I’ve been looking for a broker that has an API for index futures and ideally also futures options. I’m looking to use the API to build a customized view of my risk based on balances, positions, and market conditions. Searching the algotrading sub I found many API-related posts, but then when I actually read them and their comments, I found they’re often lacking in real substance. It turns out many brokers or data services that have APIs don’t actually support index futures and options via the API, and instead they focus on equities, forex, or cypto. So here’s the list of what I’ve found so far. This isn’t a review of these brokers or APIs and note that I have a specific application in mind (index futures and futures options). Perhaps you’re looking for an API for equities, or you just want data and not a broker, in which case there may be a few options. Also, I’m based in the US so I didn’t really look for brokers or platforms outside the US. If you have experience with these APIs, please chime in with your thoughts. Also, I may have missed some brokers or platforms. If I did or if you see anything that needs correction please let me know.
Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
Wow, this list grew longer than I originally thought it would be. If you spot a mistake, please let me know and I’ll correct it. Edit: - added Lightspeed API - updated Dashprime to indicate some of the APIs available - added Medved Trader to table - added marketstack to table
A Forex trader's success is often directly related to the Forex broker he/she chooses to conduct business with. If a trader chooses a broker who is unwise, unethical, and/or a combination of both, the trader could lose a substantial amount of money in the Forex market. It can be very difficult to determine which Forex brokers are reputable until a trader has traded real money with them. However, by this time the trader may have lost the money that he/she has invested. Forex Brokers Reviews Fortunately, there are online sites that provide informative Forex broker reviews to aid you in choosing the right firm for your trading needs. These sites have extensively tested the brokers' Forex platforms and trading conditions using real-money accounts and making real trades. This means that you don't have to invest your own money to determine whether a Forex broker is reputable and effective at handling your trades on the market. Some of the criteria that such sites use in their reviews include the safety of a trader's deposits and the honesty of the broker. The trader can conduct his/her own online research about a specific trader via online forums, ask direct questions to the firm, and seek information from the proper authorities. One of the essential things the trader must learn about the broker is whether the firm is regulated by government authorities. Another is whether the firm uses state-of-the-art measures to ensure that the trader's personal information and account details will remain safe from unauthorized access. Sites that provide Forex broker reviews can quickly give you this vital information. forex broker review A trader should also determine the spreads and commissions that the broker will receive when executing trades on the Forex market. The lower the level of commission the better it is for you. Any commissions over 3-pips in EURUSD trades should necessitate you finding another broker. There are quality firms that only charge 1-pip for EURUSD trades. It's important for you to find out the spreads and commissions that are charged by the brokers before deciding to employ them for your Forex trades. These are usually explained on the firm's website. A trader should look for a broker that only requires a small initial deposit. At the same time, however, the trader should also consider leverage and minimum lot size as well. The trader should also choose a firm that provides many ways to fund his/her deposit, including wire transfers, credit cards, and PayPal transfers. Sites that provide Forex broker reviews will usually list the ways in which you can fund your accounts. Top Rated Forex Brokers The trader should also find the right Forex trading platform to execute his/her trades. The platform should provide a comfortable and familiar interface to the trader and should also provide plenty of customizations options. The best way to find the right platform for you is to take it for a spin via a demo account, which most reputable brokerage firms now offer. Visit Here -Most Trusted forex brokers
WikiFX: the murky business and the murkier methods
https://preview.redd.it/1rf74ljv34l51.png?width=960&format=png&auto=webp&s=566235871ce22dd3078f0532dfb672bff6eb0707 The irony of financial markets is that this business that officially has got as much regulation as arms trafficking, has also got the same problem –- numerous illegal entities that evolve around the niche. Scam brokers, funds recovery services that rob the robbed traders, HYIPs, “learn how to make millions overnight” trading courses and a number of other schemes all tend to exploit the weak point of human nature – the belief that there is the magic device with the “MORE MONEY” button out there, that someone can sell you.
A thief shouting “Thief!”
Considering the above there is a high demand in society for truthful and unbiased information about the market players. WikiFX claims to be the provider of such honest information about brokers but in fact, makes money by blackmailing brokers and promoting any company that offers to pay enough in their rankings. WikiFX is a classic illustration of a thief shouting “Get the thief!” louder than anybody else in the crowd. The strategy works unfortunately and traders tend to trust WikiFx broker’s ratings without questioning what these ratings are based on and who sponsors this global brokers’ database.
Paving the road with some good intentions
Even the most horrible crimes against humanity were done under the cover of best intentions. Starting with the first crusades and ending with the holocaust. There are always some sound arguments, protected people and reliable methods. Ask any trader whether each forex broker must be regulated by a third party? The answer will be “yes” with a near 100% probability and this answer is totally correct. Know-your-customer procedures and some unbiased third-party control are essential for maintaining the overall transparency of any business in a sphere of finance. This is the argument that WikiFX starts with when promoting its service and there is absolutely no point to argue. Starting with an indisputable truth is a good strategy to win the debate. “The long-term presence on the market adds credibility”, – says WikiFX, and hears “yes” again. “Don’t you agree that the longer the company is in the business, the better?”. “Sure”, – the trader agrees one more time. The mission is completed. This is when the broker ranker can add any other criteria to their appraisal methods. Traders will tend to trust the service because they’ve agreed upon the most important criteria. The rest are minor details. But what if the rest of the appraisal methods are not just minor issues? What if these details can be the means to manipulate the facts as much as they want to?
Can WikiFX appraisal criteria be trusted?
If we take a look at any broker’s WikiFX rating, we can see that the criteria of appraisal are the following:
The year of registration
Market Making license
For example, this is what the top-rated broker’s summary looks like at WikiFX: WikiFX Forex com example https://preview.redd.it/t4ugtbt344l51.png?width=625&format=png&auto=webp&s=95fddf8434faf8938d1a3f18bbd5f1da2ceb47e4 Looks good. Really. Regardless of the attitude to this particular brokerage, the work seems to be done fine. All the regulators are listed below, the information on the used software, licensing, and years of operation is included. But what if we take some other random brokerage with one of the lowest rankings at WikiFX? NinjaTraderBrokerage WIkiFX Ranking https://preview.redd.it/pgyqp0u644l51.png?width=631&format=png&auto=webp&s=eb268faac83608a494c31a39eb1621f7132e3520 This is where the truth reveals itself. Once again, regardless of the attitude to this particular brokerage this is really easy to find out what they do, what licenses they’ve got and what kind of software they use. Suspicious clone? Seriously? If WikiFX staff cared enough to do any investigation prior to stamping that “Suspicious” mark on the brokerage, they would have seen that both domains, nijatrader com and ninjatraderbrokerage com belong to the same entity. NinyaTrader whois data https://preview.redd.it/2097lkw944l51.png?width=563&format=png&auto=webp&s=079cc4248b825a3cd941c6b691a67bb9769f4f7f If they cared enough to collect information on the brokerage from at least one reliable source, like Investopedia or any other similarly known database, they would also have found out that the company not only provides the brokerage service, but also is known for its trading platform with advanced technical analysis tools. But the only trading software that WikiFX considers reliable seems to be MT4/MT5. They simply ignore the fact that trading does not evolve around MetaTrader products, no matter how good and popular they are. WikiFX lowers the score of any brokerage with custom-developed software. We can clearly see this with the above example. Other criteria that WikiFX is proud to use for the broker’s appraisal are regulations. Using the same example let’s see how well they do the appraisal in this field. As you can see above, WikiFX used the “Suspicious Regulatory License” stamp for NinjaTrader Brokerage. And here is what The National Futures Association, that NinjaTrader is registered with as a futures broker has on its record: NFA regulation of NTB proof that WikiFX did not consider to be trustworthy https://preview.redd.it/di8fwkdd44l51.png?width=629&format=png&auto=webp&s=2de618d5df26bd8fcca99c51a6030f4bdfa7f776 We can’t expect every trader to know that any futures broker that wants to operate on the US market must be a member of NFA. This is the requirement of the Commodity Futures Trading Commission regarding the futures broker’s operations. But this is totally unacceptable for a broker ranking website, which WikiFX claims to be, to mark NFA-registered futures brokerage as non-reliable. By the way, did you notice on the above screenshot that NTB has obtained the NFA license in 2004? Yet, this does not prevent WikiFX from claiming that the brokerage has only been providing its services for 1-2 years only, instead of the factual 16 years of operations. We can long discuss the reasons that lie behind such selectivity of WikiFX but this random example clearly shows that any brokerage that provides access to non-forex derivatives trading or dares to suggest custom-developed software to its traders is in danger of receiving a negative review at WikiFX regardless of the factual reliability and regulations.
What lies beneath WikiFX selectivity?
WikiFX claims to have a team of professionals that are all involved in objective appraisal of broker’s services, licenses and used software. The methods used by these professionals remain unrevealed and as we see from the above comparison two similarly reliable brokerages can get any score from 1.0 and up to 10.0 at WikiFX, no matter what regulations they’ve got, for how long they’ve been in the business and what kind of software they use. This is difficult to say what lies behind such selectivity with 100% confidence. The first thing that comes to mind is that WikiFX might be affiliated with some brokers. The hypothesis gets even more realistic if we try to understand who sponsors WikiFX. There are no transparent built-in ads neither on the web-version of the website nor in its applications. There are no paid subscriptions for access to the database. This means that users sponsor the service with neither their attention to ads nor directly. Being the non-charity and non-governmental organization WikiFX can’t be sponsored with donations or a government. The only option that we have left is that brokers sponsor this ranking system directly, which automatically makes the whole system non-reliable and highly biased. The only transparent method that we know WikiFX uses to collect money is sponsorship fees they collect from their offline events participants. Let’s have a look at the exhibitors of the recent WikiFX Expo in Thailand. WikiFX Expo Exhibitors
TLC is a non-regulated investment platform that was founded in 2019
Samtrade FX is not regulated by any of the agencies that WikiFX itself lists as reliable
Forex4you is not regulated by any of the agencies that WikiFX itself lists as reliable
B2 Broker is a non-regulated broker
XDL FX is a non-regulated broker
VAT FX is a non-regulated broker Six out of sixteen WikiFX recent expo exhibitors do not have proper legal status according to the “standards” of WikiFX itself. This fact does not prevent them from promoting the services of these companies at their offline events. This conspicuous fact tells a lot about the attitude of WikiFX to common traders looking for reliable partners. Reputation is nothing but a sale item for this brokers’ ranking system.
Murky & Murkier
So far we’ve only discussed the facts that anyone can check himself using free tools and sources. It was not that difficult to discover that WikiFX uses non-transparent standards for brokers’ appraisal. It ignores the specifics of some brokerages lowering their scores due to non-standard derivatives they offer to trade or custom trading software. It also promotes non-regulated and non-licensed brokerages, which is 100% against the declared WikiFX values and mission. The rumors are that this company was also noticed blackmailing brokers with the purpose of making them pay for better reviews at WikiFX. There are also some signs that indicate suspicious promotion of WikiFX platform through social media and Quora. Some of the WikiFX positive reviews also look highly suspicious. All of the above is a matter of further investigation. Nevertheless, thousands of users keep relying on the information provided by this scam ranking system. It may even look like all these users are satisfied. WikiFX has got 4.5 starts at Google Play, which sounds good enough. However, positive WikiFX reviews use similar semantics and are also highly suspicious. Despite the high average grade, Google Play finds the following messages to be most relevant and brings them to the top of WikiFX reviews: Google Play most relevant WikiFX reviews https://preview.redd.it/kftutvcl44l51.png?width=532&format=png&auto=webp&s=1ccb74ee156388285a2fab711dd604945c04377c
You’ve got the facts now and it’s time to make your own conclusions.
