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MB Trading Futures - Introduction

  • #661
  • May 4, 2007 12:01pm May 4, 2007 12:01pm
Quoting smjones
Justin, because this info is rather personal, would you prefer to have the last few posts removed? They have nothing to do with trading and contain personal information.

Thanks Scott

Moderator
We do not mind, but if the moderators feel it should be removed go ahead.

Thank you.
  • #662
  • Edited 1:04pm May 4, 2007 12:54pm | Edited 1:04pm
radyfox
I must request that no more personal information be posted. If it is, I will delete all of these posts. thanks

If you wish to discuss your personal account, please do so directly with EFX.
Moderator
  • #663
  • May 6, 2007 3:37pm May 6, 2007 3:37pm
Hi Justin ,
I have opend an account with EFX and I am very pleased so far.
I have 1 problem and 1 question.
1.FX Pro does not work for me , I use Vista .I tried to uninstall and all those procedures but without success.

2. Charting program costs 50 dollars per month. I was under the impression that it was going to be free of charge?

Best Regards
There are no certainties only oppurtunities.
  • #664
  • May 6, 2007 10:42pm May 6, 2007 10:42pm
Hey Justin,
Sorry I haven't read this whole thread and you may have addressed the issue, but I as I understood it EFX was creating a whole system including charts--is that still going on? I had been told possibly in the new year (07), then I was told mid year--not a worry, we want you guys to do it right Just wondering if you know when it's coming out. I currently use MT4 with another broker because it's all integrated and would love to come over to EFX, just would like a fully integrated platform. Thanks for your response.
  • #665
  • May 7, 2007 8:50am May 7, 2007 8:50am
Quoting pkchilly
Hey Justin,
Sorry I haven't read this whole thread and you may have addressed the issue, but I as I understood it EFX was creating a whole system including charts--is that still going on? I had been told possibly in the new year (07), then I was told mid year--not a worry, we want you guys to do it right Just wondering if you know when it's coming out. I currently use MT4 with another broker because it's all integrated and would love to come over to EFX, just would like a fully integrated platform. Thanks for your response.
Pkchilly,
Check out this thread where they make it clear they're working on a fully integrated platform like you and a lot of us want:

http://www.forexfactory.com/showthread.php?t=24210
  • #666
  • May 7, 2007 5:04pm May 7, 2007 5:04pm
Hey thanks a ton Poocher--I'll read asap.

pkchillly
  • #667
  • May 8, 2007 4:47am May 8, 2007 4:47am
Quoting Forex1man
Somewhat, he entered an limit to sell price that turned out to be below the bid price when entered. The internal settings of the platform for whatever reason caused it to fill at the lowest possible price which turned out to be 40-75 pips away from the then bid price. The error on entering could and does happen to people all the time. The platform could have filled him at any price even 500 pips lower devasting him or anyone making this easy error that is probably made hundreds of times everyday. Be aware they sure are not fore warning. Due to the platform settings it caused a trade that was profitable for a few hundred turn into a $1600 loss with a mouseclick, with the potential of that loss be unlimited up to the full account value, that is the point.
sounds like some lucky chap made real good money from your accident prone friend... Don't fret, its your friends' mistake, you'd get the same thing even when you trade index futures, or anything else for that matter.

If I were to see an order hung that far away from the current price, in my 2nd level qoutes, i'd snap it like a hungry crocodile, your friend was hunted right from the time he drew away from the herd...by accident.

regards
jest
  • #668
  • May 9, 2007 1:23am May 9, 2007 1:23am
Hey Justin....
For those of us that are numericaly impared why don't you give us a commision cheat sheet for the pairs on your platform....I can figure the US pairs but the non US pairs are throwing me......
Same Whore .... Different Dress
  • #669
  • Edited 11:23am May 9, 2007 10:43am | Edited 11:23am
Commissions are based on total dollar amount traded: $5.00 per $100,000 traded.

Here are some examples based on the quotes below;

USD/JPY $5.00 per 100,000 traded ($10.00 roundtrip) + 1 pip = 2 pips total
USD/CAD $5.00 per 100,000 traded ($10.00 roundtrip) + 1 pip = 2 pips total

USD/CHF $5.00 per 100,000 traded ($10.00 roundtrip) + 1 pip = 2 pips total
EUR/USD $5.00 * EUR Exchange Rate ($1.35) = $6.75 ($13.50 roundtrip)

$13.50 + 1 pip = 2.5 pips total

AUD/USD $5.00 * AUD Exchange Rate ($0.82) = $4.10 ($8.20 roundtrip)

$8.20 + 0 pip = 1 pip total approx

GBP/USD $5.00 * GBP Exchange Rate ($1.99) = $9.95 ($19.90 roundtrip)

