1BID

1BID Information

1BID is an online forex broker registered St. Vincent and the Grenadines less than a year ago. In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.

At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.

Pros and Cons

Is 1BID Legit？

1BID, operated by ONEBID ASSET LLLC, is regulated in Saint Vincent and the Grenadines, authorized by the Financial Services Authority (FSA) under license no. 2432 LLC 2022.

Market Instruments

Currency pairs, indices, commodities, metals, energy, cryptocurrencies.....1BID allows clients to access over 1,000 tradable instruments. Therefore, both beginners and experienced traders can find what they want to trade on 1BID. However, we noticed that shares trading is currently not available.

Spreads and Commissions

The NANO account, designed for beginners, features no trading fees and is swap-free, allowing traders to start with minimal lots. The STANDARD account, suitable for advanced traders, offers floating spreads from 1 pip with no commissions across over 1000 assets. For professionals, the ECN account provides market spreads and direct liquidity access, emphasizing low spreads. The premium PRO account builds on the ECN model, adding a $10 per lot cashback, a 10% interest rate, and VIP services.

Account Types for 1BID

Demo Account: 1BID provides a demo account that allows you to try out the financial markets without the risk of losing money.

Live Account: 1BID offers a total of 4 account types: Nano, Standard, ECN and Pro. The minimum deposit to open an account is $100. The threshold established by 1BID for opening an account is not tall. However, we should also realize that too little capital not only reduces losses, but also reduces profitability. Therefore, you may find it “unexciting” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions.

Trading platform offered by 1BID

The MT5 trading platform features powerful charting capabilities, including over 50 different technical indicators and intraday analysis tools. Access from a variety of devices also makes trading easier for users.

Leverage Offered by 1BID

1BID offers a maximum leverage of up to 1:500, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.

Deposit and Withdrawal: Methods and Fees

Deposit Options

Withdrawal Options:

Educational resources

There is no education section on the 1BID website. Many brokers are able to provide some basic educational resources such as video courses, seminars, e-books, related articles, glossaries that provide some basic knowledge about trading. This is not the case with 1BID.

Customer support 1BID

Below are the details about the customer service.

Language(s): English, Vietnamese, Thai language

Email: info@onebidasset.com

Phone Number: +66811417611

Address: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent and the Grenadines

Conclusion

To provide a summary, 1BID is an offshore-regulated online forex broker that doesn't provide a beginner-friendly MT5 trading interface and has few educational tools, making it more suited to seasoned traders than beginners. In this way, traders without experience are advised to look elsewhere.

FAQs

Is 1BID legit？

Yes, 1BID operates legally. But it is regulated offshore, suggesting a weak impact on protecting clients' safety.

Does 1BID offer demo accounts？

No, 1BID does not provide demo accounts.

Is 1BID a good broker for beginners？

No, 1BID isn't the best option for beginners, as it is regulated offshore and doesn't provide useful tools like MT4, demo accounts, and educational materials.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.