DislikedNope, all is well. Your account might have an issue, you should contact support and have them look.Ignored
Support has been contacted and I will update w/ the timeliness of the response and corrective actions.
BroncoCap
Introduction and trading basics 27 replies
Introduction to Level 2 4 replies
VTTrader: How to Write Your Own VT Indicator Introduction. 0 replies
Interest Rates: An Introduction 0 replies
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DislikedNope, all is well. Your account might have an issue, you should contact support and have them look.Ignored
DislikedHappened to me today, see following screenshots:
Support has been contacted and I will update w/ the timeliness of the response and corrective actions.
BroncoCapIgnored
DislikedJesus f**king Christ do not trade on MBT during news. Execution was 20 pips away from where the market was actually. Expensive lesson learnt today.Ignored
DislikedCompare the spreads for MBT Free EXN and PFL. The bloody Free EXN has better spreads and no commissions. Anybody who says PFL does not have liquidity problems is delusional.Ignored
DislikedOnce again this morning, the same issue : here is a snapshot of an order.
As you can see, the order is entered and accepted by the server at 03:20:59 and executed at 03:21:25, so it was not a marketable order, as it appeared on the market during 26 seconds before its execution. But a 0.04 commission fee applied instead of a 0.03 payment.
AttachmentIgnored
DislikedHonestly I completely have no idea why Free EXN plan has lower spread than PFL plan. It just not making any sense at all.Ignored
DislikedHonestly I completely have no idea why Free EXN plan has lower spread than PFL plan. It just not making any sense at all.Ignored
DislikedJustin said it was because they selected a few LP's to feed liquidity into the Free EXN thereby making them 'try a little harder' to get fills equaling tighter spreads. IMHO, they screwed the pooch on this. They have alienated all their old customers used to Desktop+Commish, then woo'd them PFL, only to see liquidity dry up (maybe market related as Justin has rebuffed all my theories) when Free EXN was introduced. Sometimes the saying proves correct:
"IF IT AIN'T BROKE, DON'T FIX IT"
BroncoCapIgnored
DislikedTradeOffice,
I had some problem yesterday and AGAIN, same problem today. For my daily PnL reporting, I am assuming they fix this issue, but it is especially annoying. Yesterday was 4 incorrect rebates, today is 6. Utterly sucks having to run daily reports and not have the correct values. No resolution on yesterdays call to support, chat w/ support, AND trouble ticket. A bit too slow for my liking...
BroncoCapIgnored
Dislikedselected a few LP's to feed liquidity into the Free EXN thereby making them 'try a little harder' to get fills equaling tighter spreads??? This does not sound logic to me because if it is true, why not apply the same trick into PFL plan too?Ignored
QuoteDislikedYou have Plan A with 20 entities feeding their quotes into it. We only route your order to the bank with the best bid/ask at the time. That means that only when one of those entities is the best bid or ask do they get order flow from us, and of course, prices update in the milliseconds. Obviously, the more competitive any one of those entities is in trying to keep their best bid and/or ask near the market, the more of our customer orders they will have routed to them, but let’s face it. If you have 20 competing, they are only each going to get so...
DislikedQuant,
I too disagree w/ the premise, but here is Justin's response from a post a while back
This is the entire post if you are interested. http://www.forexfactory.com/showthre...69#post5431469
I too think that they are splitting up their base far too much. Better to have just taken the chosen LP's into both systems...or reward the better ones for running tighter spreads much like PFL's. Admittedly, I've only been doing this for 6 months, but the changes at MBT over the 6 months have all been in the wrong direction,...Ignored
DislikedI, too, have now had an undeniable incorrect commission charge.
My limit order was during a somewhat fast market (not during news release, about 10 min after)
....but it did rest in the order book for 9 secs and was almost 4 pips away from displayed current market.
I have traded in/out in seconds many times (+100) over the past months.
The only explanation, if MBT concludes they can find nothing wrong, is that
our quotes are somewhat "behind" on NavPro today (and potentially yesterday).
I don't care about any specific corrections for...Ignored
DislikedThanks for the link. I didnt aware of the Justin's reply on the spread issue.
Now my question is if FREE EXN model has less banks therefore better spread, why not just reduce the number of banks in PFL for a better competition?Ignored
DislikedQuant,
I too disagree w/ the premise, but here is Justin's response from a post a while back
This is the entire post if you are interested. http://www.forexfactory.com/showthre...69#post5431469Ignored
DislikedIntu,
I've had resting orders for over 10min that show wrong commissions, it's a bug in their system. I originally thought it was for limits filled w/ positive slippage, but found wrong commissions for limits filled at the entered price, so who knows. I am updating support daily w/ order IDs for all erroneous commissions. Luckily, I screen record my entire session so I have ~undeniable proof of order placement and market at that time--not that they could not somehow dismiss it...
Net-net, their system is currently malfunctioning, and I hope resolution...Ignored
DislikedBecause the free exn has better liquidity. More liquidity = better spread. Not only does the free exn have better spreads it has better spread even though MBT is adding in their markup. Can you imagine what the difference in the spread between free exn & pfl actually would be if you remove their markup?
Justin can BS here all he wants but we use PFL every day and we can see how bad it has become since their awesome idea to split the customer base.Ignored
DislikedQuant,
I too disagree w/ the premise, but here is Justin's response from a post a while back
This is the entire post if you are interested. http://www.forexfactory.com/showthre...69#post5431469
I too think that they are splitting up their base far too much. Better to have just taken the chosen LP's into both systems...or reward the better ones for running tighter spreads much like PFL's. Admittedly, I've only been doing this for 6 months, but the changes at MBT over the 6 months have all been in the wrong direction,...Ignored