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VideForex Trading Account Overview
The VideForex trading platform seems inherently familiar, as it shares its traits with other similar web properties that offer binary options services through different brand names. While it may be confusing at first, apparently due to the conflicting information provided in the website, we can be assured that VideForex is a trusted Forex and CFD broker that also provides access to binary options trading through its other sister companies. VideForex has very strong company fundamentals, which ensures that traders can depend on the company for the long term, provided the broker gets its act together to redesign its website to provide accurate information.
Forex and CFD brokers continue to grow at a staggering rate, but the general investor sentiment has shifted towards a more reliable and regulated brokerage service. It is no longer easy for a company to set up an FX/CFD brokerage and hope for the best, as traders have now become more vigilant and proactive while choosing a trading partner. With good cause, we highly recommend trading the markets with a trusted brokerage, as it is always better to minimise the risk of scams and financial frauds, in order to concentrate on tackling the highly volatile financial markets for a profitable trading career.
VideForex welcomes you with a live chat feature and an actual customer service representative, who goes on to explain the website’s products and services through an interactive video chat interface. The live video chat feature adds a personal touch to the proceedings, but read our expert VideForex review today for all the relevant information about the company.
VideForex operates as a Forex and CFD brokerage under Vide Projects Ltd., a division of the Financial Group Corp., with its corporate office located in Seychelles. The Financial Group Corp. (FGC) is a company located in Vanuatu, which has numerous similar projects operating from Vanuatu, Seychelles, and Scotland, and has built up a substantial presence in the online financial markets. VideForex launched its services in 2017 but is still in the process of refining its products to better align with the global standards adopted by leading service providers in the market.
VideForex is not a regulated entity, unlike the advertisements made on their website. Of course, the company is registered with the Seychelles authorities, but that does not impart much confidence, as even established brokers from well-known jurisdictions are facing the heat to offer a trusted and reliable service. Several local laws and regulations in countries such as the USA, parts of Asia, and EU member nations may prevent VideForex from operating in these areas. Therefore, there are a few regulatory concerns and hurdles while trading with VideForex.
In spite of the regulatory confusion, the FGC assures its traders of the best in services by offering a secure trading platform. Of course, FGC has a massive responsibility to its clients, which is why they try hard in offering innovative services that are designed to give sleepless nights to the competition. Regardless, we would like to stress that VideForex does not accept traders from the USA, while traders from some parts of Europe and Asia may also be unable to maintain an account at VideForex due to the regulatory constraints. You should consult with your local authorities, as well as VideForex’s excellent customer service department, so as to ensure that you follow all applicable laws while trading Forex and other CFD products with the company.
VideForex has a comprehensive range of financial instruments that the FGC offers across its numerous web properties. With a choice of over 160 different assets, VideForex is one of the best brokers in the business that offers Forex and CFD products through a market maker protocol. VideForex has an automated dealing desk platform, where all Contracts For Differences (CFDs) are between traders, or the broker can also choose to absorb the opposite end of trades during times of low liquidity. Due to the nature of market maker protocols, VideForex may have a substantial conflict of interest with the trader. Provided below is a collection of all the financial instruments available at VideForex:
Forex: EUR/USD, GBP/USD, USD/JPY, USD/CAD, EUR/JPY, EUR/GBP, USD/TRY, USD/RUB, USD/ZAR, USD/SGD, NZD/USD, USD/CHF, AUD/USD, GBP/RUB, EUR/RUB, GBP/JPY, GBP/CHF, AUD/CHF, EUR/CAD, AUD/JPY, CAD/JPY, AUD/NZD, EUR/AUD, GBP/CAD, NZD/JPY, AUD/CAD, EUR/NZD, EUR/CHF, BitCoin/USD, BitCoin/CNY, AUD/USD FUTURE, EUR/JPY FUTURE, USD/JPY FUTURE, GBP/USD FUTURE,EUR/USD FUTURE
