Videforex Review | Is It a Scam Binary Broker?

Are you considering investing your hard-earned money with Videforex? Before you make any decisions, it’s important to be aware of the numerous scam allegations and negative reviews surrounding this binary options broker. Many traders have reported losing significant sums of money due to platform glitches. So, we’ll delve into the specifics of what makes this broker a risky choice for potential investors.

Highlights

First Impression of Videforex.com

The official website of Videforex is not the typical brokerage website. This broker is quite unique and offers a video chat feature where traders can interact with a manager from Videforex. It’s always a friendly and attractive woman who greets you. You can join her in a group or private chat, and even switch to a different language or a different online girl. The website also briefly describes the broker and lists its advantages, including statistics.

Partnership and Bonuses

Videforex offers bonuses, ranging from 20% to 100% of your deposit, depending on the size of your deposit, of course. However, these bonuses come with certain conditions that must be met before you can withdraw them. Additionally, you can enter a promo code during registration, as the broker has a referral program that rewards you with up to 20% commission for referring new clients.

Account Opening on Videforex.com

Opening an account on Videforex.com is a breeze. You just need to fill out a small form with your personal data and contacts. Interestingly, Videforex does not require verification, so you can enter any email, and phone number. Afterward, you immediately gain access to the Client Portal, which is integrated with the trading terminal. Here, you can adjust your profile settings, deposit or withdraw funds, and access additional features such as market analysis and copy trading.

Verification

Despite being a binary options broker, Videforex requires clients to go through a verification process. It involves providing personal information and a copy of a document proving your identity. You may also need to take a selfie with the document. However, the company doesn’t indicate how long the verification process takes.

Trading Software

Videforex offers a web trader for binary options. However, unfortunately, it falls short in many areas. The web trader is slow and clunky, with a confusing interface that makes it difficult to navigate. The charts are not user-friendly and lack customization options, making it difficult to analyze market trends. The lack of advanced features and tools makes it a poor choice for experienced traders who require more robust platforms for their trading needs.

How Can I Trade With Videforex?

Based on what we already know, we would not trade with Videforex. However, for those who are interested in binary options trading, let’s describe the trading conditions.

All Info About Accounts

Videforex offers three types of accounts, which do not differ much from each other except for the minimum deposit. It is $250, $1,000, and $3,000, respectively. The larger the deposit, the larger the bonus. Apart from that, the accounts do not differ in any significant way. The novice account does not have the first risk-free trades, but that’s all.

Regarding the broker’s overall conditions, it promises payouts of up to 95%. However, there is a catch. Options with such payouts have an expiration period of only 60 seconds. As we know, it is impossible to develop a profitable strategy in such a short time frame, and the trader is more likely to be gambling. Everything that happens in the markets within 60 seconds can be called market noise. Therefore, it is impossible to predict with the highest probability where it will go. You can only guess.

Market Analysis and Education With Videforex.com

Videforex seems to offer education, mentioning that traders can use its services. In addition, the broker provides a personal success manager and access to webinars. However, there is a conflict of interest. If the broker teaches you to earn money, it will be left without money, both yours and its own. So don’t fall for these gurus and coaches. Their task is quite definite – to drain your deposit.

Deposit, Withdrawal, and Fees

Among the deposit methods, Videforex offers Visa and MasterCard, bank transfers, cryptocurrencies, and Perfect Money. One advantage is that the broker promises to withdraw money within one hour. A serious statement. We don’t think that bank transfers work this way, unless they mean electronic payment systems.

How Can I Contact It?

The most obvious way to contact the broker is through live chat. As we have said, Videforex representatives are waiting live to answer your questions. However, we have not verified if they are actually there. Someone else may be responsible for them. Additionally, the broker provides a phone number for contact.

Is Videforex Dangerous?

Binary options themselves are a very dangerous venture. We would not recommend anyone to trade using these tools. The majority of brokers offering this type of service are scammers. What about Videforex?

How Long Does The Broker Work?

By the way, we are surprised by the longevity of Videforex. It suddenly appears, then may disappear for a year, then reappears with advertising. Countless traders have fallen victim to this scam. However, it has been operating since 2017.

How Is Videforex Regulated?

In the website footer, you may notice that Videforex is regulated by a certain IFMRRC. This is a self-regulating organization, which originates from Russia. Any broker can become a member by paying a fee of a few thousand dollars. This company operates in a semi-legal manner. You can see for yourself that the certificate it issued to Videforex states that its managing company is registered in the Marshall Islands. Meanwhile, here is what the real registry record of that state looks like.

As you can see, the company was annulled in May 2022. However, IFMRRC issued this certificate to a non-existent legal entity. Anyway, you should know that binary options are banned in almost every country. Obtaining a license for this activity is practically impossible.

Frequently Asked Questions (FAQ)

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Expert Opinion

Here’s an expert opinion from your friendly neighborhood trading guru (that’s me, in case you were wondering). When it comes to binary options, let’s be real: they’re about as useful as a screen door on a submarine. I mean, who thought it was a good idea to simplify the stock market into a “yes or no” question? It’s like trying to fit a square peg into a round hole or convincing your mother-in-law to like you. It’s just not gonna happen. So, my advice to you is this: find a trading strategy that actually makes sense. Invest your time and money into something that has the potential for real growth, like a money tree (just kidding, those don’t actually exist). And remember: the only thing worse than losing money in the stock market is losing money and your sense of humor. Keep things light, stay smart, and happy trading!