$19.90 + 1 pip = 3 pips total

GBP/JPY $5.00 * GBP Exchange Rate ($1.99) = $9.95 ($19.90 roundtrip)

$19.90 + 2 pips = 4 pips total {notice they gbp/jpy on most platforms is 9 pips }

EUR/JPY $5.00 * EUR Exchange Rate ($1.35) = = $6.75 ($13.50 roundtrip)

$13.50 + 1pips = 2.5 pips total
I hope you find my examples helpful.
Attached Image
  • #670
  • May 9, 2007 11:15am May 9, 2007 11:15am
And non-usd crosses such as EUR/JPY are $5 per 100k currency traded i think, not dollar based in this case.
  • #671
  • May 9, 2007 11:27am May 9, 2007 11:27am
Quoting jleblang

Here are some examples based on the quotes below;

USD/JPY $5.00 per 100,000 traded ($10.00 roundtrip) + 1 pip = 2 pips total
1 pip in the yen is 8,35 USD in your example, so its: 1 + 1.2 pips.

Easy way to calculate it fast for usd-based pairs:
If eur/usd is at 1.3630, commission in pips for a roundturn is 1.363
If gbp/usd is at 1.9950, commssion in pips for a rt is 1.995
  • #672
  • May 9, 2007 12:20pm May 9, 2007 12:20pm
Hello everyone-

Just wanted to give you a few exciting updates.

First of all, our MAT tool (similar to what other platforms call a PAM/LAM) is ready and working. This tool is meant for people managing multiple accounts in the same manner. You can group your accounts together and enter trades once so that each account gets the proportionate size based on the size of the account. This tool works differently on our platform (and was actually difficult to design) because you can get partial fills since we aren't a deal desk.

Please note that while the product seems to function just fine, it is technically still deemed Beta. We currently have people using the product, and we are talking to them about usability enhancements, but we can make it available to managers that already have more than one account with proper documentation in our system.

Also, please note that in order to use this tool, you MUST be authorized to manage the accounts that will be linked together in the MAT tool via a Third Party Trading Authorization form. If you are somehow trading in several accounts for family members without signing that form, we cannot provide you with the MAT. The accounts can only be linked if you have authorization to trade the account. There is no Demo the MAT, and there likely won't be.

Second, you've probably noticed that our spreads have gotten even tighter in the recent days and that our liquidity has grown. We continue to work with major banks to provide you with the tightest quotes in the industry that we can. You'll notice that several banks have now started displaying liquidity at the sub-pip increment. As I stated over a year ago, our feeling is that most of these active pairs will ultimately trade with spreads under a pip most of the time.

Finally, a few words on Project Omega, as we receive many questions about it. I can tell you that there are very few people that have direct knowledge of the product, so anything that you have heard is probably rumor and speculation. I can't give any dates or timelines. In fact, if all goes well, this is a product that we plan to just announce one day "Here it is," with very little warning. But I can say this. A major leap has occurred in the development of the product in the last two weeks, and we're excited about where it is going. Let me just toss out a few words. Charts. Wireless. Simple. Clean. And most of the stuff that you guys have been asking about will be there. We have maintained since the Project launched late last year that it would come out in 2007, and we still firmly believe that this will easily occur. In other words, not at the end of the year.

As usual, I'm around to answer any questions.
  • #673
  • May 10, 2007 3:31pm May 10, 2007 3:31pm
Hi Justin,

thanks for your answer on another forum a few weeks ago.

I have to say, I am very pleased with your demo, or rather your platform.
Unlike others I like the style and especially the Level 2 and the order execution.
Not having to wait till the limit (bid or ask) gets to your order, but putting the order into the bid or ask and getting filled is very nice. (I hope you understand what I mean, sorry for the English).

I want to fund my account, but I need the IBAN and the bank code with my bank for wiring.

Could you please post it?

I also wanted to say, that I hope that you don't work too much.
You are very fast with your replies and your e-mails and I fear that you overwork and once you have too many customers it could be very stressful and not good for your health.

Best wishes

Kurti
  • #674
  • May 10, 2007 4:02pm May 10, 2007 4:02pm
Quoting Kurti
Hi Justin,

thanks for your answer on another forum a few weeks ago.

I have to say, I am very pleased with your demo, or rather your platform.
Unlike others I like the style and especially the Level 2 and the order execution.
Not having to wait till the limit (bid or ask) gets to your order, but putting the order into the bid or ask and getting filled is very nice. (I hope you understand what I mean, sorry for the English).

I want to fund my account, but I need the IBAN and the bank code with my bank for wiring.

Could you please post it?

I also wanted to say, that I hope that you don't work too much.
You are very fast with your replies and your e-mails and I fear that you overwork and once you have too many customers it could be very stressful and not good for your health.

