There are not many chances in life to meet extraordinary individuals. But Vladimir Syrov, International Business Director at Russian forex brokerage Instaforex certainly fits the requirements.
“Many Forex companies are established by a group of individuals who only want to make as much money from traders so that they can divide it between them,” says Vladimir. “When one company advertises itself as a group of traders who decided to make the world happy by their own forex firm - it cannot be something serious”.
And Vladimir is no stranger to the dodgy dealings going on in the Forex world – large numbers of ‘bucketshops’ where brokers take your money without placing your bet, combined with few resources to deal with at the beginning make forex a ‘high loss’ industry:
“Over 97 pct of traders lose their deposits and only 3 pct reach the top of financial prosperity – Soros, Cohen, Victor Niederhoffer, Larry Williams, Alexander Elder and others,” Vladimir says.
“In such odds, it is important that traders find themselves a learning centre for advancing their prospects”.
Starting from Kaliningrad, InstaForex was started by a group of investment companies. Although one of many Russian forex brokers these days, InstaForex wants to invest in Traders’ Education.
“Our Philosophy is simple,” said Vladimir, “We started investing in traders because the more the forex market grows, the more we earn”.
In 2009, InstaForex paid out 250,000 USD to one of its best traders whilst also setting up competitions for two Hummers, trading school places at different education projects such as MasterForex-V academy, and other incentives to train its customers to a high level.
“There is no shortage of investment money in traders,” says Vladimir, “but there is a shortage of well-trained individuals that can succeed in making income from the market”
“Because we only make money on the spreads”.
InstaForex is one of a number of ECN-like brokers now available on the market including, IB – Interactive Brokers, Capital Forex (London Capital Group) and Alpari.
However, they also offer the widest choice of payment system on the market both for deposit and withdrawal, up to 1:1000 leverage and a $1 minimum deposit offering most competitive start-up money required and good leverage options to earn money in big multiples if you want.
In fact a 30% welcome bonus is also added to any initial deposit making it the highest offering available on the market.
The company also specialises in Micro Forex, trading from as little as $1. This niche market, which allows beginners to trade in very small lots takes the risk out of forex trading – should your chosen pair go 100 or even a thousand points in the wrong direction you still won’t lose as much as your original deposit.
In fact, according to Stock Leader magazine, InstaForex is a world leader when it comes to the niche of Micro-Forex - companies such as FXCM, which launched FXCM Micro are the only other to offer such a combination of small lots and easy rates – FXCM Micro though, only offers trading from a $25 minimum deposit.
“This key market shows our commitment to the learning trader,” he said.
InstaForex also offers traders the chance to win prizes, even on demo accounts. “InstaForex Sniper” was their first contest amongst demo traders and was funded with $500 real bonus.
The rapid proliferation of InstaForex has surprised many with clients now in over 650 countries – and in 2009, representative offices were opened in Malaysia, Indonesia, different CIS countries and many others just two years after starting their ‘quest for internationalisation’ in South East Asia.
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 stress our marketing efforts in South East 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. Masterforex-V meanwhile, which trains its recruits are also boasting 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.
Meanwhile in Georgia, which may be a politically sensitive country for Russians to go - InstaForex has opened its own partner – InstaGeorgia specially for its neighbour with high grade services despite the recent conflict over South Ossetia in 2008.
“We are trying to be as far away from Politics as possible. It’s no difference for us where customer comes from. It’s simply THE CUSTOMER – and we have to work a lot to satisfy his or her needs regardless of geographic location. ” said InstaForex publically to IBTimes.
InstaForex has also won several awards, including ‘Stock leader’ and ‘World Finance’magazines awards for best ‘Micro-Forex’ broker.