From theory to practice - page 267
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Bitcoin (BTC/USD) at forex dealers and crypto exchanges are completely different. The gaps at the dealing desk are coming from somewhere, and the spreads are huge, and the candles do not match, and the volumes are wrong.
I dare say that the eurusd of real exchanges is also different from what the dealing desk gives us.
I am not interested in Bitcoin at all. Although I have some)).
The "good" broker-dealers, if they exist at all)), have the same thing with the market. The bad ones really have nothing in common. But, again, the quotes should be made by dealer, like prices in the foreign exchange market.
Some brokerages coincide with the market tick to tick. I checked it myself.) For some instruments.
Because the crypto market is decentralised, and each exchange has different prices and volumes
Crypto exchanges don't really have that much dispersion. If there is a spread, arbitrageurs will appear and smooth out the spread.https://coinmarketcap.com/currencies/bitcoin/#markets
Dealing desk has "artificial" bitcoin prices, inconsistent with exchanges. They change prices in order to get more profit from open trades (to move the price to stops) at a particular moment.
Some forex brokerages match the market tick to tick. I checked it myself). For some symbols.
Is there a site where you can find out the current prices for eurusd, for example? And compare them with the ones that the dealing dealer gives me to make conclusions.
Crypto exchanges don't really have that much of a spread. If there is a spread, arbitrageurs will appear and smooth out the spread.https://coinmarketcap.com/currencies/bitcoin/#markets
Dealers have "artificial" bitcoin prices which do not match exchanges. Prices are changed by them, in order to get more from open transactions at a particular moment (to move the price to stops).
Smooth)
Is there any website where I can find out the current prices of eurusd, for example? And compare them with the ones I get from dealing to draw conclusions.
There is such a site. But I used it a couple of years ago. I cannot promise, but if I remember - I will write to you in person.
I used this site to enter gold, etc. on the stock exchange.
ZS Actually, you can judge from MY site - it's almost 1:1. But only almost.
i.e. if a dealer suddenly starts giving me bitcoin prices like an empty exchange with paltry turnover and huge spreads, while having access to much better suppliers, is that OK?
i.e. if a dealer suddenly starts giving me bitcoin prices like an empty exchange with paltry turnover and huge spreads, while having access to much better suppliers, is that OK?
It is normal. Quotes, by law, are set by the DC - it's its own business. Like a currency exchanger, for example.
I.e. if a dealer suddenly starts giving me bitcoin prices like an empty exchange with paltry turnover and huge spreads, while having access to much better suppliers, is that OK?
Quite.
For example, I needed a physical euro last week. I needed to go to the bank, sell dollars and buy euros. I made it easier: I transferred dollars to the exchange, and on the exchange I bought euros by limit order at 1.1520, then I transferred euros to EPS, and from there to a physical euro card, and in the bank I got already paper euros. Savings were ~380 euros, because I bought them at an interesting price. So that's the pricing.
That's fine.
I was being a bit sarcastic there, I understand that it's legal and why the dilemmas do that.
I just wanted him to think about the fact that the market itself equates any decentralisation (in the example in the screenshot - commissions, spreads, and deposit/withdrawal percentages minimise any profit). And the obvious phenomena and price spikes at dealing are not good. And if you think about it even more, with the price of eurusd at the kitchen, this kind of price dispersion compared to the exchange can also happen.