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AskOBid Review

If you are looking for a quality European forex dealer, you may be delighted by what AskOBid has to offer. The variety of tradable instruments is substantial, and includes several rare exotics as well as XAU and XAG (Gold and Silver). You can see the full list of tradable instruments below. With account sizes starting at $100, fixed spreads, and decent order execution even at times of low market liquidity and strong (but not stifling) regulation, it's easy to see why AskOBid is becoming the dealer of choice for many smaller investors.

AskObid also offers above average payment processing, with a staggering number of convenient withdrawal and deposit methods that (unfortunately) do not include PayPal or Moneybookers. Customer support is helpful with technical issues (which do arise with the Tradorz platform), and order execution is very good considering the fact that AskOBid presents clients with fixed spreads. The fixed spread does cause some execution problems during illiquid market conditions, but this is to be expected, and the problems are quite minor compared to most other fixed spread dealers who more or less lock you out completely during news/volatility/illiquidity.

The AskOBid browser platform is developed by Tradorz, and is a decent (though not impressive) offering. This is the platform to use if you happen to be on a PC without MT4 installed, or on a Mac. Otherwise, we would highly recommend the MT4 platform, as it is significantly more endowed with features and stability, including the ability to program your own auto-trading systems. Scalping policy is also much more lenient on MT4, where all trading styles are encouraged, while the Tradorz platform locks you out from closing trades within 2 minutes of opening.

AskOBid also offers a very generous bonus on new account deposits. Some terms and conditions apply in order to ensure the bonuses are not abused. Here are the details:

  1. Silver Accounts (up to $1,000): Bonus is equal to 10% of your deposit. Volume equal to 1000 times the deposit amount must be traded before bonus can be cashed out.
  2. Gold Accounts (up to $10,000): Bonus is equal to 15% of your deposit. Volume equal to 1500 times the deposit amount must be traded before bonus can be cashed out.
  3. Platinum Accounts ($10,000+): Bonus is equal to 30% of your deposit. Volume equal to 3000 times the deposit amount must be traded before bonus can be cashed out.

Please note that AskOBid no longer accepts American traders.

 

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Subjective Ratings

Charting: Four and Half star Charting Rating
Execution: Five star Execution Rating
User-friendliness: Four and Half star User-friendliness Rating
Customer support: Four star Customer Support Rating
Transaction costs (spreads): Four star Transaction Costs (spreads) Rating
Rollover interest rates: Four star Rollover interest rates Rating
Withdrawal processing: Four star Withdrawal processing Rating
Platform Functionality: Four star Platform Functionality Rating
Platform Reliability: Five star Platform Reliability Rating
Average rating: Four and Half star Average Rating

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Business Details

Broker Headquarters: Limassol, Cyprus
Regulated By: CySEC
Client Account Segregation: Yes - funds held at Marfin Popular Bank, Cyprus
Collect Taxes on Earnings: No
Accept US traders?:
Main liquidity providers: Unknown
Broker Capital as of 08-2010 Unknown
Registered Business Name: O.C.M. Online Capital Markets Ltd.
In business since year: 2010
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
4B Debit
AMEX
Carta Si
Carte Bleue
Dankort Debit
Delta Debit
Diners Club
EC
eNETS
ePay.bg
EPS
Euro6000 Debit
giropay
iDEAL
JCB
Laser Debit
MasterCard/Maestro
Moneybookers
Netelis Asia
Nordea
POLi
Postepay
Przelewy24
Sofort
Solo Debit
UnionPay
Visa
Visa Electron
Westpac (WBK)
Wire Transfer

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Trading Conditions

Browser platform: AskOBid Trader (Tradorz)
Downloadable platform: AskOBid Metatrader 4 (MT4)
Mobile platform: AskOBid Trader (Tradorz)
Phone dealing: Yes
No Dealing Desk Execution: Depending on risk profile
Fixed spreads: Yes
Guaranteed stop losses? Yes, stop loss orders are guaranteed against slippage.
Hedging capability: Yes
Trading Hours: Sunday 21:00 PM GMT to Friday 21:00 PM GMT
Timezone GMT
Scalping allowed: Yes on MT4, but not on AskOBid platform (2 min. required between open & close)
Account currencies available: USD
Platform languages: Arabic, Bulgarian, Czech, Dutch, English, Estonian, Farsi, French, German, Greek, Hebrew, Hungarian, Indonesian, Italian, Japanese, Korean, Lithuanian, Polish, Portuguese, Russian, Serbian, Simplified Chinese, Spanish, Traditional Chinese, Turkish
Support languages: English, French, German, Portuguese, Spanish, Turkish
Demo account: 21 days
Live chat support: Yes - polite but not particularly knowledgeable
Promotions & tournaments: 10% deposit bonus on Silver Accounts, 15% on Gold, 30% on Platinum!
Swap-free accounts  No swap-free accounts available
Typical spread on EUR/USD: 3 pips (0.0003) FIXED (depending on account type)
Order processing: Market Maker
OCO orders available: No
Trailing Stops: Client-side
If/then orders available: No
Account Types
Account Maximum
Leverage
Minimum/Maximum
deposit:
Minimum/Maximum
trade size:
Notes
Platinum Account 200:1* $10,001/unlimited 100,000/30,000,000 units
Silver Account 200:1* $100/$1,000 5,000/500,000 units
Gold Account 200:1* $1,001/$10,000 25,000/5,000,000 untis
Tradeable Instruments: 48   
Automated Trading: Yes, on MT4
Depth of market view (Liquidity): No depth of market view available
Interest on Margin: No
Pending Orders Away from Market:

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* The high degree of leverage available in foreign exchange trading can work against you as well as for you. Investors should ensure they are fully aware of the benefits and risks before putting any money on the line.

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