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-   -   MB Trading Futures - Introduction (https://www.forexfactory.com/showthread.php?t=10002)

jleblang Nov 8, 2006 3:46pm | Post# 1

MB Trading Futures - Introduction
 
Hello Everyone,

This is Justin LeBlang from EFX Group (MB Trading). As many of you might have noticed we have recently become a preferred broker with Forex Factory.

I am not here to promote EFX Group (MB Trading), but rather invite anyone who has questions to ask them. We look forward to hearing from you soon.

Sincerely,

merlin Nov 8, 2006 3:57pm | Post# 2

welcome justin!! we are glad to have you as a sponsor this is great that you are here to answer questions!

im going to move this to the brokerforum (eventually), i think that is the best place for it. we havent had any sponsors actually come here to talk to their "people" so we dont have a standard for this

glad to have you on board and i hope to see you around the forum!

ProdiG Nov 8, 2006 4:00pm | Post# 3

can you answer the following questions:
1. Whats the margin?
2. I see comission is $5 per 100,000. does that mean base currency or $100,000 such as MB Trading?
3. In case my internet fails is there a broker desk i can call to close trades?
4. Do you have a fidelity bond?

Thanks

jleblang Nov 8, 2006 4:16pm | Post# 4

can you answer the following questions:
1. Whats the margin?
2. I see comission is $5 per 100,000. does that mean base currency or $100,000 such as MB Trading?
3. In case my internet fails is there a broker desk i can call to close trades?
4. Do you have a fidelity bond?

Thanks
Hi ProdiG ~

1. Our margin policy is 100:1 with a minimum deposit of $400.

2. EFX Group charges a commission of $5.00 per 100,000 currency traded for all USD based pairs. If your trading non USD based pairs the commissions will vary a bit.

If you are trading mini's it would be $0.50 per 10,000 currency traded for all USD based pairs, if your trading non USD based pairs the commission will vary.

Example:

100,000 USD/JPY - $5.00 commission
10,000 USD/JPY - $0.50 commission

100,000 EUR/USD - $5.00 * 1.2810 (rate) = $6.40
10,000 EUR/USD - $0.50 * 1.2810 (rate) = $0.64

100,000 AUD/USD - $5.00 * .7740 (rate) = $3.87
10,000 AUD/USD - $0.50 * .7740 (rate) = $0.39

3. Yes. We have a 24 hour trade desk that will place trades on your behalf if your internet fails; you’re away from your computer or any other reasons.

4. Yes, we do offer a Fidelity 14 Bond. If you'll follow the link at the end of this statement you'll see all answers to "safety of funds". http://efxgroup.com/deposits.html<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>


<o></o>

I hope the above answers help; if you need anything else please do not hesitate to ask. <o></o>

<o></o>

Sincerely, <o></o>

baddison Nov 8, 2006 4:31pm | Post# 5

{not sure if this is going to go through or be allowed...}

Hello Everyone,

This is Justin LeBlang from EFX Group. As many of you might have noticed we have recently become a preferred broker with Forex Factory.

I am not here to promote EFX Group, but rather invite anyone who has questions to ask them. We look forward to hearing from you soon.

Sincerely,
Hey, Justin. Great to see you here!!

Bernadette

smjones Nov 8, 2006 4:34pm | Post# 6

How about order types. Do you offer OCO and if done type orders?

Also, do you allow buy and a sell on the same currency, or does one order close the other?

Thanks


{not sure if this is going to go through or be allowed...}

Hello Everyone,

This is Justin LeBlang from EFX Group. As many of you might have noticed we have recently become a preferred broker with Forex Factory.

I am not here to promote EFX Group, but rather invite anyone who has questions to ask them. We look forward to hearing from you soon.

Sincerely,

jleblang Nov 8, 2006 4:36pm | Post# 7

Hey, Justin. Great to see you here!!

