Critical issues with Bitfinex trading engine

I will not be sugar coating any of this stuff and give it straight. There are critical flaws within the Bitfinex matching engine and account risk management. I will highlight the problems below. These are witnessed by me and a few others who traded during this crash.

  1. Under certain circumstances like the one we witnessed yesterday, Bitfinex account management allows you to buy or sell more BTC than your account can allow. IE: I've exceeded my max limit of 3.33:1 leverage and buy/sell way above what I am allowed to. I was able to lever up more than 6:1 at one point from clicking on the buy/sell multiple times.
  2. Your orderbook is responsive and I can see my limit orders, but I cannot see it in the active position/active orders section. I have to go to History -> Order history/trade history to see if my order executed and that has a delay too.
  3. You cannot force users not to click on sell when there is a panic. If you give users the option to click sell, but  have a critical flaw of allowing users to lever more than allowed, you are asking for problems. Instead of having 2 buttons, margin buy/margin sell, you need to have 4. Margin long, close long, margin short, close short. That way, repeated hammering of closing long or close short won't shove more orders on to the matching engine. Again, this is because of issue #2 that this is even a problem.

Fix it. Between all of these issues and fee hikes, I don't see any incentives to trade at your exchange with these problems not fixed. I can no longer recommend my bitfinex referrals that they should trade here.