[ANN] 1Broker.io - Trade forex, indices, stocks and commodities

[exxe]

You should clarify the way you are calculating price. As far as I tell, you are picking prices off MtGox, BTC-e and BitStamp, using not average prices
and some constant exchange weight but adjustable weight and Bid or Ask price as it suits you. Price can go down on all 3 exchanges but there is
no movement downward on 1Broker or it is noticably delayed, in a way that if all 3 exchanges go down a lot than you will drop your price eventualy
after 1 minute. Once you do that, it takes 1 Satoshi bought on BTC-e for you to rise your price by up to 0.5 BTC!

I will start with the most important concern. We are using constant weight and always use the bid and ask values . You may ask why I'm not just make the algorithm public: It's because of preventing price manipulation. It almost destroyed us some months ago. Nevertheless, I can disclose the algorithm privately if you want.

You shouldn't use our platform for higher frequency trading. It's not ready for that, yet. The average lifetime of positions is more than 3 days and that's the intentional value.

The way prices on 1Broker change reveals major manipulation.

Your accusation comes out of assumptions. I can only say that we don't manipulate markets. You probably shouldn't use the platform if you completely distrust us.

You might call it "risk management" or whatever but I call it bullshit! Changing spread value on will, without any notice, is another "cool" feature.

Please relax. It is clearly written in our Terms. Currently you should expect a spread of at least 0.5% and up to 1%. (This may changes in the future)

What is the point of showing interest when it calculates only at full hour and only if it suits you?

Calculation happens completely automatically. Obviously we determine the interest rate by weighting long positions against shot positions.
As we don't have thousands of active traders a high volume position can change the whole situation regarding interest rates. This was definitely the case in your example.


To sum up: Please start with small positions to get a feeling of interest rates and our market making. Don't use 1Broker for higher frequency trading on BTCUSD, yet.

[wonkytonky]

Issue noticed today:

1. I went Short at around 15:15 with +0.2% interest.
2. At 16:00 I was expecting to see positive interest on my coins but instead calculation was delayed and interest reversed!
3. One and a half minute after 16:00 I was charged with -0.00833333 BTC instead of getting that much coins.



What is the point of showing interest when it calculates only at full hour and only if it suits you? You could show +100% interest rate and switch it
to negative later. Interest is practially a tax on our orders, calculated when and as you wish. I can't remember when it was last time I actualy made
money there! It seems that I'll go negative with interest regardless of if I'm positive or negative when it comes to money made off order itself.

Another thing:

You should clarify the way you are calculating price. As far as I tell, you are picking prices off MtGox, BTC-e and BitStamp, using not average prices
and some constant exchange weight but adjustable weight and Bid or Ask price as it suits you. Price can go down on all 3 exchanges but there is
no movement downward on 1Broker or it is noticably delayed, in a way that if all 3 exchanges go down a lot than you will drop your price eventualy
after 1 minute. Once you do that, it takes 1 Satoshi bought on BTC-e for you to rise your price by up to 0.5 BTC! Coupled with the fact that orders
are not closed when user decides so but on the next tick (which you control), and coupled with the fact I'm putting 20 BTC with leverage 5 in very
shaky price times, when wrong predicition can cost a lot in just few minutes, deciding when to close order is more complicated than opening it! "Will
I make 1 BTC or 0.5 BTC, or maybe I'll go negative (on top of already being negative because of ever hostile interest) let's see ... click!"

You might call it "risk management" or whatever but I call it bullshit! Changing spread value on will, without any notice, is another "cool" feature.

ok if you have a bug.. why dont u just use support.  instead of beeing so harsh on a public forum..

just to show people this is a good working service:

i  made around +-5  btc in 1.5 day trading in very small trading channels   (not the big rallies) and most of my trades took no longer then 30min->2hour..
i used the 15minute chart on clarke moody.. to base my trades on.

take in account that bitstamp reacts to mtgox a bit later so it makes sense that there's some delay on the price
so the super fast trading like on gox is not the way to go here.

support also has been wonderfull when i had some sms withdraw problems. they looked for the problem and made it work again.

interest rate: i think it's a very fair price +- 0.2%  I dont understand why it changes in rate.. but it never seems to be an unfair rate at all..  