I wanted to write a quick post in answer to the people who routinely make claims I have a history of stealing from people in my previous company and base this upon a blog they read. If you would like to discuss this further, please make a post and link it to me to engage on. I will do so as long as we deal with the facts of how a PAMM company really works. I won't engage in circular debates where the essential point is, "I don't believe you". You don't have to - that's not how any of this works. Just fact check.
I want to avoid Google ranking on this post. Although for my personal 'PR' it would be beneficial to aim to rank something answering claims, at some points in this some others involved in the company will not really come over in the best light. I assume it's likely these people are still involved things (Not spoke with them for 5 yrs) - It'd be unfair to rank bad PR on them. The failure of the company was squarely due to me. Anything anyone else did either would not have happened or not have mattered if I'd done better. I do not want anything I do now to further hinder anyone. So I will refer to names by only one letter (or number if applicable).
I found it strange at the time this ended up centred around the ponzi scheme side of things. There was a reasonable question to be asked and answered as to if it was a pyramid scheme. Were people signing up just to sign people up, or was there a core product of fair market value. The services sold I'd previously ran at the same sort of price point direct to market - so I felt on fairly good ground on that. Initially I's actually been a bit excited initially, because I was a reader of the blog in question and I liked the work they'd done on pyramid schemes. I thought I'd be able to either validate I was doing things right, or learn how I should be doing them better. I never thought the ponzi side of it would take any more than a few minutes to clear up. But that was not so ... A ponzi scheme was to all intents and purposes impossible. All of our business was done via three different brokers and all of our results publicly tracked with close to real time updates for marketing purposes. Of the three brokers we were using, two of them had good regulation. An off-shore broker had to be used for US clients, so this is the only one with any sort of question mark. All of our results over all the brokers were almost identical (Some execution/costs variance). The two regulated brokers were under different regulators. Most, if not all, the brokers held clients funds in segregated accounts. All brokers would have to have been fully complicit in the scam - and it costs more to get regulated than there was to steal. Logically, it could not have been so. We were using a PAMM model. This works by the client opening a brokerage account and signing a LPoA to allow trades to be copied onto their account. The LPoA grants the company no access to the funds. Money laundering laws also dictate the funds can only be redeemed to same source they were funded. PAMMs are big business. Protection of all parties is built into it, it's a well trusted model. This should have taken no less than 5 minutes to self verify. It could not have been a ponzi.
That happened. Turns out if you set up a PAMM in the Netherlands and then let a bunch of people refer investment to it this is classed as running a ... I can't remember exactly and even at the time it was in Dutch so I didn't personally read it all. The underlying problem was not the model in any way. We were told at the time we basically jut had to pay £2,000 for each country we did business in. We were global. At this time the company had neither the money to do that, or pay the fine they gave us for not having the money to do that. My mistaken assumption was that since when you run a PAMM you are basically piggybacking off the broker's licence, all was well and good. This was true - but the problem was sourcing. Paying people to refer investment was what we were fined for when you get right down to it.
This was just a headline. In many ways it's misleading. Firstly, nothing was stolen or even taken. It was lost or given away to clients who'd lost in the PAMMs that went bad. All the money lost was lost trying to get enough money to make good all the PAMMs. So it was not stolen, and there is nothing in anyway to imply that's a suitable word to use. In the blog, no explanation of that is offered. What seems to be inferred is that this was commissions due out to clients that the company kept. Even outside the above mentioned this would be wrong. All affiliates were paid. You will not find a single one who says they were not. Further to that, of all the funds invested into the company (We'll call the company '5') somewhere in the 60 - 70% range was sourced directly by me. Other funds were sourced by my co-founder. Investments were made through passive advertising without them being attributed to a refer. All in all, assuming we did not pay the affiliates and we had this much, $18,000 would be the number. Of the $180,000 somewhere a bit over $100,000 would have been mine. I never took that, and could not have "Stolen" it. I don't see the point in getting super technical on everything by going through how, but the number also probably wasn't $180,000. I think this was an overestimate made in a throw away comment by my co-founder (We'll call her 'M') who was (Justifiably) extremely angry at me at the time she came up with the number and added it in a post (Of this multi paragraph post, this one line and one number was taken - if memory servers, all context was left out when the blogger cited this as stolen. Which would make sense. The post was berating me for losing the money. That didn't fit the narrative.
What Backs the Story?
Of all of the claims of wrongdoing (Apart from the fine, which is documented and true) - there is no evidence proposed for any of the claims made. All of it hinges on a story told to the blogger by one person, who was another of my co-founders 'We'll call her 'E'. E was either a late teenager or very early 20s at the time. In the founding of 5, E was essential. Before 5 I'd been running a service selling trading signals and selling them at $5 a week subscription. I was generating a lot of business (Working all day, every day and having fun with it. Like I did here for a while, but at that time I really was marketing). 5 - 10 people a day could be signing up. I knew nothing at all about how to structure an online business. No listing of new clients to send emails. Nothing about making membership sites with password access etc. I was working off a Wix site I made myself with no on-boarding system in place. The volume of people joining was crushing me. I could not process them and was getting a lot of PayPal disputes. I wanted to send them the stuff. Just did not have the process to ensure this was being done. E stepped in and saved me on that. She made original 5 website (On Wordpress, I believe it was later upgraded to something else). Set up memberships payments. Automated listing. Also she suggested changing the name to what the company became. E made the work I was doing work. After that, she had varying performance. Her gripe in the blog is she was not paid for helping to found the company. Left out of this is the fact she was not paid because she was head of marketing and we were not getting enough clients. Almost all of them coming from me hitting the DMs and signing people up the old fashioned way. On results of trading, everything was going well (and this was my area). Things were going so well people legit through it must be a ponzi! But we did not have in-flow of clients. On this I again blame myself. I sort of assumed this would all work itself out and did not put focus on fixing problems before they became problems. There was a lot of pressure on everyone. E got into a new romantic relationship. I think she was heavily influenced by this person (I found E to be good hearted on the whole). E and M started to get along less and less. Then E and M seemed to hate each other. It all seemed to come from nowhere, but it quickly got to the point me and M felt it was not working with E, and she thought the same. Pretty much everything is based upon the story told to the blogger by E. As I've said before I found her to be a good heart overall and believe she was influenced into doing what she did, and would not have done it on her own gumption. Therefore I won't rip into her; but if you're reading, 'E' (Won't be lol) - that was a bit naughty, wasn't it? Little 'Economic with the truth'.
Why would the blogger post such big claims with no evidence?
People should ask themselves this on the first read through of the blog, to be fair. If you're a single source reporting on a story - tell how you know it's true. I think this mainly came down to revenge. After the ponzi thing I wrote blog line by line ripping the initial blog to bits. It was written in a very cheeky sort of tone, and what I was saying was right. He then played, "My blog's bigger than your blog" , on which he was right. If you think there is some smoking gun here in any way, just email the blogger and ask them how they know. What evidence were they ever given any money was stolen. There was none.
Money taken from the company:
In it's sad and drawn out end, cash on hand and assets within the company got down to around $10,000 and we were due out over 10* this to clients who I wanted to pay back. I was not bringing in new business (It seemed unethical to do until I fixed old problems - this was a miscalculation. No business was the big problem) and there was the 50K fine. The company was essentially bankrupt. I wanted to use the remaining 10K to have one last ditch effort to re-coup losses, or randomly select clients to pay the 10K to. M didn't. At this time we fell out (Forever). I have no idea what happened to that 10K. I think M probably kept it. At the time I was livid about that - but to be honest, after all the work she did she deserved something. Losing was not her fault. To 'M' if you're reading (Won't be), I'm sorry.
What went wrong?
I was not good enough. When I got ahead I thought I was coasting. I came from a background of having nothing and as soon as I started to make a few grand I assumed I was gliding to being a millionaire. I stopped learning. Stopped improving. I never watered what I planted, and it withered and died. I fail. Turns out you can not coast up a learning curve without ending up on your arse.
