Monday, June 27, 2011

Well that was a fun dash in ipredict, but now the honeymoon is over

Recently the iPredict admin put this on their blog (https://www.ipredict.co.nz/app.php?do=blog)

  • $2.50 account set up fee
  • $2.50/month account fee
  • 0.35% trading fee (35 cents per $100 traded); 0% trading fee on Active Orders and bundle purchases.
  • No withdrawal fee.
We will be introducing a close account function with this change.

So alas, this has cut the bottom right out of the market, for small traders like me with sub-$100 amounts invested in different stocks.



I have big issues with this.....
- Most stocks take more than a month to mature
- If you gains are consistantly 30% (@$100 invested) you will end up with negative returns
- With no-one taking the "cheap risks" the only players left will be the sharks, completely red water market but with no prey.
- ipredict was a tool to define what the people think, now it is what the elitist think.

I believe you will find this is the beginning of the end of ipredict. No doubt there will be somebody out there that is thinking - "Hey now is the perfect time to create a competitor". If so you are correct, not only are you correct - but I have $1000 to invest in your company and become a shareholder. I will even help you get it off the ground. Drop me an email farrst@gmail.com if you wish to start this venture.


www.farrst.blogspot.com