📈 WORST EXCHANGE? for me.. IDEX, the nightmare for human trading. JUST BOTS!📊

funchiestz

sr. member

Activity: 1134

Merit: 342

Quote from: ChiNgadOr on March 13, 2019, 05:02:24 AM

Just wanted to share my frustration with IDEX exchange.. In terms of trading is by far the worst i have ever seen.. With a so low liquidty the allowance of bots trading make a huge spread, where only it is possible to have profit if you use some bots.. otherwise you will loose hours and hours to find the limit price of each bot, which also could change in a while.
I complained tons of times, and the customer support is really fast answering (i must admit they are the fastest of all exchanges!), but nothing changes.
I just began to think that these bots could be some "inside" job to make a profit... so the perfect business to cheat people, unless they use bot trading!

The number of exchanges under the DEX name has recently increased a lot. But I think it's not really DEX. Probably somehow open to manipulation!

ChiNgadOr

sr. member

Activity: 1680

Merit: 278

Quote from: mrdeposit on March 13, 2019, 05:09:42 PM

The use of bots is already in most exchanges. But you are right that the decentralized exchanges are useless. It runs very slowly, and unclear how secure it is. Do your research and you will find the one that suits you.

Not just slow or non transparent, but also fraudulent.. as their volumes are fake! Did you saw my post before yours?? Still is happening the same.. during the last night, many other ask orders appear as executed at a higher price that mine.. this is a shamE!

mrdeposit

hero member

Activity: 1358

Merit: 509

The use of bots is already in most exchanges. But you are right that the decentralized exchanges are useless. It runs very slowly, and unclear how secure it is. Do your research and you will find the one that suits you.

ChiNgadOr

sr. member

Activity: 1680

Merit: 278

Seems that some here dont get the idea ... I will explain..

Last price of a coin is for example 0,5 ETH.

BEst bid is 0,2 ETH
Best ask is 0,8 ETH

if you try to put any order over this amount.. it wil rise in 0,00000000001 ETH increments until it is almost 0,5 ETH. In other words, you can either place your order at the last price or nothing. But the guy with the but, will buy at 0,2 ETH, when someone decides to sell.
sames if you want to sell... another bot will lower your offer in 0,00000000001 ETH until reach almost 0,5 ETH.
Sumarizing, if you got a bot you get a lot of profit, otherwise you are f**ed. Once again, i ask myself... "inside" job?

and now, today... IDEX went one step beyong.. FAKE orders in order book! i put a sell order since this morning, and there appears many sell orders executed at higher prices than mine, which obviously is impossible.
Look at the times.. i put the order at 0.00010752 at 16:56 today. and there were some orders executed at 0.00010753 after 17:31

IDEX = SCAM?

btc-facebook

legendary

Activity: 1862

Merit: 1015

Quote from: Flangler on March 13, 2019, 12:27:32 PM

From my experience Liquid.io is the worst exchange. Fake trading competition, wash trading and bots. The exchange is also a lot of time broken, it is impossible to cancel order or make new one, and withdrawal can take sometimes up to few days....

I haven't used Liquid.io for buying and selling, but have you heard about Liquid.com? Even the liquidity is not that much, but the withdrawal fees of every single coin & tokens are completely zero, yup no fees for withdrawing. I have used this exchange multiple times, and it's quite user friendly for me.

No Pain No blood

member

Activity: 658

Merit: 13

I haven't used IDEX for a long time, but I don't think it's as bad as they say. bot?, come on, almost all the exchanges currently use bots. so there's no need to be surprised. without idex we will have a hard time selling bounty tokens, because almost all new projects must first be listed on IDEX

asdlolciterquit

hero member

Activity: 1666

Merit: 565

Quote from: ChiNgadOr on March 13, 2019, 05:02:24 AM

Just wanted to share my frustration with IDEX exchange.. In terms of trading is by far the worst i have ever seen.. With a so low liquidty the allowance of bots trading make a huge spread, where only it is possible to have profit if you use some bots.. otherwise you will loose hours and hours to find the limit price of each bot, which also could change in a while.
I complained tons of times, and the customer support is really fast answering (i must admit they are the fastest of all exchanges!), but nothing changes.
I just began to think that these bots could be some "inside" job to make a profit... so the perfect business to cheat people, unless they use bot trading!

so you prefer give your private keys to some other people and trust them to keep your keys safe? That's so crypto style!

