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MB Trading Futures - Introduction

  • #3,361
  • Apr 9, 2009 10:36am Apr 9, 2009 10:36am
Quoting belief
From it's Online Account Application:

  1. Is MBT a MM or Broker?
  2. How does MBT's 'instantaneously offsetting' works?

belief ~

MB Trading is not a MM, but we must say we are the counterpart, because all client orders must pass through our servers and technically speaking the trades are executed by us as the counter since customers do not have an agreement with the banks, MB Trading does. We are placing the trade on your behalf and matching them with the best available price from our liquidity providers.
  • #3,362
  • Apr 9, 2009 11:01am Apr 9, 2009 11:01am
Justin, is there any chance MBT MT 4 live will be available soon (May, June, July, I mean)?
  • #3,363
  • Apr 9, 2009 11:03am Apr 9, 2009 11:03am
Quoting stvforex
Justin, is there any chance MBT MT 4 live will be available soon (May, June, July, I mean)?
Yes....based on your time line, I feel confident saying MT4 will be live.
  • #3,364
  • Apr 9, 2009 1:00pm Apr 9, 2009 1:00pm
Quoting jleblang
belief ~

MB Trading is not a MM, but we must say we are the counterpart, because all client orders must pass through our servers and technically speaking the trades are executed by us as the counter since customers do not have an agreement with the banks, MB Trading does. We are placing the trade on your behalf and matching them with the best available price from our liquidity providers.
Not to be mean, but this phrase appears in your agreement that you must sign to open an account into the "MB TRADING FUTURES (MBTF) AS COUNTERPARTY" section: "THE PRICES MBTF OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE"

This seems to contradict what you said above.
  • #3,365
  • Apr 9, 2009 1:24pm Apr 9, 2009 1:24pm
Quoting Adal
Not to be mean, but this phrase appears in your agreement that you must sign to open an account into the "MB TRADING FUTURES (MBTF) AS COUNTERPARTY" section: "THE PRICES MBTF OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE"

This seems to contradict what you said above.
Adal-

Sorry, but you are misinterpreting the point. We can’t control the prices shown by other forex brokers. So in theory, you might find a broker at any given second that has a bid higher than ours or an offer lower than ours. Maybe you aren’t familiar with lawyers and legal jargon, but we are obligated to state that someone might have a price better than us out there in the world at any given second. That has nothing to do with the way our system operates, which is to direct you order to the best price available through our providers.

So to be clear:

Our system routes to get you the best fill available within our system, we execute on your behalf, and because you don’t have clearing arrangements with the liquidity providers on our system, we represent you in the exchange and are therefore technically the counterparty of your trade, even though you always get the price that you executed at.

Separately, MBTF as a whole cannot guarantee that at every second, another broker doesn’t have a better bid or offer than our system displays.

Two different points.
  • #3,366
  • Apr 9, 2009 1:34pm Apr 9, 2009 1:34pm
Quoting jleblang
belief ~

MB Trading is not a MM, but we must say we are the counterpart, because all client orders must pass through our servers and technically speaking the trades are executed by us as the counter since customers do not have an agreement with the banks, MB Trading does. We are placing the trade on your behalf and matching them with the best available price from our liquidity providers.

Actually, if i am not mistaken, MB trading does not have any agreements with the banks, TDFX does.
  • #3,367
  • Apr 9, 2009 2:21pm Apr 9, 2009 2:21pm
This is a picture from this morning on my demo account:

http://i42.tinypic.com/2607j1k.png

I do not understand a few things.

I presume that at 07:00 my local time it's the MBT daily shutdown. Why does the EUR/USD order appear here, even if it was already filled before?

And what does it mean for an order to appear in this table with the "Suspended for reason: Session Closed" status mean? That it is being reopened because of the temporary close?

Also, the AUD/CAD order seems to have been filled exactly at the shut down moment. Is this correct? If true, could this be the reason why it was only partially filled, even if it was a small order? I presume ROLLO means that I paid rollover when partially closing the position. The order was filled at the requested price. Where is the rollover then? Was it debited from the account balance? Also, is there a way to see the rollover amount somewhere?

I cannot add ADBE or SPX in the Watchlist window in a demo FOREX account. MSFT and SPY are already present. Will I be able to add these in the Live account? Or I won't be able to watch stocks at all?

I've also tried adding EUR/RON to the Watchlist. I succeded, but it shows a price which seems to be 6 monts old: 3.585 versus the current 4.1.
  • #3,368
  • Apr 10, 2009 7:40am Apr 10, 2009 7:40am
Quoting moneylender
Hi Justin

My prob is that I continuously run MB trading as per download from your site.
After its been running for 15 to 20 mins it uses all my PC's resources and freezes up the machine. I have tried it on 2 pc's and I spoke to a friend who also runs mb and she is getting the same problems.

i appreciate its difficult for a long range diagnosis but perhaps you could talk to you tech dept, I am sure we are not alone with this problem!

