Videforex is a forex and CFD broker that claims it provides traders with the extensively developed platform for Binary Options and CFD trading with live video chat.
Videforex was established in 2016 and is acquired by Vide Projects LTD located at 306 Premier Building, Albert Street, Victoria, Mahe, Seychelles.
This broker says it offers platforms for traders amateur, knowledgeable, and professional insight and understanding of the trading industry.
The broker’s website interface is understandable as well as the trading techniques.
Videforex is considered as a fresh entrant to the binary options trading industry. Despite that, this broker has attained a substantial amount of fame for the online trading community because it is the first binary options broker to integrate a live video feed system for the customer support service.
This aids live interaction between traders and the support representative and has caused most binary options traders to feel appreciated as customers and not just like another faceless individual hiding behind the computer screen.
VideForex broker is not accessible for the USA residents. Nevertheless, it approves traders from the United Kingdom, Australia, Canada. Besides, the trading platform is available to traders from the majority of European countries including Germany, France, Italy, Luxembourg, Sweden, Norway, and Denmark.
The residents of Qatar, India, the United Arab Emirates, Kuwait, Saudi Arabia, Singapore, Hong Kong, Thailand, and South Africa are also approved.
This is not a detailed list because there are traders from other countries of the world who trade with Videforex.
VideForex Broker Trading Platforms
VideForex offers its trading platform.
This means that they are accountable for everything that ensues on the site, including complications.
It also indicates that no third party is involved.
Another encouraging feature Videforex comes with is that the trading platform is web-based. It is also accessible on mobile devices(iOS and Android apps) and because traders can easily access their accounts anywhere and at any time.
What VideForex Broker Says It Offers
Videforex offers a great number of tools like charting tools, fundamental analysis, and technical analysis.
The company offers binary options and CFD/Forex trading.
The choice of assets is extremely outstanding as there are more than 100 different offers.
Binary options assets are distributed into 4 categories:
CFD/Forex trading has these, plus one more category available – Indices.
VideForex Broker Account Types
Videforex broker has provides 3 distinct accounts for traders with various levels of trading skills:
- The Bronze Account – this account is for amateurs who are just starting and are new in the industry.
This account type only expects a minimum deposit of $250 to create an account and it comes with a 20% deposit bonus.
- The Silver Account – this account type is for traders with some trading knowledge.
The deposit requirement for this account type is greater at $1000 and a Silver account holder will be privileged to a 50% deposit bonus once their accounts are funded.
Asides the higher deposit bonus, this account type offers additional bonuses such as 3 Risk-Free Trades and a trading tutorial called Master Class.
- The Gold Account – this account type is designed for VIP traders – that is, for traders who expert in the field.
The account t requires a minimum deposit to be created and it comes with extra benefits such as a 100% deposit bonus and the interest of a personal success manager.
VideForex Broker Deposit and Withdrawal Methods
The smallest sum one can invest in VideForex is $250 and the deposits are accepted via:
- Bank wire transfer
- Perfect Money
When using credit cards to invest, the investor has to understand that he may be charged a 5% transfer fee.
The other methods of depositing are without charges.
And the least amount of money an investor can deposit, using bank wire transfer, is $5000. The funds will be credited to the account within one working day. And there will be a $50 fee charged by the bank for the transaction performance.
The withdrawal method is made via:
- Bank wire transfer
- QIWI Wallet
- OK PayPerfect Money
The smallest sum an investor can withdraw is $50 and to be able to make withdrawals, an investor has to make a 100% turnover of the money he has deposited.
But this rule works only if the trader hasn’t used any bonuses.
Investors who have already taken their bonus money have to reach a 300% turnover of the invested funds to enable them to withdraw the money.
Is VideForex Licensed?
The VideForex broker is registered in an offshore zone. Although it may not seem safe enough, the company uses the license of Finance Group Corp. This means that their users are protected.
The company also employs its maximum to safely compile the personal data of the clients.
They use SSL encryption for this and they also verify the identity of all their users.
Although this broker is not licensed by the guaranteed regulating bodies, it provides a live video feed of the people that clients talk to on live chats and this is a huge plus for safety for potential clients.
Another drawback of this broker is that it operates virtually as an offshore platform while offering huge prizes and bonuses that are similar to the kinds only scam brokers offer.
But then, we can recommend this broker because of this singular feature – the live video chat, although we would ask our readers to begin with the beginner account to first ascertain the realness of this broker.