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MB Trading Futures - Introduction

  • #1,641
  • Feb 12, 2008 10:36pm Feb 12, 2008 10:36pm
Hey Guys ~

Remote Trader is in fact available for LIVE EFX account holders.

If you would like access, please email me at [email protected] and I'll be more then happy to set up you up with a link to the platform and an archived webinar link on using Remote Trader.

Please note: I'll be out of the office Thursday & Friday, February 14th & 15th for the Traders Expo in New York. If you need immediate assistance with any thing, please contact support via our Live Helper found on the home page or by calling 877.212.1112.

Thank you,
  • #1,642
  • Feb 13, 2008 9:27am Feb 13, 2008 9:27am
Just got on yesterday to the remote trader, so my trading windows have expanded greatly and is greatly appreciated. That Fxtrek charting package has become essential, the more I make trendlines and use long term charts the more insight I'm getting into the support resistance areas over the long term with the various pairs.
  • #1,643
  • Feb 13, 2008 10:27am Feb 13, 2008 10:27am
Quoting mdetlh
Just got on yesterday to the remote trader, so my trading windows have expanded greatly and is greatly appreciated. That Fxtrek charting package has become essential, the more I make trendlines and use long term charts the more insight I'm getting into the support resistance areas over the long term with the various pairs.
This is great news mdetlh - thanks for the post.
  • #1,644
  • Feb 14, 2008 6:23am Feb 14, 2008 6:23am
Justin, how many banks provide liquidity to MBT, is there a list of them somewhere? There is such information available for FXall, Currenex, Lava, Hotspot, so it shouldn't be a problem to get such an info for MBT?

Just curious.
Thanks!
  • #1,645
  • Feb 16, 2008 8:52pm Feb 16, 2008 8:52pm
Does anyone know - is EFX meeting the new capital requirements? Thank you.
  • #1,646
  • Feb 16, 2008 11:22pm Feb 16, 2008 11:22pm
Quoting Pipvalhalla
Does anyone know - is EFX meeting the new capital requirements? Thank you.
EFX is a division of MBTF, which just reported $7 million. They also seem to have some strange piece of 3DFX, which reported $9 million, but I don't think 3DFX deals with retail customers, so they don't have the same $5 million requirement. In other words, they are all clear.
FXChant Singing the World of Forex
  • #1,647
  • Feb 17, 2008 12:51am Feb 17, 2008 12:51am
Thank you. I am thinking of going with Efx, but I was just worried if they are big enough. I was with them a while ago, but didn't like the platform and sometimes it would freeze up during live trading. But I just got a demo again and it looks like it changed for the better(at least for me) and maybe they've resolved the freezing up by now. And I really like Justin so I might go back. Thanks again.
  • #1,648
  • Feb 17, 2008 1:37am Feb 17, 2008 1:37am
Justin...

What does the future hold for the 5pm and Midnight (EST) trading blackouts?
  • #1,649
  • Feb 18, 2008 8:11am Feb 18, 2008 8:11am
Quoting fxchant
EFX is a division of MBTF, which just reported $7 million. They also seem to have some strange piece of 3DFX, which reported $9 million, but I don't think 3DFX deals with retail customers, so they don't have the same $5 million requirement. In other words, they are all clear.

I think the new requirement is going to be raised to $20 mil. I know that MBT/EFX made the $5 mil hurdle, but I'm a bit worried about the $20 mil hurdle.

Maybe Justin can shed a light on this, but I'm a bit discouraged. I've been a lurker on this forum until I heard about the NFA thing. I signed up just so that I can ask about it. I've been looking for months for a broker, and just when I thought I've FINALLY found one in EFX, I hear about this $20 mil cap. Sigh...

Justin, tell me that the $20 mil won't be a problem... Please. I'd be very bummed if I have to go with anyone else. You guys seem to be one of the only honest brokers left...
Money missed is better than money lost
  • #1,650
  • Feb 18, 2008 9:32am Feb 18, 2008 9:32am
Quoting Dahlia
I think the new requirement is going to be raised to $20 mil. I know that MBT/EFX made the $5 mil hurdle, but I'm a bit worried about the $20 mil hurdle.

Maybe Justin can shed a light on this, but I'm a bit discouraged. I've been a lurker on this forum until I heard about the NFA thing. I signed up just so that I can ask about it. I've been looking for months for a broker, and just when I thought I've FINALLY found one in EFX, I hear about this $20 mil cap. Sigh...

Justin, tell me that the $20 mil won't be a problem... Please. I'd be very bummed if I have to go with anyone else. You guys seem to be one of the only honest brokers left...
Unless... EFX trades FOREX with their money mirroring the best performance accts... then they'd be set. Joking of course...

