Videforex fees: How much does it cost to trade
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Lately, people have started showing an interest in binary options trading. That’s because options trading brings in huge profitability. But to start a career in options trading, you need to avail services of a reputed broker.
You must choose a trading broker that offers different kinds of assets for trading. Also, the broker should have a convenient minimal deposit like VideForex.
VideForex is the newest addition to the binary options broker list, and it’s the best. This platform was launched in 2017 by a legally registered Scotland-based broker. One thing that has made VideForex a better trading platform is its smooth interface.
Through VideForex, a trader can invest money in Forex, binary options market, and CFD. In short, this trading platform gives better exposure for trading. Also, it has made live video chat support available for traders.
But what are the trading fees? Does this trading platform charge any non-trading fees? Also, what are the different account charges of Videforex? To find answers to these questions and more, keep reading.
VideForex Commission Charge
Trading or commission fee is a common thing that almost every broker charges. But what sets apart one broker from the other is the amount they are charging for the trading of each asset.
A commission charge is paid by traders to the broker each time they sell or purchase an asset. So, it’s better to choose an options trading platform like Videforex that charges convenient fees.
The trading fee can also be seen as a premium that traders must pay to help brokers to facilitate trading through their platform. Some brokers give a discount on the trading fee that they charge, while others don’t.
Another important thing to remember is that traders do not have to pay any fees for the Payout. That means the entire amount displayed as Payout is transferred to a trader’s account without any deduction.
VideForex Non-Trading Fees
Besides trading fees, Videforex also charges non-trading fees. Brokers charge this amount for using the platform other than buying or selling assets.
Multiple binary options broker platform charges non-trading fees because third-party fees are applied while funding the account or withdrawing the amount.
Here are a few non-trading fees charged by Videforex.
VideForex Account Opening Charge
Opening an account with VidoForex is as easy as trading with this platform. To get yourself registered with this trading platform, you need to visit its website. After that, select the “open account” option and fill in the required details.
VidoForex will take a few minutes to complete the process. Once the account is created, you must deposit $250 because that’s the minimum deposit amount for VidoForex. Only after paying the minimum deposit you can get access to your trading account.
After depositing the minimum amount, you can start your trading with as low as $1. While there is a minimum deposit amount for getting access to the VidoForex account, you don’t have to pay any account opening charge.
Any trader can open an account without paying any maintenance fees or opening fees.
VideForex Deposit Fees
Although there are no account opening fees or maintenance fees, VidoForex does charge a small deposit fee. A deposit fee is an amount that a trader needs to pay each time they use any authorized payment methods to fund their account.
When traders deposit money in their broker’s account, VideForex does not charge any amount. However, the third party does. So, in short, when depositing money to the account, traders are required to pay small fees.
To simplify the deposit process, VideForex has approved different funding methods. You can use credit/debit cards, Altcoin, Ethereum, Neteller, Perfect Money, Bank Wire Transfer, and Skrill as a trader.
Each of these funding methods charges different deposit fees. The credit/debit cards charges are around 5%. But other trading methods charge a comparatively lower fee.
Funds deposited by traders are kept safely in the European bank, protected by SSL certified 256-bit secure processing technology. The funds are also protected using the 3D secure enable feature.
VideForex Withdrawal Fees
After deposit fees, another non-trading fee charged by VideForex is withdrawal fees. It’s an amount that a trader pays to the broker each time they are withdrawing money from this trading platform.
To start the withdrawal process, traders need to make a minimum deposit of around $50. Any withdrawal request below this amount will be automatically canceled.
For withdrawing money from VideForex, you can use any of the authorized methods by this platform. The authorized methods include Visa, MasterCard, Perfect Money, Altcoin, Bitcoin, Bank Wire Transfer, Skrill, and Neteller.
To withdraw money using any of these methods, a trader needs to submit the required details and withdrawal fees. Out of all the methods, withdrawal fees charged by Visa and MasterCards are more.
Also, the withdrawal money is sent to the account or source from which a trader has made the deposit. Traders can’t change it. And if this thing is not possible, the customer care team of VideForex will find the next best way to withdraw money.
For withdrawing money using credit/debit cards, a trader must submit a photo ID, three-month address proof, and photocopy of credit card (hide sensitive information).
In case funding is done via bank wire transfer, traders must submit a bank statement copy and a copy of a document that shows the trader is related to the given bank. For eWallet, traders can submit ID proof and address proof that’s in their eWallet account.
No matter what the amount is, details and withdrawal fees are required each time a request is made.
VideForex Inactivity Fees
Another non-trading fee a trader has to pay is the inactivity fee. It is the amount paid to a broker for the time of not buying or selling any assets through VideForex.
If trading is not done once every month, traders will be charged $10 per month. If trading is not done for over a year, VideForex can cancel the balance amount as per the terms and conditions.
Videforex Referral Policy
As a trader, you can earn a bonus by referring the VideForex trading platform to anyone. Also, referrers and referred customers are not required to pay any kind of referral fees.
The referral policy is simple. Once the referred customer has made an account and traded around 100% of the deposit, traders can claim the commission amount. The referrer gets a commission of 20% of the deposited amount.
Traders who are looking for forex leverage should choose VideForex as their potential binary options broker platform. That’s because this platform offers leveraged trading. But you need to pay a fee for that.
In leveraged trading, a trader can borrow money for trading. Leverage in return strengthens their position and helps them make a considerable profit. However, if the speculations are incorrect, traders will have to face a massive loss.
If traders choose a leveraged asset to trade in, they have to pay more trading fees. On the other side, the trading fee drops down to half when trading an un-leveraged asset. But the benefits offered by a leveraged asset are more.
VideForex Different Account Charge
VideForex makes binary options trading easy by offering three different types of trading account to the traders.
These accounts are packed with different features and can be unlocked by paying different amounts. But a trader doesn’t have to pay any extra charge other than the minimum opening amount to access these trading accounts.
For instance, by depositing a minimum amount of $250, traders can avail the benefits of a bronze account. Also, they get a 20% welcome bonus and access to the demo account.
By paying a minimum amount of $1000, traders can unlock the silver account. This brings them the benefit of making three risk-free trades. Also, the silver account offers a 50% welcome bonus and master class web session.
The last account type is gold that a trader can get by depositing $3000 to $10000. The gold account of VideForex provides access to a Swiss prepaid card and a personal success manager.
For practicing with a demo account, you won’t have to pay any extra charge. But demo trading is available only after a minimum deposit of $250.
VideForex Trading Instruments
VideForex offers multiple trading and training tools. Fortunately, traders don’t have to pay any extra charge to get access to these tools. That’s because the trading and training tools come together in the package of trading account.
If you are looking for an excellent trading platform that offers several benefits to increase profitability, VideForex should be your pick. Although this popular trading platform is not regulated, it’s one of the few platforms that offer multiple assets to trade-in.
The trading fees charged by VideForex are also less than the fees charged by other such platforms. Furthermore, the non-trading charges are also low.
VideForex doesn’t charge any kind of fees for withdrawing and depositing money, but the third-party platform does. Traders can easily pay this amount each time a non-trading operation is executed on this platform.