I think interest is on the coins you are lending  for your margin position. so it will always be a cost and thus taken from your wallet

1broker should make a simple tutorial or something.. it would help a lot.

[capoeira]

two more questions:

1) When I click on "short", the "stop-buy" option is actually a stop-sell isn't it?

2) Let me ask this one with an example:
I am short with 30BTC
current price is 100
I click on buy and set a stop-buy at 102 (30 BTC)
now price passes 102
will this a) open a new position?
or b) close the short?

up

[exxe]

two more questions:

1) When I click on "short", the "stop-buy" option is actually a stop-sell isn't it?

2) Let me ask this one with an example:
I am short with 30BTC
current price is 100
I click on buy and set a stop-buy at 102 (30 BTC)
now price passes 102
will this a) open a new position?
or b) close the short?

You are right it's actually a Stop-Sell.

It is useful if you want to short a market once it reaches a price below the current one.
Let's say you think that BTCUSD will fall once the price hits 50$ (but you are not sure if it will hit 50$) you can open a Stop-Sell short position with parameter 50.

[capoeira]

two more questions:

1) When I click on "short", the "stop-buy" option is actually a stop-sell isn't it?

2) Let me ask this one with an example:
I am short with 30BTC
current price is 100
I click on buy and set a stop-buy at 102 (30 BTC)
now price passes 102
will this a) open a new position?
or b) close the short?

You are right it's actually a Stop-Sell.

It is useful if you want to short a market once it reaches a price below the current one.
Let's say you think that BTCUSD will fall once the price hits 50$ (but you are not sure if it will hit 50$) you can open a Stop-Sell short position with parameter 50.

question number two?

[exxe]

two more questions:

1) When I click on "short", the "stop-buy" option is actually a stop-sell isn't it?

2) Let me ask this one with an example:
I am short with 30BTC
current price is 100
I click on buy and set a stop-buy at 102 (30 BTC)
now price passes 102
will this a) open a new position?
or b) close the short?

Sorry forgot 2: This will open a new position. Positions are not affecting each other.

[capoeira]

orders are not closed when user decides so but on the next tick

I think this is a point you should clarify @1broker.
Why is this so, and don't you think this is a bit unfair?

[exxe]

orders are not closed when user decides so but on the next tick

I think this is a point you should clarify @1broker.
Why is this so, and don't you think this is a bit unfair?

This more a technical thing than a strategic decision. I already announced a requote-free trading panel, but the implementation takes some time. I am completely overloaded with TODOs currently, so don't expect this in the next days.

[capoeira]

orders are not closed when user decides so but on the next tick

I think this is a point you should clarify @1broker.
Why is this so, and don't you think this is a bit unfair?

This more a technical thing than a strategic decision. I already announced a requote-free trading panel, but the implementation takes some time. I am completely overloaded with TODOs currently, so don't expect this in the next days.

ok, unless the stop comes in the next days like you sweared, this is a minor problem :-)

[exxe]

If engine is not ready for 100 BTC worth orders than please limit orders or something.

Done. Limited size to 40 BTC until market making improves. Experienced users can ask our support for higher limits.

To clarify: This is no implicit confession that we manipulate markets. However, the engine should definitely be better for 10k$ positions, you are right. 

[exxe]

If engine is not ready for 100 BTC worth orders than please limit orders or something.

Done. Limited size to 40 BTC until market making improves. Experienced users can ask support for higher limits.

Thanks. I'm sorry if I pissed you off but if it is an engine than we both (actualy all users and you) might be damaged by evil AI or something!  

No problem. Except the manipulation accusation you brought up valid points. The problem with BTCUSD is that 1Broker was initially not designed for this market. (Extreme volatility, different data sources, interest system, hard to stay correctly hedged)

I will create an internal roadmap about possible improvements.

[exxe]

Current price is $91 and I want to immidiately go Long but close order if price reaches or goes above $98. Can I do that with Limit or Stop-Buy?

No, current order types are only for entering the market. With Stop-Loss and Take Profit orders (coming in 4-8 days) this will be possible.

Does word "executes" in description means order is dormant but becomes Market type once price satisfy criteria and as such it won't be closed
until user initiates closing?

Exactly.

[capoeira]

No, current order types are only for entering the market. With Stop-Loss and Take Profit orders (coming in 4-8 days) this will be possible.

trailing stop would be nice, too

[wonkytonky]

40btc limit ?  it changes during weekends from 100 to 40?