How to get started in Forex - A comprehensive guide for newbies
Almost every day people come to this subreddit asking the same basic questions over and over again. I've put this guide together to point you in the right direction and help you get started on your forex journey. A quick background on me before you ask: My name is Bob, I'm based out of western Canada. I started my forex journey back in January 2018 and am still learning. However I am trading live, not on demo accounts. I also code my own EA's. I not certified, licensed, insured, or even remotely qualified as a professional in the finance industry. Nothing I say constitutes financial advice. Take what I'm saying with a grain of salt, but everything I've outlined below is a synopsis of some tough lessons I've learned over the last year of being in this business. LET'S GET SOME UNPLEASANTNESS OUT OF THE WAY I'm going to call you stupid. I'm also going to call you dumb. I'm going to call you many other things. I do this because odds are, you are stupid, foolish,and just asking to have your money taken away. Welcome to the 95% of retail traders. Perhaps uneducated or uninformed are better phrases, but I've never been a big proponent of being politically correct. Want to get out of the 95% and join the 5% of us who actually make money doing this? Put your grown up pants on, buck up, and don't give me any of this pc "This is hurting my feelings so I'm not going to listen to you" bullshit that the world has been moving towards. Let's rip the bandage off quickly on this point - the world does not give a fuck about you. At one point maybe it did, it was this amazing vision nicknamed the American Dream. It died an agonizing, horrible death at the hand of capitalists and entrepreneurs. The world today revolves around money. Your money, my money, everybody's money. People want to take your money to add it to theirs. They don't give a fuck if it forces you out on the street and your family has to live in cardboard box. The world just stopped caring in general. It sucks, but it's the way the world works now. Welcome to the new world order. It's called Capitalism. And here comes the next hard truth that you will need to accept - Forex is a cruel bitch of a mistress. She will hurt you. She will torment you. She will give you nightmares. She will keep you awake at night. And then she will tease you with a glimmer of hope to lure you into a false sense of security before she then guts you like a fish and shows you what your insides look like. This statement applies to all trading markets - they are cruel, ruthless, and not for the weak minded. The sooner you accept these truths, the sooner you will become profitable. Don't accept it? That's fine. Don't bother reading any further. If I've offended you I don't give a fuck. You can run back home and hide under your bed. The world doesn't care and neither do I. For what it's worth - I am not normally an major condescending asshole like the above paragraphs would suggest. In fact, if you look through my posts on this subreddit you will see I am actually quite helpful most of the time to many people who come here. But I need you to really understand that Forex is not for most people. It will make you cry. And if the markets themselves don't do it, the people in the markets will. LESSON 1 - LEARN THE BASICS Save yourself and everybody here a bunch of time - learn the basics of forex. You can learn the basics for free - BabyPips has one of the best free courses online which explains what exactly forex is, how it works, different strategies and methods of how to approach trading, and many other amazing topics. You can access the BabyPips course by clicking this link: https://www.babypips.com/learn/forex Do EVERY course in the School of Pipsology. It's free, it's comprehensive, and it will save you from a lot of trouble. It also has the added benefit of preventing you from looking foolish and uneducated when you come here asking for help if you already know this stuff. If you still have questions about how forex works, please see the FREE RESOURCES links on the /Forex FAQ which can be found here: https://www.reddit.com/Forex/wiki/index Quiz Time Answer these questions truthfully to yourself: -What is the difference between a market order, a stop order, and a limit order? -How do you draw a support/resistance line? (Demonstrate it to yourself) -What is the difference between MACD, RSI, and Stochastic indicators? -What is fundamental analysis and how does it differ from technical analysis and price action trading? -True or False: It's better to have a broker who gives you 500:1 margin instead of 50:1 margin. Be able to justify your reasoning. If you don't know to answer to any of these questions, then you aren't ready to move on. Go back to the School of Pipsology linked above and do it all again. If you can answer these questions without having to refer to any kind of reference then congratulations, you are ready to move past being a forex newbie and are ready to dive into the wonderful world of currency trading! Move onto Lesson 2 below. LESSON 2 - RANDOM STRANGERS ARE NOT GOING TO HELP YOU GET RICH IN FOREX This may come as a bit of a shock to you, but that random stranger on instagram who is posting about how he is killing it on forex is not trying to insprire you to greatness. He's also not trying to help you. He's also not trying to teach you how to attain financial freedom. 99.99999% of people posting about wanting to help you become rich in forex are LYING TO YOU. Why would such nice, polite people do such a thing? Because THEY ARE TRYING TO PROFIT FROM YOUR STUPIDITY. Plain and simple. Here's just a few ways these "experts" and "gurus" profit from you:
Referral Links - If they require you to click a specific link to signup for something, it means they are an affiliate. They get a commission from whatever the third party is that they are sending you to. I don't care if it's a brokerage, training program, hell even an Amazon link to a book - if they insist you have to click their super exclusive, can't-get-this-deal-any-other-way-but-clicking-my-link type bullshit, it's an affiliate link. There is nothing inherently wrong with affiliate programs, but you are literally generating money for some stranger because they convinced you to buy something. Some brokers such as ICMarkets have affiliate programs that payout a percentage of the commission you generate - this is a really clever system - whether you profit or blow your entire account, the person who referred you to the broker makes a profit off you. Clever eh?
Signal Services, Education & Training Programs, Courses - If somebody is telling you they are making a killing with a signal service and are trying to convince you to join it, I guarantee they are getting a piece of your monthly fee. And better still, these signal services often work...for about a week. Just long enough to suck a bunch of poor fools into it. You see people making money, you want in so you agree to pay the $200+/month subscription fee. You follow the signals and it looks like it's making money for a few days or weeks. Then it turns sideways, you start losing money hand over fist. Pretty soon you have lost most of your trading account because you blindly followed a signal service. And better still - when you go screaming at the person running the signal service they will be very quick to point you to their No Refunds policy. To add insult to injury, the buttfucker that referred you to the signal service in the past will likely listen to you getting mad, and then come back with something like "Sorry it didn't work out, but I just joined this other amazing service and it's working great, you should come join it to earn your money back. Here's my link..." You get the point here right?
Multi-Level Marketing (MLMs) - These people are scum. They are going to offer you training and education, signals, access to forex experts and gurus, and all kinds of other shit with the promise that you will live the dream and become financially free. They are also loading you into a pyrmaid scheme where you will be hounded to recruit other people and make money off them just like you got roped into it. A really prime example here is iMarkets Live (or IML for short). Don't touch this shit with a 10 foot pole. I don't care what they are claiming, you will lose everything using them.
Fund Managers - These people make my skin crawl. It's a classic scam and it works like this - somebody will post online about how much money they are making trading forex/commodities/stocks/whatever. Most of the time they won't explicitly post they are offering a trading service, rather they just put the message out there and wait for the ignorant masses (that's you) to contact them. They will charm you. They will lie to you. They will promise you the moon if you simply wire them some money or give them API access to your trading account. Care to guess what happens next? If you send a wire transfer (or Western Union...hell any kind of payment to them) they will vanish. Happens usually after they take a bunch of suckers for the ride. You sent them $2,000 and so do 9 other suckers. They just made $20,000 and are gone. With API access to your account, you will find your account gets blown super fast or worse - possibly leaving you open to persecution by the broker you are using.
These are just a few examples. The reality is that very few people make it big in forex or any kind of trading. If somebody is trying to sell you the dream, they are essentially a magician - making you look the other way while they snatch your wallet and clean you out. Additionally, on the topic of fund managers - legitimate fund managers will be certified, licensed, and insured. Ask them for proof of those 3 things. What they typically look like are:
Certified - This varies from country to country, in the US it's FINRA (http://www.finra.org). They need to have their Series 7 certification minimum. You can make the case that other FINRA certifications are acceptable in lieu of Series 7, but the 7 is the gold standard.
Licensed - They need to have a valid business license issued by the government. It must clearly state they are an investment company, preferrably a hedge fund because they have some super strict requirements to operate (and often require $25,000+ in fees just to get their business license, so you know they at least have some skin in the game).
Insured - They need to be backed by an insurance company. I'm not talking general insurance for shit like their office burning down. I'm talking about a government-implemented protection insurance program - in the US I believe that is issued by the Securities Investment Protection Corporation (https://www.sipc.org/).
If you are talking to a fund manager and they are insisting they have all of these, get a copy of their verification documents and lookup their licenses on the directories of the issuers to verify they are valid. If they are, then at least you are talking to somebody who seems to have their shit together and is doing investment management and trading as a professional and you are at least partially protected when the shit hits the fan. LESSON 3 - UNDERSTAND YOUR RISK Many people jump into Forex, drop $2000 into a broker account and start trading 1 lot orders because they signed up with a broker thinking they will get rich because they were given 500:1 margin and can risk it all on each trade. Worst-case scenario you lose your account, best case scenario you become a millionaire very quickly. Seems like a pretty good gamble right? You are dead wrong. As a new trader, you should never risk more than 1% of your account balance on a trade. If you have some experience and are confident and doing well, then it's perfectly natural to risk 2-3% of your account per trade. Anybody who risks more than 4-5% of their account on a single trade deserves to blow their account. At that point you aren't trading, you are gambling. Don't pretend you are a trader when really you are just putting everything on red and hoping the roulette ball lands in the right spot. It's stupid and reckless and going to screw you very quickly. Let's do some math here: You put $2,000 into your trading account. Risking 1% means you are willing to lose $20 per trade. That means you are going to be trading micro lots, or 0.01 lots most likely ($0.10/pip). At that level you can have a trade stop loss at -200 pips and only lose $20. It's the best starting point for anybody. Additionally, if you SL 20 trades in a row you are only down $200 (or 10% of your account) which isn't that difficult to recover from. Risking 3% means you are willing to lose $60 per trade. You could do mini lots at this point, which is 0.1 lots (or $1/pip). Let's say you SL on 20 trades in a row. You've just lost $1,200 or 60% of your account. Even veteran traders will go through periods of repeat SL'ing, you are not a special snowflake and are not immune to periods of major drawdown. Risking 5% means you are willing to lose $100 per trade. SL 20 trades in a row, your account is blown. As Red Foreman would call it - Good job dumbass. Never risk more than 1% of your account on any trade until you can show that you are either consistently breaking even or making a profit. By consistently, I mean 200 trades minimum. You do 200 trades over a period of time and either break-even or make a profit, then you should be alright to increase your risk. Unfortunately, this is where many retail traders get greedy and blow it. They will do 10 trades and hit their profit target on 9 of them. They will start seeing huge piles of money in their future and get greedy. They will start taking more risk on their trades than their account can handle. 200 trades of break-even or profitable performance risking 1% per trade. Don't even think about increasing your risk tolerance until you do it. When you get to this point, increase you risk to 2%. Do 1,000 trades at this level and show break-even or profit. If you blow your account, go back down to 1% until you can figure out what the hell you did differently or wrong, fix your strategy, and try again. Once you clear 1,000 trades at 2%, it's really up to you if you want to increase your risk. I don't recommend it. Even 2% is bordering on gambling to be honest. LESSON 4 - THE 500 PIP DRAWDOWN RULE This is a rule I created for myself and it's a great way to help protect your account from blowing. Sometimes the market goes insane. Like really insane. Insane to the point that your broker can't keep up and they can't hold your orders to the SL and TP levels you specified. They will try, but during a flash crash like we had at the start of January 2019 the rules can sometimes go flying out the window on account of the trading servers being unable to keep up with all the shit that's hitting the fan. Because of this I live by a rule I call the 500 Pip Drawdown Rule and it's really quite simple - Have enough funds in your account to cover a 500 pip drawdown on your largest open trade. I don't care if you set a SL of -50 pips. During a flash crash that shit sometimes just breaks. So let's use an example - you open a 0.1 lot short order on USDCAD and set the SL to 50 pips (so you'd only lose $50 if you hit stoploss). An hour later Trump makes some absurd announcement which causes a massive fundamental event on the market. A flash crash happens and over the course of the next few minutes USDCAD spikes up 500 pips, your broker is struggling to keep shit under control and your order slips through the cracks. By the time your broker is able to clear the backlog of orders and activity, your order closes out at 500 pips in the red. You just lost $500 when you intended initially to only risk $50. It gets kinda scary if you are dealing with whole lot orders. A single order with a 500 pip drawdown is $5,000 gone in an instant. That will decimate many trader accounts. Remember my statements above about Forex being a cruel bitch of a mistress? I wasn't kidding. Granted - the above scenario is very rare to actually happen. But glitches to happen from time to time. Broker servers go offline. Weird shit happens which sets off a fundamental shift. Lots of stuff can break your account very quickly if you aren't using proper risk management. LESSON 5 - UNDERSTAND DIFFERENT TRADING METHODOLOGIES Generally speaking, there are 3 trading methodologies that traders employ. It's important to figure out what method you intend to use before asking for help. Each has their pros and cons, and you can combine them in a somewhat hybrid methodology but that introduces challenges as well. In a nutshell:
Price Action Trading (Sometimes called Naked Trading) is very effective at identifying when trends will start and finish. This gives you the advantage of staying ahead of the market and predicting when a change in trend direction will occur. It has the disadvantage of being really easy to screw it up if you don't plot your support and resistance lines properly and interpret the chart wrong. Because you can identify a change in trend direction, you'll generally make more profit on a new trend than a technical strategy will.
Technical Analytics (or TA) uses math and statistics to try and identify where the market is headed or confirm/reject whether a trend is happening. It has the advantage of being very math and stat driven which is hard to refute the numbers, but it has the disadvantage of being late to the party when it comes to identifying trends (hence why people call TA a lagging strategy). When people fail using TA, it's not because of the math - it's because you misinterpreted what the math is telling you.
