Re: [ANN] SimpleFX.com - forex broker with BTC and LTC crosses and 1:500 leverage
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Hello,
Thank you for a review of our platform and service, we will take under consideration all of your notes.
- Withdrawals are indeed processed manually which can take max up to 24h. Waiting period depends mostly on the time of day in which the request was made and on the number of requests waiting in the line to be processed.
- Low liquidity may be an issue sometimes since we rely on a single exchange, but this is about to change because we are finishing tests of a new solution, so stay tuned
Hello Po,
my only problem, and it is not your fault, but rather the design setup of mt4 , is that shorting on a BTC denominated account is quite fruitless and very dangerous. in order to short 10btc to preserve your value, you would have to short 10btc. since shorting on a 1:1 basis on something as valuable as bitcoin, it is quite dangerous, in the case of prolonged short squeeze.
therefore it is best to short by using an exchange and simply withdrawing to USD. that way you can be assured of that you do not bust your account.
That being said, your platform is very powerful when going long, b/c your account is denominated in BTC.
So in the future I will simply load a USD (for shorts)and a BTC (longs) account to mitigate this problem.
otherwise it is quite a satisfactory platform for my uses, and wish you future success.I am excited to see your progress!