Videforex Review and Tutorial 2018
|Traders in United States welcome|
|Videforex Facts & Figures|
New Forex broker Videforex can accept US clients and accounts can be funded in a range of cryptocurrencies.
Since its launch in 2017, the popularity of the CFD, forex and binary options broker VideForex.com is growing. Boasting its own proprietary financial trading software and platform, it caters for day traders of all experience levels. This page will offer a detailed review of this new brokerage, covering everything from accounts and costs to platforms and regulation. Finally, after considering the benefits and risks, a verdict as to whether this firm makes the list of best day trading brokers will be given.
A Brief History
VideForex.com may have only launched in 2017, but the company behind this new brokerage is also in charge of established BinaryMate. A credible company who is thought to stand by the safety of its traders with a proactive attitude to the protection of funds. So, what does their latest offering, VideForex.com have to offer?
Minimum Initial Deposit
If you are new to day trading, you don’t want hefty minimum deposit requirements. You probably want to dip your toe in the water before you take the plunge. Fortunately, VideForex.com requires an around industry normal deposit of $250 for new trading accounts.
It is also important to note, that whether you’re day trading on VideForex.com for forex, CFDs, or binary options, the minimum requirements will not change.
Spreads & Commissions
Day trading fees and costs can quickly stack up. So, selecting a broker that offers competitive spreads is important. With VideForex.com a spread is normally applied. The spread is dynamic for particular instruments. It will take liquidity and external markets for the underlying financial instrument into account.
Whilst they are not necessarily the cheapest broker on the market they are by no means the most expensive. This means you hopefully avoid the brokers whose fees are so low you pay the price in poor execution speeds and an unreliable platform. Whilst the costs at more expensive brokers will significantly cut into your end of day profits.
VideForex.com do offer leveraged trading. This effectively allows you to borrow money to strengthen your position. The benefit to this is that it could significantly increase your profit potential. However, it also comes with the risk that losses will be magnified.
The company restricts all customers by default to a maximum multiplier of 1:100, in line with legislation. In addition, a customer’s loss is limited to their original investment amount, so the remaining amount of equity is protected.
VideForex.com can charge a commission for opening an un-leveraged cryptocurrency CFD position. This could be anywhere from 1 to 2.5% of the transaction. Opt for leveraged CFD cryptocurrency positions and the fee could climb to 5%.
So, if you are looking for forex leverage, VideForex.com can tick that box. Just ensure your strategy and money management system takes into account potential losses.
Other Trading Fees
When you are making a high volume of trades each day, costs can quickly add up. That is why you need to look for trusted online day trading brokers. VideForex.com is one of the limited numbers of brokers who attempt to make their fee structure as transparent as possible.
However, it is worth pointing out that VideForex.com reserve the right to charge a customer a swap fee of 0.07% of the face value of the position, if they wish to hold a position overnight.
It is also worth highlighting that there is no maintenance or registration charge when you sign up for an account with VideForex.com.
VideForex.com Trading Platform
As customer reviews of VideForex.com highlight, one of the unique features of this online broker is that they have chosen to design and create their own in-house trading platform. Whilst many will be used to the MetaTrader 4 (MT4) platform, there are certain advantages to the approach taken by VideForex.com:
- By not using a third-party platform, they can ensure both the quality and reliability of their online trading platform.
- VideForex.com know precisely what is happening to and on their platform at all times. Hopefully, this can streamline the querying process and ensure any problems and glitches can be ironed out swiftly.
Day trading on the videforex.com platform is straightforward to get to grips with for both beginners and experienced traders. It has been specifically engineered to retain usability, whilst still offering the variety of sophisticated trading tools and resources many day traders require.
The sleek system makes selecting your financial instrument a hassle-free process. You can get to the currency pairs, commodities and indices of your choice with just a few clicks. Plus, not only do you have your major currency pairings, but you also have access to cryptocurrency pairings and fixed return options.
You will also find that because their platform is web-based, no lengthy downloads are required.
A useful additional feature of the platform comes in the form of their social trading feature, also known as ‘copy trading’. This not only allows you to learn from experienced and successful traders, but it enables you to actually copy the trades of high earning traders.
There currently exists no VideForex.com apps options. However, this is partly because they are a relatively new company and there are plans to release their day trading software in the form of an app. So, in the not too distant future, day traders will have this option as well.
Methods of Payment
If you’re using VideForex.com from the UK, US, Europe, or anywhere else, you can deposit and withdraw money conveniently. Videforex.com have embraced the world of digital currencies, so you can now use any of the following methods:
- Bank wire transfer
- Credit cards (VISA/MasterCard)
- Perfect Money
This should put all customers at ease, knowing their funds are easily accessible.
Whether you are trading VideForex.com CFDs, binary options, or forex, you will have the choice of three different accounts. The amount you deposit will depend on which account type you are eligible for. The three options are as follows:
- Bronze – The minimum deposit is $250. With this account, you benefit from withdrawals in one hour, 24/7 live video chat support, a demo account option, plus their copy trading tool.
