MB Trading Futures - Introduction

Quoting jleblang

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<o></o>

For the questions about about the fees of trading, particularly to the questions Stockwet asked, let me offer the following:<o></o>

1) The commission structure is very straight forward. You pay $5 per 100,000 USD traded. That means that when you buy 10 minis of USDCHF, which is exactly $100,000 because the USD is the front of the pair, you pay $5. If you buy 10 minis on the EURUSD, this is actually a $133,000 transaction based on the current exchange rate, so the commission is closer to $7. <o></o>

2) Remember that forex is not “contract-based” like futures or stocks. We get charged by the banks providing liquidity based on the same scale, meaning our fees are based on per $100,000. Over time, commissions will drop as this type of platform becomes the “norm.”<o></o>

3) Note that most of the pairs that are more expensive to trade because the exchange rate is high tend to have wide spreads on a fixed spread system. In other words, the GBPUSD typically has a 5-pip spread, which is 10 pips round-trip. It is a more expensive pair to trade because 10 minis = $197,000 right now, and thus, the costs on our system are slightly higher.<o></o>

4) It should also be noted that from a trading perspective, the average ranges on that pair are much higher than the other pairs. I’m not offering you trading advice here, but when you realize that the GBPUSD had 210 pips of range on Friday and the EURUSD had 130 pips, and both pairs would be $10 per 10 minis per pip, not only is the GBPUSD more expensive and requires more money to trade, but it also has the wider range, which means more chance of movement. This is the reason that a lot of people prefer the GBPUSD. You pay about an extra $2 per $100,000 to trade the GBPUSD than the EURUSD, but it moved an extra 70 pips on Friday, for example.<o></o>

5) Again, the biggest key to using a platform like ours is to not have the deal desk manipulating quotes against you and to be able to post your own bids and offers. We believe many active traders find those advantages to be significant, but the costs for now are what they are.

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Quoting jleblang

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Hey Guys –

Charting is now available through Intellicharts – advanced FOREX charts featuring the EFX Datafeed.

 

1. Intuitive and Dynamic Web-based Interface
2. Numerous Time Scales & Periods
3. Crucial Technical Indicators
4. Trend Lines & Fibonacci Analysis
5. Real-Time Data

There are two available options for traders;

1) Online application – EFX Clients $25.00 (non EFX $50.00) a month

2) Desktop Version – EFX Clients $50.00 (non EFX $100.00) a month

So for all of the EFX Clients who have patiently been waiting for charting with our Datafeed, here you go.

Click here for more info: http://efx.tradesecuring.com/Misc/EFX.asp

I hope you enjoy.

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Quoting jleblang

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We don’t do anything related to MT4. However, there is a third party writing our execution to the MT4 platform, so you can use their quotes and get our execution. The key point, however, and the reason that we won’t support the product, is that EA trades are triggered by the MT4 quote server and then executed on our system. Because MT4 quotes come from a deal desk, the quotes could be several pips away from ours, which could help or hurt you. But some people just want the execution to be on our system, so this is a temporary solution.

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Quoting In2Blues

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Thanks for the reply, Justin.

I completely understand why you're not using MT4. I'm only demoing your system right now, but I love it and wouldn't want to lose what you offer.

The advantage to me of MT4 is strictly for the charts and indicators.

I was simply wondering if there was any way for me to be able to display your actual prices on MT4 charts for accuracy, then I'd place the order through EFX Navigator.

I tried to enter your IP address from EFX Navigator into MT4, but it wouldn't work. Of course, I don't know what I'm doing in that area , so I probably did it wrong.

Just looking for a good solution until you release your free charting with EFX Navigator.

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Quoting Moe

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can you trade when that happens.

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Quoting hanz

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hi justin

on the FX-pro demo i did a entry: market Exit TTO on AUD/USD

but when it hit the upper TTO (Target profit on MT4) it didn't close

why? hmm...

http://img502.imageshack.us/img502/6381/efxkw4.gif

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Quoting jleblang

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Hi Hanz,

Most likely this is a result of your demo not working properly, but first let me ask this quick question;

1) Has your TTO order been working properly in the Navigator?

Let me know please.

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Quoting hanz

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guess it's not

i did a market+TTO on EFX navigator

http://img502.imageshack.us/img502/4919/efxrk3.gif

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Quoting jleblang

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Okay -

You have a bad username / password for the demo. Please send me an email with your login details so I can reset the info. This will correct the TTO issue.

Thank you,

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Quoting ellipses

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I was disconnected 30mins ago...the homepage was dwn as well...and i using demo only...i hope situation improves esp if i do open a new account with efx/mbt

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Quoting maxarchi

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Hey Justin,
is there a faster way for me to open up a straddle order so i can scalp, or do i have to do an API if so how do I do it?
Coz i just got killed this morning trying to open a position. it took me 2 minutes to open a position with efx forex client. and the market basically moved on me too fast. Although the forex client is simple enough but i need it to be split second.
thanks

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