What is Forex Trading and How Does it Work?

Videforex was established in 2016 and is operated by INVOLVA CORP, located in the Marshall Islands. The broker is not registered with any financial https://www.broker-review.org/ authorisation or regulatory body. Yes, but you need to make a deposit first and contact customer support to get your demo account credentials.

Customer Support

Foreign exchange (forex) trading is the process of buying one currency and selling another with the goal of making a profit from the trade. Forex (FX) is a portmanteau of the words foreign and exchange. In the past, forex trading was largely limited to governments, large companies, and hedge funds. Many investment firms, banks, and retail brokers allow individuals to open accounts and trade currencies.

Leverage Review of VIDEFOREX Broker

Even though Seychelles has their own regulatory authority who governs the financial services businesses based here, VideForex remains unregulated by them. While this is somewhat concerning, VideForex comes from a reputable background and has been competently providing trading services since 2016. As mentioned earlier, VideForex is an international trading brokerage that serves traders from all over the world. However, they do not provide services to traders from the US and parts of Europe and Asia.

  1. Obviously, lack of information doesn’t mean that there is a VideForex scam going on.
  2. Major indices provided by this broker include US DOW, S&P 500, Nasdaq, DAX, FTSE 100 UK, ISE and many others.
  3. There are various account types and their features are clearly explained.
  4. So as always I questioned firstly whether this broker has a demo account.
  5. VideForex features their very own proprietary web based trading platform that’s accessible via any web browser on most desktop computers and smart mobile devices.

How do I know I can trust these reviews about Videforex?

The broker is operated by Vide Projects Ltd, a company registered in Seychelles, an offshore jurisdiction that does not regulate forex or binary options trading. This means that Videforex is not subject to any audits, inspections, or compliance checks by any authority. It also means that the broker can set its own terms and conditions, fees, and policies without any transparency or disclosure. Countries like the United States have sophisticated infrastructure and markets for forex trades.

Trading platforms

Traders are issued with top trading tools, personal account managers, and advanced market analysis. What we loved most about VideForex’s customer service is their modern video chat feature. One thing we noted about the broker is that they charge a specific commission to traders who choose to open unleveraged digital currency CFD positions. For example, let’s assume that a company ABC’s stock price currently trades at $24. The trader buys a binary option with a strike price of $25, and expires after one day.

Rewards & Risk Review of VIDEFOREX Broker

Their guidance and support have played a significant role in my trading journey. I must mention the timely withdrawals that Videforex ensures. I highly recommend giving Videforex a try to experience these benefits firsthand. Honestly VIDEFOREX is The Best platform I work with when it comes to trading fp markets review options. Fast and easy trades can be very profitable and makes you feel amazing, AS LONG AS YOU HAVE A STRICT DISCIPLINE TRADING STRATEGY. Other than that the platform provides Quick and Fast customer support which includes LIVE Chats with Their team representatives and as well as email support!

Other Trading Fees

This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. Like most financial markets, forex is primarily driven by the forces of supply and demand, and it is important to gain an understanding of the influences that drive these factors. A key advantage of spot forex is the ability to open a position on leverage. Leverage allows you to increase your exposure to a financial market without having to commit as much capital. Forex markets are among the most liquid markets in the world.

An interesting aspect of world forex markets is that no physical buildings function as trading venues. Instead, it is a series of connected trading terminals and computer networks. Market participants are institutions, investment banks, commercial banks, and retail investors from around the world. In this example, a profit of $25 can be made quite quickly considering the trader only needs $500 or $250 of trading capital (or even less if using more leverage). The flip side is that the trader could lose the capital just as quickly.

Furthermore, there is no way to verify the legitimacy, credibility, or reputation of the broker. The foreign exchange market is open 24 hours a day, five days a week – from 3`am Sunday to 5pm Friday (EST). So, you can trade at a time that suits you and take advantage of different active sessions. The cost of trading forex depends on which currency pairs you choose to buy or sell. With IG, you’ll trade forex on margin, which means you need a small percentage of the full value of the trade to open and maintain your position. Margin isn’t a direct cost to you, but it has a significant impact on the affordability of your trade.

In terms of trading costs, Videforex is also quite an expensive option. For instance, there is an average spread of 1.5 pips, and an account fee of $1 for forex trading. For CFD trading, the spread is variable and based on market conditions. Professional traders could deposit in excess of $1,000 to open a Silver account. This comes with a master class (web session) included, while the gold account features include a personal success manager, as long as you deposit more than $3,000.

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