Thinking of getting into business with Bidder Profits? Here is what you must know about this broker. Carefully read this review to find out if bidderprofits.com is the trading platform you will want to trade with.
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About Bidder Profits Broker
Bidder Profits is an offshore brokerage company with a lot of promises for traders. The broker’s office shows — W1 Carnaby Street, London, United Kingdom.
There are different account types Bidder Profits offers. See below.
In spite the trading instruments Bidder Profits claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
bidderprofits.com: Reasons to Avoid This Broker
Firstly, bidderprofits.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because Financial Conduct Authority, UK does not recognize this broker and its financial activity.
Secondly, we noticed bidderprofits.com has no demo account for traders. Since traders can’t test Bidder Profits on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk.
These are cons for forex traders to avoid losing money with a scam broker.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal and fee, Bidder Profits is not specific about the charges on any withdrawal. The following information says likewise.
Minimum Deposit
Bidder Profits minimum deposit is said to be $500 from the account type.
As for the payment methods, bidderprofits.com accepts Bitcoins and Ethereum. However, you should not consider making any payment with this broker because it is a risk and exposed scam. So beware!
Bidder Profits Platform
Bidder Profits offers web based trading software and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.
As for the leverage, the broker does not specify what its leverages are for forex traders. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Bidder Profits Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated financial activites are truly a red flag and must be avoided.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
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Conclusion: Is bidderprofits.com a Reliable Broker?
bidderprofits.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
More so, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review forex brokers and also share reasons, we will not recommend this broker for trading. Paragraph
Kindly share your comment about this broker in the comment section.
