How about MBT for News Trading? | Forex Factory

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How about MBT for News Trading?

  • #1
  • First Post: Sep 24, 2007 1:01am Sep 24, 2007 1:01am
Hello Guys,
I am seriously considering using MB Trading for News announcements either using Dustin or Felix service. Has anyone tried MBT, how was your experience? How are the spreads at the time for release?
Does anyone know if there is any special deal going on for Dustin or Felix?

Any help is highly appreciated.


Regards
The_one
Vouch me and I vouch you back !
  • #2
  • Sep 24, 2007 6:03pm Sep 24, 2007 6:03pm
I tried them a few months ago for the nfp.. They ignored my limit orders completely on many occasions.. they were better when I used market orders. The spreads can really widen during volatile conditions.
  • #3
  • Edited 11:11pm Sep 24, 2007 6:37pm | Edited 11:11pm
Quoting The_One
Does anyone know if there is any special deal going on for Dustin or Felix?
One way to make money is to become an IB and get commissions from traders.

But then again, you COULD simply sign up on your own (not through any of the above IB) and see with your $500 account if you get filled or not.

I personally have MBT, but I could not trade news with it. I use MBT for normal market scalping instead.
  • #4
  • Sep 25, 2007 9:17am Sep 25, 2007 9:17am
Quoting The_One
Hello Guys,
I am seriously considering using MB Trading for News announcements either using Dustin or Felix service. Has anyone tried MBT, how was your experience? How are the spreads at the time for release?
Does anyone know if there is any special deal going on for Dustin or Felix?

Any help is highly appreciated.


Regards
The_one

I have to say I have only been live for one week but opened up my account with MBT. I can't be happier at this stage of the game. They have filled every order placed.

I have called the dealing desk a couple of times and got someone promptly. However, if you do have a question, I would recommend calling in over using the IM service. They seem to get really busy and dont always get to you. I am also with Felix and I have signed up for the 25% commission program rebate. So far, I have no complaints!!
Cheers!
  • #5
  • Sep 25, 2007 3:20pm Sep 25, 2007 3:20pm
From looking at posts in Felixs chat room, it seems most people are not getting filled on the spike trades but seem to have good fills on the "after spike" trades.

I seem to remember that MBT was just under the $5 million limit being placed on brokers by the NFA last time I checked. This concerns me.
  • #6
  • Sep 25, 2007 4:45pm Sep 25, 2007 4:45pm
Quoting FrankTheTank
From looking at posts in Felixs chat room, it seems most people are not getting filled on the spike trades but seem to have good fills on the "after spike" trades.

I seem to remember that MBT was just under the $5 million limit being placed on brokers by the NFA last time I checked. This concerns me.

Like I said. That is my opinion based on a weeks trading. I followed felix's advice and they seem to be working great. If you look on the fxb site under Forex Broker Reviews, I think you will see alot of satisfied customers. Have a great day...Happy Traiding. =)
  • #7
  • Sep 25, 2007 5:08pm Sep 25, 2007 5:08pm
Quoting AnneMarie
I have to say I have only been live for one week but opened up my account with MBT. I can't be happier at this stage of the game. They have filled every order placed.

I have called the dealing desk a couple of times and got someone promptly. However, if you do have a question, I would recommend calling in over using the IM service. They seem to get really busy and dont always get to you. I am also with Felix and I have signed up for the 25% commission program rebate. So far, I have no complaints!!
Cheers!

Hi Anne,
Good to know that you have success so far with news trading. I funded MBT and joined Dustin 14-day trial to see if he any good. I am in Sydney, Aus and I get 130-170ms response from his sever. Not sure if it good enough or how it compare with Felix.

Ann, would you have link for Felix's offer? Is there anyone else who is an IB for Felix, I don't mind someone else also making a little bit of cash.
Vouch me and I vouch you back !
  • #8
  • Sep 26, 2007 7:46am Sep 26, 2007 7:46am
Quoting The_One
Hi Anne,
Good to know that you have success so far with news trading. I funded MBT and joined Dustin 14-day trial to see if he any good. I am in Sydney, Aus and I get 130-170ms response from his sever. Not sure if it good enough or how it compare with Felix.

