Videforex Review

Category: Reviews | Author: Trading Brokers | Date: September 22, 2023

Videforex is an online broker that offers forex and binary options trading on a variety of assets, such as currencies, stocks, indices, commodities, and cryptocurrencies. The broker was launched in 2017 and is operated by Vide Projects Ltd, a company registered in Seychelles. Videforex claims to provide a user-friendly and innovative trading platform, as well as various tools, education, and account types to suit different trading styles and preferences. However, as with any online broker, there are also some potential drawbacks and risks involved in trading with Videforex. Therefore, it is essential to conduct a thorough and objective review of the broker before deciding to open an account and invest your money. In this article, we will review Videforex and evaluate its regulation, platforms, tools, education, markets, accounts, and funding methods. We will also provide our verdict on whether Videforex is a scam or a legit broker to trade with.

Pros & Cons

  • VideForex offers a variety of account types
  • The broker offers a range of payment methods
  • The broker provides access to copy trading tools
  • Allows fast and secure funding and withdrawal methods, including credit/debit cards and cryptocurrencies
  • Limited information on the trading platform
  • The broker has a high minimum deposit
  • VideForex is not regulated by any financial authorities
  • No physical address

Summary

Videforex Review

Videforex Review

Launched in 2017 and operated by Vide Projects Ltd, a company registered in Seychelles, Videforex is an online broker that caters to forex and binary options traders. The broker boasts a user-friendly and innovative trading platform that features live video chat support 24/7. The platform is available in three versions: web, Android, and iPhone. Videforex also offers various tools, education, and account types to suit different trading styles and preferences. The broker allows traders to access a wide range of markets, including currencies, stocks, indices, commodities, and cryptocurrencies. Moreover, Videforex claims to provide fast and secure funding and withdrawal methods, as well as guaranteed withdrawal processing within one hour. However, Videforex is not regulated by any reputable authority, which raises some concerns about its credibility and safety. Therefore, it is important to weigh the pros and cons of trading with Videforex before making a decision.

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Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

Videforex is one of those brokers that does not have any form of regulation. The broker is operated by Vide Projects Ltd, a company registered in Seychelles, an offshore jurisdiction that does not regulate forex or binary options trading. This means that Videforex is not subject to any audits, inspections, or compliance checks by any authority. It also means that the broker can set its own terms and conditions, fees, and policies without any transparency or disclosure.

The lack of regulation poses a significant risk for traders who choose to trade with Videforex. There is no guarantee that the broker will honor its obligations, process withdrawals, or safeguard client funds. There is also no recourse or legal protection for traders in case of any disputes or problems with an offshore broker. Furthermore, there is no way to verify the legitimacy, credibility, or reputation of the broker.

Therefore, it is strongly advised to avoid trading with unregulated brokers like Videforex. Trading with such brokers exposes traders to a high level of uncertainty, insecurity, and potential fraud. Instead, traders should look for brokers that are regulated by well-known and respected authorities, such as the FCA in the UK, ASIC in Australia, CySEC in Cyprus, or NFA in the US. These regulators have strict rules and standards for brokers to follow, and they also provide various benefits and protections for traders, such as compensation schemes, dispute resolution services, and customer support. Please see a list of regulated brokers for some alternative options.

Platforms & Tools

Videforex provides its clients with a unique and innovative trading platform that features live video chat support 24/7. The platform is designed for trading forex and binary options on a variety of assets, such as currencies, stocks, indices, commodities, and cryptocurrencies. The platform is available in three versions: web, Android, and iPhone.

Videforex Web Trader

Videforex Web Trader

The web version can be accessed via any browser without any downloads or installations. The Android and iPhone versions can be downloaded for free from the Google Play Store and the App Store, respectively.

Videforex Mobile

Videforex Mobile

The platform offers a user-friendly and intuitive interface that allows clients to stay connected with the global market and not miss out on any trading opportunities. The platform features regular CFD and options trading, direct deposit and withdrawal via the app, and a 60-second trading option. Additionally, clients have access to their account and portfolio information through the platform. The benefits of the platform include instant execution of trades, live charts of every option available, the ability to view trade history, and the same login as the web-based platform.

