Quote from: pitan on July 05, 2013, 03:31:55 PM

I think you failed to point out that we are at the mercy of the currency rate depending on who processes the deposit/withdrawals to whatever overseas exchange. And why do you keep attacking FYBSG. You should know how people are and how big the current btc market is like in Singapore.

Every other exchange is also at the mercy of the deposit/wdl processing. Yet their trading fees are much lower.
That's not the point though: at FYBSB there is no api trading, and therefore no arbitrage to the exchanges overseas. So, there is no liquidity, plus much higher fees. That's preventing FYB from growing and keeps the rate artificially high.

92sgd has been at the top of the bids for hours now during a worldwide down trend, but no trades have happened at FYB in that price range. Until FYB becomes a real arbitraged exchange with an API that's actually used, and competitive trading fees, it's better for ordinary people just to exchange through LocalBitcoins.com or something. Right now, FYB is a joke, but wants to charge top dollar! Cheesy

The Singapore market isn't big, but the world of traders interested in trading SGD is...