VideForex has seen steady growth as a CFD, forex and binary options broker since its launch in 2017. VideForex has developed its own financial trading software and platform and is open to both beginners and experienced day traders.
However, you might wonder if VideForex is just a scam.
To help you make a more informed decision, I have thoroughly researched the VideForex so I can tell you more about it.
As a disclaimer, I’m not affiliated with VideForex. It means I’m not paid to write this review. So you can rest assured that you will get an honest and unbiased review from me.
At the end of this review, I’ll also tell you the best alternative to VideForex that has enabled me to make a full-time passive income online.
What is VideForex?
At Videforex you will find more than a hundred different tradable assets with which you can trade Forex, CFD and options.
The broker assures its clients that they can trade from any device, at any time, with various deposit and withdrawal options, and all personal data is secure. However, the broker seems to overlook the most important part: the rules.
There is a common company behind both the newer broker VideForex and the more established BinaryMate. A trustworthy company that has a history of making sure their clients’ money is safe and providing excellent service. What can you expect from their newest service, VideForex.com?
Trading Account Minimum Deposit
It can be daunting to invest a large sum of money right away when you start day trading. You should stick your toe in the water first to see how it feels. Fortunately, the minimum deposit VideForex requires for new trading accounts is a reasonable $250. Also, VideForex will double your initial deposit up to a maximum of $200 (read the terms and conditions before taking advantage of the offer).
Also, whether you’re interested in day trading forex, CFDs, or binary options on VideForex.com, the minimum requirements are the same.
Spreads & Commissions
Expenses for day trading can quickly add up. That’s why it’s so important to work with a broker who offers reasonable spreads. Spreads are frequently used by VideForex.com. The spread on some instruments can change from one trade to the next. The underlying financial instrument’s liquidity and market price volatility will be taken into account.
They are not the most expensive broker out there, but they are also not the cheapest. This should help you stay away from the brokers whose ridiculously low prices are offset by slow trade execution and an unstable trading platform. As opposed to cheaper brokers, those with higher fees will cut into your profits for the day.
You can use leverage when trading Forex on VideForex. Because of this, you can get a loan and drastically better your situation. The bright side is that it could lead to a dramatic rise in your profits. Still, losses could accumulate.
The company must adhere to the law, so it sets the default multiplier for all customers at 1:100. Customers can rest assured that any losses will never exceed the amount they initially invested.
The establishment of a margin-free Bitcoin CFD position may result in a commission being levied by VideForex. Depending on the specifics of the deal, this could equal between 1% and 2% and 1/2 of the total. The fee could reach 5 percent if you decide to take leveraged CFD cryptocurrency positions.
If you’re looking for a place to get leverage in the forex market, VideForex is a good option. Make sure your plan and financial management system allows for the possibility of losing money.
Other Trading Fees
If you make a lot of trades every day, the fees can add up quickly. This highlights the significance of locating reliable online day trading brokers. VideForex.com is one of the few brokers that tries to be transparent about their pricing structure.
VideForex.com may charge a swap fee equal to 0.07% of the position’s face value if a customer chooses to hold a position overnight.
In addition, when you open an account with VideForex, you won’t have to pay any kind of ongoing or signup fees.
Lastly, be on the lookout for promotional codes or deals on their website. It’s possible that, if you sign up at the right time, you’ll be eligible for free financial dealings.
VideForex Trading Platform
Client testimonials consistently highlight VideForex’s in-house built trading platform as a key differentiator. There are a number of benefits to using VideForex.com rather than the more common MetaTrader 4 (MT4) platform.
- Since they are not using a hosted service, they have full control over the security and uptime of their online trading platform.
- No matter what happens to their website, VideForex is always up to date. This should make it easier to fix any issues that arise during the query process.
Whether you’re a complete novice or a seasoned trader, the VideForex platform makes day trading a breeze. It’s been made with the user in mind, so it’s easy to navigate even though it offers all the advanced trading tools and data that so many day traders require. For novice traders, comprehensive training can be a great resource.
The intuitive design makes picking the appropriate financial tool a breeze. A few clicks of the mouse will take you to your preferred currency pairs, commodities, and indexes. Additionally to the major currency pairs, you also have access to cryptocurrency pairings and fixed return options.