Bernadette
Hi Bernadette.....haven't heard from you in a long time. I hope you are doing well!

baddison Nov 8, 2006 4:37pm | Post# 8

Where can I find out more about any "advanced order types" that your platform accepts? More specifically, I am wondering if you accept SCO (stop on close only) orders. Too many times during the formation of a candlestick, the fluctuaton will cause the market to bounce down/up taking out stops, only to go in the correct intended direction after all. With SCO orders, you will only get stopped out if the candle actually CLOSES at or beyond your stop, but not during the fluctuations of the day.

Is this possible with your platform??

Bernadette

jleblang Nov 8, 2006 4:41pm | Post# 9

How about order types. Do you offer OCO and if done type orders?

Also, do you allow buy and a sell on the same currency, or does one order close the other?

Thanks
Hi Smjones ~

We do have "OCO" orders, but on our platform we call it "TTO". TTO stands for Threshold Trigger Order. The trader will specify two prices, an upper and lower price trigger. Once the market trades at either price, a market order is sent to the marketplace. This order type was designed to help limit potential losses and lock-in potential profits.

More information on our order types can be found here. http://efxgroup.com/efxgrouporderentry.pdf

We do not allow hedging in the same account. As a solution though, many of our clients choose to open and fund two accounts. We then link the accounts together so that they only have to log in one time to trade both accounts.

Hope this helps.

Sincerely,

smjones Nov 8, 2006 4:43pm | Post# 10

thanks for the info

4rex Nov 8, 2006 4:45pm | Post# 11

EFX Group/MBTrading
 
Hello Justin,

1. Can you point out any difference between your outfit and MB that would convince me to switch my live account from MB to EFX? I am presently using MB's demo but have an approved live account that I have yet to fund.

2. What are your plans to include charts with your platform?

3. If I place an market or limit order and I want to place a stop loss and also a 50% take profit order of my original entry, what would be the best way to do it without having to take three steps to do it. I don't believe I can do it with TTO because it doesn't allow partial profit taking.

Thank you for your interest in helping our members

jleblang Nov 8, 2006 4:47pm | Post# 12

Where can I find out more about any "advanced order types" that your platform accepts? More specifically, I am wondering if you accept SCO (stop on close only) orders. Too many times during the formation of a candlestick, the fluctuaton will cause the market to bounce down/up taking out stops, only to go in the correct intended direction after all. With SCO orders, you will only get stopped out if the candle actually CLOSES at or beyond your stop, but not during the fluctuations of the day.

Is this possible with your platform??

Bernadette
Have you viewed this section of our website yet? I feel this will help you.

http://efxgroup.com/efxgrouporderentry.pdf

Also I am hosting two webinars, one tonight which will be covering our platform basics. Then Thursday night Nov 9th, which will cover more of the advanced orders and Level ll trading on our ECN.

For more info on the webinars please visit the "Events" section on our website.

Hope to see you there.

AlexFX Nov 8, 2006 4:47pm | Post# 13

Hey there,
 
1. Are you able to place trailing stops?

1. are you able to specify multiple limits on one order? ie. Say you place a Buy order for 10 lots and you want to scale out of the order at increments of 10 pips as the order matures.

All the best.

Alex

bAASHARM Nov 8, 2006 4:48pm | Post# 14

Does EFX allow fractional lots, e.g. would it be possible to open 1.43 mini lots?
Does your platform allow autotrading functionality and/or allow to code trading scripts?
What are the swap rates and are they paid/charged on forward base?

jleblang Nov 8, 2006 4:55pm | Post# 15

Hello Justin,

1. Can you point out any difference between your outfit and MB that would convince me to switch my live account from MB to EFX? I am presently using MB's demo but have an approved live account that I have yet to fund.

2. What are your plans to include charts with your platform?

3. If I place an market or limit order and I want to place a stop loss and also a 50% take profit order of my original entry, what would be the best way to do it without having to take three steps to do it. I don't believe I can do it with TTO because it doesn't allow partial profit taking.

Thank you for your interest in helping our members
Hi 4rex ~

1. EFX is the arm of MB that specializes in Forex. MB Trading offers all asset classes (stocks, options, futures, Forex) and thus offers software solutions that suit traders for all markets. Many of the owners of MB also own EFX, but EFX is set up to train people that are largely Forex-only traders.

