12341
4.0 / 5
Rating of the Binaryoptions.com team
Deposit
4.0
Withdrawal
4.0
Offers
4.0
Support
4.0
Platform
4.0
Return

Videforex binary broker test – Scam or not?

  • High payouts
  • Free bonuses
  • 24/7 support
  • Return: 90$+
(Risk warning: Trading involves risk)

In recent years, trading activities have gained a lot of momentum. With the evolving landscape and new-age technology promoting more competent trades, the number of traders is increasing continuously. This growth is primarily attributed to an increase in a good amount of brokers in the online trading market space. 

However, before you step into the world of Forex and binary trading, choosing the right online broker is of utmost importance. This is because the brokerage you choose has a profound impact on determining your trading success. 

If you are looking for a reputable brokerage platform that facilitates a smooth and safe trading experience, Videforex is an excellent choice. It is overall the best pick for beginners as well as experienced traders. This article will have an in-depth insight into VideForex’s online trading brokerage and its several associated aspects. 

About VideForex 

Incepted in the year 2016, Videforex is a popular CFD, Forex, and binary options broker owned and operated by Vide Projects Ltd., a subsidiary of international financial services company – Financial Group Corp. 

Despite being a relatively new entrant in the trading industry, Videforex had established a name for itself. It offers traders an opportunity to trade on several dozens of financial instruments. The company headquarter is in Edinburgh, Scotland, and is renowned internationally for offering competent trading services.

 The Videforex trading platform is designed to meet the needs of investors and traders of all levels from all over the world. Nevertheless, the services of this international brokerage firm are not accessible to the US and few regions of Asia and Europe.

Meanwhile, to assist its clients from countries where its services are available, Videforex extends support and assistance in multiple languages comprising English, Spanish, Thai, Dutch, Russian, and French. 

VideForex Trading Platform

Videforex has its own proprietary trading platform, which is accessible via all three modes, including PC, Android, and iPhone. For both Binary options and CFD, Videforex offer advanced trading features and functionalities. 

As you begin to use it, you will discover that it is well-designed to facilitate easy navigation, thereby making it suitable for novice traders as well. In addition, the platform features a simple and intuitive interface that competently incorporates all elements needed to trade Binary Options and CFDs seamlessly. 

Moreover, the platform comes loaded with all necessary charting attributes to help traders perform technical analysis using charts, indicators, and time frames. Overall, the Videforex platform is an excellent choice for investors willing to step into Binary Options or CFD trading. 

VideForex Mobile App

To promote on-the-go use of trading services, Videforex comes with a dedicated mobile app. Users can download its trading app through Google’s Play Store or Apple’s app store, based on their operating system. The mobile version of the app allows traders the flexibility to trade from anywhere. Also, it keeps you updated with news surrounding financial markets with its real-time feeds. However, if you do not prefer to use a mobile app, you can go for the web-based platform, which is also mobile-friendly, relatively easy, and convenient to use. 

VideForex Fees – Commission or Brokerage Charge

Commission or brokerage charge is the fee you pay on the sell/purchase of an asset. Being a trusted platform, Videforex levies a convenient commission charge. This charge can be perceived as a trading fee that you pay to the broker for extending trading services through their platform. Generally, Videforex utilizes a spread to charge traders. The spread is subject to vary depending on specific instruments, external market factors, and liquidity. 

Even though Videforex does not charge the lowest fee, it does not mean that it is exorbitantly expensive. Choosing a broker whose fees are either too low or too expensive is not a good idea. This is because the one who charges high may sting your profits, and the one who charges too low may not offer you reliable and speedy services. 

Minimum Deposit

To get started with trading, Videforex requires a minimum deposit of $250. This nominal deposit opens doors for traders to access their accounts and begin trading with as low as $1. Want more? The platform also offers a 100% deposit bonus on your first deposit. However, it is advisable to read its terms and conditions thoroughly before using it. One thing to be noted here is that regardless of what you trade – binary options, Forex, or CFDs, the minimum initial deposit amount will remain the same. 

