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VideForex

Welcome guys! I prepared the best VideForex review possible. It’s a very different broker in many ways. So keep reading to not miss anything!

VideForex is owned by Vide Projects Ltd. in the country of Seychelles.

You can get all the answers by continuing this VideForex review article.

Their website is active since early 2017. You can browse the website in Russian, Spanish, Thai, German, French, and Chinese languages besides English.

The information for VideForex address or the regulations aren’t stated clearly on the website and hence it raises the question of the reliability of the broker.

Is VideForex a scam or legit? Is VideForex regulated? What is the VideForex leverage ratio? Is VideForex spreads high? What are the advantages and disadvantages of the broker? How well does the VideForex customer service work? Are funding and withdrawal methods enough?

License and regulation is the most important section of this VideForex review. That’s why it’s the first thing to look for before considering the trade with any forex broker house.

Unfortunately, VideForex doesn’t have any form of regulation. This is by far the most important disadvantage of the broker.

No regulation means no trust for the traders which is the crucial point in making sure your funds are safe and you can withdraw whenever and however you want.

That would also mean, trading with VideForex has no guarantee that your funds are segregated from the operational funds of the broker itself and hence you can simply be unable to withdraw your funds or they’d be just susceptible to lose and scams.

For example, there is a reliable watchdog called FCA or Financial Conduct Authority. This regulator inspects brokers very carefully and provides them to obey the rules. You can try

There are many requirements to get a license from FCA. So only companies who can capable of proving their assets and trustworthiness can get this license. For instance, a broker has to prove that they have an account worth €730,000 excluding the accounts of the customers. This is for proving the minimum financial stability.

Also, FCA has a compensation scheme which is a great thing for you traders. Because in case of bankruptcy, the foundation will pay you up to £50,000. It’s great, isn’t it?

VideForex lacks any of these protections, so it means you take risks when trading with this broker.

In this section of the VideForex review, we’ll discuss the account types and the differences between them. So as always I questioned firstly whether this broker has a demo account.

3 types of accounts are offered at VideForex which include: Bronze, Silver and Gold accounts.

The Bronze Account

The bronze account offers a +20% bonus opportunity. A minimum deposit for the bronze account is $250. The bronze account allows for a copy trading tool, in addition to 24/7 live video chat support with a demo account option and withdrawals to take place in 1 hour.

The Silver Account

The silver account is the most popular account among all 3. As it offers:

  • +50% as a bonus
  • The highest amount of leverage offered is 1:500 i.e you can trade 500 times the amount of the minimum deposit.
  • $1000 as a minimum deposit.
  • Educational material like web sessions where there is a master class offered for traders, beginners, or experts.
  • The First 3 trades are risk-free
  • A copy trading tool
  • A Demo account option
  • Withdrawals that take action in 1 hour
  • 24/7 video chat support

The Gold Account

The gold account, on the other hand, offers similar features to the silver account with some differences, so I’ll break the features of the gold account to you as follows :

  1. +100% bonus which is the highest amount of bonus offered
  2. $3000 as a minimum deposit which is the highest amount of minimum deposit allowed
  3. Personal success manager
  4. The first 3 trades are risk-free
  5. Educational material like web sessions where there is a master class offered for traders, beginners, or experts.
  6. Copy trading tool
  7. A demo account option
  8. Within 1 hour withdrawals
  9. 24/7 support

Demo Account

In order to open a demo account with VideForex, you need to have access credentials and in order to get them. You will need to open a real account, deposit the minimum deposit and then get in touch with VideForex customer service to request Videforex demo account credentials to access.

It’s not very common in the forex market to have a demo account opened after paying the minimum deposit to get a demo account that’ll be trading with virtual funds and which is also used to try out strategies and knowledge. One of the reasons the broker applies that was because many spammers can invade VideForex. So, deposit money if you want to have a demo account.

Bonus Rate

The Videforex bonus rules depend on the account type. For the Bronze account, there is a 20% bonus rate. For the Silver account, the bonus rate is 50%. If you have a gold account the bonus rate increases to 100%.

Make sure to check the terms and conditions before opening an account. Because if you’re trading forex or CFDs the bonus requirements stays the same.

Initial Deposit

Initial deposit changes by account type as well. For a bronze account, the initial deposit is $250. This is the least amount of funds you can operate your account with. And this amount, in comparison with the average of the market, is quite high as we can see in other brokers the minimum deposit amount is $100 or even less. For example, Olive Markets only ask $100 for the initial deposit. So I consider the VideForex minimum deposit at a medium level. The silver account requires $1,000.

As they say, everything has a cost. So in order to have a gold account, you have to deposit at least $3,000.

Spreads

There’s always a spread charged with any forex broker and this case is no different with VideForex. Here, the spread is not fixed but a dynamic spread type with specific instruments. VideForex will take into consideration the liquidity and external markets into account as factors affecting the spread.

Spreads are fixed on 2 pips for EUR/USD for all types of accounts. Well, if we compare it with other brokers, the spreads are also higher than theirs. So this is another disadvantage of the VideForex.

Different Features by Account Type

Also, some features depend on the account type while other features are offered for all VideForex account types. For example, 24/7 live video chat support is offered for all account types.

You can also withdraw your money in 1 hour whether you have a bronze, silver or gold account. Copy trading tool is another feature that VideForex and it doesn’t matter which account type you have.

But if you have a silver account instead of a bronze account, you will have the privilege to have a web session of the master class and you will have the possibility to trade risk-free of the first three trades.

