In today’s time, Who doesn’t want to make money and get rich? While some opt for risky ways like gambling & betting, ingenious ones choose Trading as it offers good returns with low risks while also being safe and legal. However, successful trading starts with a good broker and one such exception is VideForex. Let’s have insights into the platform’s services through this detailed VideForex Review 2023.
VideForex is a Forex, CFD and Binary Options broker offering comprehensive trading services to global traders. It allows users to access 100+ underlying assets across three major financial markets through its proprietary trading platform. However, “Does it suits your trading style and conditions?” remains the biggest question when choosing or switching to a new platform.
Don’t worry! We got your back by bringing up this detailed VideForex Review 2023, which will have a detailed analysis of the platform’s accounts, fees, and regulations. After considering all the benefits and drawbacks, we will conclude whether it will make it into the list of the best trading platforms or not.
VideForex Review 2023: Quick Guide
| Official Website | https://videforex.io/ |
| Establishment Year | 2017 |
| Services | CFD Trading, Binary Options Trading |
| Minimum Deposit | $250 |
| Tradable Instruments | 100+ |
| Payment Methods | Bank/Wire Transfers & E-wallets |
| Bonus | Upto 100% |
What Is VideForex?
VideForex is a leading trading platform designed especially for day traders of all levels of expertise. Along with trading services, the platform allows users to earn passive income and offers three types of accounts that differ in various functions.
Meanwhile, the broker carries out its operations under the name of INVOLVA CORP, a reputable company with a track record of protecting its clients’ funds.
Since its inception in 2017, the broker has been operating in all major nations except the US and some parts of Asia & Europe.
Being a global brokerage firm, the platform is available in multiple languages, including English, Spanish, Thai, Dutch, Russian, and French.
After researching the broker’s services, we analyzed its regulatory approvals, which in fact, is the main focus of this detailed VideForex Review. So let’s have a look at whether VideForex is a scam or not.
Is VideForex Legit?
No, VideForex is not legit, but a scam as it lacks a regulatory license, closed its original website, i.e., www. videforex. com and has below-average user ratings.
While researching for VideForex Review, we went through many review forums and were surprised to see plenty of VideForex scam-related complaints.
However, the platform denies all the allegations and claims to hold a regulatory license. But we were unable to find any license on the broker’s website.
Overall, we can conclude that VideForex is a scam broker and advises you to deal with it at your own risk.
VideForex Review 2023: Available Trading Instruments
The worst part we came across while writing this detailed VideForex review is the platform’s limited offering of trading instruments.
Firstly, it offers only 100 underlying assets for trading & secondly, these assets are limited to just Stocks, Commodities, and Forex. No other information regarding the product offering is available on the website.
Available VideForex Products include
- Forex (Major, Minor & Exotic Currency Pairs Available)
- Commodities ( Soft, Hard commodities & Precious Metals Available)
- Stocks (Facebook, Google & Netflix)
Our Verdict: Limited assets offering is the major drawback for the platform. However, you can go for our best recommendation in this case – Capitalix, Investby which offers 250+ assets across all six major markets.
VideForex Fees, Commission & Spreads Reviewed
The VideForex fee structure is not as transparent as it should be. We had to research a lot to find out the broker’s cost and pricing. Although we still couldn’t figure out the exact spread charged by the broker.
Through this detailed VideForex Review, take a closer look at the platform’s fee structure:
| Fee Type | Amount |
| Spreads | Varies (Exact Info Not Available) |
| Commission | 2.5% (Non-leverage Positions) & 5% (Leveraged Positions) |
| SWAP Fee | 0.07% of the face value of opened position |
| Inactivity Fee | $10 per month |
| Deposit & Withdrawal Fees | Zero |
Verdict On VideForex Fee: According to our VideForex review 2023, the fee & other charges seem to be slightly higher than other brokers. In fact, the broker is charging both spreads and commissions, which is quite distressing. However, we advise you to go for a low-cost broker – Capitalix, as it doesn’t charge any commission and offers competitive & industry-best spreads.
VideForex Review 2023: Deposits & Withdrawal Methods
In terms of funding & withdrawal options, VideForex broker services are impressive. And accepting deposits through Cryptocurrencies remains the most sought-after feature. As per our VideForex Review, the available payment methods and processing times are much better than any other brokers.
