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MB Trading Futures - Introduction

  • #2,521
  • Sep 17, 2008 3:52am Sep 17, 2008 3:52am
Hi
Can you comment your relationships with :

Forexbastards.com - Kingforexsignals.com
Secretnewsweapon.com - Secretforexsociety.com
Forexfreedom.com - Forexdiamonds.com
Forexpeacearmy.com - Forexpeacearmy.org

thank you.
  • #2,522
  • Sep 17, 2008 10:38am Sep 17, 2008 10:38am
Quoting ILclitoride
Hi
Can you comment your relationships with :

Forexbastards.com - Kingforexsignals.com
Secretnewsweapon.com - Secretforexsociety.com
Forexfreedom.com - Forexdiamonds.com
Forexpeacearmy.com - Forexpeacearmy.org

thank you.
Ilclitoride ~

Who are you directing this question to?
  • #2,523
  • Sep 17, 2008 10:43am Sep 17, 2008 10:43am
Quoting cementman
jleblang..thanks for your reply, well what i'm getting at is that for each buyer there is a seller and if i'm buying 10000 $ from some one and all i have is 100 then for sure there is a third party lending me the rest of the money i need to give to the seller right..now if that part is the bank as you said and it charge the swap , now how about those ppl who claim that you can trade an interest free or swap free account for an extra commission charged, now is that possible.
Yes, the only way to make money in Forex is to borrow on leverage...so you'll always be borrowing money from either your broker (deal desk), or qualified destination (typically an STP model).

I'm sure some institutions have built their systems to offer swap free trading by adding cost to the spread or trade commission, but that is not our model and I don't know of any US brokers offering such.
  • #2,524
  • Sep 17, 2008 10:47am Sep 17, 2008 10:47am
Quoting PipRev
Hi Jleblang, I'm trying to open an account with MBT as I've been experimenting with your demo for a while now and it seems you're the guys to go to as far as ECNs are concerned.

My problem is that I'm canadian in the Quebec province and there is only the Ontario province that I can choose from in your signup menu. I've asked your support and they suggested getting a summer house in Ontario (who would want THAT! ). My parents do however own a house in Florida...

Anyway I'm wondering if there's a way for me to circuvent that problem and especially since I plan on opening a larger corporate account later on. I really had my mind setup about doing business with you. Do the laws really prohibit you from doing business with people in the province of Quebec?
Yes, do the current regulations and requirements, we only are able to offer accounts to those with a residential or business address in Ontario.

I would suggest you email [email protected] and talk through with them what your available options are, there might be something you can do with your parents address.
  • #2,525
  • Sep 17, 2008 10:48am Sep 17, 2008 10:48am
Quoting 30XTCi
Justin, is there any way to pull up all trades taken over the previous 12 months. I keep running into a 30 day maximun records held.
Unfortunately there is not, but if you need a 12/mo report and don't want to break it up by monthly reports...you may email me at [email protected] and I'll see if I can't provide you one.
  • #2,526
  • Sep 17, 2008 11:41am Sep 17, 2008 11:41am
Justin,

I am actually about to open an FX account with you guys at MB. I really do enjoy them and think they are pretty good executionwise(demo) , spread wise, and the fact that you are an ECN model sold me. I do not mind paying a little commission if I am not at the mercy of the dealing desk, which is nice you dont have one. My one qestions is about fund or I guess firm security. Please definatley correct me as I maybe wrong, I have researched so many and tried so many demos, I might be getting them mixed up. I thought I remember somewhere that you guys had some sort of insurance which they called a Lehman 14 bond, which is a type of insurance for some companies. Was that your company that has it? And if so what are you going to do about it since Lehman is now bankrupt? If that was not you I apologize and look froward to trading FX with MB. Thanks and my other question was about meeting net capitial not now but next year when it is 20 million , but I found all your answers in the threads here. And I do appreciate you taking the time/

Thanks

RANGER
  • #2,527
  • Sep 17, 2008 2:24pm Sep 17, 2008 2:24pm
Quoting ranger
Justin,

I am actually about to open an FX account with you guys at MB. I really do enjoy them and think they are pretty good executionwise(demo) , spread wise, and the fact that you are an ECN model sold me. I do not mind paying a little commission if I am not at the mercy of the dealing desk, which is nice you dont have one. My one qestions is about fund or I guess firm security. Please definatley correct me as I maybe wrong, I have researched so many and tried so many demos, I might be getting them mixed up. I thought I remember somewhere that you guys had some sort of insurance which they called a Lehman 14 bond, which is a type of insurance for some companies. Was that your company that has it? And if so what are you going to do about it since Lehman is now bankrupt? If that was not you I apologize and look froward to trading FX with MB. Thanks and my other question was about meeting net capitial not now but next year when it is 20 million , but I found all your answers in the threads here. And I do appreciate you taking the time/

Thanks

RANGER
Ranger,

Thanks for your post and questions, welcome to MB Trading.

