Hello Guys.. I'm just wanna share about MBT. They are ECN broker and some people claim MBT is the best broker for News trading. I've tried to trade demo account with them, and although MBT do have fast execution (1-3 sec), but their SPREAD are HUGE during NEWS time. At FOMC interest rate this 18 march'08, i got 40 pips spread for GBP/JPY. How can I gain profit with this (not mentioned the commission). Even oanda didn't have such big spread. Please share your comment and biggest spread experience with MBT (with news time, pips, pair). Thanks guys...
- #3
- Mar 28, 2008 3:17am Mar 28, 2008 3:17am
- Joined Feb 2006 | Status: Blah blah blah | 1,410 Posts
The breaking of a wave cannot explain the whole sea.
- #14
- Apr 11, 2008 5:24pm Apr 11, 2008 5:24pm
- | Membership Revoked | Joined Mar 2005 | 4,703 Posts
Boston,
Are you an IB?
, i think so, thats all he does is promote broker's he's an ib for.
If I Go Broke Trying Then I Will die happy.
My apologies to anyone who seeks them
Am I laying it on too thick for you guys? I can do nothing but good things for each and everyones trading -- there is no malice or dishonesty in any of my posts and my years in the industry have inspired me to point traders in the right direction.
My apologies to anyone who seeks them
Boston - you advertise on your website that you give rebates of 3.50 to 4.00 per standard lot. Can you do the same thing for MB Trading?
Please tell me what good an IB can do for me. Oh thats right you can give me a rebate for all of my trades. This proves that you do not do anything for a trader. Your only way of getting clients is by paying them. Does anyone else see the disconnect here? See when you provide a service to someone they usually pay you not the other way around. BTW what kind of rebate do you give for those traders you introduce to MB Trading? For all of you out there, do not go through an IB unless they truly offer you a service that impacts your trading in a postive way. Most of them dont do that. In fact when the new regs come out you will see most IB's phased out and only the ones that truly offer a great service will be left. FCM's will also start to cut out IB's as their profits dwindle as the market consolidates. For example, Boston's firm is registered with the NFA as a CTA not an IB. This means they will no longer be able to introduce business unless they register as an IB. The reason Boston's firm is a CTA and not an IB is because they can say they are properly registered (even though they are not properly registered) and because it is 40X cheaper. Not to mention a lot easier.
Boston - you advertise on your website that you give rebates of 3.50 to 4.00 per standard lot. Can you do the same thing for MB Trading?
Fxtrader42, I understand that your multiple Forex accounts equate to millions & millions of USD
but for the average retail trader who holds less than 20K, their account may not be held as highly at a clearing firms as your large accounts.Charles Schwabb advertises on billboards:
"To most people, it's a small fortune; To my broker, it's nothing"
This holds true in Forex -- for those who don't have 6-figure forex accounts and want to be treated with the respect they deserve from a firm, they have the option of using a high-quality IB with strong relationships in the industry.
A 5K account at a big firm is nothing to them -- under and IB with 5 million USD worth of clients at a firm, you now have more clout and multiple contacts to utilize when the clearing firm abuses you.
In an industry growing as fast as Forex, and with shops closing their doors left and right, I'm more comfortable keeping my account at an IB to take care of my problems through their connect at the FCM instead of calling and getting a customer service rep.
But with those huge accounts, you must be calling directly to the COO at your FCM, is that correct fxtrader42?
I'm not on here to scam anyone nor get caught up in forum BS -- I will continue to post my input, as I know to be factual, on the boards and hope that any issues are dealt via PM instead of wasting server space
You see Boston, YOU ARE NOT REGISTERED AS AN IB. If I were you I would stop posting on here as you dont have a service and you are not even a trader. Be gone.
I would really like to avoid forum drama -- but we are registered with the CFTC as an IB -- please refrain, again, from posting fallacies. Who is posting fallacies, me or you?
http://www.nfa.futures.org/basicnet/...irm&firm=NCMFX
Fxtrader42, I understand that your multiple Forex accounts equate to millions & millions of USD
Charles Schwabb advertises on billboards:
"To most people, it's a small fortune; To my broker, it's nothing"
This holds true in Forex -- for those who don't have 6-figure forex accounts and want to be treated with the respect they deserve from a firm, they have the option of using a high-quality IB with strong relationships in the industry.
A 5K account at a big firm is nothing to them -- under and IB with 5 million USD worth of clients at a firm, you now have more clout and multiple contacts to utilize when the clearing firm abuses you.
In an industry growing as fast as Forex, and with shops closing their doors left and right, I'm more comfortable keeping my account at an IB to take care of my problems through their connect at the FCM instead of calling and getting a customer service rep.
But with those huge accounts, you must be calling directly to the COO at your FCM, is that correct fxtrader42?
I'm not on here to scam anyone nor get caught up in forum BS -- I will continue to post my input, as I know to be factual, on the boards and hope that any issues are dealt via PM instead of wasting server space