1Broker - Secure Bitcoin, Forex & Contract For Difference Trading?
Following the entry of digital currencies in the market and their steady rise in popularity and adoption, a number of different investment opportunities have come to the forefront of the consumer experience.
For beginners and seasoned investors alike, this has been a rewarding and compelling source of new investment ideas that are directly tied into this new innovation. Companies have also tried to come up with investment and trading solutions that satisfy this need, with varying degrees of success.
One major player in this space that has proven to be a significant force with solid features and service capabilities goes by the name 1Broker.
Launched in 2012, 1Broker has become a widely used platform by virtue of the solid features and reliability that it brings to the table, and has been the home for hundreds of thousands of satisfied users over the years, carrying out trades and connecting different investment markets with the world of Bitcoin.
1Broker Special Features
In essence, 1Broker is an innovative platform that brings together multiple investment markets, and integrates them with the world of Bitcoin investing and rewards.
There is a large number of supported markets including stock, index markets, commodities, forex markets and crypto markets that users can invest in, and this wide range of possibilities gives rise to the ability for investors to delicately fine-tune their investment strategies.
The platform itself makes things a lot easier by implementing the right features and tools, which can make investing in these different markets a fast and simple process.
The power of this platform can be harnessed effectively due to the Bitcoin-based trading and reward system, which does away with the problems of flat currency, implements better security in the mix and helps stabilize the value structure of the platform.
One of the most important features that any investment platform can have is to give investors the option to choose from multiple markets, allowing them to diversify their portfolios and choose different investment areas according to their requirements.
By implementing multiple markets into their platform, 1Broker makes life much easier for investors.
With this much versatility on offer, users have a lot of power while making decisions. The integrated customizable leverage system allows users to adjust the risk factor on particular investments.
Users looking to take conservative risks can choose to invest in stock platforms, while those looking for better gains at the cost of more risk can dabble in the speculative world of forex markets.
Great Interface And Security
1Broker really shines through when it comes to ease of use and security, and much of this can be attributed to the steady development that the platform has gone through over the years since the 2012 launch.
The web interface has been built with speed in mind, and loads instantly across a wide range of devices. Instead of cramming in features and bloating the interface, 1Broker has instead focused on a few necessary features, keeping the platform minimalistic and speedy.
Security is paramount when it comes to 1Broker, and there are high-level security measures in place to protect the Bitcoins of users. Conflict of interest is avoided by limiting access to funds to one overseeing party, and most of the Bitcoin in circulation is stored in paper and hardware wallets for secure storage.
The platform keeps distributed backups of wallet data in encrypted form, bringing better security than most other platforms.
One of the most enduring features of 1Broker, that makes the platform one of the go-to choices even for beginners in the field of crypto-based investment, is the social platform.
Users have the option to share their trades and strategies, look at the shares of other users, comment on them and leave feedback. There is the option to build users profiles that other users can view, making it a truly social experience.
The most powerful feature of this social system is the feature that allows users to copy the investments of other users. This way, beginners have access to advanced strategies, while seasoned veterans can generate more rewards by creating innovative strategies.
Overall, 1Broker is an established name in the investment business for good reason, and looks poised to grow even more in the near future.
Below is our 1Broker news. Here you'll find some of our featured 1Broker Bitcoin content pieces as well as all our latest 1Broker Bitcoin Trading posts.
1Broker Bitcoin Trading Company Upgrades Users Wallet With SegWit
A recent announcement by 1Broker will see the Bitcoin trading platform upgrade its wallet infrastructure to be fully compatible with SegWit. This change is bound to take place on Sunday 20th may 2018.
SegWit is a short word for segregated witness and it simply means to separate transaction signatures. This is a process by which the block size limit on a blockchain is increased when some signature data from Bitcoin transactions is removed. When some parts of the transactions are removed, some more space or capacity is freed which allows the addition of more transactions to the chain. This protocol upgrade changes the way data is stored. It was first activated on Bitcoin on 23rd August 2017. The developer of the protocol is Pieter Wille.
The advantages of SegWit include that the protocol eliminates restrictions that limit the number of transactions Bitcoin can process. This ensures the increased growth of Bitcoin and allows Bitcoin to become a usable high volume payment system. Additionally, SegWit reduces the weight of the transactions which allows more transactions to fit in a block allowing Bitcoin to process a greater throughput without any change to the block size.
This move will see the users of 1Broker change their current deposit addresses to new ones as transactions sent to the old addresses will not be credited. In case a user erroneously sends crypto funds to the old address, the funds will only be credited to the new address manually based on a request by the user.