Fundamental Analysis (or FA) uses news and macro scale events to predict what is going on. A really good example right now is Brexit, what a clusterfuck that is. Every time some major brexit news breaks it causes all sorts of choas in almost every currency pair. Fundamental trading has the highest potential profitability per trade but it also has the highest potential drawdown per trade.
Now you may be thinking that you want to be a a price action trader - you should still learn the principles and concepts behind TA and FA. Same if you are planning to be a technical trader - you should learn about price action and fundamental analysis. More knowledge is better, always. With regards to technical analysis, you need to really understand what the different indicators are tell you. It's very easy to misinterpret what an indicator is telling you, which causes you to make a bad trade and lose money. It's also important to understand that every indicator can be tuned to your personal preferences. You might find, for example, that using Bollinger Bands with the normal 20 period SMA close, 2 standard deviation is not effective for how you look at the chart, but changing that to say a 20 period EMA average price, 1 standard deviation bollinger band indicator could give you significantly more insight. LESSON 6 - TIMEFRAMES MATTER Understanding the differences in which timeframes you trade on will make or break your chosen strategy. Some strategies work really well on Daily timeframes (i.e. Ichimoku) but they fall flat on their face if you use them on 1H timeframes, for example. There is no right or wrong answer on what timeframe is best to trade on. Generally speaking however, there are 2 things to consider:
Speed - If you are scalping (trading on the really fast candles like 1M, 5M, 15M, etc) odds are your trades are very short lived. Maybe 10 minutes to an hour tops. For the most part, scalping strategies will produce little profit per trade but make up for it in the sheer volume of trades. Whereas swing trading may only make a few trades but each one could be worth a significant amount of money.
Spread (the fee you pay to the broker when you trade) - If you are a scalper, the spread is your worst enemy because you have to overcome it very fast to make a profit on your order. Whereas swing trading the spread hardly impacts you at all.
If you are a total newbie to forex, I suggest you don't trade on anything shorter than the 1H timeframe when you are first learning. Trading on higher timeframes tends to be much more forgiving and profitable per trade. Scalping is a delicate art and requires finesse and can be very challenging when you are first starting out. LESSON 7 - AUTOBOTS...ROLL OUT! Yeah...I'm a geek and grew up with the Transformers franchise decades before Michael Bay came along. Deal with it. Forex bots are called EA's (Expert Advisors). They can be wonderous and devastating at the same time. /Forex is not really the best place to get help with them. That is what /algotrading is useful for. However some of us that lurk on /Forex code EA's and will try to assist when we can. Anybody can learn to code an EA. But just like how 95% of retail traders fail, I would estimate the same is true for forex bots. Either the strategy doesn't work, the code is buggy, or many other reasons can cause EA's to fail. Because EA's can often times run up hundreds of orders in a very quick period of time, it's critical that you test them repeatedly before letting them lose on a live trading account so they don't blow your account to pieces. You have been warned. If you want to learn how to code an EA, I suggest you start with MQL. It's a programming language which can be directly interpretted by Meta Trader. The Meta Trader terminal client even gives you a built in IDE for coding EA's in MQL. The downside is it can be buggy and glitchy and caused many frustrating hours of work to figure out what is wrong. If you don't want to learn MQL, you can code an EA up in just about any programming language. Python is really popular for forex bots for some reason. But that doesn't mean you couldn't do it in something like C++ or Java or hell even something more unusual like JQuery if you really wanted. I'm not going to get into the finer details of how to code EA's, there are some amazing guides out there. Just be careful with them. They can be your best friend and at the same time also your worst enemy when it comes to forex. One final note on EA's - don't buy them. Ever. Let me put this into perspective - I create an EA which is literally producing money for me automatically 24/5. If it really is a good EA which is profitable, there is no way in hell I'm selling it. I'm keeping it to myself to make a fortune off of. EA's that are for sale will not work, will blow your account, and the developer who coded it will tell you that's too darn bad but no refunds. Don't ever buy an EA from anybody. LESSON 8 - BRING ON THE HATERS You are going to find that this subreddit is frequented by trolls. Some of them will get really nasty. Some of them will threaten you. Some of them will just make you miserable. It's the price you pay for admission to the /Forex club. If you can't handle it, then I suggest you don't post here. Find a more newbie-friendly site. It sucks, but it's reality. We often refer to trolls on this subreddit as shitcunts. That's your word of the day. Learn it, love it. Shitcunts. YOU MADE IT, WELCOME TO FOREX! If you've made it through all of the above and aren't cringing or getting scared, then welcome aboard the forex train! You will fit in nicely here. Ask your questions and the non-shitcunts of our little corner of reddit will try to help you. Assuming this post doesn't get nuked and I don't get banned for it, I'll add more lessons to this post over time. Lessons I intend to add in the future:
Why you will blow your first account and what to do when it happens
Trading Psychology (this will be a beefy one and will take a while to put together)
Exotics vs Majors and which you should focus on as a newbie (aka how to blow your account in a single trade with exotics)
As far as technology is concerned, the word ‘binary’ implies that there are only two possibilities, the same goes for Binary Options trading whereby a trade is based on two possible outcomes only. The trade will either end with you in the money with some profit gained or you losing your investment entirely. The vast majority of Binary Options traders or brokerages are out swindle you of your hard earned money, their fancy trading platforms are not plugged in to any actual market whatsoever and if you make further research you’ll realize that these brokers are not licensed by any financial regulator. In reality what they offer is nothing more than a trading video game, with all bells and features so you think you are really trading whereas you’re just pumping your money into someone’s wallet. They have one main goal, which is to pocket the deposits you make as profits and have no intentions to give any funds back. The promiscuity of these scammers has made some countries limit the access or completely outlaw their citizens from BO trading after an indicator revealed that an average of **£87,000 **was lost to BO scammers on a daily basis. This development has led these scammers to rebrand themselves and hide behind names like Forex Trader and CFD Brokerager. Some have even gone further to develop private banking sites that offer juicy investment deals and packages including the same fake trading opportunities. Don’t let any of these tactics fool you, A SCAM IS A SCAM, so always exercise caution and make adequate research before investing your money with a broker, you can also check if the trading platform is registered with the SEC under Section 6 of the Securities Exchange Act of 1934 on the SEC Exchange site. However, private means have been devised technologically and legally to assist victims in retrieving all or at least some of their funds lost to these scammers. In most cases, your ability to realize that you’re being scammed early enough increases one’s chances of recovering most of the funds. Working with private recovery investigators like Paradigm Tech , their professionalism and expertise gives a degree of surety that most of your funds will be recovered as soon as you have an expert working directly on your case. You can reach a recovery expert via mail [email protected]. org
How-to & FAQ for holding Bitcoin and Ethereum in an RRSP/TFSA
A few months ago I came across a way to hold crypto in my RRSP/TFSA and have been answering questions about how to do that in comments, DM's, and Skype consults. I figured it would be helpful to put together one big comprehensive FAQ. Cryptocurrency is treated as a commodity by the CRA and you must pay capital gains taxes on any profits if held outside a TFSA. If bitcoin goes to $1m as some are predicting, the Canadian government is going to be taxing a huge windfall in capital gains taxes. BACKGROUND Bitcoin & other crypto cannot be held directly in a RRSP/TFSA, and there are no eligible ETF's in North America yet. However, the ETN COINXBT which trades on the Stockholm Stock Exchange in Sweden (Nasdaq Stockholm) is eligible. ABOUT COINXBT COINXBT holds bitcoin directly and its price per share is based on a 0.005 multiple of the current bitcoin price. For example, if the current price of bitcoin is $10000USD, a share of COINXBT will be worth $50USD (ie: $493 Swedish Kroner) Company's website and full prospectus at: https://xbtprovider.com/ Price quote / chart: https://www.bloomberg.com/quote/COINXBT:SS HOW-TO TRADE Only some Canadian brokerages allow you to trade on eligible international exchanges in your TFSA. Some do not. Typically placing trades on international exchanges online is not an option and must be made over the phone broker-assisted at a much higher cost than typical North American securities. CANADIAN BROKERS I've called pretty much every brokerage to inquire if international securities can be held in a TFSA and what the fee is to transact. You may want to call yourself to see if policies have changed, but here's a summary:
National Bank: $75 per trade + $0.06 per share (confirmed works)
TD: Fee dependent on amount traded. Up to $5K is $187, $80K would be $520 per trade (confirmed works)
CIBC: $250 minimum, based on trade amount. $50K would be about $350 to buy and $350 to sell (confirmed works)
Scotia iTrade: $250 CAD per trade CAD, unlimited shares & order size (should work)
BMO Investorline: Fee-based on total trade amount. $50K would be $325 to buy $225 to sell, $50-$60K would be $350 to buy $240 to sell (should work)
Not available, or not available in RRSP/TFSA:
Interactive Brokers, can trade it, but not in RRSP/TFSA
HSBC (has access to almost every exchange other than Stockholm)
FAQ's Are you sure it's legal? I'm quite sure it's illegal.
I used National Bank Direct Brokerage. The fee's came out to $75 per trade + $0.06 per share. For example, the commission for a trade I did for 885 shares of COINXBT was $75 + $53.10 for a total of $128.10. Canadian funds were used to make the purchase and there were no forex fees for converting to Swedish Kroner (SEK)
How do I make a trade once I'm ready?
Call your brokerage and say you want to place a trade on the Stockholm stock exchange. You may be forwarded to a person that specializes in that, and eventually to a broker that deals with placing order on international exchanges. Tell them the symbol to trade is COINXBT and the name of the ETN is "Bitcoin Tracker One".
How do I calculate the number of shares to trade to max out my TFSA?
The price of COINXBT is in SEK. In my case using NB I took my balance minus anticipated fees divided by the current price to see how many shares I could buy. For example: For a $10,000 TFSA, current COINXBT price = $554.77SEK (84.27CAD), would be 117 shares at a cost of $9859.59 + $82.02 commission for a total of $9941.61CAD
Market or Limit order?
The first time I placed an order for COINXBT I tried to place a limit order a little below the market price. Over the next week the price of bitcoin ran up a lot and didn't come down. I ended up buying a lot higher. Since then I've been placing limit orders slightly above the current price or just market orders so that they go through right away. I've had no issues doing it either way.
When can I trade? Is it only possible to make the trade while the Swedish market is open and the TSX are open at the same time? Or can you place the order at any time of day?
XBT Provider has said they will monitor forks for 3-months and then decide what action to take. In the case of Bitcoin Cash, they sold the forked coins and distributed it as a dividend to anyone that held ETN shares on the fork date.
What about other cryptocurrencies?
An ethereum ETN was recently launched: COINETH that also trades on the Stockholm exchange. https://www.bloomberg.com/quote/COINETH:SS Other than that, I am not aware of any other eligible crypto securities that can be held in a RRSP/TFSA
How is the price of COINXBT determined?
It's based on the average price of the top 3 exchanges
Why not just buy GBTC?
GBTC is traded on the OTC exchange in the US and is not RRSP/TFSA eligible
Why can't I place a trade online myself?
