VideForex Review 2024: Should you sign up with the broker?

VideForex Review 2024: Should you sign up with the broker? title=

This Trading Platform is available in Ukraine

1.8/5
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VideForex is a Forex broker that aims to make trading easy for people from different countries. They aim to help active traders and those who prefer earning without doing much but copying trades from other traders within the platform. Plus, if you bring in new clients or participate in contests, you can earn money with them.
To start trading with VideForex, you only need $50. They offer different assets to trade, like currency pairs, stocks, indices, commodities, and metals. In total, they have over 100 assets you can trade. And if you're into riskier trading, they also have binary options.

Min. deposit
$250
Website address
https://videforex.io/
Demo account
Yes
Currency
BitcoinEURGBPUSD
Supported languages
EngEspRusTha
Active
Yes
Payment Methods
AltcoinsBitcoinCredit/Debit cardsEthereumPerfect Money
Pros
  • There is a demo account available to you.
  • The broker offers mobile apps and a web platform for trading.
Cons
  • The broker does not provide educational material for its clients.
Awards
None
Bonus
Up to 100% deposit bonus
Instruments
Binary optionsCFDsCryptoForex
Min. trade price
$1
Regulated By
Not regulated by any major authority
MetaTrader 4
No
MetaTrader 5
No
cTrader
No
OmniTrader
No
AlgoTrader
No
TradingView
No
Trading Central
No
Autochartist
No
eSignal
No
STP Account
No
ECN Account
No
DMA Account
No
MAM Account
No
PAMM Account
No
LAMM Account
No
Demat Account
No
Mobile Apps
Yes
Margin Trading
Yes
Volatility Index
No
Spot Trading
No
Perpetual Swaps
No
ELWs
No
REITs
No
AI / Machine Learning
No
Robo Advisor
No
P2P Trading
No
Negative Balance Protection
No
VPS Hosting
No
Tournaments
No
Demo Competitions
No
Managed Accounts
No
Market Maker
Yes
Auto Trading
No
Social Trading
No
Copy Trading
No
Trade Signals
No
Islamic Account
No
Inactivity Fee
Yes
Guaranteed Stop Loss
No
Stock Exchanges
Not applicable
Commodities
Gold, Silver, Oil
Forex Trading
Yes
Forex GBPUSD Spread
Variable
Forex EURUSD Spread
Variable
Forex EURGBP Spread
Variable
Forex Assets
28 currency pairs
Crypto Spread
Variable
Crypto Lending
No
Crypto Staking
No
Crypto Mining
No
Crypto Auto Market Maker
No
Crypto Coins
BTC, ETH, LTC, others
Binary Options
Yes
Payout Percent
Up to 90%
Expiry Times
From 1 minute to several hours
Ladder Options
No
Boundary Options
No
Show all >>

* The amount that will be credited to the account in the case of a successful deal

* General Risk Warning: Your capital might be at risk

Trustpilot Real Time Reviews

Star

The Trustpilot rating is 1.8,
according to 97 reviews

4.5 Stars
Brad Puals
Brad Puals
stars
us
One convenience I appreciate with Videforex is the ability to directly deposit and withdraw funds through their web and mobile apps. I can log in to access my full account management features from anywhere without needing to go through a separate payments portal. Funding my account takes just less than 2 minutes right within the Videforex app. This helps me trade faster without hassle. Recently, I deposited fresh funds to open new positions with just a few taps in the mobile app. Easy, integrated funding makes Videforex very accessible for active traders on the go like myself. Overall, I'm very satisfied so far.

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Alexa Growny
Alexa Growny
stars
us
There are so many negative comments that I couldn`t believe them. I have been trading with videforex for so long and have never experienced any issues. 5 stars from me guys, thank you!

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Сергей Коваль
Сергей Коваль
stars
ua
I'm just starting to trade on the stock exchange, but first impressions are the most positive. Excellent support service, if you have any questions, they will always help. After a month of work, it went from $ 500 to $ 800.

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Emilio
Emilio
stars
au
I had only very good experiences with Videforex ! To deposit and as well the withdrawal of my Profit was easy and fast ! The beautiful ladies at the support are amazing , not only beautiful but as well very helpful for my questions ! I trade with videforex over 14 month now, never had any negative experience with them ! Thank you so much for your great support and help !

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Oleh Ivanitskyi
Oleh Ivanitskyi
stars
us
I found Videforex last year and already at that time I had 1,5 year of experience in trading. I wasn't sure about working with Videforex because of some negative reviews and other stuff but I knew how to differentiate real company from fake one and I opened my account. My words were proven after 1 month. I made good profit and had to request all money including my deposit for some personal reasons and the company immediately approved my withdrawal. Then I was trading a lot building my account without withdrawing but now already I make it regularly with no problems at all!! Thanks Videforex

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Ali Mckenly
Ali Mckenly
stars
us
I had some misunderstanding understanding using this platform and withdrawal. My account has been stopped however I would like to continue trading as this is my second week as a trader. The platform is very user friendly and customer service responds quickly.

