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  • #1,821
  • Mar 18, 2008 7:34am Mar 18, 2008 7:34am
Quoting Jurrasic
Hmm... but it's written they have 1/10 spread on all pairs. Just opened a demo - looks far from a pip plus constantly changing... Not for my small trades system..

Please, Look at it carefully that is not exactly what is written.

It is written "Spread as low as 1/10 pip"
  • #1,822
  • Mar 18, 2008 11:52am Mar 18, 2008 11:52am
Quoting lucidlamp
Hi jleblang,

On my current MT4 broker I am restricted to placing pending orders at a minimum of spread plus one pip away from my requested open (entry) price, is this the case with MBTrading? and if so can you explain, specifically, how MBTrading handles this?

Regards,
lucidlamp
Hi lucidlamp ~

MB has no mimimum pip requirements on stops or limits, even allowing clients to place limits between the spread to become the best bid or offer.
  • #1,823
  • Mar 18, 2008 12:52pm Mar 18, 2008 12:52pm
Justin,

I appreciate your lengthy reply to my last post. Your effort is surely noted. However, I do have some more questions regarding your reply. I dont have enough time as of right now to reply to your post because of all of the information you provided but I will post my reply soon. But I did want to thank you for taking the time to reply and I want to make sure I have a chance to go over everything before I submit my reply.

All the best.
  • #1,824
  • Edited 3:51pm Mar 18, 2008 12:52pm | Edited 3:51pm
After the postings about the unusually wide spreads Sunday/Monday, here is a snapshot of instant and average spreads over the last hour or so, Monday afternoon, 1:45pm New York time...

Columns are GMT time, Overall tick count, pair name, bid on this thick, spread on this tick, average spread over the duration of the collection.

There are some negative spreads shown on GBPJPY.
Attached Image (click to enlarge)
Click to Enlarge Name: mbt-spread3.PNG Size: 117 KB
  • #1,825
  • Mar 19, 2008 8:54am Mar 19, 2008 8:54am
Justin:

I just signed up for the demo last night, trying to answer all the questions on my own. But, how close is the Navigator demo to the live platform in terms of the spread, execution, etc.? This may have been answered before I'm sure. I'm with an MT4 broker right now but I like what I see with EFX. IF it comes down to it I would have to run the MT4 for charts (and custom script alerts) and trade through EFX, it might be a little busy but if it's what I have to do then it's what I have to do. I think I saw in the thread somewhere that there is an MT4 broker that has the quotes similar to the EFX quote, not sure...

Thanks for all the support to date.
  • #1,826
  • Edited 11:21am Mar 19, 2008 11:03am | Edited 11:21am
I am posting it here because I feel there are a lot of good traders or active traders that view this thread constantly. After looking at the fundamentals and technicals it is my humble opinion the you can say good bye to the EUR. In the next week or two I believe the EURUSD rate will be working on breaking 1.50 and in a month from now we could see it back to 1.45 -1.46. With the US economy starting to show signs of hitting rock bottom (housing still has to go lower) will now start to have a major affect on Europe. Somone please tell me how the ECB can keep interest rates unchanged and continue to compete with the United States? This is just my projection... I look forward to hearing anyone elses views.

All the best
  • #1,827
  • Mar 19, 2008 11:43am Mar 19, 2008 11:43am
Quoting fxtrader42
I am posting it here because I feel there are a lot of good traders or active traders that view this thread constantly. After looking at the fundamentals and technicals it is my humble opinion the you can say good bye to the EUR. In the next week or two I believe the EURUSD rate will be working on breaking 1.50 and in a month from now we could see it back to 1.45 -1.46. With the US economy starting to show signs of hitting rock bottom (housing still has to go lower) will now start to have a major affect on Europe. Somone please tell me how the ECB can keep interest rates unchanged and continue to compete with the United States? This is just my projection... I look forward to hearing anyone elses views.

All the best
This is off the topic, but I tend to agree with you. I've been holding short eurusd for a while now and added some more at the recent highs. It will not drop much lower overnight, but I believe that within a month we will see ~1.50. Just watch what will happen once it breaks 1.56 level. My logic is NOT based on any technical analysis, but rather fundamental/common sense reasoning.
  • #1,828
  • Mar 19, 2008 2:01pm Mar 19, 2008 2:01pm
I have deleted my original questions to cut down on the size of this post. So you might need to scroll back to the original conversation to follow the complete conversation.