• MB and EFX both use the same execution technology and pricing.

• Both have the same Help Desk for off-hours support.

• Both EFX and MB have the Navigator software as a front-end option.

• Only EFX has the Forex Pro software as a front-end option.

• EFX’s daytime help desk and on-line tutorials are designed to help you learn how to use our platforms. We’ll spend as much time as possible walking you through how to trade on the system.

• Any upgrades to the overall execution platform that MB implements will also apply to EFX.

• EFX may add software upgrades, new front-end, or even advanced Forex-only order routing via our front ends that MB may never offer.

That’s pretty much the way to look at it.

2. We do plan to release a free and very sophisticated charting package, possibly even by the end of the year, but most likely sometime into early 2007. We also have been in talks with www.fxtrek.com and should have something done soon.

3. This can still be accomplished with a TTO, but you would need to add the TTO after the order has already filled. For more on how to do this, I suggest visiting our website and going to the 'Events' section to view archived training sessions or signing up for an upcoming webinar.

Thank you,

jleblang Nov 8, 2006 4:57pm | Post# 16

1. Are you able to place trailing stops?

1. are you able to specify multiple limits on one order? ie. Say you place a Buy order for 10 lots and you want to scale out of the order at increments of 10 pips as the order matures.

All the best.

Alex
Hi AlexFX ~

1. We do offer true pip for pip trailing stops which can be as tight as one pip.

2. Yes, absolutely.

Sincerely,

jleblang Nov 8, 2006 5:00pm | Post# 17

Does EFX allow fractional lots, e.g. would it be possible to open 1.43 mini lots?
Does your platform allow autotrading functionality and/or allow to code trading scripts?
What are the swap rates and are they paid/charged on forward base?
Hi bAASHARM ~

Yes, EFX does offer fractional lots. You may also place lots lower than 1 mini. For example .5 would equal 1/2 a mini lot or 5000 in currency units.

We pay and charge interest depending on what side of the trade you are on and which currency pair. For more information please visit http://efxgroup.com/rollover-premium-rates.html.

Thank you,

stricko108 Nov 8, 2006 5:24pm | Post# 18

hi there,

Is there 0 spread, only the approx $5 commision for each 100k lot,

or is it the approx $5 commision plus a spread?

Thanks.

jleblang Nov 8, 2006 6:07pm | Post# 19

hi there,

Is there 0 spread, only the approx $5 commision for each 100k lot,

or is it the approx $5 commision plus a spread?

Thanks.
Hello stricko108 ~

There is a spread as well as the approx $5.00 commission for each 100k lot. The spreads are variable though, and at times can be as low as 1/10th of pip or what we call "choice" when there is actually no spread.

This can only happen with an STP ECN broker. (For definition of STP and ECN please see http://efxgroup.com/about-STP-ECN-definitions.html)

Here is how it works quoted right from the preferred brokers section on Forex Factory.

"EFX offers direct access STP and ECN trading. Our powerful execution system incorporates multiple bank feeds that display liquidity directly on the system. STP (Straight Through Processing) technology allows our customers to place orders that match off electronically with these banks at increments as low as 1/10th of a pip, without interacting with a “middle man” whose job is to try to make money trading between customers. In addition, our ECN technology allows clients the ability to cross orders anonymously. Customer orders will execute against one another, eliminating the need to only fill orders against bank quotes. The technology facilitates “best execution” for investors/traders and generates price competition.”

Thank you,

nd1377 Nov 8, 2006 6:09pm | Post# 20

Hello,
Thank you for answering my questions. I have looked at your company and MB Trading and I am becoming more interested in both of your companies, but haven't made up my mind on who to go with.

I need to know more about the charting package that you will offer.

1. Will it be anything like Metatrader?

2. Will it allow multiple time frames open at once?

3. Will it come with a language to program my own experts?

4. Do you have any screenshots of it?

5. With regards to FX Trek, will you offer it for free?

Thank you very much. I appreciate it.

jleblang Nov 8, 2006 7:43pm | Post# 21

Hello,
Thank you for answering my questions. I have looked at your company and MB Trading and I am becoming more interested in both of your companies, but haven't made up my mind on who to go with.

