Online trading has become a popular choice for many individuals who are looking to invest money and make a profit. In order to do so, traders must choose a reliable broker that offers top-quality services and a user-friendly platform. One of the brokers that has gained popularity in recent years is Videforex.
A Brief Overview of Videforex and Its Services
Videforex is an online broker that provides trading services for both novice and experienced traders. It offers various financial instruments such as forex, cryptocurrencies, commodities, indices, and CFDs. The broker was founded in 2016 by a group of experts in the financial sector who aimed to provide traders with a simple yet efficient way to trade online.
The platform offered by Videforex allows users to trade on any device with internet connectivity without any additional software downloads. The website is accessible 24/7, which means traders can easily carry out transactions at their convenience regardless of time or location.
The Importance of Choosing a Reliable Broker for Trading
A reliable broker can be the difference between success and failure in online trading. Choosing an untrustworthy or scam broker may lead to losses or even theft of funds. Therefore, it is imperative that traders take necessary measures when selecting an online broker to ensure they receive quality services while also protecting their investments.
Reliable brokers are registered with regulatory agencies which ensures compliance with industry regulations and standards. This means that clients’ funds are kept separate from the company’s operating funds, allowing them quick access to their money whenever necessary should the company go bankrupt or face other financial difficulties.
An important thing for traders when choosing a reliable broker is transparency in pricing policies such as spreads and commissions charged on trades so as not to be taken advantage of by hidden fees. Low spreads and commissions can be a significant factor in making profits.
History of Videforex and its Founders
Videforex is a relatively new entrant in the online trading industry, having been established in 2016. The company is owned and operated by the Seychelles-based Financial Group Corp, which also runs another popular trading platform called BinaryMate. The founders of Videforex are not publicly known, but they have extensive experience in the financial industry.
The idea behind Videforex was to create an innovative and user-friendly trading platform that would cater to traders of all levels of expertise. The company has since grown rapidly and now offers a range of trading instruments, including forex, cryptocurrencies, CFDs on stocks, indices and commodities.
Licenses and Regulations Obtained by the Company
As with any online broker or trading platform, it’s important to ensure that Videforex is licensed and regulated by relevant authorities. Fortunately, the company has obtained several licenses that guarantee its legitimacy and adherence to regulatory requirements.
Videforex is is not a regulated entity
Description of the trading platform offered by Videforex
Videforex offers a proprietary web-based trading platform that is designed to cater to the needs of both novice and experienced traders. This platform has been built from scratch using cutting-edge technology and features a modern, intuitive interface that allows traders to focus on their trading strategies without any distractions.
The platform is accessible from any device with an internet connection, and there’s no need to download or install any software. Traders can log in to their accounts and access all the features and tools directly from their browser, which makes it highly convenient for those who travel frequently or use different devices for trading.
Features and tools available for traders
Videforex’s trading platform comes equipped with a range of advanced features and tools that are designed to help traders make informed decisions. One such feature is the charting package, which provides multiple chart types along with an array of technical indicators that can be customized according to individual preferences.
Traders also have access to real-time quotes for all financial instruments offered by Videforex, as well as an economic calendar that displays important upcoming events that could impact the markets. Additionally, there are various risk management tools available such as stop loss orders, take profit orders, and trailing stops.
User-friendliness and accessibility of the platform
The Videforex trading platform is user-friendly with a simple layout that makes it easy for traders to navigate between different sections. The interface is intuitive so even very new users can easily understand how everything works on this platform. Accessibility-wise, since it’s entirely web-based there are no restrictions on how or where users can access it from.
Provided they have good internet connectivity; they will be able to trade at any time. Overall, Videforex’s proprietary trading platform offers traders a combination of powerful features and user-friendliness that makes it an excellent choice for traders of all levels.
When it comes to trading with Videforex, traders have access to a range of different account types designed to cater to varying experience levels and trading needs. These account types come with their own unique features, benefits and drawbacks, which is why it’s important for traders to understand the details before deciding on the best option for them.
Overview of Different Account Types
Videforex offers three main trading account types: Bronze, Silver and Gold. Each account type offers distinct advantages and is designed to meet the needs of different traders.
The Bronze account is the most basic account type offered by Videforex. It requires a minimum deposit of $250 and comes with an initial bonus of 20%.
The Silver account requires a minimum deposit of $1000 and comes with a 50% initial bonus. The Gold account requires the highest minimum deposit amount, coming in at $3000, but offers a 100% initial bonus.
Minimum Deposit Requirements
The minimum deposit requirements for each of these accounts are relatively low compared to other leading brokers in the industry. This means traders can get started with Videforex without having to break the bank.
The Bronze account has a minimum deposit requirement of just $250 which makes it accessible for beginner traders who may not be ready or willing to start with larger sums. The higher tier accounts require more significant deposits which may not be practical for some beginner traders.
Benefits and Drawbacks
The benefits offered by each trading account will greatly depend on individual trader preferences as well as their experience level in trading. The Bronze plan provides access to all basic features while offering some extra perks like daily market reviews available via email and access into educational materials that covers trading strategies. The Silver account has additional benefits such as access to a dedicated manager as well as a master-class education package.
On the other hand, the Gold account offers personalized trading analysis in addition to free withdrawals and access to the VIP education package which includes trading signals and webinars with expert traders. While there are many benefits associated with each of these accounts, it’s important for traders to also consider any drawbacks that may come with each account type.
