Evaluation of Videforex
Trading options, foreign currency, and contracts for difference are Videforex’s primary areas of expertise as an online broker. Through the use of their own trading program, customers have access to more than 100 different assets. In this article, we will conduct a study of Videforex’s broker, which will cover topics like as their account registration process, login procedure, and spread offering. In addition, we investigated the capabilities of their platform as well as their mobile applications.
The latest news from Videforex
INVOLVA CORP, a business headquartered in the Marshall Islands, established Videforex in the year 2016. The broker is not registered with any of the governing or financial bodies in the industry.
Trading Platform Provided by Videforex
The web-based trading platform that Videforex offers to its customers is accessible over the web. Because trading can be done in all of the major online browsers, there is no need to download any software. It boasts a user-friendly design and is straightforward to operate. The trading platform can accommodate both inexperienced and seasoned investors equally well. On the other hand, it does not have any sophisticated or advanced tools. In particular, the site lacks technical capabilities that are popular on other platforms, such as indicators and charting tools.
It is essential to emphasize that MetaTrader 4 and 5 are not platforms developed by a third party.
Custom trading platform developed by Videforex
Products
Through the broker, customers have access to more than one hundred different assets in various markets:
CFDs and Options on the Following:
• Gold and silver-based Merchandise
• Crypto – thirteen different cryptocurrency pairs, such as LTC, ETH, and BTC
• Indices There are seven different international indices, including the USA100 and the UK100.
Options on four different German stocks, including BMW and Lufthansa, are included in the stock portfolio.
There are 48 different currency pairs available on the forex market, including EUR/USD and GBP/USD.
Both the Spread and the Commission
Spreads on Videforex are subject to change, and the range of possible spreads varies depending on the asset being traded.
There is a possibility that the broker will impose a commission of up to 2.5% in order to initiate a cash cryptocurrency CFD position. The maximum percentage that can be charged as a commission for leveraged cryptocurrency positions is 5%. An additional swap fee equal to 0.077% of the position’s face value is charged for trades that are executed overnight. A monthly inactivity fee of $10 will be assessed to customers who do not execute at least one trade within a specified period of time.
Videforex leverage
You have the ability to trade with a maximum leverage ratio of 1:100 when using Videforex. This is something that might change based on the instrument being used. When trading with leverage, traders should employ risk management measures in order to reduce the likelihood of suffering significant losses. Maintaining one’s margin requirements is a need for retail traders. In the event that the equity in your account drops to less than 5% of the initial investment, the broker is going to cancel your account. Traders are protected from losing more money than they initially deposited, however this strategy may provide problems with profitability in highly volatile markets.
Mobile trading
As part of its proprietary software, Videforex offers a mobile application to its customers. Downloading the software does not cost anything, and it is available for both Android and iOS smartphones. It enables you to manage your account and trade while you are away from your computer. This application features:
• Graphics in real time
• Comprehensive inventory of available assets
• View the record of past transactions
• Trading by imitation
• Instant trade execution
• Availability of all of the tools and resources available on the desktop platform
Mobile trading application developed by Videforex
Payment mechanisms
Deposit
The minimum deposit required varies depending on the account type on Videforex. To open a Bronze account, you will need to make a minimum deposit of $250. Even though the broker does not charge a fee to open an account, there is still a possibility that third-party fees will be incurred. Customers have access to the following deposit options, each of which enables rapid processing and does not charge customers any fees for making deposits.
• Skrill
• Bitcoin
• neteller
• Make a deposit at the bank.
• Cryptocurrencies that are not Bitcoin or Ethereum
You won’t be charged a fee to use PerfectMoney, and the transaction can be completed in as little as an hour. Deposits made with credit or debit cards (VISA or MasterCard) will be processed instantly, however a fee of 5% will apply.
Withdrawals from Videforex.
Withdrawals from Videforex are completely free of charge. Withdrawals of up to fifty dollars (US) or their equivalent in another currency are permitted. Each request requires identification. Regardless of the mode of payment, your transaction will be handled promptly and will definitely be finished within the hour.
There are various requirements in order to withdraw. Accounts that do not receive bonuses are required to have a turnover of the initial deposit amount that is equal to 100% before withdrawals can be processed. Before you are allowed to withdraw money from a bonus account, the account must first meet a turnover requirement of 300%.
Demo account
Videforex gives traders the opportunity to practice their trading skills through the use of a demo account. Demo credentials can only be acquired when an account has been paid with real money. Demo accounts are a great way to become accustomed to the platform and experiment with different trading methods without the danger of losing any money.
Deals and specials to be had
There is a diverse selection of incentives and special deals available with Videforex.
• Get Freebies. Enter the promotion code and make a deposit into your trading account to be eligible for the draw. The size of the award will be based on the amount of the deposit.
