AskoBID-Overview of Minimum Deposit, Spreads & Leverage

BASIC INFORMATION

AskoBID offers a proprietary trading platform, providing access to popular instruments such as currency pairs, crude oil and Bitcoin. AskoBID is an unregulated broker established in 2009. The company offers an all-inclusive trading service across 4 accounts to suit different experience levels. A range of resources are available, including market analysis and webinars.

REGULATORY INFROMATION: LICENSE

No valid regulatory information

Please be aware of the risk!

MARKETS

Traders can access 24 currency pairs such as EUR/USD and GBP/USD, as well as 9 stocks, including Google and Coca-Cola. There are also 4 indices available (S&P 500, NASDAQ, Dow Jones, and DAX), 9 crypto pairs, including Bitcoin and Litecoin, plus commodities.

FEES

The broker offers floating spreads across all asset classes. Unfortunately, this review was disappointed to see average spreads arent made available, which does point to a lack of transparency.

There are some additional charges, including a 10% inactivity fee based on available account balance following 90 days of no use. There are also overnight financing fees on positions rolled over into the next day

LEVERAGE

Leverage is available up to a maximum of 1:500. New traders should thoroughly research the risks involved when trading on leverage.

ACCOUNT TYPES

There are four account types on offer at AskoBID: Basic, Professional, Gold, and VIP.

The minimum initial deposit is €250. All accounts offer leverage up to 1:500 (which is fixed for the Gold and VIP accounts). Spreads are also fixed in the Gold and VIP accounts. As you move from Basic to VIP, clients benefit from account managers, special events, signals, and webinars

PAYMENT METHODS

AskoBID offers four main funding methods: credit and debit cards, AlphaExchange e-wallet, international bank transfer, and local bank transfer. Funding is only available in Euro.

Deposit processing times are instant for cards and e-wallets and up to 5 working days for international bank transfer. It can take up to 7 business days for withdrawn funds to appear in your account. As indicated in the brokers refund policy, clients are subject to a 4% withdrawal fee

TRADING PLATFORMS

AskoBID does not offer a demo or trial account at this time. This is disappointing as most brokers offer this for beginners who want to try out the platform, or for experienced traders who want to improve their trading strategies without risking real cash

TRADING HOURS

Forex is a 24-hour market; however, platform trading sessions vary from broker to broker. Trading sessions at AskoBID can be found by hovering over the instrument symbol within the platform

CUSTOMER SUPPORT

You can contact customer service by filling in the online contact form, emailing support@askobid.fm, or by calling one of the international contact numbers on the website. Theres also responsive live chat support, plus Telegram.