Best wishes

Kurti
Hi Kurti ~

Per your request:

Receiving Bank Address:
Wells Fargo Bank
500 North Sepulveda Blvd.
El Segundo, CA 90245
United States of America

ABA number: 121000248
Beneficiary: MB Trading Futures, Inc.
Account number: 0290119866
Reference: Your name & account number
Foreign Wires: Swift code WFBIUS6S

Disclaimer: In no way was my health affected by this posting.
  • #675
  • May 10, 2007 10:24pm May 10, 2007 10:24pm
hi,

just a short question, if i place a stop loss order, the price (shown in the platform) is not there yet, however there is an order from someone else at my stop loss level in the opposite direction. Would my stop loss be triggered?

thanks.
  • #676
  • May 10, 2007 10:38pm May 10, 2007 10:38pm
Quoting richy
hi,

just a short question, if i place a stop loss order, the price (shown in the platform) is not there yet, however there is an order from someone else at my stop loss level in the opposite direction. Would my stop loss be triggered?

thanks.
good question, i heard of this happening on hotspotfx.
If I Go Broke Trying Then I Will die happy.
  • #677
  • May 11, 2007 4:37am May 11, 2007 4:37am
Quoting Moe
good question, i heard of this happening on hotspotfx.
Id stay clear of stop-orders on the hotspot-platform. HotspotFX-R is basically the same technology as their institutional platform (which is execution only, no stops supported) with what seems to be a cheap hack to support stops for retail customers. What they do is, when you are in a position, and enter a stop-order, they place it on the (single-bank-)platform of the counterparty. That means, your stop gets triggered based on quotes of that counterparty's platform, which may be quite different than what you see on the Hotspot-Platform's aggregated quotes. Also, some of these participating single-bank-platforms incure limits on where you are allowed to place stops, thats the reason you have to set it away atleast 10 pips of the current price.

They have got good executions and cheap commissions, but i think their stop-system is totally subpar, and they should make traders aware of this behaviour before they experience these odd executions first hand and calling their desk.
  • #678
  • May 11, 2007 6:38am May 11, 2007 6:38am
i also notice there spreads or not as good as currenex and mb trading, wonder why.

Quoting shrike
Id stay clear of stop-orders on the hotspot-platform. HotspotFX-R is basically the same technology as their institutional platform (which is execution only, no stops supported) with what seems to be a cheap hack to support stops for retail customers. What they do is, when you are in a position, and enter a stop-order, they place it on the (single-bank-)platform of the counterparty. That means, your stop gets triggered based on quotes of that counterparty's platform, which may be quite different than what you see on the Hotspot-Platform's aggregated quotes. Also, some of these participating single-bank-platforms incure limits on where you are allowed to place stops, thats the reason you have to set it away atleast 10 pips of the current price.

They have got good executions and cheap commissions, but i think their stop-system is totally subpar, and they should make traders aware of this behaviour before they experience these odd executions first hand and calling their desk.
If I Go Broke Trying Then I Will die happy.
  • #679
  • May 13, 2007 2:20am May 13, 2007 2:20am
Is EFX Broker good for news trading?
Please advise.
Kind regards
  • #680
  • May 16, 2007 12:13pm May 16, 2007 12:13pm
Quoting jleblang
Commissions are based on total dollar amount traded: $5.00 per $100,000 traded.

Here are some examples based on the quotes below;

USD/JPY $5.00 per 100,000 traded ($10.00 roundtrip) + 1 pip = 2 pips total
USD/CAD $5.00 per 100,000 traded ($10.00 roundtrip) + 1 pip = 2 pips total

USD/CHF $5.00 per 100,000 traded ($10.00 roundtrip) + 1 pip = 2 pips total
EUR/USD $5.00 * EUR Exchange Rate ($1.35) = $6.75 ($13.50 roundtrip)

$13.50 + 1 pip = 2.5 pips total

AUD/USD $5.00 * AUD Exchange Rate ($0.82) = $4.10 ($8.20 roundtrip)

$8.20 + 0 pip = 1 pip total approx

GBP/USD $5.00 * GBP Exchange Rate ($1.99) = $9.95 ($19.90 roundtrip)

$19.90 + 1 pip = 3 pips total

GBP/JPY $5.00 * GBP Exchange Rate ($1.99) = $9.95 ($19.90 roundtrip)

$19.90 + 2 pips = 4 pips total {notice they gbp/jpy on most platforms is 9 pips }

EUR/JPY $5.00 * EUR Exchange Rate ($1.35) = = $6.75 ($13.50 roundtrip)

$13.50 + 1pips = 2.5 pips total
I hope you find my examples helpful.
Thanks for the cheat sheet, it helps alot.....
Same Whore .... Different Dress
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