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MB Trading Futures - Introduction

  • #2,241
  • Jul 8, 2008 11:44am Jul 8, 2008 11:44am
Quoting IndyTrader
Oh please. I'm not sure one of his points is correct, and I've been using them for over a year.
Agree. That Carlo from Serbia had 9 diff accounts with 8 brokers. Seems to me the guy is jumping around (if his statement is even true). I'm not defending MBT here, but every time discussion starts about slippage on MARKET orders, I want to jump in. What do you expect?????? YOU MAY BE SLIPPED, this is almost by design. You are throwing your order to the open market and whoever bites it will get you filled. Has anyone traded on CME? If you trade in the fast market on the less liquid product, you will get slipped with the market order too. As a matter of fact, I have never sent a market order for a large position on CME. In regards to platform friendliness, have you ever tried any other PRO platforms? X-Trader comes to mind. Very powerfull, but I wouldn't call it very user friendly.
  • #2,242
  • Jul 8, 2008 11:49am Jul 8, 2008 11:49am
Quoting moneylender
hi Justin

Hope you are refreshed from Holiday.

Can you comment on the fact that MB went down last Thurs just before ECB rate and was not actioning any orders for at least 45 mins! i can accept a technical failure if that's what it was, although the timing is strange, but the fact you were not answering your phones also makes me think it was
contrived!!!

As this action has long been a ploy with other less respectable brokers, it would be a shame if this is to be the future route of MB Trading.

Your comments would be welcome by many I am sure.

M
Money Lender,

It was my understanding that this issue only affected traders who attempted to login, not those that were already logged in. Could you please clarify exactly the problem was for you that evening?
  • #2,243
  • Jul 8, 2008 12:53pm Jul 8, 2008 12:53pm
Quoting phy
Cough, cough, choke....

Leverage has nothing to do with the value of one pip on a trade of one lot.


Not only that, but the leverage issue is moot. HotSpot will allow 100:1 on client request.
  • #2,244
  • Jul 8, 2008 1:16pm Jul 8, 2008 1:16pm
Quoting phy



Cough, cough, choke....

Leverage has nothing to do with the value of one pip on a trade of one lot.
Agree... leverage has nothing to do with commissions or trade size. For most traders, change in broker leverage (50:1 or 100:1 or whatever) will not effect their overall trading in any way as they can adjust their position size accordingly.
  • #2,245
  • Jul 8, 2008 5:05pm Jul 8, 2008 5:05pm
Quoting teodosy87
ok but how did you calculate 1.5 pip commission ?in`t it 0.5 or i`m wrong something ?Just ask
http://mbtrading.com/fx/commissions.asp

In this case € is today 1,5669 .

That means 15,67$ or 1,567pips.


If you trade GBP pairs you will pay much more commission:GBP/USD is now 1,9695.

19,70$ or equal 1,97pips.

Expensive - very expensive.
ForexFactory SUCKS.
  • #2,246
  • Jul 8, 2008 5:16pm Jul 8, 2008 5:16pm
Quoting htbreaker
http://mbtrading.com/fx/commissions.asp

In this case € is today 1,5669 .

That means 15,67$ or 1,567pips.


If you trade GBP pairs you will pay much more commission:GBP/USD is now 1,9695.

19,70$ or equal 1,97pips.

Expensive - very expensive.
thanks for clear this thing bro ... i see now ...
  • #2,247
  • Jul 8, 2008 5:22pm Jul 8, 2008 5:22pm
Quoting jleblang
Money Lender,

It was my understanding that this issue only affected traders who attempted to login, not those that were already logged in. Could you please clarify exactly the problem was for you that evening?
People that were already logged in lost connection as well. I know, I was one of them.

oo7_ts
  • #2,248
  • Jul 9, 2008 3:18am Jul 9, 2008 3:18am
As far as last Thurs. went, this was my experience Justin. I tried to log on around 4am EDT and could not. Was finally able to around 5 :30 am. Everything normal until right after NFP at the beginning of Trichet press conf I put in a limit order. It just sat there in the open orders box. I could not cancel it, it did not become live(even though my price was hit). After 48 min to be exact, I finally got through to someone at MBT. He said he would cancel the order for me but it hadn't been accepted b/c the servers crashed. That made me a little angry since I should have been about up+75 pips,(my order was short EUR/USD). Now since I DO believe that MBT is a real ECN, I don't think it was one of those "broker ploys". I do think however that this is a serious problem that be addressed. i would like to hear an expanation of what really happened???? Thanks.
  • #2,249
  • Jul 9, 2008 3:18am Jul 9, 2008 3:18am
justin, i was logged in, the platform would accept orders but would not action on them, even though there was plenty of liquidity.
i did even log out and start again with no improvement, this situation remained
for a good 45 minutes probably longer. Your phones were not being answered,
all in all not a good service. Fortunately my positions were going the right way, it was my intention to add to them, had they been going negative then I would not be very happy!!!

