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Videforex review 2024 Pros & cons

what is videforex

Once an asset is selected, we suggest looking at its historical price first and do your research on this certain asset. 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. To trade CFDs or Forex, you need to select what you want to buy or sell from the list of asset classes and their respective list of assets. The assets you can trade here include currencies and CFDs for commodities, Cryptocurrencies and crypto pairs, Indices, and Stocks.

  1. With over 100 assets available, clients gain a broader exposure to the market, and this can help diversify their portfolios.
  2. 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.
  3. It makes Videforex a reliable option for traders who want to step into binary options or CFD trading.
  4. The top four traders get $20,000, while the rest get trading bonuses or gadgets.
  5. Traders should check their funds are confirmed before entering a transaction.

Compare the markets and instruments offered by Videforex and its competitors. Please note, some markets may only be available via CFDs or other derivatives. Keep in mind though, Videforex https://www.day-trading.info/ is unregulated, and we always recommend caution before trading with unlicensed providers. Videforex uses a 3D secure money transfer and SSL certified 256-bit funds processing.

Every now and then, they post promo codes on their Twitter or Instagram account, and they even give away codes as soon as you create an account. The trading contest also encourages clients to be more active in the trading scene, and the referral links give additional bonuses to you and your friend. Clients can withdraw their profit via the methods mentioned above.

Deposit Methods & Costs

Make sure to read the Risk Statement and Terms forms before you hit that sign-up button. You can switch between candlestick charts (from tradingview.com) and normal line charts. The firm also claims to have invested in a high-tech system for data protection. However, there is no evidence of negative balance protection or other fund protection policies normally seen in brokerages registered with the CySEC or FCA.

There are three account types to choose from, including Bronze, Silver, and Gold. After that, there are some variances between the account types, so we’ve listed all of the features of each below. Our UK team takes a methodical approach to reviewing online brokers. Our experts also factor in their hands-on testing experience into broker ratings. The broker’s binary options offer payouts of between 20% (cryptos) and 98% (OTC currency pairs).

Subsequently, you could turn on VideForex’s Fix Time mode to properly time your trades. Clients can also take screenshots of their charts by navigating towards the top left portion of VideForex’s platform and accessing Charting Tools. Here, you will have access to drawing tools that allow you to employ Fibonacci-based techniques as well as harmonic patterns. Measuring tools can be found here as well and will be used if you want to measure your risk or probable gain. Furthermore, tools can be found on the bar on the left of your charting software. These tools will allow you to draw patterns and mark significant price points that you can use for your trades.

However, if you do not make at least one trade a month, you will be charged $10. The company behind the brokerage, Involva Corp, is registered in the Marshall Islands. Simply share your link with a friend, and you can get 20% of the amount that they deposit. VideForex’s registration form will ask for your full name, phone number, email address, password, and preferred currency.

Mobile Trading

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 https://www.forex-world.net/ went to the 5th place winner). Here again, we recommend reading the terms and conditions to fully understand the rules. The minimum deposit requirement to open a live account with Videforex is $250 or equivalent currency for the Bronze account. However, the broker is not regulated by a reputable authority and therefore UK traders deposit at their own risk.

Videforex has its own mobile app which supports the broker’s web-based platform. It is available to download for both Android and iPhone through the respective app stores or from their website. Videforex offers leveraged trading on major, minor and exotic currency pairs. While trading in a demo account, you can develop hands-on experience.

what is videforex

Upon going to the VideForex website you are greeted by a friendly live support representative that you can see and interact with. The live video chat service is available 24/7 to VideForex customers and is accompanied with other contact methods such as email and telephone support. All support methods are very quick to respond and are very friendly, helpful and informative with their responses.

Does Videforex Have An Inactivity Fee?

The lack of information on the VideForex is a bit concerning. For a brokerage that has been in operation for a while now, you’d expect the site to offer a lot more information. Obviously, lack of information doesn’t mean that there is a VideForex scam going on. We’d just prefer to see key details presented front and center. While VideForex is primarily geared towards servicing novice traders, they do offer three different account types that reward traders who make larger deposit amounts.

Options traders will also be glad to find out that they could switch to candlesticks charts which will be discussed below. Traders also get a chance to use unique tools that increase their chances of winning a trade. Furthermore, the clients of Videforex https://www.investorynews.com/ can participate in the competition and win huge rewards. As you can see, the higher you invest, the better features you get. But if you are a beginner, you must stop yourself from depositing high initial amounts by choosing the Bronze account.

If you are new to binary options trading and want a quality experience, the Bronze account is for you. You need to deposit a minimum of $250 to access this account type. In summary, Videforex offers a variety of account types to suit different trading styles and preferences. Each account type has its own advantages and disadvantages and requires different levels of investment and risk tolerance. Therefore, clients should carefully consider their trading goals and needs before choosing an account type.