InstaForex is a well-known company providing services to customers all over the world. Of course, many of them use robots – both their own and borrowed ones. Overall, this broker has many advantages for traders who work manually and can monitor the market situation: various bonus programs, promotions, and lots of trading tools. However, there is a number of specific clauses in the terms of trading that should be considered before choosing EA for InstaForex, because the robot will follow the rules of the user agreement only if it is set up properly.
First things first: let’s start with the positive things for automated trading, which are summarized below:
custom lot, which is 10 times less than that of other brokers and allows you not to risk with large sums of money when testing on a real account. Moreover, there is an ability to work with cent accounts;
ability to activate swap-free service;
fixed spreads on all tools, resulting in no surprises and failures of the EA in terms of placing stop-loss and take-profit;
How to choose the EA for Instaforex without breaking the offer
Particular attention should be paid to a number of negative things in the articles, the most important of which is a deal hold time limit, i.e. the company has the right to cancel the result of all deals with the duration of less than five minutes. The restriction is not very pleasant, but not fatal – in any case, rare robot can adequately pip, and they usually siphon in any dealing center. Nevertheless, to avoid intraday algorithm creating a conflict of interest, it is recommended to put minimum deal hold time in the code.
The EA for InstaForex, except the above, must be written in such a way that profit from the price gap in the profit direction should not exceed 10% of the deposit. This condition is quite controversial and constantly causes resentment of inattentive algotraders. However, practice shows that if the strategy is not specifically "sharpened" for such situations, which may result from InstaForex software failures, the DC doesn’t apply this rule to the traders.
Another point worth mentioning relates to profit restrictions of 10% from the deposit, which applies to the deals on the news pulses. In this case, the profit can be adjusted. Therefore, if you plan using the EA for Instaforex, don’t use the version involving news trading.
Summarizing: what the EA for Instaforex should be
Let’s briefly summarize and get the following "white" list of the robots:
scalpers (which hold a deal longer than five minutes) and middle-terms;
those that don’t use glitches and bugs in the broker software;
as for the robots which are guided by volatility and intraday channels breakdowns, both our observations and the opinion of practicing traders agree that the company doesn’t impose any restrictions. Even if the deal is accidentally made on the news, it may remain not corrected, as the DC checks the entire set of deals on the account before making a decision on how to interact with the client. So, if the trader generally respects the offer, the small individual failures are “forgiven.”