Stocks: IBM, NISSAN MOTOR, TEVA PHARMA, TESCO, TURKCELL (TURKEY), TATA MOTORS (INDIA), HSBC HOLDINGS (LONDON), COCA COLA (US), SBERBANK (RUSSIA), LUKOIL (RUSSIA), BP (BRITISH PETROLEUM), GAZPROM (RUSSIA), NIKE (US), APPLE (US), MICROSOFT (US), CITI (US), ALPHABET Inc C (Google), F BP, S.BANK INDIA, EXXON MOBIL, BAIDU, AMAZON, DISNEY, GOLDMAN SACHS, INTEL, JP MORGAN CHASE, PFIZER, CATERPILLAR, BANCO SANTANDER, TELEFONICA, BANK OF AMERICA, AIG, YAHOO, NETFLIX, McDONALD’S, ANZ BANK, BHP-AU, RIO-AU, LAS VEGAS SANDS, WYNN RESORTS, EBAY, SONY, BOEING, WAL-MART, GENERAL MOTORS, GROUPON, MASTERCARD, SALESFORCE.COM, STARBUCKS, AXIS BANK, TATA STEEL, ROSNEFT, FACEBOOK, YANDEX N.V, CK HUTCHISON, BLACKBERRY, 3M, TENCENT HOLDINGS, TWITTER, MICRON, SINA, TESLA MOTORS, WEIBO, VTB BANK, ALIBABA, GENERAL ELECTRIC, JOHNSON & JOHNSON, MAZDA MOTOR, TOSHIBA CORP, SUMITOMO , MITSUI, TOYOTA (US), COLGATE-PALMOLIVE, FERRARI, LLOYDS BANK, BARCLAYS, BRITISH AMERICAN T, VODAFONE, RIO TINTO, CARNIVAL CRUZE
Indices: DOW (US), S&P 500 (US), NASDAQ (US), DAX (GERMANY), CAC (FRANCE), FTSE 100 (UK), ISE 30 (ISTANBUL STOCK EXCHANGE), RTS (RUSSIAN TRADING SYSTEM), MSM 30 (OMAN), TADAWUL (SAUDI STOCK EXCHANGE), DUBAI (DUBAI FINANCIAL MARKET GENERAL INDEX), KUWAIT (KUWAIT GENERAL INDEX), BOMBAY SE, HANG SENG (HONG KONG), SSE180 (SHANGHAI STOCK EXCHANGE), KL FUTURE, NIKKEI225（JPN）, TEL AVIV 25, TOPIX, MICEX 10 (MOSCOW INTERBANK EXCHANGE), ASX, IBEX, FTSE F- DEC16, ASX F-DEC16, NIFTY F-SEP16, SMI, FAZ-SHORT BANKS(ETF), IBEX F-OCT16, HANG SENG F-SEP16, CSI 300, TSX 60, SHANGHAI COMPOSITE, DOLLAR INDEX-DEC16, GERMANY 10YR-DEC16, FTSE MIB F- DEC16, RUSSELL 2000, FTSE 250
Commodities: SILVER, PLATINUM, OIL (LIGHT SWEET CRUDE), Sugar, Coffee, GOLD/EUR, GOLD, GOLD FUTURE, OIL FUTURE
VideForex Account Packages
VideForex is yet to update its website with any trading information, which is not something that we expect from a mainstream Forex broker. Every broker has the responsibility of being transparent about its products and services, as it is vital for a trader to have all the relevant information at a glance to make an informed choice. However, we have been working with a large variety of Forex brokers in the market, and have developed a broker review process that attempts to discover all the intrinsic details of trading such as leverage, spreads, and minimum deposit.
VideForex has three categories of accounts, the Bronze, the Silver, and the Gold accounts, which have VideForex minimum deposit requirements of $250, $1000, and $3000, respectively. The Bronze account is a basic account package that offers simple account features such as a demo account and access to a copy trading tool. The Silver account, with its personal success manager and a master class session, is the more suitable choice for traders, but the Gold account does not appear to offer any obvious advantages over the Silver account.
VideForex adopts 3D Secure and 256 bit SSL encryption for account transactions, which are intended to keep clients’ deposits and withdrawals fully secure. Funding and withdrawal methods include Visa, MasterCard, Neteller, Skrill, PerfectMoney, Bitcoin, Ethereum, and other cryptocurrencies. VideForex assures its investors that all funds will be moved to segregated accounts in European banks, but there isn’t any regulatory authority that audits such claims from the company. Regardless, the broker has an excellent withdrawal policy that processes every client withdrawal within an hour, which indeed implies that the broker is serious about delivering on its promises.
VideForex Trading Conditions
VideForex is a market maker broker, and as such, the broker may not have the best trading conditions in the market. The VideForex leverage is quite restrictive, as traders can only trade with a maximum margin of 1:100. The leverage is quite low by modern standards, but it is perfect for low-risk traders. However, the low-risk trading is not helped by the costs of trading, as VideForex spreads are quite high. The spreads will always hover around 3 to 5 pips for the major currency pairs, which is not as competitive as the spreads offered by other brokers.
The minimum investment per trade is $1, but interestingly, the broker specifies a maximum investment limit per trade. We believe that VideForex may be depending on its binary options model for Forex and CFD trading, which should explain the rather strange trading conditions. The absence of ECN or STP protocols for direct market access also makes it difficult for serious investors to trade the market for competitive spreads, excellent liquidity, and no conflict of interest. VideForex must make a few adjustments and improve its products to offer a better brokerage platform.