• Competitions in the Market A weekly contest that has a prize pool that can reach up to $20,000 and is dependent on trading volume is held by Videforex. Each and every trading account is entered into the competition automatically.
• Referral Program: Traders can recommend their family and friends to participate in the program, and if they do, they will receive a reward equal to 20% of the amount that their referrals deposit.
Regulation and granting of licenses
Videforex does not have a financial regulator. The Marshall Islands are the location where the business’s license was issued. This nation is well-known for its lack of regulations and offshore trading opportunities. Traders who use an unregulated broker run the risk of losing their money if they fund their accounts with that broker. The Financial Conduct Authority is responsible for regulating and supervising all financial service providers in the United Kingdom (FCA). It is not guaranteed that clearing services, the segregation of customer funds, or protection against negative balances will be provided.
Added benefits and capabilities
When we saw that Videforex only offered a limited number of additional services for traders, we were dismayed. A beginner’s trading instruction can be found on the website of the firm. The course covers a variety of topics, such as how to trade CFDs and how to use binary options. Trading updates, an economic calendar, and live market news broadcasts are not often offered by the vast majority of reputable brokers.
Different kinds of accounts
Bronze, silver, and gold are the three tiers of accounts available through Videforex. Every account comes equipped with copy trading tools, support available around the clock via live video chat, and fast withdrawals. Risk-free trades are also available to accounts that have achieved Silver or Gold status. A trading incentive is provided even in the event of unfavorable results in the market. The size of the player’s first deposit determines the number of bonus opportunities available. Customers in the UK have access to several types of accounts:
• Bronze Deposit between $250-$1000. +20% Bonus Opportunity
• Silver Make a deposit between $1,000 and $3,000 and get a bonus of 50 percent.
• Gold Deposit between $3,000 and $50,000, plus the Opportunity to Receive a 100% Bonus, and Access to a Personal Success Manager
In order to open an account, consumers located in the UK are required to fill out an online registration form. Documents proving one’s identity as well as one’s residency are required for this. When opening an account, traders are required to select British pounds (GBP) as their base currency.
Benefits
• demo account
• Live chat available around the clock
• Trading Opportunities in Cryptocurrency Assets Available Over the Weekend
• Deposits Made Using Accepted Cryptocurrencies
• Bonus Opportunities
• A promise of service within an hour
Advantages
• Unregulated despite assertions made on the homepage
• New investors are required to make a substantial initial deposit.
• Withdrawals are subject to the conditions for the turnover of funds.
• There are some extra features, such as a live market news feed and an economic calendar, but these are the only ones available.
When we’re open and closed
Videforex is open from the typical start of a business day until the end of it, 24 hours a day, Monday through Friday. Trading in cryptocurrency might take place over the weekends. The hours of trading that are available for each instrument are listed on the trading site and can vary.
Contact details
Videforex offers its UK customers a range of different customer service channels to choose from.
• A web-based form for making contact
• Live chat available around the clock
• Request for Return
• The phone number to call in English is +1-829-9476393
On the website of Videforex, one may also find a section devoted to frequently asked questions. Trading advice, account registration, and account features are included in these areas of discussion.
Videforex Safety
Access to the customer portal is guarded by a password prompting system that must be used. Videforex provides 3D secure code authentication for financial transactions, in addition to VISA insurance coverage for all deposits. SSL certificates that utilize 256-bit encryption are used to safeguard every piece of data.
Do you intend to engage in business with Videforex?
There are a few day trading opportunities available with Videforex. The broker’s website is rather straightforward, therefore traders should anticipate that the platform will also offer functionalities of a similar nature. It is concerning that speculators are able to deposit their funds without being subject to the oversight of any financial institution. Videforex provides numerous advantages, such as trading on weekends, withdrawal processing times that are guaranteed to take no longer than an hour, and support for cryptocurrency payment options, including Bitcoin.
FAQ & Common questions
Videforex fraud or legit?
It would appear that Videforex is not a fraudulent company. Because the broker does not hold a license issued by any regulatory body of any renown, traders in the UK are required to make deposits at their own discretion.
What is Videforex’s minimum deposit requirement?
In order to open a real account with Videforex, a minimum deposit of $250 is required.
Is a demo account available with Videforex?
A demo version of the platform can be accessed through Videforex. Registration is necessary in order to obtain the necessary credentials for a demo account.
Which trading platforms are made available to customers by Videforex?
Retail customers get access to trading opportunities on Videforex using the company’s web-trader platform as well as its mobile application. It is easy to use, and navigating it is very straightforward.
What kinds of accounts does Videforex provide its customers?
Bronze, silver, and gold are the names of the several types of live accounts that may be opened with Videforex. There are a variety of bonus options, each with their own required minimum deposit amount.