Topic: xBTCe is fake exchange controlled by FxOpen to manipulate all their clients (Read 134 times)

Now couple of weeks later xBTCe is replicating Bitfinex charts (checked BTC, ETH).

Candle values are not the same but the candles ARE exactly the same except when they loose connection with Bitfinex. Check below picture what happen to poor guy(s) closing their position when xBTCe have lost connection with Bitfinex. That drop happen simply because xBTCe does not have any liquidity. Those traders probably enjoyed that ride.

https://ibb.co/BHJsHng

xBTCe (Ask+Bid)/2 is now always following Bitfinex last trade (checked only BTC, ETH).

BUT they have stopped faking volumes, for now. Even tho ETHUSD had couple of 200+ ETH orders. Probably thanks for FxOpen client(s).

Their bot went crazy for holidays.

https://ibb.co/z4B3GGJ

(edited: this is not bot craziness but due to no liquidity while someone was executed market order)

Thanks for suggestions.

Hey, Thank you very much for taking your time and trying expose scam. I and definitely other people in this forum really appreciate what you have done.
However it would be very awesome if you Moved this topic to the Scam Accusations Board since most of us visit the board to report or see the latest scam.
Please ensure you follow the Scam Report Format (Use it to make scam reports properly)
Cheers.

xBTCe is fake exchange controlled by FxOpen to manipulate all their clients

Reference Link:
http://www.xbtce.com/
https://www.fxopen.com/

What happened:
They fake everything : volume, prices, transactions.

1. When you send (crypto) pending buy order with price between current Ask&Bid, your price will NOT appear in their MT4 ticker. Their BID will stay under your price, just like your bid is non existent. But WHAT is generating FxOpen ticker changes then? Their SCAM BOT !!

2. BUT.... your FxOpen MT4 pending order WILL appear immediately in xBTCe WEB order book. So, FxOpen sends all client orders to be executed on xBTCe which sounds ok BUT as you can see on xBTCe chart, they have 4-5 (ETHUSD) transactions DAILY (*changed after I have reported this at forexpeacearmy.com, read below)

4-5 daily ETHUSD transactions before I have reported : http://oi64.tinypic.com/2d9xk3l.jpg

3. ALSO when you place a pending order through FxOpen, xBTCe CHART BAR changes !!! Like that pending order was executed trade but it wasn't !! Trading chart bars should be generated by transactions not by open pending orders. But they are not having transactions as said above so they are faking bar changes. Same thing happens at FxOpen MT4 but their chart bar prices are result of their own fake ticker chart, not generated by client orders but by their bot. So their trade bar charts are also ticker charts.

5. Fees&Spread. Their Ask&Bid (both xBTCe WEB and FxOpen MT4) on ETHUSD (in 99% of time for the past several months) is over 1.2% (that's 1.20USD for every 100 USD). FxOpen MT4 crypto trading fee is 1%. So if you margin trade on MT4 you will pay almost 7% of fees (huge spread can be called fee specially because that spread is made by their BOT). So with 50% lost trades you can't make money not even in high volatility market as crypto. Any trading strategy will make money only for them !


CHANGE 1 : couple of weeks after I have wrote about this on forexpeacearmy.com they have started to generated FAKE TRANSACTIONS. If you check xBTCe ETHUSD you will see hundreds of transactions but all between 0.1 and 0.2 ETH and for BTCUSD hundreds of transactions all 0.01 BTC.

CHANGE 2 : Today at their server time 17:00 (30min chart) I have noticed that xBTCe ETHUSD chart was frozen but transactions were rolling !! Highs for several bars stayed the same (119.84196) but Lows were changing because they are faked as said above. Some transactions were even Higher that that frozen High !! How's that possible? Because everything is faked on xBTCe - FxOpen !!

Don't forget that FxOpen is related by FBI to the former scammer exchange BTC-e.  FxOpen operates in Russia, UK, Australia and Egypt(?)
https://financefeeds.com/fbi-implicates-several-fx-brokerages-btc-e-investigation-cryptocurrency-sure-fire-way-destroy-brokerage/

Check images for fake High bars and bot controlled transaction sizes:

ETHUSD : http://i65.tinypic.com/wlbo6g.jpg
BTCUSD : http://i66.tinypic.com/6iv2hg.jpg