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Day Trading vs. Swing Trading vs. Position Trading 86 replies

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MB Trading

  • #21
  • Dec 5, 2007 8:30am Dec 5, 2007 8:30am
Quoting aztrader20
The proof is in the pudding. Oanda.com and then Mbtrading.com and compare price quotes. And no its no where even close to be regulated enough.In the futures market and equities it is highly illegal to take your profit on the back end. And im not saying that you guys are trading against your clients.But you are manipulating the price by a pip. The market is alot more tighter then you think.And its pretty easy to tell when brokers do this.
You're wrong aztrader. Oanda's quotes around news time can get crazy (like 80 pips even)-you'll almost never see that on MB and any ECN. Plus, I once compared live Currenex quotes with live MB quotes, and guess who had the tighter spread?? MB. Just so you know also, I don't even have an MB account anymore, as I trade with Currenex for some other reasons, but you are simply incorrect that the spread is the same at MB and Oanda (or other places). No way...
  • #22
  • Dec 5, 2007 9:07am Dec 5, 2007 9:07am
Quoting aztrader20
The proof is in the pudding. Oanda.com and then Mbtrading.com and compare price quotes. And no its no where even close to be regulated enough.In the futures market and equities it is highly illegal to take your profit on the back end. And im not saying that you guys are trading against your clients.But you are manipulating the price by a pip. The market is alot more tighter then you think.And its pretty easy to tell when brokers do this.
You talk like people that started to trade tomorow !!!!
  • #23
  • Dec 5, 2007 9:23am Dec 5, 2007 9:23am
Quoting aztrader20
The proof is in the pudding. Oanda.com and then Mbtrading.com and compare price quotes. And no its no where even close to be regulated enough.In the futures market and equities it is highly illegal to take your profit on the back end. And im not saying that you guys are trading against your clients.But you are manipulating the price by a pip. The market is alot more tighter then you think.And its pretty easy to tell when brokers do this.
How you could say that they manipulate the price in that environment when the spreads go as low as a tenth of a pip is beyond me. A manipulated spread is like when FXCM says they have a non-dealing desk platform...with a minimum spread of 2 pips. How can they always keep their liquidity providers at least 2 pips apart from each other? That's a manipulated spread. As someone just said, the cost of trading over time on EFX/MBTF is significantly lower than something like Oanda or FXCM. That's TRADING, not carrying positions, which is more expensive on EFX/MBTF. And anyone that thinks IB is less over time doesn't trade much. They have awful fills!
FXChant Singing the World of Forex
  • #24
  • Dec 5, 2007 12:14pm Dec 5, 2007 12:14pm
Quoting fxchant
And anyone that thinks IB is less over time doesn't trade much. They have awful fills!
Interesting. That's the first bad thing I've heard about IB.
  • #25
  • Dec 5, 2007 2:38pm Dec 5, 2007 2:38pm
This is why I didnt want to post anything on any brokers. Most of them have many accounts with forex factory to promote themselves and bash other brokers.Its a cant win situation.Either way I think any trader who does this for a living knows that 10 dollars is way to expensive to make a living trading full time.Regarding the spread has nothing to do with the real quotes.With that logic you should just sign up with Crown Forex.com. They offer 1 pip spreads on almost every thing.
  • #26
  • Dec 5, 2007 4:01pm Dec 5, 2007 4:01pm
Quoting aztrader20
This is why I didnt want to post anything on any brokers. Most of them have many accounts with forex factory to promote themselves and bash other brokers.Its a cant win situation.Either way I think any trader who does this for a living knows that 10 dollars is way to expensive to make a living trading full time.Regarding the spread has nothing to do with the real quotes.With that logic you should just sign up with Crown Forex.com. They offer 1 pip spreads on almost every thing.
I think you are a bit blind my friend, seeing only what you want to see. That's ok of course, it's your money. If you want lower commissions and good spreads, you have other alternatives to MB. Various Currenex brokers, HotspotFx, MF Global just to name a few. Now do you honestly believe I work for all of those brokers (in addition to MB Trading)?? Like I said, you'll see what you want to see.

Best wishes in your trading...
  • #27
  • Dec 5, 2007 8:56pm Dec 5, 2007 8:56pm
Quoting TC East
I think you are a bit blind my friend, seeing only what you want to see. That's ok of course, it's your money. If you want lower commissions and good spreads, you have other alternatives to MB. Various Currenex brokers, HotspotFx, MF Global just to name a few. Now do you honestly believe I work for all of those brokers (in addition to MB Trading)?? Like I said, you'll see what you want to see.

