Topic: Stay away from CEX.IO margin trading (Read 120 times)
It seems from the screenshots that the difference between the open and stop loss price was too low, considering the frequent price changes of around 5%, so the system did its best to ensure that no loses would come. If you have any additional concerns, try investigating the case, but the price was too close to the one when you may have started losing money.
Expecting the long overdue correction and finding out about the Tether fraud I decided to sell my whole crypto portfolio and to short bitcoin, to make last big profit before the end of the year
Everything went smoothly, except when CEX.IO decided to close my short position few hundred $$$ below the SL - not only that, the leverage seems to have no effect on the investment whatsoever, let me explain:
They are supposed to have a system that "protects" them from slippage and closes the margin trades a little bit before they actually hit the SL, as it's supposed to calculate remaining difference between the current price, SL and the liquidity, or some shit like that... however this system is absolute bullshit, because as you can see, it just closes your position far below the SL, WHILE AT THE SAME TIME THE HIGH PRICE OF THE TIMEFRAME NEVER REACHED THE SL AT ALL, so in conclusion they just closed a trade FAR BELOW the stop loss, without the price actually getting EVEN CLOSE to the actual SL
the High price at the time it closed the position reached just a little bit over ~15 250$, but never actually touched 15558 at all! so that is a closed positions with a loss of 650$ because of their shitty system that doesn't work as it's supposed to do
now check out this trade and let's see if you can notice what's wrong with it:
oh wait, what is that? an order of 8026.41 / 19110.5 = 0.42 BTC, price difference of 4940.14$ and only 1369.94$ profit? how the fuck is that even possible? obviously 4940.14 * 0.42 = 2074.8588$ so how in the fuck did I get only 1369$ and where's the rest??? and that actually is NOT the ONLY trade, but all trades are like that!
140.67$ missing in this trade... both trades were using 1:3 leverage and the actual profit is actually 2/3 of the expected profit, meaning that most likely you only profit from what they "lend" you on margin and not on what you actually invest in the trade!
look at this open trade:
2424.06 / 16160.4 = 0.15 * (16160.4 - 15078.1) = 162.345$, but the profit is only 78.5$, which is 48.35% of the expected profit, so WHERE THE FUCK IS THE REST ?!?!
and the fact that with their margin trading you can't set a limit order, only market orders is fucked up as well!
please, for the love of God, stay away from this disgrace of an exchange ! I'm withdrawing all my funds ASAP and going elsewhere, as I can't stand their greedy bullshit
Everything went smoothly, except when CEX.IO decided to close my short position few hundred $$$ below the SL - not only that, the leverage seems to have no effect on the investment whatsoever, let me explain:
They are supposed to have a system that "protects" them from slippage and closes the margin trades a little bit before they actually hit the SL, as it's supposed to calculate remaining difference between the current price, SL and the liquidity, or some shit like that... however this system is absolute bullshit, because as you can see, it just closes your position far below the SL, WHILE AT THE SAME TIME THE HIGH PRICE OF THE TIMEFRAME NEVER REACHED THE SL AT ALL, so in conclusion they just closed a trade FAR BELOW the stop loss, without the price actually getting EVEN CLOSE to the actual SL
the High price at the time it closed the position reached just a little bit over ~15 250$, but never actually touched 15558 at all! so that is a closed positions with a loss of 650$ because of their shitty system that doesn't work as it's supposed to do
now check out this trade and let's see if you can notice what's wrong with it:
oh wait, what is that? an order of 8026.41 / 19110.5 = 0.42 BTC, price difference of 4940.14$ and only 1369.94$ profit? how the fuck is that even possible? obviously 4940.14 * 0.42 = 2074.8588$ so how in the fuck did I get only 1369$ and where's the rest??? and that actually is NOT the ONLY trade, but all trades are like that!
140.67$ missing in this trade... both trades were using 1:3 leverage and the actual profit is actually 2/3 of the expected profit, meaning that most likely you only profit from what they "lend" you on margin and not on what you actually invest in the trade!
look at this open trade:
2424.06 / 16160.4 = 0.15 * (16160.4 - 15078.1) = 162.345$, but the profit is only 78.5$, which is 48.35% of the expected profit, so WHERE THE FUCK IS THE REST ?!?!
and the fact that with their margin trading you can't set a limit order, only market orders is fucked up as well!
please, for the love of God, stay away from this disgrace of an exchange ! I'm withdrawing all my funds ASAP and going elsewhere, as I can't stand their greedy bullshit
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