Trading with Bitcoin

[flix]

I'm very much looking forward to being able to trade FX, equities and commodities with Bitcoin and especially to having brokerage accounts that allow me to deposit and cash out in BTC. There isn't much out there yet, although I have high hopes for TorBroker and others.

So I wanted to start this thread to discuss some of the already existing services and share my experiences as I try out some of the ones already out there, as well as any new ones that might launch soon.

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[flix]

The objective is to find a professional brokerage that will allow aspiring and experienced traders to make a living trading, while remaining in control of their funds and bypassing the traditional banking system. The absolute ideal would be the combination of

1. A pro-level brokerage like https://www.interactivebrokers.com or http://www.saxobank.com/ that allow you to trade a full range of financial products, use leverage and provide real time market data and order placement, charts, etc

...with...

2. The ability to instantly deposit and withdraw in BTC, giving you the control over your own money that bitcoiners are used to.

...and for bonus points...

3. The ability to trade bitcoins for other currencies as easily as with https://www.mtgox.com/ or https://www.bitstamp.net/


So I'll attempt to rate all services that I try out on a 1-10 scale for the above 3 characteristics.

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So far I can see here (https://en.bitcoin.it/wiki/Trade#Financial), the following:

*FNIB, professional level forex trading in USD, EUR and other currencies. Account opening and settlement in BTC.
*LiteForex, deposit and withdraw bitcoins to your LiteForex account.
*1Broker Advanced forex and CFD trading. Bitcoin denominated account only.
*Bit4X Trade Forex market (including Gold and Silver) with Bitcoin denominated MetaTrader account (no fiat conversion)
*ICBIT (info), Use bitcoins to buy and sell futures contracts for Gold, Crude (WTI), and the BTC/USD
*TorBroker, a gateway for Bitcoin users to the stock markets of the mainstream world.DOWN

º	Web	Broker Score	BTC deposit/withdraw score	BTC trading score
1	https://1broker.com/	6	10	1
2	https://icbit.se/	4	9	7
3	http://www.firstnationalib.com/	-	-	-
4	https://www.bitfinex.com/	-	-	-
5	http://www.bit4x.com/	-	-	-
6	https://www.kraken.com/	2	9	8
7	https://forex-metal.com/	-	-	-
8	http://www.plus500.com/	-	-	-
9	https://xcfd.com/	-	0	-
10	http://torbrokerge7zxgq.onion/	3	6	1

[flix]

Update: TorBroker IS OFFLINE
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I'm going to start off reviewing TorBroker, just because I like the whole "Silk Road of brokers" vibe. I'll be testing it over the next few days, will try to do a few trades and report back to you here.

You can check out some articles on TorBroker here:
http://bitcoinmagazine.com/torbroker-anonymous-finance-and-trust/
http://www.thebitcointrader.com/2013/04/torbroker-silk-road-of-stock-brokers.html

..and you can see the endless discussion over whether they are going to run away with your funds here at their official thread, here:
https://bitcointalk.org/index.php?topic=159237.0

So far not too impressed with TorBroker, although the site owners claim to be working on substantial improvements and if and when they are implemented, I will update my review and their score.

Broker Score: 2
Only US equities available, no real time prices or orders, no leverage, no charts.

BTC deposit/withdraw score: 6
Depositing funds was fast, they appeared as "incoming" within seconds of being sent and were in my balance from 1 confirmation. Withdrawal made, funds arrived within hours. Not instant, but pretty fast. Small withdrawal fee.

BTC trading score: 1
No BTC trading available yet.


...I will redo this review in a month or two to take into account any improvements/new features.




Simple interface. Real time and charts via Google Finance. Order input clunky. No real time orders.

[flix]

Next up: https://1broker.com/     

https://1broker.com/m/r.php?i=886  (click on the referral link if you are feeling generous...)

I intend to test it all intensively over the next week.
Here's the official thread: https://bitcointalk.org/index.php?topic=123492.0


Broker Score: 6
Decent, but limited selection of FX/commodities/Equities. Good spreads. Good leverage (x20 commodities, x200 FX, x5 BTC). Prices with 1 min delay. Transparent and low commissions.

BTC deposit/withdraw score: 10
Both deposit and withdrawal are extremely fast. Bitcoins go in, bitcoins come out on demand. Small withdrawal fee (BTC0.005).

BTC trading score: 6
Offers x5 leverage for Bitcoin trading. Bid-Ask approx 0.7 $ ...but you can only withdraw in BTC, so it is good for trading but not for simple exchange.


Very nice BTC/USD trading platform.


Decent selection of FX currency pairs. Decent spreads.


A small selection of tradeable equities

[flix]

Now trying out https://icbit.se

Main thread here:  https://bitcointalk.org/index.php?topic=60548.0



Broker Score: 4
Very few instruments so far. Mostly Bitcoins, LTC and S&P500.

BTC deposit/withdraw score: 9
BTC in (wait for a few confirmations), BTC out instantly.

BTC trading score: 7
A lot of options, a complete order book, several bitcoin futures.

[flix]

It would sure be nice to have oil (WTI/Brent) as a tradeable product on one of these brokers... I've been doing some gold trading these days, mostly on 1Broker... but more FX and commodity products would be very welcome.

[Stephen Gornick]

It would sure be nice to have oil (WTI/Brent) as a tradeable product on one of these brokers...

ICBit had it at one time.
 - https://icbit.se/CLG3

There were few contracts traded so after expiration no new contract issue was offered.   The spread was regularly pretty wide but due to volatility there were times when using that contract as a hedge against crude was affordable.

[b!z]

Tor Broker doesn't look very safe. They can run away with your BTC any time and they will probably never get caught.

[TorBroker]

Broker Score: 2
Only US equities available, no real time prices or orders, no leverage, no charts.

Hi flix

We've recently added more than 350 ADRs representing international stocks. We expect to add hundreds more this or next week. Leverage is also in the pipes.

[flix]

Broker Score: 2
Only US equities available, no real time prices or orders, no leverage, no charts.

Hi flix

We've recently added more than 350 ADRs representing international stocks. We expect to add hundreds more this or next week. Leverage is also in the pipes.

Great. Will check today and revise score accordingly.

[joesmoe2012]

     This seems like a horrible idea, especially for lon term investments...If they ever have any issues they can just disappear.     

[RodeoX]

I appreciate all the homework! There are so many new options popping up now that it is hard to keep track. 

[flix]

Here are some things that we have been doing last month in equities... and that when they start offering real-time orders and leverage, we will probably do through TorBroker. Unfortunately, it's not there yet.

http://rockflowertrading.blogspot.com.es/2013/09/equity-swing-trading-strategy.html


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[flix]

I haven't forgotten about the broker reviews, although I've been pretty busy, I'll try to do http://www.liteforex.com/ next week.

[MoneyGod]

good work you done very informative and hard work keep this up for all and yourself

[LeRoy]

Forex-Metal accepts Bitcoin for trading.

[flix]

Forex-Metal accepts Bitcoin for trading.

https://forex-metal.com/

I'll take a look.

[smoothie]

I'm very much looking forward to being able to trade FX, equities and commodities with Bitcoin and especially to having brokerage accounts that allow me to deposit and cash out in BTC. There isn't much out there yet, although I have high hopes for TorBroker and others.

So I wanted to start this thread to discuss some of the already existing services and share my experiences as I try out some of the ones already out there, as well as any new ones that might launch soon.

This is a nice representation of the major bitcoin businesses to date.

Whovever created this. Nice job!

[spurs32]

that first picture is really helpful thanks for posting that

[compcentral]

MCXnow.com is a major player that is missing in this roundup.