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VideForex review and ratings

Established 2016
Location Seychelles
Regulation None
Offices Mahe
Broker type MM | Binary
Leverage up to 1:100
Deposit from 250 USD
Spreads mid  mid
Platforms Web Specific Binary Platform
Instruments Currencies Crypto Metals Stocks
Funding methods Credit Cards Skrill Neteller VLoad UnionPay Perfect Money Bitcoin Ethereum Liteсoin Dash Alipay

Company information

VideForex is a legally registered forex broker broker located in the Seychelles, but not regulated by any government agency.

VideForex has clones: BinaryMate, Finrally, Raceoption and others. All trademarks belongs to the Financial Group Corp, which operates in Vanuatu.

Availability

VideForex accepts clients from all over the world, excluding USA and some countries where restrictions apply.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for FX trading.

25+ Currency Pairs Based on major and minor world currencies.
17 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, Dashcoin, Monero, Santiment, Zcash, EOS, IOTA.
2 Metal Spot CFDs Based on Gold and Silver.

Forex broker offers the following underlying assets for Binary Options trading.

25+ Currency Pairs Based on major and minor world currencies.
14 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, Dashcoin, Monero, Santiment, Zcash, OmiseGO, EOS, IOTA.
2 Metal Spot BOs Based on Gold and Silver.
4 Stock BOs Based on shares of German companies.

Comprehensive review

VideForex is a broker based out of the Seychelles, which is a popular offshore jurisdiction that many forex brokers are registered in. However, the regulatory situation in the Seychelles is somewhat unclear, with some brokers being regulated there and others not.

Although VideForex is legally registered as a business, it is among the brokerage companies that are not regulated by any government agency in the Seychelles.

An interesting aspect about this broker is that it offers both binary options trading as well as traditional forex & CFD trading. This means that the broker has something to offer everyone, regardless of whether you want to analyze the potential price movements in currency pairs, or take the more gaming-like approach to trading that characterizes binary options.

In terms of underlying assets for binary options trading, VideForex offers a fairly large selection, including more than 25 forex pairs, a range of popular cryptocurrencies, metals, and stocks. With the exception of stock CFDs, the same selection is also largely found for traders who prefer to stick with traditional CFD & forex trading.

Maximum leverage for forex & CFD trading with VideForex is set to 1:100. This amount of leverage is what used to be the standard by many retail-focused brokers, before some offshore-based brokers moved to even higher leverage of 1:500 and beyond. In any case, 1:100 should be enough for most traders. Another clear benefit is that using this amount of leverage makes it easy to quickly calculate margin requirements.

With VideForex, both binary options and forex & CFDs can be traded using the broker’s own web-based trading platform, which is said to be available in versions for web, iPhone, and Android. Unfortunately, the download link provided by the broker to Google’s Play Store for Android did not work at the time we tested it. We were also not able to find the app in Apple’s AppStore.

Although we were unable to find any evidence that the broker’s mobile apps still exist, the web-based version of its trading platform offers a fairly good trading experience. This is particularly true for binary options traders and beginners who don’t require a lot of advanced analytical tools, which the platform is largely lacking. For basic binary options trading, however, the platform definitely does what it should do.

The account types offered by VideForex includes a Bronze account, a Silver account, and a Gold account. All three account types support trading in both binary options and forex/CFDs, with the broker’s full selection of underlying assets.

Trading accounts can be funded through the usual options like Visa and MasterCard, bank wire transfers, Skrill, Neteller, Perfect Money, and a range of cryptocurrencies including Bitcoin, Litecoin, Ethereum, and a number of unspecified altcoins.

Customer support appears to only be available via live chat, which in turn is only available for registered users. No working hours, phone numbers, or email addresses to customer support is mentioned on this broker’s website.

Sadly, there is also a lack of information in many other areas of VideForex’s website. For example, there is no overview of trading conditions like spreads and commissions, and no pricing tables available. This certainly leaves a questionable first impression that is likely to turn many serious traders away from this broker.

All in all, we believe VideForex has some potential to become a respected offshore-based forex & binary options broker, but it is clear that it still has a way to go before that is a reality. Among the things we would like to see the broker improve is more transparency in terms of the operating company and its regulatory status, a complete overview of pricing and fees, and direct phone numbers to customer support. Without these things in place, trading with an unregulated broker like VideForex undeniably comes with certain risks.

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