You’ll also find that there are no time-consuming downloads involved because their platform is web-based.
The copy trading feature, which is part of the platform’s social trading tool, is a useful extra. This paves the way for you to gain knowledge from the actions of high-earning traders and model your own trading strategy after theirs.
Mobile App Review
The Videforex app, which is compatible with both iOS and Android, is a potent trading solution. It’s a wonderful accessory to your current desktop solution, packed to the gills with every conceivable tool and feature.
Trading is permitted in a wide variety of asset classes, including but not limited to cryptocurrencies, stocks, binary options, and FX. The mobile app makes it possible to do everything from manage your account to copy trades.
According to a search marketing website, influencers with a million followers can earn about $670 per post. With 100,000 followers, a content creator on Instagram can earn about $200 per post, while with 10,000 followers, about $88 per post can be earned.
Methods Of Payment
Through VideForex, you can deposit and withdraw money from anywhere in the world. You can now use any of these methods with Videforex since it has entered the world of digital currencies:
- Credit cards (VISA/MasterCard)
- Bank wire transfer
- Perfect Money
Having convenient access to their funds should reassure all clients.
VideForex Trading Accounts
You can open one of three separate accounts to trade CFDs, binary options, or forex on VideForex. The type of account you have access to will dictate the minimum deposit required. What follows are the three possible resolutions:
- Bronze Trading Account – The minimum deposit is $250. With this account, you will have access to a copy trading app, a practice trading environment, and round-the-clock video chat support.
- Silver Trading Account – Silver accounts require a minimum deposit of $1000. To the Bronze package you already have access to, a personal success manager will be added, as well as a web-based master class.
- Gold Trading Account – A minimum deposit of $3,000 is required. In addition to all the features available in the Silver Account, the Gold Account offers a 100% bonus. The Swiss pre-paid card and an individual account manager are both at your disposal.
Silver and Gold account holders are entitled to three risk-free trades, while Platinum account holders are entitled to six.
As can be seen, a larger trading account balance translates into access to more day trading resources. The more resources and tools an intraday trader has, the higher their probability of making a profit.
VideForex Demo Account
When you sign up for VideForex and make a deposit, you’ll have the opportunity to test out the platform risk-free. You can practice your trading skills with virtual currency and get a feel for the market here. Start risking real cash when you feel confident enough to do so.
One of the best day trading tips for beginners is to use practice accounts, such as those provided by VideForex.
Clients can test out all of VideForex’s features and services, no strings attached, with a free demo account. Clients can practice numerous strategies for binary options trading, CFD Trading, and forex trading here.
Users of VideForex will not put their own funds at risk by opening a demo account. Instead, they’ll use the broker’s virtual currency. However, customers will need to make a minimum deposit of $250 to unlock the demo account.
VideForex Additional Features
When researching VideForex, one of the most intriguing aspects I uncovered was their weekly contests.
Twenty lucky winners will be selected at random each week, and there’s no cost to enter. All accounts are automatically included in the competition, so novice and seasoned traders alike can compete on equal footing. The $20,000 cash reward is the best part, though.
VideForex Safety & Security
It is crucial that you have complete faith in your broker with your personal information, especially in this day and age of increasing cybersecurity threats and internet scams. VideForex.com has a strong commitment to safety, which is excellent news.
They use cutting-edge technology to ensure customers’ privacy and the safety of their financial and personal information during transactions.
VideForex Regulation & License
There are times when fraudsters post unfavorable information on day trading websites. A broker’s trustworthiness is crucial, as shown here.
The regulatory system for VideForex complies with financial regulations, but it is not limited to the laws of any one country. A license has been granted to them by Finance Group Corp, located on the 2nd Floor of Transpacific Haus, Lini Highway, Vanuatu. As with most US forex brokers, VideForex.com is not regulated by the CFTC.
Pros Of VideForex Trading Platform
From currency day traders to those interested in CFDs and binary options, the best online trading companies have to cater to a wide range of needs. VideForex offers a multitude of advantages according to customer feedback:
- Accessibility — Their day trading services are available worldwide, except in the United States.
- Small minimum trade size – Positions can be opened for as little as $1. For those just starting out in business or with a small investment, this is a wonderful opportunity.
