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MB Trading Futures - Introduction

  • #1,081
  • Edited 5:20pm Aug 26, 2007 3:39pm | Edited 5:20pm
ACK!! Those off-hour bankers/traders are sure busy. Look at the FREE Intellicharts now, lol (http://efx.tradesecuring.com/Misc/EFX.asp).

Navigator goes back online in half-hour, so I guess we'll see what the scoop is on the actual data

I've attached another screenshot in case the link to the FREE Intellicharts shows differently in the next minute or two, lol.

* Edited - Okay, the market has opened and it seems Navigator and my desktop version of Intellicharts weren't affected by that data displayed on the FREE version of Intellicharts, but boy was that weird.

Justin, if the FREE Intellicharts data isn't accurate, you might not want to have that available for customers. It will get them all confused (the desktop version is much more reliable, as my chart didn't have all that extra candlestick action - it pretty much left off where it ended on Friday). Hopefully Omega is coming ready soon, especially for those needing the free charting, and that the charting will be reliable.

LOL, now I see that the FREE Intellicharts is showing the corrected data. Good grief, I think I need a drink, lol (well, okay maybe a vacation, since I don't drink ).
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  • #1,082
  • Aug 26, 2007 4:08pm Aug 26, 2007 4:08pm
Quoting Poocher
I just listened to the May 17, 2007 Intro. Webinar for EFX Navigator this morning and Justin said some, not all, Vista systems won't save the Navigator layout. But he said there's no bugs affecting trading at all.
thanks
  • #1,083
  • Edited 1:49pm Aug 27, 2007 12:38pm | Edited 1:49pm
Quoting profitplay
Justin,

A couple of months ago the Trade Confirmation Reports was set so that it could calculate the whole year, but now it is only able to calculate 31 days.

Can you please have the programmers make it able to calculate 1 whole year again?

Thank you.
profitplay ~

I'm not seeing the same error that you seem to be having, could you double check your trade confirmation reports and make sure to click on the date box to bring up the calendar.

***I apologize, but I was incorrect in the above statement. In fact it is only possible to view monthly trade confirmations as you had previously stated in your post.
  • #1,084
  • Aug 27, 2007 12:40pm Aug 27, 2007 12:40pm
Quoting cryten
Hi Justin,

I have been looking at both mb and efx recently for a live account but I can't for the life of me find any info on multi currency accounts. If I opened an account and sent you £1000 british pounds or $1000 Brazillian Real would you return the wire or convert the currency? When withdrawing funds do you only send USD?

Regards

Ben
cryten ~

EFX/MBTF currently do not support multi currency accounts. We only accept USD at this time. We do have plans to start accepting non-usd based accounts, but this will most likely be a few months down the road.
  • #1,085
  • Aug 27, 2007 12:42pm Aug 27, 2007 12:42pm
Quoting zoheir
Hi Gentlemen,

I have done a search about Vista and issues with EFX platform and only found reports about Pro with Vista, anyone knows if there are issues with Navigator and vista ?
The reason I ask is that I have a live account with EFX but was always using it on another machine and now the only machine available at home has Vista installed.

Thanks to all in advance
zoheir ~

At this time we have no reported Navigator and Vista issues that I know of.
  • #1,086
  • Aug 28, 2007 6:19am Aug 28, 2007 6:19am
serious questions?

I appreciate Justin trying to answer all that questions - repeatedly.

Me, and maybe some other EFX customers would like to have answers to serious questions, not only those chitchat issues discussed in hundreds of posts.

Justin, I would appreciate a reply to post #1061. Gidnoa has a serious issue and I believe anybody would like to see an answer.

Greetings

Freewheelin

P.S: Sorry for being inconvenient.
42
  • #1,087
  • Aug 28, 2007 7:10am Aug 28, 2007 7:10am
Quoting Freewheelin
serious questions?
Me, and maybe some other EFX customers would like to have answers to serious questions, not only those chitchat issues discussed in hundreds of posts.

