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Author Topic: The First EVER Trading Platform for Forex, Commodities, Stocks, Indices for BTC  (Read 388 times)
fuero2k
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October 27, 2017, 02:20:08 PM
 #1

As the title says , www.beetoom.com is the only platform that you can use BTC exclusively to fuel your trades in fiat currency pairs, commodities, stocks and indices.

If you have any comments or need more information feel free to ask me.
(the Project is still very new so some rough edges can be expected but the trade orders are fast and the trading part in general works flawlessly).
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October 27, 2017, 02:32:07 PM
 #2

It might be interesting but there is very little information or screenshots of the actual platform. There is an option to sign up for a demo account but I wouldn't really want to give my personal details to a company I've never heard of before. I think you might find that an obstacle in the crypto community as anonymity is a big factor.

Also is there any plan to add cryptocurrency trading as it looks to be just regular spread betting of FX, commodities and a few US blue chip stocks?
 

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October 27, 2017, 02:42:55 PM
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https://ibb.co/nKsPfm not really sure if the image is clear enough but that is how the platform looks like. It is CFD based and not exactly spread betting. As for the details if you read the FAQ and since bitcoin is not really regulated neither is the company ,so nobody stops you from putting your name as Donald Duck and Address Laketown 12  Grin . Jokes aside, the details of our users are protected and kept safe by the regular safety standards that most platforms provide.

Crypto trading exchanges are all over the place, so in order to remain special and unique Cheesy , we do not plan on implementing crypto-trading just yet, as FX-trading is what we know and have been doing for a long time.
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October 27, 2017, 03:11:42 PM
 #4

Thanks, yes the image is clear. The only real difference between spread betting and CFDs is the tax implications. Other than you accept BTC as a payment I don't really get what the attraction would be. If it was CFD with a decent margin on cryptocurrencies then that would be something that's not available elsewhere. When it comes to the products traded here then futures trading has so many advantages in lower costs, better execution, and regulation. In this instance being guarding against a broker that is trading directly against its clients is the main reason I stay away from CFD / spread betting firms.

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October 29, 2017, 06:05:51 PM
 #5

Spread betting also happens to be available as a tax free solution only in the UK. Since cfd and btc are international it allows for a tax free trading approach everywhere! I don't understand what you mean lower cost or execution, since the spreads we have are fixed, there are no commisions on our side and the execution time is fast. Also the part about trading against our clients does not really apply either. We cannot manipulate the market we can only make sure that our positions are hedged. If your preferences are different, regarding trading, it does not mean that the millions of people trading in forex could not get advantage of a "marriage" with btc!
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October 29, 2017, 08:40:54 PM
 #6

This is very untrue. There actually is another site out their that lets you trade stocks, forex and some other stuff and it's also fueled by bitcoin. The site is called 1broker.com but I haven't used it myself but I've heard it's legit. Personally I think it's a little bit silly to use bitcoin as a currency to invest in forex and regular stocks. But hey whatever you're into I guess. 
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October 29, 2017, 09:26:53 PM
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This is interesting but it can not be true because there is not any regulation over this.
Anyway, there are some forex websites in where you could use your bitcoins for trading, i used to use them for forex purposes when i was earning a lot of money through them.
SimpleFX, Whaleclub.. and the list goes on.. there are a lot of sites who let you operate with your bitcoins, not only this "newbie site" that doesnt have any trust at all.

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October 29, 2017, 10:29:46 PM
 #8

This is interesting but it can not be true because there is not any regulation over this.
Anyway, there are some forex websites in where you could use your bitcoins for trading, i used to use them for forex purposes when i was earning a lot of money through them.
SimpleFX, Whaleclub.. and the list goes on.. there are a lot of sites who let you operate with your bitcoins, not only this "newbie site" that doesnt have any trust at all.

