CFD trading mt gox market

[Belcantor]

I was just wondering why people aren't all over CFD trading at the mt gox market right now?

It was a goldmine these last few days when plus500 offered CFDs at mt gox prices... I multiplied my initial investment x10 the last four days, but now plus500 has dropped mt gox and I can't seem to find anywhere else to trade mt gox CFDs. I am desperately trying to find somewhere else to do this as I'm watching that deliciously floppy mt gox curve going up and down while I'm missing out on some serious cash.

Can anyone shed some light on this?

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[brid]

I did the same for a short while on friday - the wild swings were amazing. I made significantly less than you - 10% profit over a few hours as a protective stop kicked in a touch too early on one of my trades meaning i made 10 times less than i would have if that had not been closed.

Nail biting stuff though. Was getting in at 400 and out around 420 with a pretty aggressive leverage. Must say looking at the 200-300 range right now looks pretty juicy for the daily swing up to 300-400.

What kind of trades were you doing?

[Belcantor]

Yeah, it's a pain watching it go up and down and have nowhere to profit from it... The leverage I was using was 1:10 and I was shorting a lot of the time so there was a lot of adrenaline going waiting for the drops to happen!

I could have done a lot better actually as there was a bunch of sweet curves I missed... I still remember some of those sweet curves though...

Can't say exactly what the prices were when I was going in and out, but it was like you said in the 400-420 typically. The total drop has been in the hundreds and with a leverage of 1:10 it has had a lot of money in it.

Do you happen to know where to continue that wild ride? I assume you were using plus500 as well? I contacted them and they seem to have no plans of going back to mt gox...

EDIT: I didn't multiply the value of a single position 10x. I just realized it might've sounded like I did. What happened was that I did plenty of transactions, both short and buy, but mostly short. When they closed mt gox for trading I had 10x my initial account balance.

[brid]

Yep, same as you - Plus 500

The feeds came back off and on a few times over the weekend but it looks like they are gone for good. I did some reading and they can't offer anything they can't easily get on the other side of the trade for, to arbitrage whatever people are trading on. Makes sense really as there is no way to buy or sell anything underlying for an exchange which is essentially shut.

Anyone still offering (I don't know any) is exposing themselves to massive risk, so i'd expect it to be pretty short lived.

Give me a shout if the situation changes. I wouldn't mind one of those 10x returns that you got - I have bills to be paid haha

[Shenol]

I red plus500 are scammers. If you tty to get your money they close your account citing you have broken the agreement and you don't get your money. Have anyone managed to get more money than they have sent to plus500 back?
Shenol

[aschk]

I think btc.sx provide a CFD product or something similar, it's the only ting they do.

[brid]

I red plus500 are scammers. If you tty to get your money they close your account citing you have broken the agreement and you don't get your money. Have anyone managed to get more money than they have sent to plus500 back?
Shenol

Interesting that you say that is that I'm still waiting four days later to get my 'profit' withdrawal, after they returned my deposit amount which was done via paypal and using a credit card. So my initial stake is back in my hands, but not the results of my few trades.

I've been patient about it, and it's not a significant amount (200 bucks) but I've said to them I find it weird that withdrawals are processed with such delays, and come in 'parts'.

[Belcantor]

I can definitely confirm issues with withdrawals. They cancelled the biggest of two transfers, the small one went through. Trying another small one today.

Remember not to be rude or difficult with customer support!

I'll be posting any profitable sources in this thread. Checking out btc.sx now, thanks aschk!

EDIT: Looks like btc.sx is exactly what I was looking for! They operate with a leverage of 1:10 like plus500. Might be a total scam, of course.

[Hodor_keeper_of_the_light]

I can definitely confirm issues with withdrawals. They cancelled the biggest of two transfers, the small one went through. Trying another small one today.

Remember not to be rude or difficult with customer support!

I'll be posting any profitable sources in this thread. Checking out btc.sx now, thanks aschk!

EDIT: Looks like btc.sx is exactly what I was looking for! They operate with a leverage of 1:10 like plus500. Might be a total scam, of course.

LOL. It is a scam.
Check: https://bitcointalk.org/index.php?topic=524429

Well, I don't know how not to be rude with btc.sx support when they have stolen my money and keep ignoring me.