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MB Trading Futures - Introduction

  • #3,161
  • Feb 16, 2009 11:00am Feb 16, 2009 11:00am
Justin,

Can you confirm this? Thanks!

Quoting Fulltime247
The Broker-PlugIn crap doesnt exist with MB - your orders go straight thru to the banks almost INSTANTLY. There's no incentive for them to cheat you since they work for commish. they want you trading as much as your little heart desires. scalp, position, whatever...

Quoting Dahlia
Justin,

With the anticipation of MT4 coming to MBT, are you aware of this thread on FF?
http://www.forexfactory.com/showthread.php?t=70582

Care to comment on it?

Thanks!
Dahlia
Money missed is better than money lost
  • #3,162
  • Feb 16, 2009 11:06am Feb 16, 2009 11:06am
Quoting Dahlia
Justin,

Can you confirm this? Thanks!
Confirmed. Quoted from our website:

We’ve taken the user-friendly front-end trading interface and added the execution that the market has been looking for. We’ve turned off the deal-desk functionality of the platform and made the executions as true as our systems can handle. What does Metatrader 4.0 through MB Trading offer?

  1. Direct ECN connections and execution
  2. Tight ECN spreads and quotes
  3. A true non-deal desk environment
  4. NO proximity restrictions when placing entry or exit orders
  5. Scalping available

While other brokers have offered Metatrader for years, MB Trading wouldn’t offer the system until we we could eliminate the deal desk functionality of the back-office systems of Metatrader. With this solution, our customers can experience Metatrader as it was supposed to be, without desk interventions, fixed-slippages, and stop and limit proximity limitations. We open the door to any available execution using Metatrader, and we give no priority to opening, closing, or hedging positions.

  • #3,163
  • Feb 16, 2009 2:40pm Feb 16, 2009 2:40pm
Quoting jleblang
Confirmed. Quoted from our website:

We’ve taken the user-friendly front-end trading interface and added the execution that the market has been looking for. We’ve turned off the deal-desk functionality of the platform and made the executions as true as our systems can handle. What does Metatrader 4.0 through MB Trading offer?

  1. Direct ECN connections and execution
  2. Tight ECN spreads and quotes
  3. A true non-deal desk environment
  4. NO proximity restrictions when placing entry or exit orders
  5. Scalping available

While other brokers...

Justin, when should live accounts be expecting this?
  • #3,164
  • Feb 16, 2009 4:01pm Feb 16, 2009 4:01pm
Justin, does mbtrading have any plans in the near furure of including more canadian provinces? If so, what is the ETA on that? Simply put, I dont understand why ontario is the only prov. that you accept customers from.
  • #3,165
  • Feb 16, 2009 4:53pm Feb 16, 2009 4:53pm
Quoting ndhoanggia
Justin, when should live accounts be expecting this?
No ETA on live Meta. We are making great progress towards the ultimate goal of going live, but it won't be until we are 100% certain its performing the way users will expect it to.
  • #3,166
  • Feb 16, 2009 10:03pm Feb 16, 2009 10:03pm
Justin, I have two questions for today.

1. Does MB Trading provides trading platform for non-Microsoft operating system? Such as for GNU/Linux families, Ubuntu or Fedora Core? If no, do you have any plans to offer it in future?

2. MBT provides dynamic spread. Do you have maximum spread data/history for major pairs especially during big news?

Thank you.
  • #3,167
  • Feb 17, 2009 10:09am Feb 17, 2009 10:09am
Quoting zam4ever
Justin, I have two questions for today.

1. Does MB Trading provides trading platform for non-Microsoft operating system? Such as for GNU/Linux families, Ubuntu or Fedora Core? If no, do you have any plans to offer it in future?

2. MBT provides dynamic spread. Do you have maximum spread data/history for major pairs especially during big news?

Thank you.
Zam,

1. At this we don't, but I could see a possible solution in the foreseeable future.

2. I don't have an internal report I can provide, but spreads remain relatively tight during news announcements. Have you ever seen this site? It might be what you are looking for.

