PerfectMoney is available with up to 1 hour processing time and no fee. Credit/debit card deposits (VISA and MasterCard) will be processed instantly with a 5% transfer fee. Videforex was established in 2016 and is operated by INVOLVA CORP, located in the Marshall Islands. The broker is not registered with any financial authorisation or regulatory body. I like that the potential returns at Videforex are higher than binary platforms I’ve tried in the past.
- The broker claims to provide fast and secure funding and withdrawal methods, as well as guaranteed withdrawal processing within one hour.
- Videforex uses a 3D secure money transfer and SSL certified 256-bit funds processing.
- Not every online broker offers this, making Videforex a good fit for those with limited time or changing schedules.
- In this article, we will review Videforex and evaluate its regulation, platforms, tools, education, markets, accounts, and funding methods.
- There is a 5% transfer fee charged on all credit card deposits, where the is no charge on any other deposit method.
Opt for leveraged CFD cryptocurrency positions, and the fee can climb to 5%. On the downside, the platform is fairly basic versus the likes of MetaTrader 4 (MT4) and MetaTrader 5 (MT5). It will meet the needs of most beginners, but seasoned traders may be disappointed by the lack of advanced features. For example, let’s assume that a company ABC’s stock price currently trades at $24.
Other Trading Fees
Videforex’s trading platform is intuitive and simple, so it could be a good starting point for beginners. One of the best features for novices is the Copy Trading tool, which you can use to copy master traders. Professional traders could deposit in excess of $1,000 to open a Silver account. https://www.day-trading.info/banks-snap-up-new-brazil-local-bonds-as-funds/ This comes with a master class (web session) included, while the gold account features include a personal success manager, as long as you deposit more than $3,000. Most brokers have this requirement set in lots (or micro lots), so the answer was surprising, but not alarming.
To find out more about this broker, make sure you check out the following Videforex review below. One of the most important decisions you can make as a trader is to choose a reputable trading brokerage that’s right for you. While there are numerous viable online trading brokerages out there to choose from, it can still be difficult knowing which one is right for you.
Payments are also verified by Visa and MasterCard using a one-time code. The platform charges a swap fee of 0.07% of the face value of the position to hold a position overnight. Videforex is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. The company’s forgotten password process is straightforward and customers can follow their profiles on social media, such as Twitter and Instagram for live updates. Note also that VideForex does reserve the right to charge $10 per month for each and every month wherein the client has not executed at least one trade.
Technically, it is live video chat support, but do not expect to sit down face-to-face with an agent. Videforex offers 3 live account types; Bronze, Silver, and Gold. The company is licensed in the Marshall Islands, known for offshore trading and the absence of regulation. Traders who deposit funds with a broker with no regulation do so at their own risk. In the UK, financial service providers must be regulated with the Financial Conduct Authority (FCA).
Over the past five years, he has gained experience trading currencies, stocks, options, and futures. Theo’s trading experience led him to test out over one hundred different trading services and he shares his insights in reviews to help other traders. Oddly enough, VideForex does not show bank wire transfer in the list of accepted withdrawal methods, but this could just be an oversight.
Is the Videforex trading platform good for beginners?
When copying the trade of a master trader, the copy-trader must pay a commission to them. Note, there are no third-party platforms such as MetaTrader 4 or 5. Above all, our experts assess whether a broker is trustworthy, taking into how to become a cloud engineer account their regulatory credentials, account safeguards, and reputation in the industry. Compare Videforex with any other broker by selecting the other broker below. No, the broker isn’t regulated or licensed to operate in the US.
Trading on the platform is straightforward for both beginners and experienced investors. It has been engineered to retain usability while offering a variety of sophisticated tools and resources many day traders require. For example, in-depth investing tutorials can walk newbies through the platform. You can fund your account by credit cards (VISA/MasterCard), Bank wire transfer, Bitcoin, Ethereum, Litecoin, Altcoins, Neteller, Skrill, or Perfect Money. The funds will be available for trading immediately, after confirmation from the payment system. Videforex will show a customer’s deposit as pending while it waits for confirmation from its payment system.
Videforex Features
To open an account, UK clients must complete the online registration form. This involves providing identity documents and proof of residence. Traders should select GBP as the base currency when creating an account.
For a brokerage that has been in operation for a while now, you’d expect the site to offer a lot more information. Obviously, lack of information doesn’t mean that there is a VideForex scam going on. New clients are asked to submit an initial deposit in the amount of $250.
Videforex offers binary options and leveraged CFDs on major, minor and exotic currency pairs, a dozen cryptos including Bitcoin, plus commodities like gold. You can also trade major indices like the Dow Jones 30, S&P 500, and FTSE 100 (CFDs only). Overall, there are many questions in regards to the trust of the Videforex company services and the manner they do operate the online trading itself. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and Admiral Markets. But while these are useful features, there is a lack of advanced trading tools for account holders. For example, there is no economic calendar, forex heat map or online trading forum and tutorial.
Videforex Mobile App
Therefore, clients should carefully consider their trading goals and needs before choosing an account type. Even though Seychelles has their own regulatory authority who governs the financial services businesses https://www.forexbox.info/pit-bull-lessons-from-wall-streets-champion-trader/ based here, VideForex remains unregulated by them. While this is somewhat concerning, VideForex comes from a reputable background and has been competently providing trading services since 2016.