Insta Markets Review – Facts About Insta-Markets.Com Broker
Insta Markets claims to have a license under Instant Trading EU Ltd. Instant Trading EU Ltd is a Cyprus-based firm, which means that this broker should be regulated by CySEC, which is not.
The UK address listed on their website urged us to check if we could find this broker in the FCA’s register.
However, we found the warning the FCA issued against this broker instead. Our Insta Markets review will explain in detail what are we dealing with here, so keep reading the following.
|Insta Markets, Insta Markets Global Fx
|331 Kilburn High Road, London, UNITED KINGDOM, NW6 7QB
Regulation and Fund Security at Insta Markets
The FCA’s warning was issued on 05/10/2022 and confirmed that this company is unauthorized to offer any brokerage services in the UK. A warning issued by a regulatory body itself is solid proof we’re dealing with a scam broker.
Granted, this scammer claims it provides segregated accounts, negative balance protection, and additional protection of up to $1,000,000. However, the FCA’s warning makes us believe that’s not true.
Trading Software Available at Insta Markets
Insta Markets promises access to MetaTrader4 to its clients. Besides MT4, there are some other trading tools at their disposal:
- Market Calendar
- Forex VPS
- Technical Indicators
The problem is that the installation file for MT4 is not provided, so this aspect of this scammer’s brokerage is also questionable.
MetaTrader4 and MetaTrader5 have been the industry standard for over a decade now. Most regulated brokers offer MT4 and MT5 as they offer a variety of trading tools and advanced features. Both are accessible on most devices and operating systems.
Deposit and Withdrawal Methods at Insta Markets
Surprisingly, this broker doesn’t require a minimum deposit. According to their policy, Insta accepts the following payment methods:
- Wire transfer
- Credit/debit cards
Although there are no transaction fees, this shady broker charges merchant + handling fees. This is done in case one withdraws assets without trading or if the trade volume doesn’t exceed a certain number.
How the Fraud has Carried Out
The most challenging part of the scam is to get unsuspecting victims to make deposits. Advertisements and promises of huge profits are usually shared on social media like Instagram and TikTok and Google Ads.
And as soon as deposits are made, their accounts get cleared up. Once people start noticing illicit activities and decide to get their money back, troubles start.
Every withdrawal request gets denied, agents stop answering inquiries, and even start deactivating traders’ accounts. There are complaints online confirming this being happened with scammers like this.
Insta Markets Summary
Scammers like this broker mostly operate offshore, meaning they remain anonymous. Providing false regulatory information is a huge red flag and should be taken seriously.
Therefore, checking regulators’ registers is recommended for your protection. And more importantly, regulators’ warnings should be taken seriously.
Most of the unsuspecting victims fall into scammers’ traps because they’re promised easy money. The truth is that over 70% of investors lose money when trading CFDs. And forex trading is riskier than trading stocks.
So, as forex and CFDs trading, as well as trading with other instruments, is a high risk by default, choose wisely. Think twice before taking any risks while investing money.
If you have any negative experience with this or any other fraudulent broker, we would be grateful if you could share it with us. Getting your money back is possible, and we can assist you by reporting your scammer.
FAQs About Insta Markets Broker
Is Insta Markets a Regulated Broker?
Insta Markets is not regulated, it’s been blacklisted by the FCA not so long ago.
Is My Money Safe at Insta Markets?
Insta Markets is a fraudulent brokerage blacklisted by the UK regulatory body, which means your money is not safe with them.
What Is The Minimum Deposit at Insta Markets?
There is no minimum deposit at Insta Markets required to start trading.