Videforex Review (2023)

Founded
2020
Avoid Reason
Offshore License

Is Videforex a scam or a legit broker?

Videforex is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.

What is Videforex?

Videforex offers Forex, CFD and Options trading with more than 100 assets available for trading. The broker guarantees the clients are able to trade from any device, any time, with a highest level of security, wide range of funding and withdrawals methods, 100% secured trading with the data protection. However, it seems like the broker is missing the most important, the regulation.

About Videforex
🗺️ Registered in Marshall Islands
🗺️ Type of License Offshore License
🛡️ Is Videforex safe to trade No
🗺️ Recommended Licenses FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative Broker GO Markets - licensed by ASIC in Australia

Licenses & Regulation

Is Videforex regulated?

It is not safe to trade with Videforex, as it is an offshore company. Videforex as the Company, operated by INVOLVA CORP – Nr. 104693, Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands.

The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as CobraCFD, GoldenSkyCapital and more. As we already know, offshore registration usually doesn’t guarantee the safety of funds and clients’ protection, especially in the Marshall Islands, where the local authority doesn’t regulate forex businesses. 

In fact, Marshall Islands is an offshore zone attracting various firms that for the reason or another escape from the serious regulation or compliance to international service providing. However, in the case of financial investment or trading firms, the company should be a very respected entity, as the statistics show that the majority of non-authorized firms never recovered the sums of investors’ investments. Therefore, we always advise avoiding offshore or companies with no license as there are too many frauds around.

Is Videforex a scam?

The second red flag after an offshore registration is the lack of the actual regulatory information. Videforex doesn’t seem to be regulated by any reputable authority. The broker does not provide any trading conditions/details as well as its address. All the regulated brokers keep this information transparent for their clients. The lack of these details usually tells that the company is up to something bad. 

Videforex in India

Videforex accepts traders from India. However, Videforex has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

Videforex in the USA

Videforex nor its agents or partners are not registered and do not provide any services on the USA territory. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for Videforex, you are only permitted to trade with the U.S regulated platforms

Deposit & Withdrawal

The minimum deposit is $250. You can fund your account by credit cards (VISA/MasterCard), Bank wire transfer, Bitcoin, Ethereum, Litecoin, Altcoins, Neteller, Skrill, Perfect Money. The funds will be available for trading immediately, after a confirmation from the payment system.

The minimal amount allowed for withdrawal is $50Videforex processes all withdrawal requests within 1 hour.

For security reasons, identification of the person is required for all withdrawals, regardless of the withdrawal amount. For account without bonus: trader has to reach a 100% turnover from deposited amount, to claim for withdrawal. For account with bonus: trader has to reach 300% turnover from deposited amount, to claim for deposited amount and profit withdrawal.  

Apps

Videforex CFD and Options offers Android and iPhone based trading platform. It allows to stay connected with the global market and never miss a trading opportunity. The application allows regular CFD and Options trading and direct deposit and withdrawal via APP. It allows for instant execution of trades, shows live charts of every option available on the platform, and enables traders to view their entire trade history. Application is free to download.

Demo Account

To receive demo account access you need to fund your trading account and contact customer support to get demo account credentials. Demo account is a great opportunity to practice strategies and become familiar with the platform with their demo account option.

Conclusion

Overall, there are many questions in regards to the trust of the Videforex company services and the manner they do operate the online trading itself.

We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.com.

You can also share your trading experience with Videforex by commenting on this review.

Reviews

Marcin Says:
At: 1 year ago

Scam!!!
They’ve cancelled all my trades after big wins.

Keshia Says:
At: 1 year ago

Hi Marcin, how did they cancel your trade? I am having a hard tie getting my money from them>

Luis A. Rivera Says:
At: 1 year ago

Scam!!! I have been trying to withdraw my money and close my account for more than 13 days, and they keep cancelling my withdraw transactions and insisting to keep trading. They are refusing to give me my money back.

Kollin Says:
At: 1 year ago

I’m in the same situation did you ever withdraw your money?

