ONEBID (1BID) Forex Broker Review – No phone support available

Read our comprehensive review of ONEBID also known as 1BID Forex and CFDs broker that offers traders several trading account types. The broker does not disclose its origins and does not have phone support raising some questions about its legitimacy. We will assess the broker’s safety, assets, accounts, and other important features.

ONEBID (1BID) background — A brief overview

1BID Forex broker is a regulated entity. It is overseen offshore by the Financial Service Authority (FSA) of the Saint Vincent and Grenadines (SVGFSA). Despite this regulation, the broker still is capable of offering a high leverage of 1:100 as the SVGFSA regulator is not very strict and still leaves plenty of room for scams and frauds. Therefore, while better than being unregulated, only one offshore license does not make 1BID legitimate.

ONEBID (1BID) Review of Accounts

1BID broker offers a wide selection of trading account types. There are four different accounts including Nano, Standard, ECN, and Pro accounts. With these many options traders might get confused about which one to select and the differences are not that much between different accounts making it more like a marketing gimmick than a real useful feature. For example, there is not much difference between the Nano and Standard accounts and it would be the same if the broker just offered one standard account type. The same is true for ECN and Pro accounts. The ECN account charges commissions and still has spreads from 0.1 pips which is the same for the pro account, except traders have to deposit a minimum of 10k to start trading which does not make sense.

ONEBID (1BID) Nano Account

1BID Nano is an equivalent of cent accounts allowing much lower lot sizes from 0.01 lots. However, it is limited when it comes to trading assets as traders can only speculate on currencies and metals. The minimum deposit starts from 0 USD and the leverage is highest at 1:1000. With the Nano accounts being for beginners while simultaneously offering the highest leverage, it is very simple to blow up this account for beginners.

Here is the list of 1BID Nano account specs:

• Minimum deposit – 0 USD
• Typical spreads on EURUSD – From 0.7 pips
• Commissions – 0 USD
• Minimum lot size – From 0.001 lots
• Maximum leverage – 1:1000
• Trading Instruments – Currencies, Metals
• Trading platform – MetaTrader 5

ONEBID (1BID) Standard Account

The conditions on the 1BID Standard account are almost the same as the Nano account:

• Minimum deposit – 0 USD
• Typical spreads on EURUSD – From From 0.7 pips
• Commissions – 0 USD
• Minimum lot size – From 0.01 lots
• Maximum leverage – 1:500
• Trading Instruments – Currencies, Metals, Energy, Indices, Shares, Cryptocurrencies
• Trading platform – MetaTrader 5

With these specs, the standard account is for general FX trading and has decent specs.

ONEBID (1BID) ECN Account

1BID ECN account is more focused on scalping but has a high initial deposit requirement:

• Minimum deposit – 100 USD
• Typical spreads on EURUSD – From
• Commissions – from 0.002 %
• Minimum lot size – From 0.01 lots
• Maximum leverage – 1:500
• Trading Instruments – Currencies, Metals, Energy, Indices, Shares, Cryptocurrencies
• Trading platform – MetaTrader 5

Despite offering low spreads, this account still charges 0.1 pips spreads and there is a commission of 0.002%, meaning traders have to pay 2 USD per lot per side.

ONEBID (1BID) Pro Account

The pro account is the most expensive trading account type with the following conditions:

• Minimum deposit – 10,000 USD
• Typical spreads on EURUSD – From
• Commissions – from 0.002 %
• Minimum lot size – From 0.01 lots
• Maximum leverage – 1:500
• Trading Instruments – Currencies, Metals, Energy, Indices, Shares, Cryptocurrencies
• Trading platform – MetaTrader 5

ONEBID (1BID) Deposit and Withdrawal

Deposits and withdrawals are possible using several different payment options including cryptocurrencies such as Bitcoin, USDT, Ethereum, and Tron. There are other payment methods accepted as well including Help2Pay, Perfect Money, Visa, and MasterCard. It will cost 1.5% commission to use bank cards as deposit and withdrawal methods. As for the withdrawals, there are also no fees, only 1.5% on bank cards, but the processing times are lengthy, sometimes more than 2 business days. Lengthy withdrawal processing is usually characteristic of scam brokers which is a red flag.

ONEBID (1BID) Reviews of Trading Platforms

The broker provides access to the advanced trading platform MetaTrader 5 (MT5) which allows many advanced capabilities. MT5 supports EAs or Expert Advisors and custom indicators. However, it is the latest trading platform and still has a smaller community when compared to MT4. 1BID MT5 is available for all devices including desktops and smartphones. Both Android and iOS are supported as well as Windows and macOS. There is also a web trader variant requiring no installation.

ONEBID (1BID) Forex Review of Extra Features

1BID does offer two bonuses but no promotions. These bonuses are welcome bonuses and deposit bonuses. To sign u[p for these bonuses, traders have to go through a rigorous signing-up process which is not worth the hurdle. The welcome bonus also requires traders to deposit at least 10 USD on Nano accounts. There are few tools such as the economic calendar to monitor fundamental market news and trading signals. These signals can be used directly where traders can choose signal providers and copy their trading performance. While useful there are risks associated with copy trading like this and traders can lose money.

ONEBID (1BID) Review of Education and Tools

The broker offers very few educational materials such as trading blogs. There are various posts on this blog sorted for each trading asset, 1BID offers for trading. However, these posts are just about market insights, meaning older posts are not useful anymore and there are no articles or posts about actual trading education which is a drawback. Only the latest of these posts can be used and there is no guarantee that these analyses are accurate.

ONEBID (1BID) Reviews of Customer Support

The customer support by 1BID consists of traditional channels such as live chat and email. Both the website and support are offered in more than 5 languages which is good. However, the broker lacks a hotline support option which is a huge red flag. All reliable brokers freely disclose their phone numbers and 1BID not showing its number can not be overlooked.

ONEBID (1BID) Review Conclusion

In the end, 1BID Forex and CFDs broker presents a mixed bag for traders. While the broker offers a range of account types and high leverage, its offshore regulations by the SVGFSA raise questions about its overall legitimacy and safety. The variety of trading accounts seems more like a marketing trick rather than a benefit for traders. The lack of a phone support option and lengthy withdrawal processing times further add to the red flags.