[ANN] 1Broker.com - Trade forex, indices, stocks and commodities - page 38.

jokerdragon

member

Activity: 70

Merit: 10

Quote from: pizzaman1337 on March 16, 2013, 11:08:54 AM

Quote from: exxe on March 11, 2013, 10:34:31 AM

Bad News:
We have to close BTCUSD market (at least temporarily)
https://1broker.com/?c=news&newsid=5

While these are really bad news this opens the possibility that we redefine us and offer a DMA (Direct market access) trading in the future and solve the "bucket shop" discussions.

Is it still closed? I'm not seeing anything that indicates that it is on the trading screen, but I haven't seen an announcement that it's open again.

on BTC/USD tab it shows:

"BTC/USD
Characteristics
Type Forex    WKN -    Symbol BTCUSD
Currency BTC/USD    Max. Leverage 5    Current Spread 0.151
Description
*** This market is currently closed.***

This is the exchange rate between Bitcoin and the U.S. Dollar. The rate is calculated with market data from Mt.Gox, the biggest Bitcoin exchange available. If other exchanges reach a similar level of volume and stability they will also affect the price of this CFD.
Bid    Ask    Update
46.75
46.901
12:41:16 PM"

pizzaman1337

newbie

Activity: 37

Merit: 0

Quote from: exxe on March 11, 2013, 10:34:31 AM

Bad News:
We have to close BTCUSD market (at least temporarily)
https://1broker.com/?c=news&newsid=5

While these are really bad news this opens the possibility that we redefine us and offer a DMA (Direct market access) trading in the future and solve the "bucket shop" discussions.

Is it still closed? I'm not seeing anything that indicates that it is on the trading screen, but I haven't seen an announcement that it's open again.

jokerdragon

member

Activity: 70

Merit: 10

Ok. Here I come with my report:

1st --> 'exxe' have been far away the most serious administrator of all this BTC investment sites. His site is not a gambling site, and by the way, the code under the site is truly a genius piece of art. The refresh are faster from any other site, even when dealing with all stocks, indexs, commodities, btcs, all at same time. The values showed are always correct and updated.

2nd --> My comunication with 'exxe' really have leveraged myself as a trader and as a person. I fully recommend this service(1broker), since all my experience with him leads to confidence and trustfull.

Just my 2 cents Cool

exxe

full member

Activity: 187

Merit: 100

Quote from: byronbb on March 13, 2013, 03:19:23 PM

My suggestion would be to stop trying to be a serious trading platform, but basically admit to being a bucket shop and target your service to gamblers. ie http://financials.williamhill.com/

I think I gave honest and clear answers about this in my previous posts. I think there is nothing to "admit".

Of course CFDs can be used as a pure gambling instrument, but especially with low leverages it is definitely possible to trade in more "serious" way.

byronbb

legendary

Activity: 1414

Merit: 1000

HODL OR DIE

My suggestion would be to stop trying to be a serious trading platform, but basically admit to being a bucket shop and target your service to gamblers. ie http://financials.williamhill.com/

🏰 TradeFortress 🏰

vip

Activity: 1316

Merit: 1043

👻

In other words, people were buying/selling a penny on gox and changing the price.

2112

legendary

Activity: 2128

Merit: 1073

Quote from: exxe on March 11, 2013, 10:34:31 AM

We have to close BTCUSD market (at least temporarily)
https://1broker.com/?c=news&newsid=5

Just for the posterity:

Quote from: 1broker.com/?c=news&newsid=5

Dear customers,
With much regret we have to announce that we will temporarily close the BTC/USD (Symbol: BTCUSD) market. A user successfully demonstrated the possibility to win constantly on our platform by moving the underlying market. This problem was known but thought to be not profitable because of position limits, market fees, and spreads. This issue is, with our current system, not trivial to fix and as a result we are forced to close this market. All opened positions on BTCUSD will be automatically closed on Tuesday 12th March, 6 p.m. UTC. Of course you can also close your positions manually until this time.

Since 85% of all trades were made on BTCUSD this is a backlash for 1Broker, but in the interest of our users and their funds there is no way around this decision. We are currently thinking of new strategies with this CFD, but we cannot guarantee a solution yet. We hope you enjoy trading on our other 14 markets, in the future.

All the best,
exxe

exxe

full member

Activity: 187

Merit: 100

Bad News:
We have to close BTCUSD market (at least temporarily)
https://1broker.com/?c=news&newsid=5

While these are really bad news this opens the possibility that we redefine us and offer a DMA (Direct market access) trading in the future and solve the "bucket shop" discussions.

exxe

full member

Activity: 187

Merit: 100

Due to small MtGox market manipulations we had to increase the spread on BTCUSD a little bit.

Sorry for this inconvenience, but currently there is no way around.

exxe

full member

Activity: 187

Merit: 100

Quote from: ElectricMucus on March 02, 2013, 07:27:07 PM

Whoever made this is engaging in sockpuppet advertising, take care.

This is a nonsense-statement, which contains no information for readers and for me to answer your accusation.
We would never do something like this.

poly

member

Activity: 84

Merit: 10

Weighted companion cube

Quote from: ElectricMucus on March 02, 2013, 07:27:07 PM

Whoever made this is engaging in sockpuppet advertising, take care.

