Magnr - Revision history

NotATether: Magnr — drop redundant discontinued ambox

2026-09-09T10:40:34Z

Magnr — drop redundant discontinued ambox

← Older revision		Revision as of 10:40, 9 September 2026
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	~~{{ambox\|type=caution\|text='''Trading and savings discontinued.''' Magnr ended Magnr Trading and Magnr Savings in January 2018. The company later described a shift to venture capital activity.}}~~
	{{Infobox company		{{Infobox company
	\| image = [[File:Magnr_Company_Logo_2015.png\|220px]]		\| image = [[File:Magnr_Company_Logo_2015.png\|220px]]

NotATether: Magnr History — trading/savings ended Jan 2018; drop product marketing

2026-09-09T09:47:32Z

Magnr History — trading/savings ended Jan 2018; drop product marketing

@@ Line 13: / Line 13: @@
 '''Magnr''' was a London-based bitcoin company that offered leveraged trading and an interest-bearing bitcoin savings product. The trading platform originated as '''Btc.sx''' around 2013. The Magnr brand and savings product were promoted in the mid-2010s. After retail trading and savings stopped, Magnr later presented itself as a venture capital firm rather than a consumer trading venue.
-==Saving==
+== History ==
-===How it works===
+Btc.sx launched as a bitcoin-only margin trading venue. Contemporary coverage described it among early platforms that avoided fiat settlement on the trading side.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet: Bitcoin-only margin trading platform (2013)]</ref> After the Mt. Gox collapse, Btc.sx reported routing orders to partner exchanges. Seed funding included a SeedCoin round reported in 2014.
-The Bitcoin deposited at Magnr is used to fund leveraged trades at Magnr Trading. The traders pay an interest rate to execute leveraged trades, which is then passed back to Magnr savers.
+Under the Magnr name the company marketed Magnr Trading (prepaid collateral, leverage options) and Magnr Savings (interest funded by leveraged-trading demand). A 2015 launch notice described blockchain-based bitcoin savings accounts.<ref>[http://www.prnewswire.com/news-releases/magnr-launches-worlds-first-blockchain-based-bitcoin-savings-accounts---latest-btcsx-product-300100853.html PR Newswire: Magnr savings launch (2015)]</ref>
-After a fixed introductory rate, a variable interest rate will be used. This rate will vary according to trading activity on Magnr Trading.
+In mid-January 2018 Magnr notified users that Magnr Trading and Magnr Savings would be discontinued. A company support reply later stated the services had stopped on 19 January 2018 and that withdrawal requests were being processed.<ref>[https://uk.trustpilot.com/review/magnr.com Magnr Trustpilot company reply citing 19 Jan 2018 cutoff]</ref>
-===Rates and Information===
+Years later, company communications described Magnr as focused on venture backing of digital-asset projects rather than operating the former retail trading and savings products.
-==Trading==
+== External links ==
-===Buying and selling===
+* [https://magnr.com/ Magnr website]
-Users of Magnr Trading can open long and short positions using the proprietary trading platform. A corresponding buy and sell order is then placed out to market at a matching exchange with or without leverage. All positions opened will have a corresponding position placed out to market meaning that any profits gained or losses generated from market movements will be passed on directly to the client.
+== References ==
 <references />
 [[Category:Trading]]

NotATether: Magnr — trading/savings discontinued ambox + past-tense lead

2026-09-09T09:41:10Z

Magnr — trading/savings discontinued ambox + past-tense lead

← Older revision		Revision as of 09:41, 9 September 2026
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			{{ambox\|type=caution\|text='''Trading and savings discontinued.''' Magnr ended Magnr Trading and Magnr Savings in January 2018. The company later described a shift to venture capital activity.}}
	{{Infobox company		{{Infobox company
	\| image = [[File:Magnr_Company_Logo_2015.png\|220px~~\|link=https://magnr.com~~]]		\| image = [[File:Magnr_Company_Logo_2015.png\|220px]]
	~~\| type = [[Private company\|Private]]~~		\| name = Magnr
	\| name = Magnr		\| trading_name = Magnr
	\| trading_name = Magnr		\| industry = Trading / savings (historical)
	\| industry=~~[[Trade \|~~ Trading~~]], Savings, Investments, Financial Services~~		\| foundation = 2013–2015 (as Btc.sx / Magnr)
	\| ~~location~~ = ~~[[London]]~~		\| defunct = January 2018 (trading and savings)
	\| ~~foundation~~ = January~~, 2014~~		\| headquarters = London
	\| ~~key_people~~ = ~~Joseph Lee, James Turner, Colin Kwan, Sergio Rodriguez, Kwok Man~~		\| website = https://magnr.com
	~~\| area_served = Worldwide~~
	~~\| pairs= USD/BTC~~
	\| website=https://magnr.com
	}}		}}