AgentZero23

member

Activity: 644

Merit: 10

Almost all of exchanges are now having trading bots and some traders are also using it. It's hard to tell if the bots are from the exchanges or from the traders. However, you are right some exchanges using bots just to have some spread and kinda frustrating so see a wash trading.

kidbounty

full member

Activity: 1064

Merit: 101

HELENA

I don't think IDEX only uses bots, almost all exchanges use bots to manipulate volume. so I think that's a natural thing, maybe it's a little excessive. I see from all DEX Markets, IDEX is one of the good exchanges in my opinion.

Mila52

full member

Activity: 1022

Merit: 106

I don't like IDEX and use it extremely rarely. Bots all the time trade constantly dumping and lowering the price coins Here you can only buy tokens that price is constantly dump.

bakermaker123

copper member

Activity: 287

Merit: 1

Quote from: ChiNgadOr on March 13, 2019, 05:02:24 AM

Just wanted to share my frustration with IDEX exchange.. In terms of trading is by far the worst i have ever seen.. With a so low liquidty the allowance of bots trading make a huge spread, where only it is possible to have profit if you use some bots.. otherwise you will loose hours and hours to find the limit price of each bot, which also could change in a while.

That's unfortunate. You can actually try using new exchange if that's the case. Try using the exchange I am wearing on my signature now. There is no transaction fee here because it will be converted into their token.

Flangler

member

Activity: 963

Merit: 57

From my experience Liquid.io is the worst exchange. Fake trading competition, wash trading and bots. The exchange is also a lot of time broken, it is impossible to cancel order or make new one, and withdrawal can take sometimes up to few days....

Ifychuks

copper member

Activity: 224

Merit: 1

Quote from: agusiska on March 13, 2019, 06:11:55 AM

honestly youre right buddy, but other exchanger too, some people using trading bot on some exchanger, including idex, just like you mentioned.

These exchanges shouldn't allow bot tradings, it's not right. One, the price and value of the listed coins won't real cos of the bot tradings as opposed to when there is actual tradings where the price of the coins are determined by the traders.

5thFear

full member

Activity: 1260

Merit: 102

low liquidity is a problem being faced by a lot of exchanges and it is a genuine issue that can't be solved by the exchange itself. It will however be resolved with the passage of time with more and more people trading.

nreal

full member

Activity: 932

Merit: 100

arcs-chain.com

If you are looking for a trading platform with absolutely no bot, I think you will not find it. This is a problem we must accept, we can only find an exchange, but there are few bots

dearbesz1219

hero member

Activity: 924

Merit: 500

Hehe, and I recently thought about buying AURORA DAO tokens because price is very cheap and the yearly profit is around 27%.
But I agree that IDEX needs some updates to fix bugs.

rosezionjohn

sr. member

Activity: 882

Merit: 301

I don't know what you were thinking trading on IDEX. Many users on that exchange are "gem-finders". I only visit there to look and buy for undervalued tokens.

cizatext

member

Activity: 952

Merit: 41

Bot can't have direct influence on your trading I have experience similar problems on IDEX some times ago I was thinking the bots is behind it until my guidance educated me that bots have no power over my trading since I am the one who make decision on when to trade on the exchange, the low liquidity is responsible for it.

pandukelana2712

hero member

Activity: 728

Merit: 1006

BountyPortal Supporter & Hhampuz is my manager

What you think about this one.

It taken is from tideal.com.

Withdrawal fee:
BTC = 0.01 BTC
ETH = 0.1 ETH.

About the trading, they use bots too.

As they said about withdrawal fee :

Quote

We will adjust the withdrawal fees according to the blockchain conditions regularly.

But there was no change in the withdrawal fee regulation until today.

So, what you think about the fee? Why the fee makes so high?

airdropan

member

Activity: 532

Merit: 11

♦♦♦♦♦

bot for trading is not something new in crypto exchange
even on popular exchange like binance there is bot on trading

Topic: 📈 WORST EXCHANGE? for me.. IDEX, the nightmare for human trading. JUST BOTS!📊 (Read 338 times)