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Content

Being in business since 2016, VideForex has been around for some time and has raised several eyebrows. So, is the broker legit? Let’s find out everything we can about the broker.

VideForex Review: Should you sign up with the broker?

How does VideForex stand out?

Non-stop trading: The trading continues even on weekends on the platform.

Minimum required trading size: You can start trading and open positions with as little as $1.

Contests for traders: VideForex frequently hosts trading competitions. They offer valuable training in addition to financial incentives.

Multiple funding options: VideForex accepts payments using various methods. These include credit cards and cryptocurrency.

What is VidForex?

First, let me tell you a little about the broker. Before hitting the “Create account” option, you should know everything about the broker.

VideForex is a broker that allows people all around the world to trade forex. Since its inception in 2016, it has immensely grown in popularity. Despite this, when reading reviews, you’ll see most users seem to have bad experiences with the broker.

VideForex homepage

VideForex homepage

Involva Corp is the owner of VideForex. The company is also in charge of BinaryMate. I have done an in-depth review on Binarymate; you can check it out here.

You must first register or sign up before you can begin trading with this broker. To set up your first trade, you must deposit a minimum of $250. However, if you wish to get a feel for the platform before investing, you can try the demo account like I did (more on that later).

WHAT ARE VIDEFOREX REGULATIONS?

When I visit any broker’s website, I look for the regulations page. What I found with VideForex raised some red flags. During my research, I discovered that this broker is missing something important – Regulation!

Although the broker says it’s regulated, it isn’t. The broker lacks a license from a reputable authority like the FCA, ASIC, or CFTC. The firm is licensed in the Marshall Islands, a country known for offshore trading – meaning you don’t have any protection of funds.

HOW DOES VIDEFOREX WORK?

HOW DOES VIDEFOREX WORK?

If you don’t care about regulations, I have some good news. Trading various assets is possible with VideForex, in an array of types. Given below is a list of these assets:

Stocks

  • IBM
  • TESCO
  • COCA COLA (US)
  • NIKE (US)
  • MICROSOFT (US)
  • EXXON MOBIL
  • AMAZON
  • PFIZER
  • DISNEY
  • INTEL, and more.

And what forex pairs are available by the broker? Let’s see:

Forex

  • EUR/USD
  • USD/CAD
  • EUR/GBP
  • USD/ZAR
  • GBP/RUB
  • NZD/USD
  • AUD/JPY
  • EUR/AUD
  • AUD/CAD
  • GBP/CAD, and more.

Cryptos

  • BitCoin/USD
  • BitCoin/CNY

Indices

  • DOW (US)
  • CAC (FRANCE)
  • NASDAQ (US)
  • FTSE 100 (UK)
  • MSM 30 (OMAN)
  • ISE 30 (ISTANBUL STOCK EXCHANGE)
  • DUBAI (DUBAI FINANCIAL MARKET GENERAL INDEX)
  • HANG SENG (HONG KONG)
  • TEL AVIV 25
  • IBEX, and more

The last asset VideForex offers is commodities:

Commodities

  • SILVER
  • Sugar
  • GOLD/EUR
  • Coffee
  • Platinum
  • Gold
  • Gold future
  • Oil, and others.

HOW DOES THE VIDEFOREX PLATFORM WORK?

When I opened the demo account with the broker, I found out that it had limited platform options. The broker doesn’t provide any standard trading platform. I was disappointed, but as an experiment, I opened an account to see what they did offer.

VideForex only provides its native platform. It is web-based and provides a simple interface. However, it lacks many advanced tools and doesn’t have any indicators at all. That’s a major turn-off for any trader.

While trading, I combine technical and fundamental analysis. One of those tools is technical indicators. The platform comes in with a mobile version too, which offers the same features as the web platform.

VideForex platform

VideForex platform

Further reading

WHAT ARE VIDEFOREX TRADING ACCOUNTS?

If the platform turns you off, VideForex’s trading accounts can provide some relief. I was shocked to see a broker with no regulations providing such a variety of account types.

VideForex offers three account types; Bronze, Silver, and Gold accounts. Let’s go through them:

1. BRONZE ACCOUNT

The bronze account has a minimum deposit of $250. It includes a 20% bonus, copy trading tool, and a demo account.  VideForex mentions the withdrawals take about an hour. However, customer reviews state that’s not the case.

2. SILVER ACCOUNT

This account can get you a 50% bonus. It also includes a master class on the web to help you in your trading journey, as well as a demo account. You get three risk-free trades and trading protection, which means traders can get 10 percent back on negative trades.

3. GOLD ACCOUNT

The gold account can get you a 100% bonus. It also includes a master class and a demo account, just like the silver account type. You can get a personal account manager and three risk-free trades like that for silver account holders.

VideForex account types page

VideForex account types page

DOES VIDEFOREX OFFER A DEMO ACCOUNT?