I have been trading on Simplefx for some time, they are good and they spread fee is very low, but whaleclub is the worst forex broker that i have ever used, they fees are more than 0.0001 bitcoin per transaction, and 0.0003 if you let that operation opened for more than a day, it is more than $3 just for keeping a trade opened.
but simplefx is the best one talking about forex brokers, and you have a trollbox in where you can talk to other traders.
fuero2k
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October 31, 2017, 02:28:36 PM
 #9

This is interesting but it can not be true because there is not any regulation over this.
Anyway, there are some forex websites in where you could use your bitcoins for trading, i used to use them for forex purposes when i was earning a lot of money through them.
SimpleFX, Whaleclub.. and the list goes on.. there are a lot of sites who let you operate with your bitcoins, not only this "newbie site" that doesnt have any trust at all.


Bitcoin has no real regulation but it is true, so I do not get your point. And being a new company and a new website does not mean we are newbies, as our member and founders have more than 7 years of experience in the forex market. The instrument variety is much larger than the sites mentioned and there are no fees for transactions besides the spreads .There is also a social aspect on our website with members chat, members analyses on different assets, news etc.

The point is that people can trade to make more Bitcoin by using the Bitcoin they already have so we offer a Forex solution to do exactly that.
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October 31, 2017, 02:38:11 PM
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so i made a demo in beetoom's platform, the platform its self is very user friendly and easy on the eyes, alot of information is offered about other traders, platform technical/details and they have this social profile to it, which kind of makes it like Facebook. the execution time is 50ms which is good compared to most platofrms.it offers a decent amount of instruments, and as far as user experience is it good, they should offer more crypto pairs to trade. and accept different cryptos as fuel. and to the person talking about 1broker, i made an account with them but they dont offer as many instruments as i expected, i would pref if they offered atleast a couple thousand instruments to be able to have a choice in what you're looking for to trade. The idea is def interesting but needs more refining. Tidex is also a platform that offers cyrpto pairs and some fiat pairs with commodities too. So in conclusion the platform is nice to use(fast self explanatory and easy to use), they do offer a variety of instruments compared to other brokers/companies in this sector, i suspect they would obv add more instruments/cryptos in the future but all in all interesting idea Smiley
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November 02, 2017, 10:54:48 AM
 #11

Spread betting also happens to be available as a tax free solution only in the UK. Since cfd and btc are international it allows for a tax free trading approach everywhere!

Actually, if your customers don't declare their earnings that is tax evasion and can lead to imprisonment.

I don't understand what you mean lower cost or execution[/b], since the spreads we have are fixed, there are no commisions on our side and the execution time is fast.

Your commission is the spread. For example, for the S&P 500 you have a contract multiplier of x50 which is the same as the Emini S&P 500 on CME. You have a minimum price increment of 0.01 and a spread of 100 making 1.00 points or a cost of $50 for equivalent size as the futures. I pay less than $4 round turn to trade the futures and with a minimum price increment of 0.25 (value $12.50) I can be out with a profit on one tick while trading with you I would still be $37.50 down.

Your execution time is fast claim is one thing, but I'm yet to see anything on any CFD/Spread betting platform that comes remotely close to trading on a platform like Trading Technologies or Jigsaw/Rithmic in terms of speed or ease of use.

Also the part about trading against our clients does not really apply either. We cannot manipulate the market we can only make sure that our positions are hedged. If your preferences are different, regarding trading, it does not mean that the millions of people trading in forex could not get advantage of a "marriage" with btc!

Well, we hope it doesn't apply but with no regulator to oversee it, we only have your word.

I'm sure you will find many forex traders that will love your service but the news I have been waiting for just came out. CME Group Inc. has announced it will introduce trading in bitcoin futures by the end of the year.

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November 02, 2017, 11:05:30 AM
 #12

I've got some questions:
1. How anonymos is it? Do you need to share private data?
2. What about legal aspect? Is it totally legal the way it works?
3. Do we have access to all stocks from traditional stocks?
4. Can you trade minerals like gold, silver, plats etc?

