Videforex is an online broker that specializes in options, forex, and CFD trading. Clients have access to over 100 assets through their proprietary trading software. We will review Videforex’s broker review, which includes their account registration, login process and spread offering. We also reviewed their platform and mobile apps to find out their key features.To get more news about videforex review, you can visit wikifx.com official website.
Videforex provides clients with its web-based trading platform. Trading is accessible on all major web browsers so there is no need to download. It is simple to use and has a friendly interface. The platform is suitable for both novice and experienced traders. However, it lacks sophisticated and advanced tools. Particularly, the platform lacks technical features such as indicators and charting tools that are common on other platforms. Spreads and Commission Spreads of Videforex are subject to fluctuation and can vary from instrument to instrument.
For opening a cash cryptocurrency CFD position, the broker may charge a commission up to 2.5%. A maximum commission fee for leveraged cryptocurrency positions is 5%. For overnight trades, there is an additional swap fee of 0.077% of the position’s face value. If clients fail to complete at least one trade in a given time, a $10 monthly inactivity fee is charged.
Videforex leverage Videforex allows you to trade with a maximum leverage ratio of 1:100. This can vary depending on the instrument. To avoid large losses, traders should use risk management strategies when trading leverage. Retail traders are subject to a maintenance margin call. The broker will close your account if the account equity falls below 5% of the initial investment. This protects traders from losing more money than they deposit, but can lead to profitability problems in volatile markets. Videforex Withdrawals Videforex charges no fees for withdrawals. Withdrawals are allowed up to US$50, or the equivalent in currency. Each request requires identification. All payment methods are processed quickly and can be guaranteed to be completed within one hour.
There are certain withdrawal conditions. Before a withdrawal can be allowed, accounts without bonuses must have a 100% turnover of the initial deposit amount. A bonus account must have a turnover limit of 300% before you can withdraw. Regulation and licensing Videforex does not have a financial regulator. The Marshall Islands is where the company is licensed. This country is known for its offshore trading and lack regulation. Trader who make deposits to an unregulated broker are doing so at their own risk. Financial service providers in the UK must be regulated and supervised by the Financial Conduct Authority (FCA). Clearing services, segregation of client funds and protection against negative balances are not guaranteed.
Additional features We were disappointed to find that Videforex had very few additional features for traders. The broker’s website contains a basic trading tutorial. Topics include how to trade CFDs, and how to use binary options. The majority of good brokers do not provide trading updates, an economic calendar, or live market news streams.
Types of accounts Videforex has three account options: Bronze, Silver, and Gold. All accounts have 24/7 support via live video chat, copy trading tools, and quick withdrawals. Accounts with Silver or Gold status also get the risk-free trades. If negative trading results occur, a trading bonus is offered. Based on the initial deposit, bonus opportunities are increased. These accounts are available to UK customers:
