Is it safe to trade through a Broker - page 5.

gabmen

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Quote from: Qartersa on May 08, 2018, 05:41:25 AM

I do not think it is safe to trade through a broker in the cryptocurrency market. This is not like the Stock Exchange that is very much regulated by governments. In cryptos, yes, it may sound to be a lot like it but the thing is, cryptocurrencies remain to be a mystery up to this time. Governments have not even made a categorical law or regulation addressing the concerns that may be brought by cryptos.

I do not know with the laws of your country but as for us, we were earlier told that we are investing at our own risk. Hence, we assume all risks shall we fall victims of all types of fraudulent acts. Having said this, it is thereby even more unsafe to trade through a third person.

Well brokers probably have more kniwledge than us with how to react or move based on the market's status, but i don't personally feel comfortable letting someone else trade my money for me. I think it's still a lot better if you study and learn yourself so you wouldn't have to let others do it for you

Qartersa

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I do not think it is safe to trade through a broker in the cryptocurrency market. This is not like the Stock Exchange that is very much regulated by governments. In cryptos, yes, it may sound to be a lot like it but the thing is, cryptocurrencies remain to be a mystery up to this time. Governments have not even made a categorical law or regulation addressing the concerns that may be brought by cryptos.

I do not know with the laws of your country but as for us, we were earlier told that we are investing at our own risk. Hence, we assume all risks shall we fall victims of all types of fraudulent acts. Having said this, it is thereby even more unsafe to trade through a third person.

carlfebz2

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Quote from: ankurguta87 on May 07, 2018, 12:33:08 AM

Hi community,

A broker contact me online and asked me whether I am interested in trading online. He will manage my account and put his knowledge to make me profit but in return I have to send me 25% of profit that he made.

He suggested me to activate 2FA. and provide him username + password of exchange (for example bitfinex). Due to 2 factor authentication (2FA) he will not be able to withdraw fund he will be able to place buy/sell orders only.

Please share guys what is your opinion, It is same to play like this? or Is there any trick of capturing fund behind this scheme?

As long funds cant be withdrawn due to 2fa then its your choice if you would able to take the risk and trust him with your funds.If you do trust his trading history not the fake ones then might worth to try but if i were you dont trust too much and you might end up on losing your entire balance without your own effort. For sure that would really be a regretting part. I would rather choose up to lose funds in my own moves or trades rather on trusting someone.

Uno17

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Brokers are part of the trading industry, so maybe it is also safe to deal with them but maybe there are few if them that are not trustworthy but not all, but for me, if i will go on trading, i would rather do it by myself, because if am interested in one thing, i would love to do it myself because it is the safest way to keep my money and investment secure😊

elimi

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Quote from: ankurguta87 on May 07, 2018, 12:33:08 AM

Hi community,

A broker contact me online and asked me whether I am interested in trading online. He will manage my account and put his knowledge to make me profit but in return I have to send me 25% of profit that he made.

He suggested me to activate 2FA. and provide him username + password of exchange (for example bitfinex). Due to 2 factor authentication (2FA) he will not be able to withdraw fund he will be able to place buy/sell orders only.

Please share guys what is your opinion, It is same to play like this? or Is there any trick of capturing fund behind this scheme?

I am more interested in trading using my own skills, because I think trading using a broker is not so safe even though 2FA is in our hands. I think hone your own skills.

Rhaizan

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Quote from: ankurguta87 on May 07, 2018, 12:33:08 AM

Hi community,

A broker contact me online and asked me whether I am interested in trading online. He will manage my account and put his knowledge to make me profit but in return I have to send me 25% of profit that he made.

He suggested me to activate 2FA. and provide him username + password of exchange (for example bitfinex). Due to 2 factor authentication (2FA) he will not be able to withdraw fund he will be able to place buy/sell orders only.

Please share guys what is your opinion, It is same to play like this? or Is there any trick of capturing fund behind this scheme?

They contact you for trade? Actually there's people are contact me in online and he wants to help me, he said he can trade for me to gain profits. Honestly it's suspicious thing why other else, when you can do trading and make your own profits.

almaerk08

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Trading with a third party is not a good idea. We should not trust anybody with our provate keys. No matter how good his offer may be, dont trust him, never. It could be a scam, so dont trust him.

hermae

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I dont think it is a good idea to give your trust to someone you dont know, especially if it involves financial things. Even if you knew that person, it is still not good to trust your funds to him. Think of a possibility like scam. He might have a hidden agenda and trusting him all your private keys is like giving it to a robber voluntarily. So I suggest dont trust this man, we dont need any third party in trading. We can do it by ourselves.

logan16j

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Quote from: ankurguta87 on May 07, 2018, 12:33:08 AM

Hi community,

A broker contact me online and asked me whether I am interested in trading online. He will manage my account and put his knowledge to make me profit but in return I have to send me 25% of profit that he made.

He suggested me to activate 2FA. and provide him username + password of exchange (for example bitfinex). Due to 2 factor authentication (2FA) he will not be able to withdraw fund he will be able to place buy/sell orders only.

Please share guys what is your opinion, It is same to play like this? or Is there any trick of capturing fund behind this scheme?

I think that you should directly deal, not through the intermediary, this market is very complex and every transaction is anonymous so it is very risky if you ask someone to trade. Walls are constantly changing and difficult to guess so if you ask someone who is not good enough then the loss will happen to you and that person. So I recommend you to directly deal.

daicavung

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If it was me, I would not agree, I can not believe anyone on the Crypto market, now a lot of scammers, I'm not saying brokers are you fraudulent but be careful above all.

