Binary Options Broker VideForex

The binary options broker VideForex is a clone of another fraudulent company, RaceOption. Their websites are nearly identical, and the user agreements are clearly copied. Both "brokers" are registered at the same address, have the same trading platform, and have identical social media presences. Whether this is a coincidence or a deliberate plot by the same scammers — we'll find out in this review.

Content:

• Key Features of a Binary Options Broker
• General information about the broker
  • Domain registration
  • Licensing and Regulation
  • Social media promotion
  • Trading conditions
• Register with VideForex broker
• Verification of personal data
• Minimum deposit on the VideForex platform
  • Depositing funds to a broker account and withdrawing funds from the site
• Account types
• Trading platforms
• Competitions and bonuses
• Educational programs
• Customer support service work
• VideForex user reviews
• Pros and cons of a broker
• Conclusion: Is VideForex Worth Trading?

Key Features of a Binary Options Broker

General Information About the Broker

VideForex is yet another scam masquerading as a binary options broker. Like many similar companies, this scam broker promises unrealistically high payouts on its website – up to 95% in just 60 seconds – as well as generous cash prizes and gifts. Clients are offered a choice of four account types: bronze, silver, gold, or VIP. The only difference between them is the minimum deposit amount and the availability of so-called expert trading support from the "broker."

Domain Registration

According to the publicly available Whois database, the domain videforex.com was registered in February 2017, and the first website appeared on it in March 2018. This can be considered the start of the VideForex fraudulent project.

Licensing and Regulation

The weakest link in the chain of lies of fraudulent websites like VideForex is the registration and licensing documents they present for the companies they claim to own. Simply verify this information to immediately recognize that you're dealing with scammers.

The footer of VideForex's official website states that this pseudo-broker belongs to INVOLVA CORP. It is reportedly registered in the Marshall Islands under number 104693.

However, a check of the Pacific island nation's registry shows that this company's registration was cancelled back in May 2022. The fraudulent broker faces similar regulatory issues. Even a second-tier regulator, FMRRC, reveals its license expired back in February 2024.

Thus, at the time of writing this review, the scam broker VideForex had neither a license nor documents confirming the registration of the company to which it allegedly belongs.

Social Media Promotion

The fraudulent broker VideForex has no social media presence. The only link, leading to an empty social media profile on X, is available exclusively on the Russian-language version of the website.

As you can see, no one even tried to promote this project on social media, which is a clear sign of fraudulent activity on the part of the so-called “broker”.

Trading Conditions

VideForex offers its clients assets ranging from standard currency pairs , commodities, and cryptocurrencies to stocks, as well as more exotic ones, such as pools for cryptocurrencies, currencies, and the synthetic TRUMP vs. MUSK index. In these pools, traders are divided into teams, betting on the index's rise or fall. Trade returns in these pools are typically high, as winners split the bets of losers.

Prices for most assets are generated by a special algorithm, as indicated by the special OTC marker. Assets with this index are traded 24 hours a day, excluding weekends and holidays.

Register with VideForex Broker

Registration with the scammer VideForex follows the standard procedure, just like with legitimate binary options brokers: fill out a form and gain access to the trading platform.

Once you gain access to the trading terminal, you'll be able to participate in contests, view trade and financial transaction statistics, and connect your account to the copy trading service. However, we don't recommend doing this with a company with such a poor reputation as VideForex.

Verification of Personal Data

To use all the features of the VideForex platform, you must verify your personal data.

The verification process, shown in the image below, involves several steps: first, you need to provide your first name, last name, and phone number, then select an identity document from the list, upload it, and take a selfie with it. We warn you again about the risks of sharing such information on this scammer's website.

Minimum Deposit on the VideForex Platform

The minimum deposit on the VideForex platform is $250, which is significantly higher than that of most binary options brokers. This is another reason to consider opening an account with this company. For comparison, the binary options broker Pocket Option has a minimum deposit of just $5, while Quotex has a minimum deposit of $10. The difference is clear. If you're looking for other options to start trading with small amounts, we recommend checking out our rating of binary options brokers with minimum deposits.

