1Broker connects Bitcoin with global markets. You can trade stocks, commodities, indices, cryptocurrencies and Forex markets with customizable leverages. No hidden fees, tight spreads, a minimalist trading interface and a social trading system are 1Broker's key features.
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Patrick - February 24, 2017
EVERY TRADE YOU MAKE IS A TRADE AGAINST THE BROKER. THEY ARE PLAYING AGAINST YOU.
Also had huge withdrawal issue. I basically issued a 0.5BTC withdrawal and it did not confirm for 7 hours. Contacted support, the guy took a day to get back to me, saying it's not his fault. My withdrawal is still not confirmed, they're not willing to pay miner fee.
nope - February 11, 2017
Owner admitted they are market maker in their post below me, which I didn't know (if I had I would have never deposited), which means they take the opposite side of all my trades. This creates an unpleasant and big conflict of interest between me and the broker. I now see why the price feed they provide and control moves randomly to either 1) hit my stops or 2) hit my liquidation price.
"Market maker " is a more professional word for "bucket shop" in the forex world. The broker literally buckets trades and never routes them anywhere, with the expectation that you lose, because your loss is their profit. They would basically not be able to run a business if their traders didn't lose money on the platform.
I am not sure where they're based, but they definitely are not regulated. Euro area regulation has explicit provisions against brokers trading against their clients. I understand this is all based on bitcoin, but regulators are catching up to and cracking down on operations like this pretty quickly, in particular in the Euro area. Would not be surprised if this site goes suddenly dark because of this.
See as example: http://financefeeds.com/no-trading-clients-european-regulator-cites-conflict-interest-financefeeds-investigates/
Absolutely not reputable and transparent as they claim. Please do your research if you're just getting started.
Patrick-1Broker - February 3, 2017
We started 1Broker back in 2012 with the goal to operate a reputable and transparent service (which is quite rare in our industry). Really much time and love was put into this software, hence it's extremely frustrating to receive 1-star ratings without anyone contacting us about these issues before:
"Spread manipulation": We have fixed spreads for all markets except BTC/USD. They actually never change. The reason for not having fixed spreads on BTC/USD is the extreme volatility and low liquidity sometimes. It is not unusual that the price moves by more than 5% in one hour.
"1Broker is a market maker": Yes, that's correct. But so is every other CFD platform offering (highly leveraged) Bitcoin-settled trading. There is no way that to route a 100 BTC forex trade into the fiat order books, without charging enormous fees.
"Leverage interest is obnoxiously high": The maximum is 0.1923% per weekday (BTCUSD). That's quite high yes, but it's necessary to operate this market in a profitable way. For the rest of our markets we charge 0.015-0.02% per weekday. Our fees page clearly lists these rates and we do not try to hide them in any way.
"UI/UX is amateur and very buggy": I like it. If anyone finds bugs, please let us know and they will be fixed with the next update.
"Stop hunting": Since I wrote this part of the trading engine myself, I can assure that there is no stop hunting going on.
In general I find it very strange that these negative ratings directly mention our competitors, but make up your own mind. I do not want to make the bold claim that 1Broker is the best service you'll find, but there is actually a cool feature that most platforms offer: Minimum amounts for trading are lower than ever before. I suggest that you try out all services with minimum amounts and choose the one you like most.
Harim - February 1, 2017
100% agree with Tony, this service is basically a broker trading against you. NO transparency in price feeds, they manipulate spreads and fees as they see fit to try to liquidate or stop hunt you.. UI/UX is amateur and very buggy.
Stay away, use more reputable services like Whaleclub.co
BullQing - January 15, 2017
LolaTrade - January 2, 2017
The fees and spreads are extremely low (I don't understand what the other commenter is talking about; probably made a few bad trades and blames 1b). 1 pip fixed on EURUSD and 0.0154% per weekday is really good.
I once had a problem where they had an outage for 10 mins, but after contacting them they refunded me the losses for this timeframe without any hassle!
Can recommend 1Broker :)
Tony - December 29, 2016
They hike up spreads at the worst times so they can bankrupt your positions. They're essentially a MARKET MAKER so every trade you make is a trade against the house so they do everything in their power to make you lose.
Stay away from this shit, don't make the same mistake I made. Ate up my 2BTC deposit in less than a day.
The leverage interest they charge is obnoxiously high, over 300% a year for fuck's sake!! This place is a beginner trap, run by amateurs. They're trying to attract people who don't know how to trade so they can fuck them over...
Use something more pro like https://whaleclub.co or https://simplefx.com which both allow you to trade the markets with a bitcoin deposit.
Crypto83 - December 15, 2016
watermelon15 - December 12, 2016
Dariano - December 9, 2016
4 stars because no EUR deposit (yet?).
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