Well it's pretty drastic how the requirements are raised, more to the point... these requirements make a little more sense for dealing desks as they need to pay you out in the event some lucky trader makes a 7 figure profitl.

In the ECN world it seems to me that these requirements should be lower as people trade against the banks not the broker. So what is the risk there and why is the requirement the same?
  • #1,651
  • Feb 18, 2008 1:11pm Feb 18, 2008 1:11pm
Quoting Dahlia
I think the new requirement is going to be raised to $20 mil. I know that MBT/EFX made the $5 mil hurdle, but I'm a bit worried about the $20 mil hurdle.

Maybe Justin can shed a light on this, but I'm a bit discouraged. I've been a lurker on this forum until I heard about the NFA thing. I signed up just so that I can ask about it. I've been looking for months for a broker, and just when I thought I've FINALLY found one in EFX, I hear about this $20 mil cap. Sigh...

Justin, tell me that the $20 mil won't be a problem... Please. I'd be very bummed if I have to go with anyone else. You guys seem to be one of the only honest brokers left...
Dahlia ~

Here’s the bullet list of what happened last year:

Around 12 months ago, maybe 14, we stated that we thought the NFA might raise the minimum from $1.5 million to $5 million, although nothing was certain, and it was not going to just happen overnight. We stated that we were extremely comfortable always setting aside the funds for a net capital account to exceed the minimum that was required. At that time, we showed about $2.5 million, or about 40% above the current minimum. We also stated that, to a point, higher minimums were good for the industry as it would help keep out the “shadier” groups that were forming deal desks overnight, out to hurt the consumer. Eventually, the NFA did raise the minimum, set a date of December 21, 2007 as the effective date, and we set aside funds appropriately. As of the end of 2007 CFTC filing, we showed $7 million set aside toward the net capital calculation, which is about 40% above the new minimum (see the pattern?).

In other words, as we said all year, if a new requirement is set, we will exceed it, and our history as the requirement has been $250,000 and then $1.5 million and then $5 million, is to exceed it by about 40%. Under the old calculations, there were potential haircuts each month based on customer position sizes. Under the new calculations, there are no such haircuts. Either way, we want to set aside enough money into the specific account that is counted toward net capital under the NFA/CFTC requirement to exceed the minimum and not have to think about it monthly.

Sometimes, I don’t think people realize just how big MB Trading is. They have money set aside for deposits with banks in our system, clearing deposits on the stock side, clearing deposits on the forex side, the NFA requirement, NASD requirements, and more. Each of these is separate and secure funds. Why would they put a dime someplace that it didn’t need to be with so much going on? In fact, the biggest requirement of all of those isn’t even the NFA one!

So, what’s the new situation? There are some early stage talks that the requirement might get raised (by Congress, which is interesting) to $20 million. There are a lot of firms that AREN’T scams that could be adversely effected by such a move in this case, and I would expect to see Congress and the NFA hear both sides of the story later this year. Raising the requirement again would further push out firms that aren’t legitimate, and that would be good. However, if it had the adverse impact of knocking out a ton of Forex brokers and leaving only 5-10 of the biggest names (I won’t point out that most of those are deal desks and the NFA is a self-regulating entity…ooops, just did), I think at some point, the argument could be made that the lack of competition would be bad for the consumer. I would expect there to be a lot of arguments and analysis in the middle of this year as both sides make their cases. Then, expect a vote later in the year. If it passes, then an effective date will be set (last time, the effective date was four months or so after the item passed).

And I’ll say the same thing I did last year. IF a new requirement is passed, we feel extremely comfortable that we will set aside the funds to exceed the required minimum at that time.
  • #1,652
  • Feb 18, 2008 1:12pm Feb 18, 2008 1:12pm
Quoting phy
Justin...

What does the future hold for the 5pm and Midnight (EST) trading blackouts?
Phy ~

5 pm is the settlement period between banks. It only takes a couple of minutes and it is at a dead time of day. I wouldn’t expect this one to change much, but we don’t get many complaints about it. It’s fast, and as I said, at a dull time.

Midnight EST trading blackout is server restart. Our goal is to get this permanently under 2 minutes or so. We used to have some issues with it running longer and longer, but now it is pretty consistently down to 5 minutes or so. Our plan is to make it smaller, and we’re working on it right now.
  • #1,653
  • Feb 20, 2008 10:18am Feb 20, 2008 10:18am
Quoting jleblang
Hey Guys ~

Remote Trader is in fact available for LIVE EFX account holders.

If you would like access, please email me at [email protected] and I'll be more then happy to set up you up with a link to the platform and an archived webinar link on using Remote Trader.

