Bitcoin Forum

Just wanted to share my frustration with IDEX exchange..  In terms of trading is by far the worst i have ever seen.. With a so low liquidty the allowance of bots trading make a huge spread, where only it is possible to have profit if you use some bots.. otherwise you will loose hours and hours to find the limit price of each bot, which also could change in a while.
I complained tons of times, and the customer support is really fast answering (i must admit they are the fastest of all exchanges!), but nothing changes.
I just began to think that these bots could be some "inside" job to make a profit... so the perfect business to cheat people, unless they use bot trading!

i don't think your frustrations have anything to do with bots! it is all because of the low liquidity of the exchange otherwise bots can not do any damage to other traders as long as you are making good decisions.

for example if you speculate some shitcoin is going to get pumped today and you want to get in now and get out after you have made 30% profit, existence of bots is not going to change this solid strategy!

honestly youre right buddy, but other exchanger too, some people using trading bot on some exchanger, including idex, just like you mentioned.

Im also experienced that too. But thats not an issue for me since some exchange are using bot trader too, the worst for me is the selling and buying limit it was supposed to be not present on a (DEX) IDEX is a so called decentralized exchange and like other DEX it must not have limitation for trading tokens, specially ERC20 tokens.

I personally don't like decentralized exchanges because of some reasons or do I say personal reasons.  So far looking at most of this decentralized exchanges it doesn't give you any glimpse of hope and satisfaction to place trades on them. I have used two decentralized exchanges which are Bancor and ddex because of its uniqueness and transparencies, although ddex has an alarming trading fee

Actually now most of the exchanges are bots , I really don't see a problem in it , but of course at idex is very small and the liquidity of coins , and especially now do not have to choose if you want to sell a coin it is sometimes popotet

Yea, i have suffered that in IDEX too. But I personally hate HitBTC. Their fees in some coins are abusive and they scammed me around $500 usd in CRS. They launched an IOU with this coin, never opened the market nor give the chance to move those coins to a different exchange, and finally delisted it.

I don't have any experience with Bot in IDEX, because I rarely use this exchange, but I can say that IDEX is the worst Decentralize Exchange out there. they are very lack of features. Their minimum trading amount and fees are ridiculous, and I experience many times the stability issue using their platform. All they do was advertising and luring user to buy their AURA token. I stopped using IDEX and just move to other Decentralize Exchange. There are tons of better Decentralize Exchange out there.

Idex is not entirely a nightmare because every exchange uses a bot and some exchange liquidity does not stand in ranknwith idex

Just focus on your decisions while trading and you won’t have any problems bot or not bot

The problem is that most decentralized exchange works the same way. Some are even worse than IDEX, you'll know when you get into forkdelta and some unknown DEX where the tokens you hold are listed there. You just can make people trade on DEX as it has low volume, you can combine all the dexes you know and compare it to one single volume of bittrex and they still can't match.

bot for trading is not something new in crypto exchange
even on popular exchange like binance there is bot on trading

What you think about this one.

It taken is from tideal.com (https://tideal.com/fee).

https://i.imgur.com/eKiEsDp.jpg


Withdrawal fee:
BTC = 0.01 BTC
ETH = 0.1 ETH.

About the trading, they use bots too.

As they said about withdrawal fee (https://tideal.com/fee) :
But there was no change in the withdrawal fee regulation until today.

So, what you think about the fee? Why the fee makes so high?

Bot can't have direct influence on your trading I have experience similar problems on IDEX some times ago I was thinking the bots is behind it until my guidance educated me that bots have no power over my trading since I am the one who make decision on when to trade on the exchange, the low liquidity is responsible for it.

I don't know what you were thinking trading on IDEX. Many users on that exchange are "gem-finders". I only visit there to look and buy for undervalued tokens.

Hehe, and I recently thought about buying AURORA DAO tokens because price is very cheap and the yearly profit is around 27%.
But I agree that IDEX needs some updates to fix bugs.

If you are looking for a trading platform with absolutely no bot, I think you will not find it. This is a problem we must accept, we can only find an exchange, but there are few bots

low liquidity is a problem being faced by a lot of exchanges and it is a genuine issue that can't be solved by the exchange itself. It will however be resolved with the passage of time with more and more people trading.

These exchanges shouldn't allow bot tradings, it's not right. One, the price and value of the listed coins won't real cos of the bot tradings as opposed to when there is actual tradings where the price of the coins are determined by the traders.

From my experience Liquid.io is the worst exchange. Fake trading competition, wash trading and bots. The exchange is also a lot of time broken, it is impossible to cancel order or make new one, and withdrawal can take sometimes up to few days....

That's unfortunate. You can actually try using new exchange if that's the case. Try using the exchange I am wearing on my signature now. There is no transaction fee here because it will be converted into their token.

I don't like IDEX and use it extremely rarely. Bots all the time trade constantly dumping and lowering the price coins Here you can only buy  tokens  that price is constantly dump.

I don't think IDEX only uses bots, almost all exchanges use bots to manipulate volume. so I think that's a natural thing, maybe it's a little excessive. I see from all DEX Markets, IDEX is one of the good exchanges in my opinion.

Almost all of exchanges are now having trading bots and some traders are also using it. It's hard to tell if the bots are from the exchanges or from the traders. However, you are right some exchanges using bots just to have some spread and kinda frustrating so see a wash trading.

so you prefer give your private keys to some other people and trust them to keep your keys safe? That's so crypto style!

I haven't used IDEX for a long time, but I don't think it's as bad as they say. bot?, come on, almost all the exchanges currently use bots. so there's no need to be surprised. without idex we will have a hard time selling bounty tokens, because almost all new projects must first be listed on IDEX

I haven't used Liquid.io for buying and selling, but have you heard about Liquid.com? Even the liquidity is not that much, but the withdrawal fees of every single coin & tokens are completely zero, yup no fees for withdrawing. I have used this exchange multiple times, and it's quite user friendly for me.

Seems that some here dont get the idea ... I will explain..

Last price of a coin is for example 0,5 ETH.

BEst bid is 0,2 ETH
Best ask is 0,8 ETH

if you try to put any order over this amount.. it wil rise in 0,00000000001 ETH increments until it is almost 0,5 ETH. In other words, you can either place your order at the last price or nothing. But the guy with the but, will buy at 0,2 ETH, when someone decides to sell.
sames if you want to sell... another bot will lower your offer in 0,00000000001 ETH until reach almost 0,5 ETH.
Sumarizing, if you got a bot you get a lot of profit, otherwise you are f**ed. Once again, i ask myself...  "inside" job?

and now, today... IDEX went one step beyong.. FAKE orders in order book! i put a sell order since this morning, and there appears many sell orders executed at higher prices than mine, which obviously is impossible.
Look at the times.. i put the order at 0.00010752 at 16:56 today. and there were some orders executed at 0.00010753 after 17:31

IDEX = SCAM?

https://i.imgur.com/dkyWvwu.jpg

The use of bots is already in most exchanges. But you are right that the decentralized exchanges are useless. It runs very slowly, and unclear how secure it is. Do your research and you will find the one that suits you.

Not just slow or non transparent, but also fraudulent.. as their volumes are fake! Did you saw my post before yours?? Still is happening the same.. during the last night, many other ask orders appear as executed at a higher price that mine.. this is a shamE!

The number of exchanges under the DEX name has recently increased a lot. But I think it's not really DEX. Probably somehow open to manipulation!