Bonuses are literally unheard of in the Forex market, mainly since brokers tend to avoid bonuses or promotions due to regulatory guidelines. VideForex, due to its affinity to binary options trading, offers a considerable amount of bonus for deposits. The bonus for Bronze account starts from 20%, while the Gold account offers a maximum of 100% bonus on the deposit amount, subject to some maximum bonus limits. These bonuses are offered for all new account holders, where traders are given the opportunity to reject the bonus to have more control over their trading capital. A bonus will always have a few trading conditions, which can prevent you from withdrawing your money without trading the minimum required volume.
VideForex is also bringing a trader contest to its Forex platform, which offers up to $20,000 in prize money to 20 winners every week. The top trader receives up to $5000, while the runner-up traders receive smaller prize money. The prize money cannot be withdrawn directly but can be used to trade, where the profits are withdrawable after meeting certain trading volume conditions.
The choice of platform is one of the very few controversial aspects of VideForex, as the broker only offers a proprietary trading platform that integrates both binary options and CFD trading into the interface. Traders cannot opt for a popular third-party trading platform such as the MetaTrader or the cTrader, which is a huge disadvantage. We believe that Forex and CFD trading requires access to the best computing resources, which can only be utilised by an installable trading platform. The VideForex trading platform, on the contrary, is a web platform that works through a web browser. Therefore, there are bound to be a few concerns related to trading features and the overall trading performance.
The VideForex trading interface does not have the option of advanced charting or using technical indicators, which can be a serious issue for a beginner, intermediate, and expert traders. Of course, the ability to customise charts, add indicators, and make a detailed analysis of the markets through advanced charts is the fundamental requirement for trading the Forex and CFD market. VideForex does not offer such an ability, making it extremely difficult for traders, and it may even require them to sign up for third-party charting software. As an FX/CFD broker, VideForex has a moral responsibility towards ensuring that it offers the best platform features to its investors.
VideForex Mobile Apps
The same theme continues in the VideForex mobile trading platforms, as the mobile apps are once again a rendering of the existing binary options trading platform. We want Forex and CFD trading apps for mobile devices to be inherently different from binary options interfaces, which is something that VideForex must make a priority while redesigning their platforms. VideForex must understand that the binary options market and FX/CFD market are two different entities, and modifying an existing binary options platform to serve as a dedicated Forex or CFD platform may never really work. Regardless, VideForex apps are offered for both iOS and Android devices, in order to cover both the smartphone and tablet users.
VideForex Customer Service
VideForex aims at attracting traders through a 24 hours customer service team that is available through an innovative video chat feature. The live video chat option offered by the FGC group of companies has received positive acclaim from existing customers and is excellent at providing a human presence while offering support. The 24X7 live video support is complemented with phone numbers and a web contact form, which ensures that traders can receive professional support from the broker at any time of the day or night. VideForex clearly scores in terms of offering one of the best customer service channels in the market.
VideForex Demo Account
VideForex may need to pay close attention to their peers, as currently, a demo account is only offered for verified account holders who make a deposit. In the Forex and CFD market, a free demo account is readily available at almost all mainstream brokers, without having to make any deposit, which really makes life difficult for VideForex clients. We would prefer the company altering its strategy a bit to develop VideForex as a standalone product, rather than following a template that was established for its binary options web properties. Regardless, VideForex does have a demo account option, and traders can withdraw their money from the broker if they are not impressed with the broker’s products, platforms, or services.
VideForex Trading Resources
VideForex can count on its parent company’s experience in the markets, as the broker offers a masterclass session, access to a personal account manager, a copy trading tool, and even technical analysis for Gold account holders. However, don’t expect the company to offer any other educational materials, news coverage, or trading signals, but we are more than satisfied with the broker’s trading resources and informational database. The only drawback is that Bronze account holders can only access the copy trading tool, while the master class sessions and personal success managers are reserved for the Silver and Gold account holders.
- A new broker that concentrates on offering the best in customer service.
- Attractive bonus packages that provide up to 100% bonus.
- Weekly trading contests offer up to $20,000 in prize money for 20 winners.
- A choice of more than 160 financial assets.
- There is a significant confusion surrounding the services, as there are hints of both binary options and Forex/CFD being available as trading products.
- The platforms are quite basic and not as competitive as other established platforms.
- The trading conditions can use some improvements.
Is VideForex a Legitimate Company?
Yes, VideForex is a genuine company, even though it does not have the same regulatory status as some of the leaders in the market.
Where is VideForex Located?
VideForex is located in Seychelles, while its parent company, the Finance Group Corp. is located in Vanuatu.
Does VideForex Offer A Bonus?
Yes, VideForex offers up to 100% bonus on deposits.
What Is The Minimum Investment And Funding Options?
The Minimum VideForex deposit is $250 for the Bronze account, and accounts can be funded through credit/debit cards, cryptocurrency accounts, and popular e-wallets.