For now, there are no crypto ETF's on North American exchanges. They have been in the works for years in the US, but no approvals yet. Evolve funds recently said they plan to launch a Canadian Bitcoin ETF. Trading COINXBT is a bit of a hassle, but you're getting in ahead of everyone else that are not willing to put in the time/effort. Once the Canadian/US ETF launches, it will probably be worth it to sell COINXBT and switch to the North American one which should be easy to trade online just like other ETF's.
Feedback If you've managed to get crypto into your RRSP/TFSA in any other ways than listed above please do leave a comment and I'll update the post. Thanks!
https://preview.redd.it/mcmvb4h6ttv21.png?width=785&format=png&auto=webp&s=a55a5b2d209adc44226faeabc57472c89bf8ce8b Börser is a cryptocurrency backed by shares of Börser S.A, our holding company which offers you the exciting opportunity to take part in three different projects. Börser S.A holds shares of three companies – Mi Wall Street, which specialises in providing high quality financial services previously reserved for major corporations, to the small investor, CrowdingFunds, a blockchain-based crowdfunding platform for investors all over the world, and X-Change, which enables clients to seamlessly transfer Börser’s cryptocurrency into fiat currency for a very low fee. Сrowdingfunds, the first crowdfunding platform embracing projects from all over the world by using initial coin offering (ICOs) funding procedure. with crowdfunding, we addressed the issue of crowdfunding platforms only servicing companies within their jurisdiction by relying on blockchain technology. entrepreneurs can now create a token of their own using our proprietary cryptocurrency and launch icos to potential investors using Börser’s platform. Mi Wall Street acts as an investment hub, offering small investors an array of financial services previously reserved only for major corporations and investors. To minimize costs and ensure all of our investor clients have access to bespoke quality trading signals, forex, and stock brokerage as well as managed accounts, we turned mi wall street into a network marketing franchise-style corporation. Last but not least, we addressed the remittance issue by launching x-change which will facilitate smooth, accurate and cost-efficient exchange between fiat currency and börser’s cryptocurrency. with X-Change, you can create a virtual wallet and link it to a debit card to transfer money with ease and for free. What’s more, börser also offers automatic integration to x-change which means that by creating icos on our platform, you’ll also have your tokens automatically incorporated into X-Change! Instead of providing partial solutions to individual problems, we at Börser adopted a different, big-picture approach. by creating a holding company and a cryptocurrency, we aim to not just take advantage of the crypto boom but offer a comprehensive, direct solution to a whole array of existing problems, related to start-ups, financial markets and the crypto space itself. Börser is a holding company, currently holding shares to three separate organizations, all providing solutions to major financial issues. Mission To create a fintech company that uses blockchain technology as the structural base to allow for the creation of companies that provide real-life innovative solutions in the fields of money transfer, wealth generation, venture capital, and crowdfunding, all while redesigning the concept of cryptocurrency. Problems Börser seeks to solve Startups and companies from all over the world need capital to fund their projects
Small and inexperienced investors need to generate profits
A cost-effecve global remiance service accessible by anyone with an internet connecon is needed
A cryptocurrency is needed that can be considered an investment and not just a vehicle for speculaon
UNIQUE SOLUTIONS PROVIDED
Crowdingfunds, the first crowdfunding platform embracing projects from all over the world by using initial coin offering (icos) funding procedure. With crowdfunding, Börser addressed the issue of crowdfunding platforms only servicing companies within their jurisdiction by relying on blockchain technology. Entrepreneurs can now create a token of their own using Börser's proprietary cryptocurrency and launch ICOs to potential investors using börser’s platform.
MI Wall street acts as an investment hub, offering small investors an array of financial services previously reserved only for major corporations and investors. To minimize costs and ensure all of Börser investor clients have access to bespoke quality trading signals, forex, and stock brokerage as well as managed accounts, Börser turned MI wall street into a network marketing franchise-style corporation.
Börser addressed the remittance issue by launching x-change which will facilitate smooth, accurate and cost-efficient exchange between fiat currency and börser’s cryptocurrency. With x-change, you can create a virtual wallet and link it to a debit card to transfer money with ease and for free. Börser also offers automatic integration to x-change which means that by creating ICOs on the Börser platform, you’ll also have your tokens automatically incorporated into x-change!
BOR ICO Details Softcap 3,000,000(USD) Hardcap 30,000,000(USD) Currency Accepted BTC,ETH,USD,Others Coin Symbol BOR Total Coins 100,000,000 Coins for Sale 10,000,000 Private-Sale/Pre-Mined Coins 6,000,000 Coins Sold 0% Coin Price 1 USD Website: https://borser.c Whitepaper: https://borser.cdocs/whitepaper.pdf Bounty0x ID: ecamli
Why Genesis Vision (GVT) Should Be on Your Watch-List
In light of the recent shills regarding GVT, I thought it would be the perfect time to give some of you a quick look on what GVT is and why it has been getting so much attention as of late. As a disclaimer, I am invested in GVT and I would like to also point out that although I am fairly active on the GVT sub reddit, I have not shilled it whatsoever on /r crypto. I mention this because I know there will be those that say "oh great, another shill post/comment" and had I been trying to shill, I would be all over this sub spamming people about it. I will try to make this post as unbiased as possible. In return, I simply ask that any FUD, and shills as well, include some substance so that we may have a nice discussion.
What is Genesis Vision?
Genesis Vision, from the site, is "the first platform for the private trust management market, built on Blockchain technology and Smart Contracts". Simply put, they are creating an easy-to-use app where people who do not know how to invest their money can give it to someone who does on a trustless platform. Think of it like a trust-less brokerage firm that is backed by blockchain technology and smart contracts. From the white-paper, there are 3 types of people on the platform:
Managers: Management funds/traders are companies/individuals with a proven trading history, ready to acquire investors' money for management. The profit, received as a result of management of the total funds, is shared proportionally between the managers and investors. Managers receive a commission for management and a commission from the profit (success fee).
Investors: Investors do not trade in the market directly. Instead, investors transfer their funds to experienced traders who manage the funds for them. Investors get their shares from their managers’ profits.
Brokers: Brokers are companies that have the appropriate licenses to carry out brokerage activities. Through brokers, traders have access to trading financial instruments on exchange and over-the-counter markets.
The final GVT platform will have the forex, stock and crypto market all integrated onto one app. GVT's alpha release on April 1st will only include the forex market. Q4 of this year will then integrate crypto for their beta release. Finally, on their final product release, stocks will be added.
How is the platform trust-less?
First ask yourself this, why can people trust traditional brokers with their money? They can't. Who's not to say any given broker won't run away or make awful investments and lose your money? The only thing people like you and me can go off of when investing with any given broker is their track record - and that’s something that could be tampered with too. How long has this person/brokerage firm been in the market? How reliable are they? Stuff like this isn't going to be an issue on Genesis Vision. The time a person has been investing on the platform is all public on the blockchain. Every good investment and every bad investment will be publicly listed. Smart contracts will ensure that no manager can close shop and run with your money. At the end of the trading period, funds are released to the original investor and the manager is given a cut - all safely and securely using smart contracts. This completely eliminates the trust factor as everyone will simply base investments on a manager’s track record.
How does it work?
On the platform, each manager will have their own token. You invest into said manager by buying their token. The manager can then utilize the various markets available to invest and hopefully grow your money. Managers will have levels that are based on their ability to make consistent and reliable gains. The lowest level a manager can be is level 1 while the highest is 7. Your level basically determines how much money you can handle - the max level being able to handle roughly $1m. New people can apply to become a manager after they have developed a track record by trading a minimum of $1,000 over a given period of time.
How GVT is creating its own ecosystem.
To make it easier to understand how the platform will work, ask yourself how the current crypto market works. No matter how many trades you do or what coins you hold, the end goal is to have your portfolio be worth more satoshis/gwei than what you started with. You can either hold BTC, OR you can invest in various altcoins in hopes that it will grow faster than BTC. The reason people research low cap “undiscovered” cryptos is to hopefully catch a rocketship before it takes off. Times have since changed, but everything used to have to go through BTC. Buying alts? Exchange from BTC. Selling alts? Exchange to BTC. BTC falls, everyone falls. BTC grows, everyone grows (sometimes). Some alts will fall harder than BTC, and some won't. Some alts will grow faster than BTC and some won't. Because of BTC's dominance over the market, it is why many crypto veterans hold a big portion of their portfolio in BTC and why they often recommend it to others. This is akin to how the GVT platform will work. GVT is BTC and the managers on the platform are the altcoins. You could either hold GVT or put it into a manager that will hopefully get you better returns. Much like how people right now look for “undervalued” and “undiscovered” altcoins, there will be talks and similar conversation about undiscovered managers with potential. Now remember, this is how it’s going to be for the intermediate to advanced people, but for newer or more busy people, GVT can become a fantastic tool for side-income. The platform’s main goal is mass adoption. People like me and you would be more inclined to simply hold GVT since we’d be able to spot out good short, mid and long holds ourselves. Also, since as the platform grows, the coin itself will naturally grow with it. However, what GVT is aiming to do is build a platform similar to Robinhood. Just like how they made investing in stocks - and now cryptos - more appealing and easier to all audiences (especially younger ones), GVT is trying to do this but with a broker-like app instead. Also, keep in mind I’m just talking about crypto. The platform is going to utilize the forex market and the stock market as well. The takeaway of all this is that because GVT will have its own platform where you can buy/sell GVT straight off of, down the line GVT could possibly part ways with Bitcoin and in a sense create its own ecosystem where GVT is the driving force of its own market.
Why invest with a manager?
So now, I’m again talking exclusively crypto (since I’m not the most knowledgeable on the forex/stock market), but why would any of us want to invest with a manager? Technical analysis and day-trading is an incredibly taboo subject on this subreddit, but that’s because people don’t understand that TA is a tool. It’s not a fact that it’s going to pan out exactly as it’s written and there are many different things to look at when doing technical analysis on a chart. Any investment in this market is speculation and TA is very useful with helping you make educated guesses for the short, mid and long term. With that said, there are some really good day-traders out there. I’m not sure how this subreddits sentiment is towards Philakone (an exclusive day trader on twitteyoutube/steemit), but the dude makes a good amount of consistent money on a daily basis, whether it be a bull or bear market, and keeps his followers up to date by the minute - for free. Imagine if he were to get on the GVT platform and instead of people trying to copy/paste or follow what he does on Twitter, they can just give him money on the GV platform and have him do the work? Down the line if he becomes a level 7 manager and as a result is given a cut of the $1m he is allowed to work with, the literal TON of money he’d be making would certainly appeal to others looking to do the same. They would no doubt have their eyes on GVT and from there, the platform’s growth would be exponential once more and more managebrokers hop on. I’m not saying that this is exactly how everything will turn out, but still imagine being able to make money in a bear market? And aside from that, there is the forex and stock market to utilize and if any of us ever become serious investors, it would important not to just diversify in crypto, but in different markets altogether and being familiar with GVT would greatly help. Again, this is purely talk on the potential of the platform so take it with a grain of salt and DYOR!
