Bitcoin Forum

they accept Bitcoin?? fxtrade.com

Do you accept paypal to deposit funds?


BR
Train

This is a brand new exchange for bitcoin? Or interfaces with Mt Gox?

I'm also very interested on how this works.

Do you provide your own BTC<->USD market? Or do you get market rates from mtgox?

Are you guys a regulated forex brokerage firm or is this a mom & pop type of roll your own brokerage broker type of operation?

Btw Forex in Australia is regulated by the Australian Securities and Investment Commission (ASIC).

No Linux clients?

Cheers,

Well then care to tell us under what jurisdiction the company is registered, and if you are at all regulated in the country of registration? Nope bitcoin is not "mom and pop" because bitcoin is not a business.

Also what type of dealing scenario do you use? STP? Dealing Desk?

From the looks of your domain the website/business is most likely registered in Colombia.


Domain Name:                                 FNIB.CO
Domain ID:                                   D3681883-CO
Sponsoring Registrar:                        TUCOWS, INC.
Sponsoring Registrar IANA ID:                69
Registrar URL (registration services):       www.opensrs.com
Domain Status:                               ok
Registrant ID:                               TUPOTQAGPVJ4MWXE
Registrant Name:                             CCEO Capital Management
Registrant Address1:                         24 B Moorefield Rd
Registrant City:                             Wellington
Registrant Postal Code:                      6037
Registrant Country:                          New Zealand
Registrant Country Code:                     NZ
Registrant Phone Number:                     +64.48892808
Registrant Email:                            
Administrative Contact ID:                   TUZC5IJZB1PKABXC
Administrative Contact Name:                 CCEO Capital Management
Administrative Contact Address1:             24 B Moorefield Rd
Administrative Contact City:                 Wellington
Administrative Contact Postal Code:          6037
Administrative Contact Country:              New Zealand
Administrative Contact Country Code:         NZ
Administrative Contact Phone Number:         +64.48892808
Administrative Contact Email:                
Billing Contact ID:                          TUPPJL5GEIXM9HEE
Billing Contact Name:                        CCEO Capital Management
Billing Contact Address1:                    24 B Moorefield Rd
Billing Contact City:                        Wellington
Billing Contact Postal Code:                 6037
Billing Contact Country:                     New Zealand
Billing Contact Country Code:                NZ
Billing Contact Phone Number:                +64.48892808
Billing Contact Email:                      
Technical Contact ID:                        TUZ73Y2YRLOEAGCH
Technical Contact Name:                      CCEO Capital Management
Technical Contact Address1:                  24 B Moorefield Rd
Technical Contact City:                      Wellington
Technical Contact Postal Code:               6037
Technical Contact Country:                   New Zealand
Technical Contact Country Code:              NZ
Technical Contact Phone Number:              +64.48892808
Technical Contact Email:                    
Name Server:                                 NS1.INSTRADNS.COM
Name Server:                                 NS2.INSTRADNS.COM
Name Server:                                 NS3.INSTRADNS.COM
Created by Registrar:                        TUCOWS, INC.
Last Updated by Registrar:                   TUCOWS, INC.
Domain Registration Date:                    Sun Jan 09 20:40:10 GMT 2011
Domain Expiration Date:                      Fri Jan 08 23:59:59 GMT 2016
Domain Last Updated Date:                    Wed Mar 02 20:53:09 GMT 2011

You site says some country restrictions may apply for new accounts. What countries do you not allow accounts from? If my recent experience is any indication South Korea is on your list :(

Well, fnib.co (http://fnib.co/) redirects to firstnationalib.com (http://firstnationalib.com/) that is registered with these data:


Cheers,

Congrats!  I was wondering when this would be available..  Been wanting to dabble in Forex for a while..

However, I'd rather my BTC deposit stay as BTC until the moment I decide to open a position, otherwise I risk losing the BTC upside in the meantime.

What's the margin?  Couldn't find it on the site..

Woow this is pretty awesome.  :)

So,  BTC in and out?  So if I put 1000BTC in last week ($8/BTC) I would get 8000FX,  Trade that for a week and get 20% increase then transfer 9600FX back to BTC ($14/BTC) = 685 BTC.   I think I'll keep my BTC thank you.

not for long buddy.

Very cool that you are accepting bitcoins. But your site seems to be a bit too vague on important details like what your spreads are.

I will stick with Oanda for my forex needs. Sure, they don't accept bitcoin, but at least they publish live spreads http://fxtrade.oanda.com/why/spreads/recent as well as all sorts of other interesting data.

