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Videforex Review and Tutorial 2020
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Since its launch in 2020, 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 2020, 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. They are also offering a 100% deposit match bonus on any first deposit (check the T&Cs suit before using it).
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.
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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.
Finally, keep an eye on their official website for joining offers and promo codes. Sign up at the right time and you could benefit from free trades.
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, while still offering the variety of sophisticated trading tools and resources many day traders require. For example, in-depth trading tutorials can walk new traders through the platform.
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.
One of most interesting features that this 2020 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. It’s available to a wide range of users, from US to Australian clients.
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 [email protected]
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.
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.
Trusted Binary Options Brokers List
During the last few years, an increasing number of people are getting involved in binary options trading. Similarly, the number of binary options brokers has increased to cater for this growing interest. Currently, it is estimated that there are more than 450 brokers who are providing these services. The high number of brokers available is good for the industry because it necessitates competition and hard work to meet the various needs of traders.
Binary Options Brokers Reviews
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Before channeling your hard-earned money to open an account with any binary options broker, it’s crucial you understand how they operate and whether they are suitable to hold your cash. The choice of a broker can really be the difference between having a successful career or failing to realize your dreams.
Furthermore, we have categorized the various brokers based on their respective regions. This way, you can easily locate a good broker operating in your geographical location and open an account right away.
Top 5 Trusted Brokers 2020
The best binary options brokers in the industry have certain qualifying traits that set them apart from the rest. These brokers provide a perfect mix of diverse asset base, variety of trading accounts, convenient and secure deposit and withdrawal methods, a reasonable level of financial stability, high rate of profitability, command a high reputation in the industry, and most importantly, backed and operated by a strong and professional team.
There are many other brokers that are also considered to be in the list of the best binary options brokers due to the top-notch services and facilities they offer.
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Brokers Accepting US Traders
There are some very professional and reliable binary options brokers available online. However, not all of them offer trading for USA customers due to regulatory restrictions.
Here are some highly reputable brokerage companies offering online trading services to USA clients with some attractive benefits.
- Instaforex offers up to 85% payout with a bonus of up to 100%
- OptionRobot is the most popular binary options robot in the industry, that working with brokers who accept traders from the USA
Binary Options Brokers in Australia
We have also conducted a check regarding binary options brokers offering excellent trading services to Australian clients. Here is a list of some brokers licensed to operate in Australia:
- PlusOption allows a minimum investment amount of USD 250. You can get up to 81% payout with the broker.
- Finpari allows traders to open an account with initial deposit of USD 250 and offers up to 100% bonus. The broker’s payout is up to 85%.
Binary Options Brokers in Canada
Canada blocked 37 binary options brokers in March 2020, but there are still number of brokers providing binary options trading for canadian traders.
Here is a list of some of them:
- StoxMarket provides free demo account and bonus of up to 100%
Low Purchase Binary Options Brokers
Offering low purchase binary options is also an important feature that distinguishes some brokers from the others.
- IQ Option allows traders to execute trades with just USD 1. The broker’s maximum single trade limit is USD 5,000, minimum deposit amount is USD 10, and maximum payout is up to 91%.
- Ayrex allows a minimum trading amount of USD 1 and a maximum single trade limit of USD 5000. The minimum deposit amount is USD 10 and you can expect to make profits of up to 85%.
- Binary allows traders to use as little as USD 1 for trading. The broker’s maximum single trade limit it USD 3000, minimum deposit amount is USD 10, and maximum payout is 85%.
Brokers Offering Free Demo Account
A free demo account means that trading is carried out with virtual money without involving any real money. This way, you can conveniently practice and gain the necessary familiarity with binary options trading risk-free.
Choose Trusted Binary Option Broker
Binary options trading is quite a sensitive industry and a lot of funds are normally at stake. Since the internet is littered with all sorts of binary options brokers, it is important that serious trading of binary options be done only with trusted and highly reputable brokers.
We surveyed various online forums and interviewed various active traders to find out some trusted binary brokers who deliver up to the promise. From the survey and the feedback we got from active traders, we can confidently affirm that some of the trusted brokers in the industry include Finpari, Opteck, Magnum Options, 24option, and IQ Option.
Tips for Choosing Binary Options Brokers
It is important to choose a binary options trading broker very carefully and with full knowledge and understanding of the outcomes of your decisions.
Here are some key tips you can use when choosing a broker for binary options trading.
- Trading Platform: It is very important to work with a broker who has the best trading platform. Most brokers have customized platforms but you must ascertain whether they are suited for trading binary options.
- Assets: The range and variety of assets a broker offers is critical. Different brokers offer different types of assets. Thus, you should choose a broker offering financial instruments that resonate well with your preferences and trading style.
- Minimum deposit: With a suitable initial deposit, you can conveniently test whether your preferred broker has what you were looking for.
- Localization: Choosing a broker operating within your locality could mean access to trading conditions that are aligned to your needs and preferences.
- Regulation: You should do a thorough background check to ascertain if your preferred broker is under an authentic regulatory body. Choosing an unregulated broker could land you in problems and deteriorate your career ambitions.
- Deposit / Withdrawal options: Traders are usually cautious about the procedures of deposit and withdrawal of money from the broker. It is important to check whether you are comfortable with the type of deposit and withdrawal options offered.
- Payout %: The payout percentage varies between different brokers. If you are planning to trade binary options, then it is important to check the level of payout percentage offered so that you are able to choose accordingly. There are brokers who offer payouts well above 85%.
- Bonus: Some brokers offer bonuses in monetary terms while others offer bonuses in percentage terms. You should check out what type of bonus a broker is offering before committing to start trading with that broker.
- Demo account: Practice is very important, as it will provide the familiarity and ease necessary before you commence trading. You should try out the free demo accounts provided by the binary options brokers so that you are able to choose the platform of your liking.
- Customer service: Go for a broker with a friendly, supportive, and outstanding customer service department.
It is important you spend the hours and search for a good binary options broker that will provide you with the best conditions for trading. Fortunately, we have done the legwork for you so that you can have an easy time selecting a top-notch broker.
With the above in-depth review, there are great chances that you will choose a superb binary options broker that will be ideally suited for you. And, it will serve as the cornerstone for establishing a successful career in the lucrative binary options market.
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