Videforex

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Videforex Review

  • Excellent customer service
  • Attractive bonuses
  • Wide range of financial assets
  • Well designed and easy to use trading platform
  • Basic trading platform
  • Poor trading conditions/high fees
  • Not regulated

VideForex is an online CFD and binary options trading brokerage that was established in 2016 and is based out of Seychelles. The brokerage is owned and operated by a company called Vide Projects Ltd. which is a division of a much larger company called Financial Group Corp, who owns and operates numerous online trading brokerage companies in the Seychelles.

Therefore, this company has a substantial presence in the financial markets and continues to offer reputable online trading services. VideForex is a registered company with Seychelles authorities under registration number 114612, but they remain unregulated which is why they do not accept traders from the US and some parts of Europe and Asia. However, VideForex is still an international trading brokerage and offers their services in the English, Russian, Spanish, French, Dutch, and Thai languages.

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VideForex really does strive to accommodate all types of traders from all over the world and has a welcoming approach to attracting new traders to their platform. As far as we know, VideForex is the only online trading brokerage who greets you with a live video stream with one of their support representatives ready to answer any questions you have and to help you through the process of signing up and creating your account. While this is a welcoming feature, does VideForex offer competent services, or are they viewed as a scam? In the following review we delve deep into the aspects that make up this online trading brokerage and see what sets VideForex apart from the competition and whether or not they can be trusted.

Exchange Platform

VideForex features their very own proprietary web-based trading platform. While many traders prefer the popular and familiar trading platforms, the VideForex platform is actually quite impressive. The platform utilizes bespoke trading software and is intuitively designed and easy to use. Right off the bat, it’s easy to see that the platform was built and designed for beginner traders due to its simplicity and lack of advanced features that many other popular trading platforms have. We believe, VideForex went this route because the binary options market is easy for even novice traders to jump in and understand. While the platform is not very advanced, if operates very smoothly and features everything a novice trader needs to competently trade CFDs and binary options. As well, the VideForex platform is mobile friendly on both Apple and Android devices through the mobiles web interface.

Exchange Markets

VideForex features an impressive list of financial instruments to trade across various markets. Traders have a choice of over 160 financial assets to trade through CFDs and Forex. Traders have access to wide array of major, minor, and exotic currency pairs as well as numerous stocks, indices, commodities, and even a selection of the most popular cryptocurrencies. All these assets are traded on Contracts For Differences (CFDs) between traders, or in times of low liquidity the brokerage absorbs the opposite ends of trades.

Fees

Unfortunately, VideForex does not clearly state the associated fees with trading with them. However, we do know that VideForex is a market maker broker that does not have the best reputation for favourable trading conditions. Traders can trade with a maximum leverage of 1:100 and spreads are quite high, ranging from around 3 to 5 pips for major currency pairs and even higher for others. VideForex makes their money from these very high spreads as they are not favourable for the trader. Minimum investments per trade are only $1 and must initially deposit a minimum of $250 to open an account.

Security and Fairness

As mentioned before, VideForex is not regulated by any reputable regulatory authorities. This poses some security risks for traders as they are not protected by regulations. However, VideForex boasts they ensure 100% secured trading with full data protection. As for user fairness, all traders no matter which account type, have access to the same financial instruments available to trade. VideForex does offer three different account types; Bronze, Silver, and Gold. Each account is relatively the same by offering all the same standard features, but higher accounts offer better bonuses or premium features such as a personal success manager.

Support

One area VideForex really stands out from the competition is their level of customer service. As soon as a new user goes to the VideForex website they are greeted with a live video stream where they can chat with a customer service representative. This live video chat service is available 24/7 and is accompanied with a contact telephone number and contact web form via email. The support representatives are very friendly and professional and helpful with their responses. An additional method of support is through the websites FAQ page, where traders will find answers to all standard questions.

Conclusion

All in all, VideForex is a competent forex, CFDs, and binary options trading brokerage with a wide variety of financial instruments and assets to choose from. The trading platform is well designed, but clearly meant for beginner traders rather than experienced and advanced traders. The level of customer support is what makes this broker stand out from the rest, but their high trading fees and lack of regulation are their negative points. However, VideForex could be an excellent trading brokerage for beginner to intermediate trader’s dues to their customer support and trading platform.

VideForex FAQ

Here are some of the most common questions that are asked about VideForex crypto trading service.

Is VideForex regulated?

No. VideForex is not regulated.

Where is VideForex based?

VideForex is based out of Seychelles.

How does VideForex make money?

VideForex makes money on the spread & other fees which are not stated.

How do I deposit in VideForex account?

VideForex accepts cryptocurrency deposits, Visa, Mastercard, Neteller, Skrill, and Perfect money.

How do I withdraw money from VideForex?

You can withdraw from VideForex through the same methods as deposits plus through OkPay and Qiwi wallet.

Can I trade on VideForex with my mobile device?

Yes, you can use your mobile device to trade through the web browser.

Is VideForex reliable?

VideForex has proven to be a reliable and trusted exchange that has yet to be hacked.

Is VideForex a scam?

No. VideForex is a legit exchange and is not a scam.

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Videforex Reviews by Traders
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1 2 3 4 5 6 7 8 9 10
arthurinlow
1 reviews
Review date 23/05/2019
1 2 3 4 5 6 7 8 9 10
Great support, quick withdrawal
No CONS!
Vogue_Italia
90 reviews
Review date 17/06/2018
1 2 3 4 5 6 7 8 9 10
VideForex has a strong range of assets as well as great customer service.
VideForex has a platform that is too basic for serious traders.
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