WikiFX Broker's Review: Trade With Risk With VIDEFOREX

While the forex industry is becoming more regulated, unscrupulous brokers have begun to devise new methods to defraud investors. In general, it may be difficult to get advantages from a financial intermediary who employs deceptive strategies to deceive you. VIDEFOREX, one of the fraudulent brokers, is highlighted here.

WikiFX researched VIDEFOREX and the findings are shown below.

About WikiFX

WikiFX is a forex trading search engine that offers up-to-date regulatory information about forex brokers. It lists more than 38,0000 brokers, both regulated and unregulated. The data in WikiFX are sourced from legitimate regulatory bodies like the FCA, ASIC, and others. Fairness, impartiality, and facts are also emphasized in the released information. WikiFX does not charge public relations fees, advertising costs, ranking fees, data cleaning fees, or any other unreasonable expenses. WikiFX will do everything possible to keep the database consistent and synchronized with authoritative data sources such as regulatory bodies, but cannot promise that the data will always be up to date.

A Quick Overview of VIDEFOREX

Videforex is a Marshall Islands-based offshore broker. Founded in 2017, the firm claims to be the brand name of INVOLVA CORP, with Marshal Islands Registry restrictions. The broker claims to specialize in Forex, CFD, and options trading. The firm also claims to have over 5,000 clients globally and a trading volume of $3.7 million. The broker provides a web-based trading platform and attracts customers with exclusive incentive offers, trading competitions, and referral payments.

Is VIDEFOREX a regulated broker？

VIDEFOREX is not a regulated product. The broker claims to have Marshal Island Registry regulations (IRI). According to the IRI record, the registration was revoked on May 27, 2022. It is important to note that the IRI does not provide licenses to forex brokers or regulate forex-related activity. The broker is also not registered or regulated anywhere else.

CLIENT FEEEDBACKS

VIDEFOREX has received negative comments from customers. The firm is chastised for its withdrawal problems, confusing trading terms and conditions, unfair account closures, incorrect information on the website, and so on. Clients have regularly denounced the broker's unethical behavior on multiple sites, including WikiFX. Let us show you some screenshots of investors' reactions to the firm.

Client Feedback from other reliable review sites

How Does VIDEFOREX Scam Its Customers？

When you visit the broker's website (https://videforex.com/), advertising appears, encouraging you to look for new offers and promotions and collect your rewards. Furthermore, to encourage clients, the corporation routinely holds trading competitions and arranges gift events.

Those who have been trading financial markets for a time are unlikely to be swayed by this kind of article. However, newcomers may be unable to avoid slipping into its trap.

According to customers, the firm begins following up once you sign up with the broker. The broker offers misleading promises, seducing you into unrealistic profit-making transactions and demanding payments. When consumers deposit monies into their accounts, the firm allows them to access and trade on its specialized web-based trading platform.

Everything seems to be working to your advantage since the broker manipulates the price. When you file a withdrawal request, the corporation surprises you with new withdrawal criteria and makes it difficult to speak with even customer support staff.

Why do we think VIDEFOREX is one of a fraud brokers？

For starters, it is an unregulated offshore organization with little or no information regarding its origins, license, or the security of its customers' cash, trading conditions, spreads and fees, accessible leverage, and so on.

Second, the broker's website looks to be more of an advertising tool, luring customers in with alluring incentives and promotional packages.

Furthermore, the broker does not provide access to third-party trading platforms such as MT4 or MT5. It indicates that if the corporation intends to have greater influence over the transactions of its customers for price manipulation.

Finally, there must be something fishy about the broker since 73% of customers have complained about joining up with it.

How can you avoid signing up with an unlicensed forex broker like VIDEFOREX？

Conduct in-depth research using the WikiFX App based on the facts provided here. Look for the broker's name and then go to the broker's official website. Based on the domain registration date, determine if the broker's website provides correct information. Make their physical address available on the internet. On the official website of the regulatory authority, look for the firm name or registration number. For quick result you may contact WikiFX Customer Support, contact details are shown below.

In Conclusion

Because new brokers are constantly entering the forex market, it might be difficult to select a reliable middleman. You may, however, prevent joining up with a fake business by researching a broker's regulation and reputation on WikiFX. Brokers monitored by top-tier authorities, including the UK FCA, ASIC, and CySEC, are often regarded as more trustworthy.

Visit VIDEFOREX dealer page on WikiFX for more info: https://www.wikifx.com/en/dealer/1541335686.html

Keep an eye out for further VIDEFOREX news.

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