Trading with Bitcoin

[dontCAREhair]

Btc.sx is an FX style trading platform that we run. It runs from a broker model and executes orders out to market via BitStamp for settlement. It allows leveraged trading without the complexity of margin trading and the management of margin.

It sounds a lot like you are just using the bitstamp API to send orders to bitstamp. Why couldn't your customers work directly with bitstamp?

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[tradaplaya]

The only problem i see with using these Fx brokers for bitcoin, is the spread is outrageous! I find you are better off using BTC-e with the MT4 client for serious trading.

Now if you know of another exchange that allows trading using the MT4 client and allows shorts, please let me know.

[capoeira]

Now if you know of another exchange that allows trading using the MT4 client and allows shorts, please let me know.

FxOpen....it's actualy the provider for BTC-E's MT4 and liquidity: https://www.fxopen.com/News.aspx?Id=8d12a6d7-c216-431c-8a06-93aa689a1bc8&agent=836159

[Tombakoga]

Is there like a forex version except you deposit in bitcoin

you can get profit for that?

[Seal]

Btc.sx is an FX style trading platform that we run. It runs from a broker model and executes orders out to market via BitStamp for settlement. It allows leveraged trading without the complexity of margin trading and the management of margin.

It sounds a lot like you are just using the bitstamp API to send orders to bitstamp. Why couldn't your customers work directly with bitstamp?

Thats pretty much what we do. The main offering over sending customers directly to bitstamp is leverage. Second of all we allow people to go Long with bitcoin instead of requiring USD (and the associated delay and hassle of getting it onto the exchange)

[capoeira]

Is there like a forex version except you deposit in bitcoin

you can get profit for that?

I don't understand, both the questions

[tradaplaya]

Now if you know of another exchange that allows trading using the MT4 client and allows shorts, please let me know.

FxOpen....it's actualy the provider for BTC-E's MT4 and liquidity: https://www.fxopen.com/News.aspx?Id=8d12a6d7-c216-431c-8a06-93aa689a1bc8&agent=836159

what are the spreads like at FXOpen? for bitcoin

[capoeira]

Now if you know of another exchange that allows trading using the MT4 client and allows shorts, please let me know.

FxOpen....it's actualy the provider for BTC-E's MT4 and liquidity: https://www.fxopen.com/News.aspx?Id=8d12a6d7-c216-431c-8a06-93aa689a1bc8&agent=836159

what are the spreads like at FXOpen? for bitcoin

it is 100% the same as MT4 from BTC-E...it's even the same server...It is not a CFD. You trade on BTC-E

[flix]

https://www.darwinex.com/

..they don't take Bitcoin (yet) but they have a very interesting feature:
https://www.darwinex.com/en/leaderboard

They rank traders according to performance and give a public record of their profitability. Also allowing investors to replicate the strategy of successful and consistent traders and paying these traders a % of the profits of those copycat investors...

[capoeira]

https://www.darwinex.com/

..they don't take Bitcoin (yet) but they have a very interesting feature:
https://www.darwinex.com/en/leaderboard

They rank traders according to performance and give a public record of their profitability. Also allowing investors to replicate the strategy of successful and consistent traders and paying these traders a % of the profits of those copycat investors...

that's not actualy ontopic isn't it? or did they make any declaration regarding Bitcoin deposits?

[flix]

or did they make any declaration regarding Bitcoin deposits?

Now they have!
https://twitter.com/Darwinexchange

[flix]

The point is that we still don't have what this thread started looking for:

1. A pro-level brokerage  2. The ability to instantly deposit and withdraw in BTC  3. The ability to trade bitcoins.

...and it seems like the way to get it is to nudge those platforms which offer at least 1 of those features towards accepting the rest.

That means either asking the Bitcoin exchanges to add other trading options (unlikely- I don't see Kraken or Bitstamp offering leveraged EURUSD trading anytime in the future) OR asking the existing brokerage platforms to accept Bitcoin deposits/withdrawals... but Saxo or IB are too large to listen... however a start-up might be more reactive... somebody like Darwinex might be very open to accepting Bitcoin.

