Does this actually auto trade
Glad you got it sorted. One thing that might help performance is reducing the amount of bars for history and chart. Under Tools/Options/Charts. However, traders should be cautious and investigate the reasoning if this happens frequently on a live account. If you install a vanilla copy of MT4, without any indicators or anything that might stress your system, and the problem persists, I might seriously consider changing brokers.
Everyone has good things to say about CryptoRocket, but for a broker with crypto in the name these spreads are the worst I have ever seenā¦even on ā ā ā ā -tier bucketshop exchanges.
You will likely not find a broker that offers reasonable trading conditions for cryptocurrency. Better to stick with crypto exchanges. That being said, this is more true for scalpers than swing traders.
Yea, no ā ā ā ā Marco
I guess everyone trading there is trading things other than Crypto
Thanks for the reply.
Evolve ādoesnāt accept US citizensā, similar to BitMEX with no KYC and crypto only transfers a VPN is all you need - spread is $1-$2 right now, and consistently. I hate to keep sounding like im hawking it but, Im not posting a reflink :D, Iām realizing how nice the conditions are, at least for BTCUSD pair
Curious about what they charge for fees/commissions round-trip, and what their lot sizes are like. Ospreyfx had reasonable spreads, and even 0 spread for LTC/USD fairly consistently for some time, but their contract specifications for cryptocurrency were way off. The lot sizes caused the commissions to be overly excessive, rendering them useless. Bybit is similar to Bitmex, except, it is a lot easier to circumvent their detection protocols as they seem to be a lot more lax about deterring US traders.
Minimum 0.01 lot for BTCUSD, standard %0.075 crypto exchange fee per side, %0.15 round trip. overnight fees normal as well. Have only been trading 3 months or so with them but conditions have improved a lot in the last few weeks.
I agree about Bybit and have switched over from Bitmex completely.
Wait, so itās an exchange? I misunderstood. Looks like the typical 15% if trading at 100x. When trading directly on an exchange, you should typically not see any spreads when trading a major asset like BTC, other than the contract precision, which is usually around 0.5. Slippage can be a real issue when trading large volume of cryptocurrency, though. One of the major advantages of FX is the massive volume.
Personally, I am not impressed with what has become the standard -0.075 taker fee. I would like to see this improve over time. I would also like to see trading volume increase. Since cryptocurrency is so decentralized, with multiple exchanges trading at different valuations and trading volume, progress may be slow.
One would hope that this would help foster innovation and pave the way for better trading conditions as more competition enters the market, but with most following suit with their predecessors, creating cookie-cutter offerings, they really are not providing much additional value, and are really only diluting the overall volume potential that could help curb slippage.
Iāve seen some exchanges that offer slightly better trading conditions, but their volume is crazy low. The exchanges that offer better volume, have really poor interfaces, high trading fees and/or are not US-friendly. Some have API integration, but most do not have MetaTrader options et alā¦
I started out trading cryptocurrency, but transitioned to FX. Mostly indices, specifically, and I have found that the conditions are more favorableā¦ for now, at least. That said, there are pros and cons to each.
I agree on all points here, man.
The 0.15% round trip is garbage, but already becoming a competition point, with exchanges such as Phemex offering 0% commission now, and others starting to offer incentives that drop the fee closer to 0.1% or lower. They will start to drop as time goes on, I would hope.
Crypto exchange for crypto trades ByBit
What does everyone know about crypto and/or BTC cards? Iām doing some Google searching right now, nothing jumping out at me.
Basically, the idea in my head would be transfer BTC from your offshore broker into your personal cold storage, then (somehow, magically) transfer your BTC from cold storage into some sort of crypto debit card to use at ATMs and stores.
Sounds pretty easy in theory. Does that exist with a trustworthy company? Iām sure there would be card fees involved, and Iām sure the US government wouldnāt be happy.
Iām finding some cards, but they are attached to an exchange, which I donāt want.
Yes, one would hope. But some of these companies may also be baiting new customers with shiny offerings that may change once their user base reaches a certain level. They have to attract investors for liquidity, after all.
.
Yes, there are some offerings for this. Crypto.com is one. It is too soon to personally feel comfortable vouching for any. Typically, they work as you sayā¦you transfer crypto to one of their soft wallets that they assign for you, and it works similarly to a prepaid visa credit card. When you make a purchase or withdraw money from an ATM, the crypto is immediately transferred into fiat, allowing the exchange to happen. In such cases, the merchant does not need to have any accommodations in place for cryptocurrency. Depending on the provider, there may be fees and limits, with different card offerings, as well as rewards and a staking system in place. When you need more money on the card, you just transfer more crypto to the soft wallet.
Hereās an opinion on FXChoice: they are a very safe broker, a very trustworthy broker, but they go out of their way to limit what you can trade and when you can trade. They have limited indices, limited crypto, no stocks compared to other offshore brokers, you canāt trade news or even some session opens.
But take EagleFX or Crypto Rocket - you can pretty much trade anything you want, any time you want, itās your money itās your choice. But letās be honest - in the back of your mind you think the same thoughts I think - they could literally disappear overnight if they really wanted to and you canāt do anything about it. I feel good about those 2 brokers, Iām 99% sure they will not disappear - but they could, because thatās the deal on the table with unregistered offshore brokers.
So do you want safe, but controlled? Or do you want freedom at the edge of a cliff? LOL
Thatās the choice. I say get a copy trader and use good risk management, and do both, because why not?
eaglefx and cryptorocket are on my trusted brokers list. best part i get my withdrawals within 4hrs regarless of size
Do you trust them enough to keep a seven figure trading account with them? I personally wouldnāt, only because they arenāt registered internationally, thatās all Iām really saying. I trust them plenty to keep maybe $10k or $15k in there to trade with and use for daily withdrawals.
yes i do trust them with large amounts
I agree with SmallPaul, Eaglefx has been great.
I personally experienced way too many MT4 freeze-ups with CryptoRocket to feel comfortable with them. I have tried to have them address the problem multiple times, only to be treated like an idiot with claims that the problem is on my end - even though the problem persisted on multiple, fresh/vanilla installs of MT4.
This kind of thing may or may not be a valid reason for not trusting them, but unfortunately, I may never know since they refuse to properly investigate the cause.
i have experience the same but nothing shady as of yet, i must add im more of a swing trader so the freeze ups donāt hurt me unless im trying to get out of a trade and so far that never happen , if anything shady comes up you guys will be the first to know