Anyone Using Bitcoin Brokers?

mlawson71 posted:
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)

It is not an actual hardfork as being discussed and had a long debate on this. Rather the new coin Bitcoin cash(BCC) is just another altcoin out there, but it uses the exact same code and same transaction history of the Bitcoin.

It is being done by a group of BTC miners just for their own benefit from mining fees. Since BTC source code is opensource and hence, any group having large amount of BTC can copy it and claim to have a new coin. But it can't be called a real hard fork.

In real hard fork the total number of coins will be divided in to 2 types of coins in each wallet. Here it is opposite. Here the total number of coins will be doubled one of each type for each wallet. So if BCC price will be anywhere equivalent to the price of BTC current price, then one night millionaires will be made in 24 hours since their BTC count will be doubled in one day.

leo23 posted:

mlawson71 posted:
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)

It is not an actual hardfork as being discussed and had a long debate on this. Rather the new coin Bitcoin cash(BCC) is just another altcoin out there, but it uses the exact same code and same transaction history of the Bitcoin.

It is being done by a group of BTC miners just for their own benefit from mining fees. Since BTC source code is opensource and hence, any group having large amount of BTC can copy it and claim to have a new coin. But it can't be called a real hard fork.

In real hard fork the total number of coins will be divided in to 2 types of coins in each wallet. Here it is opposite. Here the total number of coins will be doubled one of each type for each wallet. So if BCC price will be anywhere equivalent to the price of BTC current price, then one night millionaires will be made in 24 hours since their BTC count will be doubled in one day.

Not sure where you got your info leo23, but almost everything you said is not accurate.

It is in fact a true hardfork (you don't get a non-actual fork, a fork is a fork, soft [reversible, little impact update, backward compatible] and hard [major non-reversible update, a new system, cannot work with older versions].

The voting is done by miners, a command (or switch) is added to signal their vote when mining, miners do not create coins, they just mine the coins from a blockchain created by developers. [or more accurately extend the blockchain in echange for coins]

BCC will be created as the fork of BTC, anyone with BTC will get the same amount of coins in BCC, there is no doubling of existing BTC coins. You will need your BTC wallet private key imported into a BCC wallet to get access to the BCC, if you have your BTC on an external wallet where you don't hold the private key, chances are you will forfeit any BCC. BCC is currently estimated to open on exchanges at approx $230 per BCC, this is a guess at best, so anyone thinking you will double the value of your BTC on a 1:1 ratio are in for a surprise.

any group having large amount of BTC can copy it

Anyone with developer skills can make a pull request for the code and create their own coin, not sure where your reference to a 'group with large amount of BTC' has anything to do with this. I can make a pull request now and create a coin in about an hour with no BTC, the success of the coin depends on my vision for the coin, it's functionality and ultimately the online community <-- that is why Bitcoin clones don't last, new coins have to have a unique function and revolutionize the Blockchain technology to succeed.

Regarding bitcoin brokers, if you are an Alpari client (the non-bankrupted branch of it, obviously), keep in mind that the broker announced that that there will be some changes to the CryptA Capital investment portfolio. Namely, requests for the purchase or redemption of tokens (as well as the rollover process as a whole) may be suspended until August 4th, 2017. (https://www.forexbrokerz.com/news/Alpari-warns-of-changes-to-CryptA-Capital-investment-portfolio)

Furthermore, the broker says that it reserves the right to make changes to the composition of the CryptA portfolio and if this happens, it will notify each client separately.

https://www.earnforex.com/bitcoin-forex-brokers/

xgavinc posted:

leo23 posted:

mlawson71 posted:
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)

It is not an actual hardfork as being discussed and had a long debate on this. Rather the new coin Bitcoin cash(BCC) is just another altcoin out there, but it uses the exact same code and same transaction history of the Bitcoin.

It is being done by a group of BTC miners just for their own benefit from mining fees. Since BTC source code is opensource and hence, any group having large amount of BTC can copy it and claim to have a new coin. But it can't be called a real hard fork.

In real hard fork the total number of coins will be divided in to 2 types of coins in each wallet. Here it is opposite. Here the total number of coins will be doubled one of each type for each wallet. So if BCC price will be anywhere equivalent to the price of BTC current price, then one night millionaires will be made in 24 hours since their BTC count will be doubled in one day.

Not sure where you got your info leo23, but almost everything you said is not accurate.

It is in fact a true hardfork (you don't get a non-actual fork, a fork is a fork, soft [reversible, little impact update, backward compatible] and hard [major non-reversible update, a new system, cannot work with older versions].

The voting is done by miners, a command (or switch) is added to signal their vote when mining, miners do not create coins, they just mine the coins from a blockchain created by developers. [or more accurately extend the blockchain in echange for coins]

BCC will be created as the fork of BTC, anyone with BTC will get the same amount of coins in BCC, there is no doubling of existing BTC coins. You will need your BTC wallet private key imported into a BCC wallet to get access to the BCC, if you have your BTC on an external wallet where you don't hold the private key, chances are you will forfeit any BCC. BCC is currently estimated to open on exchanges at approx $230 per BCC, this is a guess at best, so anyone thinking you will double the value of your BTC on a 1:1 ratio are in for a surprise.

any group having large amount of BTC can copy it

Anyone with developer skills can make a pull request for the code and create their own coin, not sure where your reference to a 'group with large amount of BTC' has anything to do with this. I can make a pull request now and create a coin in about an hour with no BTC, the success of the coin depends on my vision for the coin, it's functionality and ultimately the online community <-- that is why Bitcoin clones don't last, new coins have to have a unique function and revolutionize the Blockchain technology to succeed.

