[NEWS] Bit4x.com - First FOREX accepts bitcoin! - 1:1000 Leverage!!!

[kakobrekla]

Bit4X is the only ECN forex broker with bitcoin denominated MT4 balance. Also the best.

Well if it's the only, it's not dificult to be the best, isn't it?
claims like this, f.e. false awards on the page or false claims that one is regulated are nor trustworthy to me.

If you have any serious questions, you know where to find me.

I don't kknow where to find you, so I try it here:

First: Who are you? You work for them or are a custumer?

Bit4X is the ECN forex broker

How can I check it is really ECN? website doesn't say this.

Kind of weird I have to spell it out but here goes: start by reading the Bit4X.com webpage.

well, support seams to be bad as well. :-(


Venet-FX page doesn't mention ECN.....and Bit4x seams to mention all kind of things that sound good

Troll or stupid?

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[capoeira]

Bit4X is the only ECN forex broker with bitcoin denominated MT4 balance. Also the best.

Well if it's the only, it's not dificult to be the best, isn't it?
claims like this, f.e. false awards on the page or false claims that one is regulated are nor trustworthy to me.

If you have any serious questions, you know where to find me.

I don't kknow where to find you, so I try it here:

First: Who are you? You work for them or are a custumer?

Bit4X is the ECN forex broker

How can I check it is really ECN? website doesn't say this.

Kind of weird I have to spell it out but here goes: start by reading the Bit4X.com webpage.

well, support seams to be bad as well. :-(


Venet-FX page doesn't mention ECN.....and Bit4x seams to mention all kind of things that sound good

Troll or stupid?

thank's, I was even considerating trading on your page before your posts, but you made my decision easy.

To all: WHat kind of person is this? You'll tust a guy like this? I won't

[kakobrekla]

Bit4X is the only ECN forex broker with bitcoin denominated MT4 balance. Also the best.

Well if it's the only, it's not dificult to be the best, isn't it?
claims like this, f.e. false awards on the page or false claims that one is regulated are nor trustworthy to me.

If you have any serious questions, you know where to find me.

I don't kknow where to find you, so I try it here:

First: Who are you? You work for them or are a custumer?

Bit4X is the ECN forex broker

How can I check it is really ECN? website doesn't say this.

Kind of weird I have to spell it out but here goes: start by reading the Bit4X.com webpage.

well, support seams to be bad as well. :-(


Venet-FX page doesn't mention ECN.....and Bit4x seams to mention all kind of things that sound good

Troll or stupid?

thank's, I was even considerating trading on your page before your posts, but you made my decision easy.

To all: WHat kind of person is this? You'll tust a guy like this? I won't

You are welcome. It's not a webpage that you trade on anyway. And yeah, I am trusted, since early 2011 [check the OTC].

[Kazu]

So can anybody confirm if Bit4X is legit, and if it actually offers 1:1000 leverage? Because it seems like it only offers up to 500, to me.

[kakobrekla]

So can anybody confirm if Bit4X is legit, and if it actually offers 1:1000 leverage? Because it seems like it only offers up to 500, to me.

Of course its legit, I run it.
1:1000 was limited and it is no longer available for new accounts, the old ones keep it.

[Kazu]

A brokerage could easily use something like Bitpay to allow people to deposit using Bitcoins.

then there is no point of using bitcoin the point of using bitcoin is to keep the account in btc and gain account value if the price goes up

sure, that would be perfect. Bit4x does give this option, 1broker (CFD), too.....but both are unregulated

On the other hand, it is a nice option if you can trade some forex with a BTC deposit (which is changed to $) while BTC is  going sideways or down isn't it?

Wait on Forex-Metal is there an actual BTC/USD pair? That would be awesome for no other reason other than BTC existing in metatrader.

no, but I think Plus500 has, I can't visit their site to check

It does, but Im in US so I can't. Honestly, I've said "i'm in US so I can't" far too many times already its starting to piss me off.

Also can somebody explain to me what the actual fuck does "infinite leverage" mean? WTF?

where did you see that? lol

1broker

Also they say 1.5 pip spreads, on EUR USD, but I'm seeing spreads of a full pip more almost constantly. This is not fun.

They have 3 acount types. I'm testeing a demo account now

Yea :\

[capoeira]

A brokerage could easily use something like Bitpay to allow people to deposit using Bitcoins.

then there is no point of using bitcoin the point of using bitcoin is to keep the account in btc and gain account value if the price goes up

sure, that would be perfect. Bit4x does give this option, 1broker (CFD), too.....but both are unregulated

On the other hand, it is a nice option if you can trade some forex with a BTC deposit (which is changed to $) while BTC is  going sideways or down isn't it?

