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Discuss FxOpen.com ( FxEgypt)
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- Start date
General discussions of a financial company
1. When you send (crypto) buy order with price between current Ask&Bid, your price will NOT appear in their MT4 ticker. Their BID price can even under your price !! Just like your order is non existent. But WHAT is generating FxOpen ticker changes then ??????? Their SCAM BOT !!
2. BUT your bidding price WILL appear immediately in xBTCe WEB order book. So FxOpen sends all user orders to be executed on xBTCe which sounds almost ok BUT as you can see on xBTCe chart, they have 4-5 (ETHUSD) transactions DAILY.
3. ALSO your open buy order will generate xBTCe chart bar changes !!! BUT trading chart bars should be generated by transaction, which xBTCe does not have so they are using Ask&Bid prices to generate their chart bars making xBTCe crypto charts are actually TICKER CHARTS.
4. Same thing happens on FxOpen MT4 charts BUT their Ask&Bid are different of xBTCe because as said MT4 BOT is generating independent Ask&Bids as said above. So FxOpen MT4 crypto charts are also ticker charts, not trading charts !
5. Their (both xBTCe WEB and FxOpen MT4) Ask&Bid spreads 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%. With all that said you can't earn any money not even in high volatility market as crypto. IMPOSSIBLE unless you place just couple of trades a year. Any trading strategy will just make THEM money (not counting MT4 fee) !
6. They make money on your fee and on ALL of your open orders which they (xBTCe with FxOpen) back execute through some other exchange making money on every order because of high spread and will make again when you close your position because of high Ask&Bid spread.
Want to get scammed, open FxOpen account or xBTCe, which ever. And don't forget that FxOpen is related by FBI to former scammer exchange BTC-e.
2. BUT your bidding price WILL appear immediately in xBTCe WEB order book. So FxOpen sends all user orders to be executed on xBTCe which sounds almost ok BUT as you can see on xBTCe chart, they have 4-5 (ETHUSD) transactions DAILY.
3. ALSO your open buy order will generate xBTCe chart bar changes !!! BUT trading chart bars should be generated by transaction, which xBTCe does not have so they are using Ask&Bid prices to generate their chart bars making xBTCe crypto charts are actually TICKER CHARTS.
4. Same thing happens on FxOpen MT4 charts BUT their Ask&Bid are different of xBTCe because as said MT4 BOT is generating independent Ask&Bids as said above. So FxOpen MT4 crypto charts are also ticker charts, not trading charts !
5. Their (both xBTCe WEB and FxOpen MT4) Ask&Bid spreads 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%. With all that said you can't earn any money not even in high volatility market as crypto. IMPOSSIBLE unless you place just couple of trades a year. Any trading strategy will just make THEM money (not counting MT4 fee) !
6. They make money on your fee and on ALL of your open orders which they (xBTCe with FxOpen) back execute through some other exchange making money on every order because of high spread and will make again when you close your position because of high Ask&Bid spread.
Want to get scammed, open FxOpen account or xBTCe, which ever. And don't forget that FxOpen is related by FBI to former scammer exchange BTC-e.
Now couple of weeks after I have submitted above post they (xBTCe & FxOpen) have started to simulate trades.
So, after months of 4-5 daily ETHUSD trades as explained above, they are now having hundreds of trades daily! All in range between 0.1 and 0.2 ETH
Pathetic. But they will change it too after they read this post.
Adding: just checked their BTCUSD trades. Also hundreds of them, all 0.01 BTC
So, after months of 4-5 daily ETHUSD trades as explained above, they are now having hundreds of trades daily! All in range between 0.1 and 0.2 ETH
Pathetic. But they will change it too after they read this post.Adding: just checked their BTCUSD trades. Also hundreds of them, all 0.01 BTC
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Today at their server time 17:30 I have noticed that xBTCe (FxOpen) ETHUSD chart was down (no changes in the last price for over an hour) but their transactions were still rolling with different prices.
How's that possible? Because everything is faked on xBTCe - FxOpen !!
They are probably owned by the same owner. Read their company papers.
How's that possible? Because everything is faked on xBTCe - FxOpen !!
They are probably owned by the same owner. Read their company papers.
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fxo
FxOpen.com Representative
- Messages
- 16
Dear greatfx,
Yes, we admit that the price was not appearing in our MT4 ticker, only orders bigger than 1 lot (which is 0.01 BTC in our case) were appearing in the ticker. This condition has been changed since then.
2. We can not respond on behalf of xBTCe, but it's possible that some orders get into their market depth as the company is one of our liquidity providers.
We recommend you to forward these questions to xBTCe.
5. All the trading conditions including commissions are stated on the website. When a client opens a trading account, he agrees with the commissions.
If you have questions regarding xBTCe, kindly direct them to xBTCe representatives.
We would like to specify the essence of the claim to FXOpen and kindly ask you to provide us the order number for that claim so that we could go deeper into the situation as now we cannot even comment your claim.
6. We very much regret that such a professional client is engaged in black PR and makes unfounded allegations that do not correspond to reality, including the fact that "FxOpen is related to BTC-e." Over the 15 years of its existence, FXOpen has never committed fraud against its clients. Persons claiming FXOpen fraud could never provide facts to support their allegations. Probably because they were not real FXOpen customers ...
A professional client is distinguished by the fact that disputes like this one are submitted not only and not so much on the Internet as in independent arbitration, the costs of which, by the way, are paid by FXOpen, not by clients. It should also be noted here that FXOpen won all disputes in arbitration. This happens only because we are customer-oriented and will never even try to take away from the customer, which rightfully belongs to him or her.
Yes, we admit that the price was not appearing in our MT4 ticker, only orders bigger than 1 lot (which is 0.01 BTC in our case) were appearing in the ticker. This condition has been changed since then.
2. We can not respond on behalf of xBTCe, but it's possible that some orders get into their market depth as the company is one of our liquidity providers.
We recommend you to forward these questions to xBTCe.
5. All the trading conditions including commissions are stated on the website. When a client opens a trading account, he agrees with the commissions.
If you have questions regarding xBTCe, kindly direct them to xBTCe representatives.
We would like to specify the essence of the claim to FXOpen and kindly ask you to provide us the order number for that claim so that we could go deeper into the situation as now we cannot even comment your claim.
6. We very much regret that such a professional client is engaged in black PR and makes unfounded allegations that do not correspond to reality, including the fact that "FxOpen is related to BTC-e." Over the 15 years of its existence, FXOpen has never committed fraud against its clients. Persons claiming FXOpen fraud could never provide facts to support their allegations. Probably because they were not real FXOpen customers ...
A professional client is distinguished by the fact that disputes like this one are submitted not only and not so much on the Internet as in independent arbitration, the costs of which, by the way, are paid by FXOpen, not by clients. It should also be noted here that FXOpen won all disputes in arbitration. This happens only because we are customer-oriented and will never even try to take away from the customer, which rightfully belongs to him or her.
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