We are now mainly focusing on Cryptocurrencies and hence, we do proper research before posting here. The information which we posted was not wrong.

You can see what happened on August 1st. There was no actual split of coin. It simply means a group of traders decided to create a new chain from the existing chain of BTC using same source code. That's all. That's why everyone who saved their private keys and kept their BTC in hard wallets got same amount of BCC as well.

But in case if a real hard fork would have happened, the actual BTC value would have divided by 2 having two different coins in two different wallets. But in this case the equal amount of coins were created after chain split.

That's the reason there was a huge volatility in BCC on 1st 2 to 3 days. It oscillated between 200 USD to 600 USD and back to 200 again, because all the free BCC were dumped to convert to BTC and BTC jumped high to cross 3300 USD because of conversion of free BCC to BTC.

TiffanyK posted:
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 :)

Hello Tiffany after all the time do not do these these withdrawals with bitcoin?

I do not know if I would trust the lists that recommend you, I usually prefer to try small amounts and if it works well for mene from a list from a different forum, however I'd be more

This is not a recommendation of a broker. This is just my anecdotal experience:

I have deposited and withdrawn bitcoins multiple times this year from forex broker JAFX.
The transaction usually takes 1 hour to be completed.
The fee, specially when withdrawing are a little bit to high in my opinion.

Is the fee to high to make any money?

Well, I am not an expert on this, but I suspect that for BTC withdrawl/deposit JAFX charges a fee equivalent to the spread + comission they would have to pay if they were trading BTC/USD... if the spread at the moment of the transaction is high, they will charge you high. Their website states they do not charge any commission, but I highly doubt it.

If you are planing to withdraw/deposit frequently (as I was mistakenly doing) it may be way better to use other payment method.

What bothers me is that JAFX is apparently not regulated. (https://www.forexbrokerz.com/brokers/JAFX-Review) and it is owned by a person who has been running a binary options trading signals site and who is also being accused of running a Ponzi scheme. On the other hand there are also satisfied clients like you, so who knows.
I generally recommend sticking to regulated brokers.

mlawson71 posted:
What bothers me is that JAFX is apparently not regulated. (https://www.forexbrokerz.com/brokers/JAFX-Review) and it is owned by a person who has been running a binary options trading signals site and who is also being accused of running a Ponzi scheme. On the other hand there are also satisfied clients like you, so who knows.
I generally recommend sticking to regulated brokers.

I got an email two days ago that Dukascopy will be putting Cryptos on there platform soon.

Since I'm still a novice in trading, I do not dare trade by crypto-currencies. I did not even know someone can make a deposit/withdrawal using bitcoin. What are the advantages of the withdrawals? As I understand it, it happens anonymously. Do not you afraid a broker may accidentally withdraw money someone else exept you?

Jimmblack posted:
Since I'm still a novice in trading, I do not dare trade by crypto-currencies. I did not even know someone can make a deposit/withdrawal using bitcoin. What are the advantages of the withdrawals? As I understand it, it happens anonymously. Do not you afraid a broker may accidentally withdraw money someone else exept you?

A good broker is very much needed to make money from this market.

You can buy bitcoin through exchanges and stockbrokers, or from other owners. Regardless of where you get it, consider the risks of investing in digital assets.

Xitradez posted:
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

Im using EagleFX for more than 2 years already. Good trading conditions and no issues at all. As long as i know they dont have any residential restrictions so take a look at them.

Actually, as far as I concerned, plenty of brokers which provide traders with cryptocurrency trading have bitcoin trading. There are particualr cryptocurrency brokers which specialize only on cryptos, nevertheless I beleive that it's much more convenient to have a broker, which offer both cryptotrading and forex trading. Some traders often are tired from cryptotrading and want to trade some other assets. That's why the vast majority of brokers nowadays offer several trading instruments in order to let traders fulfill their needs. To my mind, the main idea pf bitcoin broker is that it focuses certainly on btc in order not to distract traders from trading.

Looks like many people in this thread have the wrong end of the stick... He is asking about brokers who accept BTC deposits for trading capital and not trading Bitcoin itself....
I have tried a few of them. My favorite so far has been CedarFX. They offer all the usual FX pairs, a fairly wide range of crypto and a heap of stocks - all tradable via leveraged CFD....
I personally believe in the long term growth of Bitcoin, so am happy to use it for capital and keep building it for the future. Short term volatility does not bother me.

Smith2525 posted:
Looks like many people in this thread have the wrong end of the stick... He is asking about brokers who accept BTC deposits for trading capital and not trading Bitcoin itself....
I have tried a few of them. My favorite so far has been CedarFX. They offer all the usual FX pairs, a fairly wide range of crypto and a heap of stocks - all tradable via leveraged CFD....
I personally believe in the long term growth of Bitcoin, so am happy to use it for capital and keep building it for the future. Short term volatility does not bother me.

Agree with your point about the wrong end of the stick. I actually don't trade BTC but have some and have used it to fund an account I have with Hugosway which I then convert to £ and trade forex with. Again, a broker that's been doing it for a while now. Not here to argue for or against regulation as I use broker with and without but there are some reliable unregulated ones out there that allow people to do this which get them around strict rules by regulators like the FCA and CFTC. The quick withdrawals are argulably better than the deposits if I'm honest and as good a reason to use the method as any. Quicker than my IC Markets and IG accounts.