Indrawan77

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It is a bit odd if he is the one that contacted you then you should be aware even if he can't withdraw but he still can make you lost money, 25% fee is very big, I don't see this as a good offer, its better for you to trade by yourself or if you don't understand just hold your coin, dont become greedy and trust people so easy there are a lot of bad guy in this world

GrayFullbuster

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Of course no! It is not safe if you will buy a bitcoins through a middle man or brokers. There are a lot of scammers nowadays and it is better if you will buy on exchanges rather than on brokers.

bettercrypto

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Some is fishy with his intention to you. I suspect that the person you've talked in online is a scammer. Do not transact with him unless you know him personally. Even you know him much, don't trust with him. You can trade at your own. In the world of internet, you should not trust someone else beside yourself. If you are wise, you can trade in cryptocurrency by just viewing video tutorials and tips on how to earn in trading. Aside from that, there are no more way to earn specially, lending your capital to someone else.

Dontme

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Better not to trust anyone here especially in online. Well, you don't his true intentions and you don't him that much unless you are friends or he is your room mate, cousin or relative. I am telling you that never trust anyone else here in crypto in that matter better to be wise and find your own strategies.

Insanerman

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Trust yourself man, always be skeptical with these vast and wide ocean of crypto, only you can save yourself from danger, its very risky for you if you let other people handle your accounts, even if it is legit. Online communication should be avoided when dealing with money even if it is cryptocurrency deals. Be a skeptical person

Zerbis

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Trading & Crypto

My review here, where i show what i like and what i don't like:

https://bitcointalksearch.org/topic/m.34521563

Edit: This is my experience, and was good. This is not an advice to invest or to trade whit him, because trading is risk and no one have the magic ball for see how price will move!

Quote from: avikz on May 07, 2018, 04:18:00 AM

Quote from: ankurguta87 on May 07, 2018, 12:33:08 AM

Hi community,

A broker contact me online and asked me whether I am interested in trading online. He will manage my account and put his knowledge to make me profit but in return I have to send me 25% of profit that he made.

He suggested me to activate 2FA. and provide him username + password of exchange (for example bitfinex). Due to 2 factor authentication (2FA) he will not be able to withdraw fund he will be able to place buy/sell orders only.

Please share guys what is your opinion, It is same to play like this? or Is there any trick of capturing fund behind this scheme?

I believe the broker who contacted you is offering PMS (portfolio management service). This kind of practice is offered by banks since ages. But when it is with banks, you know they can't run away with your money because you have regulatory authorities to help you. However, when it comes to online, I will suggest you not to believe anyone with your money. Because if something goes wrong, you will not be able to catch anyone or get back your money. So it is better to avoid brokers who offer such services online.

Quote from: Zerbis on May 07, 2018, 02:37:22 AM

Quote from: ankurguta87 on May 07, 2018, 12:33:08 AM

Hi community,

A broker contact me online and asked me whether I am interested in trading online. He will manage my account and put his knowledge to make me profit but in return I have to send me 25% of profit that he made.

He suggested me to activate 2FA. and provide him username + password of exchange (for example bitfinex). Due to 2 factor authentication (2FA) he will not be able to withdraw fund he will be able to place buy/sell orders only.

Please share guys what is your opinion, It is same to play like this? or Is there any trick of capturing fund behind this scheme?

Hallo,

If trader is the same as I think ( HedgeFX or https://bitcointalksearch.org/topic/hedgefx-trading-investments-2572722 ) , you could go safe (only risk is bad trade) . Obviously I speak of my experience, in which I invested only 0.1, but in the end I got some results and no one scammed me.
If we think well, this kind of services are similar to an ICO, where you send money to someone in the hope that this results ... With the difference that in the ICO you do not choose anything, while in managed account from a trader, your money remain on an account of broker of your choice that you have chosen and you trust, and you could take them whenever you want.

Do you have any proof to prove your claim here? Because I can't see any credible vouches for its services in their thread and you are claiming that you have indeed invested in their service. So a proof of your claim can come handy.

bitcoinveda

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It's not a good idea to give your information for trading, in online investment we should not believe anyone but we have to do the trading by ourselves because if you face any loos you can look after yourself. If other person shows lot of loos means you cannot control those emotions.

Shanmatthew

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Activity: 243

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Its not recommended to trade with a broker.this kind of plan is like a blind man.you don't know where to go.best suggested is you can trade by you're own.read about trading and practice to analyze how to the chart flow.every thing you want to ask is here just patient and read the information then adopt to you're self.

romero121

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What's the need for a broker, because we have got different channels to give suggestions about the trading of different altcoins. Along with that we have different exchanges that gives easy accessibility and demonstration of trading. So, I never feel it is good to have a broker for trading needs.

ylnar123

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Quote from: ankurguta87 on May 07, 2018, 12:33:08 AM

Hi community,

A broker contact me online and asked me whether I am interested in trading online. He will manage my account and put his knowledge to make me profit but in return I have to send me 25% of profit that he made.

He suggested me to activate 2FA. and provide him username + password of exchange (for example bitfinex). Due to 2 factor authentication (2FA) he will not be able to withdraw fund he will be able to place buy/sell orders only.

Please share guys what is your opinion, It is same to play like this? or Is there any trick of capturing fund behind this scheme?

I doubt that he is legit. In my own opinion, maybe you should know how to trade on your own and having a broker trade for you is like making the risk of your investment double. This may be a scheme of scamming rahther than helping you out. If I were you I will not trust easily on a stranger especially when it involves money.

Topic: Is it safe to trade through a Broker - page 5. (Read 1503 times)