Links / sources please? I'd be very interested.

ElectricMucus

legendary

Activity: 1666

Merit: 1057

Marketing manager - GO MP

Whoever made this is engaging in sockpuppet advertising, take care.

picobit

hero member

Activity: 547

Merit: 500

Decor in numeris

Quote from: 🏰 TradeFortress 🏰 on March 01, 2013, 11:24:03 PM

Quote from: exxe on March 01, 2013, 10:30:29 AM

Quote from: 🏰 TradeFortress 🏰 on March 01, 2013, 06:07:15 AM

1broker lies about market prices because they are a bucket shop:

Mt Gox Last: $34.39798
1Broker: 34.0242/34.2302

We are using MtGox bid and ask price (not the last price) for the calculation.

The last price had to be a former bid/ask price.

On any sensible platform, yes. But not on MtGox!!!

The last price is often above the daily max too. This is apparently because the bid, ask, max and min prices all refer to a single market (BTC/USD) but the last price may come from a much smaller market with a huge gap (BTC/CHF for example), translated into USD.

🏰 TradeFortress 🏰

vip

Activity: 1316

Merit: 1043

👻

Quote from: exxe on March 01, 2013, 10:30:29 AM

Quote from: 🏰 TradeFortress 🏰 on March 01, 2013, 06:07:15 AM

1broker lies about market prices because they are a bucket shop:

Mt Gox Last: $34.39798
1Broker: 34.0242/34.2302

We are using MtGox bid and ask price (not the last price) for the calculation.

The last price had to be a former bid/ask price. Maybe there was network problems but I did not observe $34.39 for ask on 1broker.

Either way, I suggest using the API to automatically buy BTC on Mtgox when someone longs, and vice versa, and get rid of the 50BTC limit..

exxe

full member

Activity: 187

Merit: 100

Quote from: 🏰 TradeFortress 🏰 on March 01, 2013, 06:07:15 AM

1broker lies about market prices because they are a bucket shop:

Mt Gox Last: $34.39798
1Broker: 34.0242/34.2302

We are using MtGox bid and ask price (not the last price) for the calculation.

🏰 TradeFortress 🏰

vip

Activity: 1316

Merit: 1043

👻

Mt Gox Last: $34.39798
1Broker: 34.0242/34.2302

exxe

full member

Activity: 187

Merit: 100

Quote from: 🏰 TradeFortress 🏰 on February 28, 2013, 06:48:10 AM

Withdraw fee is 0.005 btc which is $0.15 instead of 0.0005 btc which is $0.015..

Right.

We will not raise this fee for the upcoming smsTAN system, however. (The cost for the SMS is included in the fee)

🏰 TradeFortress 🏰

vip

Activity: 1316

Merit: 1043

👻

Withdraw fee is 0.005 btc which is $0.15 instead of 0.0005 btc which is $0.015..

exxe

full member

Activity: 187

Merit: 100

Quote from: picobit on February 04, 2013, 03:10:12 AM

Quote from: exxe on February 03, 2013, 07:45:13 PM

No problem. By your (and en.wikipedia's) definition we are partly a bucket shop because we only hedge when it's necessary. However, the German Wikipedia defines Bucket Shops as a scam which manipulate live prices to their advantage.

I fully understand your worries of trusting us. I was scammed myself in 2011: https://bitcointalksearch.org/topic/m.467674

Thank you very much for your clear and honest answers. I am not too worried about getting scammed, I am more worried about you guys folding when everybody goes long on BTC and the price skyrockets. This will not keep me away, but it will certainly limit the how much I am willing to gamble on your site. I would be very worried if I were you, you could end up loosing a huge amount of money very quickly.

It is unlikely that everybody goes long in a natural market. But even IF everybody goes long, the price skyrockets, we forgot to hedge and have no reserves left it will ALWAYS be possible to pay out at least the margins. I'm not very worried that this could become a problem with the current system, however.

Thanks for the questions and for giving us a try, btw

Quote from: MPOE-PR on February 04, 2013, 05:38:45 AM

Is there some way a third party can verify you indeed limit ALL accounts, and verify your total exposure on the markets? Is there some way a third party can verify you do indeed have the capital you're lending on margin?

It's hard to prove these things, since I could send you manipulated data, documents, screenshots ... The majority of our reserves are held in Euro and unfortunately there is no cryptographic proof that these reserves really exist, too.
However, the limits are hardcoded and not user specific. You can verify this by asking other users.

Quote from: 🏰 TradeFortress 🏰 on February 04, 2013, 06:39:52 AM

Knowing your identity helps nothing. We all know Pirate is Trendon Shavers.. but nothing's came out of it.

Partly true. But keep in mind that, unlike Trendon Shavers, we have working business model which is used by thousands of companies around the world.

🏰 TradeFortress 🏰

vip

Activity: 1316

Merit: 1043

👻

Knowing your identity helps nothing. We all know Pirate is Trendon Shavers.. but nothing's came out of it.

Topic: [ANN] 1Broker.com - Trade forex, indices, stocks and commodities - page 38. (Read 103052 times)