>>There are a few answers to this question, but the most important is this. TDFX is unique compared to all of the other firms that say they are ECN’s. In fact, the transparency of TDFX is completely unbiased, where the others that match what you have mentioned have some degree of bias. What bias do they have that TDFX or MB doesnt have? TDFX uses its own credit to go to liquidity pools to create a montage of bids and offers for a quote. No destination is a “client” of the ECN like they are with the companies you mention. There are no “requotes” or “minimum spreads,” which some of the other alleged non-dealing desk platforms maintain. Think about that. How can there be a minimum between a bid and ask in a truly competitive pricing market? I agree with you on this one, if there is a minimum spread, then traders are certainly limited in the way they can trade in the market via their broker or market maker. Who is making that minimum or benefitting from it? I think this is quite obvious; the banks, the market makers and brokers can all benefit depending on the situation. However, this leads me to one of my biggest beefs with MBT. You guys charge so much more in commissions and swaps then some of the other ECN models so you limit your traders in that way. You have said that MB can cut deals for traders who do high volumes or have a large accounts. If this is the case why aren't there any details about this on the website? I talked to someone at MB about this and they told me something completely different but maybe they thought I was lieing about the size of the account that I was looking to trade with them. I think this truly limits your exposure to bigger clients. I mean if I want to manage 10 or 20 bucks at MB how much wiggle room do I have with commissions and can I get better swap rates? Also, if you are willing to offer me a deal why shouldn't other clients know what kind of deals you are willing to offer for bigger clients. I would expect that there should be some transparency there. Obviously the company might want to give better deals to existing clients then they would for some other and that is certainly reasonable and should remain behind closed doors. But how about a starting point for certain levels. That’s what full transparency means, not having someone have that sort of control over the market. One mistake that people make is in assuming that MBT is the executor of the trade. We are not. TDFX handles the execution. It would be wrong for us to state that we have “Banks X, Y, and Z” in the mix as we don’t. We route all orders directly to TDFX. TDFX maintains a true market of quotes from a multitude of banks. They make a market; we display their market and get a fill for the customer based on the type of order that they send through us. Just like in the stock market of the past, other brokers could also route their customer orders to TDFX and tap into the net liquidity of the ECN, including customer limit orders, which are displayed anonymously. In other words, if you have a limit order, we know your account here and send an order to the ECN. The ECN doesn’t know who you are, your account number, nothing. It’s just an order to be filled. That’s why traders want to use us for transparency and privacy. Justin, I understand your point here. One thing comes to mind though and that is all of the MB principals listed on the NFA webpage are listed as principals with TDFX as well. Also, it states that MB or MB's holding company owns more then 10% of TDFX. So what you are saying about TDFX not knowing who the client is might be true but there will always be some doubt as to what is ture and what isnt. I hope you can understand that and I am certainly not trying to call you a liar. My only point about transparency is more so in such that I would like to know where TDFX gets their liquidity. I dont care if they show me which liquidity provider is the counterparty to my trade. However, as a client it would give me an idea as to how deep your liquidity is and how well connected TDFX is. To be honest I have traded with ECN's that show market depth and execute me differently then what their depth actually shows. I no longer do business with those companies. Those companies also refused to tell me how they derived their liquidity. I am tired of hearing we work with 5 or 6 of the top banks. I may be more concerned with this then others but it only because of experience. The system that matches the trades has no knowledge of which customer is which order, whether they are opening or closing a position, whether they win or lose 80% of their trades. All orders are treated equally. With all due respect, how can our routing methodologies or transparency be questioned when you post a quote you immediately see it, if you trade against the quote both parties immediately get a fill? Can you get that anywhere else? Can you explain what you mean by this a little more not sure I am following you?(highlighted in red)