- Funding methods – You can pay with a variety of payment methods, including credit cards and cryptocurrencies, at VideForex.
- Customer service – When you need help, you can count on getting it quickly and reliably from VideForex’s customer service team. In terms of accessibility, few brokers can compete with the system’s multilingual, video-based support, which is available whenever a user needs it, day or night. Each second counts in day trading, so it’s crucial to have all of your questions and concerns addressed right away.
- Nonstop trading – Traders have full access to the market 24/7, including weekends. Traders who need to work trading around other obligations will find this useful.
- Withdrawal speed – Winning is always exciting, but waiting a long time to get your hands on the cash prize can really take the shine off. Whenever you make a withdrawal from your VideForex day trading account, you can expect it to be processed within the hour.
- Trading contests – Frequently, VideForex organizes trading contests. Not only can you use them to hone your abilities, but you can also make money off of them.
Cons and Complaints of VideForex
While day trading on VideForex has many benefits, it also has a few drawbacks.
Limitations of web-based trading — If you are looking for a reliable place for online day trading, you will find that many of the best brokers offer multiple trading interfaces. VideForex, on the other hand, only allows web-based trading, so day traders do not have access to the platform. For this reason, trades can only be conducted through the company’s website. However, this simplified strategy can be useful for some traders.
Restrictions on expansions — Since it is a web-based platform, you cannot use specialized systems like forex expert advisors, which limits your ability to grow your business. It is possible that there are also incompatibilities with other indicators and tools. Clients from the USA are also not accepted.
VideForex User Trading Conditions
Next, you may be wondering, what services does Videforex provide for its clients? In the sections that follow, we’ll go into greater depth on this topic.
Additional Fees: VideForex does not have any hidden fees, as stated on their website and by their customer service representative. But when pressed for details on how the commissions and profits would be distributed, the salesperson remained silent. There is no additional data on commissions or profit sharing on the website.
Leverage and assets: You can have access to the assets down below. With Videforex, you can trade CFDs alongside digital options on the same platform.
Options: With VideForex, you can trade options on four different asset groups. Examples of these are stocks, currencies, commodities, and cryptocurrencies. The following is a list of the property that is available. In addition, clients are not compelled to trade with leverage due to the inherent high risk of options trading.
Currency pairs: USD/CHF, EUR/USD, USD/JPY, USD/CNH, CAD/CHF, CHF/JPY, GBP/USD, EUR/NZD, AUD/NZD, EUR/AUD, USD/SEK, EUR/GBP, EUR/CAD, USD/SEK, EUR/GBP, EUR/CAD, USD/SEK, EUR/GBP, EUR/CAD, USD/SEK, EUR/GBP, EUR/CAD NZD/USD, GBP/CHF, AUD/USD, USD/RUB, USD/CAD, EUR/JPY, EUR/CHF, GBP/JPY, AUD/CAD, GBP/CAD, GBP/AUD, AUD/CAD, GBP/AUD, AUD/CHF
Commodities: Gold, Silver
Cryptocurrencies: Bitcoin, Zcash, Ripple, Monero, OmiseGO, Litecoin, Ethereum, Ethereum Classic, EOS, Dash, Bitcoin Cash, IOTA, and stocks such as Lufthansa, Deutsche, Daimler, and BMW.
Forex and CFDs: Contracts for Difference (CFDs) are available on a variety of assets on VideForex, including major currencies, commodities, cryptocurrencies, indexes, and stocks. We’ve compiled a short list of them for your convenience below. There are, however, more than 50 CFD stocks available when it comes to equities. Some of the most traded companies on the site include Apple, Starbucks, Tesla, and Apple. Currency pairs in foreign exchange (Forex) typically include the seven major pairs plus some of the smaller and more exotic ones.
Clients can use leverage to trade these assets. For forex, index, and commodity CFDs, the maximum leverage is 1:500. Bitcoin CFDs are limited to a leverage of 1:10 at this time. Finally, stock CFDs have a leverage of 1:1.
VideForex Trading Hours
You can trade binary options, forex, and CFDs on VideForex around the clock, every day of the week. Since not all online brokers provide this option, VideForex is a great pick for people with busy or unpredictable schedules. Plainly put, it makes it possible to submit a job application at any time, whether it’s early in the morning, late at night, or on a Sunday.