MB Trading Forex Pairs and Volume Stats
  • #3,168
  • Feb 17, 2009 10:12am Feb 17, 2009 10:12am
Quoting jleblang
Zam,

1. At this we don't, but I could see a possible solution in the foreseeable future.

2. I don't have an internal report I can provide, but spreads remain relatively tight during news announcements. Have you ever seen this site? It might be what you are looking for.

MB Trading Forex Pairs and Volume Stats
Thank you for the reply. Let me read it that first, and will asks more question soon.

cheers
  • #3,169
  • Feb 17, 2009 11:46am Feb 17, 2009 11:46am
Hi Justin,
Just one question regarding the funds guarantee,
will I get back my money in the case the MBT failure (ie bankruptcy, ...) ?
Something similar to FSA regulated company in UK, would be great.
I am really interested by MBT offering but this point is not clear for me.
For your information I am not US resident.
Thank you in advance and have a nice day.
Yours
TL
PS
Maybe MBT has FSA regulated branch in UK ?
  • #3,170
  • Feb 17, 2009 12:44pm Feb 17, 2009 12:44pm
Quoting jleblang
No ETA on live Meta. We are making great progress towards the ultimate goal of going live, but it won't be until we are 100% certain its performing the way users will expect it to.
hello,

today i started a demo account. I hope mt4 will be ready to use soon because the javacharts in MTB navigator froze for more than a minute.... i am practicing trading from a tick-chart so i feel i have to go with an ECN broker...i guess i'll have to wait for mt4.

i find it strange that such a complex piece of software like Navigator doesn't have good charts. i see quotes moving and the 1min. linechart not.

i hope i am doing something wrong and maybe justin can help me.

greets, jacco
even with my eyes open i cannot see everything
  • #3,171
  • Feb 17, 2009 3:15pm Feb 17, 2009 3:15pm
I think free Ninja Trader charts MBT.
  • #3,172
  • Feb 17, 2009 4:02pm Feb 17, 2009 4:02pm
Quoting tomlee
Hi Justin,
Just one question regarding the funds guarantee,
will I get back my money in the case the MBT failure (ie bankruptcy, ...) ?
Something similar to FSA regulated company in UK, would be great.
I am really interested by MBT offering but this point is not clear for me.
For your information I am not US resident.
Thank you in advance and have a nice day.
Yours
TL
PS
Maybe MBT has FSA regulated branch in UK ?
tomlee ~

MBT does not guarantee funds against bankruptcy for FOREX accounts - this would be something like SIPC insurance and that does not exist for Forex accounts in the United States. We do offer protection against fraud through the Fidelity 14 Bond, but that still will only protect you if a member/employee of our company committed fraudelant acts.
  • #3,173
  • Feb 17, 2009 6:38pm Feb 17, 2009 6:38pm
Quoting jleblang
tomlee ~

MBT does not guarantee funds against bankruptcy for FOREX accounts - this would be something like SIPC insurance and that does not exist for Forex accounts in the United States. We do offer protection against fraud through the Fidelity 14 Bond, but that still will only protect you if a member/employee of our company committed fraudelant acts.
If client funds are separately held in segregated accounts and are not co-mingled with MB Trading's accounts, how is it possible to lose funds if MBT goes bankrupt?
  • #3,174
  • Feb 17, 2009 6:41pm Feb 17, 2009 6:41pm
It's the LAW... The judge presiding over the bankruptcy proceedings will determine the distribution of funds, including yours.

Read some disclaimers at various US Dealers.