Please note: I'll be out of the office Thursday & Friday, February 14th & 15th for the Traders Expo in New York. If you need immediate assistance with any thing, please contact support via our Live Helper found on the home page or by calling 877.212.1112.

Thank you,
Justin,
What about remote trader for EFX demo accounts? I see the link, but when I try to sign in, I get Communication Error.
I would really like to try your remote trader in demo env and see if I can go through some firewalls before moving my live account from MBT to EFX. I don't want to move anything if remote trader will not work through the firewalls either.

Thanks.
  • #1,654
  • Feb 20, 2008 12:42pm Feb 20, 2008 12:42pm
Quoting fiberangel
Justin,
What about remote trader for EFX demo accounts? I see the link, but when I try to sign in, I get Communication Error.
I would really like to try your remote trader in demo env and see if I can go through some firewalls before moving my live account from MBT to EFX. I don't want to move anything if remote trader will not work through the firewalls either.

Thanks.
Fiberangel ~

Demo accounts should be available about one month after we come off of the Live Public Beta.

However, I have not heard of anyone having firewall issues. I have a ton of e-mails from live users thanking us for this because they can use it behind firewalls, whereas they couldn’t with Nav.
  • #1,655
  • Feb 20, 2008 10:18pm Feb 20, 2008 10:18pm
Quoting jleblang
Fiberangel ~

Demo accounts should be available about one month after we come off of the Live Public Beta.
I can see the DEMO login is up, are we able to register a new DEMO account now? https://www.efxremotetrader.com/EFXDemo/
I would like to test the RemoteTrader and see if the connection to Asia is stable or fast enough.
  • #1,656
  • Feb 20, 2008 10:26pm Feb 20, 2008 10:26pm
Quoting fxfei
I can see the DEMO login is up, are we able to register a new DEMO account now? https://www.efxremotetrader.com/EFXDemo/
I would like to test the RemoteTrader and see if the connection to Asia is stable or fast enough.
lol look above u
  • #1,657
  • Feb 21, 2008 2:47am Feb 21, 2008 2:47am
Hi!

Just testing my Navigator Demo now. I have noticed that since today the 1/10th. pips are much more abundant and that exotic cross like USD/MXN now has liquidity all day long (not too much though).

Did any changes take place in the price feed?

tyvm!

iiivb
  • #1,658
  • Feb 22, 2008 5:36am Feb 22, 2008 5:36am
Quoting jleblang
We used to have some issues with it running longer and longer, but now it is pretty consistently down to 5 minutes or so. Our plan is to make it smaller, and we’re working on it right now.
It does seem shorter recently. I'd prefer it goes altogether, but if it were reliably 2 minutes I could stomach that. Reliably being the operative word.
  • #1,659
  • Feb 22, 2008 6:26am Feb 22, 2008 6:26am
Quoting fxchant
EFX is a division of MBTF, which just reported $7 million. They also seem to have some strange piece of 3DFX, which reported $9 million, but I don't think 3DFX deals with retail customers, so they don't have the same $5 million requirement. In other words, they are all clear.
TDFX is the Forex trading ECN. I do believe they are subject to netcap requirements though they are not servicing retail customers. Last I remember seeing, they were at 9 mio.

MB is the brokerage. They also are subject to the net cap reqs (MBTF, F= futures). MB was around 7 mio last I saw. TDFX and MB have some (but not all) of the same owners.

EFX is in introducing broker. Essentially they manage the client relationship for a cut of the comish. If EFX pulls this Remote Trader stuff off, they will be doing something innovative in the IB space by creating real value for clients to choose to allow them to manage their accounts. To my knowledge there is no co-mingling of ownership in EFX, but I'm sure Justin could tell you better than I.

So TDFX and MB both really need to make the net cap requirement if you are trading Forex with MB. EFX as an IB doesn't have such a requirement, though there are some proposals for increases on other types of requirements for IBs. I haven't read too much on those yet myself.
  • #1,660
  • Edited 6:21pm Feb 23, 2008 5:20pm | Edited 6:21pm
Hi!
I tried to install demo of MBT.
But Kaspersky Internet Security 7 found that there is a riskware in mbtnavigator.exe.
Is this a real threat ?

Found a riskware not-a-virus:RemoteAdmin.Win32.WinVNC-based.c URL: http://www.mbtrading.com/waters/MBTN...//vnchooks.dll


Found a riskware not-a-virus:RemoteAdmin.Win32.WinVNC-based.c
file: D:\MBT\MBTNavigator.exe/ATYOURSERVICE.EXE//UPX//vnchooks.dll

pjo
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