How to get lower MBT trading commissions | Forex Factory

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How to get lower MBT trading commissions

  • #1
  • First Post: Jul 18, 2008 12:38am Jul 18, 2008 12:38am
Ok i talk with support and ask thiss question it`s look like if you trade big let say you trade with 1/5 mil units you could get $3 commisions this mean you get something like %45 decrease of commissions.Other way is if you increase your trading volume not just one moenth and stop if you increase your trading volume smooth you could also get lower commissins not as low as $3 but you could get lower commissions.I do want to share this info with you because i`m sure it will be goo info for all of us.Wish you good trading
  • #2
  • Jul 18, 2008 6:15am Jul 18, 2008 6:15am
Apparently they start talking when you do 500+ mio per month. But what good is it when their lowest commission level is where the competition has their standard commission ($30)?
  • #3
  • Jul 18, 2008 7:00am Jul 18, 2008 7:00am
Quoting shrike
Apparently they start talking when you do 500+ mio per month. But what good is it when their lowest commission level is where the competition has their standard commission ($30)?
do not know what to say just want to help with some info .. yes their commsions are hing but if you want trade with ecn and you have small amout of money they are the only way ....if you have lot of money just go with ducascopy i probably would go with them if i have 50k to invest ..
  • #4
  • Jul 18, 2008 7:11am Jul 18, 2008 7:11am
Quoting teodosy87
Ok i talk with support and ask thiss question it`s look like if you trade big let say you trade with 1/5 mil units you could get $3 commisions this mean you get something like %45 decrease of commissions.Other way is if you increase your trading volume not just one moenth and stop if you increase your trading volume smooth you could also get lower commissins not as low as $3 but you could get lower commissions.I do want to share this info with you because i`m sure it will be goo info for all of us.Wish you good trading
please CMIIW,
1/5 mil compounded? or is it one trade at a time need to be 1/5mil
and is it 1/5 mil = 200,000 ==2 Lot? (because if 1 divided by 5 is 0.2)

so sorry for such a silly question, but i'm intrigued..
-1128 Pips since 6 August 2007
  • #5
  • Jul 18, 2008 7:21am Jul 18, 2008 7:21am
Quoting teodosy87
do not know what to say just want to help with some info .. yes their commsions are hing but if you want trade with ecn and you have small amout of money they are the only way ....if you have lot of money just go with ducascopy i probably would go with them if i have 50k to invest ..
I agree but right now I hesitate to go with Dukascopy because they are not regulated, they have a great reputation but no regulation and my money is in a different country....hmmmmmmmmmm any thoughts
  • #6
  • Jul 18, 2008 8:42am Jul 18, 2008 8:42am
Quoting fxRichard
I agree but right now I hesitate to go with Dukascopy because they are not regulated, they have a great reputation but no regulation and my money is in a different country....hmmmmmmmmmm any thoughts
yea but they are also in a bank where are safe and ... if something happened with comapny you will be good.Also i do not know other broker that do this except IB they insure your money ....
  • #7
  • Jul 18, 2008 8:43am Jul 18, 2008 8:43am
Quoting yohan_ip
please CMIIW,
1/5 mil compounded? or is it one trade at a time need to be 1/5mil
and is it 1/5 mil = 200,000 ==2 Lot? (because if 1 divided by 5 is 0.2)

so sorry for such a silly question, but i'm intrigued..
no i blieve 1/5 mil is equal to $5,000
  • #8
  • Jul 18, 2008 9:00am Jul 18, 2008 9:00am
With 7500$ you can start with Hotspot an you will pay 6$ roundturn (1 Lot) each pair.

Why do you waste time with MBT?
ForexFactory SUCKS.
  • #9
  • Jul 18, 2008 9:18am Jul 18, 2008 9:18am
Quoting teodosy87
yea but they are also in a bank where are safe and ... if something happened with comapny you will be good.Also i do not know other broker that do this except IB they insure your money ....

Please tell me where Dukascopy states that if they go bankrupt, your money is insured. Also, FX accounts at IB are no safer then accounts with other FX brokers. IB has securites account protection via SIPC like all broker dealers.

Here are a couple of links that are worth looking at:
http://individuals.interactivebroker...?ib_entity=llc

http://www.rcgdirect.com/CustProtection.aspx

http://www.mymoneyblog.com/archives/...insurance.html

Please do tell me where Duka guarantee's funds. I do not believe that they do.
  • #10
  • Jul 18, 2008 9:28am Jul 18, 2008 9:28am
Actually I have been doing some research this morning. Through Dukas you can open a Swiss bank account and use a custodian service with Dukas where your money is held in the Swiss bank account and Dukas deposits your P&L every day so they are not holding your money. This is very appealing!
  • #11
  • Jul 18, 2008 9:39am Jul 18, 2008 9:39am
Quoting htbreaker
With 7500$ you can start with Hotspot an you will pay 6$ roundturn (1 Lot) each pair.

