Videforex Review 2024
Pros
- Videforex regularly runs trading contests, offering practice opportunities and cash prizes to beginners and experienced traders, with position sizes from just ¢0.01.
- Videforex is one of the few brokers with 24/7 multilingual video support, providing comprehensive assistance for active traders.
- Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, bringing it in line with competitors like IQCent.
Cons
- Videforex lacks authorization from a trusted regulator, meaning traders may receive little to zero safeguards like segregated client accounts.
- The absence of any educational tools is a serious drawback for newer traders who can find blogs, videos and live trading sessions at category leaders.
- The client terminal needs improvements based on our latest tests, sporting sometimes slow and unresponsive widgets which could dampen the experience for day traders.
Videforex Review
Videforex offers its own proprietary platform for trading binary options and CFDs. Traders can earn up to 98% payouts speculating on the price direction of 100+ assets. This 2024 review of Videforex unpacks the broker’s accounts, fees, promo codes, and mobile app. Our beginner-friendly tutorial also explains how to place a trade on the Videforex platform.
About Videforex
Since its launch in 2017, the popularity of the CFD, forex, and binary options broker has grown. 4000+ client accounts have been opened and the brokerage has processed close to $500,000 in withdrawals.
Videforex offers 24/7 trading on popular markets, including forex, commodities, and cryptocurrencies. The broker also offers guaranteed withdrawals in less than an hour and live video support to assist users.
The company behind the brokerage, Involva Corp, is registered in the Marshall Islands.
Trading Platform
One of the unique features of this online broker is that they have chosen to design and create their in-house trading platform. Whilst many will be used to MetaTrader 4 (MT4), there are advantages to the approach taken by Videforex:
- By not using a third-party platform, they can ensure both the quality and reliability of their online service
- The broker knows what is happening on their platform at all times. This can streamline the querying process and ensure any problems and glitches can be fixed swiftly
- Videforex can regularly update the platform to improve the user experience. For example, in 2023 the brand added a new technical analysis design, fresh time intervals on OTC assets (5, 15 and 30 seconds), and new investment size buttons ($5, $10 or all-in), among other features.
Trading on the platform is straightforward for both beginners and experienced investors. It has been engineered to retain usability while offering a variety of sophisticated tools and resources many day traders require. For example, in-depth investing tutorials can walk newbies through the platform. Both tick and candlestick charts are also available.
The sleek system makes selecting your financial instrument a hassle-free process. You can get to your choice of currency pairs, commodities, and indices with just a few clicks. Plus, you have access to cryptocurrency pairings and fixed return options.
A useful extra feature is social trading, also known as copy trading. This allows you to learn from experienced and successful traders, enabling you to copy the trades of high-earning investors.
Clients can also select the ‘Live Trades’ tab in the left-hand side of the platform to view the top traders for a particular asset. By clicking on the pages icon on the right, users can copy traders by simply specifying the size of the investment.
How To Trade
It’s quick and easy to open a binary options trade on the Videforex platform:
- Login to the web-based trading platform through the broker’s site
- Select an asset from the menu in the top left of the platform
- Choose an option type – turbo, intraday, long-term
- Select an expiry time
- Decide how much you want to stake/invest
- Review the payout percentage and amount
- Click ‘Up’ if you think the price will rise
- Click ‘Down’ if you think the price will fall
- Wait for the contract to expire
Markets & Instruments
Videforex offers binary options and leveraged CFDs on major, minor and exotic currency pairs, a dozen cryptos including Bitcoin, plus commodities like gold. You can also trade major indices like the Dow Jones 30, S&P 500, and FTSE 100 (CFDs only).
The broker’s binary options offer payouts of between 20% (cryptos) and 98% (OTC currency pairs). 2023 also saw Videforex expand its suite of OTC assets with payouts up to 95% and trading opportunities on popular global markets. Expiry times range from 5 seconds up to 1 month. Clients simply need to decide whether the price of an underlying asset will rise or fall. Potential payouts and losses are fixed before the investor opens the trade.
Spreads & Commissions
With Videforex, a spread is usually charged on CFD positions. The spread is dynamic for particular instruments. It will take liquidity and external markets for the underlying financial instrument into account.
They are not necessarily the cheapest broker on the market and by no means the most expensive, meaning you can avoid the brokers whose fees are so low you pay the price in poor executions and the more expensive platforms that cut into your profits.
Other Trading Fees
The platform charges a swap fee of 0.07% of the face value of the position to hold a position overnight.
There is no maintenance or registration charge when you sign up for an account. However, if you do not make at least one trade a month, you will be charged $10.
Videforex Leverage
Videforex offers leveraged trading. This effectively allows you to borrow money to strengthen your position. Importantly, it can significantly increase your profit potential. However, it also has the risk of magnifying losses.
