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Anyone Using Bitcoin Brokers?
Apr 20, 2017 at 10:46
Hey guys, I've searched forums and googled for FX Brokers that allow deposits and withdrawals for Bitcoin, but I haven't really come across people who are using them . So I'd just like to know if any of myfxbook guys are withdrawing Bitcoin from brokers and which one is currently providing you a good service? I may just have to go with one from a list from a different forum, however I'd be more likely to consider deciding from others who have had experience and no major issues to date. Thanks in advance
Member Since Dec 11, 2015
1462 posts
Apr 24, 2017 at 11:25
If you’re interested in Bitcoin I strongly recommend staying away from OneCoin, they’re an international scam that has been investigated and warned about by regulators and law enforcement all over the world. (https://smnweekly.com/tag/onecoin/) There have been warnings and investigations in the UK, Latvia, Hungary, Belgium, Malta, Germany and others.
Member Since Mar 17, 2017
9 posts
Apr 27, 2017 at 12:17
I'm too scarred of Bitcoin trading. Way too volatile for me .
Member Since Dec 11, 2015
1462 posts
May 26, 2017 at 06:38
An update on the OneCoin fraud - after the German Federal Financial Supervisory Authority (BaFin) has issued a cease and desist order against the OneCoin MLM scam, state criminal police prosecutors from the North Rhine-Westphalia and local investigators of the city of Bielefeld, have opened an investigation. (https://smnweekly.com/2017/05/11/german-prosecution-launches-fraud-probe-into-onecoin-as-hungary-sets-up-task-force/) Meanwhile, the Hungarian c-bank Magyar Nemzeti Bank (MNB), has set up a task force to take “joint actions against certain elements of the alleged pyramid scheme OneCoin virtual currency”.
May 28, 2017 at 07:35
I read a lot about Bitcoin trading in the past few months – it is like a new “trend” in trading. Becoming more popular each and every day. But I’ve never seen something written about withdrawals with Bitcoins. Is this really possible? I mean the broker should have lots of Bitcoins at first place and maybe there will be a period when you can’t withdraw (right after you deposit Bitcoins). Please share your thoughts :)
Accept the loss as experience
May 29, 2017 at 11:10
Bitcoin is traded as CFD, so as far as I understand it you aren't trading physical Bitcoins, only price and the broker takes the other side of the contract. I traded Bitcoins with my previous broker, my current broker doesn't offer Bitcoin (or any other encryption currency) trading yet.
For every loss there should be at least an equal and opposite profit.
Member Since Dec 11, 2015
1462 posts
Jun 02, 2017 at 04:47
While most of the world is jumping on the bitcoin bandwagon – Japan even started accepting bitcoin as a regular currency – some countries are doing their best to ban bitcoin and other cryptocurrencies.
The Bolivian financial system supervisor, the ASFI, said local authorities have arrested 60 people who who were “presumably conducting training related to the investment in virtual currencies”. According to the statement, the offenders were apprehended last week by the a criminal special forces unit, while they “were carrying out training activities related to the investment of money with characteristics of multilevel activities” in a cinema hall in the city of Santa Cruz de la Sierra. (https://smnweekly.com/2017/05/30/bolivian-authorities-arrest-60-cryptocurrency-promoters/)
You can’t stop progress, in my opinion.
The Bolivian financial system supervisor, the ASFI, said local authorities have arrested 60 people who who were “presumably conducting training related to the investment in virtual currencies”. According to the statement, the offenders were apprehended last week by the a criminal special forces unit, while they “were carrying out training activities related to the investment of money with characteristics of multilevel activities” in a cinema hall in the city of Santa Cruz de la Sierra. (https://smnweekly.com/2017/05/30/bolivian-authorities-arrest-60-cryptocurrency-promoters/)
You can’t stop progress, in my opinion.
Jun 08, 2017 at 15:30
Is this real? Right now in Japan you can use Bitcoins as a second currency like the Japanese Yen? Wow... Hard to believe this.
My broker recently launched CFDs on BTCUSD and BTCEUR pairs. So I will look more onto this in the future.
My broker recently launched CFDs on BTCUSD and BTCEUR pairs. So I will look more onto this in the future.
Accept the loss as experience
Member Since Apr 17, 2017
5 posts
Jun 15, 2017 at 10:14
That's crazt. I see bitcoin as a speculative product rather than an actual currency
Member Since Dec 11, 2015
1462 posts
Jun 16, 2017 at 10:49
TiffanyK posted:
Is this real? Right now in Japan you can use Bitcoins as a second currency like the Japanese Yen? Wow... Hard to believe this.