Want to get a feel for the market before investing a large sum? You can try VideForex’s demo account. As we discussed, I opened a demo account only with the broker. The good thing is that all three account types have a demo account.

Further reading

HOW SAFE IS VIDEFOREX?

You and I agree that safety is one of the biggest concerns when opening an account with any broker. VideForex also lacks security, which should give you pause if you’re thinking of working with the broker.

HOW SAFE IS VIDEFOREX?

VideForex does not work under any regulated authority – this sets off alarm bells for any scrupulous trader. Also, the broker claims they have proper security measures; however, their explanations of the safety measures they take are dubious at best. Due to certain security issues and regulatory concerns, VideForex does not operate in the United States.

Further reading

WHERE IS VIDEFOREX LOCATED?

I discussed the regulations and safety measures of VideForex. On a related note, it’s important to know the physical location of a broker. Where is VideForex located?

I didn’t find anything about the broker’s location. All I saw was its parent company address. Here’s a screenshot:

VideForex location

VideForex location

The registration address of VideForex is Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.

Further reading

HOW TO CONTACT VIDEFOREX?

Every trading broker platform offers contact services to the trader. VideForex allows a limited contact service to traders.

Following are the contact services provided by VideForex.

  • On-call service
  • Social media

VideForex also offers a call contact service to traders. Unlike many other forex brokers, Videforex does not offer a live video chat service.

Further reading

HOW TO DEPOSIT/WITHDRAW FUNDS INTO VIDEFOREX?

To evaluate any broker, the ease of depositing and withdrawing money plays an important role. VideForex also offers different methods for asset deposit and withdrawal. Want to know about these methods? Here they are!

Unlike other major brokers, VideForex offers limited asset deposit and withdrawal methods. Several brokers offer the traders the option of a bank wire transfer, but VideForex does not offer it. VideForex instead offers bank-related funding only via credit/debit cards. VideForex also offers a deposit and withdrawal facility using the following cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Altcoins

The minimum deposit limit for the VideForex account is $250, and the maximum deposit limit is $50,000. The minimum withdrawal limit on VideForex is $50.

VideForex funding methods

VideForex funding methods

Further reading

DOES VIDEFOREX OFFER PROMO CODES OR BONUSES?

Forex brokers often offer promo codes to attract traders and bonuses to reward for deposits. Below given is the quick analysis of promo codes and bonuses provided by VideForex.

DOES VIDEFOREX OFFER PROMO CODES OR BONUSES?

VideForex does offer some promo codes. These codes are often sent to you by email service or displayed on the website. You can find the VideForex promotional codes on other websites, but you must ensure they are authentic.

To incentivize deposits, VideForex offers a significant amount of bonus services to traders available via a tiered system. Depending upon the first deposit, the person can earn up to a 100% bonus.

  • If your first deposit is $250 to $999, you can get a 20% bonus; your total trading deposit will be $300 to $1198.
  • If your first deposit is $1000 to $2999, you can get a 50% bonus; your total trading deposit will be $1500$ to $4498.
  • If your first deposit is $3000 to $5000, you can get a 50% bonus; your total trading deposit will be $6000 to $100000.

If weekly prizes are more your thing, check out the $10,000 in weekly prizes provided by Weltrade.

Further reading

HOW DO I MAKE MONEY WITH VIDEFOREX?

I stumbled upon VideForex when searching for low-level brokers. When I opened their website I was bombarded with flashy numbers… a bad sign. I tried their demo account anyway to see what the experience was like.

Well, I didn’t like it at all. I tried trading on the platform for one week and left the broker. We’ll discuss what exactly about this broker left a bad taste in my mouth, and how to spot some red flags in brokers like these moving forward in your own trading life. First, let’s see what others say:

what others say

what others say

others say

Further reading

FAQs

How good is VideForex?

It depends on many factors, like tradable assets, platforms, account types, and funding methods. They offer a high minimum deposit and don’t have any regulations. So, VideForex isn’t good.

Who owns VideForex?

Involvo Corp, a company in the Marshall Islands, owns VideForex.

How can I close my VideForex account?

To close an account, you need to contact the support team. The whole process can take a couple of days to one week.

Does VideForex charge tax?

VideForex charges no tax on the profits made during the asset trading. It is instead the traders’ responsibility to follow the tax requirements of the country or the region where they use VideForex.

Does VideForex pay out?

Yes, it does. VideForex payout reaches up to 95%. Payouts signify your expected returns on each trade.

FINAL THOUGHTS

We evaluated VideForex’s pros and cons, but the cons were more than the pros. The obvious cons are the lack of regulation, high minimum deposit, no physical address, and no security. So, I would give the broker a 1/5.

I hope this review was useful to you and helped you make a decision. If you are looking for legit forex brokers, you can check the complete list of brokers here.

It is one of the best international brokers. Different types of assets, convenient and reliable platform, favorable trading conditions. Want to know more? Click here.
Further reading
General Risk Warning: Your capital might be at risk

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