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MB Trading Futures - Introduction

  • #4,981
  • Mar 5, 2010 3:45pm Mar 5, 2010 3:45pm
Quoting Trad3r
I quote you from another thread because you asked me who tell me that banks don't offer micro lots for trading in forex, I have received this e-mail from FXCM, you can speak with the FXCM representative of this forum about this:

Dear Client:...
Sounds like someone didn't have as deep a relationship with their banks as we do.
  • #4,982
  • Mar 6, 2010 3:12am Mar 6, 2010 3:12am
i have a question about mb

can you give me a definitive answer as to why a mt4 accounts are separate to a navigator accounts. being one broker and providing liquidity through a series of banks, is there a difference in the market you present to each. for instance does the mt4 crowd only go though a selected number of banks because other banks are not interested in mt4 type traders. i find it highly unusual that i had to open a separate account for mt4. i work for Thomson Reuters as a developer and i cannot get my head around the reason for this other than contractual agreements with liquidity providers. an architectural solution catering for mt4 users should simply me an additional entry point and orderaccount processing layer that should allow both navigator and mt4 accounts to coexist in one system. by dividing them at a level whereby you need a separate account is a sure sign of an underlying contractual agreement. if this is so, can you please disclose the nature of the difference. i personally would prefer parsing my orders into a larger pool of liquidity providers and move back to the navigator than have a smaller pool. moreover, banks that allow mt4 type orders must have reasons to do so because not many banks allow tiny orders into their system, it just isnt worth their time and capacity.
  • #4,983
  • Mar 6, 2010 7:21am Mar 6, 2010 7:21am
Anyone having problem with the Nav platform download? The new version I downloaded won't group the windows so it won't put the currency I select on the order board. And yes, I grouped by acct, sym.

I called MBT (before hrs tech support) and they couldn't fix it.
  • #4,984
  • Edited 4:25pm Mar 6, 2010 4:04pm | Edited 4:25pm
I am a firm believer in that if other variables are equal, the least expensive broker is the better broker as trading costs can really add up overtime. I have been trading up to know with FXCM Micro as the spreads were reasonable. Because of the CFTC recent proposals, I transferred the account to their UK entitiy, but now they are raising the spread on the micros to a level which I am not used to.

Because of this I started shopping for a new broker and doing research...I have concluded that MB is where I want my account to be, but my concern is the CFTC proposal that would limit margin to 10 to 1.

I will like to know if MB Trading has plans to in the future open an UK or foreign entity to allow US residents to get away from the US regulatory madness if they so choose?
If this is forthcoming then I would have no qualms in opening an account with you, I may not want to do it if in a few months margin is cut to 10 to 1 and then I would be forced to go the UK route again.

From what I have read, the MT4 is working great, except minor changes in code to EAs. If you guys become pro-active to the trader's needs regarding margin not being lowered, you could really put a dent in these bucket shops that are using the "new regulatory scheme raising costs to do business" theme as a lame excuse to raise spreads.


Thanks for the anticipated reply.
  • #4,985
  • Mar 6, 2010 5:54pm Mar 6, 2010 5:54pm
Hi Justin,

I would love to trade MB Trading, however, I have a problem. When I am looking at the m1 charts for EUR/CHF (my preferred pair and timeframe), about 10% of candles are missed, sometimes multiple candles at a time. What is the reason for this? Many brokers have the occasional missed candle, but they are all over the place with my mt4 demo account with you guys, and they seem much more common...
Enter Signature
  • #4,986
  • Mar 7, 2010 7:37pm Mar 7, 2010 7:37pm
Quoting wwwin
I am a firm believer in that if other variables are equal, the least expensive broker is the better broker as trading costs can really add up overtime....

wwwin-

I don't know what MB's plans are, but I think you might want to also know that it might not matter. The discussion seems to be that if the CFTC lowers to 10:1, they will go to foreign regulatory bodies like FSA in UK and request that their firms also only offer 10:1 to US customers. In other words, while the discussion is still open (I still think they won't go to 10:1), it isn't clear that any of us here in the US will be left with any viable options for more than the CFTC limit short of sending your money to a country that you shouldn't want to send your money to (i.e. the Phillippines?)
  • #4,987
  • Mar 7, 2010 8:30pm Mar 7, 2010 8:30pm
Quoting wannatradefx
wwwin-