The platform also offers various tools and resources to enhance the trading experience and performance of its clients. Some of these tools and resources are:

  • Trading Signals: Videforex offers free trading signals that are generated by advanced algorithms and technical analysis. These signals provide guidance on when to enter or exit a trade, as well as the direction, expiry time, and asset to trade. Clients can access these signals from the platform or via email or SMS.
  • Market News: Videforex provides the latest market news and updates from reliable sources like Reuters, Bloomberg, and CNBC. These news articles cover various topics and events that may affect the market movements and trends. Clients can access these news articles from the platform or via email or SMS.
  • Economic Calendar: Videforex displays an economic calendar on its website that shows the upcoming economic events and indicators that may have an impact on the market. The calendar allows clients to filter by date, country, currency, impact, and category. The calendar also shows the actual, forecasted, and previous values of each indicator, as well as the market sentiment.
  • Trading Contests: Videforex organizes weekly trading contests for its clients to compete with each other and win cash prizes. The contests are based on the total turnover of each participant during the contest period. The top 20 traders with the highest turnover are awarded with cash prizes ranging from $100 to $10,000.

Education

Videforex’s dedication to supporting its clients extends to its education segment, a valuable resource aimed at enhancing clients’ trading skills and knowledge. This educational section covers a range of topics relevant to forex and binary options trading, including:

  • Trading Basics: This section introduces the basic concepts and terms of forex and binary options trading, such as currency pairs, strike price, expiration time, payout, risk, and return. It also explains the differences and similarities between forex and binary options trading, as well as the advantages and disadvantages of each.
  • Trading Strategies: This section provides some examples of trading strategies that can be used for forex and binary options trading, such as trend following, breakout, reversal, hedging, and martingale. It also explains how to use technical indicators, such as moving averages, Bollinger bands, stochastic oscillator, and RSI, to identify trading signals and opportunities.
  • Trading Tips: This section offers some useful tips and advice for traders to improve their trading performance and results, such as how to choose a reliable broker, how to manage risk and emotions, how to avoid common mistakes and scams, and how to develop a trading plan and discipline.
  • Glossary of Trading Terms: An essential resource, this glossary clarifies common forex and binary options trading terminology, such as asset, call option, put option, in-the-money, out-of-the-money, leverage, margin, and more.

Videforex’s education segment does not end here. In addition to web-based learning, the platform also provides opportunities for interactive learning through live video chat support 24/7. Clients can contact the live managers via the platform or the app and ask any questions or doubts they may have about trading or the platform. The live managers are friendly, professional, and knowledgeable and can assist clients with various aspects of trading, such as:

  • Platform Features: The live managers can guide clients through the platform features and functionalities, such as how to open an account, how to deposit and withdraw funds, how to place trades, how to use tools and resources, and how to access customer support.
  • Market News: The live managers can provide clients with the latest market news and updates from reputable sources like Reuters, Bloomberg, and CNBC. They can also explain how these news events may affect the market movements and trends.
  • Trading Signals: The live managers can provide clients with free trading signals that are generated by advanced algorithms and technical analysis. They can also explain how to use these signals to enter or exit trades, as well as the direction, expiration time, and asset to trade.
  • Trading Contests: The live managers can inform clients about the weekly trading contests that are organized by Videforex for their clients to compete with each other and win cash prizes. They can also explain how to participate in these contests and what are the rules and criteria.

In summary, Videforex’s education segment and live video chat support pave the way for clients to not only understand the intricacies of trading but also to equip themselves with the skills, knowledge, and confidence necessary for navigating the dynamic landscape of forex and binary options trading.

Markets

Videforex offers a variety of markets for its clients to trade on, including forex, CFDs, and options. These markets allow clients to speculate on the price movements of different assets, such as currencies, stocks, indices, commodities, and cryptocurrencies. Each market has its own characteristics, advantages, and disadvantages, and requires different strategies and skills to trade successfully.

Forex Currency Pairs: Videforex offers a variety of major, minor, and exotic currency pairs for trading. This allows clients to speculate on the exchange rate movements between different currencies, taking advantage of potential profit opportunities in the global foreign exchange market. Some examples of currency pairs offered by Videforex are EUR/USD, GBP/USD, USD/JPY, USD/CAD, AUD/USD, USD/CHF, NZD/USD, EUR/GBP, EUR/JPY, GBP/JPY, and USD/ZAR.