The benefits of SegWit on 1Broker include the upgrade increases the available space for every transaction for each block. Another advantage is that the platform makes it possible to use second layer solutions such as the lightning network.
The 1Broker compatibility with SegWit will allow for instant transactions between 1Fox and 1Broker. 1Fox is 1Broker’s BTC/USD trading platform. The platform allows users to trade derivatives on some of the most prominent cryptocurrency markets.
Further, users will benefit from lower fees as withdrawals made by users to regular addresses will be charged at a lower floating fee compared to earlier fees charged to users. This fee will be updated hourly and will be based on the Bitcoin network fees.
Some other changes that will result from the new upgrade include Bitcoin transactions can now be sent to a new alternative address of the Berch32 format.
Additionally, the current 1Broker API version 2.2 will be subject to the changes below:
- The old user Bitcoin deposit address will be replaced by a new user/deposit. php method
- There will be a new position/get.php method that will work for both open and closed positions, as it will return details for a single position
After the update, these details can be accessed in the API documentation.
What Is 1Broker?
1Broker is a platform that allows users to participate in real-world markets using Bitcoin. The exchange is a bit different from other cryptocurrency exchange as it has more than 40 selected stock, index markets, and commodity markets. The platform offers social trading, sharing of ideas, and copying of trades. This innovative platform brings different investment markets integrating them into the world of Bitcoin.
Bitcoin Futures Firm 1Broker Charged With Securities Law Violations by SEC and CFTC
1Broker Bitcoin Futures Firm Charged With Securities Law Violations
On September 27th, the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) filed charges against Marshall Islands-based international securities dealer 1pool Ltd., which was offering Bitcoin-funded security-based swaps.
The regulators stated that they are charging 1Broker as well as CEO Patrick Brunner for selling security-based swaps to the U.S. and international investors without following customary discretional investment thresholds. The SEC further alleges that 1Broker was not registered a security-based swaps dealer and failed to accomplish its security-based swaps on a registered national exchange.
The complaint was registered in the U.S. District Court for the District of Columbia and seeks permanent orders, disgorgement plus interest, and penalties. Notably, Commodity Futures Trading Commission (CFTC) has filed its own charges against 1pool in a separate action.
The complaint further says that a Special Agent with Federal Bureau of Investigation (FBI), acting undercover, purchased security-based swaps on 1broker’s platform from the U.S., though he did not comply with the discretionary investment thresholds required by the federal securities laws. The SEC also adds that users could open accounts on the platform with their email address and a username only, without providing supplementary information.
1Broker Not The Only Firm To Go Down
It is clear that this is not an isolated event and is the first in the series of similar crack downs to come in the future.
If similar actions are supposed to be expected from the regulators, seems like currently, decentralized wallet might be safer than centralized ones. Alex Krüger who goes by the Twitter handle @Crypto_Macro added his insights to the discussion.
He goes on to say that this incident sounds familiar and shouldn’t have taken us by a surprise. 1broker had started offering CFDs on cannabis stocks, offering traders to open an account with an email address, fund it with bitcoin, and hit it with 50x leverage. So, according to Alex, this is much more than just trading unregistered securities.
Krüger says that many non-US crypto exchanges will be at risk at going down. However, there might be some good news.
Crypto Macro then goes on to say that Bitmex also falls under the same jurisdiction as 1Broker.
What Should Customers Who Want to Withdraw from 1Broker Do?
If you have funds on 1broker and are receiving the seizure page, and need to withdraw here's what you do:
- Open C:\Windows\System32\drivers\etc\hosts
- Make a new entry in that hosts file, with this format: 220.127.116.11 1broker.com
- Save the file
- Open up CMD, and run ipconfig /flushdns
- You will now be able to access 1broker
- Open /etc/hosts file
- Add a new entry 18.104.22.168 1broker.com
- Save the file
- You will now be able to access 1broker
Currently, it seems like withdrawals are going through without any issues. Due to the heavy traffic from many users withdrawing, your transactions can request might be queued but will surely be executed.
Trading Strategies for Winning the OTC Cryptocurrency Broker Game
In the game of digital currency, only the brokers come out winners. But what if there was a way for you to buy or sell crypto-currency without moving the market up or down. After all, if you have a significant amount of crypto-currency for trade or are looking to buy a large sum, buying or selling over the exchange can end up being a costly endeavor.
If you are playing the game, then you know that the best way to make such high exchanges is to use OTC. Over the counter, trading doesn’t affect the market one bit. But if you don’t know what you are doing, you might have wished you took your chances on the crypto-currency exchange market. With so many different points and players to watch out for, your investment in crypto-currency could end up costing you more than you imagined when you play the market wrong.