>>That’s why we show the size that is compiled at TDFX in our Level 2 I assume you mean your market depth as level 2 shows who the client is, there bid or offer and contract size. , and based on the fills we get, you can assume that there is plenty more size than what the banks show. In other words, the size you are seeing is a MINIMUM and could actually be much greater, but not smaller. Many times a bank will show 500 lots and fill a 1000 lot order or more. Justin, I am not sure I follow you once again. I am looking at one of the largest banks platform right now and they show me their market depth similar to ECN's. For example, I can do up to 7M offer on EURUSD at 1.5640, I can do 13M at 1.56415 and so on all the way up to 100M. I can also RFQ and I can also make a phone trade where they can try and work an order for me. The reason I am looking for an ECN model is so I can access more then one bank's liquidity. Also, looking to manage some money without having to go through the hastle of setting up a fund. But most of all I am always searching for the best price for my trades. Large and long term trades in my opinion are always better with the banks.And that’s just one bank out of several at any price. Plus, what we like about TDFX is that they have enticed their banks to display liquidity at sub-pip increments, so now our customers are getting terrific fills at prices that weren’t available before. Justin, banks show subpip pricing on their own, not sure how many do but I know of a few. However, my beef with the banks is this they will show subpip pricing but the actual spread rarely gets to a half pip. Therefore a broker using multiple banks can offer a half pip if everything lines up. Instead of just seeing 5000 lots on the bid at 1.5500 and 5000 lots on the ask at 1.5501 on the EURUSD, you might see 1000 lots on each side down to the tenth of a pip. That means that the same liquidity is now available at better net pricing for customers. So yes, I think it is very important to show depth of liquidity via the Level 2 Again to my knowledge you cannot have level 2 or something close to it if you cant see who is buying and selling and for how much. Correct me if I am wrong. As for which banks are actually each order…banks want privacy too. Why would Bank A want the market to see that they are constantly on the sell side of the EURUSD? I dont buy that; banks are market makers they always list a price at which they are willing to sell and buy. I am sure banks want privacy but I think the privacy they want has more to do with how they manage their risk and their proprietary positions in the market. Banks have so much more to do then care about what the retail market thinks about their pricing. They just want flow, which allows them to pip trades and allows them to offset the many different exposures they have to a multitude of different products that have exchange rate risk. Banks might favor the sell side of EUR but they will still allow clients to sell which would put them on the buy side. They would then offset that trade with another counterparty if they didnt want the long position. As I’ve already stated, the privacy and liquidity goes both ways. That’s what draws tens of thousands of customers to our platform, which only makes the liquidity on the ECN better. The judgment of the ECN is size and liquidity, which is judged by the fills and pricing that you get trading. It isn’t about which banks are doing the buying and selling at any moment, just like it shouldn’t be about the banks knowing who you are. Well considering MB is a broker the banks would never know who MB's clients are because client orders would get sent to the bank via the broker. This has always been the role of a broker. There are two reasons why brokers exist. One is to bring buyers and sellers together to try and get the best price for their clients for a fee. The other reason is brokers allow their clients to fly under the the market makers and other market participants radar. However, depending on the commission the broker charges and the price they get you it can be cheaper to go directly to the market maker. This is the main reason why I am looking at ECN brokers. I am certainly not big enough for any market participant to care about which way I am going in the market.



>>This has been covered many times on these boards, and Trader KGB just gave you some examples in his response above. We shut down once to calculate commissions and fees so the proper bookkeeping can be done for tens of thousands of accounts. It is necessary in the Interbank market to have a “settlement point” with the banks since it is a 24 hour market. Then we shut down a second time at midnight because unlike all of our competitors except for one (that we’re aware of) we trade Equites, Options, Futures from a single login or account. As such we need to upload and process our clearing files for the other part of the firm. Plain and simple, we thought the few minutes of maintenance was worth the benefit of trading almost every single asset class from one desktop through one broker. Does the platform go completely offline so clients cant see quotes or does the platform not allow a client to place a trade but they can still view the market?

>>I would think that our tight spreads, low fees, and the ability to bid/offer with 15 order types has not made us look all that bad. We have grown from 0 to tens of thousands of clients worldwide. The proof is in the results, and obviously, an awful lot of traders seem to think we’re on the right path, despite repeated discussions on these boards by people trying to suggest that we are something else. Trading with us pretty much speaks for itself.

>>Final note in regard to fees. Keep in mind that we were the ones that started this whole Forex ECN model several years ago, and we had to fight the battle of everyone telling us that it couldn’t be done. We know that our cost to do all the above was higher then bucketing trades like our competitors. First of all, I congratulate MB for sticking to something that others thought could not be done and I wish both you and the company the best of luck moving forward. I think MB and companies like yours have certainly found a niche in the market. I think ECN's biggest advantage in the spot fx market is bringing buyers/sellers together, with the idea of trying to find them the best price in the market for a fee. This is the role of any broker, where the broker has many relationships with market makers and therefore clients have the ability to do things they cant with only one source of liquidity. To do this effectively, your clients need to trust that MB is doing exactly what the business model says it will; which is trying to find the best prices in the market.(one of the ways brokers gain this trust is by listing their partners or liquidity providers, the more you have the better you look) If a broker buckets trades then there is huge conflict of interest in carrying out their business model. However, without market makers being able to bucket trades their would be a far less efficient market. If market makers couldnt bucket trades it would be much harder to find someone to take the opposite side of the trade when everyone is buying and no one wants to sell. Market makers play a very important role in every market. We make less per trade because we’re unbiased, and the cost of developing systems like this is astronomical. To make more money we had to have a system that worked and revolutionized the industry. It does and we did! Just like with any maturing, commoditized business you will see our prices start coming down as costs fall due to volumes increasing. A little at first then it should pick up speed. Basic economics. I certainly understand basic economics and I certainly hope that your costs become more competitive or more transparent for larger clients.[/quote]
  • #1,829
  • Mar 19, 2008 3:47pm Mar 19, 2008 3:47pm
Quoting Palmer
Justin:

