They've done this many times before, and scammed several users (including me) out of thousands of dollars.

Just search for "hitbtc" and check the other threads here.

/Steve

I have traded with them a few times, but their withdrawals are very slow - 2-4 weeks. I wouldn't recommend.

First, if you look at their market data for the major pairs (BTCUSD, BTCEUR, BTCLTC), you can see that nobody is quoting to fulfill the market maker requirements. I saw this before I started market making, and I see it now. Effectively I was the only market maker.

For example, their smallest level of participation requires 1 BTC per side at <= 0.3%. Current market depth on BTCUSD is this:
http://s14.postimg.org/96j58xzz3/hitbtcdepth.jpg



So the current spread for 1 BTC is 296.33 / 300.57. Thats a 1.43% spread, so clearly > 0.3% they require. You can repeat the same process for the other levels and pairs and you'll see that nobody is quoting tight enough to meet their requirements.

Second, if there was some other explanation surely they would have responded to my complaint on their own forums: https://forum.hitbtc.com/discussion/9/hitbtc-not-paying-out-on-market-making-bonuses

They have never responded to me, either publicly or privately to explain why they never paid the money they owed.

I have full logs of my market making activity, and a full email trail of the discussion with their customer rep "Andrus Holm", up until the point at which I asked what had happened to the payment. From that point on, nobody has responded to any emails regarding the issue, and any support tickets I open are just closed without comment.

/Steve

Stay away from HitBTC (they scammed me out of $6000 USD, and other users have reported multiple issues with them blocking access to funds etc.).

I'd suggest you try either:

* ANXPro/Justcoin who are great, but their fees are a bit higher.
* Kraken who are a solid exchange and have the largest EUR trading volume.

Both of these are well established, and I've never had any problems with withdrawing funds etc.

/Steve

No - they never paid, and never responded to multiple emails asking what had happened. They still advertise the same market making bonuses on their website, but these are obviously a scam.

I contacted a couple of debt collection agents in Denmark, however according to them the company appears to be just a shell company and has no assets in Denmark to claim against - hence unlikely to ever get my money back.

/Steve

Yes - they deleted my post without comment. Basically I just posted that I completed the contracts (S &  XS on both BTCUSD and BTCEUR) and that they owed me the money, and had not replied to any emails asking what had happened to the payment.

All I can think is that they are either scamming or bankrupt, and don't want their customers to find out what they are up to. I can't think of any legitimate reason that they would delete the post.

/Steve

It's clear why they have moved off bitcointalk - so that when there are customer complaints and issues, they can simply delete the post and hope nobody notices.

I've posted again here (which they can't ignore or delete): https://bitcointalk.org/index.php?topic=857344.0

/Steve

I completed market making contracts worth $6000 USD, however HitBTC have not paid, and are not responding to emails or questions on their forum asking what has happened to the money.

They've now deleted the forum post I made too (https://forum.hitbtc.com/index.php?p=/discussion/9/hitbtc-not-paying-out-on-market-making-bonuses).

If you are considering market making for them PLEASE DONT! You won't get paid, and if they aren't paying their bills there is a good chance that they are about to shut down.

/Steve

Did you ever get your funds back?

I'm considering starting legal action against HitBTC for market making fees owed - they owe me $6000 USD for market making on BTCUSD and BTCEUR which they have never paid. Not only that but they have not responded to any emails asking why they haven't paid. They've also deleted my post on forums.hitbtc.com asking for updates.

thx
Steve

Why not just make it voluntary then?

That way the consumers and the market can decide if they want to trade on a regulated exchange (which is theoretically 'safer' but would probably have to charge higher fees to cover regulatory costs), or an unregulated exchange.

/Steve

HitBTC (which gives its address in Copenhagen) owes me money from its market making scheme that it hasn't paid (https://forum.hitbtc.com/index.php?p=/discussion/9/hitbtc-not-paying-out-on-market-making-bonuses). They have given no explanation for the delay and are no longer responding to emails or forum posts regarding the payment.

Anyone familiar with Danish law recommend a next course of action? In particular

* If anyone reading this is based in Copenhagen (or knows someone that is), can you verify whether or not HitBTC actually has an office in Copenhagen? Or is it just a serviced office forwarding the mail to some offshore bucket-shop? The listed address given on their site https://hitbtc.com/legal-information  is ULLUS CORPORATION K/S, Strandvejen 60, 2900 Hellerup, Denmark. But a quick google reveals that this is just a serviced office http://www.brinkoffices.dk/en/

* Is there a small claims or equivalent debt collection procedure in Denmark (the only info I've found so far is in Danish only, and google translate can only get you so far)? They owe me $6000 USD, which I'm hoping is small enough to fast track without costing me a ton in legal bills.

* Can I appoint a local lawyer or debt collection agent in Denmark to act on my behalf (since I don't live there)?

thanks
Steve

An update from Raphael today:

"Indeed we took some time to modify our antispam settings. However this is now all set.

All users have the same limits:
min. 0.1 LTC for LTC pairs, 0.01 for BTC pairs"

/Steve

Yes - I had a response from Raphael a few days ago: "The minimum order is still 0.001 BTC, however we have implemented an antispam rule so that you can not place an order of less than 1/1000th of your avalable balance in a currency/wallet unless it is more than 0.1 unit. The reason was an increasing amount of orderbook spam with thousands of tiny orders".

They did set it back to 0.01 for a while, but now for whatever reason they've rolled the change back again.

/Steve

In case anyone else had this issue, I just had an email from Raphael - this was a change they just made, but it has now been tweaked so that you can trade 0.01 BTC.

/Steve

Just noticed all my smaller orders (anything < 0.1 btc) are getting rejected "Invalid order: minimum amount for trading order is 0.1". When did this change? Or is it an error?

/Steve

A few reasons:

• One thing is that it's a bit of a pain trying to use Highcharts to zoom into specific areas of interest. It's also sometimes tricky to see exactly what data points that you have. It would be easier and more flexible if you could just grab the raw numbers & chart in Excel.
• Another idea would be to run some technical analysis on different series, and look for patterns/indicators. Quite what this is would be difficult to say until I find it.

Anyway - if you can add it, that would be great. In any case I sent you a small tip.

thanks
Steve

Great site. Could I make one request though - could you also make the raw data available to download (e.g csv format)?

thanks
Steve

Still down - API too, so its not just the website. No response from support either which is worrying.

/Steve

The wallet is called "deposit", and trading page is "Total Return Swaps".

/Steve

BitFinex down? Lots of timeouts accessing both the website & API.

/Steve