I need to know more about the charting package that you will offer.

1. Will it be anything like Metatrader?

2. Will it allow multiple time frames open at once?

3. Will it come with a language to program my own experts?

4. Do you have any screenshots of it?

5. With regards to FX Trek, will you offer it for free?

Thank you very much. I appreciate it.
Hi nd1377 ~

I do not have details I am able to share about the new charting platform at this time. It will be very sophisticated though and act as a solution for those who like trading on the MT4 platforms. I am unable to offer screen shots or specs, but as I learn more so will everyone else.

For more about FXTrek please contact us for special rate info.

Thank you.

stricko108 Nov 8, 2006 8:35pm | Post# 22

Thanks for those answers, what is the max it goes during a wild NFP day, or is there no max, just whatever the banks are quoting you.

Thanks


Hello stricko108 ~

There is a spread as well as the approx $5.00 commission for each 100k lot. The spreads are variable though, and at times can be as low as 1/10th of pip or what we call "choice" when there is actually no spread.

This can only happen with an STP ECN broker. (For definition of STP and ECN please see http://efxgroup.com/about-STP-ECN-definitions.html)

Here is how it works quoted right from the preferred brokers section on Forex Factory.

"EFX offers direct access STP and ECN trading. Our powerful execution system incorporates multiple bank feeds that display liquidity directly on the system. STP (Straight Through Processing) technology allows our customers to place orders that match off electronically with these banks at increments as low as 1/10th of a pip, without interacting with a “middle man” whose job is to try to make money trading between customers. In addition, our ECN technology allows clients the ability to cross orders anonymously. Customer orders will execute against one another, eliminating the need to only fill orders against bank quotes. The technology facilitates “best execution” for investors/traders and generates price competition.”

Thank you,

smjones Nov 8, 2006 9:53pm | Post# 23

I moved this thread to the broker forum.

Mr Trend Nov 8, 2006 10:25pm | Post# 24

Justin,

When are you guys going to start offering deposit/withdrawal via Paypal? Or is that even a consideration?

4rex Nov 9, 2006 6:23am | Post# 25

Hello Justin,

I am in approval process for a live account with EFX and looking forward to trading live in the near future. In the meantime I have downloaded your demo FXPRO and plan to use it instead of my MBTrading demo. One observation on the help doc for FXPro... actually two.

1. It should be right click/preference instead of right click/properties forex order entry area. This can be confusing to new users.

2. The bottom of my FXPro seems to be cut off at the bottom. Is this my computer or a bug? How can I fix this?

PS. I changed my screen resolution from 800x600 to 1024x768 that didn't help

Thank you for all of your help

zmanc Nov 9, 2006 8:11am | Post# 26

Justin,

When are you guys going to start offering deposit/withdrawal via Paypal?...
Yes. Waiting for this as well.

Sma Nov 9, 2006 10:32am | Post# 27

Hi Justin,

What kind of spreads do you typically have during news releases?

Sma

jleblang Nov 9, 2006 11:02am | Post# 28

Justin,

When are you guys going to start offering deposit/withdrawal via Paypal? Or is that even a consideration?
Hello Mr Trend ~

At this time I do not think there are plans to start offering deposits / withdrawals via paypal. I will send an email though to our development department and find out for sure for you.

Regards,

jleblang Nov 9, 2006 11:09am | Post# 29

Hi Justin,

What kind of spreads do you typically have during news releases?

