Videforex Review 2021
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| Videforex Facts & Figures | |
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Forex broker Videforex accepts deposits in a range of cryptocurrencies. Payouts reach 95% per trade. |
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| Instruments | Forex, CFDs, indices, shares, commodities, cryptocurrencies, binary options |
| Demo Account | Yes |
| Min. Deposit | $250 |
| Payments | Skrill, Alipay, Perfect Money, Wire Transfer, Bitcoin Payments, Neteller, Credit Card, Visa, Mastercard, QIWI |
| Min. Trade | $1 |
| Regulated By | |
| MetaTrader 4 | No |
| MetaTrader 5 | No |
| cTrader | No |
| DMA Account | No |
| ECN Account | No |
| Social Trading | Yes |
| Copy Trading | Yes |
| Auto Trading | Yes |
| Signals Service | Yes |
| Mobile Apps | Yes |
| Islamic Account | No |
| CFD | |
|---|---|
A suite of contracts for difference are available across popular markets with up to 1:500 leverage. | |
| Leverage | 1:500 |
| FTSE Spread | Floating from 0.2 |
| GBPUSD Spread | Floating from 0.1 |
| Oil Spread | Floating from 0.05 |
| Stocks Spread | Variable |
| Forex | |
Videforex offers leveraged trading on major, minor and exotic currency pairs. | |
| GBPUSD Spread | Floating from 0.1 pips |
| EURUSD Spread | Floating from 0.1 pips |
| GBPEUR Spread | Floating from 0.1 pips |
| Assets | 35 |
| Stocks | |
Videforex offers trading on a long list of stocks and shares, alongside major exchanges such as the FTSE. | |
| Cryptocurrency | |
Start leveraged trading on cryptos against fiat currencies and other alt coins. | |
| Coins | BTC, ZEC, XRP, XMR, SAN, OMG, LTC, IOT, ETH, ETC, EOS, DSH, BCH |
| Spreads | Floating |
| Binary Options | |
Binary options are available on forex, crypto, stocks and commodities. | |
| Payout Percent | 85% |
Videforex is an online broker specialising in forex, CFD, and options trading. Clients can access 100+ assets on their proprietary trading software. Our Videforex broker review will cover their UK account registration and login process, spread offering and minimum deposit requirements. Plus, we dive into their platform and mobile app to review their key features.
Videforex Headlines
Videforex was established in 2016 and is operated by INVOLVA CORP, located in the Marshall Islands. The broker is not registered with any financial authorisation or regulatory body. Videforex currently has 3000+ live accounts.
Trading Platform
Videforex offers clients its proprietary web trading platform. No download is required as trading is available via all major web browsers. The platform is easy to navigate with a user-friendly interface. However, while the platform is touted as suitable for both new and experienced traders, we found that sophisticated and advanced tools were lacking. In particular, there are very few technical features that are common on competitor platforms, such as charting tools and indicators.
Note, there are no third-party platforms such as MetaTrader 4 or 5.
Videforex Proprietary Trading Platform
Products
The broker offers UK clients access to 100+ assets in the following markets:
CFDs and options on:
- Commodities – Gold and silver
- Crypto – 13 crypto pairs, including BTC, ETH and LTC
- Indices – Seven global indices, including UK100 and USA500
- Stocks – Options on four German stocks, including BMW and Lufthansa
Plus, 48 forex pairs, including GBP/USD and EUR/USD.
Spreads & Commission
Videforex spreads are floating and vary by instrument.
The broker charges a commission of up to 2.5% for opening a cash crypto CFD position. Leveraged cryptocurrency positions will incur a maximum 5% commission fee. Plus, there’s a swap fee (0.07% face value of the position) for trades held overnight. An inactivity fee of $10 per month applies if clients do not complete at least one trade in this time.
Leverage
Videforex offers a maximum leverage of 1:100 and differs by instrument. Traders should always utilise risk management strategies when trading with leverage to prevent significant losses. A maintenance margin call is in place for all retail traders. If the account equity falls below 5% of the initial investment, the broker will automatically close the position. This is in place to protect traders from losing more than their deposit amount, but can cause issues for profitability in a volatile market.
Mobile Trading
Videforex offers a mobile application as part of their proprietary software. This is available for free download to iOS and Android devices. The app allows for complete account management and access to trading opportunities while on-the-go. Features include:
- Live charts
- Full range of assets
- View of trading history
- Copy-trading
- Instant trade execution
- Access to the full suite of tools and features available on the desktop platform
Videforex Mobile Trading App
Payment Methods
Deposit
Videforex minimum deposit requirements vary by account type. The Bronze account requires the lowest deposit of $250 or equivalent currency. The broker does not charge an account funding fee, however, third-party fees may apply. UK clients can utilise the below deposit methods, with instant processing and no deposit fees.
- Skrill
- Bitcoin
- Neteller
- Bank wire transfer
- Alternative crypto coins
PerfectMoney is available with up to 1 hour processing time and no fee. Credit/debit card deposits (VISA and MasterCard) will be processed instantly with a 5% transfer fee.
