I think it's still only amateurs or the exchange trading against itself at FYB-sg. That's why the price is staying so much higher during this last downturn. It would be about 5$ lower right now if there were professional traders, but they won't go there because FYB chages 3 times more than the BTC-e for example.
They say it's to cover development costs, but their trading interface is one of the lamest and most primitive I've seen.
The reason FYB is not growing is because they charge too much.
They say it's to cover development costs, but their trading interface is one of the lamest and most primitive I've seen.
The reason FYB is not growing is because they charge too much.
If you think the price is $5 too high - sell some BTC.
Deposits and withdrawals are free and FYB charges won't eat up the price difference.If you have SGD and want to trade BTC, BTC-e will charge you fx into USD and very significant wire charges. I'm not saying fyb-sg is super-cheap, I wish it was cheaper, but they need more volume to get there, I'm sure they would lower their fees if volumes went up.