XBTFX - Reviews (STP, EA, crypto)

[Day]

I found an interesting broker on the babypips forum (offshore thread for US citizens). In short, no restrictions. Deposit from 1 dollar, while withdrawing money to the interbank market. For all that, registration by e-mail. As for me, everything is too good, and therefore suspicious. What attracts on the one hand and scares on the other is that there is no account verification, which is needed to withdraw money. Who thinks what?

 

[Enivid]

You better just burn your money - at least you would enjoy a nice bonfire.

PS: What is "withdrawing money to the interbank market" even supposed to mean?

 

[Day]

I ment that orders go directly to liquidity provider. looked reviews also on forexpeacearmy...looks good

 

[Variss]

Do you mean STP as the interbank market??? But this is a common thing for crypto exchanges. You can trade with any amount on the exchange. This is the same analogue of the interbank market, is not it? At the same time, registration on the crypto exchange is by e-mail as well.

 

[Day]

Yes I agree. However, XBTFX also offers to trade with forex assets and even shares on a par with CFDs. I haven’t seen such assets on any crypto exchange, you know.

 

[bottomhigh]

Looks like they run dealing desk I would be double-down cautious if you want to hear my opinion

 

[Variss]

Yes I agree. However, XBTFX also offers to trade with forex assets and even shares on a par with CFDs. I haven’t seen such assets on any crypto exchange, you know.

You are confusing concepts or not fully understood. According to the trading terms, to buy a share on XBTFX, you must pay one hundredth of the lot. There are 100 shares in a lot, which means you need to have enough funds to pay for one share. It's not about one dollar. Everything is usual here. It would be suspicious if the broker offered to buy part of the shares, since this is not done in the real world. The fundamental difference between a crypto broker and a regular forex broker is in the symbiosis of functions. You only need an e-mail for registration, like on a crypto exchange, and at the same time you have a deposit in cryptocurrency, like on a crypto exchange. The broker buys assets of the real financial sector for itself, acting on your behalf. That's all.

 

[Day]

Well, that makes sense. Do you see any risk in having a cryptocurrency deposit? There is a chance to lose it without even trading.

 

[Jotori]

My answer will be that traders are the same investors, and investing is depositing money in order to make a profit. Investing will not work without confidence in success, and I am sure, because on the eve of voting for the President of the States, the crypto market is growing. Direct correlation with the dollar! This is the best example of the viability of the crypto market.

 

[Jotori]

Well, that makes sense. Do you see any risk in having a cryptocurrency deposit? There is a chance to lose it without even trading.

BTC. USDT and other - no worries for me at all. And then I do not remember a single case when some crypto-coin from the first hundred fell in price to 0. Stablecoin is one of the best choise if you worry

 

[Day]

I wish I had your confidence. At the moment, you can't be sure of anything!

 

[hk_09]

Well, go for that one only if you're sure enough. I personally haven't heard much about xbtfx. Be sure of their regulation and reliability before staking your funds in there.

 

[Dictorsto]

Hi guys, I am stuck with some xrp, and since it seems that there is not going to be some volatility in the near future I would like to exchange it for btc. I have seen that this broker works also as exchanger with low exchange commission. Does anyone here have some inside info if this is correct?

 

[Uellokar]

Hi, I have recently opened account for trading with this broker and deposited litecoins, so I had to exchange my coins, in order to credit my btc based account. So, I can confirm that this broker works also as exchanger.

 

[Dictorsto]

Thanx bro. Did you paid high commission for this exchange? And, is there difference if you just want to exchange coins without trading account?

 

[Uellokar]

In my opinion, conditions should be the same in exchange for everyone, but it is better to check. Here you just get a price, so you dont know what commission is included in price. But, since I have checked with current market prices, I have recalculated that it was little above 2%. But, I am not sure if it is same for all coins.

 

[Dictorsto]

Thank you for info, bro. It seems reasonable. I have checked with one other official exchanger and they wanted to charge me 10%!!?? I mean, I know that there are current issues with xrp, but it seemed to me like a robbery