MB Trading Futures - Introduction

Our forex clears through one party and our stocks/futures accounts clear through another (Penson). Therefore, they are two separate accounts. However, let me clarify. You can link the two accounts together and switch between them in Nav. You don’t have to log out and back in each time. The only issue is that you have to open two accounts.

Hi Justin,

I have the MBT SDK.

Does the EFX respect the code I build for the MBT SDK?

Regards,
Merlin

Johnathome-

MB is exploring a variety of options for wireless trading. Let me clarify a few points for everyone on a few topics.

Remote Trader has been moved to servers controlled by IFP, which is the company that originally designed the download-free concept. The login page can be found here and will shortly be linked from the old EFX website in the top corner, although customers using the platform should bookmark it directly:

https://rt.ifp-finance.com/Clientlive

Now for some more details. MB Trading did not acquire EFX for the Remote Trader platform. In fact, as EFX, we were working to combine a few components to make our total platform. One piece was the IFP front end, which was being customized under our supervision. Another piece was a SEPARATE third party product that allowed for complex scripting (a la Metatrader EAs) without knowing a complex programming language. A third piece was the wireless component, which is also designed by IFP (they already have the product, it just hadn’t been plugged into EFX yet because we were working on getting the charts on the main platform to a certain level that interfaced with MBT quotes properly, etc.).

These were separate working parts of Project Omega. When MB acquired EFX on March 1, Omega was not the reason at all, and all of the various components of Remote Trader/Project Omega had to be looked at to see if they made sense under the bigger picture of MB Trading. Unfortunately, not all of the pieces fit, and after a couple of months of business discussions, it was clear that not everything could be worked out. In that time period, no development was being done on any part of Remote Trader while the larger business discussions occurred (IFP has other financial products as well, so they just set this aside beyond support at the time). About two or three months ago, the business side was worked out with IFP, but for them to proceed with Remote Trader as a Third Party. Customers that wish to use Remote Trader will need to sign the equivalent of IB paperwork to use the product shortly. IFP spent the last few months altering the FIX Engine and preparing the product to be moved to their servers, which has just happened, at the link above.

You will now start to see more upgrades to their platform, such as much improved charting and advanced orders as they can now pivot back to that development and get it Beta tested. It is also likely, although this is their decision, that they could plug in their wireless piece. I’ve seen the wireless application that they have, and it is very clean, easy to use, and yet gets you all of the information quite simply on any browser-based phone. There would, most likely, be a fee for it as that is what is required to make it work on the various cell phone networks.

IFP is also looking at various scripting pieces to add to their platform, but the one that EFX was in the process of incorporating will not be it, and therefore, I can’t speak to what they will ultimately choose there. In the end, for people looking for a browser-based platform that bypasses corporate firewalls and adds (soon) better charting and some different order monitoring and potentially wireless trading, the IFP platform remains an option. Once they get the paperwork in place and update the interface, the product will come off of Beta (per the login page, the platform remains Beta).

Meanwhile, the EFX website will be going down most likely in the next 30-45 days, redirected to the MB site, and after that I think you’ll start to see why MB bought EFX in the first place.

Justin,

Perhaps you've addressed this in your previous post, but forgive me, I'm short on coffee this morning and everything is clear as mud...

Where do the promised advanced charts and historical data fit into all this? When will they be available and through which platform(s)? (Navigator? Remote Trader?) I think someone asked this question previously, but if I recall, your answer was that you'd PM them... Please share with us as well.

Thanks!

Dahlia

By the way, I've been with MBT/EFX for about 1/2 a year now. Love it so far. Just very anxiously awaiting the advanced charts & historical data.

Justin,

Since the chat is about charts now it would be neat to stream our individual account balances to the charting software. I've been plotting mine with the daily candles, and I see all kinds of trendlines there :-)

Dahlia ~


Historical data is being heavily tested internally and appears to be coming along nicely, but as with anything tech, I am unable to give a specific date.

As for charting, I can say even less on this topic at the moment, but there is more than one option in the works. I will say that between our internals product(s) and various Third Party products (especially once we give them historical data), you’ll have many great options to choose from.