My broker recently launched CFDs on BTCUSD and BTCEUR pairs. So I will look more onto this in the future.
Japan passed some legal amendments last year which only came into effect this April, legally classified Bitcoin as a recognized method of payment. (https://smnweekly.com/2017/05/03/japanese-forex-brokers-jump-on-exchange-bandwagon-as-bitcoin-price-hits-historical-high/) Since then Japanese retailers have slowly started accepting Bitcoin as a “proper” currency. According to some estimates, by this summer over 260 000 shops in the country would start accepting Bitcoin as payment.
Jun 23, 2017 at 08:43
TiffanyK posted:
Is this real? Right now in Japan you can use Bitcoins as a second currency like the Japanese Yen? Wow... Hard to believe this.
My broker recently launched CFDs on BTCUSD and BTCEUR pairs. So I will look more onto this in the future.
Yes, India has also just legalized Bitcoin. There are also Bitcoin ATM's worldwide (https://coinatmradar.com/countries/).
I am currently just mining crypto currencies and will trade one on one with companies and people, exchanges and crypto trading sites (not CFD's) right now are not stable in my view.
For every loss there should be at least an equal and opposite profit.
Member Since Dec 11, 2015
1462 posts
Jul 28, 2017 at 14:22
(edited Jul 28, 2017 at 14:23)
Forex brokers have started accepting Bitcoin, both as a payment method and a trading instrument. While the former is a good sign for crypto currency enthusiasts, the latter may create an issue. It essentially makes forex brokers compete directly with the established crypto-exchanges. I think that when it comes to trading cryptocurrencies one has to be aware there are some differences between using a Forex broker and a cryptocurrency exchange. (https://www.forexbrokerz.com/news/bitcoin-forex-brokers-compared-to-bitcoin-exchanges) And they should take that into account when deciding how to trade bitcoin.
Member Since Sep 12, 2015
1933 posts
Jul 29, 2017 at 17:13
Goldman sachs have been in talks before about using Bitcoins, some would like to brush in under the carpet but its just getting more popular, very interesting currency ,traded Litecoin which was more stable, see Ripple,Dash,NEM,Ethereum added recently.
"They mistook leverage with genius".
Jul 30, 2017 at 06:49
Yes, we are also mainly focusing on cryptocurrencies. As we have posted in one of our threads, there is a lot of money to be made in cryptos in the future since it is just beginning of cryptos where Bitcoin has proven its potential.
This is a good thread for crypto lovers. Now, the entire forex money will slowly start moving to cryptos and it may take long time of 10 to 20 years for the cryptos to become as large as forex, but it will be.
There are more and more brokers accepting cryptos for deposit and withdrawal as well as allowing trading with cryptos in mt4.
If anyone knows any more brokers who offers crypto trading in mt4 with low spread, then please post here.
This is a good thread for crypto lovers. Now, the entire forex money will slowly start moving to cryptos and it may take long time of 10 to 20 years for the cryptos to become as large as forex, but it will be.
There are more and more brokers accepting cryptos for deposit and withdrawal as well as allowing trading with cryptos in mt4.
If anyone knows any more brokers who offers crypto trading in mt4 with low spread, then please post here.
Artificial General Intelligence
Member Since Sep 12, 2015
1933 posts
Jul 30, 2017 at 13:43
Its a bit late getting into Bitcoin ,better to trade one of the newer crypto currencies.
"They mistook leverage with genius".
Member Since Dec 11, 2015
1462 posts
Jul 31, 2017 at 14:14
(edited Jul 31, 2017 at 14:15)
If you are trading bitcoins also keep in mind that the long-awaited bitcoin fork is coming on August 1st 2017 (i.e. tomorrow).The fork implies a new crypto currency, called Bitcoin Cash (BCC or BCH), will be created. In theory, you should receive one additional token, for each bitcoin you currently own. The word own is really important, as ownership in the crypto world is a bit more complicated. Some e-wallets and crypto-exchanges will support newly created coins, while others will not. (https://www.forexbrokerz.com/news/which-exchanges-will-support-bitcoin-fork)
Member Since Sep 12, 2015
1933 posts
Jul 31, 2017 at 19:06
Notice Litecoin is up 5% today ,maybe some Bitcoin switching ahead of tomorrow, can't see any price dip for Bitcoin tomorrow, most are in it for the long term.
"They mistook leverage with genius".
