Bidaskbit Review – Details About This Crypto Investment Scam

BidAskBit is just the brand name of this suspicious broker. They operate under Ace Holdings Limited which is still an active company based in the UK.

This makes our job way easier since every company that is trading in the UK on Forex or CFD markets needs to have a license. Otherwise, it wouldn’t be reliable and trusted. BidAskBit broker only offers cryptocurrency trading.

This broker is not a cryptocurrency exchange, therefore they are offering CFD trading. And crypto CFDs are prohibited in the UK since January 2021. With this in mind, let’s continue our BidAskBit review.

​​What’s more, we strongly recommend that you avoid the fraudulent brokers Esperio, Vital Markets, and Sky Gold Market.

Is BidAskBit A Fraudulent Cryptocurrency Broker?

This broker doesn’t provide any security to its clients. There is no license number, therefore any terms and conditions provided by a company are speculative. 

Since the broker doesn’t have an FCA license from the UK, we expect very shortly to see a warning against them from financial regulators. Invest in crypto through reliable exchanges, not these scamming brokers.

A broker that is anonymous without any integrity shouldn’t be trusted at all. BidAskBit operates from the UK without an FCA license, leverages are extremely high and they don’t provide ownership info.

Arguments For Trading With a Licensed Broker

Why we always mention regulated brokers is simply because of security. In case anything goes wrong, you still have someone to reach out to. Licensed brokers offer you some kind of stability and transparency in trading conditions.

We wanted to do our due diligence instead of you. Therefore, we checked the database of all Tier 1 regulators – FCA, BaFin, CONSOB and ASIC.

As you can guess, we couldn’t find any details about BidAskBt or Ace Holdings. We kindly recommend you stay away from these bogus scammers.

BidAskBit Software – How Safe Is The Platform?

BidAskBit made a huge step forward in this field. They are offering cTrader. After MT4/MT5, this is one of the most reliable trading software. It has a wide range of trading features, EA tools, social trading and many more. On top of that, it can be used on any device.

However, it can’t be compared with an industry-standard MT4/MT5 that is available on any device in any form. As that being said, we can say this is a good choice by BidAskBit. However, they are not regulated so whatever you make with them is still questionable.

BidAskBit Platform For Android

A huge advantage in trading is that you can open trades on the run. cTrader that BidAskBit is offering is available on both platforms, Android and iOS. However, this broker doesn’t have any license, therefore you shouldn’t trust any of your money with them.

What Financial Instruments Does BidAskBit Include?

The company only offers CFD cryptocurrency trading. Some of the assets available are:

• BTC
• BNB
• BCH
• XRP
• LTC

Cryptos are very volatile, therefore you should be extremely careful in trading those. With a bogus scam like this, it is even more dangerous. We have warned you on time.

BidAskBit’s Fraudulent Activities – What Are The Countries Involved?

According to BidAskBit reviews, we found that they are scamming traders from:

• Czechia
• South Africa
• UAE
• Slovakia
• Spain

If you are coming from any of these countries, think twice before investing any of your funds. Why they are targeting such countries is because of the regulations and security. None of these are eager to protect their citizens. Except for Spain maybe.

What Are The Different BidAskBit Account Types?

This is something different compared to other scamming companies. BidAskBit offers a demo trading account. Besides that, there is no specific classification between live trading accounts.

Whatever you deposit you get the same conditions. Which is fair, to be honest. It doesn’t make sense that if you deposit more money you get more benefits.

BidAskBit Deposit and Withdrawal Policies

The company only accepts crypto transactions. That is speculative since crypto transactions are very hard to trace. If you think about everything we said so far, you should understand why is that so.

From traders’ BidAskBit reviews we found that they had trouble with withdrawals. Most of the time, the company was asking people to put in more money or to pay certain fees to be able to get money out.

The ones that did transfer more money learned it the hard way. Because there is no logic to pay for transaction fees when you have a balance that you can use for that. When it comes to taxes, you can’t pay from the trading account, you can only pay through your bank account.

Understandably, that can only happen when you receive funds in your bank account. Therefore, there is no point in paying upfront taxes, especially the ones that are made up.

BidAskBit Terms and Conditions

Basic trading terms and conditions are a mystery with BidAskBit broker. They don’t mention it anywhere. So, you don’t know what you are dealing with. If anyone deposited money with these unreasonable conditions, we wish them the best of luck.

However, if you deposited and you were scammed there is a solution.

Scammed by a BidAskBit Broker? – We Want To Hear Your Story.

Let us hear your story because that is the only way to protect other people from being scammed. If we come together and report them to regulators, very shortly after that we will see warnings.

We believe that you are here to get your funds back! There is a chargeback solution.

What Is the Chargeback Procedure?

When clients are using cards, the situation is simple. Since this broker only accepts crypto payments, we have to trace those transactions. That can be done with the CipherTrace program, but only some experts have access to it.

You can trace the transaction that you have made and recover your funds. To get access to that and start your recovery program, contact our experts now!