Detailed Videforex Broker Review
Videforex company is managed by a legal entity Vide Projects Ltd., which was registered in 2016. As you understand, the broker is quite young. And we have to check, it is somewhat reliable for cooperation.
The main specialization of the company is providing access to trading with such assets as currency pairs, CFDs and binary options. STP / ECN accounts are available for opening. This means that it will be possible to trade with access to the interbank market, and at the broker’s internal quotes. The difference, of course, lies in the minimum deposit and a number of trading conditions.
General information about Videforex:
• Legal address – Seychelles;
• Languages of support – English, Russian;
• The minimum deposit is $ 250;
• Binary options trading – yes, from $ 1 per rate (yield up to 90%);
• Regulation – yes.
Videforex quick overview
The official website of the forex broker is made in both Russian and English. This implies that the company is focused on traders from the CIS, Europe and Asia. The site has a modern user interface, even if it is made somewhat template. After analyzing the domain, we found that the site was opened in 2016. His attendance is small (several hundred users per day). About 30% come from the United States, although brokerage services are not provided to citizens of the United States of America.
It can be concluded that the company is new and has a small number of real customers at the moment. This is a negative factor in favor of Videforex.
How to open an account in Videforex and earn money on currency pairs, CFDs and binary options?
To register on the broker’s site, you must enter the basic data, including name, contact information, address of residence. Verification is traditionally mandatory. To do this, it is proposed to upload scanned personal documents through a personal account (to confirm your identity and registration address). Personal identification is required before the account replenishment procedure.
On average, approval (moderation) of data takes 2-5 hours of work.
You can open an account with this fx broker in the following currencies: USD, EUR, GBP, RUB, Bitcoin, Litecoin, Ethereum, Dash. Unlike many similar brokers, Videforex has a maximum limit on the size of an account of 50 thousand units of any asset. Leverage for all unlimited users is 1: 100.
There are three categories of accounts:
Demo account is available to all. Between themselves, certain types of accounts differ only in the size of the initial deposit. But in the silver and gold account an additional bonus of 100% of the initial deposit is offered.
Trading Features: PAMM Accounts and Binary Options
As the main investment tool, the broker offers users to open a PAMM account. But it turned out that this service does not imply the actual transfer of funds to the management of the trader. This is just an online help from a manager or account copying service. Therefore, for a company’s unfinished investment program, it is possible to rate it unsatisfactory.
On the site you can find a large amount of advertising information about the binary options service. Indeed, users are offered three options of options: intraday, turbo and long term. The minimum opening amount is $ 1. Several dozens of key financial instruments are available for trading.
As for the automation of trading, the broker does not even allow installing automatic forex robots. Since the trading platform is used by the authoring broker, in browser mode. Through Metatrader trading is not carried out. The total number of financial instruments exceeds 140 units.
How does customer support work?
For consultation provides 2 phone numbers:
• +1 849 937 0843 (Seychelles);
• +7 499 7033774 (Russia).
Also, communication is possible via online chat (the widget has been added to the website of the Videforex brokerage company).
Brokerage company Videforex, registered in the Seychelles, has a number of controversial conditions for traders. Firstly, it is doubtful the small number of visitors and the unknown broker. Secondly, binary options, as a trading instrument, are no longer relevant. And many countries completely banned it on their territory (in particular, the United States). The broker also did not form a quality section with training and analytics. There are no investment programs.
Of the advantages, it is possible to single out only the simplicity in registration, the presence of a unique trading platform, the yield up to 90% when trading binary options.