Videforex Review (2024 Update)
Reason to avoid: Offshore License
Listed Date: June 25, 2020
Top 3 Forex Brokers
Beware VideForex Review is a Non-Regulated broker. It is NOT SAFE to trade.
- Our Review
- Videforex (2024 Update) User Reviews
- Videforex (2024 Update) News
Is Videforex Scam or 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, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.
- It is not safe to trade with Videforex, as it is an offshore company. Videforex as the Company is 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 being low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as CobraCFD, GoldenSkyCapital, and more.
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 |
What is Videforex?
Videforex offers Forex, CFD, and Options trading with more than 100 assets available for trading. The broker guarantees the clients can trade from any device, any time, with the highest level of security, a wide range of funding and withdrawal methods, and 100% secured trading with data protection. However, it seems like the broker is missing the most important, the regulation.
- However, Videforex doesn’t hold any license from a trustworthy and reputable authority. The broker does not provide any trading conditions/details as well as its address. All regulated brokers keep this information transparent for their clients. The lack of these details can indicate 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. 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 U.S law, brokers regulated by CFTC are the only brokers allowed for USA traders. So, except for Videforex, you are only permitted to trade with the U.S-regulated platforms.
VideForex 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, or Perfect Money. The funds will be available for trading immediately, after confirmation from the payment system.
The minimal amount allowed for withdrawal is $50. Videforex 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 accounts 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.
VideForex Review 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 and 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 Admiral Markets.
Videforex Update
Based on our findings, Videforex website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case any proposals.
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I placed my withdrawal 7 months ago and Videforex choose not to pay my money…. this is January 23rd, 2024… they stop replying my messages and they don’t want to pay my money.
Do we know if we can sue this company? We need to find a way to stop this !
I was chatting with one of your customer service…. asking her when can I get my money and she blocked me.
Meaning Videforex don’t want to pay me my money.
I need my money back. Placed this withdrawal 29th of December 2022…
I am still waiting for my money Videforex.
Pay me my money.
Yes it is a scam. I put a $900 withdrawal request in nearly 2 months ago and I have yet to receive the funds.
Here is an email chain of what has proceeded since the withdraw request was put in.
Me:
Hello Jared,
It has been 48 hours and I still do not have the funds.
CS:
Hello.
I have assigned a financial department specialist to work on your withdrawal individually.
We’ll do our best to resolve it tomorrow.
Me:
Just checked my account and I still do not see the funds… When do you think this will be resolved?
CS:
Hello.
I’ve contacted the financial department, they were supposed to finalize it at the end of last week.
I’ll keep you posted.
Me:
I don’t see it, what is going on…
CS:
Hello.
We are expected to clear the withdrawal by 29th of January.
Me:
Just checked my account the funds are still not there…………
CS:
Hello.
We are still working on the withdrawal.
Apologies for the delay.
We should be done this week for sure.
Me:
They are not there, call me now.
It just continues to go back and forth with empty bullshit promises of having the funds and them “clearing” at a certain time period. I am not sure if I will ever see this money. Don’t touch this bullshit broker.
Scam, they won’t give you your money back. Don’t give them money or you’ll never get it back.
Hello everyone in this comment section,
I am a security researcher for a firm specializing in cryptocurrency fraud and would like to hear about your experience with Videforex. Information you provide could help make an impact on our report. I will never ask you for personal identifying information nor anything having to do with your cryptocurrency.
Please reach out to me for questions.
Thank you
I started with about 7500k took the bonus to start my account with 15 K thought I reached the turnover when I hit 50k in turnover but it then said i needed 66k in turnover (which is more than 300% with the bonus) I then made a withdrawal for 4k on 4/20/22 and have yet to receive it all they keep saying is that they’ve escalated my withdrawal request and that they’re sorry.
Nice Review. Looks like a scam
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.
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
Same here! Deposited $2k and they want 20% more in “fees” for me to withdraw it. Total scam!
I went through the same complaint with some of the people on here. Companies like vidforex need to be on a list of fraudulent brokers. What they’re doing is bad for business and gives a very negative image of the industry and destroys “trust” between consumers and broker platforms.
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.
Yes, what I am facing now. Suspicious activities after I increased withdrawals. Account is blocked. No reply.
As soon as u win and as soon as u withdrawel more then u deposite, they Will block u immediatly. Only stupid Will go and trade there, by the way i reached my account twice 83k usd and got nothing
OJO SON UNOS LADRONES SON ESTAFADORES
El Peor bróker que robo tan grande no me permitieron ni hacer un solo retiro no arriesguen su dinero con esta gente son unos ladrones y el decir es que notaron cosas sospechosas en la cuenta claro las tales cosas sospechosas era que como uno les gana algo de dinero eso es no que no les gusta eso no es normal para ellos todo el beneficio lo quieren tener es para ellos tras de que exigen un turnover que no es fácil hacerlo cuando uno lo logra hacer ya le salen a uno con estas payasadas de que hay algo sospechoso sabiendo que uno siempre tiene contacto con ellos y todo lo que le exigen uno se los envía y después empiezan a ponerle cantidad de trabas a uno para que uno no retire el dinero le empiezan a ofrecer bonos culos y cuando ya ven que uno no los quiere recibir ya ellos ahí es donde se roban la cuenta para no responderle a uno legal mente por el dinero que uno ya se gano que injusticia
They blocked my account after requesting to withdraw portion of my money. the claim due to suspicious activities my account is blocked. Big SCAM broker. My account worth $60000 and now I received big zero from the broker.
Same is happening to me. SIZEABLE account, claiming I need to reach turnover, etc. I already reached turnover many times. It’s been 3 weeks.
DO NOT USE THIS BROKER! I’VE BEEN IN DISPUTE WUTH THEM FOR ALMOST A WHOLE WEEK BECAUSE THEY KEEP CANCELLING MY WITHDRAWAL REQUEST! THEY SAID I HAD TO TURN OVER REFERRAL DEPOSITS BUT TOLD ME BEFORE I ACCEPTED THE REFERRALS THAT I WOULDNT HAVE TO DO THAT. THEY THREATENED TO REMOVE THE REFERRAL COMMISSIONS IF I WANTED TO PROCEED WITH THE WITHDRAWAL AND I SAID PLEASE DO SO AND PROCESS MY DEPOSIT AND THEY STOPPED RESPONDING. MY ACCOUNT US SIZABLE! UNLESS YOU LIKE NOT HAVING ACCESS TO YOUR OWN MONEY, DO NOT USE THIS BROKER AND DO NOT REFER ANYONE TO USE THIS BROKER! I EVEN FORWARDED THEIR OWN EMAILS WHERE THEY CONTRADICTED THEMSELVES AND THEY’RE IGNORING IT!
Videforex is a big scam. Funded my account via bitcoin with a wallet address i copied and pasted from their platform, but they have refused to fund my account, saying that the address is not theirs, how can it not be theirs when i copied it from my account in their platform. Beware of videforex. your money is not safe with them
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.
I’m in the same situation did you ever withdraw your money?
Omg…… this is what I am dealing with right now as well
Scam!!!
They’ve cancelled all my trades after big wins.
Hi Marcin, how did they cancel your trade? I am having a hard tie getting my money from them>