MB Trading Futures - Introduction

I had no issues at all today on news, and I did have several trades trigger.

Hey Justin, this is great news. Can you remind me again of the schedule for net cap requirement increases? I know it was going to $10 mil, then $15 mil, then $20 mil. When does each kick in? Either way, I have to say that after the last few years, you guys have been good to your word each time. I think only a newbie would question you at this point.

I can't comment on the platform as I rarely have it open, it's really just a backup account, though I do use it for the occasional kiwi trades (IB has a daily 2-hour NZD blackout). I have however been pulling the quote feed 24/5 for over a year and there's never been a single hiccup.

No problems here, maybe you must desinstall completely the navigator platform, even deleting the mbtrading folder (it´s better the program from mbtrading than efxgroup), and then install it again.

Indy ~

Thanks for the comments and question. The requirements bump in November 2008 to $10 million, May 2009 to $15 million, and November 2009 to $20 million. We don’t see a point in putting $20 million up in a static account a year ahead of time, but I think you saw my last comments to Jim on these boards. We basically stay ahead of the requirements by a reasonable cushion as the requirements move or are about to move. We see no point in burying good money in an account that doesn’t grow our business until such time as the requirements state. But I think this latest CFTC report, which is for JULY 1, remember, already shows that we can do what we need to do. This is about five months ahead of the $10 million requirement. I think you can reasonably expect that this number will float higher in general over the next year and easily eclipse $20 million when needed. On any reasonable level, we expect that the $20 million number is enough that the NFA will stop.

Keep in mind, by the way, that even when the requirement was only $250,000 a few years back, not many firms went under, and one of the ones that did was Refco, one of the “largest” players.

As to your other comments, I would phrase it this way.

Three years ago, we said that we had an ECN/STP platform and that people didn’t need to deal with a deal desk any more. People said it wasn’t possible. Now this is accepted.

Two years ago, we said that people could trade minis on the interbank system. People said it wasn’t possible. It WAS possible because we brought so much volume to the banks in the Interbank system. Now, this is accepted fact.

One year ago, we said that we would move enough funds to show our net capital when the requirement moved to $5 million. We did that comfortably at the end of 2007. Many people said we couldn’t, which we thought was extremely strange.

Now, people questioned whether we could get to $10 million for November, as if we had “stretched” ourselves just to get to the $5 million plus mark. Again, all nonsense, as we have moved funds in advance of the requirement change.

Yes, at some point, I would hope that people see that we are a legitimate firm that doesn’t lie to people about where we are at or how the market works. We’ve been ahead of the curve several times and met the increasing regulatory demands of the industry, which we’ve always said would not be a problem because we did it in the stock business for over a decade. I don’t think the same can be said for all of these other brokers who market certain platforms but won’t come forward to talk about limit order reflection, net capital, order types, or minimum spreads like we do.

I will be at an industry trade show during the week after Labor Day in September. Based on what I’m seeing now, I think we will have some major announcements to make shortly after that show, and we’ll be able to bring the whole ECN-EFX to MB-Remote Trader-Navigator-Net Capital thing full circle and explain the pieces and why we’ve done what we’ve done over the last year or so.

If there are people that think that the forex industry has already improved enough for the benefit of the trader, I think we can add to that for you shortly.

I like the fact that MB Trading forex has charts. I have been using other charts then make a trade on MBT. Now I can use their own charts.

Is there any issue with regards to MBT's slow execution lately?

no

I haven't experienced any slow executions at MB - everything works fime on my station...

What will the commission be if I trade 5000 units of EURUSD?
Can someone confirm that you can trade microlots on MBTrading/EFXGroup?


Thanks!

Frank - yes, you can trade microlots on MBTrading.
If you open a mini-account, then you enter 1.0 for a mini lot and 0.1 if you want microlot.
Also, you can do some wierd quantities like 0.12 just for fun :-)

As for comission - it's 50 cents for 1 mini-lot ($1 for the round-trip).
This is equivalent of 1 pip.
Anyway, you'll see all of that in their demo version

Actually, commission for 1 minilot Eur/Usd would be 50 cents * 1.5 = 75 cents ($1.5 for the round-trip).

Haven't traded much on MB over the past week, but on the trades that I took, I didn't notice anything.

Thank you for the correction my mistake! Was thinking about AUD/USD :-)
Yes, it's 50 cents of the BASE currency - USD in this case. Consequently, AUD/NZD AUD/$, NZD/$ are the cheapest, and GBP/USD is $1 per round-trip

Actually, GBP/USD would be slightly less that $2 per roundtrip (50 cents * 1.95 *2)

anyone noticed the spike 1.5090(EUR/USD)@04:53EST?
NO OTHER BROKER HAD IT

yes i noticed that too why was that?
But to my knowledge if there is anything wrong with the charts it is intellicharts responsible for it.

It Was Not Only In The Charts.it Hit My Stoploss Lol...

then there is something wrong maybe Justin can help us with that

Please email me the details of the spike, including your account #, the time of the spike and details of the trade it triggered.

I will review and reply back directly to you.

Thank you.