MB Trading Futures - Introduction

Jason I was curious if with omega there will be a different SDK release? I am interested in hiring out some work for a custom api but if support for navagator was going to be slowly replaced I'd rather was for the new sdk setup.

I used MBT/EFX Demo Navigator to place trade sizes down to 1
unit currency.
On using MBT Live Navigator, Orders less than 1000 units
currency get rejected.

Can Justin or anyone representing MBT/EFX explain why this
discrepancy between the Demo and Live accounts are
allowed?

Is it a way to mislead potential clients that they will be
allowed to trade small sizes less than 1000 units but in
reality they are not?

Mr. H. ~

While the bank quotes are identical on both the Demo and Live platforms, our banking participants do not accept orders less then 1000 currency units or $.10 per pip. Currently the minimum trade size is .1 lot or 1000 currency units as stated many times on the forums. This is certainly not to "mislead potential clients".

Do you need to trade at less then 1000 currency units? I don't even know of any broker that offers anything lower, if someone does please let me know for my own knowledge.

Thank you.

Yes, Oanda, Interbank FX, and a few others do......down to nano-lots. (penny a pip)

Hi Justin,

Here is a statement from the EFX Group website:

Universal Account

We do not differentiate between mini and standard accounts. We offer a
universal account with 100:1 margin that can be opened with just $400.
You can place orders of any size down to micro increments of $1.
The execution is all the same.


Am I wrong to assume that the minimum trade size is $1 from the above statement?

To quote an email I received from an EFX rep...
"There will be an evolving API for Omega as the product is built."

Also worth considering is EFX also supports direct FIX access to their systems, so you can totally bypass any Navigator or Omega client sdk.

Have a look at the following link without me being affiliated:
http://www.mbtrading.com/MbtFIX.asp

EFX has already stated that they have a better way to go about this for traders with software ready to go. Contact them and ask.

Hi fellows,

I am getting more and more interested in trading with EFX, say when project Omega gets available. Especially as I have read that it would or could offer server based scripts so one doesn´t have to have a computer running 24 hrs a day.

Currently I´m trading a very simple system with only 2 indicators manually for a long period now. I don´t really want a MT4 dealing desk shop, although I could have my system be automated this way.

Now my actual question: Is anything known about which programming language(s) OMEGA will use and EVEN more important: Where can I find someone who is willing to programm this idiotic simple system for me? Programming is a pure horror to me Thus, I have to trade the signals manually. Again: I know the rules are completely programmable and the system uses no discretion; it´s 100% mechanical.

In their omega preview they said they would use a custom scripting language. Noone can program your system at the moment since omega is not released yet.

You could have someone program it in C# for example, using the EFX-Navigator SDK and let MBT host it on their servers (they offer this, not sure on the price tag tho). Since your system relies on indicators, you would need some data-history too. That means you would have to collect this data in your trading system, or use the esignal or tenfore API for data-retrieval. Even if its a simple system, to get it up and running in a stable way is quite a feat, and will not be cheap if you hire someone. Also remember, your trading-system will have to be maintained (brokers and data-providers like to change stuff in their APIs, often without prior notice), so you would have to have some sort of service agreement with the programmer. It would certainly be much cheaper to wait for the omega autotrading feature.

If you are still interested, i could give you contacts of one or two programmers that have experience with trading systems (no guarantee tho that they have time or interest in this).

Well, even this requires programming skills for which I would need someone. Or may be Omega will integrate something where you can put together indicators in modules (or drag-and-drop like) and define what the system has to do when those 2 indicators meet certain conditions?

I dont know what exactly omega will provide, but when you do it with the navigator SDK, you will have to take care of many things yourself that omega is expected to provide (i.e. data history, hosting, indicators, maintaining api, etc.). That should bring down development and maintainance costs drastically. Atleast i would expect that from omega, but who knows..

seriously why bother! If you have that little capital to trade it would be a more efficient use of your time to flip burgers and save some cash... hell even in the huge 1000+ pip drop in the audjpy recently you'd be sitting on a massive $10 profit... if you picked it right and if you are prepared to wait around a few months for these sort of golden opportunities to come by...

If you've worked out a system that makes thousands of pips a day it might be barely worthwhile but if you had there'd be people throwing money at you to invest for them... even me!

Nano-lots can be useful if you want to trade an exact amount e.g. if with each trade you use 5% of your available margin or if you use your account for hedging rather than trading.

I have recieved an email from EFX about the Omega features. In my opinion, the only thing that makes this platform standout in comparison to others is the Akamai routing (only talking about platform features).
At the moment i have between 1.5 to 2 seconds roundtrip time to the EFX servers from europe, wondering how this will affect the latency. I guess this will also greatly contribute to connection reliability. The only thing better than something like that i could think of would be a Radianz connection, but thats only viable for institutions. I think thats something that sets them apart from other firms.

Now if they would cut their commissions in half(or make it at least 30 or 40, to be more inline with their competitors), offer EUR accounts and fix their interest-rates, that would five the competition a hell of a run for the money.

Hey Guys ~

As most of you probably know, we sent out an e-mail yesterday that explained our current roll-out process of our 24 hour support, our website, and Omega. The response was overwhelming, with several hundred requests to be in the first group of Omega users yesterday alone. We currently have an update on some of this. The local phone company has now set a date of October 12th for our new phone setup which will allow us to go 24 hours with proper support tools. Assume a few days to get used to the new phones, and if the NFA has approved our site by then, we’ll be going to round the clock support sometime in the week following that. We can’t move the first people to Omega until the website is fully up and approved and until we have been able to go 24 hours with support personnel, which is simply a matter of getting the new phone system and lines installed. That means that we’re probably looking at somewhere around the 23rd that the first people will hear from us about running Omega. I will continue to update the situation here as needed. Per the e-mail yesterday, we are moving 40 people at a time to Omega for 3 or 4 waves, probably allowing a week or two for each wave to give us feedback. We’d like to thank everyone for their extraordinary interest in this product, and you will hear from us as we get to you in the list. We took everyone’s e-mail in order, and that is the order that we will be using, no exceptions. Please don’t contact us to ask which group of 40 you might be in. Obviously, it is a busy time here. Also, as a final note, if you have been waiting for Omega to open an account, you might want to start the ball rolling now. We’re already seeing the number of applications surge a bit, and as we get closer to making the product available to everyone, we do expect that to expand. Only live users will be able to trade on Omega for now, but the Demos should work in November sometime.

Hi jleblang

Can i open an account in euro or just in usd?

It's UDS only at the moment, mate. EUR sometime in future, per Justin.

RS

Hello, I was wondering for this broker, can you deposit money to your account via debit/credit card??????

No. Check here.

http://www.efxgroup.com/deposits.html

RS