If anyone around here uses them I would be interested in hearing how it goes.

Fascinating....FNIB is developing a competitor for Bitcoin, and hiring coders to do it, preferably in PERL.... https://www.odesk.com/jobs/Cyber-Currency-Developer_~~0c9020b9d4c4e663

I'd be interested if I thought any other currency had a fighting chance against bitcoin, which they don't.

So, you might as well say - 'trade for colored buttons' because that is what they'll end up being after a while. Sorry, centrally-planned currencies just got their wake-up call, whether they last or not isn't really up for debate.

This is the game-changer. I'd be more interested if you were actually setting up a bitcoin market, but it looks like you're just integrating bitcoin in a bid to get some trading volume and make money off of the bid-offer spread like every other forex broker.

Nice try, I'll stick with bitcoins.

Wow really. I guess it was only a matter of time before someone thought "me too" .

Will you trade coding for BTC?

Why only PHP ?

If you're building apps from scratch there are much better alternatives.

Ok.  ::)

So how does living in South Korea affect my eligibility to trade and margin requirements?

How about consultancy?

E.g. if I will explain private keys in a PM,

would you send 5.56 BTC to this address?


(probably better if you go http://en.wikipedia.org/wiki/Public-key_cryptography (http://en.wikipedia.org/wiki/Public-key_cryptography) for your financial health though.)

Hello FNIB-

Thanks for taking this first step.

What I would like to see is you folks be a market-maker in BTC against the other currencies, and allow us to hold balances in bitcoins, just as I can be long any other currency. If you did that, I _will_ open an account with you! I hope you would see the opportunity in doing so; the fees Mt. Gox charges far exceed anything FX traders normally pay (65 pips vs 2-3 pips?), so there's a lot of room for this to be a high-margin business for you. Any chance of that happening? Pretty please?

Merely allowing one to transfer in bitcoins, which are then immediately converted to some other currency and held in that form, is nice. But it's merely a small convenience, from my POV. I hope this is just your first step of many...

i second this!   would love to see BTC against other currencies in mt4 with me template etc !

also for hedging and speculation purposes it could be awesome ! 

Guys trust me you do not want to trade traditional currency pairs with a market maker broker let alone BTC. A market maker loses when you win and wins when you lose, so they have an economic incentive to rig the game against you sorta speak if you are too successful. 90% + of forex traders lose so the majority of the time a market maker gets by just letting the trader do his thing and take the other side of the trade. However if you're successful you will quickly find out how a market maker operates and how quickly you will be given excuses as to why you must stop trading with them.

Plain and simple if you want to trade forex do it with a STP broker or a ECN broker. If you want to trade BTC against other currencies then wait until some ECN type platform comes on the scene where the platform operator is compensates via a commission per trade. This way there is no conflict of interest involved.

allinvain- Thanks for that. I don't doubt anything you said. Your understanding is more sophisticated than mine. I'm not now, nor do I ever intend to be, an active trader. To me it looks like a zero sum game with a slight negative bias due to transaction costs. I just want a "legit" financial institution to come in and make buying and selling bitcoins more like dealing with any other financial asset. Of course it's a tiny thinly traded market right now, but if it is ever going to get to the kind of market Citadel and PIMCO can trade in, it's going to need some kind of exchange that doesn't require you to transfer money through Dwolla, or mail checks to a PO box. If FNIB does it first then I'm their new biggest fan, and New Zealand is my favorite country. I hope a huge first mover advantage accrues to them and they make a ton of money doing it.

It is very much a zero sum game.

I agree a more liquid and faster loading exchange is a good idea, but you gotta keep in mind that even with a traditional brokerage firm you still have to deal with banks and other financial institutions as the intermediary. Transferring money still takes time unfortunately unless you can become a part of the ACH (automated clearing house) system the banks use.

AFAIK with this FNIB company you aren't actually tarding with BTC just that they're going to credit your account with the dollar equivalent of whatever BTC you deposited. This works like wonder for them because you gave them a currency that will likely increase in value yet your account has been credit with a rapidly depreciating currency - USD. This is a clever way for the brokerage firms to make additional profit and tap the potential explosive growth of the bitcoin system. I'm surprised I don't see many more forex brokerage firms taking on bitcoin. Since we have a very liquid exchange (mt gox) I don't see any risk on their part if they did - well there would be risk but its very small IMHO.

This site has gone away, apparently.

no great loss.

who would trust any money to an entity on the internet who won't even give a straight answer to the question: "what country are you registered in?"  not i.  and re-reading the thread, i still don't know for sure.

waste of electrons...