Videforex Review

Videforex Review

Videforex is an online broker that specializes in options, forex, and CFD trading. Clients have access to over 100 assets through their proprietary trading software. We will review Videforex’s broker review, which includes their account registration, login process and spread offering. We also reviewed their platform and mobile apps to find out their key features.

Videforex headlines

Videforex was founded in 2016 by INVOLVA CORP, a Marshall Islands-based company. The broker is not registered with any regulatory or financial body.

Videforex Trading Platform

Videforex provides clients with its web-based trading platform. Trading is accessible on all major web browsers so there is no need to download. It is simple to use and has a friendly interface. The platform is suitable for both novice and experienced traders. However, it lacks sophisticated and advanced tools. Particularly, the platform lacks technical features such as indicators and charting tools that are common on other platforms.

It is important to note that MetaTrader 4 and 5 are not third-party platforms.

Videforex proprietary trading platform

Products

Clients have access to over 100 assets in these markets through the broker:

CFDs and Options on:

  • Goods Gold and Silver
  • Crypto – 13 crypto pairs, including LTC, ETH, and BTC
  • Indices Seven global indices, including USA100 and UK100.
  • Stocks: Options on four German stocks, including BMW and Lufthansa

There are 48 forex pairs, including EUR/USD and GBP/USD.

Spreads and Commission

Spreads of Videforex are subject to fluctuation and can vary from instrument to instrument.

For opening a cash cryptocurrency CFD position, the broker may charge a commission up to 2.5%. A maximum commission fee for leveraged cryptocurrency positions is 5%. For overnight trades, there is an additional swap fee of 0.077% of the position’s face value. If clients fail to complete at least one trade in a given time, a $10 monthly inactivity fee is charged.

Videforex leverage

Videforex allows you to trade with a maximum leverage ratio of 1:100. This can vary depending on the instrument. To avoid large losses, traders should use risk management strategies when trading leverage. Retail traders are subject to a maintenance margin call. The broker will close your account if the account equity falls below 5% of the initial investment. This protects traders from losing more money than they deposit, but can lead to profitability problems in volatile markets.

Mobile trading

Videforex provides a mobile app as part of its proprietary software. The app is free to download for both Android and iOS devices. It allows you to manage your account and trade on the move. The app includes:

  • Live graphics
  • Complete range of assets
  • View trading history
  • Copy trading
  • Instant trade execution
  • Access to all the tools and resources on the desktop platform

Videforex mobile trading application

Payment methods

Deposit

Videforex’s minimum deposit requirements differ by type. The minimum deposit required for a Bronze account is $250. Although the broker doesn’t charge an account funding fee for opening an account, third-party fees might apply. Customers can use the following deposit methods, which allow for instant processing and do not require deposit fees.

  • Skrill
  • Bitcoin
  • neteller
  • Transfer to the bank
  • Alternative cryptocurrencies

PerfectMoney can be used with a processing time up to one hour and without a fee. With a 5% fee, credit/debit card deposits (VISA or MasterCard) will be processed immediately.

Videforex Withdrawals

Videforex charges no fees for withdrawals. Withdrawals are allowed up to US$50, or the equivalent in currency. Each request requires identification. All payment methods are processed quickly and can be guaranteed to be completed within one hour.

There are certain withdrawal conditions. Before a withdrawal can be allowed, accounts without bonuses must have a 100% turnover of the initial deposit amount. A bonus account must have a turnover limit of 300% before you can withdraw.

Demo account

Videforex provides a demo account for traders to test their trading skills. Demo credentials can only be obtained if you have an account funded. Demo accounts can be used to familiarize yourself with the platform and try out risk-free trading strategies.

Promotions and offers

Videforex offers a variety of bonuses and promotions

  • Get Freebies. To be included in the draw, enter the promo code and fund you trading account. The deposit amount will determine the prize.
  • Trading Contests Videforex hosts a weekly contest with a prize pool up to $20,000, based on trading volume. All trading accounts automatically enter the contest.
  • Referral Program– Traders are able to invite their family and friends, and they will be rewarded with 20% of the deposit amount.

Regulation and licensing

Videforex does not have a financial regulator. The Marshall Islands is where the company is licensed. This country is known for its offshore trading and lack regulation. Trader who make deposits to an unregulated broker are doing so at their own risk. Financial service providers in the UK must be regulated and supervised by the Financial Conduct Authority (FCA). Clearing services, segregation of client funds and protection against negative balances are not guaranteed.

Additional features

We were disappointed to find that Videforex had very few additional features for traders. The broker’s website contains a basic trading tutorial. Topics include how to trade CFDs, and how to use binary options. The majority of good brokers do not provide trading updates, an economic calendar, or live market news streams.

Types of accounts

Videforex has three account options: Bronze, Silver, and Gold. All accounts have 24/7 support via live video chat, copy trading tools, and quick withdrawals. Accounts with Silver or Gold status also get the risk-free trades. If negative trading results occur, a trading bonus is offered. Based on the initial deposit, bonus opportunities are increased. These accounts are available to UK customers:

  • Bronze Deposit between $250-$1000. +20% Bonus Opportunity
  • Silver Deposit between $1000-$3000 and receive a 50% bonus
  • Gold Deposit between $3,000 and $50,000 + 100% Bonus Opportunity, Access to a Personal Success Manager

UK customers need to complete an online registration form in order to open an account. This requires proof of residency and identification documents. When creating an account, traders must choose GBP to be their base currency.

Benefits

  • demo account
  • Chat live 24/7
  • Weekend Trading Opportunities in Cryptocurrency Assets
  • Accepted Cryptocurrency Deposits
  • Bonus Opportunities
  • One hour processing guarantee

Advantages

  • Unregulated despite homepage claims
  • New traders must deposit a high minimum amount
  • Withdrawals are subject to turnover requirements
  • There are limited additional features, such as an economic calendar and live market news.

Hours of operation

Videforex operates between standard business hours and 24 hours, Monday through Friday. On cryptocurrencies, weekend trading is possible. The trading hours for each instrument vary and can be found on the trading platform.

Contact details

Videforex provides a variety of customer support options to UK clients.

  • Online contact form
  • Chat live 24/7
  • Request for Return
  • English phone number – +1-829-9476393

A FAQ section is also available on the Videforex website. These topics include trading tips, account registration, and account features.

Videforex Safety

Password protection is required to gain access to the customer portal. Videforex offers 3D secure code payment authentication as well as VISA insurance for all deposits. All data are protected by SSL certificates that have 256-bit encryption.

Do you want to trade with Videforex

Videforex offers limited day trading opportunities. The website of the broker is quite basic, and traders can expect similar functionality from the platform. It is alarming that traders can deposit their money without being regulated by any financial institution. Videforex offers strong benefits such as weekend trading, guaranteed 1-hour withdrawal processing times, and supported cryptocurrency payment methods including Bitcoin.

FAQ & Common questions

Videforex scam or legit?

Videforex does not appear to be a fraud. The broker is not licensed by any reputable authority, so UK traders must deposit at their own risk.

What is Videforex’s minimum deposit requirement?

Videforex requires a minimum deposit of $250 to open a real account.

Does Videforex offer a demo account?

Yes, Videforex offers a demo account. Before demo account credentials can be provided, registration is required.

What trading platforms does Videforex provide?

Videforex offers trading opportunities for retail clients via its web-trader platform and mobile application. It is simple to use and has simple navigation.

What account types is Videforex available?

Videforex offers three types of live accounts: Bronze, Silver, and Gold. There are different bonus options and minimum deposit requirements.