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Author Topic: [ANN] SimpleFX.com - forex broker with BTC and LTC crosses and 1:500 leverage  (Read 61098 times)
danshan11
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February 11, 2017, 04:09:26 PM
 #301

Can you please explain this to me, I know I have no clue what I am talking about and appreciate your patience explaining if you can.

I want to short the value of 70 bitcoin at maximum leverage so I can deposit the minimum amount of btc to get the 70 btc short.
I see the leverage is 10-1 is that the maximum?
so I need to deposit 7 btc right?
using max leverage at what price would my position auto close assuming I deposit the 7 btc at say (1000) and that 7 is the total amount in my account?

thanks for your time anyone that can help me








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svesp15
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February 13, 2017, 07:32:02 PM
 #302

Can you please explain this to me, I know I have no clue what I am talking about and appreciate your patience explaining if you can.

I want to short the value of 70 bitcoin at maximum leverage so I can deposit the minimum amount of btc to get the 70 btc short.
I see the leverage is 10-1 is that the maximum?
so I need to deposit 7 btc right?
using max leverage at what price would my position auto close assuming I deposit the 7 btc at say (1000) and that 7 is the total amount in my account?

thanks for your time anyone that can help me

My understanding is you get auto closed when account equity drops to 30% of required margin.  So, 30% x 7BTC = 2.1 BTC

SimpleFX
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February 14, 2017, 03:00:59 PM
 #303

Can you please explain this to me, I know I have no clue what I am talking about and appreciate your patience explaining if you can.

I want to short the value of 70 bitcoin at maximum leverage so I can deposit the minimum amount of btc to get the 70 btc short.
I see the leverage is 10-1 is that the maximum?
so I need to deposit 7 btc right?
using max leverage at what price would my position auto close assuming I deposit the 7 btc at say (1000) and that 7 is the total amount in my account?

thanks for your time anyone that can help me

My understanding is you get auto closed when account equity drops to 30% of required margin.  So, 30% x 7BTC = 2.1 BTC



Yes, that is correct. We have a very awesome tool to simulate your trades - Trade Calculator. Take a look at the tutorial: https://www.youtube.com/watch?v=F12y9M-Khj8

SimpleFX - Trade Forex with Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero & Tether
danshan11
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February 15, 2017, 04:14:34 AM
 #304

auto closed on all open trades or just that trade?

say I have 1 btc on blah blah and it is positive right now
I have 1 btc on blah blah and it is negative 1 btc
what happens in that case?
SimpleFX
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February 15, 2017, 08:38:36 AM
 #305

auto closed on all open trades or just that trade?

say I have 1 btc on blah blah and it is positive right now
I have 1 btc on blah blah and it is negative 1 btc
what happens in that case?


When your margin level (ration of equity to margin) on given account drops below 30%, one of your trade - the trade with the current biggest loss will be closed automatically. Then our system will recalculate your margin level again, if it is still below 30% next trade with the current biggest loss will be closed.


Margin level in webtrader:


Margin level in MT4:

SimpleFX - Trade Forex with Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero & Tether
danshan11
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February 15, 2017, 05:10:15 PM
 #306

thanks for the help
danshan11
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February 21, 2017, 02:55:02 AM
 #307

what is your free margin? I see that on the bottom but I dont understand what it means? you should put a screenshot up and explain all the spots to me that would be awesome and I am sure other people can use it. 

I also wondered I opened a position for size 500 how do I know how much bitcoin that is, can you give me the formula to figure that out.

also what is your overnight fee on long positions if someone wanted to sit on facebook (funny pun) long term at 50 to 1 leverage?
SimpleFX
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February 27, 2017, 07:27:17 AM
 #308

what is your free margin? I see that on the bottom but I dont understand what it means? you should put a screenshot up and explain all the spots to me that would be awesome and I am sure other people can use it. 

I also wondered I opened a position for size 500 how do I know how much bitcoin that is, can you give me the formula to figure that out.

also what is your overnight fee on long positions if someone wanted to sit on facebook (funny pun) long term at 50 to 1 leverage?

If margin is the part of your account equity which is currently blocked to secure your opened trades, free margin is the remaining part of your equity which can be used to open new trades.