Leverage or Exposure

Videforex offers its clients the provision of leveraged trading. This trading mechanism lets traders borrow capital from the broker in order to improve their buying potential. With Videforex, traders can avail a maximum leverage factor of 1:100. This factor is the number of times your buying power will be multiplied. The notable benefit of leverage is that it augments your profit-earning potential. But it doesn’t mean it’s risk-proof. If you fail to provide accurate predictions, you may face heavy losses. 

Also, the fee charged on trading leveraged assets is higher than the fee charged on un-leveraged assets. For example, on un-leveraged CFD assets, Videforex levies a fee of around 1 – 2.5% of the transaction. Whereas on leveraged CFD assets, the fee could go up to 5%.

Payment Methods Supported by VideForex

Videforex facilitates easy money deposits and withdrawals. Traders can execute transactions from anywhere in the world. The platform has recently started supporting digital currencies to make it convenient for traders to use different payment options. The payment options supported by Videforex include: 

  • Credit cards (VISA/MasterCard).
  • Bank wire transfer
  • Bitcoin
  • Litecoin
  • Altcoins
  • Ethereum
  • Skrill
  • Neteller
  • Perfect Money

Asset Classes Offered by VideForex

In regards to asset classes offered, Videforex is considered one of the best brokers. It allows investors to try their hands on a myriad of underlying assets, which include:

  • 80 stocks types. 
  • Nine different commodities. 
  • 15 Currency pairs. 
  • 13 Types of market indices. 

It is worth noting that despite being new to the market, Videforex offers an expansive range of assets classes to trade on. With this, it is clearly evident that the company is trying its best to gain a strong foothold in the competitive Forex and binary options trading industry. All-in-all, when it comes to financial assets, Videforex is a standout option. 

 Videforex Demo Account

A demo trading account provides you a real-time experience of live trading and market conditions. Therefore, it helps you with better execution. After you deposit the minimum initial amount, your Videforex account gets activated. Then, using the simulated money, you get the hands-on experience that helps you with strategy development and understanding market conditions. Once you are confident trading with a demo account, you can start investing the real money. Hence, using Videforex’s practice account is one of the best ways to maximize your profit-earning potential. 

How to Open an Account on VideForex? 

Opening a trading account on the Videforex platform is super easy. All you need to do is to furnish your personal details, which require hardly a few minutes. Once all details are completed, you will access your account and the necessary trading tools. Next, you need to head to the navigation tab to meet registration requirements. 

How to Use VideForex Trading App?

The Videforex application comes with a user-friendly interface that makes it easy for investors and traders to use the app without any hassle. Moreover, its compatibility with different devices further adds to the convenience.

Given below are basic steps involved in using the Videforex application effortlessly: 

Step #1

Firstly, you need to create an account on the Videforex app by furnishing some basic details. Remember, for opening a trading account; you may be required to fulfill certain guidelines. So, make sure you go through all such terms beforehand only. 

Step #2

Once the registration is complete, you will get a confirmation message on your mobile phone. In addition, to guarantee, traders require login details to track their performances. 

Step #3

After login, you will get access to several features and tools. To begin trading, complete the initial deposit process. Then, go to the trading center, select your preferred payment option to deposit funds. 

Step #4

After funding your account, you can search for security, place orders, and use multiple tools for analysis. 

Account Types Available on Videforex

For an enhanced convenience to users, Videforex offers its services through different packages that are accessible through three distinct account types. The capital you deposit will also depend on the account type you qualify for. 

Account types available on Videforex are:

#1 Bronze

Under this account type, you need a capital deposit of $250. Apart from offering access to some basic features, the various other benefits you get with this account include:

  • Instant withdrawals within one hour. 
  • 24/7 live video chat support. 
  • A practice account for a real-time experience. 
  • Copy-trading tools. 