Alexis Camille Says:
At: 1 year ago

Omg…… this is what I am dealing with right now as well

Eddie M Says:
At: 1 year ago

This broker is a fucking joke. Went through hell proving my identity in back & fourth emails. I was an extremely profitable trader. Able to make withdrawals on a consistent basis. After I started picking up speed with daily withdrawals, all of a sudden its security check, suspicious activity, to account closure & blocking. Im not even mad about it bc I can trade regardless on any platform especially the licensed ones but honestly this shit is unethical & cutthroat. Stay the fuck away.

Alex Says:
At: 1 year ago

Yes, what I am facing now. Suspicious activities after I increased withdrawals. Account is blocked. No reply.

JOSE PUEBLA Says:
At: 1 year ago

bluhd….. i just got my account to 32k… my heart is breaking reading this review page. why did IM academy recommend this broker. im hesitating tryin to take money out of it.

Ted Brown Says:
At: 1 year ago

They have gotten 7 k from me. When I go to withdraw they insist that I need to pay 10% service charge. So I tried to withdraw 4000$. I sent 400$. And never received anything. Has anyone has any luck getting there money. Please let me know.
Thank you
Ted Brown

Jackie Says:
At: 1 year ago

Same here! Deposited $2k and they want 20% more in “fees” for me to withdraw it. Total scam!

tonyluis Says:
At: 8 months ago
Thank you for taking out time to reach us and sorry for your lost, We regret to know you’ve experienced such an issue and hardship where you try and make some trade and option to do investment trading and you end up running into loses with companies guilty of embezzling and depriving investors of their money and profits sadly that how the trading world is now it what it turned into but there a way out and that by you getting to recover all your lost funds back, your profits included and probably charge them with a lawsuit for Illegal Embezzlement of funds. All this can be done by contacting HARPER JAMES via: ( harperjamesplatform @ gmail . com )
[email protected] Says:
At: 8 months ago
Thank you for taking out time to reach us and sorry for your lost, We regret to know you’ve experienced such an issue and hardship where you try and make some trade and option to do investment trading and you end up running into loses with companies guilty of embezzling and depriving investors of their money and profits sadly that how the trading world is now it what it turned into but there a way out and that by you getting to recover all your lost funds back, your profits included and probably charge them with a lawsuit for Illegal Embezzlement of funds. All this can be done by contacting HARPER JAMES via: ( harperjamesplatform @ gmail . com )
tonyluis Says:
At: 8 months ago
Thank you for taking out time to reach us and sorry for your lost, We regret to know you’ve experienced such an issue and hardship where you try and make some trade and option to do investment trading and you end up running into loses with companies guilty of embezzling and depriving investors of their money and profits sadly that how the trading world is now it what it turned into but there a way out and that by you getting to recover all your lost funds back, your profits included and probably charge them with a lawsuit for Illegal Embezzlement of funds. All this can be done by contacting HARPER JAMES via: ( harperjamesplatform @ gmail . com )
tonyluis Says:
At: 7 months ago
My experience here was a very terrible one. After I had made my second deposit I was blocked out. Nothing I did worked. I was so frustrated and giving up on my money when Mrs. HARPER JAMES came to my rescue and helped me out with the issue. I would have been in a big mess if I had not met Mrs. HARPER JAMES: HARPERJAMESPLATFORM  @  G  MAIL   COM personal email them privately. I wish to recommend Mrs. HARPER to anyone in recovery of loss. She saves me and I believe She can also save others who have run into loss.
Janet Riley Says:
At: 6 months ago
The past few months have been incredibly difficult for me due to the actions of brokers. It was a terrible experience that resulted in losing everything and nearly leaving me homeless. However, I am grateful that it didn't come to that because once I discovered the fraudulent nature of the company and their intention to take my money, I sought help to recover it. Along the way, I encountered several fake hackers, which made me realise that the internet can no longer be trusted. Fortunately, I was fortunate enough to connect with Scott Wilfred through his email address . I reached out to someone who spoke highly of them and confirmed their reliable service, which gave me reassurance to proceed with them. I made sure to provide all the requested details and supported them throughout the entire process. They kept me informed about each technique they used during the recovery process. They even assisted in rectifying my credit report, which had several negative marks affecting my credit score. I am incredibly grateful to have had the opportunity to work with these skilled professionals. Hacking is their expertise, and you can easily contact them through [email protected] Once again, a heartfelt thank you to Scott Wilfred for their outstanding service and for helping me regain my lost assets.