It may difficult to understand how some online brokers work. A lot of tools and features can be confusing. Especially for people who are newbies in the sphere. They may need some time to catch the idea of the whole thing and develop their own strategies for fast and easy income. Not all the users wishing to try themselves at online trading can afford making big deposits. Besides, there are not many online brokers who are honest and fair with their clients.
To become successful in trading with online brokers, the main thing is to find the one which may be trusted. VideForex is a trading platform, which is suitable for starting traders. Its simplicity is its great benefit. No need to spend long hours trying to understand the principle of its work and how to use the tools. VideForex lets its traders earn money right away.
The aim of this VideForex review is to give the smallest details about the platform itself, its safety and legitimacy. Besides, the users will find here a brief manual on how to make a profit on VideForex. Hopefully, it will help new clients of the trading platform to learn the work of the broker from the inside and only then decide whether to invest to VideoForex or no.
VideForex was set up in 2017. Its distinctive feature is that it works on its own trading platform. This brokerage company’s registration address is in Seychelles. VideForex is operated by Algobit Ltd.
The company offers binary options and CFD/Forex trading. The choice of assets is very impressive as there are more than 100 different offers. Binary options assets are all divided into four categories: Currencies, Commodities, Crypto, Stocks. CFD/Forex trading has these, plus one more category available – Indices.
VideForex is thought to be a good starting platform for new traders who lack experience, knowledge, and professional acumen. The interface of the broker’s website is simple and the trading process itself doesn’t cause any difficulties. Everything is clear.
As for the trading conditions offered by VideForex, the leverage of the company is set on level 1:100. Some “big players” can call it low, but it is good for the traders choosing low-risk assets. Beginners should also appreciate a very low minimum trade size, which is only $1.
The site of the broker is available in seven languages including French, German, Chinese, Spanish, and Russian. What’s more, the users can choose one of the currencies for running their trading account. Among the possible choices are RUB, EUR, USD, GBP, Bitcoin, Ethereum, Litecoin, and some other cryptocurrencies. Yet the trades are possible only using USD or EUR.
VideForex also offers a “First 3 risk free trades” service to its Silver and Gold accounts owners. It is done to support the financial positions of the clients who have a negative total on the first three transactions. VideForex compensates the lost funds with the bonus money. Yet this sum cannot exceed the amount of a deposit initially made by the user. To activate the offer, the trader has to contact his account manager.
A unique feature of the trading platform is its customer support service. Unlike others, the traders on VideForex can get professional help from beautiful ladies communicating via live video chat. Most users note high professionalism of the customer support team. By the way, it is available in several languages and works round the clock.
Another interesting offer of this trading platform is Copy trading. It was created for those who want the process to go automatically. It is a kind of autopilot in online trading. The difference is that the client himself chooses the trader whose actions will be repeated. It can also be useful for newbies who want to learn how to build effective trading strategies.
The trading platform pays much attention to teaching their users how to create trading strategies that will work for them. A special present is granted to every newly registered trader – a video course on binary options, Forex and CFD trading.
VideForex also differs from many other brokers by giving its clients the possibility to trade even on weekends.
Is VideForex Legit and Safe?
The VideForex broker is registered in an offshore zone. Even though it may seem not safe, the company uses the license of Finance Group Corp. Hence, their users are protected. Besides, the activity of the trading platform is regulated. That’s why it is not difficult to guarantee the safety of the traders’ funds.
The company also do their utmost to safely store the personal data of the clients. They use SSL encryption for this purpose. In addition, to minimize the risks of fraudulent activity at the website, VideForex verifies the identity of all their users.
How to Work with VideForex?
Landing to the main page, it is very easy to find the way through the website. The first thing any new client is offered to do is to go through the registration procedure. It will take not more than a minute or two to fill in the name and surname of the user, telephone number, e-mail address, and password. The currency of the account should also be selected in the registration form.
Having created an account, the user gets to the trading page. To start making money, he needs to deposit at least $250 to his trading account. Just push the “Account funding” button in the top right corner of the page.
After that, the trader gets to the account funding page where he has to submit the amount of money he wants to deposit. Depending on the chosen sum, the user’s account receives a Bronze, Silver or Gold status.
Next, one has to select one of the depositing methods offered by the VideForex trading platform and fulfill the transaction. That’s it! Now the user gets the possibility to start trading assets.
With a positive balance on his account, the client can proceed to the trading page and start making money. By default, all the users get to the binary options trading page. All the assets available may be found on the left side column of the page. The graphics of the trading screen take the middle, whereas the order area is on the right.
To start trading, the client has to select the assets first. After that, he chooses the option type (turbo, intraday or long term), time, and the amount of money to trade. The final step is to push either call or put, depending on the prognosis made by the trader.
In case the trader is interested in CFD/Forex, he only has to choose the assets and fill in the amount of money in the order table. “Buy” or “Sell” buttons will start the trade. There are certain restrictions for users who want to trade CFD/Forex. If the sum of the lost money exceeds the overall amount of deposited funds, the client cannot trade CFD.
The trader can raise the initial sum he has chosen for a trade by pushing a “double up” button in the bottom of the screen. By doing this, he will duplicate the already opened position. The only difference is that it will have a different open price.
Another option available is a rollover. The user can change the expiry time of the option, which is still in process. It may be done on condition that the current option is not profitable, the trader has enough costs on the account (the sum of the trade will be increased by 30%), and the option has at least a quarter of the chosen period to go.
In case the trader has got at least 0.1% of profit on the chosen position, he has the right to use a “sell out” function. It means that he can close the trade before the chosen expiry time. His investments and profit will be returned to the trading account of the user.
