MB Trading Futures - Introduction

LOL. Yeah, they charge you for orders you don't run. Riiiiight.

I just recently opened an account with EFX and so far, I'm very excited about the results. I was trading with another broker that uses an ECN and I had 12 winning trades and only two losing trades, and they wiped out half my trading equity on the two losers alone. One of the two losing trades should have been a winner, and the other should never have even activated, so I never should have lost money!!! On one of the losing trades they slipped me by more than 50 pips, causing my order to activate so far above my entry level that it even surpassed my TP by 50 pips. The order opened and immediately closed for a 50 pip loss, when it should have been a winning trade for me.

The second loss came when they widened the spread by 50 pips and activated an order that was 30 pips above the highest level the market ever even traded. When I contacted them to ask why my order activated, they stated there was news that caused it. There wasn't anything important going on and it was at some odd hour of the morning in GB? Why would they do that.... only to sweep for the orders that they knew were above the resistance level, knowing that they could collect all the money for those losing trades. This was with a broker that was supposed to be a good one that didn't use a dealing desk and that had a fair system utilizing an ECN.

There should be no reason to activate an open order that is 30 pips above the highest trading prices. That's just theft any way you look at it!!!! Unfortunately, this broker also only allowed stop entries, so you had no protection from them doing those types of things. This broker knew where the stops were and they new they could sweep for them and they did.

I'm a scapler and I need to know that I can get a guaranteed entry point, and EFX allows that with the Stop/Limit entry order. I had an open order this morning during the GPD/USD interest rate news and my order was excuted at my stop/limit entry level and closed at my TP level like clockwork. Overall, I paid the equivalent of a 4 pip spread. While you might get a slightly better spread at another broker, could you get the guaranteed entry price and a guarantee that you won't get ripped off because they widended the spread during the news? Guaranteed I would have lost money on this trade with my old broker! The extra pip or two is worth the peace of mind. Bottom line is that I still made money, while I didn't have to worry about slippage and I certainly didn't lose money on a trade that went my way as I did previously.

I can't speak for large traders with big accounts, but if you like to scalp and shoot for quick gains, you can't beat EFX. They are the only broker I have found with a decent order system that allows you to scalp the market. If your making money, rather than losing money, the extra pip or two you pay in commisions is nothing!!! Trust me, I've done it both ways and I know first hand that making money is all that matters in the end. It doesn't do you any good to save a pip or two per trade, only to have those few pips and many more legally taken from you by a broker with a poor entry system that widens the spread on you whenever it will benefit their pockets.

If you are a scapler or if you like to trade the news, then EFX can help your trading. You might miss a trade or two because of the limit entries, but it's better than getting slipped 50 or more pips and having one losing trade that can wipe out a dozen winning trades, or even worse, wipe out your account.

Is there anyway I can use metatrader for EFX, or...

guys ,before writing ,read the posts and you 'll see that he answered many times regarding mt4 and the answer is nooooooooooo !!

too much to read

Does "pending order goes live" mean the order has been activated without any fill or after the order has been filled?

Hi Justin , just a clarification , why you are so low on Adjusted net capital and your excess net capital is omly 630.315 ?
Interbankfx that i consider a broker just to joke has excess of 4.764.943


MB TRADING FUTURES INC. N NFA 11/30/2006 1,630,315 1,000,000 630,31500

The first N means that you are not registered with the Securities and Exchange Commission as a securities broker or dealer.

look Oanda
OANDA CORPORATION N NFA 11/30/2006 19,211,631 1,000,000 18,211,631 0 0

what is up on euro/can? spread was widened 150+ pips was that just to run stops? bid 1.5120? it is now 1.5270?

Who trades eur/cad during asian market ?
Anyway i have 1.5274/77 at 06.43 gmt

no one I know would trade it during the asian session ,I bought in Ny friday I was just wondering if they were trying to run my stop.which luckily I didn't use

Justin , there is a possibility to connect Navigator with Strategy Runner ?

if innot mistaken oanda use to be 30 mill, so they or droping

Just be curious,Does EFX match the bank feeds together to make a transaction and charge commision? If so , it seems a small scale FXmarketspace.

No they dont match the banks. You can see in a fast market a higher bid than offer on a regular basis.

Hello Everyone ~

First off I would like to apologize for not being around recently, I've been feeling pretty ill and have been trying to rest as much as possible.

Now to the questions.....starting here;

Pending Orders showing the message "Live" mean that the order is status pending and waiting to be filled.

I've received a simliar question on another forum, so I'm going to post that response.

The question:

"Several of my friends / trading partners have accounts elsewhere where the requirements are smilar and have become concerned when their broker's capital drops. Oanda has gone from $31M to $19M in @ 1 year. That's alarming to say the least. The other popular market makers have mostly large sums but are not honest with their clients. I need clarification on this and you have always been straight with me in the past."

My response: Let's examine "net capital".

Most brokers that have good system management tools on their back-end don’t really worry about “going under” from a net capital perspective. I mean, anything can happen in forex, but other than Refco, which was about fraud at the top level of the company, name another big firm that has gone under?

As long as they have tools that close out their client positions if their accounts get near zero, it just doesn’t come into play. So when someone’s capital drops from $31 million to $19 million, I really wouldn’t worry about it.

Perhaps the owners decided that the company was cash-flowing nicely enough that they wanted to take $10 million out of the company. That’s really fine. MB Trading, our parent company, has been around for over a decade on the stock side, which has much tighter regulatory and capital requirements with no issues. They have deep pockets, even if they choose to keep only the minimum available under “net capital” rules. I seriously doubt that even a surprise leap in the market 300 pips in one direction in a split second would do any damage, and they have plenty of money behind them.

I totally understand why people look at the net capital numbers, but to be honest, again, various firms show various amounts, and many fluctuate. But have any of these firms gone under? I just don’t think it’s a major issue.

The minimum is there for a reason set by the NFA, but we feel comfortable keeping ours where it is. One other note. All other platforms out there are deal desks (since we’re being honest, I’ll just be blunt about, there are no other real non-dealing desk platforms). That means that they have to constantly trade against their customers, which requires holding positions. That is a little more dangerous from a net capital perspective because the firm could get upside-down against their customer. Since our firm never takes on the opposite side of a client trade, we don’t really have to worry about having a big position ourselves, we just have to worry about managing our clients and making sure their positions don’t take them under zero.

I hope this helps.

Will anyone be attending the New York trade show this weekend?

Question about the stop-limit order

If the prices jump and pass the stop-limit order range, does the stop-limit order still active as an open order or it cancelled automatically?

BTW,Justin
Take a rest if you feel tired. The money cannot buy health. Take care.

I won't be able to make it unfortunately, won't be able to get my travel documents ready.

Hello Justin LeBlang

Can you tell approximately when the trading platform Omega is going to be available?