We do in fact have the bond you're referring to, but its the Fidelity 14 Bond, not Lehman.

Please note - this bond specifically relates to forex products only, the purpose of the bond is provide customer asset (account) protection only in cases of any loss from fraudulent acts [i.e. Forgery, embezzlement, theft] committed by employees of the firm.

This bond does not protect customers against bankruptcy, this is commonly confused by SIPC or FDIC protection. Similar products to that of SIPC are not offered for the forex industry.

Let me know if you have any other questions.
  • #2,528
  • Sep 17, 2008 2:52pm Sep 17, 2008 2:52pm
Great Justin!

Thanks and my mistake I apologize, I have been reading so much and trading that I guess my mind was out there! I appreciate the explanation. One more question I have is the use of MILLENIUM trust as custodian for IRAS. I know you guys use ENTRUST, do you have any plans in the future to use entrust as well. I have a family account I trade and manage at TRADESTATION and would like to move the ira with my to MB FX. I know it will be a pain to get it from MTRUST to Entrust to you guys, but if thats what I have to do I will. Once i have several accounts with you mine, and a fmaily members, is there a block account trading part of the Navigator platform for FX, or would i need to do the trdes on 2 different platforms? I would rather say do a 2lot and then have the platform automatically direct one lot to my account and one to the famly account? Any thoughts?

Thanks

Darren(ranger)
  • #2,529
  • Sep 17, 2008 3:02pm Sep 17, 2008 3:02pm
Quoting ranger
Great Justin!

Thanks and my mistake I apologize, I have been reading so much and trading that I guess my mind was out there! I appreciate the explanation. One more question I have is the use of MILLENNIUM trust as custodian for IRAS. I know you guys use ENTRUST, do you have any plans in the future to use entrust as well. I have a family account I trade and manage at TRADESTATION and would like to move the ira with my to MB FX. I know it will be a pain to get it from MTRUST to Entrust to you guys, but if thats what I have to do I will. Once i have several accounts with you mine, and a fmaily members, is there a block account trading part of the Navigator platform for FX, or would i need to do the trdes on 2 different platforms? I would rather say do a 2lot and then have the platform automatically direct one lot to my account and one to the famly account? Any thoughts?

Thanks

Darren(ranger)
Ranger ~

You're welcome.

We did attempt to work with MILLENNIUM Trust, but were unsuccessful in receiving the proper documentation from them in order to comply with our account requirement needs. So at this time, only ENTRUST is available for IRA accounts.

For multiple account trading we do have a Managed Account Tool you can use...see screen shot below. This allows you manage multiple accounts from one location.
Attached Image (click to enlarge)
Click to Enlarge Name: MAT View.png Size: 229 KB
  • #2,530
  • Sep 17, 2008 3:06pm Sep 17, 2008 3:06pm
Ok one last question pertaining to the managed account tool, I like that I can manage from one location. Can I actually trade one time and then have that trade be split between the accounts either by lot or ratio that i can set? Or so i just have to manage the account in one location and picking the account I want to trade eact time?
Thanks
  • #2,531
  • Sep 17, 2008 3:33pm Sep 17, 2008 3:33pm
Quoting ranger
Ok one last question pertaining to the managed account tool, I like that I can manage from one location. Can I actually trade one time and then have that trade be split between the accounts either by lot or ratio that i can set? Or so i just have to manage the account in one location and picking the account I want to trade eact time?
Thanks
Yes, the MAT allows you to place one trade that would allocate based on percentage to all selected active accounts.
  • #2,532
  • Sep 17, 2008 4:50pm Sep 17, 2008 4:50pm
Justin hi.
Can you tell me if you plan to lower your commissions temporarily cause today and yesterday i see very often 7 pips spread (E/U) and 11 pips(G/U).
Thank you
  • #2,533
  • Sep 17, 2008 5:30pm Sep 17, 2008 5:30pm
Quoting panos69
Justin hi.
Can you tell me if you plan to lower your commissions temporarily cause today and yesterday i see very often 7 pips spread (E/U) and 11 pips(G/U).
Thank you
panos69 ~

At this time I do not have any update on commissions. I can assure you though, we have not touched a thing and that what your seeing is our liquidity partners widening spreads and taking less risk at this time of uncertainty. I've heard from many FF members that they are seeing very similar spreads and activity with their other brokerages.

If you're familiar with our system, please recall that you can post bids and offers at any price, including between the spread by using a limit order. The order will then be displayed for all to see and trade with.