I’m sure you read from that that a lot of the charting issues rely on getting historic data completed and made generally available.

Justin,

Thanks for the reply. But I'm a bit confused. I currently use Intellichart with an EFX feed, supplied by Fxtrek. Fxtrek's Intellichart Desktop provides historical data (up to 5 years for 5 min charts, if I'm not mistaken). Don't they get their data from you guys? And if so, then if they can provide historical data (and currently doing so), doesn't that mean that you can too?

Thanks!

Dahlia

Dahlia,

FXTrek has been collecting our intraday data going back three years, but all data prior to 3/08 is from an aggregated datafeed including Comstock.

Justin,

I have a quick question hopefully you can shed some light on.
Can I place a pending order that would be based on time and price?
For example, if G/U opens below 1.7665 at the 1800 GMT candle I would like to short it. Is there a way to place an order like that? or do I have to manually enter it? same for longs also.

Thanks and Happy Pippin'
KC

You would have to use their API and write an application that will let you do it. There is no way to use timed order firing in current Navigator. What you are talking about is very simple and very doable. If you can't code it yourself, just ask around and you may even find someone with a ready solution.

Regards.

Thanks FA, no I'm not a coder but would be willing to learn if someone pointed me in the right direction.

I'm not afraid to get my hands dirty, just don't know where to start with it.

Justin,

Do you still offer a discount on FX Trek?

Steve,

The website says that EFX members get Intellichart Online for $20 and Intellichart Desktop for $50.

It's funny, I spoke to an EFX rep. several months ago and he said that EFX will no longer offer that deal, and then several days later, another rep told me that the first rep didn't know what he's talking about.

I'm still getting 1/2 off, and the website still advertise 50% off Fxtrek for EFX clients...

I love Fxtrek's Intellichart, and what a great price with the discount. I didn't know until Justin's reply that historical data came from feeds other than EFX Hope my back testing using this data is still somewhat accurate...

Justin, please pass on my plea for whom it may concern to speed things along on the charts and the historical data. Once you get to that point, I really don't see how any other broker can compete with you, and I'll be the first to spread the word.

Dahlia

Yes, here you go: http://mbt.tradesecuring.com/Misc/fr...lselection.asp

Hi,

Just a quick question: why does MBT have negative swap on both long and short EUR/USD positions? And on many other currencies as well. Shouldn't the swap be positive on long positions and negative on short positions?

It 'should' be that way, unfortunately MB roll rates are not competitive (despite JLB's announcement a year or so ago that they will be improved). 500 BP and more below/above Libor on swaps is just way beyond. When it comes to interest rates, for some reason most brokers just can't keep their fingers out of the cookie jar. They ain't paying interest on unencumbered customer funds either - profits for MB out of these things must be substantial. Doubtlessly JLBs denial about MB participation on roll revenue will follow tho (i personally wont believe it).

I believe that did happen to a degree, as NZD/JPY long positions are no longer a negative swap as they once were.

Any one else having problems with the "new" forex platform.
Mine is constantly using all my resources and crashing. I have tried it
on two machines now with the same result.

Be interested top hear of others with similar experience

M

Well what ever it is with MBT, we have to give them credit
for spending time helping trader with the problem in the forum
like this, We dont see any other Broker offering this kind of
assistance and information openly on any forum board !

and I am a very satisfied EFX/MBT Client

they are like 500cc 2 stroke bike, they are cheaper to buy
while costing a bit more on long run, unlike the larger 1000cc
4 stroke bike which cost allot more to buy and cheaper to run
while both have same kind of power & speed.....

Justin,

I know a few posts back you mentioned that MBT wasn't supporting the remote trader tool, which I believe was a web-based interface to MBT. I'm not able to use Navigator at work (I think they are blocking the traffic, although MT4 works fine) and I was wondering if any other web-based interfaces were being developed. I realize its not likely, but thought I should ask. If I can't connect to MBT during the day, I'll have to limit my trading to evenings and use daily charts. This actually might be good for me, stay out of the market a little more, but I'll have far fewer trades.

Thanks!