A trading platform called Videforex has been operating since 2016 and its design has not changed since its inception. The reputation of the site is negative – users are sure that this is an undisguised scam. They offer to cooperate by communicating in a live online chat with beautiful girls.
Let’s figure out what the fraud from Videforex is and how to recognize the fraud on the part of a brokerage company.
Basic information about Videforex. History, registration and licenses
Videforex does not want to talk about itself – there is simply no section with the history of brand development and information about the management. Even on a page with frequently asked questions, the sharashka avoids publishing data on its registration and regulation.
More information can be obtained from the study of the footer of the site – it says that the official site of Videforex is owned by INVOLVA CORP, which is registered in the Marshall Islands, and a template location for all scams is used as an address. Moreover, the hero of the review has at least two twin brothers – BraxTrader and Binarymate, which have an identical design.
Contacts, communication with the broker and reviews
The girls who greet the user on the homepage are not really going to answer questions in real time. Scammers from Videforex perfectly cover fraud with looped videos, and only a bot responds to clients in the chat. System messages say that the investor will be contacted soon, but in practice, the trader is communicated with as long as he has money.
The reviews published about Videforex eloquently describe the fraudulent scheme – scammers lure to the site, offering quick money on binary options. Then comes the classic scam by imitating trading activities in the terminal, and the cooperation ends with a full drain of the deposit.
Registration and entrance to your personal account. What accounts does the broker offer?
A demo account on the scam website is not offered to the user for obvious reasons, because the swindlers are only interested in pumping out money. Registration at Videforex is standard; a phone number and some other data are required from the trader.
There are three trading accounts to choose from, and, as the review of trading conditions showed in Videforex, you should not count on a high quality of service.
No specifics regarding trading terminals, margin requirements and asset specifications are given in any of the sections of the site. The crooks also tactfully decided to keep silent about how to withdraw funds from Videforex.
Signs of fraud. What should you pay attention to?
The site review showed that Videforex broker works as an anonymous scam and has been successfully breeding gullible users for 5 years. What indicates the bad faith of the office? The user needs to remember the following:
Videforex does not have a license to carry out brokerage activities – it works anonymously and is registered offshore, which excludes any possibility of officially compensating for losses;
it has several identical sites under different names – this is a common practice of swindlers;
the site lacks clear trading conditions and even contacts for communication.
The decision to open an account at Videforex is guaranteed to result in a complete loss of funds for the user – you should not check the reliability of the broker on your own wallet. Better to listen to the feedback from affected customers and look for another broker.
