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MB Trading Futures - Introduction

  • #701
  • May 22, 2007 8:07am May 22, 2007 8:07am
Quoting bogdan
That means if you are scalping you're broke till evening

Another thing I noticed at their platform that I don't agree. When I buy at market it keeps placing my order with many pips behind or forward. Why is that happening ? I think only that those spreads are not real. This is also happening with Hotspot FX
also if you scalp in you see your pip profit at 2 that's just there commision so you have to take into account at least 2 pips for there comm.
If I Go Broke Trying Then I Will die happy.
  • #702
  • May 22, 2007 8:21am May 22, 2007 8:21am
Quoting Moe
also if you scalp in you see your pip profit at 2 that's just there commision so you have to take into account at least 2 pips for there comm.
Thank you but I rather use a mediocre broker who doesn't charge me 57% and I buy at the price I see and that is suitable for me. I don't like to go into one market trying to buy at one price and observe that I can't ! I work with levels and I want to get into market at those levels, otherwise my strategy is useless.
Brainstorming ... the ...
  • #703
  • May 22, 2007 10:22am May 22, 2007 10:22am
the price board on my account a few moments ago. considering it's prime time trading hours, I think it's absolutely brilliant and more than covers the cost of the commissions. even larger brokers who require large sums to open an account would struggle to compete with these spreads.
Attached Image
I miss cloggie.
  • #704
  • May 22, 2007 11:54am May 22, 2007 11:54am
Hey Guys - it's webinar time again.

If you enjoyed the basic webinar or need guidance with our advanced order types, this is a must attend!

This webinar will be for advanced training using the many different features of the EFX Navigator. We will be covering the following;

1. Order Types - All 15 of our flexible and efficient orders covered in depth.

2. Level ll - Placing trades between the spread.

3. Q &A - Plenty of time to take your questions.

Start Time: 8:00pm EST - 9:30pm EST

Host: Justin LeBlang, V.P. of Business Development

Register: https://www.gotomeeting.com/register/345136586

I hope to see you all there.
  • #705
  • May 22, 2007 2:35pm May 22, 2007 2:35pm
Quoting bogdan
Well I did some tests on their platform. After placing 10-11 positions and closing them I had a $100 profit with $57 Gross Commissions.

What does that mean ? 50% fees ?
we need a little more info regarding your trades, were you scalping for two pip or what?
Same Whore .... Different Dress
  • #706
  • May 22, 2007 4:56pm May 22, 2007 4:56pm
Jin,

I watched both webinars, try a few different platforms out there and maybe you see what I am talking about.

P.S. If you are a small trader (even scalper) you aren't going to beat this spread even with commissions factored in.
  • #707
  • May 22, 2007 7:10pm May 22, 2007 7:10pm
Quoting johnedoe
we need a little more info regarding your trades, were you scalping for two pip or what?
Does it matter ? Maybe I'm scalping with 30 lots. They could have the best spread, with that commissions there is no profit. I also don't like that I can't buy at price I want, that's another inconvenient.

All the best to you, I'm moving to CMS.
Brainstorming ... the ...
  • #708
  • May 23, 2007 12:06am May 23, 2007 12:06am
Quoting bogdan
Does it matter ? Maybe I'm scalping with 30 lots. They could have the best spread, with that commissions there is no profit. I also don't like that I can't buy at price I want, that's another inconvenient.

All the best to you, I'm moving to CMS.
GOOD LUCK
Same Whore .... Different Dress
  • #709
  • May 23, 2007 3:28am May 23, 2007 3:28am
Quoting bogdan
Does it matter ? Maybe I'm scalping with 30 lots. They could have the best spread, with that commissions there is no profit. I also don't like that I can't buy at price I want, that's another inconvenient.

All the best to you, I'm moving to CMS.
blah...
  • #710
  • May 23, 2007 4:52am May 23, 2007 4:52am
Quoting bogdan
Does it matter ? Maybe I'm scalping with 30 lots. They could have the best spread, with that commissions there is no profit. I also don't like that I can't buy at price I want, that's another inconvenient.

All the best to you, I'm moving to CMS.

....you go in katastrofe ...
  • #711
  • May 23, 2007 5:48am May 23, 2007 5:48am
Quoting bogdan
Does it matter ? Maybe I'm scalping with 30 lots. They could have the best spread, with that commissions there is no profit. I also don't like that I can't buy at price I want, that's another inconvenient.

All the best to you, I'm moving to CMS.
yes it does, as if your a high volume trader, you can get a lower commission...
  • #712
  • May 23, 2007 7:10am May 23, 2007 7:10am
Quoting bogdan
After placing 10-11 positions and closing them I had a $100 profit with $57 Gross Commissions.