CFDs (Contracts for Difference): Clients can trade CFDs on various underlying assets such as stocks, indices, commodities, and cryptocurrencies. CFDs enable traders to speculate on the price movements of these assets without actually owning them, offering potential benefits such as leverage and the ability to profit from both rising and falling markets. Some examples of CFDs offered by Videforex are Apple, Amazon, Google, Facebook, Tesla, Dow Jones 30, S&P 500, FTSE 100, DAX 30, Gold, Silver, Oil, Bitcoin, Ethereum, Litecoin, and Ripple.

Options: Videforex provides options trading, giving clients the opportunity to buy or sell options contracts based on their market predictions. Options provide flexibility in terms of risk management and offer potential for profit through various strategies, such as buying call or put options or employing complex options spreads.

By offering options across these markets, Videforex enables traders to enjoy flexibility and diversity, allowing them to speculate on market movements while controlling their risk and reward. This extensive selection reflects Videforex’s commitment to providing a user-friendly and innovative trading platform.

Accounts

Videforex caters to a diverse range of trading preferences and styles, providing clients with a choice of three account types: Bronze, Silver, and Gold. Each account type comes with unique features and benefits, allowing clients to align their trading strategy with their individual needs. Here’s a brief overview of each account type:

  • Bronze Account: Suitable for beginners and traders who want to test the platform, this account type offers 24/7 live video chat support, withdrawals in 1 hour, a demo account, and a copy trading tool. As a bonus, clients can increase their deposit by 20%. The minimum deposit is $250 and the maximum leverage is 1:100.
  • Silver Account: Ideal for intermediate and experienced traders who want to enhance their trading skills and results, this account type includes all of the features of the Bronze account, as well as a master class (web session) and the first 3 risk-free trades. As an added bonus, clients can increase their deposit by 50%. The minimum deposit is $1,000 and the maximum leverage is 1:100.
  • Gold Account: Designed for advanced and professional traders who want to enjoy the highest level of personalized support and service, this account type includes all of the features of the Bronze and Silver accounts, as well as a personal success manager to provide clients with customized trading support. Clients can also increase their deposit by 100% and also receive the first 3 risk-free trades. Additionally, they have access to the master class (web session). The minimum deposit is $3,000 and the maximum leverage is 1:100.

In summary, Videforex offers a variety of account types to suit different trading styles and preferences. Each account type has its own advantages and disadvantages and requires different levels of investment and risk tolerance. Therefore, clients should carefully consider their trading goals and needs before choosing an account type.

Funding

Videforex offers a variety of payment methods for funding trading accounts and withdrawing profits:

  • Credit/Debit Cards: Visa and Mastercard enable deposits and withdrawals. The minimum deposit and withdrawal amounts are $250, with no maximum limit per transaction. There is a transfer fee of 5% for Visa and Mastercard payments, which may vary depending on the currency and the card issuer. Deposits made using Visa and Mastercard are credited instantly, while withdrawals are processed within up to 1 hour.
  • Cryptocurrencies: Bitcoin, Altcoins, and Ethereum support both deposits and withdrawals. The minimum deposit and withdrawal amounts are $250, with no maximum limit per transaction. There is no transaction fee for cryptocurrency payments, which may offer lower costs and higher security than other methods. Deposits and withdrawals made using cryptocurrencies are also processed instantly.

To initiate transactions, log in to your Videforex account and visit the “Cashier” section. Here, select your preferred payment method and follow the on-screen instructions. Processing times may vary depending on the method and network involved.

Conclusion

In conclusion, Videforex is an online broker that offers forex and binary options trading on a variety of markets, such as currencies, stocks, indices, commodities, and cryptocurrencies. The broker provides a user-friendly and innovative trading platform that features live video chat support 24/7. The platform is available in web, Android, and iPhone versions. Videforex also offers various tools, education, and account types to suit different trading styles and preferences. The broker claims to provide fast and secure funding and withdrawal methods, as well as guaranteed withdrawal processing within one hour. However, Videforex is not regulated by any reputable authority, which raises some concerns about its credibility and safety. Therefore, it is important to weigh the pros and cons of trading with Videforex before making a decision. Additionally, there are other brokers with longer track records that might be worth considering as alternative options. For more choices, we recommend you to check out our trading broker reviews.

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$250

Videforex is an online broker that provides access to various markets through binary options and CFDs. The broker has a proprietary web-based platform that features live video chat support and copy trading. Videforex also offers attractive bonuses, fast withdrawals, and trading contests for its clients. However, the broker is not regulated by any reputable authority and has high spreads and commissions compared to other brokers.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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