Feature request and pretty important for me: Ability to set stop loss in advance on ordering. Main reason is to know in advance what my minimum stop-loss would be for given instrument. Right now it's really hard - have to guess/calculate.
Edit: clarification.
This is definitely planned and will be implemented in the near future.
I like your site. I made a test account to see more of it. The spreads are nice, but because I mainly trade the main Forex pairs (not BTC/USD) it is hard to calculate the profit or loses at forehand. The information that you win an x amount of BTC when the price will rise (or fall) 1% is not enough for me, since I like mostly pretty short time trades and such rises (or falls) are very rare then. For example for Eur/Usd it is like 134 pips. I don't want to wait for that
Is it true that at this moment we can not go long on all markets on your broker or only on BTC/USD?
Thanks! The next update will contain a profit/loss calculation tool. We will consider the demo account feature.
There are no trading interruptions for our non-BTCUSD markets. The BTC/USD market will be closed, however.
I have a few questions:
1. What is your liquidation policy? Only when all my bitcoins are gone or after a certain time/price drop. Because I remeber that you arbitrarily (from my point of view) liquidated my position which caused me a loss.
This depends on the leverage used. When you open a position an automatic Stop-Loss value is assigned to it. (visible when you click on the arrow beside the position)
This is, at the same time, the limit, what means that you can't edit it to a lower value for long position and vice-versa for short positions.
The calculation for this limit is quite complicated and is likely to be changed soon. Usually it is a value where you lost 80-100% of the margin.
2. Since users bet against you (hope I understood the service correctly), do you have enough funds to cover losses over a longer period. For example all users go Long with a total amount of 1000BTC and Bitcoin continues to rise for a few weeks/month (which is quite likely), this can cause a huge loss for you. There is also no maximum and I read somewhere that you are stundent. Seems to me likely that you will default someday.
There are limits:
https://1broker.com/?c=cfds1Broker is
not a hobby-project by a student who lives at his parents' house.
We are operating since one year (without incidents) with a total volume of more than 24,000,000$. (60k BTC)
We are well funded and confident enough to say that we know what we are doing.
Important announcement (https://1broker.com/?c=news&newsid=10)BTC/USD is closed
Our BTC/USD market will be closed on Monday, November 18th 2013, 4:00 pm (GMT+1).
There are multiple reasons behind this decision:
- This market was hardly profitable for us. The extreme high volatility makes it also extremely risky for market makers to offer a derivative. The only way to fight this is with low limits and high spreads, which both lead to unsatisfied traders.
- The data connection to most Bitcoin/U.S. Dollar exchanges is unstable or comes with huge lags. Many exchanges don't have a real-time data stream or (re)move such APIs without warnings.
- We had to put extraordinary much time and resources into managing this market.
- Although we have ideas to overcome the above problems, a new implementation is complex and needs a lot of work.
FAQ
Is 1Broker bankrupt?
No, we currently have roughly two times the amount of all users' assets as reserves.
Will open positions get force-closed?
Yes, on Monday 4:00 pm (GMT+1) we will close all open BTCUSD positions with a market order. If you want to avoid this please close your position until then.
Wait .. you have collected the spread and now my position needs to be closed?!
Before the weekend, the spread will be lowered to 0.01 points to make this a non-issue.
What is the future of 1Broker?
We will concentrate on the other markets and improve the whole platform even faster. In the near future we will add a lot of new markets.
Will the BTC/USD CFD come back?
We don't know yet, but if yes, it will be in a completely different form.
Why is 1Broker so incompetent? Offering derivatives is easy!
Great, we would gladly outsource the management and risks of this market. If you have enough know-how and financial reserves just contact us.