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MB Trading Futures - Introduction

  • #1,481
  • Dec 8, 2007 9:54am Dec 8, 2007 9:54am
currently I'm in budapest for a few weeks... avg 201ms for me... anyone have ip of efx remote trader servers so i can try pinging that?

pinging germany for instance is only about the same delay (20-30ms) as pinging a local hungarian site.

just thought it was interesting....

Quoting tayser
I'm guessing you guys house your main equipment in California given my tracert to an EFX server (which I picked up from netstat on my PC).

tayser@gateway:~$ tracert 216.52.236.18
traceroute to 216.52.236.18 (216.52.236.18), 30 hops max, 40 byte packets
1 nexthop.vic.ii.net (203.55.229.88) 18.592 ms 18.557 ms 18.525 ms
2 gi1-1.mel-pipe-bdr1.ii.net (203.215.6.2) 18.451 ms 18.784 ms 18.218 ms
3 gi0-15-1-3.syd-ult-core1.ii.net (203.215.20.12) 33.829 ms 33.615 ms 34.952 ms
4 202.139.19.33 (202.139.19.33) 35.318 ms 35.259 ms 35.323 ms
5 203.208.191.157 (203.208.191.157) 191.552 ms 191.960 ms 191.809 ms
6 208.50.13.185 (208.50.13.185) 193.959 ms 192.891 ms 192.182 ms
7 INTERNAP.gi3-18.ar4.LAX1.gblx.net (64.215.28.150) 193.304 ms 193.758 ms 194.426 ms
8 border7.ge2-0-bbnet1.ocy.pnap.net (216.52.96.9) 191.715 ms 190.595 ms 193.679 ms
9 mbtrading-8.border7.ocy.pnap.net (216.52.107.78) 193.803 ms 193.398 ms 193.482 ms

FYI: that's Melbourne-Sydney-Southern California (pretty much the most / only(!) direct route to the US).

Locating stuff in California is probably the best of both worlds: only 60ms to the East Coast, probably about 150ms from Europe via the East Coast & Atlantic and another 150ms into Asia via Guam/Japan.

Justin correct me if I'm wrong (and I hope I am!) however Akami will speed up the quotes for each pair (so theoretically I could picking quotes up from an Akamai farm in Australia (which my ISP is one of the main AU hosts) at 20-30ms), but we still need to throw our orders to a central server in LA/Southern California (190-200ms for me), or?
  • #1,482
  • Dec 8, 2007 7:29pm Dec 8, 2007 7:29pm
Quoting Moe
i like what mb/efx got going, there's only one problem i have with them and it's a big problem beacuse it limits my order entry, problem is you guys take out margin on pending order's, would this change with the new platform?
when I exit the platform for the day, I want to verify that there are no open orders, the open order window may be hidden but I always have the balance window open, which is reflected on the balance window, no pending positions = 0 margin committed, hence no more worries for the day, be happy cause there will not be a loss while away.
  • #1,483
  • Dec 9, 2007 9:54am Dec 9, 2007 9:54am
Quoting Moe
i like what mb/efx got going, there's only one problem i have with them and it's a big problem beacuse it limits my order entry, problem is you guys take out margin on pending order's, would this change with the new platform?
Correct me if I'm wrong, but wouldn't that be a protection for you?

Here's a simple example:

If you have $1,000 to trade with a you know it will cost you $200 to enter an order, then you know you can enter 5 orders.

So, you set up 1 pending order and EFX deducts the $200 margin.

You now have $800 left, which means you can place 4 more orders.

If you cancel that pending order, then the $200 is returned to your account, allowing you once again to enter 5 orders.

That prevents you from entering more pending orders than you have money for.

If they didn't do that, then you could enter 12 pending orders, which would cost you $1,200. That means that 2 of those orders would not get executed.

This is a simple example, but that's how it looks to me. Again, correct me if I'm wrong here.
  • #1,484
  • Dec 10, 2007 2:15am Dec 10, 2007 2:15am
Quoting jleblang
Hello rishi ~

I'm glad to hear you are opening an account with us, if you have questions about this process please let me know.

With regards to your question; more information can be found about our swap charges at http://efxgroup.com/rollover-premium-rates.html.

The reason our charges are so different is the same reason that you see such tight spreads on our system. We gave up the charges to receive better rates from our banks.


