MB Trading Futures - Introduction | Page 56 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Introduction and trading basics 27 replies

Introduction to Level 2 4 replies

VTTrader: How to Write Your Own VT Indicator Introduction. 0 replies

Interest Rates: An Introduction 0 replies

An introduction to spread betting 0 replies

Attachments: MB Trading Futures - Introduction
Exit Attachments

MB Trading Futures - Introduction

  • #1,101
  • Aug 30, 2007 5:35pm Aug 30, 2007 5:35pm
Quoting shrike
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.
I use Oanda for carry trades...and can you find their rates easily on their site from the home page?
FXChant Singing the World of Forex
  • #1,102
  • Aug 30, 2007 6:02pm Aug 30, 2007 6:02pm
Quoting fxchant
I use Oanda for carry trades...and can you find their rates easily on their site from the home page?
Well they are there atleast, i dont know if they are easy to find (i have them bookmarked since like forever). I dont have a problem with this really, just tried to answer TraderKGBs question.

P.s.: i didnt intend to flame efx with any of my posts (i have an account there myself), i am just takeing the broad view that its more helpful to the readers of a discussion-board to also point out the weaknesses (amongst the strengths) of a broker instead of haveing a too onesided thread.
  • #1,103
  • Sep 1, 2007 6:51pm Sep 1, 2007 6:51pm
Please, somebody speak portuguese here ?
  • #1,104
  • Sep 2, 2007 6:14am Sep 2, 2007 6:14am
Quoting shrike
From a marketing perspective, it certainly makes sense to bury this disgrace in the depths of the trading software
It took me less than a minute to find this on their site :

http://efxgroup.com/rollover-premium-rates.html

Of course it doesn't show the rates, but I don't know if 'burying in the depths of the software' is accurate, since it is extremely easy and the instructions are right there, even with a graphic image to show you exactly how to do it... and those instructions are easy to find. So if that's burying, then just let me know where the 99% of other brokers are clearly and openly explaining that they are trading against you and make their profits from your losses (and of course from the artificial inflated spreads). It's all relative, you surely know the massive advantages in the non-dealing desk system, and Justin repeatedly explains the small disadvantage in the rollover rates (it's definitely not a secret), so why whinge about not being able to easily find the rates when the instructions are clear and obvious... My point is, if you have something so much better than the competition in almost every way, why complain about the one relatively small disadvantage...
  • #1,105
  • Sep 2, 2007 7:25am Sep 2, 2007 7:25am
Quoting Jin
Of course it doesn't show the rates, but I don't know if 'burying in the depths of the software' is accurate, since it is extremely easy and the instructions are right there, even with a graphic image to show you exactly how to do it... and those instructions are easy to find. So if that's burying, then just let me know where the 99% of other brokers are clearly and openly explaining that they are trading against you and make their profits from your losses (and of course from the artificial inflated spreads). It's all relative, you surely know the massive advantages in the non-dealing desk system, and Justin repeatedly explains the small disadvantage in the rollover rates (it's definitely not a secret), so why whinge about not being able to easily find the rates when the instructions are clear and obvious... My point is, if you have something so much better than the competition in almost every way, why complain about the one relatively small disadvantage...
I stand by my point, if they had kick-ass rolls, they probably would be visible on a prominent location on their website. Yes, they are easy to find in the software, but TraderKGB asked why they arent published on the website, that was the subject of the discussion.

If its a relatively small disadvantage or not is entirely dependent on the trading style. Obviously, they are a non-issue for daytraders, a mild annoyance for swing-traders, rather bad for position-traders, and carry-trades are pretty much not reasonable at all. If its the broker or the banks that keeps the difference to true market rates is of no relevance to me.
  • #1,106
  • Sep 2, 2007 11:15am Sep 2, 2007 11:15am
Question for Justin,

Hi Justin,
I notice on the MB site under miscellaneous fees that there is an annual maintainance fee. But I do not see it under the EFX group site.
Do you charge this fee or is it just for MB accounts?
If it does not apply to you how can I change my account from MB to you?
Also are there any plans to be able to trade from Euro or Sterling accounts? $ weakness makes a dent in earnings!