- Silver – To qualify for the silver account you must deposit a minimum of $1000. You will then benefit from all of the Bronze features, plus you get a personal success manager and a master class web session.
- Gold – This requires a minimum deposit of $3,000. For that, you will get all the Silver features, plus a bonus of 100%. You will also benefit from an individual account manager, plus have access to a Swiss pre-paid card.
As you can see, the greater your initial capital, the more day trading help you will receive. The switched on intraday trader will be aware that often, the greater tools and resources at your disposal, the better your chances of generating earnings.
Once you have made a deposit, you gain access to a VideForex.com demo account. This is the ideal place to develop a strategy and get familiar with market conditions using simulated money. Then, when you are confident, you can start putting real capital on the line.
Using practice accounts like the one offered by VideForex.com remain one of the top day trading tips for beginners. For more useful pointers, see our tips page.
One of most interesting features that this 2018 review of VideForex.com has found, is their weekly contests.
There is no entry cost and twenty winners are listed each week. Both beginners and experienced traders can compete, as all accounts automatically participate. The best part though, a prize fund of $20,000.
Safety & Security
As cybersecurity is on the rise and online scams prevalent, being able to trust your broker with your confidential data is paramount. Fortunately, security at VideForex.com is a priority.
They use a high-tech, sophisticated system to bring you 100% secure trading and full data protection for all customers.
Regulation & License
Unfortunately, day trading websites sometimes suffer from bad press as a result of fraudsters. This makes it all the more important to check your broker can be trusted.
Whilst VideForex.com do comply with financial regulation standards, they are not limited to a specific country’s regulatory framework. They are licensed by the Finance Group Corp, who are located at, 2nd Floor, Transpacific Haus, Lini Highway, Vanuatu. It’s worth noting this means VideForex.com is not regulated by CFTC, like most US forex brokers.
The best online trading firms need to tick plenty of boxes, regardless of whether you’re forex day trading, or interested in CFDs and binary options. Customer reviews of VideForex.com reveal there are numerous benefits to this broker:
- Accessibility – They facilitate day trading for global customers, including the USA and Canada.
- Low minimum trade size – You can enter positions with just $1. This is ideal for beginners and those with limited start-up capital.
- Funding methods – VideForex.com facilitate payments via a range of payment types, from credit cards to cryptocurrencies.
- Customer support – Customer support at VideForex.com is fast and reliable. Very few brokers offer the 24/7 multi-lingual video support found on their system. In day trading, every second counts, so having any glitches or queries remedied and answered efficiently can prove essential.
- Non-stop trading – You can trade every day and through the weekends. This is ideal for busy traders who have to fit their trading around other commitments.
- Withdrawal speed – Nothing dulls a win than having a considerable wait to get hold of your profits. If you day trade with VideForex.com, they guarantee your withdrawals will be processed within one hour.
- Trading contests – VideForex.com regularly run trading contests. Not only are they great practice, but there are also cash prices. You will find more details on these competitions below.
Despite the numerous benefits, there remain certain drawbacks to day trading with VideForex.com:
- Web-based limitations – Many of the best online day trading brokers offer a variety of accessible trading platforms. Day trading on VideForex.com, however, restricts you to just their web-based platform. This means all trades must be placed through their website. Having said that, some traders will find this straightforward system convenient.
- Restricted additions – As a result of their web-based platform, you are unable to utilise certain systems, such as forex expert advisors. It may also mean other indicators and tools will not be compatible.
- No app – If you place many of your day trades when you are on the move, a trading app can prove useful. As it currently stands, VideForex.com do not offer such a service. However, this is partly because they are still very new. VideForex.com have ensured a mobile app is currently under construction.
VideForex.com Trading Hours
At VideForex.com, you can day trade binary options, forex, and CFDs 24/7. Not every online broker offers this, making VideForex.com a good fit for those with limited time or changing schedules. Quite simply, it ensures entering a position on the way to work, before bed, or late on a Sunday evening will always be an option.
Contact & Customer Support
One of the greatest selling points in this VideForex.com review is their new live video chat feature. You can access this feature directly from their homepage and this should afford traders peace of mind.
Agents will be on hand to remedy any problems, via a public or private live video link. This standard of support assistance is much higher than the industry average. This makes VideForex.com a strong contender for day traders still finding their feet, or those that want re-assurance that live support is just a few clicks away.
If you wanted to contact the company who owns the Forex, CFD and binary options broker, they are called Vide Projects Ltd. Their registration number is 11461 and their address is 306 Premier Building, Albert Street, Victoria, Mahe, Seychelles.
Contact numbers are:
- USA – 849 937 0843
- Australia – 61 8 5550 7288
You can also email support@Videforex.com
If you are looking for the best online day trading brokers, then VideForex.com deserves a look in. Despite being relatively new, it offers attractive weekly contests, a bespoke trading platform, plus live video support. In addition, with a number of online trading accounts, plus straightforward setup and use, this broker is an attractive proposition for both beginners and experienced traders.
For more forex, CFD, binary options, and other broker comparisons, see our brokers list.
Videforex accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
|New Forex broker Videforex can accept US clients and accounts can be funded in a range of cryptocurrencies.|