Anyone Trade With Lite forex or Other Bitcoin Forex Brokers?

So lately I've gotten into this thing called Bitcoin. Basically it's a unregulated internet currency which has become vary popular especially this year since the cost of one BTC crossed above $100 and $200 price point.

Anyways the other day it dawned on me why not try to find a forex broker offering Bitcoin deposit/withdrawal. After a quick google search only a few brokers offer this option (which is understandable) LiteForex, FirstNationalIB, 1Broker, and Bit4x. Haven't heard of these brokers before though which is a bit daunting since I've been apart of the fx industry for a number of years.

Anyways back to the point, Has anyone used either of these brokers? One or two look kind of sketchy but you know what they say don't judge a book by it's cover. (Which is why I'm posting here)

Can anyone verify the legitness (<- Just invented that word) of at least one of the above mentioned brokers?

if libertyreserve is any history lesson, it's probably best to go with a broker with a more reliable set of payment processors where money is kept in a bank.

of course, the bitcoin exchange is a peer to peer network and there's no way to regulate it, but that doesn't mean the government isn't trying. They are targetting exchanges, remember the incident with MtGox? Anyways, you're taking unnecessary risks with your own money. Let's not forget that the Bitcoin market can crash like it did in April where all major exchanges shut down.

1. Libertyreserve was run completely different from bitcoin which is as you said peer to peer not a ecurrency payment processor. At one point they (LR) had servers stationed within the US. Which is just asking for a can of government smack down. If your going to do something illegal don't base it in the US. Uncle Sam doesn't take to kindly to that sort of thing.

Bitcoin does not have a central website for currency conversion/transactions, user login ect unlike LR. Furthermore Fincen which is sanctioned by the government acknowledges bitcoin and "internet currency" as a legitimate business model as long as all the proper licensing is purchased. So if US citizens abide by the laws everything is legal. Moving on

2. Again the incident with MtGox was it was conducting business through a US bank without the proper paperwork/licenses to do so. Now that MtGox has gone legit everything is back up and running as it was.

3. The US Dollar, Euro, or any currency could crash without notice. Have you checked USD/JPY lately it crashed and crashed hard. Actually one could speculate the bitcoin market didn't crash it was just over inflated? When a market crashes is when smart money jumps in and makes millions by buying at a extreme discount. I don't really care what it's value is to be honest btc could be worth 1 CENT and I'd still use it.

Anonymity is more important to some people than "safe fiat".

I'm not sure if you forgot while constructing your anti-bitcoin-hate post the point was to get feedback on the above mentioned forex brokers. How I choose to invest my own money whether if be Bitcoin or otherwise is up to my personal risk appetite. If I or anyone else finds bitcoin or other ecurrencies to be a good investment one post from jhehe isn't going to change anyone's mind.

For someone that is so strongly against bitcoin you sure are knowledgeable about the subject. Is it possible you had an investment go bad?

If you don't like bitcoin that certainly is fine with me but don't come on to my thread bitching.

johnny makes no sense. and seams mean, and doesnt own threads

when in world did usd/jpy crash ? Plus no one says usd/jpy crash, they say usd or jpy crash, so again makes no sense.why would broker want to speculate with depositsin bitcoin ? it did crash from 250 down to 50 overnite. so they loose 200 80% in a week on deposits. no sense

if you want to speculate bitcoin open bitcoin trading account. i know about a 99% winning bitcoin robot if anyone knows pm me

yeah, uhm, johnny boy, you need to check up on your facts...

How about providing some proof? Here's an excerpt on what I was trying to explain about FinCEN.

Many have been expecting the government to crack down on bitcoin and other e-currencies because it has been used for illegal activities. Instead, the U.S. government has embraced it by recognizing bitcoins as a currency and saying it would not halt their use in e-commerce.

The U.S. Department of the Treasury's Financial Crimes Enforcement Network, or FinCEN, says virtual currency has the status of real money and should be regulated as such. The Bitcoin Foundation calls the FinCEN ruling a "positive first step toward regulatory acceptance."

Source

no sense again jonny
from TECHCRUNCH today now is more Feds Seize Another $2.1 Million From Mt. Gox, Adding Up To $5 Million
dont get why he want to deposit are you shady johnny? why loose money on cost to buy btc which is can be 200egp for 1btc like buy is 900EGP and sell is 630Egp on localbitcoins.com which is main site wehere i sold from the time I mine in 2011 but justr for 3 bitcoin is all then i stop cuss is stupid with gpu but now maybe ok with asic 330mhs usb stick for 1 is only $50 and you buy 10 so is 3 -4gb. Before I almost fryed my geforce so is stupid
or maybe youve bad credit and cant get card and wont have bank account then so maybe is option for shady people or people who are lie on broker application and for tax fraud. I guess then you make sense

I have heard quite some good remarks about the mentioned brokers but I don't operate account with them. Check their spreads, slippages rate, and execution model. Google it. You will get firsthand information.