Oanda has a good one.

http://fxtrade.oanda.com/legal/risk_warning.shtml

"Your Margin Account with OANDA is not insured under any state or federal insurance program, or by any other entity. In the event OANDA should become insolvent or file for protection under the bankruptcy laws, it is possible that you would lose the entire amount in your Margin Account."


http://www.nfa.futures.org/complianc...estorAlert.asp

"You are relying on the creditworthiness and reputation of the other party to the transaction. Retail off-exchange forex trades are not guaranteed by a clearing organization. Furthermore, funds that you have deposited to trade forex contracts are not insured and do not receive a priority in bankruptcy."


Other countries have different policies.
  • #3,175
  • Feb 18, 2009 8:38am Feb 18, 2009 8:38am
Quoting phy
It's the LAW... The judge presiding over the bankruptcy proceedings will determine the distribution of funds, including yours.

Read some disclaimers at various US Dealers.

Oanda has a good one.

http://fxtrade.oanda.com/legal/risk_warning.shtml

"Your Margin Account with OANDA is not insured under any state or federal insurance program, or by any other entity. In the event OANDA should become insolvent or file for protection under the bankruptcy laws, it is possible that you would lose the entire amount in your Margin Account."...
But this is not the case for futures accounts is it?
  • #3,176
  • Feb 18, 2009 9:55am Feb 18, 2009 9:55am
Quoting phy
It's the LAW... The judge presiding over the bankruptcy proceedings will determine the distribution of funds, including yours.

Read some disclaimers at various US Dealers.

Oanda has a good one.

http://fxtrade.oanda.com/legal/risk_warning.shtml

"Your Margin Account with OANDA is not insured under any state or federal insurance program, or by any other entity. In the event OANDA should become insolvent or file for protection under the bankruptcy laws, it is possible that you would lose the entire amount in your Margin Account."...
That is correct.
  • #3,177
  • Feb 19, 2009 10:12pm Feb 19, 2009 10:12pm
Hay jleblang, i was wondering if Quotetracker work with MB Trading Forex and if MB provides backfill for forex charts?
  • #3,178
  • Feb 20, 2009 3:43am Feb 20, 2009 3:43am
Yuck, just got slipped 47 pips on a GU stop order. Granted, it was a fast market on news but that's the worst fill I've ever had on MBT and I've had a few bad 'uns.
  • #3,179
  • Feb 20, 2009 5:43am Feb 20, 2009 5:43am
hi jleblang: I have just downloaded MBT navigator for few days, some question about setting orders: if I open two lots with stop loss say 10 pips, after the price going my favor direction 10 pips, I close one lot and move stop loss of the second lot to B/E. If Im not wrong , openning trade and setting stop loss at the same time can use market+TTO order, but how to set orders to close partial trade and move stop loss to B/E? In addition when reverse a trade, I must cancel orders of last trade first, it is really un-convenient to reverse a trade. so how to make this quicker?Thanks! Sorry for my poor English, hope you understand me.
  • #3,180
  • Edited 8:16am Feb 20, 2009 8:02am | Edited 8:16am
Quoting blackmovie
hi jleblang: I have just downloaded MBT navigator for few days, some question about setting orders: if I open two lots with stop loss say 10 pips, after the price going my favor direction 10 pips, I close one lot and move...
I think the whole way MBT Navigator manages trades should be changed becouse even the very simple stuff becomes extremely difficult that way.
I think they should just threat every trade open as single "object" detached with other trades with
properties attached to it, like stop loss, trailing stop eventual TTO attached to it etc...

They should consider every trade as a separate one which I could reverse without having to double the size and make an opposite trade and without affecting
other trades already open. Maybe a design review is needed, but of course it must meet the constraints they have when forwarding orders to banks.

Right now it's very confusing... It's good for longer term trading and simple trading, not if make a lot of trades every day and with multiple positions opened... so I think they've a great miss in potential income from many traders here. Obviously there are many other positive things about this broker, and I use it because those overcome the negative ones.

If they go ahead implementing a good support for MT4, many of these problems could be overtaken with MT4 scripts.

jleblang when will MT4 go live? is it still in testing?
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