Sma
Hello Sma ~ <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

I feel very confident in saying that during news times our spreads "typically" remain very tight. <o></o>

Please remember that we provide our clients with Access to the Worlds Largest Banks. It isn’t enough to be an STP (Straight Through Processing) platform. The ability of our clients to get executed depends on the amount of liquidity in our system. Unlike other STP platforms that provide one or two bank feeds to their customers, EFX utilizes tight liquidity spreads from over a dozen of the largest banks in the world. <o></o>

What does this mean for you? More size available at any price. Tighter quotes. Minimal impact if one bank’s feed goes down. <o></o>

I would please advise any one interested in trading news visit our FAQ's for "What is your policy on news trading". <o></o>

http://efxgroup.com/faq.html#policy-on-news-trading<o></o>

<o></o>

Thank you,<o></o>

jleblang Nov 9, 2006 11:11am | Post# 30

Hello Justin,

I am in approval process for a live account with EFX and looking forward to trading live in the near future. In the meantime I have downloaded your demo FXPRO and plan to use it instead of my MBTrading demo. One observation on the help doc for FXPro... actually two.

1. It should be right click/preference instead of right click/properties forex order entry area. This can be confusing to new users.

2. The bottom of my FXPro seems to be cut off at the bottom. Is this my computer or a bug? How can I fix this?

PS. I changed my screen resolution from 800x600 to 1024x768 that didn't help

Thank you for all of your help
Hello 4rex ~

Could you please send me a screen shot of what is happening so I can be sure how to help you.

justin@efxgroup.com

Thank you very much.

ProdiG Nov 9, 2006 11:32am | Post# 31

By any chance do you have any deals with charting providers for discounted feed? or do you have a rebate program such as other brokers where u trade a certain amount a month and you get a certain amount credited to your account for the software? {name removed, Rule #2}

jleblang Nov 9, 2006 11:46am | Post# 32

By any chance do you have any deals with charting providers for discounted feed? or do you have a rebate program such as other brokers where u trade a certain amount a month and you get a certain amount credited to your account for the software?
Hello ProdiG ~

EFX offers the following;

1) eSignal special rate of $129.00 a month. Your 1st month free. If you trade $10,000,000 in volume a month EFX Group will rebate your trading account the $129.00. eSignal also shows our data feed through TDFX. (TDFX is the ECN MBTF/EFX Group utilizes for data and which is partially owned by our group)

2) Soon to offer www.fxtrek.com charting at a discounted rate. Special rebate programs will exist for fxtrek charts as well.

3) Soon to offer our own FREE sophisticated charting package; coming early 2007.

Regards,

Sma Nov 9, 2006 11:53am | Post# 33

Hello Sma ~ <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

I feel very confident in saying that during news times our spreads "typically" remain very tight. <o></o>

Please remember that we provide our clients with Access to the Worlds Largest Banks. It isn’t enough to be an STP (Straight Through Processing) platform. The ability of our clients to get executed depends on the amount of liquidity in our system. Unlike other STP platforms that provide one or two bank feeds to their customers, EFX utilizes tight liquidity spreads from over a dozen of the largest banks in the world. <o></o>

What does this mean for you? More size available at any price. Tighter quotes. Minimal impact if one bank’s feed goes down. <o></o>

I would please advise any one interested in trading news visit our FAQ's for "What is your policy on news trading". <o></o>

http://efxgroup.com/faq.html#policy-on-news-trading<o></o>

<o></o>

Thank you,<o></o>
Hi Justin,

Thanks for your prompt reply, when you say that "typically" your spreads remain tight, can you provide some data, as in on average how much can the spread become on a typical news release +10 +20 ? (no nfp stuff).

I like the fast that u offer stop/limit orders, is there an option to specify a max deviation? as in the stop/limit +5 for example?

Thanks,

Sma

jleblang Nov 9, 2006 12:08pm | Post# 34

Hi Justin,

Thanks for your prompt reply, when you say that "typically" your spreads remain tight, can you provide some data, as in on average how much can the spread become on a typical news release +10 +20 ? (no nfp stuff).

I like the fast that u offer stop/limit orders, is there an option to specify a max deviation? as in the stop/limit +5 for example?