Hope this helps.
Hi justin,

I 'm an efx/mbt acc holder. My only complaint is the terrible rollover rates and that will be hurting me as i be trading at longer timeframes from 2008 onwards. Last i heard from your newsletter is Efx may look into improving the rates. any news on that?

cheers
  • #1,485
  • Dec 10, 2007 10:08am Dec 10, 2007 10:08am
Quoting ellipses
Hi justin,

I 'm an efx/mbt acc holder. My only complaint is the terrible rollover rates and that will be hurting me as i be trading at longer timeframes from 2008 onwards. Last i heard from your newsletter is Efx may look into improving the rates. any news on that?

cheers
If your trading strategy is moving longer term and is based more on rates, you might want to consider another broker like Oanda. EFX/MBTF doesn't cut it for trading that is dependent on rates. I believe they have already slightly improved their rates in the last month or two, but it still isn't what the desks offer.
FXChant Singing the World of Forex
  • #1,486
  • Dec 11, 2007 11:38am Dec 11, 2007 11:38am
Quoting ellipses
Hi justin,

I 'm an efx/mbt acc holder. My only complaint is the terrible rollover rates and that will be hurting me as i be trading at longer timeframes from 2008 onwards. Last i heard from your newsletter is Efx may look into improving the rates. any news on that?

cheers
ellipses ~

There have been some slight improvements as fxchant stated, but no drastic changes that would make a difference in your long term trading strategy. As soon as I know more, I'll certainly pass along the information.
  • #1,487
  • Dec 14, 2007 7:35am Dec 14, 2007 7:35am
Wow, the demo's just turned to utter crap. Orders for 1,000,000 AUDJPY sitting at pending for 10+ seconds???

woeful.
  • #1,488
  • Dec 16, 2007 10:31am Dec 16, 2007 10:31am
Can someone please help clarify something for me, yes its about swap rates if thats the correct term. I asked EFX support was referred to their website which just showed how to calculate them but not the actual rates, but I did see the BUY PREM and SELL PREM that you can add in the navigator. I also submitted a support ticket to MBTF and got told very politely they do not answer questions regarding swap rates. So I added the BUY and SELL premium. Is there anyway to show these rates without entering trades? Or is the only way to enter demo trades to show them?
  • #1,489
  • Dec 16, 2007 1:18pm Dec 16, 2007 1:18pm
Quoting creztor
Can someone please help clarify something for me, yes its about swap rates if thats the correct term. I asked EFX support was referred to their website which just showed how to calculate them but not the actual rates, but I did see the BUY PREM and SELL PREM that you can add in the navigator. I also submitted a support ticket to MBTF and got told very politely they do not answer questions regarding swap rates. So I added the BUY and SELL premium. Is there anyway to show these rates without entering trades? Or is the only way to enter demo trades to show them?
Compared to my bank account the swap rates are great. Why anyone would try to establish a carry trade this year with the current volatility is beyond my comprehension.--does not compute--
so I'll take an example-change details for my own personal protection- a trade on the widest spread that I'm comfortable trading with.

for NZD/JPY at 10 lots yield $33.+/-.33 per day out of an approximate $760 position USD. please correct my math if it is wrong, that with a spread of 8.25/.5 in stated rates from the banks from these countries. Did I overstate by a decimal point too far right?

I don't understand why people complain about the rates with MBtrading/EFXgroup,- since the banks from these various countries would pay and/or garnish the amounts from the open positions,- as if MBtrading/EFXgroup would pay/ or garnish the amounts themselves.
  • #1,490
  • Dec 16, 2007 8:13pm Dec 16, 2007 8:13pm
mdetlh thanks for that reply, I was mostly looking for a way to show these rates or at least understand what the buy prem/sell prem is displaying so I can understand it. I find it annoying to have to enter demo trades to display these numbers, is this the only way to do it? If so then so be it.
  • #1,491
  • Dec 16, 2007 8:23pm Dec 16, 2007 8:23pm
Quoting creztor
mdetlh thanks for that reply, I was mostly looking for a way to show these rates or at least understand what the buy prem/sell prem is displaying so I can understand it. I find it annoying to have to enter demo trades to display these numbers, is this the only way to do it? If so then so be it.
. . . . I don't bother with trying to figure the swap rates out, just figured that I was better off with scalping certain times of the day with 1/50 of my account per trade. I was pleasantly surprised that my income for a few hours was larger than my yearly bank yield, though I lost on the equity part of a trade that I referred to.
Best regards
  • #1,492
  • Dec 16, 2007 8:27pm Dec 16, 2007 8:27pm
crez: open a watchlist window, add the pairs you are interested in, add collumns 'buy prem.' and 'sell prem.'

Id also dispute that they merely pass along the rolls they get from the banks. As they write on their own website, high volume traders can get discounted commissions and also better interest rate spreads. So, obviously, they can control it to some degree, just like they can adjust commissions, and apparently keep a split on the rolls for themselfs. Just like they keep the yummy interest on client funds.
  • #1,493
  • Dec 16, 2007 8:49pm Dec 16, 2007 8:49pm
Thank you very much shrike, I took a stupid pill and couldn't find that window, but is all good now.
  • #1,494
  • Dec 17, 2007 10:32am Dec 17, 2007 10:32am
Quoting shrike
crez: open a watchlist window, add the pairs you are interested in, add collumns 'buy prem.' and 'sell prem.'

