Videforex Review 2024 A Look at Videforex’s Unique Platform
One of the standout features of Videforex is their remarkably polite and fast customer service. Whenever I had a query or needed assistance, their online or email support team was quick to respond, and their professionalism was truly commendable. It’s reassuring to know that your concerns will be addressed promptly. The personal managers at Videforex are a true asset to the platform.
TRADE QUICK OPTIONS
If the service is temporarily unavailable, this could delay entering at the desired price. Importantly, withdrawals can be processed within an hour if a customer’s ID check has been completed. While VideForex is primarily geared towards servicing novice traders, they do offer three different account types that reward traders who make larger deposit amounts. Videforex offers 3 live account types; Bronze, Silver, and Gold. Videforex stands out with its comprehensive and user-friendly mobile trading solution, offering short-term binaries across a wide range of assets.
Trading Costs
I recently tried out this online broker and it was a bit of a mixed bag. On the plus side, the price feeds were always up-to-date, which is crucial for trading. And being able to deposit and withdraw funds directly through the app was super convenient. https://traderoom.info/videforex-a-reliable-broker/ Although the interface took some getting used to, it wasn’t very intuitive or user-friendly compared to other trading platforms I’ve used. There was definitely a learning curve to figure out where everything was and how to place orders efficiently.
Terrible trading platform
Their guidance and support have played a significant role in my trading journey. I highly recommend giving Videforex a try to experience these benefits firsthand. We found the charting options to be quite limited, along with the availability of binary options trading that may confuse traders. Therefore, VideForex’s strategy of offering a Forex and CFD trading platform through its proprietary binary options platform may not be viable for the long term. Videforex may be more suitable for experienced and successful traders, thanks to the high minimum deposit, and lack of education and guidance.
Nonetheless, this worldwide brokerage firm’s services are banned in the United States and a few Asian and European areas. VideForex is a registered financial company in Seychelles, but there is no information about its regulatory status with the Seychelles Financial Services Authority. On the contrary, some of the other FGC entities have branches in the UK and other EU nations, which means that there is a reason to trust the broker for offering a legitimate brokerage service. We only recommend trading with an authorised company, and we would not endorse any broker that does not provide a registered address and proof of regulation.
- Investing.co.uk has been helping British traders find the right broker for over 20 years.
- Accounts without a bonus must achieve a 100% turnover on the initial deposited amount before a withdrawal is permitted.
- Leveraged products, such as Forex, increases the potential profits of the trader, but it also increases the risks and subsequent losses that the trader may incur.
- Regarding payment methods, Videforex does not charge extra fees in the case of digital currency deposits, but there is a 5% transfer fee for Visa and MasterCard payments.
- VideForex must make a few adjustments and improve its products to offer a better brokerage platform.
- The demo account may only be used when a $250 deposit has been made.
An excellent platform
VideForex is one of the first brokerage service providers in the industry to implement the video chat feature. Traders report having had a great time interacting with the broker through this feature. VideForex is a new brokerage company that offers Forex and CFDs alongside binary options and other products. The Scotland-based broker was launched in 2017 and is a subsidiary of the Financial Group Corp (FGC).
To win a prize, traders are required to activate the giveaway in the ‘My Promotions’ section after funding their trading accounts. The promotion is only valid for the month of October and ends October 31 at 23H59 GMT with the draw taking place on November 5 at 10H00 GMT. When requesting a withdrawal, traders are required to provide identification every time they request a withdrawal, regardless of the amount. Unfortunately, https://traderoom.info/ is not currently regulated by any reputable legal and financial bodies like the FCA. A few negative reviews have also been reported as well as some customers referencing withdrawal issues. Although Videforex does not charge maintenance or registration fees when signing up, the broker’s user agreement states that the client (trader) must also pay any withdrawal fee that the firm may incur.
As a trader, you are required to use comprehensive trading tools to increase your chances of winning a trade. As an advanced trading tool, it deprives traders of the opportunity to augment their trading capabilities. Videforex has a plethora of benefits along with impressive features. Even though you are a day trader, CFD trader, or binary options trader, you can choose Videforex for a successful career. To assist in their trading endeavors, brokers offer traders a variety of trading tools that can be used to refine their trading. Credit cards (VISA/MasterCard), bank wire transfers, Bitcoin, Ethereum, Lite coin, Altcoins, Neteller, Skrill, and Perfect Money are all options for funding & withdrawing your account.
Regarding payment methods, Videforex does not charge extra fees in the case of digital currency deposits, but there is a 5% transfer fee for Visa and MasterCard payments. This payment structure also applies when you want to withdraw money, and the withdrawal request for your own money is guaranteed in one hour. The fastest withdrawal processing I’ve experienced is Videforex’s guaranteed payouts within 1 hour after settling trades.
The minimum deposit requirement to open a live account with Videforex is $250 or equivalent currency for the Bronze account. However, the broker is not regulated by a reputable authority and therefore UK traders deposit at their own risk. Accounts without a bonus must achieve a 100% turnover on the initial deposited amount before a withdrawal is permitted. Accounts with a bonus are subject to a 300% turnover cap before a withdrawal is allowed.
At first I have been provided with useful information how to deposit and start trading. VIDEFOREX will welcome you with a discount code that will allow you to make 3 to 5 risk-free trades. Depending on the time restriction offered to you, they normally expire after 45 minutes or an hour. Depending on their account type, users will receive a 20%, 50%, or 100% trading bonus.
This trading broker is considered the best for beginners, but professional traders also like using this broker. Videforex still isn’t responding to the request to withdraw my money and pay the 20% commission. They have told me that I have a required turnover on bonus but I didn’t accept any bonus.
Nevertheless, with practice and trading experience, traders should be able to choose their preferred instruments. Professional traders could deposit in excess of $1,000 to open a Silver account. This comes with a master class (web session) included, while the gold account features include a personal success manager, as long as you deposit more than $3,000. In addition to bonuses, VideForex offers a weekly trading contest that offers a total prize fund of $20,000 which is distributed among 20 total winners.
We do not provide financial advice, offer or make solicitation of any investments. VideForex is not a regulated entity, unlike the advertisements made on their website. Several local laws and regulations in countries such as the USA, parts of Asia, and EU member nations may prevent VideForex from operating in these areas. Therefore, there are a few regulatory concerns and hurdles while trading with VideForex. Dealing with unregulated brokers can be very risky because there isn’t a regulatory authority to hold them accountable.
There is no information pertaining to the spreads that can be expected when trading with Videforex. Videforex warns that margin trading involves the potential for profit as well as the risk of loss. Apart from this, there are no other tools or resources provided.