Topic: [ANN]First online MPEx brokerage now in public beta - page 3. (Read 4872 times)

What are bitcoin credit ratings (and who are you again)?

Bitcoin Credit Ratings

This thread has received a B- rating.

OP provides good explanations, and probably won't run away with your coins. Good business plan.

The funding is processed manually because of technical reasons. MPEx does not provide any explicit feedback when the bitcoins arrive to the account, only implicitly that the balance changed (it may have changed for any other reason). Moreover, if users fund their account indirectly via CoinBr, it may be necessary to move the funds to MPEx first.
For direct deposits, this is non-issue. For funding via CoinBr, funds are moved to MPEx account as soon as any significant amount gathers in the wallet. So that sufficient liquidity is ensured at all times even if all users decide to place buy orders all at once.
At the moment, order is placed immediately when you click "Save". (It may be shown in "Queued" state but it means it waits for next STAT call to process further.) You can GPG-verify the receipt on the order detail page that it was placed exactly with the same parameters as you requested. Maybe later it will be necessary to really queue orders before submitting to MPEx to improve latency, but we'll always strive to place them asap.
We will either pay out to BTC address you provided on registration or move all assets to another broker.  If the closing will be catastrophical and CoinBr will be completely defunct (unlikely, there are continuously updated database backups on multiple physical locations), you will still have MPEx receipts that allow for reconstruction of your account. Sending them also by email is under development.
I cooperate with people that do have the experience and, as stated on the about page, we're open for working together with more people from community. We can hardly ask for any licenses when MPEx itself is strictly against regulation. You don't expose yourself to bigger legal headache than, for example, when downloading "pirated" intellectual property or playing in unlicensed online casino like SatoshiDICE. Unless you plan to hand yourself in, like Nefario did.
We're aligned with MPEx opinion that Bitcoin (and any securities based on it) is akin to virtual game money and are thus exempt from regulation at the moment. Should any government use irrational suppressive measures, we plan to react similarly like MPEx, too.
We assume no liability beyond one implied by law.

Also should ask,

Do you accept unlimited liability for clients account holdings?

A few questions:

Funding page says it may be delayed up to 48 hours, why is this and are any risks associated with this process?

Do funds remain on your system, how are they protected? Will you be acquiring deposit insurance or limiting liquid funds/transfers?

What is the flow for an MPEx order through your site? Please include information on how the BTC flows as well as the order requests an confirmation.

Will I have my MPEx assets in a usable format if your brokerage closes? How about any BTC in my account?

Do you have any securities trading experience or licenses? Am I exposing myself to yet another legal headache, or are you?

You are not asking for any AML/KYC information, have you determined that this is not needed? Have you talked to a lawyer?

https://coinbr.com allows everyone to trade on MPEx without creating MPEx account. Currently supported operations:

• Placing Buy/Sell orders
• Receiving dividends
• Option exercises
• BTC Funding*/Withdrawal** of any amount

All orders have signed MPEx receipts attached and there is detailed transaction/balance history available. Moreover, CoinBr offers referrals - you can earn commissions from trades of people you invite. More information on our page.

NEW(February 1, 2013): Double factor authorization for withdrawals, choice possible between Google Authenticator (google account not necessary) and bitcoin signatures.

If you already have MPEx account, you may be interested in our MPEx parser/JSONRPC proxy source code.

* Initial funding must be at least 1 BTC to unlock trading/referral functions.
** You can withdraw any amount, but withdrawal fee is to be considered.