Wait on Forex-Metal is there an actual BTC/USD pair? That would be awesome for no other reason other than BTC existing in metatrader.

no, but I think Plus500 has, I can't visit their site to check

It does, but Im in US so I can't. Honestly, I've said "i'm in US so I can't" far too many times already its starting to piss me off.

Also can somebody explain to me what the actual fuck does "infinite leverage" mean? WTF?

where did you see that? lol

1broker

Also they say 1.5 pip spreads, on EUR USD, but I'm seeing spreads of a full pip more almost constantly. This is not fun.

They have 3 acount types. I'm testeing a demo account now

Yea :\

Plus500: I can't trade eith them either as they block Brazil. hehehe...take it easy

1broker: Never seen that claim, but since I allready traded their BTC/USD CFD I gues they mean that you can change leverage (up to the limit of course) on the fly when doing an order. (Not that that makes any sense to me, you want half of max leverage, just trade half the size

[Kazu]

HEY GUISE I FIGURED OUT HOW TO MAKE GUARANTEED BITCOIN!

(Assuming 0% credit risk on Bitstamp/Gox, Plus500 & Broker1).

23c5ee89582f5474327d1606bf7d57bdb5b6b935

(Lets see if anybody can figure this out).

What could possibly go wrong?

In any case, do you think that Broker1 & Plus500 (broker1 in particular) can be trusted? Even a preliminary look at their model shows how easy it is to cheat.

[Kazu]

Also:

"If high leverages are used and markets are volatile, yes. However, if a position loses too much of its value and a leverage greater than 1 is used, it gets closed automatically. There are currently no "margin calls" or similar mechanisms on our platform. "

What the actual fuck is this supposed to mean. If a order is closed automatically, thats a margin call, unless im missing something?

Similarly:

"Currently all markets are closed on weekends and holidays. Some markets are also closed at night. However, placing orders is possible all the time. "

Does this apply to BTC/USD? And if so, wtf? And if so, do I still get my swap/interest?

also what does it mean to long BTC with a leverage of 1 with an account denominated in BTC? That essentially just means longing BTC with a leverage of 2 assuming USD denomination?

Honestly this is fucking weird. Also, how come BTC gets a 65.7% interest rate yearly? Is it because you are essentially leveraging x2? Even then, you're getting like 32.85% interest, wtf?

[kakobrekla]

Why are you surprised, you are talking about diy noob made bucket shop and not something like Bit4X.

[Kazu]

unfortunately bit4x doesn't appear to have any way for me to even make an account nor does it have a BTC/USD pair (apparently they are making a... USD/BTC pair?) so unless somebody is able to confirm it actually works, I'm not really going to bother.

[capoeira]

unless somebody is able to confirm it actually works, I'm not really going to bother.

there isn't even any post of someone who tried it out

[capoeira]

HEY GUISE I FIGURED OUT HOW TO MAKE GUARANTEED BITCOIN!

(Assuming 0% credit risk on Bitstamp/Gox, Plus500 & Broker1).

23c5ee89582f5474327d1606bf7d57bdb5b6b935

(Lets see if anybody can figure this out).

What could possibly go wrong?

In any case, do you think that Broker1 & Plus500 (broker1 in particular) can be trusted? Even a preliminary look at their model shows how easy it is to cheat.

explain this

[kakobrekla]

unfortunately bit4x doesn't appear to have any way for me to even make an account

I did send you your PGP signed contract in a couple of minutes after receiving your application. I don't see how theres no way?

so unless somebody is able to confirm it actually works, I'm not really going to bother.

If you think traders will find you .... well good luck with that. On the other hand, finding them is pretty easy.

there isn't even any post of someone who tried it out

FYI there are, even on this very forum. At this point I think you are illiterate and there is nothing that can be done for you.  
But, because I am a very nice guy, I will cross paste it for you from the OTC:

Highly regarded - sharp market insights. Very on top of his businesses. Runs bitbet & bit4x - I use bit4x & hold bitbet shares.

Great experience with Bit4X, highly recommended

Feel free to contact the people in question, thats why OTC is about.

Anyway, I think the real problem is that you do not even have 10 BTC. (I am assuming that based on your posts contents and donation addresses in the signatures, which only poor noobs use to beg)
If that is the case, please stop wasting my time.

