Since its launching in 2017, the prevalence of this CFD, binary and fx options broker VideForex.com is growing. This page will supply an in-depth review of the new broker, covering everything from accounts and prices to regulation and platforms. Ultimately, after considering the advantages and disadvantages, a verdict regarding if this company makes the list of our top brokers will be handed out.
A Quick Look At History
VideForex.com might have just started out in 2017, but the organization behind this brand new broker is also responsible for the recognized BinaryMate. A credible company which is considered to stand by the security of its traders using a proactive approach to the security of capital. Thus, what will their most recent offering, VideForex.com have to offer you?
Minimum Initial Deposit
If you’re new to day trading, then you do not want hefty minimum deposit requirements. You most likely need to dip your toe into the water until you take the plunge. Luckily, VideForex.com needs an around business standard deposit of $250 for new trading accounts. They also offer a 100% investment bonus for the first investment (check the T&Cs suit before using it).
It is also necessary to remember that the minimum requirements do not
change if you are day trading for fx, CFDs, or binary options on daytime.
Spreads & Commissions
Day trading charges and costs may easily pile up. Thus, picking a broker that provides competitive spreads is vital. The spread is dynamic for specific instruments. It’ll take liquidity and outside markets for the underlying financial instrument into consideration.
Whilst they’re not necessarily the least expensive broker in the marketplace they’re definitely not the the most expensive. This indicates that you can avoid the brokers whose prices are so low you pay the cost in poor execution rates and an unreliable platform. Whilst the prices at more costly broker will considerably cut into your end of day gains.
VideForex.com do provide leveraged trading. This effectively permits you to borrow cash to fortify your own position. The advantage is that it will substantially increase the income potential. But, in addition, it includes the risk that losses will likely be embiggened.
By practice, the company limits its consumers to a fixed 1:100 multiplier, according to regulations. In fact, a customer’s liability is limited to their initial investment sum, thereby retaining the remaining equity balance.
VideForex.com will charge a fee to open an unleveraged CFD position. That could be 1-2.5% of the sale. Choose leveraged CFD cryptocurrency positions and the fee will grow to 5%.
Consequently, if you’re searching for fx leverage, then VideForex.com can tick this box. Just make sure your plan and cash management strategy takes into consideration possible losses.
Other Trading Charges
Whenever you’re creating a large volume of transactions every day, prices can quickly accumulate. That’s the reason you have to search for reputable online day trading brokers. VideForex.com is among those restricted quantities of brokers who try to present their fee arrangement as clear as possible.
But it’s worth pointing out that VideForex.com reserve the right to bill a client a swap fee of 0.07 percent of their face value of their position, should they like to maintain a position immediately.
It’s also worth noting that there’s not any upkeep or enrollment fee when you register for an account with VideForex.com.
Lastly, keep your eye on their official site for joining promos and promo codes. Subscribe at the ideal time and you might gain from free transactions.
VideForex.com Trading Platform
As consumer testimonials of VideForex.com highlight, among the exceptional characteristics of this internet broker is they have selected to design and make their very own in-house trading platform.
- Rather than employing a third party platform, they could guarantee the quality and trustworthiness of their internet trading platform.
- VideForex.com know exactly what’s occurring to and on their platform in any moment. With luck, this will streamline the querying process and ensure any issues and glitches could be ironed out quickly.
Day trading over the videforex.com platform is simple to get to grips for both novices and seasoned traders. It’s been specially designed to keep usability, while offering the number of advanced trading tools and tools a lot of day traders need. For instance, in-depth trading tutorials may walk new traders throughout the platform.
The slick system makes choosing your fiscal instrument a hassle-free procedure. You are able to get to the money pairs, commodities and indices of your selection with just a couple of clicks.
You’ll also discover that since their stage is online, no longer are downloads required.
A useful additional feature of the system comes from the form of their societal trading attribute, also called ‘copy trading’. This not only permits you to learn from seasoned and successful traders, but it allows you to really replicate the transactions of top earning traders.
There currently aren’t any VideForex.com application choices. Nonetheless, this is partially because they’re a relatively new business and there are ways to launch their day trading applications in the kind of an app. Therefore, in the not too distant future, day traders will probably have this choice too.
Methods of Payment
If you are using VideForex.com in the United Kingdom, the States, Europe, or anywhere else, then you can deposit and withdraw cash handily. Videforex.com have adopted the world of digital monies, so you can use some of the following approaches:
- Bank wire transfer
- Credit cards (VISA/MasterCard)
- Perfect Money
This ought to place all clients at ease, understanding their capital may be accessible.
Whether you’re trading VideForex.com CFDs, binary choices, or fx, you’ll have the option of three distinct accounts. The amount you deposit will be dependent on which account type you’re qualified for. The 3 choices are as follows:
- Bronze – With this account, you gain from withdrawals in 1 hour, 24/7 live video chat service, a demo account alternative, and their copy trading instrument. The amount for deposit is minimum $250.