VideForex stands out in the background of numerous other brokers due to their own trading platform. Hence, they are responsible for everything that happens on the site, including glitches. It means that no third party should be involved ones some kind of misunderstanding or problem appears.
Another positive thing is that the trading platform is web-based. No need to download the software to be able to trade. The design of the platform is simple, yet the number of tools available makes it very functional. Besides, everything the trader may need can be found on the trading page (e.g. charting tools, fundamental analysis, technical analysis). Everything is in a distance of a mouse click.
Perhaps it is inferior in functionality if compared with some other platforms, but VideForex is still developing. And it is a good choice for those traders who cherish easiness in the work of the service.
VideForex platform is accessible not only on the web but also on mobile devices. Due to a special iOS and Android apps, the traders can “keep their hand on the pulse” wherever they go. The set of functions available in the app allows to trade binary options and CFD, communicate in the live chat, deposit and withdraw funds. The clients wishing to have VideForex on their smartphones and tablets can download the app for free.
Funding Methods and Withdrawals
It is impossible to use VideForex trading platform without registering at the website. Yet even registration doesn’t allow the user to make money. To be able to trade, the clients of the service need to make a deposit to their trading account.
The smallest sum one can invest in VideForex is $250. The deposits are accepted via:
- Bank wire transfer;
- Perfect Money;
When using credit cards to make an investment, the trader has to know that he may be charged a 5% transfer fee. The other deposit methods are free of charge. Speaking about the time the user gets the funds to his account, it should be mentioned that all the methods but Perfect Money are instant. The mentioned way of placing a deposit may take up to one hour to confirm the transaction.
The minimum amount of money one can deposit, using bank wire transfer, is $5000. The funds will be credited to the account within one working day. Besides, $50 fee will be charged by the bank for the transaction performance.
Withdrawal of the costs is possible via:
- Bank wire transfer;
- QIWI Wallet;
- OK Pay;
- Perfect Money;
The smallest sum one can withdraw is $50. To get the right to withdraw the funds, one has to make a 100% turnover of the money he has deposited. Yet this rule works only if the trader hasn’t used any bonuses.
Those who have taken a welcome bonus or any other kind of bonus money has to reach a 300% turnover of the invested funds to be able to withdraw the money.
Yet this is still not everything a VideForex client has to know. Bonus money can never be withdrawn from the trading account. Besides, the trader has to provide a notarized copy of his ID or driving license to verify and prove his identity. A recent utility bill may be required to confirm the user’s home address.
Only in the case a trader can provide all the documents he is asked for, he can get verified. VideForex promises a fast withdrawal (within 1 hour) to all the verified users. However, the verification process may take one or two days.
Withdrawal of the funds can be processed only to the same e-wallet or bank account, which was used for depositing. The only exception is MasterCard. A user can deposit with it but can’t withdraw to this kind of credit card.
Traders wishing to join VideForex can choose between three types of trading accounts. The first one is a Bronzeaccount. It is granted to the users depositing from $250 to $1000. It has quite a nice set of features, which are enough for profitable trading. For example, the user gets a 24/7 customer support via online video chat.
Besides, Bronze members can try out all the features of the trading platform by using a Demo account. It gives a full picture of the binary option of CFD/forex trading without any threat to the costs on the user balance. This feature may be beneficial for the clients who are new in the field and need some time and experience to feel more confident about risking their own money.
In addition, the owner of the Bronze account can claim a 20% bonus on his first deposit made on VideForex.
The most popular type of account is Silver. To get it, the trader has to invest $1001 – $3000. Except for the standard list of services like round the clock live video chat, withdrawal within an hour, Demo account, and Copy Trading tool, the Silver members get:
- A 50% bonus for the first deposit;
- A master class (web session);
- First 3 risk free trades.
When the invested sum of money approaches $3000 – $50000, the client of the trading platform receives a Goldaccount. He gets a personal success manager and 100% bonus to the sum of the deposit. The rest of the features coincide with those of the Silver account.
VideForex is not available for the USA residents. However, it accepts traders from the United Kingdom, Australia, Canada. Besides, the trading platform is open to users from the bulk of European countries including Germany, France, Italy, Luxembourg, Sweden, Norway, and Denmark.
The residents of Qatar, India, United Arab Emirates, Kuwait, Saudi Arabia, Singapore, Hong Kong, Thailand, and South Africa are also accepted. This list is not complete because the traders from a lot of other countries around the world are also welcomed to VideForex.
VideForex Bonus Code
To welcome new clients, VideForex trading platform gives a bonus for the first deposit. Depending on the sum invested, the users can get 20%, 50% or 100% bonus.
20% are granted to those who have deposited $250-$1000. For example, investing $250 and adding a bonus, one can get $300.
A 50% bonus is given to the Silver account users who filled their accounts with $1000 – $3000.
Making a deposit of $3000 or more, the client of the trading platform can claim a 100% bonus.
On the whole, a trader can get up to $100000 of bonus funds per year.
VideForex is “a very young player” on the brokers’ market. Nevertheless, it is definitely worth the attention of the traders, especially those who want to gain experience. Offering simple and easy to navigate user interface, this platform can attract clients who know very little about binary options, CFDs and Forex but want to try themselves at online trading.
The broker not only provides the services to the clients but also takes care of their knowledge in the sphere. Video lessons, web sessions, and detailed information in the FAQ section can be very useful to the novice traders. All in all, VideForex is a trustworthy broker with an interesting bonus policy so, there’s no doubt one should try to make an investment with this company.