I just signed up for the demo last night, trying to answer all the questions on my own. But, how close is the Navigator demo to the live platform in terms of the spread, execution, etc.? This may have been answered before I'm sure. I'm with an MT4 broker right now but I like what I see with EFX. IF it comes down to it I would have to run the MT4 for charts (and custom script alerts) and trade through EFX, it might be a little busy but if it's what I have to do then it's what I have to do. I think I saw in the thread somewhere that there is an MT4 broker that has the quotes similar to the EFX quote, not sure...

Thanks for all the support to date.
Hi Palmer ~

The demo and live platform share the same functionality – meaning; order types, layout and customization. They also have the same quotes, but not execution since the demo orders bounce off multiple demo servers and don’t interact with other customers on the system or our liquidity providers. We also use the demo environment to test out new features; while this allows us to see how these new features will respond to thousands of demo orders, it at times will make the demo unstable. The benefit though is we’re able to move those features over to the live platform without interrupting our live clients – another reason why you’ll hear so frequently that the live platform is so much better then the demo.

I’ve said this before – when traders are seriously considering a broker, they should deposit the minimum amount with them and test out their live platform, it’s the only way to truly know what you’re getting.
  • #1,830
  • Mar 19, 2008 4:39pm Mar 19, 2008 4:39pm
Fxtrader42-

I’ll review this again later as it seems like most of this is rehashed information that we have already discussed on these boards in the past and I think you could already find most of the answers. I also, based on some of the comments, suggest that you do exactly that. But, let me reply to a few of your comments:

>> I assume you mean your market depth as level 2 shows who the client is, there bid or offer and contract size.

It shows bid and offer prices and cumulative size of all entities at that price. If it showed who the buyer or seller was, that would take away their privacy, which is the main purpose of a true ECN. The bank isn’t supposed to know who the customer is or whether the customer is opening or closing their position. Equally, the customer isn’t supposed to be able to see which banks are lining up to buy or sell the EURUSD. It’s a COMPLETELY NEUTRAL setting. That is the whole point. If you are on our e-mail list, you should have received an invite for a webinar next Tuesday at 8 pm EST/5 pm PST where Chris Mercer will be going over how ECN executions work. E-mail me for details if you didn’t get it.

>> However, as a client it would give me an idea as to how deep your liquidity is.

I don’t really know what else to say to you here. If you are a trader trading $50 million at a pop, you understand that in a real market, it depends how stable prices are at the time. If you trade on news, then maybe, maybe not. If you trade the rest of the time, then it’s very possible. The only answer for someone trading that kind of size is, get out there and do it and see if our system handles your size. If it doesn’t try somewhere else, but I haven’t exactly seen a lot of big traders leaving here. Again, until you are constantly hitting those levels or higher and expecting to get filled on the pip, it’s just not a conversation with this many banks, and obviously everyone trading with us gets that.

>> With all due respect, how can our routing methodologies or transparency be questioned when you post a quote you immediately see it, if you trade against the quote both parties immediately get a fill? Can you get that anywhere else?Can you explain what you mean by this a little more not sure I am following you?

You started out this conversation by suggesting that we had an A book and a B book, which isn’t even possible on our system if you just think about it. If the EURUSD is 1.5500 by 1.5501 and you place an order to buy ANY size between them at 1.55005, your order pops up immediately for the whole world to see. It sees the bid at 1.55005 and the size of your order, and they can hit it. How could we be running two books if that happens for every customer? And with all of the scrutiny, don’t you think that if one customer ever placed an order and it didn’t appear, they would have posted it here? We have the most transparent system available for traders, and the basis of the system is routing and privacy. No parties should know each other, and everyone should see sizes equally as much as the participants want to display their sizes. By the way, as a sidenote, on our system, you could use an order type to display only part of your size, so if you were really looking to buy $50,000,000 at 1.55005 but you only wanted to show $10,000,000, the system will do that for you. As people hit your bid, the size displayed refreshes, and this occurs because we want you to have that flexibility. So between the banks and the customers, there can always be more size – often MUCH more size – than what you see.

