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BidMarkets is already facing a warning from the Spanish regulator, CNMV. The reason for the warning is after the regulator found the platform wanting. Hundreds of investors have lodged complaints with Bid Markets. Most of the investors couldn’t withdraw funds from bidmarkets.com. And we had to investigate the platform and find out the red flags. Here’s our clear BIDMARKETS REVIEW.
On the homepage, users are called upon to invest in Bitcoin and CFDs with 0 percent commission. Bid Markets does its best to try and show a lucrative investment platform. First, however, we have to point out the issues we found on their platform.
What the platform has done first is to create an engaging website. All information regarding investing in Bitcoin and CFDs is available. It makes it look professional in the eyes of naïve investors. For us, we have to dig a little deeper.
BidMarkets is, without a doubt, a troublesome platform. Once you decide to engage with them, then there’s a chance you will likely lose more. And this is why you need to stay away from the platform.
You should invest in platforms that have a proven reputation and professional standards. Today’s investor wants a proven option for investing that guarantees real ROI. And this is why experts recommend Coin Staking, DeFi, and Masternoding.
Bid Markets, on the other hand, leave all the trading to members. There’s no software or educational materials to help naïve investors. Most of them hardly pass the first stage of trading. There’s more as even experts have a problem with the platform.
Your priority when looking for a viable investment platform is confirming its legitimacy. Next, you should engage with regulators and confirm whether the platform is compliant. You can also read our reviews on Crypto and forex products to learn more.
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Bid Markets does not offer actual investment accounts. You only get a single account for all activities. And this means the deposit amount will vary depending on the user. Most of the account features are missing from the platform.
You only get a promise of high leverage of 1:400. The leverage is way above the recommended industry leverage of 1:50. In the United States, leverage is set at 1:50 for retail traders. A platform offering high leverage is putting your funds at risk.
For instance, one member could deposit $5,000 and get the same leverage as one who deposits $100. You should get better account features due to the amount you invest in. Investors should also know the acceptable minimum deposit.
In nearly all jurisdictions, regulators set $250 as the acceptable minimum deposit. And this is the reason why you have to be extra careful with online investment platforms. Unfortunately, some try to take advantage and claim the more you deposit, the higher your chances of winning.
Bid Markets offers five classes of trading instruments. These include commodities, cryptocurrency, forex, indices, and stocks. You get to trade commodities such as energies and metals. The platform even allows members to trade on American and German bonds.
Members also get to trade CFDs on commodities and ETFs. There’s also an option of trading crypto with leading currency pairs such as EUR and USD. Available crypto includes Bitcoin, Ethereum, Litecoin, and Ripple.
You also get to trade CFDs on currency pairs since Forex plays an integral part in the platform. Members get to trade with leading currency pairs. The platform offers exotic, major, and minor pairs.
When it comes to trading indices, the platform has over five international markets. These include DAX, Dow Jones, NASDAQ, Nikkei, S&P 500, and more. It would be best if you took advantage of international markets but with a genuine trading platform.
Bidmarkets.com also offers users a chance to trade with leading stocks. You get to trade shares of leading company shares in the world. These include the FAANG group, which are the most sort after shares in the market.
Bid Markets is not a licensed or regulated platform and faces a warning from the Spanish regulator. The CNMV has listed the platform as a high-risk investment platform. And this means your funds are at risk.
One of the many reasons the regulator cites the platform as high-risk is insurance cover. Those who deposit funds with the platform don’t get to enjoy insurance cover. The platform might decide to shut down, and no member will get any compensation.
When searching for a viable investment platform, go for one regulated by reliable institutions. These regulators include ASIC, CNMV, CONSOB, CySEC, and the FCA. Other known regulators include BaFIN, FINMA, NFA, and the SEC.
All regulators work in uniform to ensure all parties adhere to strict guidelines. So, for example, no regulator would allow high leverage of 1:400. And this is another reason why the platform was listed as a high-risk investment entity.
There’s no information on the company listed as Bidmarkets Ltd. We couldn’t find where the entity is registered or who owns and runs the platform. And this makes Bid Markets an anonymous investment platform.
It would be best if you avoided anonymity when it comes to any form of investing. Instead, make sure you know who handles funds at all times. It helps to have accountability and transparency when it comes to trading.
Another essential aspect when looking for a genuine investment platform is the support structure. Make sure you find out what makes the platform better. Go for platforms that guarantee a quick response to queries.
With bidmarkets.com, you only get to find a platform that avails one way of communication. We firmly believe the platform is out for blood. The platform ensures the communication process is in their control.
The platform makes funding your account easy and fast. You get to fund your account using available options such as bank and wire transfer. Once you fund your account, the balance will reflect in your trading account within 24 hours.
We don’t recommend funding any account with the platform due to security reasons. The platform is on the warning list, and withdrawal is a problem. No member has been able to withdraw funds for the past few weeks.
And this is the very same reason that drove CNMV to issue a warning. If the platform blocks withdrawals, it ceases to become a trading platform. It seems the platform is also harvesting banking data from clients.
Your funds are far from safe with a platform that doesn’t segregate accounts. All deposits made by members are held in one single account. Based on the account number, we believe this is an offshore bank.
Segregation of accounts is a requirement that all trading platforms must follow. It helps protect members from insolvency and bankruptcy. Make sure you stay away from the platform or else risk becoming their next victim.
Members only get a web platform with no access to download. And this means there’s a likelihood the platform is unsecure. In addition, the platform fails to meet the standards and doesn’t provide any advanced tools.
We don’t recommend using or signing up with Bid markets. It’s a scary platform that already faces a warning from CNMV.
The best way to invest is by joining reliable investment options backed by experts. So make the right investment decision today.
Feel free to leave a comment or drop us an email.
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