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:
- 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.
- 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.
- 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.
Subjective Ratings
Charting: | ![]() |
![]() This is our subjective view on how good the package is in this broker platform. For brokers offering multiple trading platforms, we rate the best one. |
Execution: | ![]() |
![]() From our experience trading a real account, this is how we rate this broker's order execution. Brokers with guaranteed fills get a boost in rating. |
User-friendliness: | ![]() |
![]() How user-friendly is the trading platform? For brokers offering multiple trading platforms, we rate best one. |
Customer support: | ![]() |
![]() How good a company's client support manage questions and problems is a very important aspect of their overall performance as a business. For this rating we consider the hours of operation, the different modes of contact (such as call back service, live chat, toll-free numbers etc.) as well as the staff's patience, eagerness to help, and most importantly, knowledge. |
Transaction costs (spreads): | ![]() |
![]() Since different brokers offer different currency pairs with different spreads, variable or fixed, commission or commission-free trading etc., the idea of judging transactions costs overall becomes somewhat subjective. This is where we try to capture the broker's overall willingness to keep your trading costs low. |
Rollover interest rates: | ![]() |
![]() Again, since each broker has their own way to calculate overnight interest rate, or swap for each currency, it is not feasible to have an objective, quantitative way to judge their swap rates. The issue is further complicated because some brokers decide to offer swap-free accounts, some with extra fees added, some not, some for Islamic traders only, and some for the general public. This rating attempts to roll all of that into one. |
Withdrawal processing: | ![]() |
![]() One of the often-overlooked aspects of a brokers business is how quickly, efficiently, and inexpensively they process your withdrawals. For this rating we take into account the time it took us to get our withdrawals processed, the fees that were charged for those withdrawals (if any), any problems we encountered during the process, as well as the number of withdrawal methods available (such as PayPal, Moneybookers, etc.) |
Platform Functionality: | ![]() |
![]() Different platforms have very different levels of complexity. In general, more complex trading platforms give the user more flexibility in their trading, but involve a longer learning curve for new users to get accustomed to their idiosyncrasies. This rating measures the ability of the trading platform to complete complex tasks, most importantly in order management and reporting. For brokers offering multiple platforms, we rate the best one. |
Platform Reliability: | ![]() |
![]() One of the most annoying (and costly) complaints traders have about their brokers is that the trading platform crashes at the most crucial times. This rating attempts to get a handle on how the trading platform performs in terms of stability and reliability. Is the platform always available? Does it crash or freeze? How often? For brokers offering multiple platforms, we rate the best one. |
Average rating: | ![]() |
![]() The arithmetic mean of all the above ratings, rounded to the nearest half-star. |

Business Details
Broker Headquarters: | Limassol, Cyprus | ![]() The geographical location of the broker's headquarters. |
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Regulated By: | CySEC | ![]() Which regulating body, if any, is responsible for regulating this broker? |
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Client Account Segregation: | Yes - funds held at Marfin Popular Bank, Cyprus | ![]() Some brokers choose on their own and others are required by regulators to keep client funds separate from the company's operating capital. This gives clients an extra layer of security in case the broker becomes insolvent and needs to go into bankruptcy. It should be noted that segregation does NOT constitute absolute safety of client funds in case of bankruptcy, but is a significant step nonetheless. |
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Collect Taxes on Earnings: | No | ![]() Does this broker report client earnings to any tax authorities? If so, which ones? |
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Accept US traders?: | ![]() |
![]() Some brokers, either due to government regulation, or due to their own risk management policies, choose to prohibit clients from the United States. |
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Main liquidity providers: | Unknown | ![]() Most brokers are somewhat secretive about this aspect of their business, but those who aren't certainly provide their clients with a valuable piece of information. The more liquidity that is available, the better order execution clients can expect. Knowing the institutions which provide this liquidity can also offer a glimpse into which currency pairs have sufficiently deep liquidity for your needs. |
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Broker Capital as of 08-2010 | Unknown | ![]() The amount of capital the company has on hand. CFTC registered companies are required to report this, but most other brokers do not. |
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Registered Business Name: | O.C.M. Online Capital Markets Ltd. | ![]() The name of the parent company of the broker, if any, or the business name under which the broker operates. |
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In business since year: | 2010 | ![]() When was the business established? This is a measure of trustworthiness. If a business has been around for a long time, it is less likely to scam you or disappear overnight. |
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Deposit/Withdrawal methods: | ![]() What methods are available to deposit and withdraw money to and from your trading account? |
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Trading Conditions

* 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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