Topic: FAQ suggestions for new exchange (kraken.com) (Read 3827 times)

I'm pretty sure we will still want to have some kind of trial account with fake money after real trading launches.

When you release, would it be possible to support 'trial' accounts, basically like beta accounts where you can try out trading without actually risking real assets. This would be useful for people trying out bots or wanting to get started with bitcoin trading but who aren't confident enough to use real money yet and could open up bitcoin to a lot more people. It could work by matching their trades and positions with real trades on the order books so that it could remain realistic with real trade delays and live price changes.

Ah, payward. Confused you guys with the paymium scammera

I hope everyone realizes how bullish this all is.

An exchange that is
> written by competent people
> fully compliant with regulations
> highly responsive on the forums
> easy to deposit to and withdraw from

would be a godsend and apparently this one is at least 3 out of those 4.

While it might give a potential customer some comfort to know the physical location, it is also a potential security risk for us and our actual customers to give away the location of our office. I'm not sure much could actually be gained from breaking into our office, but we certainly don't want to invite this by giving out our address. For many (if not all) of our competitors who give addresses, these addresses are not the actual physical location of offices. If you search the addresses given by Bitstamp and Campbx, for example, you will find that multiple businesses are listed under exactly the same address. Compare these addresses:

https://campbx.com/faq.php

http://www.deimports.com/contact.html

They are exactly the same. Campbx isn't giving out their physical office address, and they are smart not to.   

Before we launch, the "About" section  on the site will be filled in with the info about Payward (the company behind Kraken) we are willing to share. Maybe it will include an address, but it certainly won't be the real address of our physical office space. Other information will also be filled out (such as our "Legal" section). If potential customers think that we aren't revealing enough for trust, then that is their decision. But we appreciate people letting us know what kind of information they would like to know in case we have overlooked something we are comfortable sharing.     

Good point - passing this along to the devs.

For your potential customers' security reasons, you need to tell people where you're located.  Knowing which country's laws your company is subject to is important.  Knowing that you have a physical office space in a business district as opposed to operating out of a spare bedroom is also important.

Just an observation.

Your create account page does not ask for confirmation of PASSWORD when setting up.

This is a minimal feature to ensure people don't mistype their password, or at least ensures they make the same mistake twice. Normally setup the same for email addresses too.

For security reasons, I can't give you that information but we're at all the Bitcoin meetups in San Francisco if you ever want to chat.

1) Where are your offices located (physical street address)
2) Where are your servers located (city/country at a minimum).

I'm not sure about the rate limit, but I'm checking on this.

And of course I can't make any promises at this point about future features, but I don't see any reason why we would take away API if we go with something like what Loozik suggests.

Yes

When I closed a few positions in quick succession, I was then unable to open a trade for the next couple minutes on the grounds that my rate limit was exceeded. What is the rate limit on the number of trades I can make?

Also, with regards to Loozik's idea, I think that would be great, but can you also keep the API as well? Very few forex brokers seem to offer both (and if they do, they charge for the API). This is quite important to me and others, and I think it would definitely set you apart from both bitcoin and forex exchanges alike.

The market will be your own market?

Good.

Thanks Loozik! All this would be nice.  I think we want to get something along these lines going as soon as the devs have time for it, but not sure exactly what we'll go with. But I'll make sure your suggestion gets considered.

1. Offer to your clients for free MT4 or MT5: http://www.metaquotes.net/en/company

2. Integrate (data feed + trading gateway) with MC http://www.multicharts.com/ and NT http://www.ninjatrader.com/

and you will kill other exchanges. what your competitors offer in this regard is laughable.


MT is a standard free-for-end-users charting and trading application in forex market. MC and NT are leading non-free (up to $1.5k per license) charting and trading applications for traders in forex and futures markets.

No, we can't guarantee your account won't go negative. Margin call level & margin liquidation level are designed to make it unlikely, but if the market moves fast enough there's nothing we can do to prevent it. 


Not that I know of. For a pair like BTC/USD that is highly volatile 10x is a lot. Really high leverage like 250x only makes sense for traditional currency pairs like EUR/USD where the volatility is low. But I suppose if we ever offer traditional pairs, we would offer higher leverage for those pairs.   

On leveraged positions, can you guarantee that I will never drop below 0 in my account? I know I should always set the order up to close well short of this, but what would happen if this mechanism failed, or if I was using a trading bot and it malfunctioned?

Also, are there any plans to raise the maximum leverage beyond 10x?

We've got more content up on the beta site now. Any feedback is appreciated.

https://beta.kraken.com/help/faq

https://beta.kraken.com/help/fees-and-pair-info

https://beta.kraken.com/help/trading-guide

https://beta.kraken.com/help/api

https://beta.kraken.com/security/practices

The AML/KYC account verification info isn't up yet, but should be soon.

D