	'''Magnr''' was a ~~multinational~~ company that ~~engages in [[bitcoin]] trading, savings and investment for digital currencies. The company operates across two verticals offering a [[bitcoin]]~~ leveraged trading ~~platform for retail traders~~ and ~~a bitcoin~~ interest bearing ~~savings account.<ref>{{cite news\|last=Blatchford \|first=Josh \|url=http://www.prnewswire.com/news-releases/magnr-launches-worlds-first-blockchain-based-~~bitcoin-savings~~-accounts---latest-btcsx-~~product~~-300100853~~.html \|title= Magnr Launches World's First Blockchain Based Bitcoin Savings Accounts \|work=PR Newswire \|date=2015-06-17}}</ref> It was founded in 2015 and is headquartered in London's Silicon Roundabout, the origin of its trading platform ~~dates back to 2013 when the company operated~~ as [[Btc.sx]]. At the ~~time ZDNet reported Btc~~.sx to be one of the first bitcoin companies that voided the necessity of all other currencies other than Bitcoin.<ref>{{cite news\|last=Lee \|first=Michael \|url=http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ \|title=Startup opens Bitcoin-only margin trading ~~platform \|work=ZDNet \|date=2013-08-22}}</ref> The company was launched from Old Street, [[London]]~~ and ~~is run by CEO Colin Kwan a former Deutsche Bank VP. The founding team includes veterans with experience from Barclays, eBay and Jaguar Land Rover they are Joseph Lee, James Turner~~, ~~Sergio Rodriguez and Kwok Man.<ref>{{cite web \| title=Meet the founding team behind~~ Magnr ~~\| publisher=Magnr \| url=https://magnr~~.~~com/meet-the-team \| accessdate=2015-12-18 }}</ref>~~		'''Magnr''' was a London-based bitcoin company that offered leveraged trading and an interest-bearing bitcoin savings product. The trading platform originated as '''Btc.sx''' around 2013. The Magnr brand and savings product were promoted in the mid-2010s. After retail trading and savings stopped, Magnr later presented itself as a venture capital firm rather than a consumer trading venue.

	==Saving==		==Saving==

Furunodo: Category:Inactive

2020-06-04T21:35:03Z

Category:Inactive

← Older revision		Revision as of 21:35, 4 June 2020
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	}}		}}

	'''Magnr''' is a multinational company that engages in [[bitcoin]] trading, savings and investment for digital currencies. The company operates across two verticals offering a [[bitcoin]] leveraged trading platform for retail traders and a bitcoin interest bearing savings account.<ref>{{cite news\|last=Blatchford \|first=Josh \|url=http://www.prnewswire.com/news-releases/magnr-launches-worlds-first-blockchain-based-bitcoin-savings-accounts---latest-btcsx-product-300100853.html \|title= Magnr Launches World's First Blockchain Based Bitcoin Savings Accounts \|work=PR Newswire \|date=2015-06-17}}</ref> It was founded in 2015 and is headquartered in London's Silicon Roundabout, the origin of its trading platform dates back to 2013 when the company operated as [[Btc.sx]]. At the time ZDNet reported Btc.sx to be one of the first bitcoin companies that voided the necessity of all other currencies other than Bitcoin.<ref>{{cite news\|last=Lee \|first=Michael \|url=http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ \|title=Startup opens Bitcoin-only margin trading platform \|work=ZDNet \|date=2013-08-22}}</ref> The company was launched from Old Street, [[London]] and is run by CEO Colin Kwan a former Deutsche Bank VP. The founding team includes veterans with experience from Barclays, eBay and Jaguar Land Rover they are Joseph Lee, James Turner, Sergio Rodriguez and Kwok Man.<ref>{{cite web \| title=Meet the founding team behind Magnr \| publisher=Magnr \| url=https://magnr.com/meet-the-team \| accessdate=2015-12-18 }}</ref>		'''Magnr''' was a multinational company that engages in [[bitcoin]] trading, savings and investment for digital currencies. The company operates across two verticals offering a [[bitcoin]] leveraged trading platform for retail traders and a bitcoin interest bearing savings account.<ref>{{cite news\|last=Blatchford \|first=Josh \|url=http://www.prnewswire.com/news-releases/magnr-launches-worlds-first-blockchain-based-bitcoin-savings-accounts---latest-btcsx-product-300100853.html \|title= Magnr Launches World's First Blockchain Based Bitcoin Savings Accounts \|work=PR Newswire \|date=2015-06-17}}</ref> It was founded in 2015 and is headquartered in London's Silicon Roundabout, the origin of its trading platform dates back to 2013 when the company operated as [[Btc.sx]]. At the time ZDNet reported Btc.sx to be one of the first bitcoin companies that voided the necessity of all other currencies other than Bitcoin.<ref>{{cite news\|last=Lee \|first=Michael \|url=http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ \|title=Startup opens Bitcoin-only margin trading platform \|work=ZDNet \|date=2013-08-22}}</ref> The company was launched from Old Street, [[London]] and is run by CEO Colin Kwan a former Deutsche Bank VP. The founding team includes veterans with experience from Barclays, eBay and Jaguar Land Rover they are Joseph Lee, James Turner, Sergio Rodriguez and Kwok Man.<ref>{{cite web \| title=Meet the founding team behind Magnr \| publisher=Magnr \| url=https://magnr.com/meet-the-team \| accessdate=2015-12-18 }}</ref>

