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jackmaninov (OP)
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February 18, 2014, 09:56:04 PM |
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Hey guys,
I had a weird issue with BTC.sx today. I was watching a long position go up and down in a background window, and I come back and it's gone. Checked the trade history, and it had been marked as Liquidated: user. The price hadn't hit either the stop or limit price (nowhere close), I have more BTC in my wallet than the deposit on the position, and now I'm stumped. Now their buy limit has been reached and I can't open any new long positions.
Did I get screwed? Their FAQ isn't very clear under what circumstances they may force a liquidation...
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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ledmaniak
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February 18, 2014, 10:26:19 PM |
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There are some very weird things happening at BTC.sx.. They are in the same building as mtgox, maybe that explains...
I heard lot of positions were liquidated due to price manipulation today and yesterday. You also couldn't open an position on btc.sx for the past days but shorting was possible 5 minutes ago. I tried a dozen of times to open a position but every time it says: "Your request could not be completed.".
Smells more fishy by the day...
Are the owners of the website active on bitcointalk? Never saw a response on twitter or this website or anywhere else from one of them(only a sales pitch).
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Bitcoin: 1Cxi8BLvScSm1mW6kjb5MNeJZPrvAiYL6B
Litecoin: LLmjtrrq1ZeD51NSUJ8VanuQduW8Ma3jrs
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hugoooo
Newbie
 Offline
Activity: 22
Merit: 0
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February 18, 2014, 10:52:40 PM |
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Hey guys,
I had a weird issue with BTC.sx today. I was watching a long position go up and down in a background window, and I come back and it's gone. Checked the trade history, and it had been marked as Liquidated: user. The price hadn't hit either the stop or limit price (nowhere close), I have more BTC in my wallet than the deposit on the position, and now I'm stumped. Now their buy limit has been reached and I can't open any new long positions.
Did I get screwed? Their FAQ isn't very clear under what circumstances they may force a liquidation...
Same thing happened to me. I had three long positions closed (at $80-$100 above my stop prices), also marked as liquidated by user. So now I'm out the cost of funding the positions for 3 days as well as the 0.5 BTC my trades "lost" (though they would be profitable as of 5 minutes ago). Just sent support an email, very curious/anxious to see how/if they respond. Their FAQ isn't very clear about circumstances for forced liquidation, but this would not seem to be one of them -- and if it were, our trades would definitely not be marked as user liquidated. Judging by their facebook page we're not the only ones having issues today. |
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thest0ckman
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February 18, 2014, 11:08:37 PM |
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i was able to empty my account, they sent my last withdrawal to me this morning.
they are not answering my support ticket.
with what you guys are saying i dont think ill use them if they are liquidating like that.
DID YOU KNOW YOU CAN NOW TRADE STOCKS, METALS & FOREX WITH BITCOIN? IT IS FINALLY HERE! CHECK MY SIGNATURE LINK!
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jackmaninov (OP)
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February 18, 2014, 11:15:47 PM |
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Hey guys,
I had a weird issue with BTC.sx today. I was watching a long position go up and down in a background window, and I come back and it's gone. Checked the trade history, and it had been marked as Liquidated: user. The price hadn't hit either the stop or limit price (nowhere close), I have more BTC in my wallet than the deposit on the position, and now I'm stumped. Now their buy limit has been reached and I can't open any new long positions.
Did I get screwed? Their FAQ isn't very clear under what circumstances they may force a liquidation...
Same thing happened to me. I had three long positions closed (at $80-$100 above my stop prices), also marked as liquidated by user. So now I'm out the cost of funding the positions for 3 days as well as the 0.5 BTC my trades "lost" (though they would be profitable as of 5 minutes ago). Just sent support an email, very curious/anxious to see how/if they respond. Their FAQ isn't very clear about circumstances for forced liquidation, but this would not seem to be one of them -- and if it were, our trades would definitely not be marked as user liquidated. Judging by their facebook page we're not the only ones having issues today. Ok, nice to know that I'm (probably) not crazy and accidentally liquidated. I've submitted a support email so we'll see what they say. |
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fonzie
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February 18, 2014, 11:24:42 PM |
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"They are in the same building as mtgox, maybe that explains..."
LOlololololololololololololol
Is this true?
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"To know death, Otto, you have to fuck life in the gallbladder" www.hsbc.com - The world´s local bank "These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi |
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hugoooo
Newbie
Offline
Activity: 22
Merit: 0
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February 19, 2014, 07:43:11 PM |
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Hey guys,
I had a weird issue with BTC.sx today. I was watching a long position go up and down in a background window, and I come back and it's gone. Checked the trade history, and it had been marked as Liquidated: user. The price hadn't hit either the stop or limit price (nowhere close), I have more BTC in my wallet than the deposit on the position, and now I'm stumped. Now their buy limit has been reached and I can't open any new long positions.
Did I get screwed? Their FAQ isn't very clear under what circumstances they may force a liquidation...
Have you heard anything from support? The lack of any info whatsoever from them is getting pretty frustrating. |
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jackmaninov (OP)
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February 19, 2014, 07:55:24 PM |
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Hey guys,
I had a weird issue with BTC.sx today. I was watching a long position go up and down in a background window, and I come back and it's gone. Checked the trade history, and it had been marked as Liquidated: user. The price hadn't hit either the stop or limit price (nowhere close), I have more BTC in my wallet than the deposit on the position, and now I'm stumped. Now their buy limit has been reached and I can't open any new long positions.
Did I get screwed? Their FAQ isn't very clear under what circumstances they may force a liquidation...
Have you heard anything from support? The lack of any info whatsoever from them is getting pretty frustrating. Nope. The withdraw I made also hasn't been received yet, though it was removed from my BTC.sx wallet immediately. |
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thest0ckman
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February 19, 2014, 08:24:32 PM |
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Have you heard anything from support? The lack of any info whatsoever from them is getting pretty frustrating.