I don't know what MB's plans are, but I think you might want to also know that it might not matter. The discussion seems to be that if the CFTC lowers to 10:1, they will go to foreign regulatory bodies like FSA in UK and request that their firms also only offer 10:1 to US customers. In other words, while the discussion is still open (I still think they won't go to 10:1), it isn't clear that any of us here in the US will be left with any viable options for more than the CFTC limit short of sending your money to a country that you shouldn't...
Yes, you might be right, I have seen letters from Gensler to Congress stating that the OTC bill must require foreign trade boards to register with the CFTC if they allow US residents to open accounts.....the only safe option might be to open a foregin corp., and have that corp. open the account in the corporate name, but that is a pain in the arse...but it might be the only option after they are done.
  • #4,988
  • Mar 8, 2010 10:35am Mar 8, 2010 10:35am
Quoting Bollocks
i have a question about mb

can you give me a definitive answer as to why a mt4 accounts are separate to a navigator accounts. being one broker and providing liquidity through a series of banks, is there a difference in the market you present to each. for instance does the mt4 crowd only go though a selected number of banks because other banks are not interested in mt4 type traders. i find it highly unusual that i had to open a separate account for mt4. i work for Thomson Reuters as a developer and i cannot get my head around the reason for this...
Bollocks,

Actually, it has nothing to do with contractual stuff at all. Nav and MT4 both get identical live quotes feeds and both route orders identically via the ECN. The difference lies in the fact that MT4 and Nav have entirely different back ends.

When you open just a Nav account, that’s all you get. Nav is FIFO-based, including on-line statements. There is no reason to also open this account number on the Meta servers as it won’t be used. The Nav account is free to do anything.

When you open a MetaTrader 4 account, the system has to assign a Nav account number and then also assign that same account number to the Meta servers. However, Nav has many more order types (true trailing stops, TTO, Stop Limt, etc.) that are not compatible with Meta. Therefore, the Nav account has to be “viewable but not useable.” What that means is that you can log into the Nav account and to your on-line statements (which are FIFO based) for that Nav account, but you cannot place trades from the Nav side as those orders would not be compatible with MT4. You place all trades through Meta. In the case of Meta accounts, Meta is not FIFO based, so we have to turn off account statements in Meta. Nav exists as the underlying account for buying power (FIFO based) check purposes.

So the reality is that when a customer wants to open a Nav account, they get just a fully functional Nav account and no Meta account at all. When they want to open a Meta account, they get a Nav account that they can’t trade from and a Meta account.

Under no circumstances (at this time, could be coming in the future) can you have the same account number with both Nav and Meta being able to trade. Thus the reason that you have to choose at the account opening process.

Again, has nothing to do with banking relationships, quotes, or liquidity.
  • #4,989
  • Mar 8, 2010 10:41am Mar 8, 2010 10:41am
Quoting steve930
Anyone having problem with the Nav platform download? The new version I downloaded won't group the windows so it won't put the currency I select on the order board. And yes, I grouped by acct, sym.

I called MBT (before hrs tech support) and they couldn't fix it.
steve930,

Are you referring to the Desktop or Desktop Pro and which version?
  • #4,990
  • Mar 8, 2010 9:28pm Mar 8, 2010 9:28pm
Quoting jleblang
steve930,

Are you referring to the Desktop or Desktop Pro and which version?
Justin,

Thanks for responding. It's the Desktop, version 11.5.0.5. I called support again during regular hours and they said it's a bug and put a ticket in for it. No problem, they suggested trading from the FX Board, which works.
  • #4,991
  • Mar 10, 2010 2:56pm Mar 10, 2010 2:56pm
Justin,
I am testing some EA logic on demo to handle partial MT4 order fills. I create a magic number with the orders, and set them up for 0.3 lots each so they will likely get partially filled. Then I loop throught the orders in the MODE_TRADE queue, looking for my magic numbers.

Today, the demo server started changing my magic number to 0 on partial fills. The comment in the MT4 terminal is not the typical "partial fill" comment, but just a group of characters. See attached.

