Modern online brokers are ready for the craziest things to draw your attention! Think of Videforex – they hire sexy ladies as a support team to consult users via live video stream! But are there any other advantages to respect Videforex for?
While a sexy female customer center trick is a good attention grabber, digging deeper into the Videforex website unveils some unpleasant facts.
Videforex is operated by Algobit Ltd, a company registered on Seychelles. The address is provided: 309&310 Office, Albert Street Victoria, Mahe, Seychelles. To be honest, offshore brokers are not the most credible financial partners to deal with, and when you mix this with the absence of a license, you may end up with quite a risky combination.
The broker does not explain its real trading environment. You will not find tables with leverage ratios, spreads, margins, and other essentials which a curious trader may want to know first of all. It is not a sign of a serious broker. However, the list of tradable instruments is hidden in the “Trading Platform” section (why not make it clearly-visible?):
Trading is executed on a platform called Binarymate which comes with three versions: a web-based solution and mobile apps for Android and iOS. The platform is equally good to trade binary options and CFD with a live video chat (can Videforex go without their beautiful female operators?)
The platform interface seems not to be overwhelmed with sophisticated functionality and is more focused on non-professional traders. However, advanced charting is available if you take time to scrutinize the software, as well as a copy-trade feature.
If you continue to explore their trading platform, you will see that a fixed spread for a popular EUR/USD asset is 2 pips, which is not the lowest offer in the field.
$250 will be enough to open an account with Videforex, though the sum can be even higher up to $50000. Get ready that a deposit bonus will be imposed on you. Bear in mind that it cannot be withdrawn unless a trader reaches a 300% turnover from the deposited amount.
However, there are some positive moments with this broker, too: