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Author Topic: mtgox back in business!  (Read 2822 times)
dust
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November 09, 2010, 06:06:35 PM
 #21

The homepage still says "Mt. Gox charges no fee and is free to use."  You might want to change this to avoid confusion.

The new fee could stop or severely hurt automated trading, as bots typically operate on very small returns per trade.

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November 09, 2010, 06:11:49 PM
 #22

dust: I'm sure it will slow thing down a bit. but this fee is about the same as on forex and there are tons of bots on there.

shadow: We'll see how much it ends up being. there are other ongoing costs that I have to cover also.

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November 09, 2010, 06:16:15 PM
 #23

Will my feature request be implemented or not?

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November 12, 2010, 12:17:40 AM
 #24

To whomever was saying stocks don't trade for a percentage, they definitely do trade for a percentage -- you just don't see it because you don't trade on open book exchanges.

Real stock markets do charge a fee, and pass some on to market makers who speculate on the spread. All this of course doesn't show up to you if you click buy 100 shares of amazon at 'market'.

US Equities has the smallest cost of trades worldwide, roughly 65 basis points. European exchanges for equities is 90+BP, and others go up from there.

I suggested 90 bp to the Gox master, but 65bp seems eminently reasonable.

(And, p.s. volume is down dramatically, yow! Should be an interesting few weeks -- I wonder if volume / price will trend back up.)

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November 12, 2010, 08:05:58 AM
 #25

big buyers need to step in to create a rally. otherwise price stays rangebound.

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