From what i understand, ibitcointrade.com works similar to bitquick.in but the difference being, there is no need to deposit first to place a buy/sell order and also there is a possibility to place a buy order as well instead of just sell orders ?
According to me, you earn more through penalties than transaction fee due to volatility on bitcoins ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
1) Yes it is possible to quote prices for both buy and sell orders.
2) As you said there is no need to deposit money/coins with us before hand. However this does not affect the time taken to close a transaction by a great deal. Every user is sent our bank details after he signs up so that he can add us to his payee list. As soon as a counter party is found, the buyer is sent a notification to deposit the money in our bank account and send us the e-receipt. After this the seller is asked to deposit the coins directly to the buyer's wallet. We confirm the transaction and release the payment to the seller. You will have a better picture once our clients post some testimonials.
3)"
According to me, you earn more through penalties than transaction fee due to volatility on bitcoins"
I am not sure whether to take the above statement with a pinch of salt or feel offended.
Firstly, every penalty will be imposed keeping in mind the recent price movements.
Secondly, that is a trade off that people make for-
1) getting to choose a price at which
they want to sell/buy.
2) freedom to sell/buy from other websites before a counter party is found.
3) Safety of keeping their coins in their own wallet rather than some company's vault and risk being targeted by hackers. Recent events should serve as a lesson.
Moreover the fine will be used to console the agrieved party (not mentioned on our website) and recover whatever cost that we might have incurred.