A corporate agreement between Darwinex <-> BTCJam would be amazing for traders. One rates trading strategies, the other rates creditworthiness... the combination would be a perfect springboard for newbie traders to demonstrate a track record and at the same time obtain financing.

Another option would be for 1broker.com to add more options as they have been promising to do for so long... They recently increased limits:  https://1broker.com/?c=blog&id=16

But they are still a long way from offering a wide range of options for stocks, currencies or commodities.

[capoeira]

The point is that we still don't have what this thread started looking for:

1. A pro-level brokerage  2. The ability to instantly deposit and withdraw in BTC  3. The ability to trade bitcoins.

actualy Fxopen atends all 3, the problem is the big spread on BTC deposits/withdraws. but they have crypto dominated account, which eliminates this problem. but you can't thrade forex on them

or did they make any declaration regarding Bitcoin deposits?

Now they have!
https://twitter.com/Darwinexchange

couldn't find nothing beside your post

[flix]

https://www.fxopen.com/ looks promising, but last back in July when I registered and tried them out a bit they seemed extremely clunky and made me jump through a lot of hoops. I guess I'll have to take a closer look.

Especially at this:
https://support.fxopen.com/Knowledgebase/Article/View/694/714/deposits-via-bitcoin
https://support.fxopen.com/Knowledgebase/Article/View/696/718/withdrawals-via-bitcoin



https://1broker.com/ in contrast lets you register in under a minute, so for small amounts it's great... but obviously very limited.

[flix]

It seems that FXOpen waits 7 confirmations for BTC deposits (ok, I can live with that) but takes up to 24hrs for withdrawals... which seems to indicate that there is manual approval.

Since becoming used to automatic, user-controlled BTC withdrawals (eg: Kraken, localbitcoins, Bitstamp, 1broker...) it becomes a lot harder to accept that you have to ask permission to get your money....

I guess it's still a lot better than making SWIFT or SEPA wires as in the old days...


Oh, yes forgot to mention this:

Adding Funds via Bitcoin

Please note, BTC will be converted to USD using exchange rate BTC/USD - 332.91/368.797

That's pretty ridiculous... 10%+ spread. I suppose that is what you meant..

[capoeira]

It seems that FXOpen waits 7 confirmations for BTC deposits (ok, I can live with that) but takes up to 24hrs for withdrawals... which seems to indicate that there is manual approval.

Since becoming used to automatic, user-controlled BTC withdrawals (eg: Kraken, localbitcoins, Bitstamp, 1broker...) it becomes a lot harder to accept that you have to ask permission to get your money....

I guess it's still a lot better than making SWIFT or SEPA wires as in the old days...


Oh, yes forgot to mention this:

Adding Funds via Bitcoin

Please note, BTC will be converted to USD using exchange rate BTC/USD - 332.91/368.797

That's pretty ridiculous... 10%+ spread. I suppose that is what you meant..

yes, withdawls can take some time, since they have a reputation to lose. once they even called me to confirm withdrawl.

registration process is standard for Forex brokers.

yea, the spread for the conversion is inaceptable. but as I said, you don't have to convert. they have crypto-accounts

[Elijah5692]

Well you're in luck because there is an event that I'm going to at the NYC Bitcoin Center that will be helping us learn how to trade and swap exposures using bitcoin.

I believe they will be holding this event on October 30th at 5:30 pm. BTC

Contact me and I can share the page that I found this information on

[Panxora_COO]

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[flix]

Now that Neteller takes Bitcoin... there-s a bunch of forex platforms that take neteller as a funding option which are now just one step away from Bitcoin funding...
http://www.coindesk.com/neteller-bitcoin-deposit-policy-reversal/

[capoeira]

Now that Neteller takes Bitcoin... there-s a bunch of forex platforms that take neteller as a funding option which are now just one step away from Bitcoin funding...
http://www.coindesk.com/neteller-bitcoin-deposit-policy-reversal/

wow nice. but no option to sell Neteller for BTC?