VideForex was back rebranded in 2022, with the new owner but the same habits. This firm provided illicit financial services, was blacklisted by several regulators back in 2019 and laid low. However, it’s back with new scheme methods, and we will elaborate on them all in our VideForex review.
| Broker status: | Offshore Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | videforex.com |
| Blacklisted as a Scam by: | CNMV, CONSOB, FSMA |
| Owned by: | Involva Corp Ltd |
| Headquarters Country: | Marshall Islands |
| Foundation year: | 2019 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | $250 |
| Cryptocurrencies: | Available |
| Types of Assets: | FX, commodities, indices, shares, cryptocurrencies, options |
| Maximum Leverage: | 1:500 |
| Free Demo Account: | Yes |
| Accepts US clients: | Yes |
What About VideForex Regulation?
VideForex belonged to Algobit Ltd, a firm from Seychelles, blacklisted for several brands, including AstroFX. Since this owner was on the radar, VideForex got a new owner – Involva Corp. and moved from Seychelles to the Marshall Islands.
Did the VideForex regulation status change? Not really.
In addition, we strongly advise you not to invest inTradingBloom,Finazio and Roicraftfraudulent brokers.
Why Must a Broker Have a License?
Brokers are obtaining a license to show they are following certain monetary standards and ensuring their clients that they are not simply going to vanish with the money. Also, most Tier1 regulators are taking precautions by making investment firms form significant compensation funds with enough funds to reimburse potential victims.
However, VideForex is moving from one offshore country to another, and while claiming it has a license, it’s not true.
VideForex Warnings From Financial Regulators
A while back, VideForex was blacklisted by several authority bodies – Spanish CNMV, Italian CONSOB, and Belgian FSMA.
CNMV has stated that VideForex provides unauthorized financial services.
CONSOB and FSMA republished this warning, hoping that their citizens won’t fall for the scam.
Traders Reviews About VideForex Scam
It seems that trading company is back big time. The company is aggressively placing ads all over social media, and clients claim they are harassed until they make the initial deposit. However, once the time for the payout comes, this broker freezes their investment account, and they cannot even submit a withdrawal request.
Where Is VideForex Trading Scam Active?
Based on our review, broker mainly operates in:
- US
- UK
- Germany
- Canada
- Sweden
Supported Trading Platforms – Available Trading Software
VideForex enables WebTrader through a browser and as an app for desktops and mobile devices. However, this platform is a rather simplified TradingView chart and has no EAs, social trading, and many other functions that MT4 and MT5, for example, can provide.
The leverage goes up to 1:500, while the broker promises up to 95% return on investment in 60 seconds. Additionally, It seems that they provide binary options, not typical Forex trading.
VideForex Mobile App
The company has a free mobile app for Android and iOS users, matching WebTrader.
Everything About VideForex Trading Accounts
There are 3 VideForex account types.
In addition, the difference is in the deposit bonus going from 20% to 100%, the account manager’s seniority, and risk-free trades. We’ve checked a bit more since we all know there’s no such thing as a risk-free trade. Also , it seems that the broker will add a bonus if you lose your funds with the “risk-free trade.”
VideForex Demo Account
The firm has a Demo account as well, enabling clients to test the environment. However, virtual money can never be compared with real-money investment.
VideForex Range of Trading Instruments & Markets
The broker offers a standard trading instrument range:
- Currency pairs
- Commodities
- Indices
- Shares
- Cryptocurrencies
As per our review, there are a bit over 200 available assets which can be considered solid.
Also remember the names of the Swiss FX,Gravity TradeandFX Elite Tradertrading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
VideForex Deposit, Withdrawal Methods, and Bonuses
Trading company requires a minimum deposit of $250 and enables the following payment methods:
- Debit/credit card
- Wire transfer
- Cryptocurrencies
Besides, the firm gives up to a 100% deposit bonus. However, if you accept any bonus, the Bonus Policy suggests that you have to have 3 times turnover within 3 months before withdrawing funds. If it means to have a rollover of 3 lots, it basically means you will have to trade $300,000 before making a withdrawal.
Also, there’s a clause about withdrawals for accounts without a bonus – “Trader has to reach a 100% turnover from the deposited amount to claim for withdrawal.” So, let’s say you have deposited $50,000; you have to trade with all your money just to be able to get it back.
Scammed by VideForex Broker? – Tell Us Your Story
Finally, If you were scammed by VideForex or a similar bogus broker, let us know. Our chargeback specialists may assist you with the refund procedure.
But What Is A Chargeback?
Additionally, this is a way for your bank to reverse the funds from the merchant. Since this refund method is time-limited, it’s important to act now. So, contact us via online chat, and we will book a FREE consultation with one of our experts. Upon evaluation, you will be assisted with the refund. Let’s take the first step right away!