Some thoughts + moonboy talk
Okay this is going to be pure moon-talk since I know that’s what drives most of you. To start, the team is most familiar with the forex market - which has a LOT of money in it - and that is what they will be implementing first on their Alpha launch on April 1st. Crypto implementation in Q4 2018 on beta release and then stock implementation in Q1 2019 on the full release. Remember that REAL adoption comes when people are using applications built on the blockchain without knowing - something GVT will be doing. Look at Steemit. It is the most active blockchain by far - beating out Ethereum AND Bitcoin ( http://blocktivity.info ). Why? Because it’s smooth and functions like a normal website, despite its use of blockchain technology. I’m not saying GVT will automatically shoot up to the top, but actual use is what will determine any crypto’s success and Genesis Vision is looking like a really solid candidate right now. On top of this, GVT’s CBDO (Chief Business Development Officer) was the founder of tools4brokers ( http://www.t4b.com ) so they have someone on the team with experience with a successful and working product. I’m not going to take a deep-dive on the rest of the team, but I highly suggest checking out the roadmap and the team (all but a few have linkdin profiles). Now for the money. First, do NOT be fooled about GVT’s USD price. The price is so high because its token supply is very limited. It is roughly 1/6th the supply of Bitcoin’s meaning we would just have to get to 1/6th of Bitcoin’s market cap (around $25b) in order for 1 GVT to equal 1 BTC. It’s a stretch, sure, but it’s more possible than you think. To put it plain and simple, the forex, stock and crypto market altogether amount to upwards of almost $100 trillion. GVT is a $100m market cap crypto trying to disrupt a $100 trillion~ industry with an easy-to-use, innovative and game-changing app
.001% of this market = $1 billion market cap (1,000% gains from now)
.01% of this market = $10 billion market cap (10,000% gains from now)
.1% of this market = $100 billion market cap (100,000% gains from now)
Huge disclaimer that just because we could reach these numbers, does not necessarily mean we will, but I see no reason why can’t hit a billion or even 10 down the line.
That’s pretty much it from me. Genesis Vision is a project I, and many others, are extremely excited about. It has a lot going for itself and with such a low market cap, it’s definitely something to at least throw on your watch- list. Hopefully this post didn’t come off as too much of a shill (aside from the last portion) and instead opened some people up to why GVT isn’t just “another shitcoin”. If I missed anything, don't be afraid to chip in! And I’d also be more than happy to try and answer any questions some of you may have but I simply ask that you take a look at the white-paper ( https://genesis.vision/white-paper-eng.pdf ) first as it is very user-friendly and would answer some of your questions better than I could. Links Website: https://genesis.vision/ Whitepaper: https://genesis.vision/white-paper-eng.pdf
I feel like with all the cheating and drama going on with spot fx we should at the very least have a dedicated section on the right for guidance on futures contracts. The shady Cypriot brokers and ones on other random islands are lying and selling a dream so let's take a look at the reality of spot fx... Currency markets are the most liquid and active markets of any sector. However, there is also a great deal of misinformation, slick advertising, and even outright deception regarding this $2 Trillion Dollar a Day marketplace. For starters, a large percentage of that $2 Trillion is traded through what is referred to as the interbank market. The interbank market is the top-level foreign exchange market where banks exchange different currencies. This trading between banks is not accessible to retail traders and is estimated to account for the vast majority of the Trillion Dollar liquidity factor that attracts so many retail traders in the first place. Here are a few of the reasons to trade futures: -Level playing field for all participants -Deep liquidity on major currency contracts -Safety and security of central clearing If your Forex brokerage firm uses a dealing desk, your buy and sell orders never actually reach the true Forex market. In other words, you do not have access to the inter-bank market. Instead you are buying and selling at prices set, and potentially manipulated by the dealing desk. This is known as conflict of interest. The Chicago Mercantile Exchange guarantees each transaction. Futures contracts are legally binding! This means that if you go long a currency futures contract and your speculation was correct, you will walk away from the trade with your profit even if the person that took the other side of the trade fails to pay. This is what we call counterparty risk. Take a moment, have a break and take a look at all the horror stories on forex factory, for instance. Whether you are a large institution or an individual trader, everyone is on equal footing when it comes to pricing currency futures. EVERYBODY gets the same price regardless of who you are (individual or mega bank). Best price wins, it is as simple as that — something that is not always the case in the fragmented OTC FX market. The spreads are also very tight if you trade liquid future contracts. Spot fx brokers also control their price feeds. They can widen the spreads as they see fit and they can really screw you over if they want to. Believe me when I say that most fx brokers don't want you to win! Even the ones that claim to have liquidity providers... Those are nothing but price feeds. Quotes. Nothing more.... And Forex firms offering a "fixed" 3-5 point spread may not be charging traders commission outright, or even in a form that shows up on an account statement, but there are significant costs built into the synthetic market that they provide to you. No middle man, no market maker. Yes, Forex is an electronic market, but your order still ends up on a "dealing desk" where a human handles your order. Or an algorithm... Basically, a Market Maker. He could make you or break you. With E-mini Futures you have a level playing field. You trade on a centralised and CFTC regulated exchange. Whether you're Goldman Sachs or Joe from Idaho, you get equal treatment! If you're worried about Liquidity - 1.5-3m contracts trade hands everyday on the S&P 500 E-mini Futures Contract. If you want in or out of a position, there is almost always someone waiting and willing to take the other side of your trade (24/5) just 1 tick away. This simply isn't true for all Forex Pairs. Low Cost of Doing Business - Commissions on a self directed SP500 E-mini Trade (ES) should be no more than $3.00 per side or $6.00 per round turn. While many Forex Brokers tout "Zero Commission", we all know there's no free lunch. Forex Brokers don't need to charge a commission because they make money off of the bid/ask spread "they create" and then take the other side of your trade. Run the numbers... for every $100 in profits or loss, you will spend a larger % in "cost of doing business" in the Forex Market than you will in the S&P E-mini Market. Don't take my word for it... go take some real trades and you'll quickly see the truth. Zero Interest - If you you trade the ES intraday, expect to put up $500 per contract as a "bond" for lack of a better term. That's it. No hidden cost. Forex however, has a "cost of carry" associated which means interest may be charged or paid on positions taken. Fiduciary Responsibility - Even regulated US Forex firms are not required to segregate customer funds. If a regulated firm goes under, you do not have the protection of the CFTC and the NFA as you do in the Futures Markets. Turn ON The Volume Please - In Forex, since there is no centralised exchange, it is impossible to get a true read on volume. Not so with the S&P 500 "ES" E-mini. Simply turn on the volume indicator and you have exact numbers for Volume Analysis. GS and CITI have huge research departments with hundreds of employees, but they know nothing about volume that you don't know via a free indicator on your direct access trading platform. Just one more example of the level playing field we constantly speak of. Centralised Clearing - All trades are cleared via the CME - Chicago Mercantile Exchange. All trades, including time and sales, are public information and posted in real time. Edit: By the way, if you're worried about discrepancies, currency futures charts look almost exactly the same as their spot fx siblings! So you can easily apply your current strategy to this market, too! A great example would be "M6E" vs "EUUSD" SO GUYS, LET'S ACCEPT REALITY AND LET'S DO SOMETHING ABOUT IT. DO YOU AGREE? Source: cfrn.net
https://preview.redd.it/zss889evglo11.png?width=1000&format=png&auto=webp&s=a643bee37b1809f1996b5b52e54d85b9ac6381bd Azbit is bringing together the worlds of cryptocurrency and traditional finance. It is no secret that all the participants in the cryptocurrency market today —both blockchain projects and private individuals— need traditional banking services. And Azbit Banking is preparing to provide them. In particular, our clients will be able to open brokerage accounts, giving them fast and reliable access to the securities, futures and forex markets. After all, traditional financial markets have not gone away. We plan to support DMA (Direct Market Access) trading platforms such as cTrader, MetaTrader 4 and MetaTrader 5 for forex and futures, and Laser, Sterling, Das Trader and RealTick for stocks. We are taking active steps to achieve this goal and to give our clients access to this service. At the start of 2017, we obtained a Payment Institution license in the Czech Republic. We also plan to obtain a banking licence. This will help us to protect traders’ interests. Transactions will be carried out exclusively through the ECN (Electronic Communication Network) on the interbank market. Furthermore, all quotes will be automatically recorded in a blockchain network. We will say more about this in our next article.
First, who I am. I work in the financial industry as a level 2 PC support. I have a computer science and mathematics degree and have worked as a programmer for over 3 years, and PC support for over 6. I’ve been working for the last 3 months on “breaking” a platform that we used in the past to auto-trade forex so that it could trade cryptocurrencies. I currently have a system running that has been making roughly .5-1% per day since mid-January but are looking to accelerate and improve this. I also have a system that is projected to make much more but implementing a way to execute those trades on the market will require a bit of work. The Plan. I’d like to build a team of skilled individuals but divide them into teams that won’t share work with the exception of meetings to talk about progress and if one team seriously needs help understanding something another team is doing. This will slowly go away as everyone gets vetted and works together more frequently. Each of these teams will get their part of the project that I’ve developed over the last 3 months so that they can understand and improve upon it. The only time they will have access to another part of it is when they’re working with a member of that team either through discord or some RDC (Discord, VNC, RDP, TeamViewer, Skype etc.). The reasoning for this is so that one individual can’t run off with all of our work and build their own team to do this with, as has happened to me prior. At some point I’d like to have everyone I add to the team get well-vetted enough to do away with the segregation and have one team working together, but until I get to know everyone I bring in I need to do this for all our benefit. As of right now I have assembled a team of 5 and look to add a few more. Stage 2 of the plan -once we have proven ourselves through a strong portfolio- is to eventually build this into a fully-fledged trading fund. I already have someone who’s passed the series 7 and series 65 exams willing to join the team. Team Structure. Team 1 will need to be strong in coding both python and C#, strong at making things that are not intended to work together run like a clock and will be the core to our back end. All data that comes from Brokers, Google Trends, Google Analytics, Twitter, etc. will come from the back end that is built by this team. As of right now it’s run in python because 2 of the API’s I use don’t have open-API’s but have libraries already built for python. Eventually I’d like to “break” our platform even further and integrate the entire backend into it using C# so everything becomes more streamlined. (2 open spots) Team 2 will be somewhat split into two subteams, both of which will be working solely on the platform itself. The first subteam will need to be strong and experienced traders, understanding both fundamental and technical trading. A base understanding of programming to better articulate your thoughts to your teammates is also a huge asset. (1 open spot) The second subteam will be made up of programmers who are able to code C# and are able to understand what the non-programming oriented first half of this team are trying to tell a computer to do. This will consist of writing and testing certain correlations that they may view impactful and creating new indicators as well as re-writing parts of the platform in our favor. (1 open spot) Team 3 will work on the machine learning. It’s important they have a strong understanding of C# and data science theory. I’d like to integrate this directly into the platform for the sake of consistency and speed. Python is also a useful language to know but is not required. They will work with team 2 short term. And will have a more self-contained project long term. (1 open spot) What we have:
Server running this 24/7
Back end that pulls in data from brokerages, twitter, google, etc. (Team 1)
Powerful forex trading platform modded to trade using our input (Team 2)
Unintended integration into this platform for a neural net (Team 3)
Tick by Tick Historical Data for over 100 crypto’s from the last 3 months.
