BidAsks Broker Review

BidAsks Review 2

Latest All(2) Exposure(2)

Exposure

BidAsks FLOOR DISCOVER!

This floor has an Office located on the 9th floor, 28 Truong Son Street, Ward 2, Tan Binh District, Ho Chi Minh City under the name VANESSA MARKETING CO., LTD. This is the address that was very difficult to find. Because IB and KT didn't tell me from the beginning. Therefore, I confirm that this floor operates very shady, lacks transparency with the manifestation of fraud. This exchange operates by offering dividend deals. I opened a account and traded here. I've had my account burned, but I don't blame it because it's a tuition fee. And also for listening to the technicians. I reopened another account and traded. This time I loaded 7.1k usd and traded by myself. As a result, my profit increased to 12k. I have made 2 withdrawals. 1st withdrawal 700usd (money back 1 day). 2nd withdrawal 6.4k (lost 10days). Then continue to trade and now profit is close to 20k. During this process, my account was disabled (for some reason) i.e. I couldn't buy - sell, take profit or stop loss. This is fortunate that my account was not burned. Disabled for 5 days, but IB and KT don't have any support. And when he threatened (at 15:00) that he would come to the company to solve it, (until 19:00) the examination returned to normal. I think they intentionally disabled my account to burn the rest of my words because I had 7 orders with status at that time. Currently, the profit is nearly 20k USD, they do not allow withdrawal for the reason of not having enough ESCROW. And it forced to trade ESCROW 20%/total assets for 15 CONTINUOUS SESSIONS.

+1

forexpeace

2021-09-14

Exposure

BidAsks embezzled investors' assets

I've emailed them several times about my frozen account while no answer yet.

FX2095854887

2021-06-16

BidAsks 2025 Review: Everything You Need to Know

　　Summary: The BidAsks broker has garnered significant scrutiny due to its lack of regulation and numerous user complaints, indicating a potentially risky trading environment. Key findings suggest that while the trading platform offers some advanced tools, its overall trustworthiness remains questionable.

　　Note: It is important to be aware of the different entities operating under the BidAsks name across various regions, which could impact user experiences and regulatory oversight.

Rating Overview

Category	Rating (out of 10)
Account Conditions	3
Tools and Resources	5
Customer Service and Support	2
Trading Experience	4
Trustworthiness	2
User Experience	3

　　We score brokers based on user feedback, expert analysis, and regulatory status.

Broker Overview

　　Founded in 2019, BidAsks operates under the name BidAsks Ltd, and is registered in the Marshall Islands. The broker claims to provide a range of trading services, primarily focusing on cryptocurrencies and CFDs. It offers a trading platform based on cTrader, which is known for its user-friendly interface and advanced analytical tools. However, it lacks the more widely recognized MetaTrader 4 and MetaTrader 5 platforms that many traders prefer. Notably, BidAsks does not appear to be regulated by any major financial authority, raising concerns about the safety of client funds.

Detailed Analysis

　　Regulatory Status: BidAsks operates without any regulatory oversight, which is a significant red flag. According to various sources, including WikiFX, the broker does not hold a valid license, making it susceptible to fraudulent activities. The absence of regulation means that users have little to no recourse if issues arise.

　　Deposit and Withdrawal Methods: BidAsks only accepts cryptocurrency transactions, which can complicate the process of withdrawing funds. Many user reviews indicate that once deposits are made, clients face significant challenges when attempting to withdraw their funds. For instance, users have reported being asked for additional deposits or facing unexplained withdrawal delays, as highlighted in reviews from Trust Breaking.

　　Minimum Deposit and Bonuses: The broker does not specify a minimum deposit requirement, which can be a tactic to attract more users. However, this lack of transparency is concerning. Additionally, while BidAsks advertises bonuses, the terms are often vague, leading to confusion and potential dissatisfaction among traders.

　　Trading Conditions: The trading conditions at BidAsks are not particularly favorable. The broker offers leverage of up to 1:500, which can amplify both gains and losses. However, this high leverage is often associated with unregulated brokers, making it a risky proposition for traders. Furthermore, the absence of clear information regarding spreads and commissions adds to the uncertainty.

　　Customer Support: Customer service is another area where BidAsks falls short. Reviews indicate that users experience difficulty in reaching support representatives, and when they do, the responses are often inadequate. This lack of effective communication can lead to frustration, especially when clients are trying to resolve urgent issues.

　　User Experience: The overall user experience with BidAsks appears to be mixed at best. While the cTrader platform is user-friendly, the underlying issues of trust and support can overshadow the trading experience. Many users express dissatisfaction with the operational transparency of the broker, leading to a general sense of unease.

Repeated Rating Overview

Category	Rating (out of 10)
Account Conditions	3
Tools and Resources	5
Customer Service and Support	2
Trading Experience	4
Trustworthiness	2
User Experience	3

Detailed Breakdown

　　Account Conditions: The lack of a minimum deposit requirement is overshadowed by the absence of regulatory oversight, leading to a low score. Users have reported being lured in by attractive conditions, only to face issues later.
　　Tools and Resources: While BidAsks provides access to the cTrader platform, which is generally well-received, the absence of industry-standard platforms like MT4 and MT5 is a significant drawback.
　　Customer Service and Support: The customer support system is inadequate, with many users reporting long response times and unhelpful answers. This is a critical area for improvement, as effective communication is essential in the trading environment.
　　Trading Experience: The trading experience is marred by the broker's unregulated status and the challenges associated with cryptocurrency transactions. Users often find themselves in a precarious position when attempting to withdraw funds.
　　Trustworthiness: The lack of regulation and the numerous negative reviews create a concerning picture regarding the trustworthiness of BidAsks. Traders are advised to exercise caution.
　　User Experience: Overall user experience is negatively impacted by the brokers operational transparency and customer service issues. Many users express dissatisfaction, leading to a low rating in this category.

　　In conclusion, the BidAsks review indicates that potential traders should approach this broker with caution. The combination of unregulated status, poor customer service, and user complaints suggests that it may not be the most reliable choice for trading. Always consider regulated alternatives to ensure the safety of your funds and a more positive trading experience.