Our BTC/USD market will be closed on Monday, November 18th 2013, 4:00 pm (GMT+1).
There are multiple reasons behind this decision:
- This market was hardly profitable for us. The extreme high volatility makes it also extremely risky for market makers to offer a derivative. The only way to fight this is with low limits and high spreads, which both lead to unsatisfied traders.
- The data connection to most Bitcoin/U.S. Dollar exchanges is unstable or comes with huge lags. Many exchanges don't have a real-time data stream or (re)move such APIs without warnings.
- We had to put extraordinary much time and resources into managing this market.
- Although we have ideas to overcome the above problems, a new implementation is complex and needs a lot of work.
Is 1Broker bankrupt?
No, we currently have roughly two times the amount of all users' assets as reserves.
Will open positions get force-closed?
Yes, on Monday 4:00 pm (GMT+1) we will close all open BTCUSD positions with a market order. If you want to avoid this please close your position until then.
Wait .. you have collected the spread and now my position needs to be closed?!
Before the weekend, the spread will be lowered to 0.01 points to make this a non-issue.
What is the future of 1Broker?
We will concentrate on the other markets and improve the whole platform even faster. In the near future we will add a lot of new markets.
Will the BTC/USD CFD come back?
We don't know yet, but if yes, it will be in a completely different form.
Why is 1Broker so incompetent? Offering derivatives is easy!
Great, we would gladly outsource the management and risks of this market. If you have enough know-how and financial reserves just contact us.