#2 Silver

This account requires a minimum capital deposit of $1000. Then, it provides you all Bronze benefits, in addition to personal success manager and master class web sessions. To sum up, the benefits you get with a silver account include:

  • 24/7 live video chat support.
  • A practice account for a real-time experience. 
  • Copy-trading tools. 
  • Instant withdrawals within one hour. 
  • First three risk-free trades. 

#3 Gold

Under this account, you need to make a minimum initial deposit of $3000. Besides, you get all benefits and features of a silver account, in addition to a 100% bonus amount. Here is a list of all benefits you get with a Videforex Gold account:

  • Access to a Swiss prepaid card.
  • Individual account manager. 
  • A practice account for a real-time experience. 
  • Copy-trading tools. 
  • Instant withdrawals within one hour. 
  • First three risk-free trades. 
  • Instant withdrawals within one hour. 
  • 24/7 live video chat support. 
  • Master class web sessions. 

Thus, it is clearly visible, the higher you invest, the more trading features you get. And if you have access to more advanced features and tools, your chances of success increase. 

Videforex Features

The Videforex app allows trading CFDs as well as Forex products. Apart from facilitating trading activities, the platform offers you access to the latest features and tools that assist you in better market analysis. As such, Videforex is a complete package that simplifies trading while helping you improve your overall performance. 

Given below are the standard features that you get with the Videforex application:

·        Dashboard

A dashboard is the first thing that defines our experience with an application. It provides a quick view of all elements needed for smooth and seamless navigation. The videforex application is distinguishable for its clean and interactive dashboard.

Featuring search, home screen and order book, and other important features, it helps traders access and uses data more instantly. Moreover, it offers real-time updates on currencies and their changing prices. Ideally, the Videforex dashboard has everything to ensure fast and efficient trading. 

·        Charts and order

With Videforex, you can’t miss even a single movement. The platform is laced with essential charting and order features to help you monitor real-time price movements. The ultimate aim is to keep users updated with related data in a timely manner. Also, you can review your currency pairs with a single click. 

·        Safety & Security

Considering the rapid increase in online frauds and scams, selecting a broker who ensures privacy to your confidential data is of utmost importance. Thanks to Videoforex’s advanced safety protocols. The high-end safety features offered by its platform guarantee 100% trading security and protection of your personal information. It sticks to stringent security standards to help its customers stay away from security breaches and online frauds. 

·        Regulation & License

You have to make sure that your chosen broker is trusted and does not suffer from bad press. Well, Videforex complies with all financial regulatory standards. Furthermore, it is not restricted to any specific region’s regulations. For example, the company has received authorization from the Finance Group Corp, located in Vanuatu. And the one thing to note here is that unlike the majority of US brokers, Videforex does not fall under the regulatory umbrella of the Commodity Futures Trading Commission (CFTC). 

Videforex Benefits

In addition to offering several features, Videoforex benefits its users in a plethora of ways. No matter whether you want to try your hands at day trading, binary options, or CFDs, choosing Videforex as your broker comes with several benefits, which include:

·        Accessibility

Videforex has a global outreach. Except for the USA, its services are available to traders all around the world. 

·        Small Minimum Trade Size

Videoforex allows you to place trades with just $1. This is a favorable option for newbies and investors with low funds. 

·        Unlimited Trading 

Trade as and when you want – throughout the year, even on weekends. This is the best option for traders who are often too busy and need to fit their schedules according to their needs. 

·        Multiple Funding Options

Videforex platform comes with various payment options ranging from a credit card to cryptocurrencies. Thus, you have the flexibility to select any payment method as per your need. 

·        Effective Customer Support

Videforex is known for its prompt and professional customer service. It offers round-the-clock multi-lingual support. This is something that distinguishes it from the other brokers in the industry. In trading, even a second matter, so getting your queries resolved instantly is a benefit. 

·        Withdrawal Speed

Videoforex comes with the fastest withdrawal speed. For day trading, your profit withdrawal requests are processed within one hour. Thus, you can rest assured that your funds will be transferred smoothly and speedily. 