Let’s have a look at available deposit & withdrawal methods:
| Payment Methods | Transfer Fee | Deposit Time | Withdrawal Time |
| Credit Card (Visa, Mastercard) | 5% | Instant | Upto 1 Hour |
| Bitcoin | 0 | Instant | Upto 1 Hour |
| Ethereum | 0 | Instant | Upto 1 Hour |
| Altcoins | 0 | Instant | Upto 1 Hour |
VideForex Review 2023: What Are The Available Account Types?
VideForex accounts offering includes three different trading accounts designed for both novice and professional traders alike. The amount you deposit will determine your eligibility for a specific account type. For instance, the minimum deposit for a Bronze account is $250, while it goes up to $3,000 for a Gold account.
Here’s a quick overview of features offered by VideForex broker:
| Features | Bronze | Silver | Gold |
| Minimum Deposit | $250 | $1,000 | $3,000 |
| Customer Support | 24/7 Live video chat support | 24/7 Live video chat support | 24/7 Live video chat support |
| Withdrawal | Instant (Upto 1 Hour) | Instant (Upto 1 Hour) | Instant (Upto 1 Hour) |
| Access to Videforex Demo Account | Yes | Yes | Yes |
| Copy Trading tool | Available | Available | Available |
| Bonus | 20% | 50% | 100% |
| Master class (web session) | – | Yes | Yes |
| Risk-free trades* | – | First 3 | First 3 |
| Personal success manager | No | No | Yes |
Our Verdict: According to our findings from VideForex Review 2023, the account offerings of the platform are appreciable, making it convenient for even a beginner to use the platform’s services.
How To Open A VideForex Account?
The account opening process of the VideForex trading platform is quite distressing and lengthy. You may have to wait until a few days to get your account verified. So, if you’re still willing to get started with this broker, follow these steps to open an account with the VideForex trading platform.
- On the homepage, click on the “Sign Up” button. An application form will open.
- Fill in your details, such as your Name, Phone Number, Email, and Password, and select your base currency.
- After clicking ‘Next,’ your account will be activated. However, you’ll need to verify it to enjoy the platform’s complete services.
- For that, upload a scanned copy of identity documents. Post verification, you can start trading on the platform.
Does VideForex Offer Leverage Trading?
Yes, the broker offers leverage trading; but it lacks much information on the exact amount of leverage it offers. The unavailability of information on leverage raises red flags about the platform’s transparency.
You’ll need to create an account first and deposit funds to get exact information. However, we still advise you to move to a more safe and highly leveraged broker like Capitalix, which offers upto a 1:200 leverage ratio on all instruments.
VideForex Review 2023: Trading Platforms & User-Interface
The broker’s website is clean and offers a user-friendly interface. The easy-to-navigate buttons make it easier for even beginners to use the platform. However, it lacks offering MT4 & MT5 platforms.
Currently, the broker is offering services via two trading platforms: A web-based and a proprietary trading app. So, for people looking out for features, here’s a quick overview of each platform and what it has to offer.
Web-based Platform
- Instant trade execution
- Advanced charting tools
- Access to trade history
VideForex App
- Instant execution of trades
- Shows live charts of every option
- Allows traders to view their entire trade history
- Same VideForex login credentials as the web-based platform
- Free download for iOS and Android
Review Of VideForex Bonus & Promotion
The platform offers generous bonuses and referral programs. It can be said as the platform’s most impressive feature. Currently, there are four promotional programs ongoing right now. Let’s have a look at them:
Trading Contest
- Free registration
- 20 Winners per week
- Prize fund – $20 000
Bonus
- Bronze Account – 25%
- Silver Account – 50%
- Gold Account – 100%
VideForex Referral Program
The platform allows users to earn up to 20% commission on each successful referral. The unique VideForex promo code is available in your profile.
Giveaway
The participants of the VideForex giveaway program can win upto a 100% bonus and a chance to win more exciting prizes like Apple Watch, iPhone 12 Pro. iPad Pro and iMac.
VideForex Review 2023: Insights Into Affiliate Program
The broker’s affiliate program is generous, offering a huge commission on each referral. Here are some of the benefits of joining VideForex as an affiliate:
- 60% from the first + 20% on lifetime deposits
- UP TO $400 CPA
- 5% Webmaster referral
- Weekly payouts
- Personalized Dashboard
VideForex.io Review 2023: Customer Support
The broker offers good customer support services via live video chat support. The feature is unique and rare, making the platform easier to use for newbies.
Additionally, phone support is available in several countries. You can also connect to the customer agent through email support.
