BidAskBit Review

About BidAskBit

BidAskBit offers cryptocurrency-only trading services via its proprietary platform dXmercato, available in web and Android versions. The broker supports deposits and withdrawals exclusively in cryptocurrencies (Bitcoin, Bitcoin Cash, Ripple, Ethereum, Litecoin, Dogecoin, among others) through its partner exchange Virarosi, with withdrawal processing times stated as typically within one hour, but occasionally up to 48 hours or longer. The platform provides up to 500:1 leverage and allows users to open multiple trading accounts with profit and loss denominated in available cryptocurrencies. Security features include AES‑256 encryption, offline storage for client funds, and real‑time monitoring systems.

BidAskBit is unregulated by any recognized financial authority (such as FCA, ASIC, CySEC, BaFin, NFA/CFTC). The broker claims to be operated by “ACE HOLDINGS LIMITED” with authorization number 13403160 but does not provide details about the licensing authority or jurisdiction. No regulatory records were found in official registers, exposing that client funds are not protected under any regulatory framework. External reviews describe the firm as anonymous, offshore, and risky, with no transparency or segregation of client funds.

Pros and cons

Pros

• High maximum leverage up to 500:1 via cryptocurrency trading accounts.
• Platform accessible through web and mobile (dXmercato), supporting multiple crypto assets.
• Security claims include bank‑grade AES‑256 encryption and offline storage of funds.

Cons

• No regulation or licensing by any reputable financial authority; authorization claims are unverifiable.
• Client funds are not protected by compensation schemes, segregation, or oversight.
• Anonymity of ownership, lack of jurisdictional clarity, and offshore operations raise risk concerns.
• No fiat support for deposits or withdrawals; only crypto accepted, which may hinder investor protection or recourse.