>> You have said that MB can cut deals for traders who do high volumes or have a large accounts. If this is the case why aren't there any details about this on the website? I talked to someone at MB about this and they told me something completely different but maybe they thought I was lieing about the size of the account that I was looking to trade with them. I think this truly limits your exposure to bigger clients.

First of all, just e-mail me. We’ve posted this before. I’ll say it here. Rates go to $40 per million at $500 million in monthly volume. They go to $35 per million at a billion in monthly volume. It goes lower. Any of our sales reps will give you the same numbers, so I have no idea who you talked to, but look no further than me. Call me. But it has to be understood that we don’t put anyone on those rates until the volume is done. For the first three months, you get rebated down to those rates if you do the volume. I don’t just take someone’s word that they are going to do $10 billion in volume in a month. Tell us what you’ll do, we’ll tell you what the rate would be if you did it, and then do the volume and get the price. And after a few months of establishing a pattern, we just set you at that rate. This strange idea that we’re limited to bigger clients…I don’t think you realize how many people are opening up accounts with us right now that are very sizable. People with big money are extremely astute. They’ve learned that if you have a deal desk, it’s a license to steal THEIR MONEY. Their hard earned money. What do you think they think of a platform that never requotes, has tons of liquidity, has a huge array of order types, keeps their identity, positions, and intentions private, and let’s them display themselves to the market on their terms? Where else do you find that? If you accept all of those pieces except you don’t know how big of size we can handle, then either give us a call and tell us exactly the size you plan to do and we’ll show you examples, or do what most of these guys do…start trading and move your size up week after week and see that the fills are what you expect.

I really have a better question. Why would you take my word for it anyway? If a deal desk said, “Oh, I promise you’ll never get slipped,” you wouldn’t believe them (if you were smart). If I said, “Oh, you can get filled for $100 million every time,” why would you believe me? The proof is in the execution, and the only way to find out is to do it.
  • #1,831
  • Mar 19, 2008 5:14pm Mar 19, 2008 5:14pm
most ecn broker start out with much smaller comm then mb trading more then half of what you guys charge and if i was doing those monthly volume i can get a much better deal elsewhere then what you charge for doing the same amount of volume, in fact what you charge for 500mill a month volume i can get elsewehere just starting out without doing 500mill a month. come again
If I Go Broke Trying Then I Will die happy.
  • #1,832
  • Mar 19, 2008 5:24pm Mar 19, 2008 5:24pm
i think mb trading knows most retail traders want to trade with a ecn where there trades don't get mess with and at the same time don't have to put up the large sum of money most ecn broker require, so there making you pay for that service. overcharging/ flat out greed.
If I Go Broke Trying Then I Will die happy.
  • #1,833
  • Mar 19, 2008 5:29pm Mar 19, 2008 5:29pm
Quoting Moe
i think mb trading knows most retail traders want to trade with a ecn where there trades don't get mess with and at the same time don't have to put up the large sum of money most ecn broker require, so there making you pay for that service. overcharging/ flat out greed.
You can keep saying that, but I would challenge whether any of those are true ECNs versus just a platform passing an order through to a banking partner off-site. The reason that we know that is because we know what the banks charge in clearing costs if you don’t have a exclusive with them to show them all of your orders. And the costs would be too high for anyone to stay in business charging those commissions but paying the clearing costs.
  • #1,834
  • Mar 19, 2008 6:10pm Mar 19, 2008 6:10pm
* MB invented the FX ecn concept
* MB was the first FX ecn
* MB is the only true FX ecn
* Brokers who chargle less commissions than MB cannot be ECNs and are evil dealdesks

I got that about right?
  • #1,835
  • Mar 19, 2008 6:16pm Mar 19, 2008 6:16pm
Quoting jleblang
You can keep saying that, but I would challenge whether any of those are true ECNs versus just a platform passing an order through to a banking partner off-site. The reason that we know that is because we know what the banks charge in clearing costs if you don’t have a exclusive with them to show them all of your orders. And the costs would be too high for anyone to stay in business charging those commissions but paying the clearing costs.
so i guess interactive brokes, hotspotfx, Dukascopy and brokers who offer currenex, fxall, ebs, lava fx, baxter fx and cax are not true ecn. only you guys are the real deal,
If I Go Broke Trying Then I Will die happy.
  • #1,836
  • Mar 19, 2008 6:26pm Mar 19, 2008 6:26pm
Justin,

Your answers have helped with quite a few of my questions. MB is on my list of companies to test. However, I dont think I will be ready to test MB for another few months. I have about three other companies that I want to test first. I usually test a company for a month and then I test another and another. I would like to make a decision by the this summer or by the end of the year. I am in no rush, plus I am hoping that this farm bill will get signed soon so I can have a better idea as to how this market will be regulated moving forward.