	==Saving==		==Saving==
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	[[Category:Trading]]		[[Category:Trading]]
			[[Category:Inactive]]

Seal: Added the company logo

2015-12-22T10:58:54Z

Added the company logo

← Older revision		Revision as of 10:58, 22 December 2015
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	{{Infobox company		{{Infobox company
			\| image = [[File:Magnr_Company_Logo_2015.png\|220px\|link=https://magnr.com]]
	\| type = [[Private company\|Private]]		\| type = [[Private company\|Private]]
	\| name = Magnr		\| name = Magnr
	\| trading_name = Magnr		\| trading_name = Magnr
	\| industry=[[Trade \| FX Trading]], Savings, Investments, Financial Services		\| industry=[[Trade \| Trading]], Savings, Investments, Financial Services
	\| location = [[London]]		\| location = [[London]]
	\| foundation = January, 2014		\| foundation = January, 2014

Seal: Added the Magnr page

2015-12-22T10:55:07Z

Added the Magnr page

New page

{{Infobox company
| type = [[Private company|Private]]
| name = Magnr
| trading_name = Magnr
| industry=[[Trade | FX Trading]], Savings, Investments, Financial Services
| location = [[London]]
| foundation = January, 2014
| key_people = Joseph Lee, James Turner, Colin Kwan, Sergio Rodriguez, Kwok Man
| area_served = Worldwide
| pairs= USD/BTC
| website=https://magnr.com
}}

'''Magnr''' is a multinational company that engages in [[bitcoin]] trading, savings and investment for digital currencies. The company operates across two verticals offering a [[bitcoin]] leveraged trading platform for retail traders and a bitcoin interest bearing savings account.<ref>{{cite news|last=Blatchford |first=Josh |url=http://www.prnewswire.com/news-releases/magnr-launches-worlds-first-blockchain-based-bitcoin-savings-accounts---latest-btcsx-product-300100853.html |title= Magnr Launches World's First Blockchain Based Bitcoin Savings Accounts |work=PR Newswire |date=2015-06-17}}</ref> It was founded in 2015 and is headquartered in London's Silicon Roundabout, the origin of its trading platform dates back to 2013 when the company operated as [[Btc.sx]]. At the time ZDNet reported Btc.sx to be one of the first bitcoin companies that voided the necessity of all other currencies other than Bitcoin.<ref>{{cite news|last=Lee |first=Michael |url=http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ |title=Startup opens Bitcoin-only margin trading platform |work=ZDNet |date=2013-08-22}}</ref> The company was launched from Old Street, [[London]] and is run by CEO Colin Kwan a former Deutsche Bank VP. The founding team includes veterans with experience from Barclays, eBay and Jaguar Land Rover they are Joseph Lee, James Turner, Sergio Rodriguez and Kwok Man.<ref>{{cite web | title=Meet the founding team behind Magnr | publisher=Magnr | url=https://magnr.com/meet-the-team | accessdate=2015-12-18 }}</ref>

==Saving==
===How it works===

The Bitcoin deposited at Magnr is used to fund leveraged trades at Magnr Trading. The traders pay an interest rate to execute leveraged trades, which is then passed back to Magnr savers.

