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MB Trading Futures - Introduction

  • #3,581
  • Jun 10, 2009 5:57pm Jun 10, 2009 5:57pm
Do the demo MT4 quotes show the same as the live MT4 quotes? Also, is there any way to get size info from the MT4? Size at bid/ask and is depth available?

Thanks!
  • #3,582
  • Jun 10, 2009 6:38pm Jun 10, 2009 6:38pm
Quoting FXEZ
Do the demo MT4 quotes show the same as the live MT4 quotes? Also, is there any way to get size info from the MT4? Size at bid/ask and is depth available?

Thanks!
normally they are exactly the same but there seems to be an issue on demo with a few pairs currently with live being current but the demo pair is 'stuck' at a certain price, but this the first time I've seen anything like this. It happen at the 5 window so I'm thinking there was a problem with a few pairs coming back online.
  • #3,583
  • Jun 11, 2009 1:08am Jun 11, 2009 1:08am
Justin-

MetaTrader deep in Beta.

Midnight Maintenance going away.

Web product launching.

When are you guys gonna lower commissions and own this market?

IndyTrader
  • #3,584
  • Jun 11, 2009 1:44am Jun 11, 2009 1:44am
Quoting IndyTrader
Justin-

MetaTrader deep in Beta.

Midnight Maintenance going away.

Web product launching.

When are you guys gonna lower commissions and own this market?

IndyTrader
IndyTrader-

That’s an interesting comment, but right now, we’re just interested in making Forex the best that it can be as a trading environment. The costs of doing that are what they are…
  • #3,585
  • Jun 11, 2009 1:57am Jun 11, 2009 1:57am
Quoting jleblang
IndyTrader-

That’s an interesting comment, but right now, we’re just interested in making Forex the best that it can be as a trading environment. The costs of doing that are what they are…
The bosses should give you a raise.

Seriously, I appreciate the support you give on this thread.
  • #3,586
  • Jun 11, 2009 3:09am Jun 11, 2009 3:09am
Quoting jleblang
MoeFX,

5 pm EST rollover will never go away. Let me explain.

All banks that communicate electronically for forex trading shut down for about 5 minutes at 5 pm EST. It is considered forex “end of day” and all trades are settled. There has to be a pause in trading for that to occur. The only way around this is to use a deal desk broker (i.e. if your broker doesn’t halt trading for a few minutes at 5 pm EST, they are a desk no matter what they say). Then, all of the banks reconnect.

The midnight maintenance shutdown was based on our Navigator...
thanks, one more ? since the midnight maintenane switch to 5pm will this 5pm delay take longer.
  • #3,587
  • Jun 11, 2009 9:18am Jun 11, 2009 9:18am
Justin, I have an MT4 demo account running several robot EA's. Every day they make many trades, and have been running with no glitches for 5 months. However on 6/9 17:40 EST and 6/10 16:00 EST two trades got "stuck". My robots tried to close them, but got "off quotes" error repeatedly. I cannot close them manually either. I also get "off quotes" errors. (Trades immediately prior and after these times were OK).

This happened last January, and I eventually had to ask your service guys to clear the trades. They had to clear my demo account history. I understand the developmental state of MT4, so that's no problem, however, I want to make sure that you guys know about the problem so it doesn't occur in the live system.
  • #3,588
  • Jun 11, 2009 10:00am Jun 11, 2009 10:00am
Quoting jleblang
To open a live account, visit MT4 Application and select "Open an Individual Account".
Hi. When I visit this link, I get the following message:

"Not accepting Metatrader Live Accounts at this time, contact MBT University for Metatrader Demo accounts."

I'd love to trade with MBT using MT4, but keep getting conflicting information. Can you clear this up for me? Should I call your company and speak with someone?