BTW; I am very happy with the service from MB and I hope that it and EFX continues to prosper.
On another note : What benefits does it hold MB to remain a member of NFA?
When what we need is to be part of some governmental regulation like the SEC not one manipulated by the larger brokers/ECNs. Especially when the industry does not appear to regulate itself to protect customers better. Even better for traders is to have some kind of global watchdog as FX trading is a global activity.
We need worldwide standards. As currency exchange is a worldwide activity.
I think MB is in the right half of the industry and continues to behave in a manner that is bringing it success.
  • #1,107
  • Sep 5, 2007 12:13pm Sep 5, 2007 12:13pm
I've a question about pips counting. Mbtrading only shows the dollar amount. How do I figure out how translate the amount into pips and vice versa? Thanks.
  • #1,108
  • Sep 5, 2007 12:21pm Sep 5, 2007 12:21pm
Does 100% of the commissions go to EFX? Or must EFX pay out some of the commissions it receives to the banks?

Or from the other direction... how do banks make their money? Only on the spread and rollover?
  • #1,109
  • Sep 5, 2007 3:14pm Sep 5, 2007 3:14pm
Quoting lava
Question for Justin,

Hi Justin,
I notice on the MB site under miscellaneous fees that there is an annual maintainance fee. But I do not see it under the EFX group site.
Do you charge this fee or is it just for MB accounts?
If it does not apply to you how can I change my account from MB to you?
Also are there any plans to be able to trade from Euro or Sterling accounts? $ weakness makes a dent in earnings!

BTW; I am very happy with the service from MB and I hope that it and EFX continues to prosper.
On another note : What benefits does it hold MB to remain a member of NFA?
When what we need is to be part of some governmental regulation like the SEC not one manipulated by the larger brokers/ECNs. Especially when the industry does not appear to regulate itself to protect customers better. Even better for traders is to have some kind of global watchdog as FX trading is a global activity.
We need worldwide standards. As currency exchange is a worldwide activity.
I think MB is in the right half of the industry and continues to behave in a manner that is bringing it success.
Lava,

The miscellaneous fees are for IRA accounts only. No other monthly/annually fees are applied for maintaining an account with EFX or MBTrading.

We do have plans to offer accounts in non-USD denominations, but I do not know when this will take affect.
  • #1,110
  • Sep 5, 2007 3:19pm Sep 5, 2007 3:19pm
Quoting esperanza
I've a question about pips counting. Mbtrading only shows the dollar amount. How do I figure out how translate the amount into pips and vice versa? Thanks.
esperanza,

By adding the 'PnL per Pair' column to your positions window, you can view how many pips your positive or negative.

To add columns: Right click on the columns row and left click on 'add/remove column'. Select the column you want by left clicking and dragging it into the columns row of the position window.

Save your layout.
Attached Image (click to enlarge)
Click to Enlarge Name: pip counter.jpg Size: 39 KB
  • #1,111
  • Sep 5, 2007 3:25pm Sep 5, 2007 3:25pm
Quoting ycomp
Does 100% of the commissions go to EFX? Or must EFX pay out some of the commissions it receives to the banks?

Or from the other direction... how do banks make their money? Only on the spread and rollover?
ycomp,

Our banks do receive a portion of the commission charge for providing the liquidity in our system.

The banks make money from the commission and swap rates.

Regards,
  • #1,112
  • Sep 5, 2007 8:50pm Sep 5, 2007 8:50pm
Quoting jleblang
Lava,

The miscellaneous fees are for IRA accounts only. No other monthly/annually fees are applied for maintaining an account with EFX or MBTrading.

We do have plans to offer accounts in non-USD denominations, but I do not know when this will take affect.
Can we use the IRA account to trade the forex?
  • #1,113
  • Sep 5, 2007 8:57pm Sep 5, 2007 8:57pm
Quoting bigzz
Can we use the IRA account to trade the forex?
bigzz ~

Yes, EFX does offer IRA accounts, please visit http://efxgroup.com/live-account.php to learn more.