For example, higher tier accounts may have more stringent withdrawal requirements or fees while lower tier accounts may be restricted from accessing some advanced features. Traders need to weigh up all aspects before making their final decision on which account type best suits their needs.
Overall, Videforex offers a range of account types that cater to varying experience levels and trading needs. Each of these accounts has unique features, benefits, and drawbacks; therefore, it’s up to individual preference on what account type works best for them.
When it comes to trading instruments, Videforex offers a wide range of options for their clients. This includes popular options such as Forex, CFDs, cryptocurrencies, and commodities. Traders can choose from more than 100 different assets to trade on the platform.
The availability of these trading instruments makes it possible for traders to diversify their portfolio and minimize risks by investing in various markets. Forex is one of the most popular trading instruments offered by Videforex.
With access to major currency pairs such as EUR/USD and USD/JPY, traders can take advantage of market volatility and make profits from price fluctuations. In addition to forex, the platform also offers CFDs on stocks, indices, and commodities such as gold and oil.
One unique feature of Videforex is its focus on cryptocurrencies. The platform allows traders to invest in popular digital currencies such as Bitcoin and Ethereum.
Cryptocurrencies are known for their high volatility which makes them an attractive option for traders seeking high returns. However, it is important to note that cryptocurrency markets are highly speculative and carry significant risks.
The trading conditions offered by Videforex are competitive compared to other brokers in the industry. Spreads start from as low as 0 pips for certain asset classes such as forex majors while leverage can be up to 1:500 depending on account type selected. Margin requirements vary depending on the asset being traded but typically range between 1% – 10%.
The minimum investment required for each trade varies depending on the asset being traded with some requiring only $1 per trade while others require significantly more capital investments per standard lot traded. Videforex offers a wide range of trading instruments with competitive trading conditions.
Traders can choose from more than 100 assets to trade while enjoying low spreads and high leverage. The focus on cryptocurrencies makes the platform a great choice for traders looking for exposure to this emerging asset class.
VI. Customer Support
Availability and Quality of Customer Support Services Provided by Videforex
Videforex offers a range of customer support services that are readily available to traders who need assistance. They provide 24/7 customer support, which is a significant advantage for traders who operate in different time zones.
The customer support team is approachable and knowledgeable, providing quick solutions to any issues or queries raised by their customers. The broker also offers multi-lingual support, which is beneficial for traders who are not fluent in English.
The quality of the customer support offered by Videforex is impressive. They have a comprehensive FAQ section that addresses most common queries that users may have regarding deposits, withdrawals, bonuses, trading conditions and more.
In addition to this, customers can contact the support team via phone, email or live chat on their website. This gives clients multiple options to choose from when seeking assistance from the broker.
Contact Methods Such as Phone, Email and Live Chat
One of the key benefits of trading with Videforex is their accessibility through multiple communication channels. Traders can contact their customer support team through phone or email at any time should they require assistance with anything related to their account or trading platforms. They also offer live chat on their website which allows customers to get in touch with an agent within seconds.
The response time for inquiries made via phone and live chat was quick during our tests; typically less than 5 minutes wait time before connecting with an agent who provided prompt solutions to issues raised by our team members during testing periods. In contrast, email responses were generally slower taking up to 24 hours depending on the complexity of the query being addressed.
Response Time To Queries Or Issues Raised By Customers
Response time is a crucial factor when assessing the quality of customer service provided by brokers. Videforex has shown impressive response times for phone and live chat enquiries, which is a major advantage for those who require quick solutions to their issues.
The broker has efficient and knowledgeable agents who are available to answer questions raised by customers. Email response times, however, can take up to 24 hours during busy periods.
This may be inconvenient for traders with pressing issues that require immediate attention. Videforex could improve on their email support by reducing the time taken to respond to queries.
Overall, the availability of multiple contact methods and quick response times make Videforex’s customer service commendable. They have put in place efficient and convenient channels for traders seeking assistance on their platform, making it easier for clients to trade confidently without worrying about unresolved queries or issues that impede trading activities.
Protecting User Data and Funds
One of the most critical elements of a good trading platform is the security measures in place to protect user data and funds. Videforex takes this responsibility seriously, as they understand that traders entrust them with sensitive personal information during the registration process.
The company ensures that all user data is protected with state-of-the-art encryption technology, which makes it nearly impossible for hackers to access and steal user information. In addition to protecting user data, Videforex also implements strict protocols to safeguard customer funds.
All client deposits are kept in segregated accounts held by reputable financial institutions, which ensures that customer funds remain separate from company assets. This arrangement provides an extra layer of protection should Videforex go bankrupt or be subjected to other financial troubles.
Encryption Protocols for Transactions
Videforex uses highly sophisticated SSL encryption technology, which provides a secure communication channel between traders and the trading platform. SSL encryption ensures that all transactions made on the platform are protected from prying eyes and potential threats such as hacking attempts or identity theft.
SSL encryption is a robust form of security widely used across different industries, including finance and e-commerce. By using this type of security measure on its platform, Videforex sets itself apart from other brokers who may not provide adequate protection for their customers’ transactions.
After conducting a thorough review of Videforex, is not regulated so please be careful.
While the demo account provides a useful tool for practicing trades, some may require more guidance in order to fully understand the complexities of trading. Additionally, the minimum deposit requirements for some account types may be prohibitive for those just starting out.
Overall, Videforex is an decent choice for traders looking but there are much better options out there.