Depositing Funds to a Broker Account and Withdrawing Funds from the Site

You can fund your account with the fraudulent broker VideForex using VISA and American Express bank cards, Changelly and Paybis exchangers, as well as Bitcoin, Ethereum, and other altcoins.

Account Types

The scam binary options broker VideForex offers five account types: Bronze, Silver, Gold, VIP for real trading, and a demo account for training.

Trading Platforms

For trading, VideForex offers a mobile app running on the Android operating system and a web terminal, allowing traders to conduct comprehensive technical analysis. The terminal has several operating modes, the most functional of which is TradingView, named after the popular trading platform. In this mode, users have access to over 100 technical indicators, more than sufficient for comprehensive analysis. Graphical analysis tools are also available if needed.

The terminal also features an AI-powered trading mode, but we don't recommend using it. If you're interested in AI-powered trading, we recommend checking out a similar feature from the broker Pocket Option — we covered it in detail in the article "How Much Can You Earn with Pocket Option's AI Trading? Testing It in Real Money."

There's another point we've noticed: VideForex's trading platform and asset selection are exactly the same as those of other scam projects like RaceOption and IQcent.

Moreover, all of these scam projects are registered at the same address: Trust Company Complex, Adjeltake Road, Adjeltake Island, Majuro, Marshall Islands, MH96960. All of these companies' registrations were cancelled in 2022, as confirmed by the Marshall Islands' legal entity registry. Therefore, we urge you to be vigilant and avoid falling into the clutches of these scammers.

Competitions and Bonuses

VideForex, a clone of the fraudulent RaceOption platform, also offers its clients weekly trading contests with a $20,000 prize pool. Most likely, the winners of these "competitions" are fake accounts, and the event itself is nothing more than a marketing ploy to attract new victims to this scam.

Unlike RaceOption, the VideForex website doesn't offer any giveaways, and the "Promotions" link takes you directly to the trading terminal. What kind of giveaways? Just deposit funds.

Educational Programs

The VideForex website doesn't even hint at educational materials. Clearly, the scammers who created it don't care about educating their clients. By comparison, leading brokers like Pocket Option and Quotex publish educational content on blogs, YouTube, and Telegram, helping traders develop and trade more successfully. On our website, you can also take a comprehensive binary options trading training course and find the optimal strategy.

Customer Support Service Work

VideForex's customer support is somewhat unusual. In addition to the standard contact forms, the trading terminal and website also feature a supposedly live video chat. On the main page of this scam, you can see a woman named Katrina pretending to be a customer support operator.

It's obvious at first glance that this is a pre-recorded video, which has nothing to do with live customer support. The scammers likely intended this to increase engagement among visitors to their scam site. Katrina can be viewed in all languages ​​except English and Chinese. Apparently, she hasn't yet learned them.

VideForex User Reviews

As you might guess, reviews from real clients of this scam project speak for themselves. Here are just a few.

Pros and Cons of a Broker

It's quite difficult to find any positives in a fraudulent project. They likely relate to the trading platform rather than the company itself.

Conclusion: Is VideForex Worth Trading?

VideForex is not a binary options broker, but a scam franchise. This pseudo-broker has the exact same trading terminal and asset portfolio as other well-known fraudulent companies, such as RaceOption and IQcent. They all share the same address and have had the same legal problems, resulting in their registration being revoked even in such an offshore jurisdiction as the Marshall Islands, which is so privately compliant.

Based on reviews from real clients — traders who actually suffered at the hands of the VideForex scammer — one clear conclusion can be drawn: this binary options scam broker fails to pay out profits and misappropriates its clients' funds. We strongly advise against opening accounts with any of the scammers mentioned above. Instead, choose reputable companies from our rating of reliable binary options brokers.

Choose a reliable broker

See Also:

• Binary Options Strategies
• Are binary options a scam?
• How to choose the right binary options broker
• What to do if your broker won't withdraw your funds