Justin, I would appreciate a reply to post #1061. Gidnoa has a serious issue and I believe anybody would like to see an answer.
He already answerd this? The answer was:

*This scenario happens less than 10 times ( < number of fingers on justins hands, 10 assumed) per year for all efx orders executed

*if it happens, it will apparently be compensated

*if it happens, dont contact MBT, contact EFX support to resolve the issue, even tho MBT gives you a phonecall about it



P.S. i dont like this whole trade busting business. If I fk up and put in an erroneous/unintended order, i have to eat the loss. If a bank puts in an erroneous order, it can be busted. Sounds a bit one-sided to me, no?
  • #1,088
  • Aug 29, 2007 4:33pm Aug 29, 2007 4:33pm
is there any way to open an account even if I am a resident of one of the countries that are on restricted list.
  • #1,089
  • Aug 29, 2007 6:10pm Aug 29, 2007 6:10pm
Quoting Abouelzelouf
is there any way to open an account even if I am a resident of one of the countries that are on restricted list.
Abouelzelouf ~

Typically if you are on the restricted list then its not possible at all to open an account with EFX. What country are you in so we can confirm?
  • #1,090
  • Aug 29, 2007 9:20pm Aug 29, 2007 9:20pm
Quoting jleblang
Abouelzelouf ~

Typically if you are on the restricted list then its not possible at all to open an account with EFX. What country are you in so we can confirm?
I am from Lebanon.
is it possible for me to apply, as a resident of another country and provide legal papers, but my bank account would be a Lebanese Bank?
  • #1,091
  • Aug 29, 2007 11:28pm Aug 29, 2007 11:28pm
Quoting Abouelzelouf
I am from Lebanon.
is it possible for me to apply, as a resident of another country and provide legal papers, but my bank account would be a Lebanese Bank?
I don't think you're going to get a positive response on this one, but I just wanted to say that I love your "walking dot man" icon. Cool stuff.
FXChant Singing the World of Forex
  • #1,092
  • Edited 2:12am Aug 30, 2007 1:56am | Edited 2:12am
Justin,

Regarding swap/rollover rates - these should be clearly listed on your website as other reputable brokers do. Prospective clients of EFX/MBTF should NOT have to download the demo, place a trade in each currency, and then add two columns to the position log, simply to see what your rates are. Please forward that statement directly to management.

Regarding the rates themselves, you said they were disadvantageous as a concession to your bank partners for them to accept smaller orders. That's understandable, to a degree.

I'm attaching the rates I acquired from the demo I just downloaded. If these are correct, then I know why your firm requires clients to jump through hoops to see them...

-3.2% buy premium on NZD/JPY?? How could you actually be charged interest for buying one of the highest yielding carry pairs?

NZD/USD also negative on longs...? those rates are completely unjustifiable.. GBP/JPY has a higher buy premium than AUD/JPY? USD/JPY is the highest of all 4?


Some type of explanation is due. I await your response.
Attached Image (click to enlarge)
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  • #1,093
  • Aug 30, 2007 5:58am Aug 30, 2007 5:58am
Quoting jleblang
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,
Justin,
Do you open accounts for Belarus (a small country in Eastern Europe) sitizens?
  • #1,094
  • Aug 30, 2007 10:43am Aug 30, 2007 10:43am
Quoting Abouelzelouf
I am from Lebanon.
is it possible for me to apply, as a resident of another country and provide legal papers, but my bank account would be a Lebanese Bank?
Abouelzelouf ~

At this time we are unable to open accounts from Lebanon do to regulations and compliance order.

Thank you for your interest in EFX Group.
  • #1,095
  • Aug 30, 2007 10:47am Aug 30, 2007 10:47am
Quoting yaskevich
Justin,
Do you open accounts for Belarus (a small country in Eastern Europe) sitizens?
yaskevich ~

I do believe you'll have no issues opening an account from Belarus as it is not on the restricted list. All applicants residing outside of the U.S. are required to submit a valid passport or visa and complete Foreign Customer Notification Forms found on our new accounts page at www.efxgroup.com.

For more info you may contact [email protected].

Thank you,
  • #1,096
  • Aug 30, 2007 10:51am Aug 30, 2007 10:51am
Hey Guys ~

The President of MB Trading has written up a post that was used on another board in regard to the net capital issue, and I wanted to put it up over here since it is coming straight from his mouth, even though it says what we’ve said for weeks now. We’ve received a ton of e-mails in the last day or two since a certain HIGHLY QUESTIONABLE e-mail went out from one of our competitors that I think soured a lot of people against that particular broker due to its overall tone. Based on the actions of some of the “desks” out there and based on the e-mails that we have received inquiring about our product, I suspect that our model is having a much larger impact on this industry than many (maybe even us included) might have expected by this point. We certainly feel confidence in our current growth rate, and keep in mind that our liquidity only gets better and better as more and more of these traders trade with us, since you provide liquidity for each other. It’s a REAL good time for Omega, don’t ya think?