·        Trading Contests

One of the most exciting things about Videforex is that it offers weekly contests for traders. Not only do these contests help you get hands-on experience, but they also bring attractive cash rewards. These contests are open to both beginners as well as experienced and have a prize fund of around $20 000.

Videforex Drawbacks

Though Videforex has numerous standout features, there are certain disadvantages associated with it. These include: 

·        Web-Based Limitations

Day trading on Videforex gets a bit sophisticated as it limits you to just a web-based platform. That is, all trades must be executed only through its website. In contrast to this, other brokers permit you to trade through multiple trading platforms. However, for some traders, this straightforward usage can be super convenient. 

·        Insufficient Comprehensive Trading Tools

To improve your chances of profitable outcomes, you need comprehensive trading tools. And this is where Videforex lacks. It is short of advanced trading tools, thereby depriving traders of the opportunity to augment their trading capabilities. 

·        Add-on Restrictions

Being a web-based platform, Videforex limits you from using certain system features, like forex expert advisors. Likewise, it also exhibits incompatibility with several other tools and indicators. Besides, the major drawback is that it debars US clients. 

Countries Where Videforex Allows You Trade

The countries which videforex accepts include:

  • Thailand
  • Australia
  • South Africa
  • United Kingdom
  • India
  • Germany
  • France
  • Sweden
  • Qatar
  • Norway
  • United Arab Emirates
  • Luxembourg
  • Singapore
  • Hong Kong
  • Italy
  • Denmark
  • Saudi Arabia
  • Kuwait

Note:  Access to the Videforex platform is restricted from the United States and Canada.

VideForex Trading Hours

Trading on Videforex takes place on all days of the week for 24/7. It is worth noting that not all traders offer you this flexibility. You can trade binary options, CFDs, and Forex as per your suitability. This is the perfect option for traders with varying schedules and time scarcity. At last, you can also trade on Sundays and even during late night hours as per your convenience. 

Frequently Asked Questions about Videforex:

Is The Videforex Trading Application Free to Use?

Yes. The Videforex app is available for both Android and iOS devices is free to use. The app is readily available and is open to all traders. Nevertheless, to begin trading, traders need to make a certain minimum deposit. 

How Payments and Transactions Are Secured On the Videforex Platform?

Videforex adopts a stringent security standard for safeguarding transactions. It incorporates a 3D secure protocol and 264 bit SSL (Secure Sockets Layer) encryption technology to keep payment pages protected. Thus, all payments and transactions are entirely secure on Videforex. 

How Does a Videforex Demo Account Differ from A Live Trading Account? 

A demo account provides you a risk-free environment to try your hands on trading strategies, broker’s offerings, and potential risks using virtual capital. Alternatively, a live trading account is for experienced individuals who can analyze risks and execute accurate trades while keeping their real capital stake. 

Does The Videforex Trading Application Follow The EKYC Process?

Yes, the Videforex application requires an online KYC (Know Your Customer) process. It is only after undergoing EKYC; you can start to invest and trade on the platform. This is a mandatory process required for verifying the trader’s identity and demographic details. 

VideForex App – Key Takeaway

The Videoforex app is one of the best trading platforms in the market to offer the special convenience of permitting trade from anywhere or anytime. The support and features that come with this application simplify trading for beginners as well as experienced. Thus, you need not stress a lot. Instant trade execution and withdrawals, besides several perks, enhance your trading experience in no time. Additionally, you can use the same login credentials to access your account on the web platform and mobile phone. 

Want more? Downloading the Videforex app is reliable, faster, and accessible. Overall, considering all aspects, this bespoke trading broker is worth trying out. 

Conclusion

If you’re seeking the finest online day trading brokers, VideForex.com is worth a look. It offers enticing periodic contests, a customized trading dashboard, and live video guidance despite its infancy. Furthermore, with a variety of online trading accounts as well as simple setup and usage, this broker is appealing to both novice and experienced traders.