Proof that a neural network can be easily implemented into the platform.
We are proud to announce that another global brand is joining Serenity — Umarkets.com brokerage house. Umarkets.com has started its operations in 2014. It is an international online Broker providing an extensive variety of electronically traded products such as Forex, Metals, Commodities, and CFDs, including major cryptocurrencies for clients around the globe. Umarkets.com offers retail and institutional customers unmatched top-tier liquidity and cutting-edge trading technology. Offering direct access to global markets Umarkets.com execute thousands of transactions per day and supply its clients with all the necessary tools for self and algorithmic trading along with advanced money management solutions. As such, Umarkets.com strives to provide the service of high quality, with the regards to price feeds, execution speed, and accuracy of orders. Alexander Stanovoy, CBDO of Serenity commented: “Today Serenity welcomes a new brand Umarkets.com joining our project. We very much value the support that is being given to our project by such big names as Umarkets.com. I am sure that Umarkets.com, very much the technology advanced market player will undoubtedly add value and expertise to the Serenity escrow platform.”
Pre-ICO: Stockus: Fantasy Trading Blockchain Platform Stockus Crypto Summary Hi everybody! I’m happy to introduce the Stockus Project to you. It is a new and exciting project on which our team is working on now. The main ideas and its realization are explained further. It will be nice if they are interesting for you. Stockus. Fantasy trading platform based on the blockchain technology. Our goal is to create a leading financial simulator based on open ledger technology in order to provide participants with a reliable, transparent trading platform and opportunities to earn large cash prizes. Stockus – is a fantasy trading platform based on smart contracts. Participants place trades individually or in teams. The application allows users to enrol in various tournaments and earn cash rewards without an initial investment of capital. Gaming Capital Globally The online gaming industry is rapidly growing, with figures indicating total earnings of 99.6billion USD in 2016 alone. This is an impressive amount; however it pales in comparison to the size of the financial markets. The daily turnover of the Forex market amounted to 5.1trillion USD in 2016. Approximately 10-15 million individual market participants actively trade on Forex worldwide with the total volume generated by retail traders being equal to 293billion USD daily. Statistics show that the average starting capital of a retail trader is somewhere in the region of 700 USD. Within 4 months of trading 97% of all retail traders lose their initial investment and leave the market. The amounts that such traders lose on the currency market amount to tens of millions of dollars annually. $10 against $700 Our approach differs substantially from the business model of the classic broker. There are two fundamental pillars on which Stockus was built. The first one is that exchange trading for the retail participant is comparable to a game, where players place bets on the direction of the market. And the second one is the players prefer to pay small-one off buy-ins for the chance to win large cash prizes in tournaments as apposed to putting large deposits at risk on leveraged trading accounts. There is clearly a drastic difference between a trader who suffers the loss of their entire deposit of $700 whilst trading on Forex, and a player who buys into a trading tournament for $10 with the chance of winning a massive prize. That same $10 deposit would get the trader nowhere on the Forex market, whereas on Stockus he stands to win thousands of dollars without the requirement of a large investment upfront. Our approach is light years apart from the business model of a traditional broker in the sense that it aims to protect the trader without limiting their gains. Traders are now faced with the choice of trading on the market with a high degree of risk or playing Stockus with limited risk whilst maintaining their earning potential. This is a new opportunity to trader and we believe that they will chose in our favour. Equal odds of winning The probability of winning in a fully subscribed Stockus tournament is approximately 3-3.5% which is roughly equal to the chances of turning a profit whilst trading on the Forex market. However $10 gets you nowhere on a forex brokerage account, whereas in Stockus you can enter a trading competition and stand to win tens or even hundreds of thousands of dollars with the same amount. The benefit of Stockus is that each player has a limited loss, but gets an equal chance to win large prizes. Fantasy trading – the Stockus platform is designed to be a direct competitor to traditional brokers by attracting a large number of participants. There is no sense in funding a leverage forex account and risking the entire deposit when the trader can enter a tournament and win fantastic amounts of prize money in a variety of competitions. The development of trading skills and ability to collect large gains solely with the merit of experience and knowledge is the main advantage of Stockus. Millions of players with the ambition, aptitude and skill will be able to compete for the large cash rewards with limited downside. In the past such individuals were faced with a choice between financial markets or betting games. Now, such players have an innovative alternative in the form of Stockus. How to become a millionaire Stockus is a financial simulator based on a social media platform which allows any player to participate in a tournament of their choice. If a certain trader prefers a short-term, high frequency game, they can join a daily tournament with large prizes. If, on the other hand, the player is more partial to a long term, trend-based approach, the weekly or monthly tournament is more suited to this style and the prizes can reach astronomical levels. It is crucial to note that the size of the prize is not restricted, which means that the more players buy into the competition, the higher the winning pot. The payouts for larger tournaments can potentially reach six figures or more. The game consists of the following: Professional tournaments which will constantly increase in number. A small buy-in amount is paid to enter the tournament and compete against other traders. The winners immediately receive a payout to their account balance. Friendly tournaments which allow anyone to participate free of charge. The main purpose of these trading challenges is to educate new players and allow existing users to refine their strategies in preparation for the professional games. Decentralised challenges which users can host independently by selecting their competitors and forming a private league. Team tournaments allow players to team up with other traders and compete against each other in groups throughout several rounds. Players or teams who lose their initial capital have the option to buy back in and continue trading. As opposed to leveraged trading, where each loss is a direct hit to the capital and savings of the trader, Stockus allows players to continue trading for as long as they wish. Players have the ability to improve their chances by purchasing leverage, analytical tools and other extras for additional payments. Members of the Stockus community can exchange feedback, tips and trade ideas with each other. A referral program encourages players to invite their friends. The main attraction for most traders will be the professional tournaments. During the development of our tournament system, the team drew a lot of inspiration from the structure of the competitions held by the fantasy trading platform FanDuel. The capitalisation of FanDuel as an organisation is in the billions, and the platform’s phenomenal success along with hundreds of thousands of members testifies to the scalability and potential of such a model when applied in a different area. The Principles of Platform Monetisation Stockus aims to monetise fantasy trading by applying a small commission on each buy-in as well as charging additional fees for bonus features such as refunding, leverage, analytics, etc. Each player can purchase extras in order to improve their chances of winning and gain an edge over their competition. Additional initiatives such as referral programmes and promotions allow players to help others and earn additional tokens for their efforts. Testing the game Stockus utilises a unique trading platform which our team modelled around the popular MT4 trading software. This proprietary platform allows players to trade stocks, futures, currency pairs and options in real time on a broad selection of global venues. The Stockus model was throughout several beta rounds hosted on the Facebook developer platform in order to enhance the software and improve functionality. This testing base also allowed us to confirm the viability of the concept and saleability of the offering. This period allowed us to gather valuable data on user preferences, as well as collect feedback and verify the validity of the game concept. Users actively participated in the trading tournaments and purchased additional features in order to boost their chances of earnings a prize. We saw a healthy amount of competition for the prize spots, with many players repurchasing funds or unlocking leverage to get the upper hand on their rival traders. Our developers also expanded the capabilities of the platform during this time, adding several different tournament types as well as options trading during the testing phase. We have now developed a completed version of the game based on the results of these extensive tests, which we are excited to bring to your attention. Blockchain as a foundation for trust Stockus is innovating by allowing all types of traders to compete in tournaments with limited risk and on equal terms. Ethereum allows us to create smart contracts which automatically determine and verify the outcome of each trading tournament, as well as paying out the rewards to the winners. The principles of crypto can be used to process and distribute the gains from the various tournaments in an efficient and transparent manner. This solution is optimal due to its security and scalability as the number of players and competitions grows. Unlike a typical brokerageplatform, the entire infrastructure of Stockus is built on blockchain, making the setup robust and secure. One of the toughest challenges we faced during the beta testing phase was gaining the trust of the players. Some users raised concerns regarding the authenticity of the tournament results and likelihood of an actual payout. The blockchain addresses such concerns and puts any doubts to rest due to the transparent and objective manner in which the smart contracts will determine winners as well as the final payout of the prizes. This transparency creates an element of trust amongst users and enhances the eligibility of the tournament series. A second challenge addressed by the blockchain infrastructure is raising the required funds and launching the game within a period of 3months. An ICO offers a priceless opportunity to meet our targets and achieve the ultimate objective of building a trading simulator which will offer an innovative and groundbreaking alternative to the traditional forex trading approach. A third argument in favour of an ICO and the blockchain solution is the ability to issue our own tokens, which will essentially act as a cryptocurrency derivative within our game. These tokens will have a value versus Ethereum and other cryptocurrencies which is directly dependent on the popularity and success of the game. Should the demand for ingame services and tournaments continue to increase as we expect, so will the value of the tokens in relation to other currencies. Stockus Tokens Stockus tokens are an integral component of the Stockus economy and ecosystem. Owners of these tockens will have access to the following services: - Participation in trading tournaments - Act as witnesses and judges in the trading tournaments - Receive rewards and prizes in the competitions, promotions and tournaments - Purchase additional services and bonus features - Hosting tournaments - Receive referral rewards for inviting friends The tokens play a key role in the economic processes at play in the Stockus environment. These tokens can be purchased in the application, received from other players, won in a tournament, or as a reward for acting as witness or judge in determining the results of a competition. Additional tokens can also be received as a reward for inviting friends to play. Tokens can also be acquired through the preliminary offering of Stockus tokens via Ether (ENT). The Stockus interface will also integrate third party trading solutions such as Shapershift and Coinbase for those users who do not already hold ENT. The initial offering of Stockus tokens will take place in the form of a preliminary ICO. Anyone can subscribe to the offering in exchange for ENT or other cryptocurrencies such as BTC or STEEM. We plan to offer 5,000,000 of our tokens at a rate of 300 tokens for 1 ENT. Tournament Result Verification The decentralised tournament verification system is an elegant and robust solution for all users as it prevents any manipulation or abuse of the competition results. All token holders will be able to act as witnesses or judges when determining the winners of each tournament, allowing the public to verify the results via open ledger technology. Should a single participant disagree with the results, an independent confirmation of the tournament results is established by the witnesses. If the conclusion regarding the winners of a tournament is unanimous and there are no disagreements between participants, no added verification via witness is required and the system automatically processes a payout. Stockus ICO and Development plans The bulk of raised capital will be directed at the following: - Development of 2 professional tournaments: the WFT (Weekly Fantasy Tournament) and DFT (Daily Fantasy Tournament). These will be completed in 3 months. - A promotional campaign which will ensure that the userbase reaches critical mass and the project becomes sustainable by increasing the prize amounts in the WFT to the order of tens of thousands. - The development of a social network within Stockus, which would allow players to exchange opinions, experiences and advice, as well as form trading societies and teams. - The development of a mobile version of the trading application. - Development and production of at least one new trading competition every 2 months. The game should have at least 6 different tournament types by the end of the first year. The Stockus development team is pleased to present our project for your review and assessment. We hope the summary has made a positive impression and look forward to your support and feedback. Thank you in advance for your time and attention. Stockus Developers tl;dr New blockchain platform allowing fantasy trading, limited capital at risk for the chance to make substantial amounts of money. Project currently under development, ICO later in the year, feel free to ask any questions! Facebook: https://www.facebook.com/StockusProject/ Website: www.stockus.io Twitter: https://twitter.com/stockusproject
[uncensored-r/CryptoCurrency] Genesis Vision and why this is one of the most promising projects of 2018 that no one is talking ...