Best wishes in your trading...

Please read the whole thread before making comments. That way you will make more sense on the topic at hand. I do not trade with Oanda. Hope this helps.
  • #28
  • Dec 5, 2007 9:33pm Dec 5, 2007 9:33pm
Quoting aztrader20
Please read the whole thread before making comments. That way you will make more sense on the topic at hand. I do not trade with Oanda. Hope this helps.
Not looking for help myself, just commenting on what you said in the earlier post (which I am of course free to do at any time). I'm not addressing the whole thread anyway, just your insinuation that I (and others) are somehow broker "plants" because we are disputing your assertions.

Does that make any more sense? Anyway, enough of this. Like I said, best wishes to you in your trading; I sincerely hope you are successful...
  • #29
  • Dec 6, 2007 11:16am Dec 6, 2007 11:16am
I'm new to posting on forex factory but have been following peoples posts as I have been looking for a new broker. I currently trade with Oanda but have sort of been looking at MB and some others. Yesterday I spoke to a broker over there and was completely shocked when he told me what I am 100% sure was a lie. We were talking about their liquidity as an ECN, etc and he was trying to impress me so he told me that FXCM clears through MB Trading.I don't know why that broker would say that other than to show MBs size but it is ridiculous. First of all FXCM is much larger than MB, secondly they claim on their site that thei liquidity providers are top tier banks. Why would they then clear through MB? An thirdly, all of the other brokers I have ever spoken to refuse to say exactly who provides their liquidity because they all say they have nondisclosure agreements. I find it hard to believe that FXCM would allow MB or vice versa to make those types of statements. Anyways, very very odd. It definitely left a bad taste in my mouth and thought others should know. Anyone know any MB alternatives?
  • #30
  • Dec 6, 2007 1:50pm Dec 6, 2007 1:50pm
Interesting post. If I was a company supervisor I would definitely be pulling phone recordings right about now - if nothing else just to be sure. So shady. Perhaps they're getting desperate as their capital is not looking like it may suffice.
  • #31
  • Dec 6, 2007 1:57pm Dec 6, 2007 1:57pm
they come on this forum ie: efx group trying to get costumers, but they or a small fish in a big pond, don't let them fool you.
If I Go Broke Trying Then I Will die happy.
  • #32
  • Dec 6, 2007 2:15pm Dec 6, 2007 2:15pm
Quoting Mikey089
I'm new to posting on forex factory but have been following peoples posts as I have been looking for a new broker. I currently trade with Oanda but have sort of been looking at MB and some others. Yesterday I spoke to a broker over there and was completely shocked when he told me what I am 100% sure was a lie. We were talking about their liquidity as an ECN, etc and he was trying to impress me so he told me that FXCM clears through MB Trading.I don't know why that broker would say that other than to show MBs size but it is ridiculous. First of all FXCM is much larger than MB, secondly they claim on their site that thei liquidity providers are top tier banks. Why would they then clear through MB? An thirdly, all of the other brokers I have ever spoken to refuse to say exactly who provides their liquidity because they all say they have nondisclosure agreements. I find it hard to believe that FXCM would allow MB or vice versa to make those types of statements. Anyways, very very odd. It definitely left a bad taste in my mouth and thought others should know. Anyone know any MB alternatives?
Mikey089 ~

I have left you a PM to contact me or to allow me to contact you so I can follow up with you on your discussion with one of our reps.

You may contact me at 877.212.1112
  • #33
  • Dec 6, 2007 2:26pm Dec 6, 2007 2:26pm
Quoting Moe
they come on this forum ie: efx group trying to get costumers, but they or a small fish in a big pond, don't let them fool you.

Just go and look at all of TC East posts. He has never posted anything on any other thread but the broker discussions. After you read every post it is almost funny.You guys are cons. And hopfully every one will realize that and will go to Interactive brokers,Dukscopy, hot spot or any other true ecn broker. Cheaper and alot more honest.
  • #34
  • Dec 6, 2007 3:02pm Dec 6, 2007 3:02pm
Quoting jleblang
Mikey089 ~

I have left you a PM to contact me or to allow me to contact you so I can follow up with you on your discussion with one of our reps.