Position sizes and overnight fees can be checked very easy in our Trade Calculator, which is described in this video: https://www.youtube.com/watch?v=F12y9M-Khj8

SimpleFX - Trade Forex with Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero & Tether
danshan11
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March 02, 2017, 05:17:16 AM
 #309

wow your swap rates are unbelievable.  I really need to understand it better please clarify with hard numbers, please

example
put 1 btc on fb.us what would the overnight swap actual fee be on that




please break it down for me clearly

thank you

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March 02, 2017, 06:56:17 AM
 #310

I appreciate the efforts been put forward by simplefx to setup this company as a follower of this bitcoin fx service i think it is now of importance that you include PAMM accounts into your services this will not only boost peoples income but promote and expose your company to the zenith.
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March 02, 2017, 09:06:23 AM
 #311

wow your swap rates are unbelievable.  I really need to understand it better please clarify with hard numbers, please

example
put 1 btc on fb.us what would the overnight swap actual fee be on that




please break it down for me clearly

thank you



Hello, the most convenient way to calculate swaps for any position and instrument is by using our Trade Calculator: https://www.youtube.com/watch?v=F12y9M-Khj8

I appreciate the efforts been put forward by simplefx to setup this company as a follower of this bitcoin fx service i think it is now of importance that you include PAMM accounts into your services this will not only boost peoples income but promote and expose your company to the zenith.

It requires some technical preparations but maybe we will implement PAMM accounts in the future.

SimpleFX - Trade Forex with Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero & Tether
danshan11
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March 02, 2017, 06:31:00 PM
 #312

that video says nothing and absolutely does not answer my question

can you please just do the math and show your work for me on an example overnight trade so I can see it, please
SimpleFX
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March 02, 2017, 07:21:57 PM
 #313

that video says nothing and absolutely does not answer my question

can you please just do the math and show your work for me on an example overnight trade so I can see it, please

With account leverage 1:500 you may open about 434 lots on FB.US (required margin approximately 1btc). Swap long -0.0036 BTC, Swap short -0.0029 BTC

Calculations:

Formula for swaps: size of order*contract size*tick size*swap rate=swap value in quote currency

Swap for Buy order:
434*1*0.01*(-0.973100)= -$4.22 =- 4.22/1185 BTC= - 0.0036 BTC

Swap for Sell order:
434*1*0.01*(-0.787700)= -$3.41= -3.41/1185 BTC= - 0.0029 BTC


SimpleFX - Trade Forex with Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero & Tether
danshan11
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March 02, 2017, 09:30:47 PM
 #314

so .36% per day is that correct for long?
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March 02, 2017, 09:46:14 PM
 #315

so .36% per day is that correct for long?

Yes, that is correct.

SimpleFX - Trade Forex with Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero & Tether
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March 03, 2017, 01:28:46 AM
 #316

Simple FX,
With bitcoin continuing to go higher, have you considered cutting the size of your BTC contract, maybe to 50BTC or even 10BTC? 
SimpleFX
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March 03, 2017, 07:33:52 AM
 #317

Simple FX,
With bitcoin continuing to go higher, have you considered cutting the size of your BTC contract, maybe to 50BTC or even 10BTC? 

This is actually a very good question, because recently we started to consider it;) I am not sure about the exact solution, whether it'll be a modification to recent contract or implementing additional "mini" BTC contracts. Time will tell.

SimpleFX - Trade Forex with Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero & Tether
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March 03, 2017, 07:48:29 AM
 #318

Simple FX,
With bitcoin continuing to go higher, have you considered cutting the size of your BTC contract, maybe to 50BTC or even 10BTC? 

This is actually a very good question, because recently we started to consider it;) I am not sure about the exact solution, whether it'll be a modification to recent contract or implementing additional "mini" BTC contracts. Time will tell.

Also, have you think to increase leverage on BTC\USD? 2x is really low! I don't want to move to other broker , but try to move it at least at 5x!

SimpleFX
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March 03, 2017, 12:00:56 PM
 #319

Simple FX,
With bitcoin continuing to go higher, have you considered cutting the size of your BTC contract, maybe to 50BTC or even 10BTC? 

This is actually a very good question, because recently we started to consider it;) I am not sure about the exact solution, whether it'll be a modification to recent contract or implementing additional "mini" BTC contracts. Time will tell.

Also, have you think to increase leverage on BTC\USD? 2x is really low! I don't want to move to other broker , but try to move it at least at 5x!

Effective leverage on BTC is 1:10, you just need to set account leverage to 1:500

SimpleFX - Trade Forex with Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero & Tether
danshan11
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March 03, 2017, 03:04:50 PM
 #320

I just wanted to add that I have done multiple deposits and withdrawals and have had zero issues with simplefx in the past 2 months. Their response on the forum is good, they have live chat.  I am just so scared to put to much coin in because of the famous anyone can exit anytime. BUT up to this point all good from simplefx and thanks again for the responses. 
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