Meeting extraordinary individuals is rare. Vladimir Syrov, International Business Director at Russian Forex brokerage company InstaForex is certainly a fluke.
"Many Forex companies were established by a group of individuals who only want to make as much money from traders as possible to share it then," says Vladimir. “A company advertising itself as a group of traders who decided to make the world happy by their own Forex firm just cannot be something serious”.
Vladimir is aware of dodgy dealing going on in the Forex world. A large number of “bucketshops” where brokers take your money without executing your orders combined with few resources to start with make Forex a “high loss” industry:
“Over 97% of traders lose their deposits and only 3% reach the top of financial prosperity – Soros, Cohen, Victor Niederhoffer, Larry Williams, Alexander Elder and others,” Vladimir says.
“Taking into consideration such odds, it is important for traders to find a training centre to brighten their prospects”.
InstaForex Company was started by a group of investment companies in Kaliningrad. Despite being one of many Russian Forex brokers these days, InstaForex Company intends to invest in education of traders.
“Our philosophy is simple,” said Vladimir. “We began investing in traders because the more Forex grows, the more we earn”.
In 2009, InstaForex paid 250,000 USD to one of its best traders whilst also organizing competitions for two Hummers, an academy of trading including different educational projects such as MasterForex-V academy and other programmes for effective training of its customers.
“There is no shortage of investment in traders,” says Vladimir, “but there is a shortage of well-trained individuals that can succeed in making income from working on the market”.
“Because we only derive profit from spreads”.
InstaForex is one of ECN brokers now available on the market including IB – Interactive Brokers, Capital Forex (London Capital Group) and Alpari. However, InstaForex Company offers the widest choice of payment systems on the market, both for deposit and withdrawal, up to 1:1000 leverage and a 1 USD minimum deposit. Its customers enjoy the most convenient start-up deposit requirements and good leverage options to earn money in big volumes.
Additionally, a 30% bonus is added to any initial deposit significantly boosting it, which is absolutely exclusive on the market.
The company also specializes in Micro Forex trading from as little as 1 USD. It enables beginners to trade in very small lots. Furthermore, Micro Forex takes the risk out of trading — should your pair go a hundred or even a thousand points in the wrong direction, you still will not lose as much as your original deposit.
In fact, according to Stock Leader magazine, InstaForex Company is a world's leader when it comes to Micro Forex trading. FXCM that launched FXCM Micro is the only other to offer such a combination of small lots and easy rates. However, it only offers trading from 25 USD as minimum deposit.
“This is what shows our commitment to traders willing to learn and train,” Vladimir said.
InstaForex Company also provides traders with a chance to win prizes, even if they run demo accounts. InstaForex Sniper was their first contest amongst demo traders with a prize pool of 500 USD.
The rapid proliferation of InstaForex has surprised many with clients now in over 650 countries. In 2009, just two years after starting its “quest for internationalisation” in Southeast Asia, InstaForex Company opened representative offices in Malaysia, Indonesia, the CIS countries and many others.
Interviewed by IBTimes, Vladimir spoke of his joy at finally reaching out to the UK:
“After taking some marketing research steps, we found that we should concentrate our marketing efforts in Southeast Asia,” he said. “We tripled our revenue using the aforementioned policy”.
“The UK is one of important steps in 2011,” he added with a wry smile.
Meanwhile, Masterforex-V training newcomers is also boasting of success:
In 2006, three traders who attended the Academy for one month increased their deposits from 10,000 USD to several millions using IFX Market.
And in 2009, the success of MasterForex-V traders led to some brokers — Forex Club, Alpari, Teletrade and Oanda — prohibiting discussion of MasterForex books.
In Georgia, which may be a politically sensitive country for Russians to go to, InstaForex Company has opened its partner – InstaGeorgia with high grade services, despite the recent conflict over South Ossetia in 2008.
“We are trying to be as politically neutral as possible. It does not matter for us where a customer comes from. It is simply THE CUSTOMER, and we have to do our best to satisfy his or her needs, regardless of geographic location.” said InstaForex publicly to IBTimes.
InstaForex Company has also won several awards, including Stock Leader and World Finance awards and the Best Micro Forex broker title.
IBTimesFX Internet edition, May 2010