M
Facing same problem too, any web platform instead?
  • #3,369
  • Apr 12, 2009 12:42pm Apr 12, 2009 12:42pm
guys i have simple question : Can i at MB put an order inside the spread ? would other traders at MB see my order ? can they trade at my price ?
  • #3,370
  • Apr 12, 2009 1:17pm Apr 12, 2009 1:17pm
Quoting tar
guys i have simple question : Can i at MB put an order inside the spread ? would other traders at MB see my order ? can they trade at my price ?
You can use limit orders to enter an order at any price.

Yes, other traders would see your order on the market depth.

Yes, they can hit your price.
TRO
  • #3,371
  • Apr 12, 2009 1:39pm Apr 12, 2009 1:39pm
thanks ...

in theory thats good

do u have any experience in this way of trading ( pair , time , volume ) ?
  • #3,372
  • Apr 13, 2009 2:11am Apr 13, 2009 2:11am
can anyone post a screenshot for Gbp/usd market depth from their live account , i am using demo account and i dont c that much customers orders , i know live is diffrent can anyone post a screen shot please , and for G/yen as well ?

Thanks in advance
  • #3,373
  • Apr 13, 2009 3:09am Apr 13, 2009 3:09am
Jleblang

If i use ( cashbackforex ) to open an account with MB , they claim i will get a rebate of 24 % in your commissions , is this true ?

  • #3,374
  • Edited 3:35am Apr 13, 2009 3:31am | Edited 3:35am
On my demo account, the order server has been down, can anyone confirm having this problem too?

No online support available despite stated 24 hours?

Quote
MB Trading Customer Service is available from 8:30am to 6:00 pm EST. If you wish to email us, please supply us with your email address and a brief message, and we will respond as soon as possible.
Means trading during Asian & Euro market will be without support availability?
  • #3,375
  • Apr 13, 2009 3:59am Apr 13, 2009 3:59am
yeah there was some problems in the demo account ....
  • #3,376
  • Edited 7:20am Apr 13, 2009 7:07am | Edited 7:20am
While doing the demo it occurred to me that ECN most often has slippage. How large it could possibly get from your experience? So here's the question:

Does ECN cost (spread 1pip + commission 1pip equivalent + slippage could be 1-2pips?) worth spending compared to other 2 pip fixed spread brokers? I am in dilemma now. Any inputs please?
  • #3,377
  • Apr 13, 2009 11:20am Apr 13, 2009 11:20am
Quoting belief
While doing the demo it occurred to me that ECN most often has slippage. How large it could possibly get from your experience? So here's the question:

Does ECN cost (spread 1pip + commission 1pip equivalent + slippage could be 1-2pips?) worth spending compared to other 2 pip fixed spread brokers? I am in dilemma now. Any inputs please?
Well, that's an interesting question. I would say that less than 10% of my orders have any slippage, and the ones that do, it's usually on news.

You have stop limit order types that can be used to prevent ANY slippage if you want.

After nine months trading with them, I feel safe in stating that they don't play any pricing games.

So I think the question is not "Does ECN cost (spread 1pip + commission 1pip equivalent + slippage could be 1-2pips?) worth spending compared to other 2 pip fixed spread brokers?" (I assume you refer to EURUSD in that).

I think the question is: "Is complete control over your orders and a fee per transaction better than handing your broker a checkbook against your account with no tools and the ability to smoke you?"

But maybe it's just me...
  • #3,378
  • Apr 13, 2009 11:21am Apr 13, 2009 11:21am
Quoting enewbold
Hi. I'm very new to the MBT Navigator and can't figure out a couple of things yet. Like, if I enter a forex LIMIT order, where is it stored? I entered 3 different LIMIT orders (on the demo platform) last night, and now I can't see them to either change or remove them.

Thanks very much,
Ed in Columbus, OH
Dear enewbold ~

I apologize this was overlooked, have you figured out your question about limit orders?

If not, properly placed limit orders will display as pending in the "open orders" window. From there you may right click on an order to adjust or cancel.

Regards,
  • #3,379
  • Apr 13, 2009 11:23am Apr 13, 2009 11:23am
Quoting tar
Jleblang

If i use ( cashbackforex ) to open an account with MB , they claim i will get a rebate of 24 % in your commissions , is this true ?
I believe that is an old promotion that no longer exist.
  • #3,380
  • Apr 13, 2009 11:26am Apr 13, 2009 11:26am
Quoting belief
On my demo account, the order server has been down, can anyone confirm having this problem too?

No online support available despite stated 24 hours?

Means trading during Asian & Euro market will be without support availability?
belief ~

We always have a rep available via the University Support Icon on the contact us page of our website.
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