Of course, no one wants to lose their shirt when buying or selling crypto-currencies, but it happens to those who are new to the game. That is why a lot of investors choose to go with OTC trading.
Over the Counter Trading
OTC trading merely is trading directly between two parties instead of using the market. There are two ways you can go about trading OTC. The first is using an inter-dealer broker who is a firm that helps match buyer and seller. With an inter-dealer, you get a fixed fee for both the buyer and the seller to compensate the firm for their matchmaking services.
The second venue for OTC trading is to hunt for a principal OTC trading corporation or company. Usually, this firm acts as the secondary party and takes a lot of the risks. Of course this venue charges fees as well that can be equal or greater than what inter-dealer charges. If you go with the principal OTC company, it is important to note that they look at all angles of the deal. The company checks the market and are always looking for ways to hedge their side of the agreement along with ways to profit from the trade.
When dealing with brokers from either venue, you should know that it won’t come cheap. Unlike using the market to make your trade where everything is available for you to see, with an OTC broker you won’t know what the market looks like that day, or what the broker will be charging. Of course, the second reason people go with OTC brokers is to remain anonymous. After all, you don’t want the world to know what you have in your pocket.
But some people chose to go with OTC trading for other reasons. However, if you go into this kind of deal blindly, you might end up with the short end of the stick. Brokers are after one thing, earning money and they trade for a living. So how do you go about using an OTC broker to exchange large amounts of crypto-currencies?
Winning Strategies For Dealing With OTC Brokers
Getting the Best Deal vs. Face Value
Playing the game of crypto-trading is a lot like playing a hand of poker. You don’t want to show your hand until the last minute. A lot of traders make this mistake when dealing with an OTC broker. You may think that you can shop around to get the better deal. After all, being a consumer is all about getting the best bang for your buck. With crypto-currency though, you don’t want to arbitrarily call brokers asking for their rates and the amount you want to trade. This would be the equivalent of you showing your hand to the dealer at a poker table.
The information you give out to the brokers over the phone can be used against you. For example, say you are looking to trade 1,000 Bitcoins or more, and you call an inter-dealer. That dealer will now reach out to their network in search of a buyer. In the meantime, that same network now knows there is a player in the game who is motivated to sell. What is going to happen is the network can now stop their buy orders, which will lower the price of Bitcoin to secure a better rate for the network once your trade goes through. Pretty tricky right?
Instead, pick one or two brokers to deal with and make the trade happen quickly without the word spreading too rapidly. The more time your broker has sitting on your deal, the more chances they have of swaying the market in their favor. Don’t give them that time by shopping around. Stick to one and push the deal through fast.
The Price is Right
Remember that the network of brokers is relatively small and word spreads fast in their network. So when you are on a call with a potential broker, you need to ask for both buy and sell rates. Don’t make it clear or specific that you are selling or buying. Keep your options open so that the broker you are dealing doesn’t know your game plan.
Case in point, say you are selling your crypto-currency. You mention that to a broker, and as soon as they hang up with you, they are selling their shares of that currency. After all, it is a sell high, buy low world with brokers. They push their currency and score a high price. Once you sell, the market is now low, and they can buy back their currency at a cheaper rate.
What you should do instead is hunt for a broker before you even need one. Make the call and ask relevant questions like what their fees are, what the market looks like for both sides of the coin. Ask them broad questions that cover both buying and selling aspects. That way, the broker doesn’t know if you are a serious contender or just a tire kicker. And whatever you do, don’t mention how much you are trading or buying.
Timing is Everything
Another thing you should do when dealing with brokers is unpredictable. If you have a significant amount of the digital currency you are trying to get rid of, don’t sell it off all at once. Split it up into several smaller amounts to keep the brokers guessing on what you have. Plus trading a more modest amount will be more profitable for you with broker fees.
Also, if you use the same broker, call during different times of the day and on different days. Brokers want to be able to find a way to make as much money as possible from their trades. So don’t give them any excuse to use your trade to their advantage.
Also, you shouldn’t buy or sell when the market is incredibly high or snail slow. You should pick a time in between that allows you the best options and rates.
When it comes to the game of buy and sell it is always best to do some research. Make the calls if you must keep your cards close to your chest. Don’t let the OTC brokers know what you are playing with. This way they can’t gouge you for different rates or lure you in with a ‘too-good-to-be-true-rate” only to nail you later with the real amount. Shopping around may work for other things, but not when it comes to digital currencies.
With the exchange market so versatile it is difficult to know when a good time to buy or sell is. That is why you should have your broker picked out before you make any trades. And once you have a deal on the table, push it through quickly to earn the most bang for your buck without getting taken for a joy ride by your broker.