Is binance reliable to trade bitcoin futures?

misterkel said:
What is wrong with the 'traders' who can't figure out their own way around crypto markets so simply make up unsubstatiated nonsense? Many exchanges are fully regulated, especially using KYC/AML and local regs.
The good exchanges have set up very sophisticated deleveraging engines that ensure that traders aren't screwed by bad actors. You can study their systems and see if they are secure enough for you at what levels. See how they handled past hacks. Learn what their real reputation is in the crypto world. See how transparent they are. See how large their operations are and how sophisticated their engines are (this is a sign of how likely they are to remain and not to do an exit scam). Binance has hundreds of employees, everyone knows the owners names (they are billionaires now, so why would they possibly steal a bunch of crypto to be eternal fugitives from the law - they're making massive amounts of money legitimately).
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yes, Binance got hacked and people lost money , they refunded everything

https://asiatimes.com/2019/05/binance-offers-full-refund-after-40m-hack/
 
misterkel said:
Please do your research before you make unsubstantiated claims.
"There are a number of regulated fiat-crypto exchanges using the Binance brand and technology, including Binance Singapore, Binance.US, Binance Jersey, etc. All of these are independently operated and fully compliant with their local regulations. There is, of course, the Binance.com global centralized exchange."

Again - BINANCE IS A REGULATED EXCHANGE. Learn it and stop claiming otherwise. It's embarrassing.
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I always try, sometimes I miss things and always first to admit when I am wrong. In case of Binance they registered in Malta. And if you can not trust Malta regulators whom can you trust. :D

One of first/ biggest orange flag is amount of leverage that is offered. Not always of course. But when leverage offered by Malta, Antigua and etc registered brokers, it kinda get close to red flag.
 
RedDuke said:
I always try, sometimes I miss things and always first to admit when I am wrong. In case of Binance they registered in Malta. And if you can not trust Malta regulators whom can you trust. :D

One of first/ biggest orange flag is amount of leverage that is offered. Not always of course. But when leverage offered by Malta, Antigua and etc registered brokers, it kinda get close to red flag.
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Leverage is "orange flag" only for you. I'll repeat it again, if you ever worked in prop shop / institutional setting - you wouldn't say that. Even if you had PRO classification by EU/UK regulations, which is not difficult to get, you would notice that pretty much every single broker which does not offer higher leverage for standard clients, can give you 100x easily with pro classification.

When I see these posts "oh leverage is bad, red/orange/black flag" the only thing it highlights is that this is coming from some retail, with no finance/ trading education wannabe trader who watched too many youtube videos on "leverage is double edged sword". Again, you won't see such an idiotic comments in pro setting.

Do yourself a favor and learn to manage risk!
 
I think what people mean when they say leverage is bad is that the typical retail trader is too under capitalized for the amount of risk, and is more akin to gambling. For example es futures with $500 margin requirement is like 400:1 leverage, and brokers will let you start trading with just a couple grand in your account. But trading es with only $2000 account balance is bad, and for this account balance, "leverage is bad"
 
I see what you're saying. But this would mean that AMP and other likes should be flagged too and called shady brokers. While they're not. The system is designed, so that everyone could manage risk. And leverage is not only good, but it is also necessary if you want to survive. No one should blame a broker, just because they cannot manage their risk or gambling addictions.
 
zenlot said:
Leverage is "orange flag" only for you. I'll repeat it again, if you ever worked in prop shop / institutional setting - you wouldn't say that. Even if you had PRO classification by EU/UK regulations, which is not difficult to get, you would notice that pretty much every single broker which does not offer higher leverage for standard clients, can give you 100x easily with pro classification.

When I see these posts "oh leverage is bad, red/orange/black flag" the only thing it highlights is that this is coming from some retail, with no finance/ trading education wannabe trader who watched too many youtube videos on "leverage is double edged sword". Again, you won't see such an idiotic comments in pro setting.

Do yourself a favor and learn to manage risk!
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Sure bud, tell it to Archegos “retail” crowd.

where do you see I say leverage is bad, we use it every day. I am talking about insane leverage which 400x plus is. Recipe for disaster unless one is a bucket shop. I am not saying Binance is I am saying it is a flag.

and no, Binance does not follow regulations where it is. For example, they offer futures and not registered or regulated by CFTC. Amp for example is.
 
You're implying that futures contracts which are not CFTC regulated are not legit? Eurex has plenty of contracts in EU, which is not CFTC registered. Not everything is US centric, especially true for crypto space.
 
zenlot said:
You're implying that futures contracts which are not CFTC regulated are not legit? Eurex has plenty of contracts in EU, which is not CFTC registered. Not everything is US centric, especially true for crypto space.
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do not be a troll. Of course Eurex contracts are legit. Reputable exchange and regulated by reputable government body, years ago used to trade Dax and euro stocks 100.

my question is about futures on off shore exchanges like Binance. Once again, I am not saying they not legit, all I am saying it looks fishy. Who clears them? Who regulates and audits them and etc.
 
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