After a fixed introductory rate, a variable interest rate will be used. This rate will vary according to trading activity on Magnr Trading.

===Rates and Information===
* The current introductory Interest Rate is a fixed rate of 2.18% annual equivalent with interest payments made at the end of every month 
* After the introductory period, interest will be earned on a variable rate 
* Interest accrued compounds on a monthly basis 
* The maximum amount you can earn interest on is 100 bitcoins 
* You can deposit more than 100 bitcoins for safe storage, however interest will only be paid on 100 bitcoins 
* Withdrawals can be made at anytime, interest is earned on the balance held on your account

==Trading==
===Buying and selling===

Users of Magnr Trading can open long and short positions using the proprietary trading platform. A corresponding buy and sell order is then placed out to market at a matching exchange with or without leverage. All positions opened will have a corresponding position placed out to market meaning that any profits gained or losses generated from market movements will be passed on directly to the client.

===Position Deposits===

Trading at Magnr is done on a pre-paid basis. In order to open a position, a deposit is taken which acts as collateral. This collateral will act as an equivalent of a margin call. This is the price at which a position will be automatically liquidated if losses accrue to the deposited amount. The margin call is shown as a stop price when the position is opened. A larger deposit will enable a bigger stop distance to be chosen. This can result in larger losses if the price moves against the desired direction.

===Features===
Leverage - 10:1, 5:1, 2:1 
Volatility Multiplier - 10% ~ 20% 
Execution Type - at best execution 
Minimum Trade Size - $5 equates to ~$50 Trade at 10:1 
Maximum Trade Size - $1000 equates to ~$10,000 Trade at 10:1<ref>[https://support.magnr.com/hc/en-gb/categories/200125922-TRADING-FEES Magnr - Trading Fee Schedule]</ref>

==Fees==

===Transaction Fees===

====BTC====

Deposit - zero fees (minimum of 0.001 Btc) 
Withdrawal - zero fees (minimum of 0.001 Btc)

Funds are deposited once 3 [[confirmation|confirmations]] are recieved, this is a process that typically takes 30 minutes.

====USD====

Magnr does not accept fiat. All positions deposits are in Bitcoin.

===Trade Fees===

Open and Close - 0.5% 
Gap Losses - zero

==Risk Matrix==

As well as magnifying trading gains, losses can similarly be multiplied. For beginners, it is widely reccomended that trading with a smaller amount of leverage will result in a lower risk whilst learning about the platform while trading. Despite its higher minimum deposit, potential losses will be minimised due to the unlikely nature that a stop limit will be reached.<ref>[https://support.btc.sx/hc/en-gb/articles/201070362-What-is-Leveraged-Trading- Btc.sx - What is Leveraged Trading?]</ref>

{| class="wikitable"
|-
! Leverage || Stop Distance || Risk || Return (Profit or Loss) || Minimum Deposit
|-
| 10:1 || Small || High || High || $5
|-
| 5:1 || Medium || Medium || Medium || $10
|-
| 2:1 || Large || Low || Low || $20
|}

==Reception==

Following the [[Mt. Gox]] collapse, Btc.sx announced a new exchange partnerships with [[Bitstamp]], [[itBit]] and [[BitFinex]] now placing its orders out to market. The trading platform announced in March 2014 the brokerage of over $40m in brokered transactions.<ref>[http://www.coindesk.com/btc-sx-resumes-trading-mt-gox-induced-freeze/ CoinDesk - Bitcoin Derivatives Platform BTC.SX Resumes Trading After Mt Gox-Induced Freeze]</ref>

==Capital investments==

In April 2014, Btc.sx recieved 500 bitcoins from the seed accelerator, [[SeedCoin]] in its first fund raising round.<ref>[http://www.coindesk.com/seedcoin-gives-btc-sx-500-bitcoins-funding/ CoinDesk - Trading Site BTC.SX Receives 500 Bitcoins in Seedcoin Funding Round]</ref> The company has recieved a total of US$0.45 million investment as a result of initial capital injections and its equity fundraising activities.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet - Startup opens Bitcoin-only margin trading platform]</ref>

==External links==
*[https://magnr.com Official Website: Magnr - Bitcoin Trading, Savings and Investments]

==References==
<references />

[[Category:Trading]]