1Broker legitimacy / discussion

[poly]

One of the first trading sites I came across that supports leverage was 1broker. The site design is pretty professional, but as bitcoin site hacks and scams are a common occurrence I'd like to hear other people's thoughts on this site.

They have a 50 BTC (leveraged amount) cap for BTCUSD, which I think is quite suspicious. If they are actually buying BTC when I long it, then they should have no problem dealing with 100 BTC or 500 BTC as they are covered if the price goes down with my deposit.

[1715154075]

1715154075

[1715154075]

1715154075

[1715154075]

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[exxe]

The 50 BTC cap for BTCUSD is more of a protection for us and therefore for users' funds. We don't route trades automatically to Bitcoin exchanges, but this does not mean we don't hedge at all (it's just not done instantly)

I wrote about this concern here: https://bitcointalk.org/index.php?topic=123492.msg1448781#msg1448781
and here: https://bitcointalk.org/index.php?topic=123492.msg1501653#msg1501653

[poly]

What is your current bankroll? I'd be very worried if you don't have enough coins to pay out, since you are not automatically hedging.

Plus, what's to stop me from selling 1 cent to affect the price on 1broker since it's not automatically hedged?

[exxe]

What is your current bankroll? I'd be very worried if you don't have enough coins to pay out, since you are not automatically hedging.

Plus, what's to stop me from selling 1 cent to affect the price on 1broker since it's not automatically hedged?

We are constantly watching our financial status. If it we can't pay out all balances to our customers anymore, we will definitely react.
If it really comes to this point we will ALWAYS be able to pay out at least the coins you deposited.

Keep in mind that this is theoretical and there is no danger that this can happen, currently.

[MPOE-PR]

What is your current bankroll? I'd be very worried if you don't have enough coins to pay out, since you are not automatically hedging.

Plus, what's to stop me from selling 1 cent to affect the price on 1broker since it's not automatically hedged?

We are constantly watching our financial status. If it we can't pay out all balances to our customers anymore, we will definitely react.
If it really comes to this point we will ALWAYS be able to pay out at least the coins you deposited.

Keep in mind that this is theoretical and there is no danger that this can happen, currently.

What's "react" mean in that context?

[exxe]

What is your current bankroll? I'd be very worried if you don't have enough coins to pay out, since you are not automatically hedging.

Plus, what's to stop me from selling 1 cent to affect the price on 1broker since it's not automatically hedged?

We are constantly watching our financial status. If it we can't pay out all balances to our customers anymore, we will definitely react.
If it really comes to this point we will ALWAYS be able to pay out at least the coins you deposited.

Keep in mind that this is theoretical and there is no danger that this can happen, currently.

What's "react" mean in that context?

That we notify all customers, close all open positions, give customers deposits back and eventually close.

[jokerdragon]

I will soon bring it on a full report about my relationship with exxe and 1BTCroker. Stay tuned.   

[starsoccer9]

personally i have talked with exxe over emails many times he is a very nice person and is quite legit. The biggest worry I see right now is that people will just make a new account when there account goes into negitives. like my account has right now 0.18btc i belive. i have to put some in soon