Id also dispute that they merely pass along the rolls they get from the banks. As they write on their own website, high volume traders can get discounted commissions and also better interest rate spreads. So, obviously, they can control it to some degree, just like they can adjust commissions, and apparently keep a split on the rolls for themselfs. Just like they keep the yummy interest on client funds.
Shrike-

Actually, it is a lot more specific than what you are saying. We are subject to the rates that our banks provide us on our customers. However, we have negotiated with those same banks that specifically on accounts over a certain value (over a million on deposit), they will manually allow us to adjust any rate charges during a month to a 1.1% net rate spread on all pairs. It is issued at the end of the month after a calculation is done and only for specific accounts where we can show a certain deposit size. We don’t set it or get any of it.
  • #1,495
  • Dec 21, 2007 11:22am Dec 21, 2007 11:22am
Hello everyone ~

I wanted to give you an update on Remote Trader. Due to the Holidays, not everyone is around, so we’ve had a few issues getting Remote Trader out the door to everyone. Just so everyone is aware, we have to move customers in waves, so another group of Live traders has been moved to Remote Trader today. It is happening, but the process of entitling EFX customers in the MB system to our application takes a little manual work. People will all be moved over shortly, but the Holidays are having an impact. In addition, we expect to have a full set of tutorials in our Do-It-Yourself section of the website shortly. The web guys are out the door through New Year’s, and then they should go up.

We’re also waiting on a legal matter with MB and one last update to the initial platform. Then we can take it off of Beta. After that, things should pick up over the next month or two in terms of quickly adding in the features that we’ve been waiting for, like more advanced charting, trade from the charts, wireless access, advanced orders, sound alerts, and of course, what everyone has been waiting for, the scripting/auto-trading piece. All of those pieces are in development, but they can’t be tested in a production environment until the Live environment is completely set. Obviously, we need to test each piece before we then take it to Beta for customers to use.

Also, we get a lot of requests for demo trading on Remote Trader. I just want to make everyone aware that our priority is our Live customers and the Live environment. Demo trading on the platform probably won’t be available until late January.

When everyone gets back from the Holidays, we will be doing a series of webinars in our new webinar/Chat room. Chris Mercer, our Vice-President of Technology, will be walking people through Remote Trader, how to use it, and what’s coming. We’ll do several of these to account for different time zones, and we will record them as well.

Merry Christmas to all from EFX. I want to thank everyone for their support for the year. Have a Happy Holiday season.
  • #1,496
  • Dec 21, 2007 1:58pm Dec 21, 2007 1:58pm
Hi,

I understand that spread can be very tight on various pairs during liquid time, from 1/10 to 3 pips on usdjpy.

The commission structure is $5 per 100k, per transaction/round turn?

So It's actually $10 per open/close position, or around 1 to 1.5 pip ?

Do you provide account/margin protection?
  • #1,497
  • Dec 22, 2007 1:00pm Dec 22, 2007 1:00pm
Now we are waiting to see what you are going to do regarding the NFAs min balance requirements.........
Same Whore .... Different Dress
  • #1,498
  • Dec 22, 2007 1:28pm Dec 22, 2007 1:28pm
Everyone who has a live acct. with MBT was emailed an estimated net capital computation on Dec. 20. MBT looks to have no problems(at least at this time) metting the NFA's requirements.
  • #1,499
  • Edited 4:23pm Dec 23, 2007 4:21pm | Edited 4:23pm
Thanks Justin for the update, I'm looking forward to this Remote Trader and Wireless Trading (and EA too).

When you introduce your own charting, does it mean IntelliChart would be redundant? I'm currently subscribed to its desktop version.

Thanks.

PS. Hopefully hedging would be allowed too, then I don't have to open additional account to another broker (I know this is a long shot).
"People sometimes mistake luck with skill"
  • #1,500
  • Dec 25, 2007 5:21pm Dec 25, 2007 5:21pm
Justin the EFX guy,

First off, I have a 4 year degree and an IQ of 132....but your software makes me feel really, really stupid.

The tutorials provided show a different software altogether than the one I downloaded called 'EFX Navigator'. Did I download the wrong one? Do I have to meditate on a mountain in Nepal to understand? Or is it something that will become clear to me when I die and melt into the great energy pool again?

I demoed for a year w/ FXCM, but scare stories made me reconsider them just as I put the money together for a real account. Heard lots of good things about you guys and MB Justin, but my experience w/ your software has me reconsidering going w/ either of you. What gives?

confusedly yours,
Max
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