[exxe]

Cool feature added to protect your phone numbers (https://1broker.com/?c=news&newsid=8)

The Master Key system was removed with today's update. There were several reasons for this decision. The most important one is that we think smsTAN is a far more secure system, while it is less confusing and much easier to use. We recommend anyone to enable this feature. It's completely free.

No more privacy concerns with smsTAN:
To make smsTAN, our two-factor authentication system for withdrawals, even more attractive, we now encrypt all phone numbers with the account password. For encryption we use the Rijndael algorithm (AES) with a 128 Bit key. This means that your phone number remains private even if our systems are compromised. If you are already using smsTAN your account will be automatically upgraded to the new system once you perform a withdrawal.

Redundant SMS gateway:
We noticed that sending SMS messages is far from stable and often fails for unknown reasons. Therefore we now use two independent gateway providers to make smsTAN more reliable. If SMS messages are not received properly, you can switch to an alternative gateway in the account settings.

trailing stop would be nice, too

Sure. However, this will take some more time.

40btc limit ?  it changes during weekends from 100 to 40?

We temporarily decreased the upper limit for this market.

[wonkytonky]

40btc limit ?  it changes during weekends from 100 to 40?

We temporarily decreased the upper limit for this market.

would be nice to know what the limit is.

in my case.. i'm fully in fiat so if i want to use your service i'll buy some coins and send it over to short

now if i buy more coins then i can use.. i'll be loosing value if price goes down.

a little indicator somewhere would be nice.

regards

[01BTC10]

I'm now getting automatically logout even when I have an open position. It's annoying.

Also is there any reason why my position is now limited to 40BTC instead of 100BTC?

[exxe]

would be nice to know what the limit is.

in my case.. i'm fully in fiat so if i want to use your service i'll buy some coins and send it over to short

now if i buy more coins then i can use.. i'll be loosing value if price goes down.

a little indicator somewhere would be nice.

regards

With today's update all limits are listed here: https://1broker.com/?c=cfds

I'm now getting automatically logout even when I have an open position. It's annoying.

Also is there any reason why my position is now limited to 40BTC instead of 100BTC?

Added to bug tracker.

Sorry for the occasional changes of limits. We are constantly optimizing our risk management which leads to such changes.
However, we are currently thinking about some strategies to increase our limits significantly, but it's too early for public announcements.

[wonkytonky]

 

Would you be interested in adding yet another type of order, that would work like explained bellow?

1. User enters the market immidiately at some price but then his or her order closes automatically if price:

a. drops to some user defined price or
b. rises to some user defined price.

E.g. I enter BTC/USD immidiatelly at $100 and set low threshold at $98 and high threshold at $110 then log off. If one of conditions are meet then
engine closes the order.

I'm having hard time wasting hours watching price oscilations. It is nerves-losing job as well. On the other hand, I know how much I'm ready to lose
and how much I'm OK to earn. It is fine if I lose money because of bad prediction but it is not fine if I miss earning money because I was not behind
my computer at the time price went up in my favour but afterwards dropped to point where I would get very little, nothing or even lose money. It
already happened too many times that I, for example, went Long at current price and then went outside or to sleep. In the meantime, price went up
but it also dropped afterwards. Woke up, saw that I'm 5% positive but missed the chance to cash-out at 25% positive. It totally screws my day
especially if I lose some money afterwards, while actualy being present and watching "the show".

No, current order types are only for entering the market. With Stop-Loss and Take Profit orders (coming in 4-8 days) this will be possible.

I think they are working on that

[Beutelschneider]

I have to approve BitcoinMegastore, a Stop-Loss and a Take-Profit is MANDATORY if you're running a service like this. All serious brokers have this feature! OANDA offers it in their web interface, FXCM with their Software "TradingStation", too. If you open an order, you're able to define when it's closed.

If my trade is running in + but hasn't reached the point where it will be closed by the system, i usually pull the Stop-Loss a bit into the + area. In case the trade turns against my prediction, i still make a small profit!

So the Take-Profit and Stop-Loss needs to be adjustable!

For me with a few years of trading experience it is OK to loose 'cause i made a bad decision. But it is not OK to loose 'cause of a service that doesn't offer necessary features or has technical issues!