What does that mean ? 50% fees ?

You made 11 trades, and made $100 profit. With $57 commission, you decide the fees are 50%.

So then you must think that if you had made $1000 profit then the fees are 5%?

And you must think that if you had made $1 profit, then the fees would be 500%?

Obviously, the commission percentage has nothing to do with your amount of profit. The fact that you only made $100 profit after 11 trades just indicates that you are probably over-trading, not that the commission is too high. As has already been pointed out many times, the lower spreads at EFX will generally balance out the cost of the commissions. If you go to another broker that doesn't have commission then you will most likely have higher spreads, which may cost you much more in the long run.

If you had made those 11 trades at another broker, you would have paid no commission but you would probably have higher spreads and you could very likely have ended up with a loss or break-even, not with your $100 profit...
  • #713
  • May 23, 2007 11:27am May 23, 2007 11:27am
Quoting Jin
You made 11 trades, and made $100 profit. With $57 commission, you decide the fees are 50%.

So then you must think that if you had made $1000 profit then the fees are 5%?

And you must think that if you had made $1 profit, then the fees would be 500%?

Obviously, the commission percentage has nothing to do with your amount of profit. The fact that you only made $100 profit after 11 trades just indicates that you are probably over-trading, not that the commission is too high. As has already been pointed out many times, the lower spreads at EFX will generally balance out the cost of the commissions. If you go to another broker that doesn't have commission then you will most likely have higher spreads, which may cost you much more in the long run.

If you had made those 11 trades at another broker, you would have paid no commission but you would probably have higher spreads and you could very likely have ended up with a loss or break-even, not with your $100 profit...
Very well said ~
  • #714
  • May 23, 2007 11:32am May 23, 2007 11:32am
Justin
The 5$ commission is'nt really to bad, however Interactive Brokers commision is only 3$ ....... do you guys see lowering your standard commision in the future?
or what would the volume have to be to get a break?

ps I have to add IBs spreads are very comprable to yours BUT their FX trading platform for REALLY SUCKS,
Same Whore .... Different Dress
  • #715
  • May 23, 2007 11:35am May 23, 2007 11:35am
Quoting bogdan
Does it matter ? Maybe I'm scalping with 30 lots. They could have the best spread, with that commissions there is no profit. I also don't like that I can't buy at price I want, that's another inconvenient.

All the best to you, I'm moving to CMS.
ME thinks you are a shill bogdan..............I hope you enjoy the spreads at CMS.....
Same Whore .... Different Dress
  • #716
  • May 23, 2007 11:38am May 23, 2007 11:38am
Quoting johnedoe
Justin
The 5$ commission is'nt really to bad, however Interactive Brokers commision is only 3$ ....... do you guys see lowering your standard commision in the future?
or what would the volume have to be to get a break?

ps I have to add IBs spreads are very comprable to yours BUT their FX trading platform for REALLY SUCKS,
Hi Johnedoe,

I'm sure in the future our cost will come down, but for now the current commission is a factor of our CLS fee's (clearing fee's) and operational cost.

We do offer volume breaks as you mentioned, for more information please email me at [email protected].

Thank you,
  • #717
  • May 23, 2007 11:41am May 23, 2007 11:41am
Thanks for rthe quick reply Justin, Looking forward to doing business with you in the future, I do hope you guys will get your platform MAC compatable however because that is an issue, even a java based platform so it is compatable on all OSs.
have great day
Same Whore .... Different Dress
  • #718
  • May 23, 2007 4:28pm May 23, 2007 4:28pm
I'm using Interactive Brokers for my Fx trading and I have no complaint with the platform or anything except that their leverage is too low. That's the only reason why I'm moving to EFX.
  • #719
  • May 23, 2007 11:01pm May 23, 2007 11:01pm
Quoting TVS
I'm using Interactive Brokers for my Fx trading and I have no complaint with the platform or anything except that their leverage is too low. That's the only reason why I'm moving to EFX.
And IBs platform is java based.......
Same Whore .... Different Dress
  • #720
  • May 24, 2007 3:22am May 24, 2007 3:22am
Quoting postfin
....you go in katastrofe ...
True. You are right. Better back to gain capital where orders were executed without my knowledge and where java platform controls my computer, right ?

Spread is indeed a problem for trading in minutes but not with this broker. (when it's about fees). I rather trade double time somewhere else but won't cost me that much.

EFX Forex Client gets blocked on many configurations and that is also a inconvenient for me. Bad programming results in bad income. Time will tell.

Making a comparison between ECNs, Hotspot FX is far far away.
Brainstorming ... the ...
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