Why do you waste time with MBT?
It appears Hotspot USA has recently updated their page. It now says $3 Per USD 100k (not $3 per base currency unit, like before), which seems to be the same as at Hotspot Europe now.

Mini-trading seems to be cheaper at the Hotspot EU now, since the USA branch charges a flat fee of $3 for all transactions below 100k.

http://www.hotspotfx.com/openacct/faq/
  • #12
  • Jul 18, 2008 9:39am Jul 18, 2008 9:39am
Quoting fxRichard
Actually I have been doing some research this morning. Through Dukas you can open a Swiss bank account and use a custodian service with Dukas where your money is held in the Swiss bank account and Dukas deposits your P&L every day so they are not holding your money. This is very appealing!
not sure if that applies to entry level accounts...

http://www.dukascopy.com/swiss/engli...nding_trading/

(note: i didn't take time to make sense of this chart)
  • #13
  • Jul 18, 2008 10:06am Jul 18, 2008 10:06am
Quoting ycomp
not sure if that applies to entry level accounts...

http://www.dukascopy.com/swiss/engli...nding_trading/

(note: i didn't take time to make sense of this chart)
no it does require 250k.
  • #14
  • Jul 18, 2008 10:10am Jul 18, 2008 10:10am
Quoting ycomp
not sure if that applies to entry level accounts...

http://www.dukascopy.com/swiss/engli...nding_trading/

(note: i didn't take time to make sense of this chart)
No it does not. If your account deposit is under 250K your deposits sit with Duka and there is no guarantee. Over 250K you can do a bank guarantee. I am not sure how this works with Duka but I imagine you have to deposit a certain amount with them, like 100K and then your bank would need to guarantee the other 150K. If your over 50M they will offer you a credit line through which ever bank you decide to PB with. Meaning Duka will give up all trades to your PB and net your positions at the end of the day. However, I dont know why anyone with 50M would choose Duka. You could do the same with EBS, FXAll, RTFX, Bloomberg or many others that in my opinion have deeper liquidity then what Duka can offer. Plus it would most likely be cheaper.
  • #15
  • Jul 18, 2008 11:22am Jul 18, 2008 11:22am
Quoting fxtrader42
Also, FX accounts at IB are no safer then accounts with other FX brokers. IB has securites account protection via SIPC like all broker dealers.

http://individuals.interactivebroker...?ib_entity=llc
I believe he meant to say "are safer", not "are no safer". As the link shows, they offer some of the best retail protection around.
  • #16
  • Jul 18, 2008 11:26am Jul 18, 2008 11:26am
Quoting shrike
It appears Hotspot USA has recently updated their page. It now says $3 Per USD 100k (not $3 per base currency unit, like before), which seems to be the same as at Hotspot Europe now.
That's unfortunate, they were the only notional-based commission retail ECN, and it was certainly a great rate for GBP pairs. In any event, $30/M is still much better than $50/M.
  • #17
  • Jul 20, 2008 12:06am Jul 20, 2008 12:06am
Anybody here using IB ever experience the following issues?

http://www.elitetrader.com/vb/showth...l&pagenumber=1
  • #18
  • Jul 20, 2008 12:27am Jul 20, 2008 12:27am
Quoting fxterrapin
Anybody here using IB ever experience the following issues?

http://www.elitetrader.com/vb/showth...l&pagenumber=1
Hey there buddy! Yes I do have those issues occasionally, though keeping the quotes running 24/5 means no need for backfills.
  • #19
  • Jul 20, 2008 3:08am Jul 20, 2008 3:08am
Quoting Trader KGB
Hey there buddy! Yes I do have those issues occasionally, though keeping the quotes running 24/5 means no need for backfills.
Howdy, my friend!
  • #20
  • Jul 21, 2008 10:02am Jul 21, 2008 10:02am
Quoting Trader KGB
I believe he meant to say "are safer", not "are no safer". As the link shows, they offer some of the best retail protection around.
That is correct, they are safer then other brokers. A forex account or all of your forex accounts with IB are protected up to 1M per customer. Meaning if you have 5 accounts and you have a million in each account, only 1M of your total 5M is protected. Still the best I have seen thus far on a retail level.
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