Bitcoin Forum

Im starting this thread for discussions/questions/information related to FYB-SG. It will also serve as a secondary point of information in the event the exchange server goes down.

Reserved

Reserved 2

When can you add Maybank as deposit option? Lots of buyers from this side waiting to buy BTC.

I can't seem to find any pricing info on how much it will cost for Malaysians to send and convert to SGD and for me to receive the money.
Do you have a link?

try this http://www.maybank2u.com.my/mbb_info/m2u/public/personalDetail04.do?channelId=&cntTypeId=0&cntKey=ACC09.06&programId=ACC09-BankingFees&chCatId=/mbb/Personal/ACC-Accounts/

https://www.maybank2u.com.my/mbb/m2u/public/faqList.do?channelId=Personal&faqChPath=/mbb/FAQs/01-Personal%20Banking/FACC-Accounts&programId=OB-OnlineBanking&faqId=ACC04.01-ForeignTelegraphicTransfer&chCatId=/mbb/Personal&faqChId=FACC-Accounts

11. What is the fee for Foreign Fund Transfers?
There is a RM10 fee for transfers to all countries, including Singapore. The fee will be debited from your Maybank Savings/Current Account* and is not refundable.

12. Is there a fee for Foreign Telegraphic Transfer status enquiry?
Yes, there is an RM10 fee for status enquiries via Maybank Group Customer Care (after funds have been transferred from Maybank).

13. Does the recipient have to pay bank fees?
Apart from the RM10 cable charge debited to the sender, the foreign bank ie UOB or DBS / Maybank Group Overseas Unit may charge extra costs to the receiver. This is usually deducted from the total payable to the beneficiary.

14. What happens if the recipient declines to pay the foreign bank charges?
If the recipient does not agree to pay the bank fee, the amount will be charged to the sender. Or, if both parties decline to pay, the transaction will be returned.

15. How much are the foreign bank / Maybank Group Overseas Unit charges?
The amount varies from country to country.

How much is it for a regular wire transfer Maybank MY -> UOB SG? Did you ask them?

I guess we need to call UOB SG.

Congrats on starting the exchange. Sad to see the order book so thin though, thr bid/ask spread is just too far apart and way out of line from Gox prices.

I registered an account anyway. Got a stack of coins on Gox I may want to exchange for fiat one day and your exchange would be great for that purpose when your userbase grows (the fact this hasn't happened yet surprises me, isn't our country supposed to be one of the most tech savvy in the world? Or is everyone here content with just spewing cyber-BS on places like HWZ and SGForums)

Keep up the good work

Thanks Nagato for setting up the exchange, it help to provide greater convenience for us to trade bitcoin. It is quite hassle and time consuming for some of us to transfer money and out mtgox and btc-e. 

Yes, only two sell orders that is not enough to fulfill my pending order today. Looks like I have to wait.

Actually, only the ask side is thin. If you look at the bids, they are constantly building up.

Everytime i see someone sell, all the coins are snapped up within minutes and some people drive it up to 5%-10% above Gox price.
It just reflects the lack of Bitcoins, mining, bitcoin economy in Singapore. The userbase is growing, but they are all almost all buyers, very few have coins to sell.

Exactly, I had to buy at SGD 475 just now, to fulfil my order.

Could we get a confirmation email, once all my open orders are filled?

Yea, good idea. Or free sms confirmation? lol.

It's on my TODO list, but recent surge in signups has increased the number of queries, deposit/withdrawal workload to the point that i have very little time to code.

Most Singaporeans are clueless about economics and the value of Bitcoin. Besides they have a "foolproof/safe" money making investment in property when the central bank/government are doing all they can to prop up the property bubble via money printing/immigration policies. Dow Jones has the Bernanke Put, our property market has the MAS/PAP Put.

+11

A self moderated topic isn't the best thing.

Hi. Would like to know, will there be support for automated trading? Also, is there any place to view the historic trade data? Thanks.

I don't intend to implement a trading API until volumes pick up.

You can view historic trade data on http://bitcoincharts.com/markets/fybsgSGD_trades.html , but there is a bug where occasionally some trades don't get listed or some get listed twice because of the way Bitcoincharts updates this info and FYB-SG trade ids are not always chronologically consecutive. If you need access to the correct trade history, send me an email or PM.

I have tried a couple of trade and so far it looks good. I like the clean style for this exchange. One thing, I still want to change my password even with 2FA. :)

You can change password using the Forgot Password link. It will function regardless of having 2FA enabled/disabled.

@Nagato, how many hours from bank deposit will it appear on the account? Also, how many hours after bitcoin withdrawal? The site said withdrawal is manual.

Once i receive your deposit, i usually credit within 24 hrs.

For Bitcoins, the withdrawal is instant if the server wallet has sufficient coins on hand.

What is the minimum deposit in SGD? Thanks.

There is no minimum deposit atm.

the sad truth isnt it.

Unfortunately, this is the case there.  :-\

Meanwhile, the property prices continues to rise...

Is it possible to remove all the orders that do not have funds to cover them? The same issue existed on mtgox, it gives a false impression of market depth.

Also, any chance of adding a citibank bank account? Transfers would be instant and free.

and how about adding a Maybank Singapore option too ?

Invalid Orders are pruned daily by the system so the order book is pretty accurate most of the time.

Current volumes don't even justify the costs of running the exchange, let alone supporting more bank accounts.
You may want to consider using the Cash deposit method if you want same day deposits.

Nagato,

Regarding the new verification policies, was wondering what specific regulations are you being required to comply with? Have you been in contact with MAS regarding the status of Bitcoin? And if so could you describe their stance towards it?

Would like to understand the regulatory climate better, thank you.

eyci

You can read about it http://www.mas.gov.sg/regulations-and-financial-stability/regulations-guidance-and-licensing/payment-and-settlement-systems/payment-and-settlement-systems-finality-and-netting-act-2002/~/media/MAS/Regulations%20and%20Financial%20Stability/Regulations%20Guidance%20and%20Licensing/Payment%20and%20Settlement%20Systems/PSOA%20Notices/02%20%20PSOAN02%20Revised%20Notice%20to%20Holders%20of%20SVF%20Final.ashx

From my attempts to converse with MAS, i have been explicitly told that MAS basically adopts the "We exist to screw you if you are found to be not in compliance with any regulation, if you are looking for information/help with complying with our regulations, sorry not our problem, go find your own lawyer." (Words in quotes are my language, obviously they would phrase it in a more politically correct manner)

This whole attitude of the regulator existing to punish the lack of compliance but refusing to help companies with complying with their OWN regulations just stinks especially when you consider that they are funded by our very own tax dollars. A nice analogy is paying someone to beat you up under the pretext of being your bodyguard.

Hey, Nagato ... is volume picking up with the November spike in the BTC price?

http://bitcoincharts.com/markets/fybsgSGD.html

PSA:
Sad, to see this service go.  :'(