variable spreads Yes No Yes
See account options

50% of retail investor accounts lose money when trading CFDs with this provider.

See account options

61.8% of retail investor accounts lose money when trading CFDs with this provider

See account options

77% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes No Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes No Yes
Virtual private server Yes No No
Direct market access No No Yes
STP broker Yes No Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot £1 0.01 Lot
Max trade 1,000 Lot None 100 Lot
Min deposit $1 $100 $1

RISK MANAGEMENT

Stop losses No Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops No Yes Yes
Price alerts Yes No Yes
Signal trading Yes No Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller Yes No Yes
Skrill No Yes Yes
Payment processing time 1-2 business days Varies Same day if requested before 1PM
Withdrawal processing time 1-6 business days Varies Same day if requested before 1PM
See all funding options

50% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

61.8% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

77% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US US US,IN,PK,BD,IQ,IR,IL,AF,AU,CA
Contact email Send Email Send Email Send Email
Phone number 7 (812) 4580354 0800 078 9398 44 2036953085
Live Chat Yes Yes Yes
Website https://www.instaforex.com/ https://www.spreadco.com/ www.xtb.com
Spreads:
EUR/USD (Average: 0.7 pips) Not offered 0.8 pips 0.1 pips
GBP/USD (Average: 1.1 pips) 2.0 pips Not offered 0.1 pips
USD/JPY (Average: 1.1 pips) 2.0 pips Not offered 0.1 pips
AUD/USD (Average: 0.8 pips) 2.0 pips Not offered 0.2 pips
USD/CHF (Average: 2.3 pips) Not offered Not offered 0.2 pips
USD/CAD (Average: 2.9 pips) Not offered Not offered 0.3 pips
NZD/USD (Average: 3.6 pips) Not offered Not offered 0.3 pips
EUR/GBP (Average: 2.4 pips) Not offered Not offered 0.1 pips
View all spreads

50% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

61.8% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

77% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee Yes No No
Commission Yes, $30 No Yes
Deposit Fee No Varies No
Withdrawal Fee Yes Varies No
View All Fees

50% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

61.8% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

77% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from https://www.instaforex.com/. Last updated on 01/12/2019.

All information collected from https://www.spreadco.com/. Last updated on 01/12/2019.

All information collected from www.xtb.com. Last updated on 01/12/2019.

Company

InstaForex are regulated by CySEC. They were founded in 2007 and are used by over 7,000,000 traders.

Since 2006 Spread CO have been a global leader in spread betting and CFD services with their competitive spreads, low margins and growing trading community. They provide fixed spreads so you know the spread you see is the spread you get. Every Spread Co client is assigned a dedicated relationship manage who will not only help you get get started on their trading platform but also keep you informed with market updates. The benefits of trading with Spread Co include tight, fixed spreads, no finance charges on short index or equity positions, low margins, relationship manger combined with their trusted reliable platform and ultra low commissions. Spread Co is also regulated by the stringent Financial Conduct Authority making them a great option for those looking for a trusted spread betting or CFD service provider.

For more information about trading with Spread Co, we have put together an indepth Spread Co review with all the pros and cons about this broker.

XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances.

XTB operates with two factors in mind; to provide traders with the fastest execution speeds and to be the most transparent broker on the market, which is reflected by the services and products they provide.

XTB also have a dedicated education area - the Trading Academy - which contains material to help you become a better trader, including video tutorials, trading courses, articles and much more to improve your skills at every step of your trading journey.

If you are looking for a broker that is regulated by the Financial Conduct Authority and focuses on transparency, fast execution speeds and customer service, XTB is a great option.

For more information about trading with XTB, we have put together an in-depth XTB review covering the pros and cons of this broker.

Popular comparisons

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Popular comparisons feat. Spread Co

Spread Co Alternatives

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Popular comparisons feat. XTB

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Instaforex or Spread Co?

Access to MT4 or low spreads?

If you’re a trader looking for a broker that offers the popular MT4 trading platform, Instaforex is likely a better fit. However, if you want a broker with lower spreads on currency pairs like EUR/USD, Spread Co may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider Instaforex to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

Instaforex is regulated by CySEC, while Spread Co is regulated by Financial Conduct Authority.

As the Financial Conduct Authority are one of the most stringent regulators in the world, Spread Co will have very strict guidelines to follow to ensure they protect their retail trader clients.

XTB are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

Instaforex has been around for 12 years, while Spread Co have been around for 14 years. Our third alternative broker, XTB, have been around for 17 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Instaforex does not use tier one banks as their banking partner. Spread Co uses tier one banks as their banking partner.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

According to their websites, Instaforex is more popular with over 7,000,000 traders, while Spread Co is used by 5,000 traders. XTB, in comparison, is used by 230,000.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both Instaforex and Spread Co are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Instaforex are based in Kaliningrad, Russia, while Spread Co are based in London, UK .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Instaforex and Spread Co offer forex trading. Instaforex have a slightly larger variety of currency pairs with 107 pairs, compared to 40 offered by Spread Co. Also, if you’re looking to trade cryptocurrencies, Instaforex offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

If you’re looking to trade commodities like gold, silver or oil, Instaforex may be a better fit as Spread Co does not offer commodity trading.

Instaforex also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

Instaforex also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. XTB, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

Instaforex does allow scalping and hedging. While Spread Co does not allow scalping but does allow hedging. You can trade with EAs (expert advisors) on Instaforex but you can't trade EAs (expert advisors) with Spread Co.

In terms of risk management tools, neither Instaforex or Spread Co offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

Instaforex accept Neteller while Spread Co accept Skrill.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, Instaforex and Spread Co both charge points. Therefore, both brokers are equally affordable for this instrument. You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: Instaforex or Spread Co?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Instaforex is more reliable based on our criteria above. Spread Co has a wider range of instruments to trade. Instaforex offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.