- Email: [email protected]
Videforex Customer Service Number
- Thai – 02-21345671
- Chinese – 3-395-0396
- English – +1-829-9476393
- Russian – +7-499-7033774
- Singapore – 965-65425142
- Australia – 61-8-5550-7288
VideForex Review 2023: Pros & Cons
| Pros | Cons |
| Small minimum trade size
Multiple funding options |
Offshore Broker |
| Effective customer support | Unavailability of MT4 & MT5 |
| Instant deposits & Withdrawals | |
| Generous Trading contests |
VideForex Alternatives
While scrolling the web, we found three forex brokers that can be a better alternative to the platform. Let’s have a look at them through this detailed comparison table.
VideForex vs Capitalix
| Features | VideForex | Capitalix |
| Markets | Forex, Stocks, Commodities | Forex, Stocks, Commodities, Crypto, Indices |
| Minimum Deposit | $250 | $250 |
| Regulators | Unregulated | CySEC |
| Bonus | 100% deposit bonus up to $3000 | – |
| Minimum Trade | $1 | 0.01 Lots |
VideForex vs InstaForex
| Features | VideForex | InstaForex |
| Markets | Forex, Stocks, Commodities | Forex, Stocks, Commodities, Crypto |
| Minimum Deposit | $250 | $1 |
| Regulators | Unregulated | BVI FSC |
| Bonus | 100% deposit bonus up to $3000 | 30% – 100% Welcome Bonus |
| Minimum Trade | $1 | 0.01 Lots |
VideForex vs BinaryCent
| Features | VideForex | BinaryCent |
| Markets | Forex, Stocks, Commodities | Forex, Stocks, Commodities, Crypto |
| Minimum Deposit | $250 | $250 |
| Regulators | Unregulated | VFSC |
| Bonus | 100% deposit bonus up to $3000 | 20% – 100% Welcome Bonus |
| Minimum Trade | $1 | $0.10 |
VideForex Reviews & Users Ratings
Looking at the VideForex users’ reviews, the platform doesn’t seem to have a good reputation in the market. Many existing users of the platforms are complaining about it being a scam.
Conclusion
As we are concluding this detailed VideForex review 2023, it’s time for our verdict. If you consider the platform’s generous bonuses, contests, good customer support & account offering, VideForex deserves a try.
However, considering the broker’s regulations, fee & leverage offerings, we would only advise you to stay away from the platform. Instead, choose a better option, i.e., Capitalix.
The broker is well regulated, offers 250+ underlying assets for trading, high leverage up to 1:200 & industry-best pricing. You should definitely give it a try by opening a free demo account now.
FAQs
How To Resolve Videforex Withdrawal Issues?
In case you are facing any issues while raising a withdrawal request or your request is on hold, immediately contact customer support at [email protected]
Is Videforex Regulated?
No, Videforex is not regulated by any global financial regulator. It is an offshore broker, so you’ll need to be extra cautious while trading with this broker.
How To Withdraw Money From Videforex?
To withdraw money from your Videforex account, follow these steps:
- On the dashboard, click on the ‘Withdraw’ icon.
- Now, enter the amount and select your payment method.
- Click on the Confirm icon.
Is VideForex A Legit Broker?
No, VideForex doesn’t seem to be a legit broker, as it lacks a regulatory license and has a majority of scam related complaints from its existing users.
What Is The Minimum Deposit For VideForex?
The VideForex minimum deposit is set at $250. The minimum deposit requirements are comparatively higher than other brokers.
Does VideForex Have An App?
Yes, the broker offers a dedicated mobile application – VideForex app for traders who like to trade on the go.
How Much Does VideForex Cost?
The spread charged by the broker is unknown, while it charges a 2.5% commission and an inactivity fee of $10.
Who Regulates VideForex?
The broker is self-regulated; however, it raises red flags among new investors as no global regulator oversees the platform’s activities.
How Long Does It Take To Withdraw From VideForex?
The VideForex withdrawal time is 1 Hour. It processes most of the withdrawal applications instantly; however, a few applications may take up to 3-5 business days.
How To Deposit Funds Into My VideForex Trading Account?
To deposit money into your Videforex account, follow these steps:
- On the dashboard, click on the ‘Deposit’ icon.
- Now, enter the amount and select your payment method.
- Click on the Confirm icon.
Can You Use Videforex In USA?
No, VideForex services are restricted in the USA. There may be many reasons for this restriction, including a lack of regulatory approval.
Is There Any Maintenance Or Registration Fee On VideForex?
No, it is free, and there are no hidden charges associated with account maintenance or registration.