How should I handle this?
Attached Image (click to enlarge)
Click to Enlarge Name: MBT MT4 partial1.jpeg Size: 40 KB
  • #4,992
  • Mar 10, 2010 3:49pm Mar 10, 2010 3:49pm
Quoting wwwin
Yes, you might be right, I have seen letters from Gensler to Congress stating that the OTC bill must require foreign trade boards to register with the CFTC if they allow US residents to open accounts.....the only safe option might be to open a foregin corp., and have that corp. open the account in the corporate name, but that is a pain in the arse...but it might be the only option after they are done.
Don't give up yet. Check this out:

a CFTC Commissioner says they have been overwhelmed with trader comments:

http://online.wsj.com/article/SB1000...googlenews_wsj

"The proposal in its entirety is intended to allow us to get on with our job of protecting customers and ensuring the financial integrity of firms engaging in retail forex transactions," said Bart Chilton, a CFTC commissioner. He said the comments from the public—largely centering on the leverage proposal—have come down on the agency "like a winter blizzard," noting that it was more than at any time in the agency's history.

http://cdn.forexfactory.com/attachme...8&d=1266343460
  • #4,993
  • Mar 15, 2010 8:17am Mar 15, 2010 8:17am
I have been using MB Trading for several years on the Nav. I started to use the MT4 for charting. However, what I have noticed is, there is no news like if I use InterbankFX. That news is very good and I wonder why you don't offer it?
  • #4,994
  • Mar 15, 2010 10:56am Mar 15, 2010 10:56am
If anyone is interested, here is a great blog about the most important economic events that every currency trader should pay attention to this week from Ilian Yotov on TradingViews.com.

Read The Week Ahead Blog Here
  • #4,995
  • Mar 15, 2010 11:07am Mar 15, 2010 11:07am
Quoting E-Money
I have been using MB Trading for several years on the Nav. I started to use the MT4 for charting. However, what I have noticed is, there is no news like if I use InterbankFX. That news is very good and I wonder why you don't offer it?
That is correct, at this time we do not offer news via MT4. However, through the MBT Desktop and Desktop Pro we offer a very unique and in-depth research and news section which you can access for free.

You can read more about this research here: MBT Research
  • #4,996
  • Mar 15, 2010 2:45pm Mar 15, 2010 2:45pm
Justin, congrats!! Well done!

http://online.barrons.com/article/SB...el_article%3D1
One Chart is Worth Ten Thousand Words.
  • #4,997
  • Mar 15, 2010 3:17pm Mar 15, 2010 3:17pm
Quoting Forex007
Justin, congrats!! Well done!

http://online.barrons.com/article/SB...el_article%3D1
Thank you very much. We are very happy with the outcome and will be discussing this further shortly.
  • #4,998
  • Mar 16, 2010 3:38pm Mar 16, 2010 3:38pm
MBT Desktop Pro Advanced Training

This webinar will train you on the advanced features of the MBT Desktop Pro in regard to Forex. The topics will include advanced preferences, advanced order entry, and charting options.

Date: 3.17.2010

Time: 2PM EST

Will be recorded and available by request from [email protected]

MBT Research

This webinar will train you how to use MBT Research in conjunction with the MBT Navigator. There will be training on the basic features of MBT Research tools, resources, and support for all market classes.

Date: 3.18.2010

Time: 8PM EST

Will be recorded and available by request from [email protected]

MBT Desktop Pro Charting

This training will go over the features and functionality of the MBT Desktop Pro platform in regard to charts. The topics will include set up, preferences, order entry from the chart, studies, and plugins.

Date: 3.24.2010

Time: 8PM EST

Will be recorded and available by request from [email protected]

Register for a webinar or view the entire list here: MBT WORLD WEBINARS

I also recommend you see this list of additional webinars we recommend through our partners at TradingViews.com
  • #4,999
  • Mar 18, 2010 1:53pm Mar 18, 2010 1:53pm
Congrats on the great rating by Barron's, Justin. It sounds like they were pleased with the MBT Web platform, I can't wait to give it a go.

  • #5,000
  • Mar 18, 2010 3:28pm Mar 18, 2010 3:28pm
Quoting smittens4212
Congrats on the great rating by Barron's, Justin. It sounds like they were pleased with the MBT Web platform, I can't wait to give it a go.

Thank you very much.

Web 2.0 should be very soon.
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