Example>

SHOWING: EUR/USD (B) 1.4340 by (A) 1.4343

Place a limit order to buy 200,000 at 1.43415

NOW SHOWING: EUR/USD (B) 1.43415 (200,000K available) by (A) 1.4343
  • #2,534
  • Sep 17, 2008 7:31pm Sep 17, 2008 7:31pm
Hi Justin,

I've been using MBT for a while now and been happy so far. However the super wide spreads lately has made me think there is something not right. Market is partially at blame but then how come other brokers are showing better spreads.

My daily average trading volume is over a Mil and I think I am not getting a good deal here. Dukascopy and IB seems to have better spread through out the day. I am seriously considering moving my funds over to one of these brokers.

Regards,
FirePips
  • #2,535
  • Sep 17, 2008 7:56pm Sep 17, 2008 7:56pm
FirePips, if you've been happy so far with MBTrading, I suggest you don't switch your account to another company based solely on some temporary fluctuations out of MBTrading's control.
If the spreads were caused by them then moving would be understandable, but the spreads you get simply reflect the lack of trust in the market and the increased LIBOR rates...
  • #2,536
  • Sep 17, 2008 7:56pm Sep 17, 2008 7:56pm
Quoting FirePips
Hi Justin,

I've been using MBT for a while now and been happy so far. However the super wide spreads lately has made me think there is something not right. Market is partially at blame but then how come other brokers are showing better spreads.

My daily average trading volume is over a Mil and I think I am not getting a good deal here. Dukascopy and IB seems to have better spread through out the day. I am seriously considering moving my funds over to one of these brokers.

Regards,
FirePips
Please see PM and post above.
  • #2,537
  • Sep 18, 2008 2:45am Sep 18, 2008 2:45am
I have also been with MB Trading for a while now and while i have no complaint about their fills and customer service, MB Trading is by far the most expensive broker to trade with especially if you are trading short term. The spreads lately are very high.. Majors during UK and early US session 1-3 pips (average 2 pips) but then starting late US session and during Asian session the spreads go up considerably..Cable on average 6-8 pips and donīt forget to add MB Trading commissions which add up to another 2 pips on average. On top of that you will not get any interest on positions where you bought the currency with the higher interest rate. So overall, if you add everything up, MB can be up to twice as expensive as any other broker... and even more. For me it was definitely the wrong move to switch to MB as i did not experience any worse trade execution at the other broker where i have been before.
  • #2,538
  • Sep 18, 2008 10:55am Sep 18, 2008 10:55am
Quoting onlinefx
I have also been with MB Trading for a while now and while i have no complaint about their fills and customer service, MB Trading is by far the most expensive broker to trade with especially if you are trading short term. The spreads lately are very high.. Majors during UK and early US session 1-3 pips (average 2 pips) but then starting late US session and during Asian session the spreads go up considerably..Cable on average 6-8 pips and donīt forget to add MB Trading commissions which add up to another 2 pips on average. On top of that you will not get any interest on positions where you bought the currency with the higher interest rate. So overall, if you add everything up, MB can be up to twice as expensive as any other broker... and even more. For me it was definitely the wrong move to switch to MB as i did not experience any worse trade execution at the other broker where i have been before.
I have an account at IB as well and the spreads are ridiculous right now. This is just a function of the banks being afraid of the next bit of news related to the financial sector. No one wants to get caught in a position, so they aren't showing much size. It's across the board. I also have an account with Dukascopy, although I'm thinking of closing it as I don't use it much. It appears that they are playing some of the old desk games again. The reality is that right now is not a very liquid time in the markets, and you can't really get around that no matter where you go.
  • #2,539
  • Sep 18, 2008 11:05am Sep 18, 2008 11:05am
I'm not a client of MBTrading but everyone seems to be complaining about spreads lately. The best thing to do if spreads bother someone a lot, especially if they're scalping is to just stay on the side until things get back to normal.

No more cheap threats to move accounts to a different broker, that never solves anything.
  • #2,540
  • Sep 18, 2008 12:21pm Sep 18, 2008 12:21pm
Quoting IndyTrader
I have an account at IB as well and the spreads are ridiculous right now. This is just a function of the banks being afraid of the next bit of news related to the financial sector. No one wants to get caught in a position, so they aren't showing much size. It's across the board. I also have an account with Dukascopy, although I'm thinking of closing it as I don't use it much. It appears that they are playing some of the old desk games again. The reality is that right now is not a very liquid time in the markets, and you can't really get around that no matter where you go.
Agree with you. In the current environment spreads are high across the board but also during normal conditions i dont see an obvious cost advantage trading with MB. If you add everything up, they are still a very expensive broker.
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