“It’s the 21rst century anonymous Swiss bank account at your service!”
Any way you want to slice the loaf is fine with me, but you need to know your
options & figure out what’s best for you … cuz no matter who the LP’s are, or
what system you’re ultimately trading Bitcoin on, there are costs … pick your
poison, higher bid/offer spread, or higher trading commissions? … and that
brings me today to a head by head comparison between COINEXX & BaseFEX.
COINEXX is closed on the weeknd, while BaseFex is open 24/7/365 … margin for
trading is 5X at COINEXX, but that can be boosted by accepting “margin bonus”
on deposit, and have leverage raised to 10X … margin at BaseFEX is 100X
… COINEXX uses the MT5 for BTC, while BaseFEX is an “order book” platform
with depth of market showing … COINEXX trades in BTC, with minimum order
size of 0.01 lots, about $91 at current price of $9100 per BTC, while BaseFEX
trades in dollar volumes you enter into the order book, starting at $1 an going up
from there … round turn [RT] commissions at COINEXX for BTC are priced like
FX, which are 0.002% notional per RT, so with BTC at $9100, the commission to
trade 1 BTC is 18 cents! … commissions at BaseFEX are based on the “maker”
[limit orders], “taker” [market orders] concept, and by signing up through my
affiliate link, you automatically get a 10% discount on commissions, so maker
commission is 0.018%, and taker is 0.054% … with BTC at 9100, that comes out
to approximately $1.64 for maker, and approximately $4.91 for taker … bid/offer
spreads are constantly changing with both platforms … when SHTF and BTC is
either going up or down “bigly & yuge”, spreads everywhere will definitely blow
out some … how much simply depends on the level of panic and the dollar
moves accompanying it … on the whole, though, BaseFEX will have a
consistently smaller spread than COINEXX by a couple of dollars … not always
but usually … COINEXX uses “liquidity providers” [LP’s] to make the bid/offer,
whereas BaseFEX uses the “order book” and your order can go anywhere in the
system that you want it … in other words, you are part of the overall market
… BaseFEX has NO KYC to open an account, and deposit / withdrawal is via
BTC, whereas COINEXX has light KYC [Gov’t ID & proof of address] … COINEXX
has trading in all markets, whereas BaseFEX is BTCUSD ONLY.
So, which is best? … well, depends on your priorities and what YOU value most
… as far as ONLY BTC is concerned, over time they’ll be close … IMHO, the big
problem at COINEXX is the very rapid change in bid/offer that can screw you
blind if you’re not careful … e.g., BTC is offered at 9101.00 and you click the buy
market button and get filled at 9112 on a complete mystery up tick, or go to sell
but it’s the other way … at BaseFEX, you can miss moves by getting too cute
with limit orders, trying to shave a few cents off your execution price, and end
up “penny wise, but pound foolish” … so, it’s all about “OPTIONS” for you, and
giving you choices so you can pick what’s best for you … I’m not trying to put
round pegs into square holes, simply give you the best that’s out there for
intelligent decision making … quite frankly, they both are very acceptable.
Directly below, the “CRYPTO, STOCKS, & CRUDE OIL VIX MATRIX TABLE” for
the current week, followed by 20 Day Range MA charts for selected pairs.
click on ANY table or chart to enlarge
CRYPTO
BTCUSD
ETHUSD
ETHBTC
XRPUSD
LTCUSD
EOSUSD
DASHUSD & BCCUSD
STOCKS
AAPL, AMZN, GOOG, & TSLA
CRUDE OIL
WTI CRUDE OIL
Onto the Holiday shortened week … until tomorrow mi amigos
… Onward & Upward!!
Have a great rest of your Holiday weekend everybody!
-vegas
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