Website URL: https://www.videforex.com/
Deposit Methods: credit cards, bank wire transfer, e-wallets
Minimum Deposit: $250
Free Demo Account: yes
Types of Assets: CFDs, Forex, commodities
Considering that the company is based in Seychelles, it is safe to say that they are not regulated. This brings a whole another dimension of uncertainty for you and for your funds. Don’t get us wrong – there are some broker companies that are able to regulate their business operations through policies and other important documents. This way, you can trade safely with them despite not having a proper licence. However, Vide Forex does not seem to be one of them.
The company was established back in 2017 and it is owned by another private company called BinaryMate. This company is based in Scotland, which is a stretch considering that Vide Forex is not regulated by the FCA. Hence, they are not able to provide trading services for UK clients.
Vide Forex designers made an effort to make their own in-house platform, which means that they are always up to speed on the new things and developments on there. They are also required to create and follow the basic conditions and requirements that are needed for your trading to go smoothly.
Also, the platform is quite easy to use and it takes just a few seconds to load. At the very centre of the page, you will find a detailed chart showing the market performance of the asset for your choosing. Speaking of the assets, you can find a modest choice of around 50 CFDs, currency pairs and commodities in total.
The leverage for trading these assets is at 1:100, and you will also be charged a commission for opening an unleveraged position, which can be between 1% and 2.5%. One downside of the platform is the fact that there is no mobile version available yet, which is a real shame.
There are 3 different account types that you can acquire when trading at Vide Forex. The first one is the bronze account, which comes with a minimum deposit of $250. It provides 24/7 customer support and copy trading tools. Then there is the silver account, which can be yours if you deposit at least $1000. It comes with your own personal account manager, as well as master class web sessions to improve your trading knowledge.
Lastly, the top-level account which you can gain access to is the gold one, which you will need to deposit $3.000 for. With this account type, the possibilities are practically endless. You can also get special bonuses and promotions for the most loyal customers.
Unfortunately, the educational section at this company is not at all admirable. First, the few instruments that they have do not seem to be regularly updated, which is a real shame. In addition, there are a lot of tools and features that are hidden and can only be available for the clients who pay extra for the gold account. This is a major downside for both first-timers and trading pros.
On the other hand, you can find a few handy tutorials and a detailed explanation of the fundamental and technical analysis, which are some of the most important tools that can help you get ahead in your trading.
Deposits and Withdrawals
For all your depositing and withdrawing needs, Vide Forex has provided around 10 payment options in total. That may not seem like a lot, but they are actually covering the widest selection of banking options. They include credit and debit cards, bank wire transfers and also several e-wallets. The deposits are done immediately, while the withdrawals can take up to 1 hour. However, you should keep in mind that this does not apply to bank wire transfers, which can take between 2 and 5 business days. The minimum amount for withdrawals is $50, and you can make that request for EUR, GBP, USD or RUB.