What are best sites that allow to short BTC on margin?

theonewhowaskazu

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Quote from: byronbb on November 17, 2013, 02:30:45 PM

Quote from: theonewhowaskazu on November 17, 2013, 10:55:38 AM

Quote from: Rupture on November 17, 2013, 05:05:40 AM

Quote from: Mick129 on November 16, 2013, 10:59:33 PM

Quote from: ArticMine on November 16, 2013, 10:52:35 PM

Avatrade http://www.avatrade.com/ allows 5x margin and Plus500 http://www.plus500.com/ 4x margin for CFD's on BTC/USD.
Edit: US persons need not apply

I use plus500, it is far more friendly user, but they lowered the leverage from 10 to 4...

Avatrade, leverage of 1:5 with a margin of 20%
Plus500 1:4 but only ask 10%, I just hope they will increase the leverage soon.

Is plus500 legit? They seem a bit off to me

It seems like it would be really easy to screw that site over by manipulating Goxs price. Sorta surprised nobody has tried yet.

Ya I thought this too. I watched their spread vs the orderbook a few times and it appeared to me they weren't even watching the depth, so you really could wait for a thin buy or sell side on gox and go short or long respectively. You could also wait for large spreads between gox and bitstamp and go short gox price with plus500 and long bifinex or avatrade and basically play the percentages of an eventual convergence.

They're not even watching spread, let alone depth. A person with a good 50ish coins could probably make a bundle there, by pushing the goxxian price around, and lower their gox commission as well.

byronbb

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HODL OR DIE

Quote from: theonewhowaskazu on November 17, 2013, 10:55:38 AM

Quote from: Rupture on November 17, 2013, 05:05:40 AM

Quote from: Mick129 on November 16, 2013, 10:59:33 PM

Quote from: ArticMine on November 16, 2013, 10:52:35 PM

Avatrade http://www.avatrade.com/ allows 5x margin and Plus500 http://www.plus500.com/ 4x margin for CFD's on BTC/USD.
Edit: US persons need not apply

I use plus500, it is far more friendly user, but they lowered the leverage from 10 to 4...

Avatrade, leverage of 1:5 with a margin of 20%
Plus500 1:4 but only ask 10%, I just hope they will increase the leverage soon.

Is plus500 legit? They seem a bit off to me

It seems like it would be really easy to screw that site over by manipulating Goxs price. Sorta surprised nobody has tried yet.

Ya I thought this too. I watched their spread vs the orderbook a few times and it appeared to me they weren't even watching the depth, so you really could wait for a thin buy or sell side on gox and go short or long respectively. You could also wait for large spreads between gox and bitstamp and go short gox price with plus500 and long bifinex or avatrade and basically play the percentages of an eventual convergence.

notme

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Quote from: Faraday on November 17, 2013, 01:13:20 PM

Quote from: meh32123 on November 17, 2013, 01:09:49 PM

bitfinex is limited to 1:2 atm.

Not to mention they never have USD reserve to buy on bitstamp lately.

OP wants to short. This should open up some USD. Tongue

Faraday

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Quote from: meh32123 on November 17, 2013, 01:09:49 PM

bitfinex is limited to 1:2 atm.

Not to mention they never have USD reserve to buy on bitstamp lately.

meh32123

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bitfinex is limited to 1:2 atm.

theonewhowaskazu

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Merit: 250

Quote from: Mick129 on November 17, 2013, 12:47:08 PM

Quote from: True___Blue on November 17, 2013, 11:19:00 AM

Bitfinex allows x4 margin.

BTC.sx allows for larger margins but I don't remember how big.

BTC.sx is 1:10.
Anyone use it? Any comment about this one?

I've tried it, it works in general but there are some annoying things about it.

First it looks as if they have some kind of weird margin call system which means that you can never lose more than a specific amount on a trade, rather than just losing your entire account balance. Not sure what the point of that is. Interest is counted for this margin call system.

Mick129

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Quote from: True___Blue on November 17, 2013, 11:19:00 AM

Bitfinex allows x4 margin.

BTC.sx allows for larger margins but I don't remember how big.

BTC.sx is 1:10.
Anyone use it? Any comment about this one?

True___Blue

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Merit: 250

Bitfinex allows x4 margin.