VideForex Contact & Customer Support
Among the many positives discussed in this review of VideForex is the brand-new live video chat feature. This feature is easily accessible from their homepage, which is reassuring for traders.
Live video connections between customers and agents, both public and private, will be available for problem solving. The assistance here is far above average for the business world. Those who are just starting out in the world of day trading and would like the peace of mind of knowing that assistance is just a click away will find VideForex to be an attractive option.
You can reach Vide Projects Ltd., the parent company of the Forex, CFD, and binary options broker, by calling or writing to the address or phone number given on the website.
Contact numbers are:
USA – 849 937 0843
Australia – 61 8 5550 7288
You can also email [email protected]
FAQ: Videforex Review
Is VideForex a Legitimate Company?
Although it lacks the regulatory clout of more established players in the market, VideForex is very much a legitimate business.
Where is VideForex Located?
In contrast to its parent company, the Finance Group Corp., which is headquartered in Vanuatu, VideForex is located in Seychelles.
Does VideForex Locate in Trust Company Complex?
The unlicensed business is located at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. You can reach the broker by calling +18499370843 or starting a live chat session. If you have any questions, please contact us at [email protected]
Does VideForex Offer A Bonus?
Depending on how much you deposit, VideForex will match your money up to 100%.
What Is The Minimum Investment And Funding Options?
With a Bronze account, you can start saving for the future with as little as $250. Financial options for funding an account include major credit/debit cards, cryptocurrency wallets, and popular e-wallets. Users who wanted their referral bonuses reported being required to hand over the deposits they had made on behalf of their referrals.
How to Withdraw?
Customers who have made a profit can ask to cash out their funds using the available withdrawal request options. In one hour, clients will receive their cash from VideForex. Withdrawing money, however, may experience a minor delay of up to a week if you do so on the weekend or a holiday. Keep in mind that there is a $50 minimum withdrawal.
Is VideForex a Scam or Legit?
VideForex is not a scam. It is a legit online day trading broker. Although the broker is still in its infancy, it has a number of attractive features, such as weekly contests, a customized trading interface, and real-time video support.
This broker is suitable for both beginners and experienced traders due to its wide range of online trading accounts and user-friendly interface.
However, there are many concerns about the reliability of the Videforex company and the way it handles online trading.
In order to protect yourself, you should only trade with a broker that is approved by a reputable global regulatory body, follows strict rules, and has an established track record for long-term success. Brokers like AvaTrade and XM.com, as well as British and Australian brokers, are good options for traders.
Is There A Better Alternative to Make Passive Income?
Although investing is one of the most popular ways to grow your wealth and give you some passive income, the stock is unpredictable.
Even if you have tips or insights from so-called experts, it doesn’t guarantee you will win in the stock market. Only God knows when the stock price will rise or plunge. You may be able to make some money in a few attempts, but lose it all in the other attempts.
So if you really want to make a stable and secure stream of passive income, I would suggest you start an affiliate marketing business online instead.
Affiliate Marketing is perfect for anyone who is new to online business.
In fact, of all the online business models I’ve tried, affiliate marketing is the easiest and most rewarding so far.
In affiliate marketing, you can actually run your business almost with zero cost and achieve a steady and sustainable passive income to pay for your bills. You don’t need any initial capital and can even do it as a side hustle.
And if you really want to learn affiliate marketing and build a business from scratch, I’d recommend you to get started with the most reputable platform for affiliate marketing: Wealthy Affiliate.
Wealthy Affiliate is an all-in-one platform for building your affiliate marketing business from scratch. It offers you a free account (including a free website) with comprehensive training on SEO (free traffic methods), which enables you to get started with affiliate marketing right away without paying a penny.
But How Much Can You Earn with Wealthy Affiliate?
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Wealthy Affiliate has existed for 15 years and there are many success stories in the past decade.
To give you more examples, here are some of the other inspiring success stories of Wealthy Affiliate members.
Where to Join Wealthy Affiliate?
Wealthy Affiliate has a very simple pricing scheme. It has free and premium membership.
If you want to feel about Wealthy Affiliate, you can sign up for the free starter membership here (no credit card required). You can select to be a free member with no time limit.
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