The company restrict all customers by default to a maximum multiplier of 1:500. In addition, a customer’s loss is limited to their original investment amount, so the remaining amount of equity is protected.
When we used Videforex, we found there is a commission for opening an unleveraged cryptocurrency CFD position. This could be anywhere from 1% to 2.5% of the transaction. Opt for leveraged CFD cryptocurrency positions, and the fee can climb to 5%.
Mobile App Review
The Videforex mobile app is a user-friendly trading solution for Android devices. It offers a full suite of tools and features and is a good supplement or alternative to the desktop solution.
The broker’s complete range of assets is available, from cryptos and stocks to binary options and forex. Full account management and copy trading are also available. In addition, users can view their trading history, make deposits and withdrawals, and execute orders at the click of a button.
Deposits & Withdrawals
If you’re using Videforex from the UK, Europe, or anywhere else, you can deposit and withdraw money through popular payment options. The broker also accepts digital currencies, so you can use any of the following methods:
- Credit cards (Visa/Mastercard)
- Perfect Money
- Ethereum
- Litecoin
- Altcoins
- Neteller
- Bitcoin
- Skrill
When we used Videforex, we found that deposits are processed instantly while withdrawals can take up to one hour.
Note, there is a 5% transfer fee with Visa and Mastercard.
Minimum Deposit
Videforex requires a starting deposit of $250 for new trading accounts. They also give up to a 20% to 200% deposit bonus on any first deposit and account.
Promo terms and conditions are available on the broker’s website. Whether you’re day trading forex, CFDs, or binary options, the bonus requirements are the same.
Trading Accounts
The amount you deposit will depend on which account type you are eligible for:
- Bronze – The minimum deposit is $250. With this account, you benefit from withdrawals in one hour, 24/7 live video chat support, a 20% first deposit bonus, a demo account option, plus their copy trading tool.
- Silver – To qualify for the silver account, you must deposit a minimum of $1,000. You will then receive all the Bronze features, plus three risk-free trades, a 50% first deposit bonus, and a master class web session.
- Gold – This requires a minimum deposit of $3,000. You will gain all the Silver features, plus a first deposit bonus of up to 100%, and a personal success manager.
Another perk is the Rollover tool which lets traders increase positions up to 100% of the selected timeframe on the first use. All following uses can be extended up to 30%.
There is a charge for the Rollover service at $1 = 1 rollover. However, our team liked that free rollovers can be offered depending on the deposit and account type.
Videforex Demo Account
Once you have made a deposit, you gain access to a Videforex demo account. This is the ideal place to develop a strategy and get familiar with market conditions using simulated money. Then, when you are confident, you can start putting real capital on the line.
Additional Features
Trading Contests
One of the best features of Videforex is the weekly contests. There is no entry cost, and twenty winners are listed each week. Both beginners and experienced traders can compete, as all accounts automatically participate.
There is a $20,000 prize fund.
Market Analysis
Videforex also offers several additional trading tools. This includes an economic calendar, market news and technical analysis. Easy to digest for beginners, these can help investors find opportunities and time trades.
Safety & Security
As cybercrime is on the rise and online scams prevalent, trusting your broker with your confidential data is important.
Videforex uses a 3D secure money transfer and SSL certified 256-bit funds processing. Payments are also verified by Visa and MasterCard using a one-time code.
Regulation & Licensing
The company is licensed by the Finance Group Corp, which is located at the 2nd Floor, Transpacific Haus, Lini Highway, Vanuatu.
It’s worth noting this means Videforex is not regulated by CFTC, like most US brokers, which is why you can’t partake in day trading with Videforex if you are from the USA.
Trading Hours
You can day trade binary options, forex, and CFDs 24/7.
Not every online broker offers this, making Videforex a good fit for those with limited time or changing schedules.
Customer Support & Help
The broker offers live video chat support, which you can access directly from the homepage. This makes Videforex a strong contender for newbie day traders or those that want live support a few clicks away.
Contact options include:
- Thai – 02-21345671
- Chinese – 3-395-0396
- English – +1-829-9476393
- Russian – +7-499-7033774
- Singapore – 965-65425142
- Australia – 61-8-5550-7288
- Email – support@Videforex.com
You can also contact the company that operates Videforex, Involva Corp (registration number: 104693). Their address is Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH96960.
Videforex Verdict
Videforex has tempting weekly contests, promo codes, a bespoke trading platform, plus live video support. In addition, with several online trading accounts, straightforward setup and use, this broker is an attractive proposition for both beginners and experienced investors.
Keep in mind though, Videforex is unregulated, and we always recommend caution before trading with unlicensed providers.
FAQ
Does Videforex Offer Any Sign Up Bonuses?
Yes, Videforex offers deposit bonuses between 20% and 200% depending on your account type.
Does Videforex Have An Inactivity Fee?