Ann, would you have link for Felix's offer? Is there anyone else who is an IB for Felix, I don't mind someone else also making a little bit of cash.

Go ahead and send me your email info. and I will send you what I have. Have a great day!
AM
  • #9
  • Sep 26, 2007 3:51pm Sep 26, 2007 3:51pm
Quoting The_One
Hi Anne,
Good to know that you have success so far with news trading. I funded MBT and joined Dustin 14-day trial to see if he any good. I am in Sydney, Aus and I get 130-170ms response from his sever. Not sure if it good enough or how it compare with Felix.

Ann, would you have link for Felix's offer? Is there anyone else who is an IB for Felix, I don't mind someone else also making a little bit of cash.

Check your PM's...
  • #10
  • Sep 26, 2007 4:09pm Sep 26, 2007 4:09pm
How does one check the response time of a particular broker?
  • #11
  • Sep 26, 2007 8:05pm Sep 26, 2007 8:05pm
Quoting bigboom
How does one check the response time of a particular broker?

Hi Bigboom,
The RSS software of Dutin shows the response time at the bottom. However I asked their helpdesk anyways and they gave me an IP address to ping, pinging which have me more than 250ms response time as opposed to 130-170 ms shown on the RSS.

Does anyone have an IP address for Felix to test? Please PM with if you do, it may not be safe to release it in public as someone might try do DoS attack on their server.

Regards
The_One
Vouch me and I vouch you back !
  • #12
  • Oct 6, 2007 2:10pm Oct 6, 2007 2:10pm
Quoting The_One
Hello Guys,
I am seriously considering using MB Trading for News announcements either using Dustin or Felix service. Has anyone tried MBT, how was your experience? How are the spreads at the time for release?
Does anyone know if there is any special deal going on for Dustin or Felix?

Any help is highly appreciated.


Regards
The_one
I personally wouldn't use MBT for news trading, maybe after the release but definitely not before or during. I just had a 45 pip slippage recently. It ignored my stop loss completely and passed it by an additional 45 pips against me. I didn't trade the release, I was already in the trade prior to the news.
  • #13
  • Oct 6, 2007 5:36pm Oct 6, 2007 5:36pm
Quoting The_One
Hello Guys,
I am seriously considering using MB Trading for News announcements either using Dustin or Felix service. Has anyone tried MBT, how was your experience? How are the spreads at the time for release?
Does anyone know if there is any special deal going on for Dustin or Felix?

Any help is highly appreciated.


Regards
The_one
I would advise extreme caution using them for newstrading...you will definitely get filled but with whomever you happen to get matched up with, it may not be anywhere near the price one second before the release. No requotes! I use them for regular trading and it has been really good even in volatile markets, but I've heard horror stories for news trading.
  • #14
  • Oct 7, 2007 2:03pm Oct 7, 2007 2:03pm
Please forgive my noob question, but who or what is/are Dustin and/or Felix and what do they do?

I use MBT and I've actually made some live trades, mostly positive. I don't know enough to know if they are much better or worse than other Forex brokers. They do charge commissions.

I wanted to trade the news on the last Non Farm, but I just wasn't brave, bold or fast enough to make a move in time. I was really PO'd with myself. One of the biggest days of the month/year and I sat trembling with fear and indecision.

I seem to have better luck with scalping on a day to day basis making 10 to 50 PIPS.

How many people are very successful and profitable with Forex?

I like Forex in many ways and think I can be successful with it, but lordy, some live trades are nervewracking. I confess I've had to have a glass of wine to calm down afterwards sometimes.

Thanks all.

Gar
  • #15
  • Last Post: May 16, 2008 11:24pm May 16, 2008 11:24pm
I have to agree with most of the posts, MBT is a decent broker but you really can't catch the spikes, even with Felix's SNW(I tried it, never got filled except on retrace).Your limit orders simply won't get filled. not sure how much slippage on market orders b/c i personally don't use them. Of course i don't know a borker where you can catch the spike anymore. Used to when I learned to trade with Jimmy Young back 4 yrs ago, but not today. At least not to my knowledge.
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