ASKOBID is yet another offshore brokerage service provider based on the islands of Saint Vincent and the Grenadines. It facilitates trading on a total of four different trading accounts. It offers higher variable and fixed leverages on all of these trading accounts. It also claims to provide floating and fixed spreads but its values are not shown on the official website. Nevertheless, the broker ASKOBID is not regulated and operates from the shady territory. In this ASKOBID review, we make sure to provide you with all the needed information before start trading with it. Please don’t miss this valuable ASKOBID review.
The forex broker ASKOBID has the head office in the offshore territory of Saint Vincent and the Grenadines. The offered various trading accounts are Basic, Professional, Gold and VIP. The initial amount to be deposited to start trading on these accounts are EUR 5000, 25000, 75000, and Custom. Custom minimum deposit means we don’t know what is the baseline amount of it. It must be higher than the above-mentioned values. All of four, the first two accounts have floating leverages of 1:500 and next two has fixed 1:500 leverage levels. It provides a single web trader trading platform. On this trading platform, we saw spreads floating from 1.7 to 3 pips. It also provides services of Market Maker. In this Market Maker service, it provides Account Management by Limited to Specialised managers. It also claims to offer trading benefits of up to 150%. Unfortunately, the promises of ASKOBID looks lucrative it’s an unregulated broker. It also has received scam warning against it by the United Kingdom-based financial regulator Financial Conduct Authority. Also, the above-mentioned initial deposits are more than 10 times higher than average initial deposits accepted by brokers. Also, leverages of 1:500 is far above that can be accepted as traders. Generally, 1:100 level leverages are suitable for most of the traders. The spreads provided are also high that leads to a higher trading cost at ASKOBID. The broker fails to provide trading on the MetaTrader trading platform. It is evident that the MT is the most loved trading platform available. It will bring ASKOBID on backfoot. The trading benefits of 150% comes with a prerequisite requirement of higher trading volume trade.
Is ASKOBID scam or legit?
To start with the trading conditions of ASKOBID, they are very high. The initial investments required are not acceptable and the broker is unregulated. MetaTrader is not supported and the broker operates from the overseas territory. All this makes ASKOBID a potential scam broker 2020.