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ASKoBID Broker Review

The business Solt Corp Ltd. owns the trading brand ASKoBID. Saint Vincent and the Grenadines is the home of this business. The European Union currently criticizes this nation for being a tax-cooperation-unfriendly jurisdiction.

To get around the rules elsewhere, brokers frequently establish offices there. The broker provides its services without being authorized by a financial watchdog.

Deposit Bonuses ASKoBID

ASKoBID has a very shrewd strategy for luring in new customers. The broker offers a bonus on each deposit, just like InstaForex.

Traders may gain an additional 50% on their account balance, depending on the deposit amount. To withdraw money, traders must, however, trade the bonus 20 times. Any new traders would have most likely lost the payout in those conditions.

Authorities Call Out ASKoBID

The ASKoBID fraud has been identified by regulators, and they are taking all necessary steps to limit its operations.

The Austrian FMA issued a warning in August 2020 claiming that the broker is obviously working under a license. The Italian regulatory body CONSOB has issued a similar warning to dealers there.

ASKoBID Trading Platform and Conditions

Instead of the far more popular MetaTrader 4, ASKoBID employs a peculiar browser platform. According to our evaluation of ASKoBID, the platform lacks some of the key capabilities that traders require to efficiently execute trades.

Additionally, the broker doesn’t offer a free trial, therefore only paying clients can access the platform. The platform looks more like a binary options platform than one designed for CFDs and forex because of the sparse information it offers.

The broker’s spreads are extremely expensive. Their EUR/USD spread, for instance, is 2.9 pips. On this pair, traders would prefer a spread of just 1 pip. The broker’s selection of assets is adequate but not particularly noteworthy.

The normal minimum deposit amount is $250 when opening an account. They provide leverage up to 1:500, like many other unregulated brokers, despite the fact that most jurisdictions have limitations much lower than that.

ASKoBID conclusions

The goal of offshore brokers is to attract as many clients as they can. Furthermore, they don’t appear to care whether they lack the necessary permission. Regulators issue warnings to traders in their nations regarding these foreign brokers.

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American Style

3 Comments

Ivan December 21, 2020 at 3:17 pm

This company is a phage one. They will trick you to deposit the money, once you did , they will show you a phage platform ,and they will show you that you are making prophets, but it is not real. It happened to me . When you ask for the withdrawal they will postponed you and make you wait. They will ask your password and to trade inbehaf of you. Then they will lose all the money in one trading setting. This company is a scam one. You shouldn’t trust these people.

Robin February 21, 2021 at 4:17 pm

Bad experience. Don’t invest! Total scam!

Shellagg January 11, 2022 at 12:16 pm

I invested EU250 in Askobid. Afterwards I read reviews that suggested they weren’t a legitimate company. I asked for my money back and was told that was only a deposit and I would need to invest more to make a profit. I declined this and they sent me a form to apply for a refund but nothing happened despite me calling/emailing many times I just got through to an agent who said An account manager would ring me. They did but were rude and asked wbu I wanted a refund because I could make so much money by investing with them, he swore too.
17 months later I finally have the money back from my bank. Stay away at all costs!

ASKoBID is a Scam Broker – Read ASKoBID Reviews