Moreover, if you have a gold account instead of the other two account types, you will be assisted by a professional success manager.

For the currencies, for all the account types, the leverage is 1:100; for cryptocurrencies, it is 1:3; for Bitcoin, it is 1:5.

Turnover Requirement

Now guys, please read this part of the VideForex review very carefully! I want to point out the very different and negative features of this broker. VideForex requires its customers to reach a total turnover Videforex even when they don’t use bonuses.

It’s by far one of the most ridiculous things I have heard in the Forex industry. You have to reach 100% total turnover Videforex from the amount of money deposited for an account without the bonus.

If you want to use a bonus, things get even more difficult. You have to reach 300% turnover from the amount of money deposited.

Funding methods like deposit and withdrawal at Videforex aren’t of as big variety as one might think. This section of the Vidforex review will explain all the available methods of funding and withdrawal presented by the broker.

Vidforex is offering debit and credit cards as a method to deposit and withdraws ( visa and debit card are possible ) in addition to cryptocurrencies like Bitcoin, Altcoins, and Ethereum.

There are no funding nor withdrawal fees applied on any of the cryptocurrencies methods, However, there is a 5% on the Visa and MasterCard deposits and withdrawals.

Deposit Processing TimeFunding MethodWithdrawal Processing Time
InstantVisa/ MasterCard up to 1 hour
InstantBitcoinup to 1 hour
InstantAltcoinsup to 1 hour
InstantEthereum up to 1 hour

The processing time for each transaction is pretty fast and instant processes take place. The withdrawal timeframe, however, might take up to 1 hour to take action and that is after confirmation and approval of your withdrawal. The broker doesn’t charge a transfer fee, however, bank or any third-party charges that might occur aren’t related to the broker.

VideForex doesn’t support non of the most used platform in the forex industry which includes MT4 and MT5 which are the most popular platforms in the forex and CFDs markets.

The broker is offering the options for a web platform along with a mobile platform application where it has the following characteristics:

  • Regular CFD and Options trading
  • Direct deposit and withdrawal via APP
  • 60 seconds
  • My account
  • My portfolio

The application is free to download yet it’s still not any known forex platform.

The trading instruments available at VideForex are stocks, currencies, commodities and indices. I’ll show all the details of each instrument in this part of the Vidforex review.

Stocks: the presence of different international stocks for major companies in the market from all over the world has made it easier for traders to add it to their trading portfolio to diversify their risk. These stocks include Nike, Apple, Microsoft, TESCO, HSBC Holdings, Citi, amazon and more.

Currencies: which are basically represented in forex CFDs. With more than 30+ trading currency pairs available for trading, VideForex is presenting forex majors, minors and exotic currency pairs. These include EUR/USD, GBP/USD, USD/JPY, EUR/CHF, EUR/NZD and more.

Commodities: Silver, Gold, platinum, and Oil can all be traded with VideForex which all are included in the commodities section. Along with Sugar and coffee as a representation of the agricultural commodities offered.

Indices: DOW, S&P 500, NASDAQ, DAX, CAC, FTSE 100, ISE 30 and more are available for trade within the indices section.

In my opinion, it’s a shame the broker is only offering these trading instruments for trade while other brokers in the market are offering way more trading tools and instruments for their clients.

VideForex customer service in this VideForex review is pretty much the only thing that me a bit exceptional from other brokers, where the broker here offers live video chat customer support. Where the conversation may last with an agent for a while but then the system requires you to log in or register to continue. there is an option to have a group chat or a private chat with the agent.

Even though you’re asked to log in, there’s enough time to have a conversation and ask questions and receive their answers before the registration.

Plus, customer support is incredibly friendly and helpful. Anyways, I got all my answers after I directed questions. You can also use their service.

Contests are a great source of motivation to both new and expert traders and so it’s a good point to be included in the broker services. And in this Vidforex review, I’ll break down the details of the contest and rewards offered by Vidforex.

There is one contest offered by VideForex which offers a prize of $20000, where the Videforex bonus rules are as follows: there are 20 winners selected every week. Where all accounts are joined automatically and you don’t need to apply for participation in any way. All your trades will be counted regardless of the trading result.

So we are at the final section of the VideForex review.

VideForex is a broker that lacks regulation. So you should think twice before depositing your money. There are various account types and their features are clearly explained. However initial deposit is not low although it’s not high either.

VideForex doesn’t supply any clear information about their address nor licenses or regulation on their website which are considered one of the main pieces of information to be presented to trades initially for trustworthiness. and so I think it’s clear that through the information given in this VideForex review, it’d be wise to think twice before trading with VideForex.

In addition to that, the customers’ feedback from dealing with live accounts doesn’t seem to be anywhere close to neutral even. Many negative comments from traders regarding VideForex have been found and some are not even able to withdraw their funds which might be connected to the limited amount of channels offered for deposits and withdrawals as was mentioned in the funding section throughout this VideForex review.

And so I advise you to be very careful in deciding to trade with VideForex from my end I wouldn’t recommend it due to the negative feedback found.

Spreads are medium too, maximum leverage ratio is lower than most off-shore brokers. So if you are a trader who likes taking risks, it’s not a positive thing.

Although their trading platform is inadequate, their customer service is very original and competent. There’re several trading instruments present where the investors can choose which one is suitable for them.

3 different accounts are available yet the minimum deposit is higher than the average of the market and you need to deposit to open a demo account which doesn’t make sense at all as the main principle of demo accounts is trials.

Have you got any trading experience with VideForex? What do you think of the video chat service of the broker? Please don’t hesitate to comment below!

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