BTC.sx allows for larger margins but I don't remember how big.

theonewhowaskazu

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Activity: 448

Merit: 250

Quote from: Rupture on November 17, 2013, 05:05:40 AM

Quote from: Mick129 on November 16, 2013, 10:59:33 PM

Quote from: ArticMine on November 16, 2013, 10:52:35 PM

Avatrade http://www.avatrade.com/ allows 5x margin and Plus500 http://www.plus500.com/ 4x margin for CFD's on BTC/USD.
Edit: US persons need not apply

I use plus500, it is far more friendly user, but they lowered the leverage from 10 to 4...

Avatrade, leverage of 1:5 with a margin of 20%
Plus500 1:4 but only ask 10%, I just hope they will increase the leverage soon.

Is plus500 legit? They seem a bit off to me

It seems like it would be really easy to screw that site over by manipulating Goxs price. Sorta surprised nobody has tried yet.

vokain

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Quote from: freebird on November 17, 2013, 01:18:15 AM

Wanting to short bitcoin on 10x margin reminds me of this quote by Gene Hackman in Enemy of the State: "You're either very smart or incredibly stupid." http://www.hark.com/clips/jrfwjxcklf-either-smart-or-stupid

Did you hear some insider info about what's going to happen at the Senate hearing? Maybe some senators will come out for banning bitcoin and a leveraged short will pay off big. Otherwise, you could lose everything in a matter of hours.

many people will prove to be incredibly stupid (for our amusement)

Here is this epic thread:
https://bitcointalksearch.org/topic/--59969

Mick129

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It is legit I used it for many years... but now the leverage is 1:2 So im definitely looking for another broker

Rupture

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Quote from: Mick129 on November 16, 2013, 10:59:33 PM

Quote from: ArticMine on November 16, 2013, 10:52:35 PM

Avatrade http://www.avatrade.com/ allows 5x margin and Plus500 http://www.plus500.com/ 4x margin for CFD's on BTC/USD.
Edit: US persons need not apply

I use plus500, it is far more friendly user, but they lowered the leverage from 10 to 4...

Avatrade, leverage of 1:5 with a margin of 20%
Plus500 1:4 but only ask 10%, I just hope they will increase the leverage soon.

Is plus500 legit? They seem a bit off to me

Zangelbert Bingledack

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I'd think 2-3x is the maximum margin you'd ever want (or anyone would be able to provide, until Wall Street jumps in) for anything other than extremely short-term trading.

antimattercrusader

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Quote from: alex_fun on November 16, 2013, 10:15:58 PM

Hi folks,

What are best sites that provide BTC short facilities on margin? say 10x margin?

That has bad news written all over it, for anyone who offers such service especially.

freebird

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Freedom through Cryptocurrency!

Wanting to short bitcoin on 10x margin reminds me of this quote by Gene Hackman in Enemy of the State: "You're either very smart or incredibly stupid." http://www.hark.com/clips/jrfwjxcklf-either-smart-or-stupid

Did you hear some insider info about what's going to happen at the Senate hearing? Maybe some senators will come out for banning bitcoin and a leveraged short will pay off big. Otherwise, you could lose everything in a matter of hours.

theonewhowaskazu

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Activity: 448

Merit: 250

IT would be insane for any site to offer that much leverage on a short unless they made you sign some sort of enforceable debt contract, which clearly isn't happening.

Mick129

newbie

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Quote from: TERA on November 16, 2013, 11:03:47 PM

With 10:1 margin you will be liquidated at $500!

I've survived so far with 1:10 but yes the risk is high.

TERA

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With 10:1 margin you will be liquidated at $500!

Mick129

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Quote from: ArticMine on November 16, 2013, 10:52:35 PM

Avatrade http://www.avatrade.com/ allows 5x margin and Plus500 http://www.plus500.com/ 4x margin for CFD's on BTC/USD.
Edit: US persons need not apply

I use plus500, it is far more friendly user, but they lowered the leverage from 10 to 4...

Avatrade, leverage of 1:5 with a margin of 20%
Plus500 1:4 but only ask 10%, I just hope they will increase the leverage soon.

ArticMine

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Activity: 2282

Merit: 1050

Monero Core Team

Avatrade http://www.avatrade.com/ allows 5x margin and Plus500 http://www.plus500.com/ 4x margin for CFD's on BTC/USD.
Edit: US persons need not apply

Topic: What are best sites that allow to short BTC on margin? (Read 2090 times)