Topic: trading Forex with Bitcoin deposit/withdraw - page 30. (Read 120494 times)

fees

I'm not too worried about financial regulators warning against a Bitcoin forex exchange, in fact I would expect it since obviously it cuts them out of the picture.  Its all about reputation, if someone lost money on bit4x or were scammed/didn't get their deposit back then that is important to me ... everything else doesn't seem to matter besides if the exchange actually does what is supposed to.

From what I can tell bit4x doesn't seem to be very popular so I am hesitant, if I put in a big deposit would they just pick up and run?

An intersted concept, for a full Bitcoin Forex exchange, would be for some way to have Bitcoins in a multisig/escrow type account.  There would be a clear contract obviously stating you are responsible for forex losses/gains.  This would prevent the exchange operator from stealing your funds though.  
Since the exchange operator wouldn't have direct access to the funds immediately, then he would have to use his own funds to do the trading, so something like this

Forex operator has a wallet of say 20 BTC
Customer comes and wants to "deposit" say 4 BTC to use Forex
Customer puts 4 BTC in escrow account with terms that he is responsible for loss/gain
Forex operator uses his own 4 BTC to let the customer trade with.
When the customer wants to cash out (either he gains or loss), Forex company sends him the account balance (lets say the 4 BTC turned into 2 BTC with losses, Forex company sends customer 2 BTC).
Money is released from escrow, and any disputes there is clearly evidence logs of trades/profits/loss

Of course there would be fees for the Forex company since they have to have BTC reserve to actually trade with, so going through this process ties up their BTC holding so it needs to be worth their while.

opinions?  also it would rely a lot of the Escrow company being somewhat "smart" and being able to look at forex trading history in case of disputes (if the customer claims he didn't lose money but he did)

Also, there is the possibility that the Forex operator keeps the money, say the customer turns the 4 BTC into 40 BTC with trading.  The Forex company could decide to just keep that and forfeit the escrow deposit of 4 BTC.  In this case then the customer would want to "cash out" when his winnings exceeded the escrow amount and start over.

Just exchange to skrill. you can trading with good broker.

I don't understand. You are refering to etoro? they seam pretty alive

Do you mean E-Terrible! They are history thank God, what a scam!

I remember etoro acepting BTC for a very short period of time. it's a strange broker anyways

I was very into E-torro before the whole Cypress bankruptcy thing. Now I won't go near it! 

no problem. just ask about your strategies.
okey thanks your information. yes, I need for instant withdraw and deposit.

this topic is not about strategies



there are many diferent brokers in the list. it's not even meant to be a recomendation, just a list.
but if you look for instant withdaw have a look at https://1broker.com/m/r.php?i=229

what do you strategy to use your trading ?
and if trade this broker, how about withdraw, fast proses ?

wow. that's hard. why is a company that big not hedged?

I enjoy playing the forex and other markets with btc online at 1Broker, I wouldnt normally be able to play the normal commodities and ie gold,solver,oil,forex

I dont do it regularly but i hear things in the news about like say the Ruble falling, or Oil falling, and lately Swiss currency shot up after decoupling from the euro, those sometimes are sure things if u get on em quick

I guess he meant the CHF disaster which knocked some platforms like Alpari out of business: http://www.alpari.com/

I don't quite understand what you want to know

Some 15 years ago I did some Forex trading (user of web platforms), of course, Crypto currencies were not in the scene.

I still keep receiving messages from my now seldom used Forex provider (useless to mention it here, for it doesn't handle Bitcoins), but the thing worth mentioning is the kind of restrictions on margin trading on pairs involving several currencies (CHF, JPY, MXN, to name a few).

The ground is moving, and, as I always keep an interest in this, it would be interesting to read comments on how this shaky Eco environment affects your use of your preferred Forex Trading platform.

S.

I thought it would be better to edit the list:

well, they charge fees for fiat in and out.....obviously they could do something like frontrunning, too.....but since this is free market, this is totaly "legal" (and I doubt there is any exchange (even the fee chargers) which do not take advantage of their privileged position) .....anyways, there is a lot of dicussion here where you can read about this in the forum

Any zero fee exchange is likely going to be some kind of scam. All businesses need to somehow make money and if they are not charging their customers anything then the only way they can "make" money is to steal it somehow and if they are holding money on behalf of their customers then those funds would be easy to take