VideForex is a binary options trading provider that rebranded and added CFDs into play. However, the company still promises up to 95% ROI in 60 seconds. As you can tell, it’s just a lure.
Additionally, the scheme reminds us a lot of the one by IQCent, and we’ll elaborate on why. Keep on reading our in-depth VideForex review, and you will understand everything.
In the past, VideForex was owned and operated by Algobit Ltd, a notorious company behind many binary options scams. The firm has been banned in the EU and US for running AstroFX, OctaveTrade, and Binarymate.
After the old owner’s reputation was “burned,” the firm changed domain, going from videforex.com to videforex.io, and registered as a brand of Involva Corp. The current owner is based in the Marshall Islands, a country known for its loose supervision of the financial markets.
There’s GLOFSA, an independent organization that took it upon itself to oversee the activities of Forex, CFD, and binary options brokers. So, the logical step was to look for VideForex regulation in their database. Of course, we found nothing.
The company has presented us with a false license issued by IFMRRC. When we said it reminded us of IQCent, here’s why. Both brands offer binary options trading, and both have a fictitious license by a non-existent regulator. This site has been serving only by issuing fake regulations to brokers prepared to scam customers and steal their money.
VideForex is a typical binary options scheme running unlicensed. The firm has been banned in France, Spain, and Italy.
Our detailed research has shown that most of VideForex victims come from:
It’s a matter of time before the respective regulators in these countries will react and ban the fraud.
That sounds like a great way of running a business, right?
There’s one VideForex trading platform on offer – WebTrader. However, we were unable to access the software even upon account registration. As soon as you sign up, you must deposit the money before being able to look around.
We’re unwilling to invest even a penny with a scheme broker, so we cannot comment much on their offer. We can, however, say that the broker claims to offer mobile platforms and has added a link to the Google Play Store for Android users. Yet, the link is broken and doesn’t give access to any software. At this point, we highly suspect there is one.
Regulated brokers attract so many investors because they offer reliable software, such as MT4, MT5, or cTrader. With each of these, you can have peace of mind knowing you’re getting the best.
If you want to trade, you can choose among five asset classes:
Note that all assets are set to binary options trading by default. However, when you register, you can request CFD trading instead.
Let’s take a look at the different VideForex account types and their benefits.
Besides the minimum deposit, nothing much is different. Customers can get a 20%, 50%, or 100% deposit bonus, respectively.
If you trust the site, yes. However, if you check the FAQ section, you’ll find more details about the VideForex Demo account. There, you’ll notice that the broker says you can access a risk-free account after you fund your account.
Practically, they want to trap your money before allowing you to see the software. We’re pretty doubtful if there is software at all, so this might be the reason behind such unusual criteria.
On the website, we found a list of VideForex withdrawal methods, which include:
The firm charges 5% for cards, while crypto transfers are free. Knowing that digital coins are hard to track and trace and are not subject to a chargeback procedure, it’s clear why scammers love them.
If you’re about to deposit and you’re unsure about the firm, it’s always better to use your card. That way, you’re entitled to a chargeback within up to 540 days after the transaction occurred.
First, it’s essential to understand that you’re not alone. VideForex broker has defrauded many. Global Fraud Protection is working on exposing various trading swindlers every day and assisting victims with monetary recovery.
Whether you used your card or a crypto wallet for a deposit, there might be a way to recover your money. Book a free consultation with our chargeback experts and CipherTrace crypto analysts, and we’ll see what we can do.
VideForex is not a legit broker. If you have already invested your money with this scam firm, we might be able to assist you with a recovery procedure.
The company claims to enable access to a Demo account after you deposit the money into your Live one.
Yes, the broker offers a 20-100% of the deposit bonus, but ensure you read Bonus Policy first.
VideForex is not a legit broker. If you have already invested your money with this scam firm, we might be able to assist you with a recovery procedure.
The company claims to enable access to a Demo account after you deposit the money into your Live one.
Yes, the broker offers a 20-100% of the deposit bonus, but ensure you read Bonus Policy first.
The post VideForex Review 2023 – Do They Deserve Your Financial Trust? appeared first on Global Fraud Protection.
