While VideForex is primarily geared towards servicing novice traders, they do offer three different account types that reward traders who make larger deposit amounts. During our VideForex review, we found out that the brokerage provider is not well-regulated. Although they offer frequent promotions and tonnes of bonuses, we advise traders to interact with VideForex cautiously.
VideForex is an offshore FX broker that has been in operation since 2017. Based in Seychelles, this broker operates as part of the Vanuatu-based Finance Group Corporation. VideForex offers trading in over 100 assets, including forex pairs, stocks, indices, commodities, metals, and cryptocurrencies. The diversity allows both short-term and long-term strategies across markets. The “TradingFinder” platform offers various services, some of which, like introductions, are free, while others, such as our specialized services, are provided for a fee or through a subscription. Forex, binary options, cryptocurrency, and CFD trading on margin involve high risk and are not suitable for all investors and traders.
#4 Log in to Your Account
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Videforex Bonuses
- We will also provide our verdict on whether Videforex is a scam or a legit broker to trade with.
- As per the broker’s terms and conditions, opening an unleveraged cryptocurrency CFD position will face a charge of 1–2.5% of the transaction value.
- After that, there are some variances between the account types, so we’ve listed all of the features of each below.
For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. Trading Brokers Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey. We have over 20 years of experience when it comes to trading online so we know what to look for. Cybersecurity-related crime is an ever-present threat to online traders; so, some brokers implement high-security protocols to ensure their customer’s safety as well as their own. Videforex traders have the option to double up or rollover their positions. Videforex has its own mobile app which supports the broker’s web-based platform.
Trading Hours
Despite this, there are some negative reviews, so always do your research before committing funds. When a trader signs up with Videforex, account verification is not required and your account status will remain not verified until a withdrawal is requested. As per the user agreement, payment rules state that a withdrawal of any value requires customers to verify their identity before they can receive funds. Crypto withdrawals are free, but credit card withdrawals incur a 5% fee. To minimize costs, using cryptocurrencies like BTC, ETH, or LTC is recommended. VideForex is more than just another name in the crowded field of online brokers.
Deposit and Withdrawal Tools
VideForex has managed to acquire close to 5500 active users since its launch in 2017, with a monthly transaction volume of close to $5 million. VideForex should offer more clarity for its traders, and we expect videforex the company to update the information at the earliest. There are no additional details regarding this tool on the broker’s website, so we’re going to assume that it is built into the trading platform as standard. Silver and Gold account holders are provided with access to a web session “Master Class” that presumably teaches how to trade Forex. Again, no additional details were provided about how or when to access this class.
Asset Selection & Market Symbols
- Unfortunately, Videforex is not currently regulated by any reputable legal and financial bodies like the FCA.
- Compare the markets and instruments offered by Videforex and its competitors.
- Traders can speculate on crypto prices in pairs with USD and CNY through binary options and CFDs.
- The first was that any international wire transfer withdrawal will be charged an upfront $50 transfer fee.
VideForex is said to offer 24/7 live video chat support, which we would have assumed was exactly that – a video chat with an agent. However, having tested it, we can state that this is not how it works. Instead, you’ll have access to live chat, just the same as what most all Forex brokers offer, but be able to see a pre-recorded video of a person (a VideForex employee?) that plays on a loop.
Markets
VideForex offers a prominently placed live video chat feature that grants access to an actual customer service representative for 24 hours a day and seven days a week. We found that the broker’s customer service to be one of the best in the industry, and traders can be further elated by the presence of an actual human being answering their queries in real time. Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. VideForex customers can trade on various assets including binary options, stocks, CFDs, forex, and cryptocurrencies. As we will see later in this review, they do not provide industry standard tools such as the MT4.
Use the trading panel to choose expiration time, trade amount, payout, and potential payout (USD), and finally, choose up or down to go long or short on the chosen asset. You can manage your accounts in the upper right corner and switch between main or demo accounts. Additionally, VideForex has a minimum withdrawal amount of not less than $50. The best thing about VideForex withdrawals is that they are processed within the hour.
Although VideForex is new in the brokerage industry, they offer many products and their customer service is commendable. Customers can choose to access VideForex’s web-based platform via their Android and iPhone devices. VideForex also has native trading apps that are available for free on Play Store and App Store. Major indices provided by this broker include US DOW, S&P 500, Nasdaq, DAX, FTSE 100 UK, ISE and many others. The commodities available include Silver, Platinum, Oil, Sugar, and Coffee.