[/quote]
i got all my money out and they did reply within 24 hours. in all fairness i made money with them.
when the buttons are on again ill deposit and trade with them again
here is their response
Thank you for your email. Our site allows leveraged trading from a private trading reserve. During busy periods, the trading reserves max out site-wide. This means that all available leveraged funds are wired into trades and will only be made available once older orders are liquidated.
Hope this helps.
Regards
Joe
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jackmaninov (OP)
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February 20, 2014, 08:14:05 AM |
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Hey guys,
I had a weird issue with BTC.sx today. I was watching a long position go up and down in a background window, and I come back and it's gone. Checked the trade history, and it had been marked as Liquidated: user. The price hadn't hit either the stop or limit price (nowhere close), I have more BTC in my wallet than the deposit on the position, and now I'm stumped. Now their buy limit has been reached and I can't open any new long positions.
Did I get screwed? Their FAQ isn't very clear under what circumstances they may force a liquidation...
Have you heard anything from support? The lack of any info whatsoever from them is getting pretty frustrating. Nope. The withdraw I made also hasn't been received yet, though it was removed from my BTC.sx wallet immediately. Just got an update from their support: A number of accounts including yours are currently suspended pending further investigation. Any information you can send us in regards to your trading actions may help in assisting us in a timely resolve. Thank you for your patience. |
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larin
Newbie
Offline
Activity: 14
Merit: 0
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February 20, 2014, 01:01:55 PM |
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I withdrawed some of my funds to another btc.sx acc 17 feb, rest of them to btc-e.com 18 feb, I'm still awaiting that withdrawals. Today i got an email:
Your accounts have been suspended by our staff because of activities we have detected in your placed trades that have been classified as exploitation. Thank you for your patience while we investigate these further.
Until we have resolved all account activities across each of your logins, all bitcoin in each account including withdrawals will be placed on hold.
Regards
Joe.
Placing trades is an exploitating right now. I've also got blocked on their facebook, their CTO blocked me as well. So much ignore.
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jackmaninov (OP)
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February 24, 2014, 08:45:19 AM |
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Still waiting on a withdrawal from the 18th...  |
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thest0ckman
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February 24, 2014, 02:50:32 PM |
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how could they just put you under investigation. isnt it just cut and dry?
this is very shady imo. glad i got my money out.
A 20 POINT STOP LOSS IS A JOKE ON BITCOIN. STOPLOSS WAS MUCH LARGER. LOOKS LIKE THEY ARE A TRUE BUCKET SHOP NOW WITH SUCH A SMALL STOP LOSS VARIABLE.
STAY AWAY UNTIL THIS GUY GETS HIS MONEY OUT AND THE STOP LOSS GETS BACK TO AROUND 80-100 PTS.
did you know you can now trade stocks, precious metals & forex currency pairs with bitcoin? it is finally here! check out my sig for details
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jackmaninov (OP)
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August 21, 2014, 09:16:48 PM |
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Forgot to post the resolution to this issue. Joe stopped ignoring my contact requests once I filed a ticket with their new support system. In summary: Basically I had been allowed to open a position without the necessary deposit (note that at the time the deposit formula was a black box, IIRC). At the time, I was trying to set a very low stop price during wild Mt. Gox volatility, and assumed that my position was being opened appropriately (I was testing the system, it was my 2nd or 3rd trade). After the apparently improper position was noticed, it was disappeared (system claimed I had liquidated it when I hadn't) and a withdrawal that I made was never received. The real kicker: "In line with our terms and conditions, we suspended the withdrawal from your account to recoup some of the operating losses made in this trade." I'm not quite sure where in their terms they think it says this... And I should send an ID to unsuspend my account (why I would want to is beyond me...) A sanitized copy of my support ticket's reply is below: Hi there Jackmaninov,
First of all, thank you for your patience. I apologise for the delay in getting back to you as we have had to asses each an every account suspension on a case by case basis.
Suspensions were made to accounts where a stop price was set that far exceeded the deposit placed for each position opened. Our trading engine places trades out to market with up to 10 times the deposit placed of private funding. As a result we work hard to ensure that each trade placed fits within a strict criteria. Back in early February, due to large market movements, a number of traders placed trades with huge stops far exceeding what would have been covered by a typical deposit. Your last position was one of these.
In part, a Btc.sx enforced limit did not reject this trade as it should have but instead placed it out to market without requiring a larger deposit. As the market moved against this position, losses far exceeded the initial deposit of XXXXXXXX BTC, upon detection by our staff and subsequent close, the position as its final price of $XXX.XXXXX logged a loss of -XXXXXXXX BTC.
If the position had been left to run to your specified stop of $XXX. Your losses would have been far more. Typically, in line with customer expectations we do not aim to ever put a customer in a position whereby they will lose more then their initial deposit for each position. Where the losses are greater, within reason, Btc.sx will cover client position gap losses. If losses far exceed what we can cover, as in your trades case, we reserve the right to reclaim funds that are lost to market.
After these trades were detected, a number of accounts were automatically suspended pending further investigations of potential exploitative behaviour. As there was only one trade which posted a loss to Btc.sx on your account, we acknowledge that your activity was not due to exploitation. In line with our terms and conditions, we suspended the withdrawal from your account to recoup some of the operating losses made in this trade.
If you feel as if this was unfair, please reach out to me directly.
My skype is: XXXXXXXX
The subsequent verification of personal details (Drivers Licence or Passport), we would be happy to re-open your account.
Kind regards
Joe Lee
CEO, Btc.sx
TL;DR: Don't trade with BTC.sx. |
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