- Silver – To qualify for the silver account you have to deposit a minimum of $1000. Then you will gain from each Bronze characteristic, and you receive a private success mananger and a master course web session.
- Gold – This needs a minimum deposit of $3,000. For this, you receive all of the Silver attributes, and a bonus of 100%. You’ll also gain from a individual account manager, and have access to a Swiss prepaid card card.
As you can see, the larger your first capital, the longer trading aid you will get. The switched intraday trader will probably take note that frequently, the larger resources and tools available, the better your odds of earning profits.
When you’ve put in a deposit, then you obtain access to some VideForex.com demo accounts. This is the perfect spot to develop a plan and get knowledgeable about market conditions employing simulated cash. Then, once you’re confident, you should begin putting actual funds at stake.
Employing practice accounts such as the one provided by VideForex.com stays one of the greatest day trading strategies for beginners.
One of most fascinating features are their weekly competitions.
There’s zero entry fee and twenty six winners are recorded weekly. Both novices and expert traders may compete, as all balances automatically participate. The best part however – a prize fund of $20,000.
Safety & Security
As cybersecurity is growing and internet scams are widespread, being able to trust your broker with your confidential information is paramount.
They utilize a high-tech, sophisticated method to deliver you 100% secure trading and total data security for all clients.
Regulation & License
Regrettably, day trading sites occasionally suffer bad press because of fraudsters. This makes it even more crucial that you look at your broker and can he be reliable.
Whilst VideForex.com do comply with all financial regulation criteria, they aren’t confined to a particular nation’s regulatory framework. It is worth noting that this means VideForex.com isn’t controlled by CFTC, such as most US foreign exchange brokers.
The ideal internet trading companies will need to tick lots of boxes, whether or not you are fx trading, or considering CFDs and binary choices. Client reviews of VideForex.com show there are various advantages to this agent:
- Access – They do day trading for international clients, including the USA and Canada.
- Small amount of exchange – This is great for beginners and people who have limited startup capital.
- Funding mechanisms – VideForex.com supports transfers through a range of forms of payment, including credit cards and cryptos.
- Customer service – Client service at VideForex.com is quick and dependable. Not many agents offer you the 24/7 multi-lingual video service found in their own system. In day drafting, every moment counts, therefore mended glitches or having questions replied effectively can prove crucial. This is great for active traders who need to match their trading to other obligations.
- Non-stop trade – Trade is available every day and over the holidays.
- Withdrawal speed – Nothing nums more than with a substantial wait to get to your own profits. In case you day trade using VideForex.com, they ensure that your withdrawals will be processed within a hour.
- Trading competitions – VideForex.com often run trading competitions. Not only are they excellent practice, but additionally, there are cash awards. There is additional information on these contests below.
Regardless of the many advantages, there remain definite drawbacks:
- Web-based boundaries – This implies all transactions have to be put through their site, because they have their own web-based platform. Having said this, some traders will see this simple system as suitable.
- Limited additions – You are unable to access other tools, such as fx specialist advisors, due to their web-based site. It might also mean different indicators and resources won’t be compatible.
- No application – Should you place a lot of your day transactions when you’re on the move, a trading app can prove to be useful. As it now stands, VideForex.com don’t provide this kind of service. Nonetheless, this is partially since they’re still quite new. VideForex.com have ensured that a mobile application is presently under construction.
VideForex.com Trading Hours
In VideForex.com, you are able to day trade binary choices, foreign exchange, and CFDs 24/7. Not every online broker provides this, making VideForex.com a fantastic match for anyone who have limited time or altering schedules. Quite simply, it means entering a position on the way to work, before bed, or late on a Sunday will always be a choice for you.
Contact & Customer Care
Among the best selling moments on this VideForex.com review is their brand new live video chat attribute. You may get this feature directly from their homepage, which should manage traders and put them at ease. It is accessible to a broad array of users, from US to Australian customers.
Brokers will be on hand to mend any issues, via a private or public live video connection. This standard of service assistance is a lot greater than the market average. This makes VideForex.com a powerful ally for day traders still finding their feet, or the ones that desire re-assurance that live support is only a couple of clicks away.
If you wished to speak to the company who possesses the fx, CFD and binary options broker, they’re known as Vide Projects Ltd. The Reg. No. is 11461 and they are located at 306 Premier Building, Albert Street, Victoria, Mahe, Seychelles.
Phone numbers are:
- USA – 849 937 0843
- Australia – 61 8 5550 7288
It is also possible to email: [email protected]
If you’re searching for the ideal online day trading broker, then VideForex.com warrants a look at. Despite being pretty much a novice on the scene, it hands out attractive weekly competitions, an fx platform, and video service which is live. Additionally, offering several online trading accounts, as well as a simple installation and usage, this agent is an appealing proposition for both novices and seasoned traders.
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 states.