You may contact me at 877.212.1112
Thank you for your offer Justin, but I was just browsing around for a new broker and I got my answers from your firm. The rep made an impression on me which allowed me to see the types of tactics your firm uses to make a sale. Frankly I'm not impressed but I am happy I caught it before I had invested any money.Thanks again.
  • #35
  • Dec 6, 2007 3:23pm Dec 6, 2007 3:23pm
Quoting Mikey089
Thank you for your offer Justin, but I was just browsing around for a new broker and I got my answers from your firm. The rep made an impression on me which allowed me to see the types of tactics your firm uses to make a sale. Frankly I'm not impressed but I am happy I caught it before I had invested any money.Thanks again.
Thank you for responding.

Our internal policy is not to discuss specifics pertaining to our partners, liquidity providers or anything of that nature. That being said, to address this issue properly I am requesting you tell me the name of the rep you spoke with including the date and approximate time you called and the number in which you called from so we can search our records.

You have to understand my skepticism as this is your first post on Forex Factory and it was not a positive one, regardless if its about us or any other broker. Not only that, I know that NONE of our reps would say such a thing and if you can prove they did, I promise it will be address promptly.

If you are unable/unwilling to provide details in this matter....well then I guess we can all assume you must be just here broker bashing for kicks.
  • #36
  • Dec 6, 2007 3:48pm Dec 6, 2007 3:48pm
Haha, Justin I find it rather hysterical how defensive you are about this and unprofessional really. Frankly, I would think if you were so sure that none of your guys were involved in this that you would have simply ignored the post. I however find it hard to believe that even a competitor or disgruntled ex-trader of yours would come up with something this elaborate to say about you guys. Perhaps we should simply ask that anyone who has ever had something odd said to them by MBT come forward.
  • #37
  • Dec 6, 2007 4:05pm Dec 6, 2007 4:05pm
Quoting jamesanderson
Haha, Justin I find it rather hysterical how defensive you are about this and unprofessional really. Frankly, I would think if you were so sure that none of your guys were involved in this that you would have simply ignored the post. I however find it hard to believe that even a competitor or disgruntled ex-trader of yours would come up with something this elaborate to say about you guys. Perhaps we should simply ask that anyone who has ever had something odd said to them by MBT come forward.
James ~

Thanks for your concern over my post. As is always the case, we are subject to false attacks on these boards all of the time, and I don’t see how it could be viewed as anything BUT professional to try to get to the bottom of them. There are two possibilities. One is that the person who claims that an EFX or MBTF rep said that is not telling the truth. Obviously, if they can’t reply to me with the information requested, then we work off of the assumption that that is the case. The second option is that someone did say something that is entirely inaccurate and we would want to handle that appropriately. I’m leaning toward option 1, how about you?

If Mikey has either the time that the conversation occurred and/or the name of the rep, I can track this down quickly and determine which is true, and I’ll share it with everyone, including letting you know how we handled the situation if anything inappropriate was said. Either way, I’m interested in discovering the truth, as always.

I guess I should be curious about your earlier comment about our capitalization, since obviously we’ve done what we always said we would do…showed the appropriate net capital when the rules required it. What would that comment be in reference to?
  • #38
  • Dec 6, 2007 4:06pm Dec 6, 2007 4:06pm
I think its a quite serious allegation (the NFA fines misleading sales tactics if i am not mistaken, and also can result in a nasty entry on the publically accessible NFA-records). The least the poster could do is provide the details J.LeBlang asked for (date, time, name of rep) either here or contact NFA with the facts of the 'case' about it (verifyable with phone recordings brokers are required to keep).
  • #39
  • Dec 6, 2007 4:13pm Dec 6, 2007 4:13pm
Quoting shrike
I think its a quite serious allegation (the NFA fines misleading sales tactics if i am not mistaken, and also can result in a nasty entry on the publically accessible NFA-records). The least the poster could do is provide the details J.LeBlang asked for (date, time, name of rep) either here or contact NFA with the facts of the 'case' about it (verifyable with phone recordings brokers are required to keep).
I totally agree with shrike. It seems like this is a major accusation against a broker, and the professional thing would be for them to investigate, which Justin appears to be doing. However, considering the accusation came from a first-time poster, I think we all know it won't happen. It's not unusual to see newbies throw up false accusations at various brokers and then disappear, and it certainly isn't unusual to see Justin stay on top of things as usual. The part that seems unusual is someone questioning a broker's motives about wanting to get a resolution on the matter.
FXChant Singing the World of Forex
  • #40
  • Dec 6, 2007 6:43pm Dec 6, 2007 6:43pm
I agree with Shrike and Fxchant.
I expect Justin to defend himself and his company on this board and he continues to do so with great integrity.
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