I certainly dont take anyone's word as to what trading live will be like with my live account without testing them. Also, I dont want MB to grant me a better rate without me fulfilling my end of the bargain. However, I would want it to be written in the agreement.

I have to be honest with you $35/M for a billion in monthly volume is not that great of a rate. However, I will leave it to the fact that you get what you pay for and if MB is that much better then the competition then I would think seriously about doing business with MB.

>> I assume you mean your market depth as level 2 shows who the client is, there bid or offer and contract size.

It shows bid and offer prices and cumulative size of all entities at that price. If it showed who the buyer or seller was, that would take away their privacy, which is the main purpose of a true ECN.

>>> With regards to level 2 quotes. I was just trying to highlight the fact that you dont offer level 2 quotes. Maybe that is how you are referring to what is market depth but level 2 quotes show who is buying, selling at what price, and how many shares. Someone can correct me if I am wrong but I believe the NASDAQ is the only place where level 2 quotes exist. Again, correct me if I am wrong but level 2 quotes by definition show who is buying and who is selling. Again correct me if I am wrong but if a trader trades through an ECN then the ECN is indicated on the NASDAQ as being the participant and not the trader. I am only bringing this up because when you say level 2, to me that means I can identify either the bank or the client. So unless you disagree I would refrain from saying MB offers level 2 quotes.

Last thing, you said traders and banks have a neutral trading enviornment. This is great and it is how most ECN's that I know of do business. That means when your trading, clients dont know who is who. Client A doesnt know if his trade has been matched by Client B or Bank 1 or Bank 2. The only thing that I wanted to know is which banks, market makers or other ECN's add to TDFX's liquidity. However, it sounds like one of your biggest competitors (for my business anyway) would be hotspot fxi. They offer a list of all of their participating financial institutions. This gives me a real idea as to how deep the liquidity is on their platform. Is there a reason TDFX doesn't do the same? They have the same neutral trading enviornment that you have explained. Like I said, MB and some other ECN's have found a very nice niche in this market and I think a lot of traders enjoy that business model.
  • #1,837
  • Mar 19, 2008 6:32pm Mar 19, 2008 6:32pm
if im reading you right justin they charge less commission because they have a direct relationship with those banks, why don't you guys do the same, sounds like they made a better deal and they are able to pass that on to there costumers with lower commission. and can't forget those high ass swap rates you guys charge and pay little in return.
If I Go Broke Trying Then I Will die happy.
  • #1,838
  • Mar 19, 2008 6:38pm Mar 19, 2008 6:38pm
Quoting jleblang
You can keep saying that, but I would challenge whether any of those are true ECNs versus just a platform passing an order through to a banking partner off-site. The reason that we know that is because we know what the banks charge in clearing costs if you don’t have a exclusive with them to show them all of your orders. And the costs would be too high for anyone to stay in business charging those commissions but paying the clearing costs.
Justin,

I am not sure what you mean? If you have a good relationship with your banks you should be getting rates of about $10/$12 per million. Every bank is different and it all depends on volume. I mean I cant imagine TDFX having to pay more then $15 per M. You might want to try pitching something like we are more expensive because the execution is quicker and our technology is better therefore its more expensive. However, you are going to have to prove that. If I am paying for a BMW it better drive like a BMW and not a T-Bird.

It sounds like MB is certainly more expensive so can anyone who uses or used MB tell us why it worth paying more for them instead of their competition?
  • #1,839
  • Mar 19, 2008 6:40pm Mar 19, 2008 6:40pm
are you truly on the customer side or looking out for ones intrest.
If I Go Broke Trying Then I Will die happy.
  • #1,840
  • Mar 19, 2008 6:53pm Mar 19, 2008 6:53pm
don't mean to be hard on mb trading they just acting like there the best ecn dealer in town and i know thats not true, in fact they are the most expensive ecn dealer in town.
If I Go Broke Trying Then I Will die happy.
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