Thanks,

Sma
Hi Sma ~ <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

I said "typically" because the spreads are completely out of our control. The banks decide how tight our spreads will be by deciding how much liquidity they will provide to us. Since we offer a network of the world’s largest banks liquidity, this is usually not a problem. The more liquidity the tighter the spreads. <o></o>

It is very rare if our quotes go wider than 3 pips during news announcements. To be on the safe side though, I always suggest using Stop Limit orders, which provide the trader with a range that they would like to get filled. Another option is Soft Limit order, which means placing a limit to buy a few pips higher then the market, or vice versa for a short position. <o></o>


Trade Smart -

ART_1_ Nov 9, 2006 12:41pm | Post# 35

hi Justin,

is the demo exactly how the live platform? i mean execution speed, etc... i think yes, but please correct if i am wrong. i really like the execution speed and the one click order.

please can you tell how to modify the stoploss?
thats the way how i did (but maybe there is a shorter way):

1. i have to delete my actuall TTO open order

2. click on the FX Board with the right mouse-> then templates->then TTO-> create a new TTO order.

is there a shorter way to do it?

and my last question, can we trade gold (spot) with EFX?

thank you


jleblang Nov 9, 2006 1:05pm | Post# 36

hi Justin,

is the demo exactly how the live platform? i mean execution speed, etc... i think yes, but please correct if i am wrong. i really like the execution speed and the one click order.

please can you tell how to modify the stoploss?
thats the way how i did (but maybe there is a shorter way):

1. i have to delete my actuall TTO open order

2. click on the FX Board with the right mouse-> then templates->then TTO-> create a new TTO order.

is there a shorter way to do it?

and my last question, can we trade gold (spot) with EFX?

thank you

Hello ART_1 ~ <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

While the bank quotes are identical on both the Demo and Live platforms, our ECN technology allows customers to place their own limits orders into the system and display them for other customers. Obviously, “demo” orders cannot interact with a live market, so the ECN trades from customer to customer work from demo clients to demo clients and from live clients to live clients, but demo orders do not display in the live market. Issues in our demo environment are not a reflection of our live platform.<o></o>

1) All TTO order must be cancelled and replaced. To simplify this I personally have a TTO screen up always on the bottom of my 'Positions Window'. To do this, please follow the next steps. <o></o>

a. In the position windows 'right click' in the blank area (typically this is black where no positions are showing). You'll see an option to "show order entry", left click here. <o></o>

b. Now an order entry screen should be showing similar to the one attached to the bottom of the FX Board. <o></o>

c. Right click now in the 'order entry' window attached to the bottom of the 'positions window' and select "Template". Choose TTO. <o></o>

d. Once you have completed this, go to file and save your layout. <o></o>

Now every time you have a TTO that needs replaced, it is very simple to replace it without having to switch your template back and forth. <o></o>

Eventually we hope to offer Gold Spot trading. <o></o>

If you have any other questions, please feel free to ask. Don't forget, you can call in anytime to ask questions as well. <o></o>

(877) 212-1112 for help. <o></o>

Sincerely, <o></o>

ART_1_ Nov 9, 2006 1:16pm | Post# 37

thanks for your reply. it really helped me!

thx

jleblang Nov 9, 2006 1:20pm | Post# 38

thanks for your reply. it really helped me!

thx
Great! I'm glad to hear that.

Stan Nov 9, 2006 8:27pm | Post# 39

To all,
I have not yet signed up with EFX group but I am in the process of filling out the application.
I have been demoing their platform, not quite as user friendly as some others, but with time, I am able to become much more proficient at it.
I believe it is worth the learning curve for the advantages the company has to offer.
Justin has PROMPTLY been answering my emails and they offer FXTreks
chart at a very terrific rate!
I have no connection with this company except to say, I have been looking and trying virtually every demo out there. (My wife calls me
Demo-Master)
I can't wait to begin with EFX Group.
Stan_
{not sure if this is going to go through or be allowed...}

Hello Everyone,

This is Justin LeBlang from EFX Group. As many of you might have noticed we have recently become a preferred broker with Forex Factory.

I am not here to promote EFX Group, but rather invite anyone who has questions to ask them. We look forward to hearing from you soon.

Sincerely,

prosperkay Nov 10, 2006 4:35am | Post# 40

Hello everybody
 
I want to know if anyone has ever tried EFX group.
Please share with us your experience, i will like to know more about them, but not from their sponsor, i prefer an fx trader : .
Thanks


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