If you fail to make at least one trade a month, Videforex charges a $10 fee.
Does Videforex Have A Demo Account?
Yes, but you need to make a deposit first and contact customer support to get your demo account credentials.
Can I Use Videforex In The US?
No, the broker isn’t regulated or licensed to operate in the US.
Is Videforex Regulated?
No – the firm is not regulated by a reliable financial agency. As a result, it can offer higher leverage rates up to 1:500.
Top 3 Alternatives to Videforex
Compare Videforex with the top 3 similar brokers that accept traders from your location.
- World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
- RaceOption – RaceOption is a binary options broker operating from the Marshall Islands. With over 1,500 clients, the broker aims to offer fast funding, low fees and a secure trading environment. Traders can access over 100 binary options and CFDs, plus copy trading and weekly prizes.
- BinaryCent – BinaryCent is an unregulated binary options broker that offers 24/7 trading on forex, cryptos and stocks with payouts up to 95%. Despite its lack of regulation, this broker takes client security seriously and stores client funds in European banks. The broker also offers CFDs with very high leverage up to 1:500.
Videforex Comparison Table
| Videforex | World Forex | RaceOption | BinaryCent | |
|---|---|---|---|---|
| Rating | 3.4 | 4 | 3.5 | 3 |
| Markets | Binary Options, CFDs, Forex, Indices, Commodities, Crypto | Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts | Binary Options, CFDs | CFDs, Forex, Stocks, Cryptos, Options, Commodities |
| Demo Account | Yes | Yes | Yes | Yes |
| Minimum Deposit | $250 | $1 | $250 | $250 |
| Minimum Trade | $0.01 | 0.01 Lots | $0.01 | $0.01 |
| Regulators | – | SVGFSA | – | VFSC |
| Bonus | 20% to 200% Deposit Bonus | 100% Deposit Bonus | 20% – 200% Deposit Bonus | 20% – 200% deposit bonus |
| Education | No | No | No | No |
| Platforms | TradingView | MT4, MT5 | TradingView | Own |
| Leverage | 1:500 | 1:1000 | 1:500 | 1:500 |
| Payment Methods | 8 | 10 | 9 | 11 |
| Visit | Visit | Visit | Visit | Visit |
| Review | – | World Forex Review |
RaceOption Review |
BinaryCent Review |
Compare Trading Instruments
Compare the markets and instruments offered by Videforex and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
| Videforex | World Forex | RaceOption | BinaryCent | |
|---|---|---|---|---|
| Binary Options | Yes | Yes | Yes | Yes |
| Expiry Times | 5 seconds – 1 month | 1 minute – 7 days | 5 seconds – 30 days | 5 seconds – 30 days |
| Ladder Options | No | No | Yes | No |
| Boundary Options | No | No | No | Yes |
| CFD | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes |
| Commodities | Yes | Yes | Yes | Yes |
| Oil | Yes | Yes | Yes | Yes |
| Gold | Yes | Yes | Yes | Yes |
| Copper | Yes | No | No | No |
| Silver | No | Yes | Yes | Yes |
| Corn | No | No | No | No |
| Crypto | Yes | Yes | Yes | Yes |
| Futures | Yes | No | Yes | No |
| Options | No | No | No | Yes |
| ETFs | No | No | No | No |
| Bonds | No | No | No | No |
| Warrants | No | No | No | No |
| Spreadbetting | No | No | No | No |
| Volatility Index | No | No | No | No |
Videforex vs Other Brokers
Compare Videforex with any other broker by selecting the other broker below.
Customer Reviews
1.5 / 5This average customer rating is based on 4 Videforex customer reviews submitted by our visitors.
If you have traded with Videforex we would really like to know about your experience - please submit your own review. Thank you.
Don’t do it!! They will not allow you to withdrawal anything!! I’ve been going around and around for months now with nothing to show for it! I’ll be suing because I want my money and will not accept anything less.
DO NOT USE THIS PLATFORM!
This is by far the worst platform and customer service I have ever come across. I have been trying to withdraw my OWN money since October 2022!!
The amount of emails I have had to make and respond to has been ridiculous and they say they have tried calling me, which is a lie! All I get is a response email saying ‘I will let you know when there is an update’.
I STRONGLY recommend you do not use this platform as all the do is hold your money and make it impossible for you to withdraw. Even though you followed what they suggested in their emails to speed up the process.
THIS IS SUCH A SCAM!!!
If I could give it 0 stars I would! I’ve been with VideForex since 2020 and they have no respect for their traders. Withdrawal will take more than 1 month IF it gets processed, I can guarantee you that.
Don’t do it!
I like that the potential returns at Videforex are higher than binary platforms I’ve tried in the past. But to get a decent welcome bonus you really need at least a Silver account which needs a $1000 deposit and more than I could afford. The platform itself is super easy to use, even for beginners like me.