Thank you in advence!
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November 06, 2017, 07:34:06 AM
 #13

1) There is no need to share anything you do not want to.
2) Bitcoin , cfd's and having a registered company are all totally legal , so yes it is legal.
3) You can make a demo account to check out which stocks are available on the platform. Big names like Amazon Google etc are of course there.
4) Yes and other commodities including oil, natural gas and of course bitcoin.
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November 06, 2017, 06:48:19 PM
 #14

iam first youre broker
if support forex broker why not use MT4 or MT4
iam prefer use simplefx, trusted, support MT4, and very long time open service and without problem
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November 07, 2017, 01:44:23 AM
 #15

the only platform that you can use BTC exclusively to fuel your trades in fiat currency pairs, commodities, stocks and indices.
So can you pls explain how it works? There is already a bunch of forex brokers that trade BTC / USD pairs (and I belive ssome other cryptos like LTC too). So if I get it right then your platform either exchange BTC to fiat for trading or trade bitcoin directly to commodities / stocks. Both options are pretty unclear to me at that moment, maybe there is also another options that I haven't noticed.

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November 07, 2017, 10:35:41 AM
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the only platform that you can use BTC exclusively to fuel your trades in fiat currency pairs, commodities, stocks and indices.
So can you pls explain how it works? There is already a bunch of forex brokers that trade BTC / USD pairs (and I belive ssome other cryptos like LTC too). So if I get it right then your platform either exchange BTC to fiat for trading or trade bitcoin directly to commodities / stocks. Both options are pretty unclear to me at that moment, maybe there is also another options that I haven't noticed.

Our platform accepts your deposit/balance exclusively in bitcoin( no fiat currency or other cryptos) and everything from values,spreads etc is denominated in BTC. Profit of course is in BTC as well! Regarding MT4 platform I am not aware of a version or if it can be coded to accept balance and values exclusively in Bitcoin and that is the reason it is not supported in our platform.
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January 31, 2018, 08:59:36 AM
 #17

I've got some questions:
1. How anonymos is it? Do you need to share private data?
2. What about legal aspect? Is it totally legal the way it works?
3. Do we have access to all stocks from traditional stocks?
4. Can you trade minerals like gold, silver, plats etc?

Thank you in advence!

Some answers:

1. You do not need to send any doc. (no KYC), you just need an e-mail and a nickname.
2. It is legal but unregulated, the idea is that since BTC is not consider a financial instrument, also the instruments traded and the whole system is unregulated. But legal.
3. All the major stocks in US and many from Europe are available.
4. Gold, Silver, Oil, cereals are available. Basically all the major commodities.

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January 31, 2018, 09:12:44 AM
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the only platform that you can use BTC exclusively to fuel your trades in fiat currency pairs, commodities, stocks and indices.
So can you pls explain how it works? There is already a bunch of forex brokers that trade BTC / USD pairs (and I belive ssome other cryptos like LTC too). So if I get it right then your platform either exchange BTC to fiat for trading or trade bitcoin directly to commodities / stocks. Both options are pretty unclear to me at that moment, maybe there is also another options that I haven't noticed.

So you basically are able only to deposit/wd BTC. Thank in the platform you have derivative instruments CFD-like (Stocks, FX, Commodities) that you can trade. Your balance, trades, profits/loss are all in BTC, even the prices you can select them in BTC denomination. So instead of using FIAT C. to trade like a $1k account trading Stocks making/losing x$ here u do the same but you either win or lose BTC, depending on the results of your trades.
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January 31, 2018, 09:55:56 AM
 #19

As I know, brokers are offering the Bitcoin as an instrument on their trading platform, so you basically trade on BTC as a derivative instrument, but with fiat currency (usd / eur).  On the other hand, the beetoom.com website, they accept BTC as payment, you actually trade in bitcoin. Have anybody tried it so far? not on demo, on real account?
I've made some profits on buying and selling BTC and ETH, so I would like to try something more than this - like trading with it, but I'd like to have an opinion about it.
thks! Smiley
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