 At any rate, this is what Steve Demarest, President of MBT, had to offer:

 "To understand the MBT model would be helpful in understanding why meeting the current cap requirements of the NFA is plenty sufficient at this time. Anyone can make the claim that there is risk even if we do not have proprietary trading risk like that of deal desks. I guess there is risk of a tsunami engulfing MBT but I don't spend my days dwelling on it. We have ample capital to substantiate the basic business risks associated with agency trading, which is what MBT offers. We have also taken several measures to protect MBT against catastrophic events and natural disasters as well. I think you get my point. With that being said I want to discuss my primary focus which is that of the customers. MBT has always treated our customers with their best interest at heart and will continue to do so. Just because there is some obvious scare campaign going on to overcome either technology or culture inadequacies, I would never consider diverting my focus of offering the best product to my customers. So, in an effort to grow and give customers what they want and need, I do not feel compelled to raise our net cap at a time that does not require it. Back when the NFA raised net cap from 250k to 1 million MBT met the requirement. If at the time the NFA raises the net cap to 5 million, then guess what? MBT will meet the requirement at that time. To meet it before would potentially take resources away from developments at the cost to the customer. I won’t do it. MBT is privately held, financially sound (with no debt) and will continue to operate in the highest standard. I normally would not have responded since I feel confident that those reading this over the past month or more can read between the lines of what is going on, but since a customer of MBT asked me to respond, I felt compelled to accommodate. I leave everyone with this..... If the goal here is to give forex customers of the world comfort in knowing that because the firm you should be with is safer since it has so much in assets, then look at the firms that were listed as the safest based on asset size. Ask yourself one question, how did they get so much in assets? Hint, they don't charge commissions. I hope this helps those that might have needed some input on the matter. Best to all."
  • #1,097
  • Aug 30, 2007 11:06am Aug 30, 2007 11:06am
Quoting Trader KGB
Justin,

Regarding swap/rollover rates - these should be clearly listed on your website as other reputable brokers do. Prospective clients of EFX/MBTF should NOT have to download the demo, place a trade in each currency, and then add two columns to the position log, simply to see what your rates are. Please forward that statement directly to management.

Some type of explanation is due. I await your response.
Trader KGB ~

We've discussed the interest rate scenario thoroughly on these boards, and I'm sure you can find related posts using the search tool. We continue to work on changing our rate structure with the banks and will let everyone know when we have an update.

Regards,
  • #1,098
  • Aug 30, 2007 11:17am Aug 30, 2007 11:17am
Quoting jleblang
Abouelzelouf ~

At this time we are unable to open accounts from Lebanon do to regulations and compliance order.

Thank you for your interest in EFX Group.
what about if I am from Lebanon, but resident in UAE and have residence there, but my bank account is in Lebanon. (I can open a bank account in UAE if needed).
  • #1,099
  • Aug 30, 2007 11:23am Aug 30, 2007 11:23am
Quoting Abouelzelouf
what about if I am from Lebanon, but resident in UAE and have residence there, but my bank account is in Lebanon. (I can open a bank account in UAE if needed).
Abouelzelouf ~

You can try and open an account, but all new applications go through a thoroughly review before approval by compliance and i can't guarantee anything for you. You'll also probably run into some problems with trying to transfer funds from a bank in Lebanon.
  • #1,100
  • Aug 30, 2007 4:45pm Aug 30, 2007 4:45pm
Quoting Trader KGB
Regarding swap/rollover rates - these should be clearly listed on your website as other reputable brokers do. Prospective clients of EFX/MBTF should NOT have to download the demo, place a trade in each currency, and then add two columns to the position log, simply to see what your rates are. Please forward that statement directly to management.
From a marketing perspective, it certainly makes sense to bury this disgrace in the depths of the trading software instead of openly publish it on the website. I thought its obvious that thats the reason for it not being visible on their homepage.

I really hope they fix this, at the moment it would be sort of dumb to trade longer term positions there.
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