Thank you,
  • #1,114
  • Sep 5, 2007 9:33pm Sep 5, 2007 9:33pm
Quoting jleblang
bigzz ~

Yes, EFX does offer IRA accounts, please visit http://efxgroup.com/live-account.php to learn more.

Thank you,

Now if you just had a platform that would run on a MAC.
and please don't recommend parallel or some other windoze emulation software..... If I wanted to run windoze I would have a PC instead of a MAC.
so please tell me you will be creating a MAC based platform, please please please
Same Whore .... Different Dress
  • #1,115
  • Sep 5, 2007 9:51pm Sep 5, 2007 9:51pm
Hey Guys ~

I just wanted to thank everyone who attended tonight’s 'Forex ECNs: Evolution or Revolution and The Path to Omega' webinar hosted by FXTicker.com. I hope you enjoyed it!

If you have any follow up questions, please email me at [email protected]

Good Night.
  • #1,116
  • Sep 6, 2007 1:09am Sep 6, 2007 1:09am
Quoting johnedoe
Now if you just had a platform that would run on a MAC.
and please don't recommend parallel or some other windoze emulation software..... If I wanted to run windoze I would have a PC instead of a MAC.
so please tell me you will be creating a MAC based platform, please please please
I see this kind of post once in a while... and I still don't understand it. Shouldn't you choose the OS based on the broker you want to use and not the other way around? Just buy a dedicated XP Trading Notebook... notebooks are damn cheap now. XP without anything else running or installed is quite stable.

If you're worried about security, I think that XP without using email or browsers, file sharing disabled and sitting behind a router should be safe enough.

I mean this is the way one would think about anything else in business... use the OS that will run the software you need.
  • #1,117
  • Sep 6, 2007 12:11pm Sep 6, 2007 12:11pm
And yet ycomp, you can't help but hope that your favorite broker would provide a platform useable with your favorite os. I run linux and would be happy as a lark if I could trade on linux with this broker--we'll see what Omega brings and if that is even possible--as far as I know it doesn't seem to be possible with their current platforms, except maybe behind an emulater which I don't really want to use for live trading. That being said, your idea of a laptop is great for those who have no xp machine to trade on...and they are cheap! I saw one the other day under $500 and it would be just fine to trade with (might have to ramp up the ram for cyrox)
  • #1,118
  • Sep 6, 2007 12:38pm Sep 6, 2007 12:38pm
Hi, i'm searching charting software for efx data feed. I need tick charts. QuoteTracker works great with efx but tick chart can't be displayed. Any idea?
  • #1,119
  • Sep 6, 2007 3:52pm Sep 6, 2007 3:52pm
Quoting Fireblade
Hi, i'm searching charting software for efx data feed. I need tick charts. QuoteTracker works great with efx but tick chart can't be displayed. Any idea?
I was just playing with QuoteTraker's demo a minute ago and was trying to get tick charts up and couldn't. Guess tick charts are just for futures not forex or something. I'm suffering with Oanda's 5 second charts but they don't match EFX data all that well seems to me. Do you know for sure QuoteTracker doesn't have forex tick charts? Might have to see if Intellicharts has tick charts and use EFX data and have accurate data for my orders!
  • #1,120
  • Sep 6, 2007 4:41pm Sep 6, 2007 4:41pm
Says here Quotetracker's supposed to have "tick by tick" data:

http://www.quotetracker.com/images/greenball.gif
<A href="http://www.quotetracker.com/EFXGroup" target=_blank>EFX Group
http://www.quotetracker.com/images/qttradesupported.gif
YES
NO
Streaming Real-time quotes (tick-by-tick) and Level II. Support for FOREX and other securities. Max 100 symbols. Supports QT Integrated Trading.
NOTE: For Setup Instructions and Symbol Formats, visit our EFX Group Help Page



Guess I'll have to read all the documentation. Learning software is as hard as trading to me!
1 trader viewing now