M
  • #2,250
  • Jul 9, 2008 6:47am Jul 9, 2008 6:47am
Same freezing problem today! does anyone else have the same problem? it's about 10 minutes my quote screen is disconnected
  • #2,251
  • Jul 9, 2008 7:07am Jul 9, 2008 7:07am
Quoting Beman
Same freezing problem today! does anyone else have the same problem? it's about 10 minutes my quote screen is disconnected
But i've closed my trades by phone... so not a so big problem!
  • #2,252
  • Jul 9, 2008 7:31am Jul 9, 2008 7:31am
if you have an open order you cant close it "when u click CLOSE"

so to close ur order make the opposite direction

if you buy GBPUSD and you want to close it CLICK SELL ON your mbt and it will be closed

i tested and works for me.
Charting Markets into the Future...MǎҖ€¥.
  • #2,253
  • Jul 9, 2008 10:44am Jul 9, 2008 10:44am
Any updates from MBT as to why all the technical problems the past week or so?
  • #2,254
  • Jul 9, 2008 10:54am Jul 9, 2008 10:54am
moneylender & phil008,

Granted I was out of town and wasn't here to experience the disconnect personally; here is what I gathered from the updates I received upon my return.

A few weeks ago we added a new bank into our routing algorithms and when the NFP news came out Thursday it was our first real test with this bank with such big volume in the que. When this particular bank qued orders to the level that it did, our built in mitigators or breaks that kick in to prevent unknown status of orders triggered. When something like this happens, we have to check all banks to ensure their status and reliability. We ended up pulling the one bank, but it took us some time to status all orders at banks before we could turn routing back on. Once all were checked minus the bad one, we re-enabled and the system was back to routing. The bank in question and ourselves are reviewing the logs to ensure they can handle our volume moving forward.

Certainly no "brokey ploys". Keep in mind, there are several points of connectivity, because we have so many destinations we route to and this makes for an extremely complicated machine. If we only had one point between us and the trader, then we would be a deal desk and this would be an entirely different conversation.

Hope this helps.
  • #2,255
  • Jul 9, 2008 11:07am Jul 9, 2008 11:07am
ROFL.

What a bad excuse.
ForexFactory SUCKS.
  • #2,256
  • Jul 9, 2008 11:35am Jul 9, 2008 11:35am
Hello,

Anybody having the same problem ? I am from Europe and cannot connect to forex quotes the whole day.
No reply to my E-mail to MB support yet.
  • #2,257
  • Jul 9, 2008 11:41am Jul 9, 2008 11:41am
Tschim: i just tried, quotes coming in as normal.
  • #2,258
  • Jul 9, 2008 11:59am Jul 9, 2008 11:59am
Wow... perform a real test with unreliable bank and freeze everyone's account as a result of it...

I think it is great that you are honest (I hope that is the case). Most brokers will not admit to all the shenanigans they pull, so they have a more "professional" image.

But man... you guys need to get your s@#t together!

First the fail safe power generators failed, then the unreliable banks, then there was the occasional fake quote spikes that mess with the price.

You inspire confidence by showing you care about the customer.

But technologically you do not show that you have solid disaster recovery plans in place. In fact experience shows you could not deliver on multiple occasions on that.

So now that you have admitted to fault and again we all appreciate the honesty. How do you plan to address all these?

Is there any paper that you put together outlining how to protect ourselves against any of these issues?

If you can't fix these right away is there anything we can do?
  • #2,259
  • Jul 9, 2008 12:42pm Jul 9, 2008 12:42pm
Quoting Tschim
Hello,

Anybody having the same problem ? I am from Europe and cannot connect to forex quotes the whole day.
No reply to my E-mail to MB support yet.

Yes quotes are disconnected.
ForexFactory SUCKS.
  • #2,260
  • Edited 1:01pm Jul 9, 2008 12:49pm | Edited 1:01pm
Quoting htbreaker
Yes quotes are disconnected.
Quotes are not disconnected....the internet international is a mess today and depending on which backbone your on, it might be affecting you.

**Update: We have been informed that this may be resolved in Europe...please give it another try.
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