MBT Demo Versus Live account

Read up about mbt being a true ECN broker so I thought I would try before I buy with their demo account. Studied the procedure for openening closing limits stops etc I had finally grasped their peculiarities and thought about opening a live account. I understood that their live demo accounts are trader to trader, apparently their live accounts are true ecn. So a placed a few trades to see what happened. Let me say up front, if the demo account is any reflection on the live account I would not open a live account. My first trade netted 275 pips (about right as I checked it on my live account) yet when I closed the trading platform and then re-open it showed a loss of same amount -275 pips, after that I re-opened the demo account and it showed my demo balance was zero. I thought to myself "this is very bad" as I was about to open a live account. Re-opened the platform again and now showed -275 pips. Has any other traders had this experience with mbt ?

Just wanted to add that the live account is not mbt, and I have not yet discussed this with mbt as I have had not been able to connect with the 24hr "at your service" chat area yet after many attempts.

I don't know why you have difficulty to contact them using the chat session I have used twice and It did work fine. I even tried right now and it is 5:30 am (pacific time) for them and still someone picked it up really fast. Their chat service is not 24 hours by the way but from 8:00 am to 18:00 Eastern time . When the chat is close you will have to call or write an email.

Can you post a screenshot of the order history and the open position window?

I like being able to view the market depth in MBT. Its a nice change from the bucketshop and MT4 brokers I have been working with in the past.

Hi,

Yes, I am also having problems with orders being re-opened after I closed them. This usually happens after the 5minute down time.

so far, I have been demoing for 5-7days, and it keeps on re-opening each night, every single day.

I emailed Justin, and this is his reply after my suggestion that it was because it is demo.

"It’s certainly because it’s a demo."

MBTrading Software Developers use the demo environment for their own testing. It has been explained before. Do not depend on the "results" of the demo. The demo is intended to be used for familiarization with the platform.

I used demo for a while, yes, the account balances and such become "wrong".

The live version is solid. I have had no real problems with it in the 5 months I've been using it. One column of data ( Profit in pips ) got confused, re-install cured it... My pc had other problems that probably contributed to that.

Trading is suspended from 4:58pm to approximately 5:07pm NewYork time every day (rollover).

Trading is also suspended at 11:58pm to approximately 12:07am New York time for "Daily Maintenance".

At midnight your daily activity is reset.

Thanks for your responses, I have screen shots
Before shot:
(Screen Hunter_01 Mar 13_12:06 local) taken not long after entry long au short gj you can see my targets in top corner as 0.9410 and 205.50 which were subsequently hit.
After shot (03_Mar 13 15:59 local) with balance now at 9745.48 OK so demo is a bit rough around the edges, just doesn't inspire a great deal of confidence, thats all. I am encouraged by your words phy that you have been trading a real account for 5 months without too many problems, thanks again

Mattfx ~

Thanks for the postings, I apologize for the issues your encountering with the demo, but as PHY stated and I've stated many times before on the boards, the demo is not a true reflection of the live environment.

Our developers do in fact use the demo environment for much of their testing; this allows us to try new settings, order types, servers, etc with thousands of demo user orders flowing through. This gives us an accurate picture of how these new features might react in the live environment and at the same time the opportunity for us to correct any issues we might find - without affecting our live users. Unfortunately, the result is that the demo users finds our system to be "buggy" at times, but the end result is that our live platform is up 97% of the year with little or no issues.

Thanks for your understanding.

Remember, you can always open a live account with as little as $400, and place the minimum trade size of .1 lot or 1000 currency units to test out our live platform.

I have had MB for about a year now and have nothing but good things to say about them. After the news the spread normalizes withen 5 seconds and the platform never freezes. They are hands down the best broker I have dealt with. Also all orders are anonomus so there is no stop hunting like you will have with most other brokers. Plus they have a reasonable account minimum of I think $400 or $500. If your thinking of starting a live account with them I highly recommend it. I get 25% of my comission back payed monthly. If anyone wants the info on getting 25% of your comission back you can email me at [email protected] I would post the site in the room but im not sure of the rules of posting websites and dont want to infringe on any of the rules.

You can put the link in your profile.

opie999 you can email for the link if you like.

This is the position at open (local time) after closing positions in profit last week. This is the demo account which, after much counceling apperantly does not reflect the "real account" "live account" whatever, according to MBT representatives. I just want to reintereate that I understand this is apparently no reflection of the 'real aka "live" accounts yet I can not see this as providing inspiration to open a "real", "live" etc account, please correct me if I am wrong. I welcome transparency, the truth, let me have it, in this market it is a learning experience whereby the learnered take from the gamblers, that is a fact and human behaviour is what it is. Why hide the fact that you need to eat once a day. Yet I am happy to pay fees, commissions to get accurate price and the timely info I need. As far as I can estimate without regulation this broker, much like the rest, will be there to serve gamblers, a Casino.

I have noticed a peculiar error in the demo server. I cannot enter limit orders to open a trade, only market. Anyone else experience this? It has happenede more than a few times over the course of a few weeks.

Yes, the entry and exit orders are something else on the demo. As I said earlier I believe the orders are 100% reciprocal, thats is demo trader to demo trader, so as I see these peculiarities, it is not possible to actually bank any profit position, on the demo account, for all profit trades are closed via an opposite position, which, if not filled, appears in your demo account. Does this appear as plausable ?

I see many people talking about MB that have demo and I have the answer. On the demo, is where MB trys ALL there new ideas to make the platform better. This causes glitching, weird orders flow, missed stop/take profits, ect ect....But I have had MB live for about 7 months I think maybe longer and only once in that time has MB ever gone down, and that was because of a brown out in Cali and they had to switch to back-up generators. All I can say is if you have live MBT you will not have problems with the platform, it just dosen't happen...ever. In addition to that they have pretty good, not the best customer service. Everytime my internet was down and needed to get out of a trade they would do it for no additional cost. All said in my humble opinion of course.

-Sterling Suhr

I am demo trading with MBT and I noticed they charge spreads + commissions + interest premiums as soon as you make a trade. When all adding up, would the costs still be about the same as retail brokers if not more? Any comments on this?

http://forexfactory.com/showthread.p...05#post1913405

A major problem of the demo account is that the spikes appear everywhere, makes the testing very difficult.