Traders pay the brokerage or commission charge for selling or purchasing an asset. As Videforex is a trusted platform, it charges a small convenient commission fee. You can consider this charge a fee you pay for trading through the platform. It allows traders to fund their accounts from any part of the world. For example, let’s assume that a company ABC’s stock price currently trades at $24.
Spreads & Commissions
You have to reach 300% turnover from the amount of money deposited. VideForex lacks any of these protections, so it means you take risks when trading with this broker. Videforex is not a secure Forex broker since it does not hold a https://forex-reviews.org/activtrades/ license from any worldwide serious Forex authority. If you want to open an account with Videforex, you can do it in just a few seconds. This feature is excellent for new investors or people who prefer a passive investment style.
Videforex review of the trading platform:
VideForex rewards traders who are dedicated to their brand by allowing them to participate in weekly contests where prize funds of $20,000 are awarded every week. 20 skilled traders receive cash prizes, electronics, tickets, and more from the $20,000 prize fund every week. Other bonuses include an initial deposit bonus that ranges from 20% up to 100% depending on the size of your initial deposit. Videforex follows standard office hours and 24-hour trading hours Monday-Friday. Trading hours vary by instrument and can be found directly on the trading platform, displayed in GMT. The broker charges a commission of up to 2.5% for opening a cash crypto CFD position.
Customer Support
During our VideForex review, we found out that the brokerage provider is not well-regulated. Although they offer frequent promotions and tonnes of bonuses, we advise traders to interact with VideForex cautiously. The broker seems to specialize in Forex and binary options primarily. However, they also offer a bunch of other products including CFDs, stocks, ETFs, and market indices.
- Lastly, to open a Gold account, a minimum deposit of $3,000 is required.
- Demo account is a great opportunity to practice strategies and become familiar with the platform with their demo account option.
- Trading Futures and Options on Futures involves substantial risk of loss and is not suitable for all investors.
- There are no additional details regarding this tool on the broker’s website, so we’re going to assume that it is built into the trading platform as standard.
Free demo account for beginners
This broker’s platform is available on any device, which allows both newbie and professional traders to access it anytime, anywhere. Where the conversation may last with an agent for a while but then the https://forex-reviews.org/ 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. This is the least amount of funds you can operate your account with.
We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. Trading Brokers Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey. We have over 20 years of experience when it comes to trading online so we know what to look for. This comprehensive approach allows us to recommend the best brokers for different experience levels, trading styles and budgets. If you have experience trading with Videforex please share your personal review of the broker and what you think are strong and weak points. When we used Videforex, we found that deposits are processed instantly while withdrawals can take up to one hour.
Investors can also use their browser-based login details to access the mobile platform. At the bottom of your trading platform, there is a table that would feature open, closed, or pending positions that have been executed by the system. All details listed here are vital for backtesting, portfolio management, and trade review.
In addition, with several online trading accounts, straightforward setup and use, this broker is an attractive proposition for both beginners and experienced investors. Videforex offers binary options and leveraged CFDs on major, minor and exotic currency pairs, a dozen cryptos interactive brokers 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). Because forex trading requires leverage and traders use margin, there are additional risks to forex trading than other types of assets.
The broker provides a user-friendly and innovative trading platform that features live video chat support 24/7. The platform is available in web, Android, and iPhone versions. Videforex also offers various tools, education, and account types to suit different trading styles and preferences.
Their charts are powered by TradingView, the leading application for all your charting needs. To access the trading platform, clients simply need to log in to VideForex’s website using the email and password that they used upon signing up. Once you’ve logged in, you will notice that everything you need for trading will be on this web-based platform. With Videforex you can trade digital options and CFDs on one platform.
However, leverage can also amplify losses, making forex trading a field that requires knowledge, strategy, and an awareness of the risks involved. They offer three types of accounts- Gold, Silver, and Bronze. The least expensive is a Bronze account, which requires a $250 initial payment but gives you free access to a demo account, a copy trading tool, and the fundamental account features. Depositing funds are usually instant so to ensures that VideForex clients can start trading right away. As previously mentioned, the minimum deposit depends on which account type you want to open.
According to the website and VideForex’s customer support representative, they do not charge any fees. However, upon asking about their commissions and profit share, the representative didn’t respond anymore. There’s no additional information regarding the commissions or profit share found on the website. This is why traders should treat this broker as an unregulated platform and must be extra careful when trading with them.
Videforex refused to pay me the win despite video evidence attached sent to them and they have accepted it was a win. In addition to bonuses, VideForex offers a weekly trading contest that offers a total prize fund of $20,000 which is distributed among 20 total winners. It appears that at least some of the prizes are offered in the form of bonus funds, starting with the participant who comes in 6th place. Positions 1 to 5 are said to have been awarded cash prizes (an iPhone 10 went to the 5th place winner). Here again, we recommend reading the terms and conditions to fully understand the rules. Accounts without a bonus must achieve a 100% turnover on the initial deposited amount before a withdrawal is permitted.
Other assets include commodities, stocks, and cryptocurrencies. The web platform comes with a simple interface, which may be a huge deterrent for veteran traders looking for advanced tools and features. VideForex provides novice traders with an exceptional online trading experience with a personalized level of support that boosts the trader’s confidence and ability to trade. The trading platform featured by VideForex is very simple yet sophisticated enough to competently trade CFDs and binary options on a variety of financial assets. The brokerage may not be licensed or regulated, but they have thus far proven to be a reliable and competent online trading broker. All in all, we would highly recommend VideForex to beginner and novice traders around the world.
It gives a huge advantage when traders know the recent economic news or even company background. Having this information lets clients know if a bullish or bearish trade is more favorable. On the bottom-right corner of your trading software, you will be able to change and set your charts from a linear price scale to a log scale. Some traders, however, use percentage scales, and clients will also be able to use this. For CFD’s and forex, clients will also immediately have access to VideForex’s charting software that is fully customizable.
Credit/debit card deposits (VISA and MasterCard) will be processed instantly with a 5% transfer fee. DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. If you have traded with Videforex we would really like to know about your experience – please submit your own review. This average customer rating is based on 2 Videforex customer reviews submitted by our visitors. Compare the markets and instruments offered by Videforex and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
Despite this, Videforex is a legitimate broker and not a scam. The unique features offered may offset the risk of limited regulatory oversight. Trading Futures and Options on Futures involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Opinions, market data, and recommendations are subject to change at any time. VideForex makes sure that all their clients have what they need.
From the look of things, VideForex appears not to have any regulatory oversight. While the broker might be a credible trading platform, they are closely run by other offshore brokers making them unreliable. For this reasons, we recommend that you take extra precaution when opening an account with them.
The great thing about VideForex is they have a wide range of assets to choose from. This gives their clients maximum exposure to the different types of asset classes on the market. The deposit bonuses also help increase the clients buying power or working capital. A trading bonus of 20 %, 50%, or 100% will be granted to users depending on their account type.
It can take Videforex up to 3 business days to process incoming bank wire transfers and to verify that the funds have been received. Yes, but you need to make a deposit first and contact customer support to get your demo account credentials. A useful extra feature is social trading, also known as copy trading.