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BidAsko Review - Is it scam or safe?

BidAsko Review - is bidasko.com scam or good forex broker?

RATING: 2 / 1 REVIEWS BidAsko
BidAsko is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type

Minimum deposit

Minimum trade size

Maximum leverage 

Spreads  

Cent

$5

0.01

1:1000 

From 1.5 pips

Standard

$100

0.01

1:1000 

From 1.3 pips

Stock trading

$100

0.01

1:33

From 0.1

ECN Zero

N/A

0.01

1:1000

Low floating spread

ECN

N/A

0.01

1:500

from 0.1 pips + commission from $4 /lot

 

Indeed, BidAsko offers a large selection of accounts types, however the information about the trading conditions is inconsistent and incomplete. Basically, there are two groups of trading accounts with this broker: Standard and ECN. There is also a special account for trading in shares CFDs, called Stock trading account. Swap-free services are also available with BidAsko, as well as account management options (PAMM accounts). Keep in mind that exotic currency pairs are not available for trading on swap-free accounts.

 

BidAsko’s offerings seem typical for an offshore brokerage – low minimum deposit required, high leverage levels and competitive variable spreads. We tried to test its online trading services on a demo account, however it turned out that it is not available, unless you deposit.

 

We noticed another disturbing fact: BidAsko uses the same slogan as leading CySEC-licensed brokerage Forex Time (FXTM): “Time is money. Invest it wisely.” What is more, BidAsko has uploaded some images, which we have seen on FXTM’s website. Only the colors are altered.

 

Click on the image for a larger view

 

The Company. Security of Funds

 

Company

Country

Regulation

 SDT BROKERAGE CORP

Vanuatu

VFSC

 

Established in 2011, BidAsko is an offshore brokerage that offers trading in more than 50 currency pairs, CFDs on indices, commodities, shares and precious metals through the MetaTrader 5 (MT5) platform.

 

It claims to be a NDD broker, however, we cannot be sure, as the company behind the BidAsko brand, SDT BROKERAGE CORP, is a Vanuatu registered IBC.

 

Vanuatu is an offshore tax-free destination, where registration procedure for forex and binary brokers is fast and inexpensive. Minimum capital requirements are also low, amounting to $2000. This is even compared to other offshore destinations, such as Mauritius and Belize.

 

We advise traders to avoid non-regulated and offshore brokers and to select a forex broker licensed in UK, Cyprus, or Australia for instance, where traders have certain level of protection and where financial watchdogs exercise supervision over financial services providers.

 

Trading Platforms

 

BidAsko offers its clients the latest platform developed by Russian fintech MetaQuotes, MetaTrader 5 (MT5).

 

The main advantage of MT5 over its predecessor MT4 is the fact that it enables traders to execute trades on different financial markets (including stock markets) through a single account. In addition, MetaTrader 5's execution is faster than MetaTrader 4 and now that the hedging option is added to it, among other enhancements, it gains popularity both among traders and brokerages.

 

VPS service is also available with this broker.

 

Promotions

 

By the time of writing of this review, BidAsko offers welcome bonus of $50 (for a one month term), available to new Standard account holders. trading volume of 10 lots requirement applies for withdrawals with a leverage of 1:200.

 

Methods of Payment

 

BidAsko offers its clients wide range of payment options: credit/debit card, bank wire transfer, and e-wallets Skrill, Neteller, WebMoney, Payza, OKPay, dixipay, CashU, Yandex Money, Qiwi, Perfect Money, FasaPay.

 

Conclusion

 

BidAsko is a Vanuatu-registered forex and CFDs broker that uses the MT5 platform and offers a number of different account types, but no demo one. So, we could not test its services and the information on its website is somewhat inconsistent and incomplete. In our view, the main problem with this broker is that it is not regulated and also, that it uses slogans and images of FXTM. Here are, in a nutshell, the pros and cons of BidAsko:

 

Pros  Cons
MT5 available  Registered offshore  
NDD environment Inconsistent and incomplete information on trading conditions
Low initial deposit required  No demo accounts
Bonuses available  

 

Latest news about BidAsko
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Traders` reviews for BidAsko

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

A Scam broker

Segun este página rusa, dice que es Scam espero poder poner links

https://mmgp.ru/showthread.php?t=490710&page=4

Translated by Google:

According to this Russian page, it says that it is Scam I hope to be able to put links

jaine 10/14/2018
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