[capoeira]

Also:

"If high leverages are used and markets are volatile, yes. However, if a position loses too much of its value and a leverage greater than 1 is used, it gets closed automatically. There are currently no "margin calls" or similar mechanisms on our platform. "

What the actual fuck is this supposed to mean. If a order is closed automatically, thats a margin call, unless im missing something?

you should as this things in the 1briker thread, but i'll respond those.


"margin call" is the warning, "margin close" is the forced closing

"Currently all markets are closed on weekends and holidays. Some markets are also closed at night. However, placing orders is possible all the time. "
Does this apply to BTC/USD?

No, it's open 24/7

also what does it mean to long BTC with a leverage of 1 with an account denominated in BTC? That essentially just means longing BTC with a leverage of 2 assuming USD denomination?

sure. your cfd is leverged 1x and your real BTC, too (if you want to call it like that)

That's exactly the same when you trade a dolar pair on forex with a dolar dominated account

Also, how come BTC gets a 65.7% interest rate yearly? Is it because you are essentially leveraging x2? Even then, you're getting like 32.85% interest, wtf?

well it's a market maker, he makes the rules....it's a take it or leave it thing......

[capoeira]

@kakobrekla

I wouldn't waste my time to waste your time.....And I wont waste any more, to respond to people like you

[kakobrekla]

@kakobrekla

I wouldn't waste my time to waste your time.....And I wont waste any more, to respond to people like you

Yet you are still doing it.

[Kazu]

HEY GUISE I FIGURED OUT HOW TO MAKE GUARANTEED BITCOIN!

(Assuming 0% credit risk on Bitstamp/Gox, Plus500 & Broker1).

23c5ee89582f5474327d1606bf7d57bdb5b6b935

(Lets see if anybody can figure this out).

What could possibly go wrong?

In any case, do you think that Broker1 & Plus500 (broker1 in particular) can be trusted? Even a preliminary look at their model shows how easy it is to cheat.

explain this

(Assuming 1 BTC price is $100).

Step 1: Deposit 1 BTC into Broker1 & Deposit $100 into Plus500
Step 2: Long BTC/USD in Broker1 with 1 BTC & short BTC/USD in Plus500 with $100, hopefully as close to the same price as possible.
Step 3: Wait for BTC price to go up 50% or down 50%.
Step 4: Collect interest from Broker1 while you wait.
Step 5: Close the position in both brokerages after 50% change & Realize that even if interest was 0, you just made money.

Reason:
If I long BTC/USD in Broker1, and BTC goes to $150, you made 1*5*0.5 = 2.5 BTC = $375.
If BTC goes down to $50, you lost 1*5*0.5  = 2.5 BTC = $125.
If I short BTC/USD in Plus500 and BTC goes down to $50, you made $100*5*0.5 = $250 = 5 BTC
If BTC goes up to $150, you lost BTC $100*5*0.5 = $250 = ~1.7 BTC.
If BTC goes down, you make 2.5 BTC
If BTC goes up, you make 0.8 BTC

Step 6: Re-balance your closing on the exchange of your choice by buying BTC with an amount of USD equal to your USD profit, or selling BTC equal to your USD loss.
Step 7: Tip kazu: 1FQLWseEPhJNQey2m6Mi1pSFf8iyK8e5s7

[capoeira]

HEY GUISE I FIGURED OUT HOW TO MAKE GUARANTEED BITCOIN!

(Assuming 0% credit risk on Bitstamp/Gox, Plus500 & Broker1).

23c5ee89582f5474327d1606bf7d57bdb5b6b935

(Lets see if anybody can figure this out).

What could possibly go wrong?

In any case, do you think that Broker1 & Plus500 (broker1 in particular) can be trusted? Even a preliminary look at their model shows how easy it is to cheat.

explain this

(Assuming 1 BTC price is $100).

Step 1: Deposit 1 BTC into Broker1 & Deposit $100 into Plus500
Step 2: Long BTC/USD in Broker1 with 1 BTC & short BTC/USD in Plus500 with $100, hopefully as close to the same price as possible.
Step 3: Wait for BTC price to go up 50% or down 50%.
Step 4: Collect interest from Broker1 while you wait.
Step 5: Close the position in both brokerages after 50% change & Realize that even if interest was 0, you just made money.