Thanks very much.
  • #3,589
  • Jun 11, 2009 10:54am Jun 11, 2009 10:54am
Quoting MoeFx
thanks, one more ? since the midnight maintenane switch to 5pm will this 5pm delay take longer.
MoeFX,

It should not. Typically about 5 minutes, give or take. Keep in mind that the market itself is ALWAYS thin around that time anyway because most of the world’s banks are closed, and it gets even thinner a few minutes ahead of rollover as banks take off their liquidity and prepare to wrap and settle the day. Then they all start to come back up. We see a lot of “thinness” of the symbols, particularly the exotic crosses, from about 4:45 pm EST until about 5:10 pm EST. We expect to go down at 4:58 on the dot and come back up around 5:05. Could it take a little longer on any given day? Sure, but a lot of the banks that we connect to are still coming back up at that point anyway. Either way, it should be much better than midnight.
  • #3,590
  • Jun 11, 2009 10:55am Jun 11, 2009 10:55am
Quoting MadCow
Justin, I have an MT4 demo account running several robot EA's. Every day they make many trades, and have been running with no glitches for 5 months. However on 6/9 17:40 EST and 6/10 16:00 EST two trades got "stuck". My robots tried to close them, but got "off quotes" error repeatedly. I cannot close them manually either. I also get "off quotes" errors. (Trades immediately prior and after these times were OK).

This happened last January, and I eventually had to ask your service guys to clear the trades. They had to clear my demo account history....
MadCow,

Thanks for the note, we do updates to Demo throughout the week, and when we do, orders that were already in the system, depending on their state at the time, can get stuck. When a lot of orders are stuck, we flush the whole environment (all positions and orders) after a major update and start again. Obviously, this is not done in the Live environment. I think you can expect that demo will get flushed completely this afternoon as we did a couple of big updates this week.
  • #3,591
  • Jun 11, 2009 10:58am Jun 11, 2009 10:58am
Quoting enewbold
Hi. When I visit this link, I get the following message:

"Not accepting Metatrader Live Accounts at this time, contact MBT University for Metatrader Demo accounts."

I'd love to trade with MBT using MT4, but keep getting conflicting information. Can you clear this up for me? Should I call your company and speak with someone?

Thanks very much.
enewbold,

The application has been closed again for Meta Beta as we filled up our quota within 36 hours. I apologize you missed the opportunity to join, but I'll be sure to post the moment we are opening it back up.
  • #3,592
  • Jun 11, 2009 4:53pm Jun 11, 2009 4:53pm
Attention Meta Users,

If you go over to the University webinars section of our site at this page and scroll down, you’ll see a new webinar on June 29. This might be of interest to a lot of you. Registration to these are limited, although we will begin regular Monday webinars on various aspects of MetaTrader starting in July (yes, that’s right, MetaTrader Mondays). But the first one will fill up quickly, so I suggest getting registered if you are interested.

http://mbtrading.com/webinars.aspx
  • #3,593
  • Jun 11, 2009 6:10pm Jun 11, 2009 6:10pm
Hi Justin, can you please answer these three questions that I have? (or anyone else knowledgeable)



1) If funding possible using a cashier's check? (Since I do not have a check book for USD, and don't want to pay the additional wire transfer charges on both sides of the transaction)



2) Can permanent Canadian citizens living in Ontario apply for an account? (It does not say explicitly on the website, but have heard from other sources that British Columbia and Alberta citizens cannot apply, but Ontario seems fine)


3) What are the minimum lot sizes allowed to trade? And how does this affect the commissions, since it is a rate. Is there even a minimum commission? (I'm asking this as I might trade in micro lots/ mini fractionals; for example, the charges for 1 micro is $0.05?? )


Thanks in advance
  • #3,594
  • Jun 12, 2009 5:15am Jun 12, 2009 5:15am
Quote
3) What are the minimum lot sizes allowed to trade? And how does this affect the commissions, since it is a rate. Is there even a minimum commission? (I'm asking this as I might trade in micro lots/ mini fractionals; for example, the charges for 1 micro is $0.05?? )


Thanks in advance

Hi,

I believe I can answer the last one, since I myself asked the same a few days ago... MBT defines one lot as 10000 units of the base currency of the pair (notice this is not the usual practice; for most brokers 1 STANDARD lot is 100000 units of the base currency). They allow you to trade as low as 0.1 of their lots, or 1000 units of currency.

Thus, if you want to speak in standard lots, the smallest amount you can trade with MBT is 0.01 (a standard microlot) or 1000 units of currency.

