Best PLace to trade Forex using Bitcoin?

[BTCBinary]

Hi guys.

Latelly, I've been thinking in going in big with Forex using my bitcoins. There are a few Brokers that offers forex trading services with bitcoin but many of them are pretty shady...

I was wondering if you guys could give me your opinion on the best place to trade Forex using Bitcoin.

[Bitcoin_Speculator]

I use whaleclub.co - I don't trade Forex there yet (they only have eurusd market) but BTCUSD, Oil, Gold are great. I'm in touch with their support team and they're gonna expand to more forex markets soon and reduce the spreads.

In general I have used sfx and 1broker, they are ok but they get you with the spreads. They tell you for example EURUSD spread at 1 pip but when there's a little volatility in the market and you come in to try to make some dough they gonna increase the spread on your ass. I've seen it even at 10pips on there at times, so it's useless to me because I only trade when there's some volatility.

Whaleclub has fixed spreads, instant and full execution (could not find elsewhere), it's fast, responsive, their support is pretty much most pro i've seen. I just wish they would expand to more markets.

They also have an affiliate program. If you haven't yet signed up you can use my link and get a 100% deposit bonus to your balance that is released to you over time: https://whaleclub.co/join/1HEfbg

[Jasad]

i dont interest to trade forex with bitcoin,just because i dont know where to start it,just try this what i found https://www.instaforex.com/bitcoin_trading

[HeroCat]

If you wish try Bitcoin Forex binary, you can check my signature - there are a lot of binary options, which can make fast win 

[farfakugel]

While I appreciate HeroCat posting here about binary options I think as a vet trader it is my duty to inform any rookies that may be reading this thread about the dangers of trading binary options.

I will demonstrate using simple maths why binary options are a scam in any case.

Binary options are ways to bet on whether the price of a given asset will be higher or lower in X minutes. Usually X is small, sometimes less than 1 minute. Given that X is so small, the probability of being right and winning is 50%. That is assuming the spreads are null which is usually not the case so your real probability is under 50%.

When you win they pay you out between 60% and 85% on the capital you invested to make the bet. When you lose however you lose your entire capital aka 100%.

Hence the expectancy of this "game" is always negative: 50% x 85% + 50% x (-100%) < 0

Which means you will ALWAYS lose in the mid/long term when you trade binary options.

The house you are trading against will ALWAYS win mid/long term because they take opposite side of your trade and hence have positive expectancy. Their edge is (100% - 85%) = 15% and many times more depending on what payout they offer you.

Compare that to the regular gambling edge of 1%-2% and you see why binary options is one of the most lucrative businesses to be in from a profitability standpoint FOR THE HOUSE.

Binary options are therefore much worse than gambling for you the trader.

Unfortunately binary options houses are marketing machines that go after the "uninformed" investor/trader and their communication and messaging is very similar to many casinos playing into their audience's desire to gamble.

You are better off playing the slot machine!

[Olaf]

This is how I would do it, since like you mention most places are shady which they are.

Just use the capital cashed out through bitcoin - then open a traditional think or swim account and pick a forex like every other person.

The small step is converting it into cash - but whats the better alternative? getting screwed over taking a chance. Or knowing some legit forex on the stock market and doing a extra step.