Reason:
If I long BTC/USD in Broker1, and BTC goes to $150, you made 1*5*0.5 = 2.5 BTC = $375.
If BTC goes down to $50, you lost 1*5*0.5  = 2.5 BTC = $125.
If I short BTC/USD in Plus500 and BTC goes down to $50, you made $100*5*0.5 = $250 = 5 BTC
If BTC goes up to $150, you lost BTC $100*5*0.5 = $250 = ~1.7 BTC.
If BTC goes down, you make 2.5 BTC
If BTC goes up, you make 0.8 BTC

Step 6: Re-balance your closing on the exchange of your choice by buying BTC with an amount of USD equal to your USD profit, or selling BTC equal to your USD loss.
Step 7: Tip kazu: 1FQLWseEPhJNQey2m6Mi1pSFf8iyK8e5s7

or I didn't understood or it doesn't make sense:

both have 5x levergage?

(ignoring interest (which shouldn't be ignored))


you are hedging one against the other with 5x - until price falls or ups 20% your gain/loss is 0.......after that you have one trade left (the other is 0 now), which can win or loose! it's like waiting 20% movement to make a trade in the movement direction.
BTW: at least ar 1broker you can hedge against other positions, so no need for 2 brokers. and don't forget, interest rate changes all the time

[Kazu]

HEY GUISE I FIGURED OUT HOW TO MAKE GUARANTEED BITCOIN!

(Assuming 0% credit risk on Bitstamp/Gox, Plus500 & Broker1).

23c5ee89582f5474327d1606bf7d57bdb5b6b935

(Lets see if anybody can figure this out).

What could possibly go wrong?

In any case, do you think that Broker1 & Plus500 (broker1 in particular) can be trusted? Even a preliminary look at their model shows how easy it is to cheat.

explain this

(Assuming 1 BTC price is $100).

Step 1: Deposit 1 BTC into Broker1 & Deposit $100 into Plus500
Step 2: Long BTC/USD in Broker1 with 1 BTC & short BTC/USD in Plus500 with $100, hopefully as close to the same price as possible.
Step 3: Wait for BTC price to go up 50% or down 50%.
Step 4: Collect interest from Broker1 while you wait.
Step 5: Close the position in both brokerages after 50% change & Realize that even if interest was 0, you just made money.

Reason:
If I long BTC/USD in Broker1, and BTC goes to $150, you made 1*5*0.5 = 2.5 BTC = $375.
If BTC goes down to $50, you lost 1*5*0.5  = 2.5 BTC = $125.
If I short BTC/USD in Plus500 and BTC goes down to $50, you made $100*5*0.5 = $250 = 5 BTC
If BTC goes up to $150, you lost BTC $100*5*0.5 = $250 = ~1.7 BTC.
If BTC goes down, you make 2.5 BTC
If BTC goes up, you make 0.8 BTC

Step 6: Re-balance your closing on the exchange of your choice by buying BTC with an amount of USD equal to your USD profit, or selling BTC equal to your USD loss.
Step 7: Tip kazu: 1FQLWseEPhJNQey2m6Mi1pSFf8iyK8e5s7

or I didn't understood or it doesn't make sense:

both have 5x levergage?

(ignoring interest (which shouldn't be ignored))


you are hedging one against the other with 5x - until price falls or ups 20% your gain/loss is 0.......after that you have one trade left (the other is 0 now), which can win or loose! it's like waiting 20% movement to make a trade in the movement direction.
BTW: at least ar 1broker you can hedge against other positions, so no need for 2 brokers. and don't forget, interest rate changes all the time

Leverage is just to make the profits matter more, otherwise you'd make very little. Theoretically you could do it with no leverage.

Also, you're worried about margin calls again? Darn, that little bugger. Note that you'd still make money on the 20%, even taking into account spreads. You're giving up 0.7% in either direction, so we're looking at:

Loss of 1 if DOWN.
Win of 0.93 if UP

On the other side,
loss of $100 if UP
Win of $93 if DOWN.

Now we've essentially either bought 0.93 BTC for $100...
OR we sold 1 BTC for $93 if down.

Swell right? I save myself $13 per coin if going down, or add on 0.93 BTC if down for a measly $100 when that 0.93 BTC should be worth $111.6.

Now technically you've still lost money in a downtrend, but you've cut that loss from $20 to $7, for no real reason.

And interest is always positive for BTC/USD right? Ive yet to see it ever dip below 0%. So that cuts loss further.

EDIT: How would you hedge on 1broker? Am I missing something? As far as I can tell, all of the accounts are by default BTC-denominated, so its impossible to hedge entirely out of BTC unless there is some special option im missing?