The commission is proportional to the size of the lot traded... they charge 10$ for every 100000 units of currency traded (10 of their lots) for US-based pairs (5$ when you open it, 5$ when you close it). For other pairs you have to do the math, but you get an idea (more info: http://mbtrading.com/commissions.aspx?page=Forex) . MBT's commissions are slightly on the high side.

Hope this helps.
  • #3,595
  • Jun 12, 2009 11:03am Jun 12, 2009 11:03am
jleblang hello.

I got a question about MT4 demo.

in the order window , right under "buy" and "sell" buttons I see this

"Notice! At order by market execution , the price will be quoted by dealer ."

I'm am kinda new to this, but I thought u r ECN.... and then who is a dealer?

again, sorry guys if i messed something up... but can you clarify this to me?
thanks a lot.
  • #3,596
  • Jun 12, 2009 12:38pm Jun 12, 2009 12:38pm
The Banks that are connected to MB are the Dealers(s):

http://www.mbtrading.com/metaTrader4Differences.aspx
  • #3,597
  • Jun 12, 2009 12:57pm Jun 12, 2009 12:57pm
Quoting Fulltime247
The Banks that are connected to MB are the Dealers(s):

http://www.mbtrading.com/metaTrader4Differences.aspx

thanks.
  • #3,598
  • Jun 15, 2009 12:05pm Jun 15, 2009 12:05pm
Quoting ForexSV
jleblang hello.

I got a question about MT4 demo.

in the order window , right under "buy" and "sell" buttons I see this

"Notice! At order by market execution , the price will be quoted by dealer ."

I'm am kinda new to this, but I thought u r ECN.... and then who is a dealer?

again, sorry guys if i messed something up... but can you clarify this to me?
thanks a lot.
ForexSV,

We cannot change anything inside of the MetaTrader Client software. Our license does not give us the code to their product. It only allows us to alter how executions occur to match off with our ECN. Therefore, messages that you see like that are just part of a standard MT4 product and have nothing to do with us.
  • #3,599
  • Jun 15, 2009 1:56pm Jun 15, 2009 1:56pm
Hi Justin:
I have been running your MT4 on a demo account. The demo account seems to hang up a lot and you solve it by flushing all trades. I get a lot of "off trades" and "off quotes" errors. This makes it difficult to evaluate expert advisers properly. This is not a complaint, just a statement. I know you are working on it.

Anyway, I have an account with MBT funded and ready to go, just waiting for you to "go live". Any idea what the live ETA is? Any openings for a beta tester?

Regards, Eddie

Quoting jleblang
Hello Everyone,

This is Justin LeBlang from EFX Group (MB Trading). As many of you might have noticed we have recently become a preferred broker with Forex Factory.

I am not here to promote EFX Group (MB Trading), but rather invite anyone who has questions to ask them. We look forward to hearing from you soon.

Sincerely,
  • #3,600
  • Jun 15, 2009 2:18pm Jun 15, 2009 2:18pm
Quoting eddieforex
Hi Justin:
I have been running your MT4 on a demo account. The demo account seems to hang up a lot and you solve it by flushing all trades. I get a lot of "off trades" and "off quotes" errors. This makes it difficult to evaluate expert advisers properly. This is not a complaint, just a statement. I know you are working on it.

Anyway, I have an account with MBT funded and ready to go, just waiting for you to "go live". Any idea what the live ETA is? Any openings for a beta tester?

Regards, Eddie
Eddieforex,

Regarding the Demo environment, as stated previously on these boards, we do updates and code tests in the environment. If we didn’t, we wouldn’t be moving forward. It’s just how it is until we cut the cord and go Live on the product (off Beta). Meanwhile, the Live environment is not updated during the week and has been handling just fine for several weeks now.

You stated that you have an account with us and just waiting to fund for us to go Live. Please note that if you have a Navigator account with us, you are going to have to open a completely different account through the on-line application for MetaTrader.

In terms of Beta testers, we will most likely be accepting our fourth group of Beta testers either later this week or next week, which means that we will open the online application for MetaTrader for about 24-48 hours. I always announce on this board before it happens. You then have to sign a Beta agreement and fund within a week or the account is closed.

As for a date that we come off Beta and go Live…I cannot give any ideas. You might find some clues in some of my recent posts.
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