Withdrawal
Videforex does not charge for withdrawals. The minimum amount for withdrawals is $50 or equivalent currency. Identification is required for each request. Fast processing times is available for all payment methods, and are guaranteed within 1 hour.
Note that there are some withdrawal conditions that apply. Accounts without a bonus must achieve a 100% turnover on the initial deposited amount before a withdrawal is permitted. Accounts with a bonus are subject to a 300% turnover cap before a withdrawal is allowed.
Demo Account
Videforex offers a demo account for practice trading. However, account funding is required to obtain demo credentials. Demo accounts are a great way to become familiar with the platform and to test trading strategies risk-free.
Deals & Promotions
Videforex offers several bonus and promotions:
- Giveaways – Enter the relevant promo code and fund your trading account to be added to the prize draw. Prizes vary by deposit amount.
- Trading contests – Videforex runs a weekly competition with a prize of up to $20,000 based on trading volumes. All trading accounts are automatically entered into the contest.
- Referral programme – Traders can invite family and friends and will receive 20% of their deposit amount.
Regulation & Licensing
Videforex is not regulated by any financial authority. The company is licensed in the Marshall Islands, known for offshore trading and the absence of regulation. Traders who deposit funds with a broker with no regulation do so at their own risk. In the UK, financial service providers must be regulated with the Financial Conduct Authority (FCA). Client fund segregation, negative balance protection and compensation services are not guaranteed.
Additional Features
Our review of Videforex was disappointed to see limited additional resources for traders. A basic trading tutorial is published on the broker’s website, topics include how to trade CFDs and how to trade binary options. However, there is no economic calendar, live market news streams, or trading updates which are provided by most good brokers.
Account Types
Videforex offers 3 account options; Bronze, Silver, and Gold. All accounts feature 24/7 live video chat support, copy trading tools, and fast withdrawals. Silver and Gold accounts additionally benefit from the first three trades being risk-free, compensated by a trading bonus if negative trading results occur. Bonus opportunities increase based on initial deposits. The accounts available to UK clients are:
- Bronze – deposit between $250- $1000, +20% bonus opportunity
- Silver – deposit between $1000-$3000, +50% bonus opportunity
- Gold – deposit between $3000-$50,000, +100% bonus opportunity, access to a personal success manager
To open an account, UK clients must complete the online registration form. This involves providing identity documents and proof of residence. Traders should select GBP as the base currency when creating an account.
Benefits
- Demo account
- 24/7 live video chat
- Weekend trading opportunity on cryptocurrency assets
- Cryptocurrency deposits accepted
- Bonus opportunities
- Guaranteed 1 hour withdrawal processing time
Drawbacks
- Unregulated, despite homepage claims
- High minimum deposit requirements for new traders
- Turnover requirements apply to withdrawals
- Limited additional features, such as an economic calendar or live market news
Trading Hours
Videforex follows standard office hours and 24-hour trading hours Monday-Friday. Weekend trading is available on cryptocurrencies. Trading hours vary by instrument and can be found directly on the trading platform, displayed in GMT.
Contact Details
Videforex offers several customer support options for UK clients:
- Online contact form
- Live video chat 24/7
- Callback request form
- English speaking phone number- +1-829-9476393
The Videforex website also provides a FAQ section. Topics include account features, trading help and registration.
Safety & Security
Client portal access is password protected. Videforex assures 3D-secure and VISA-secure code payment authentication for all deposits. All data is SSL certified with 256-bit secure processing.
Should You Trade With Videforex?
Day trading opportunities with Videforex are limited. The broker’s website is very basic and traders can expect platform functionality to be too. The lack of regulation from any financial body is concerning, therefore traders deposit at their own risk. With that being said, there are some strong benefits associated with Videforex, such as weekend trading possibilities, guaranteed 1-hour withdrawal processing times; and cryptocurrency payment methods accepted, including Bitcoin.
FAQs
Is Videforex A Scam?
There’s no evidence that Videforex is a scam. However, the broker is not regulated by a reputable authority and therefore UK traders deposit at their own risk.
What Are Videforex Minimum Deposit Requirements?
The minimum deposit requirement to open a live account with Videforex is $250 or equivalent currency for the Bronze account.
Does Videforex Offer A Demo Account?
Yes, Videforex offers a demo account. Registration is required before demo account credentials are provided.
What Trading Platforms Does Videforex Offer?
Videforex offers retail clients trading opportunities via their proprietary web trader and mobile application platform. The platform is easy-to-use with simple navigation features.
What Account Types Does Videforex Offer?
Videforex offers 3 live account types; Bronze, Silver, and Gold. Minimum deposit requirements and bonus opportunities vary.
Videforex vs Other Brokers
If you want to compare Videforex with other brokers, use the detailed comparisons below.
Videforex vs |
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| Forex broker Videforex accepts deposits in a range of cryptocurrencies. Payouts reach 95% per trade. | ||