The following post by IAmThe_ParTY is being replicated because some comments within the post(but not the post itself) have been openly removed. The original post can be found(in censored form) at this link: np.reddit.com/ CryptoCurrency/comments/7ra59m The original post's content was as follows:
Genesis Vision, the platform with a spectacular team and advisory board, low coin supply, entering a market valued over 70 trillion dollars adding full transparency for investors! Current price: $ 21.14 USD Market cap: $ 78 million USD Circulating supply: 3.7 million GVT Total supply: 4.4 million GVT Exchanges: Binance Kucoin HitBTC Ether delta More being added soon Basic information (1) Genesis Vision is going after an industry that has never been transparent; asset/trust management. Traditional trust management systems are a black box to potential investors. In any event, investors transfer money to a financial manager and then wait to receive profits. They receive a statistic on the use of their assets and the financial manager's performance, but investors have essentially no way to verify this information. Too often, the real situation is understood when the money can no longer be returned. A large number of fraudulent conducts in the trust management market was detected in recent years. (2) The natural reaction for this situation was tightening the regulations in this sphere. This leads to serious limitations on the potential of market participants and lack of usability. However the global asset market is growing, the amount of funds in management was more than 71 trillion dollars in 2015. (3) Genesis Vision is a platform (GVP) for the private trust management market, built on blockchain technology and smart contracts. It unites exchanges, brokers, traders, and investors into a decentralized network, making the financial market more global and transparent. They believe that implementation of blockchain will allow the trust management market to achieve transparency and efficiency on the technological level. In the trust management there are three participants in the market:
The Investor, transfers funds to experienced traders who manage their funds.
The Manager, a trader or company who trades for investors. They receive a commision from the profit.
The Brokers, companies that have the appropriate licenses to carry out brokerage activities. Through brokers, traders have access to trading financial instruments on exchange and over-the-counter markets.
The GVP works as follows; Each manager in the Genesis Vision network has his own cryptocurrency. The process of transferring funds to the manager is carried out by buying a manager's cryptocurrency on the internal exchange. From the manager’s point of view, the trade process will not change. The trader will continue to operate on the exchange or through a broker. Genesis Vision, in turn, represents a common open source of reliable information about the statistics of the network participants' activities and a transparent system of investment and profit distribution, built on smart contracts. Some advantages for Investors: Investors have access to managers from all over the world; Profit distribution is completely transparent and open; There is better availability of investment portfolios(high-risk, low-risk, etc.); All managers have a real trading history that cannot be faked. Some advantages for managers: Attract investors from any country; Transparency and fairness of report construction guarantees fair competition between all managers; There is increased investor confidence; Opportunities for promoting your own trading strategy to attract more investors; Managers issue their own branded cryptocurrency. Some advantages for brokers: Brokers have an opportunity to attract investors from all over the world; Brokers have the right to do any marketing; The system does not require any information about the broker's client base. Use of Genesis Vision Token (GVT) GVT is a currency of the Genesis Vision Platform and will be used for all investment operations and profit distributions. The platform is the place where investors can purchase and sell managers’ coins. Managers have a limited amount of coins, which depends on their level. Initially, these coins can only be purchased directly from the manager for a fixed price. Afterwards, they can be freely traded among the investors on the internal exchange. In this case, investors determine the price based on supply and demand. The cost of these coins will depend on the success of a manager’s trading because the manager’s profitable trading makes his/her coins "profitable." So investors want to get a higher price for the coin. This method has several advantages over the traditional scheme of transferring money to a manager’s account: The manager's coin itself is an asset; At any time, the investor can transfesell this cryptocurrency on the internal exchange; The user buys “tangible” coins and can be cashed at any time. When investors purchase coins, GVTs are transferred to a broker's account, where they are converted to required currency and transferred to a manager's trading account. Coin holders receive part of the manager's profits, according to their share, minus the manager's commission and fee. The GVT will be used for all investment operations, profit distributions, and managers’ token trading on the internal exchange. Token distribution 40%: Development, Support; 30%: Marketing; 15%: Integration, servers, connectivity, auditing; 10%: Legal 5%: Other. Connecting a Broker The owner of the trading platform needs to install the Genesis Vision software, which is free and distributed with an open license. Company, Team & Investors The project started on November 20, 2016, when Ruslan Kamenskiy and Dmitry Nazarov won the HackRussia hackathon in the nomination “Finance and Blockchain” with the Genesis Vision project. At the beginning of 2017, Alexey Kutsenko, CEO of Tools For Brokers joined the team. His fintech company has been operating on the market for eight years and has more than 300 brokers as clients. Alexey helps elaborate strategy for entering the market and manages details of Genesis Vision’s trust management solution. (4) In total, the project has 10 team members and 14 advisors. CEO: Ruslan Kamenskiy, 7+ years financial software developer. He developed a trading system for the stock exchange “Saint Petersburg”, was head of the software department of a financial broker company, and implemented HFT strategies for the hedge fund. (5) CTO: Dmitry Nazarov, 6+ years software developer in international financial organizations, among them are a brokerage company, a stock exchange, and an UK-based foreign exchange company. (6)Technical lead: Casimir Compaore, 10+ years of development experience, especially in the field of data science. He worked as an Information Technology Officer at African Union Commission and has experience in ASP.NET, Agile/Lean development and is a Microsoft Certified Professional Developer. (7)Partnerships Tools for Brokers Inc, develops technological solutions for Forex brokers operating on the stock and currency markets since 2009. (8) Roadmap (1) - 2018 M4: Genesis Vision Alpha finished: Blockchain platform, Integration MetaTrader 4, Client App Alpha, Marketing for attracting partners’ brokers - 2018 M5: Integration MetaTrader 5 - 2018 M7: Integration Fix/Fast - 2018 M9: Genesis Vision Beta finished: Blockchain platform, Integration Crypto Exchange, Client App web - 2018 M11: Client App Mobile Beta - 2019 M1: Genesis Vision V 1.0: Blockchain platform, Stock exchange integration, Mobile and web app, Campaign to attract brokers. - 2019 M2: Campaign to attract managers and investors. - 2019 M7: Client app backoffice for brokers - 2020 M1: Genesis Vision V2.0: Blockchain platform, Bank integration, Mobile and web app Sources (1): https://genesis.vision/white-paper-eng.pdf (2): http://www.financemagnates.com/forex/regulation/30-million-forex-ponzi-scheme-unveiled/ (3): http://www.agefi.fsites/agefi.ffiles/fichiers/2016/07/bcg-doubling-down-on-data-july-2016_tcm80-2113701.pdf (4): https://www.linkedin.com/in/alexey-kutsenko-59237b78/ (5): https://www.linkedin.com/in/ruslan-kamenskiy/ (6): https://www.linkedin.com/in/dmitry-nazarov-01b382105/ (7): https://www.linkedin.com/in/casimircompaore/ (8): http://www.t4b.com/ Source: Wolfpack research group Edit: community built website for added information GVT community
The Insured Profits Review - Does It Scam or Worth System!!
What is The Insured Profits Software? Insured Profits is just about the hottest binary options software to be sold and it’s really ensuring large profits for it users to make.The Insured Profits application was created to locate options investments so when the application confirms a exchange that could make you money it’ll instantaneously alert you. In case you have never traded options before then be assured that you will not need any skills, tools or software to make the Insured Profits work because everything required is included inside the application on its own. Insured Profits Review: Profit can be earned in all the 60 seconds of the day and trading for a few minutes generates as much as $2000 profit in one day. There is no specific amount needed for an initial investment with Insured Profits software and almost everyone can rejoice the system for free for limited time. Turning $20 into $2000 is made possible with this money making software. Unlike other systems, Insured Profits does not claim to benefit users with millions of dollars. As there is no such possibility of getting rich within days, this system keeps its statements simple and easy to believe. The only claim it makes is that the users will not have to wait long for profits as it generates profits after every 60 seconds.
So How Do We Make Money? Learning how to use the Insured Profits program and being profitable is straightforward as flipping on the program and waiting for a sign to let you know exactly what pair to place a trade on. Once the program spots a profitable trade you can head over right to your options broker to make the trade that will be either a call, or a put. A call means that the option will move up and the put signifies that the binary option is likely to shift down, and whenever you’re making a trade that finishes within the direction you have chosen you’ll get paid an enormous profit as much as 95% or more No matter whether you merely started out finding out about binary options and the fun new way to begin trading because Insured Profits will give you the opportunity to bank payouts up to 75 percent return for every winning trade! Now anyone can get started trading binary options with this program tonight and have their first profitable trade with this software help! Exactly What’s The Software Gonna Cost You? The programmers have taken the free option with their software which means you will receive the software without having to spend anything, but in the event you want to invest in binary options you will have to have capital to to make trades.. That should be fairly apparent. With that said, the creators will provide you with the software program to begin forex trading within 15 minutes however, you need to invest in one of the many agreed on options brokers. This is actually the sole method the software developers get paid for their work, and everyone is pleased since you also receive a forex trading software set-up with money to get started on trading within just 15 minutes. How Do You Start Trading Insured Profits? In order to start making money in the next 15 minutes when using the Insured Profits you have to follow the 3 steps down below.
Clear ALL the cookies on your whole computer
Please the link below and join Insured Profits Software
Invest trading money into the binary brokerage service the software suggests
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Never Traded Before.. Can You Profit? You’ll be ready to get investing using the computer software regardless of what history in investing you’ve got, nevertheless here are some tips to help you begin making money quickly and continue your profits protected. First, start with committing the minimum amount per trade. This will help you master the current market, as well as the computer software. Furthermore, follow the computer software completely so you can benefit from the substantial rate of success. Provided that you stick to the suggested positions of Insured Profits you can make the most of their massive profitable trades percentage that’s pretty much at 85%! 6 Best Things I Liked with This Software Lucrative :
The program has long been tested and it’s accomplishing 87 percent success spanning thousands of trades since it was unveiled to the general public.
Six figure traders are earning cash with the software.
Right now there is no stopping you from making money because the program really does all the work, and can help you to start trading within the hour or so from right now.
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The system is user friendly and incredibly intuitive.
On top of all those things, there is live support to help you if you have problems.
Bottom Line: I’m personally going to continue using the system as I think the results are positive. I am going to up my trade size to $100 and try and maximize my profits. I recommend that you get started with a deposit you can afford. And then use around 5-10% of your account per trade. So if you have $1000, you can risk $50-$100 per trade. If you have a $500 account you can risk $25-50 per trade and so on…
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