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MB Trading Futures - Introduction

  • #3,621
  • Jun 21, 2009 3:01am Jun 21, 2009 3:01am
Hi Justin, when would you expect the live MT4 platform released? I'm really looking forward to trading on it.

And what about web navigator? Have to say I never connected to quote server sucessfully with current demo account on it.
Take Profit is only one thing while Stop Loss means everything
  • #3,622
  • Jun 22, 2009 4:42am Jun 22, 2009 4:42am
Quoting aboofan
Hi Justin, when would you expect the live MT4 platform released? I'm really looking forward to trading on it.
Yes would have to second this.

You are one of the better ECN forex brokers. Connecting you to one of the best charting platforms (MT4), would make your trade commissions worth it, in my opinion.

Looking forward to the answer to the above question...
  • #3,623
  • Jun 22, 2009 9:02am Jun 22, 2009 9:02am
FYI

to all that trade at MB forex the ttos have changed back to the original settings pre 2009 it looks like this happened last week.

MB thanks for letting us know they were changing in early 2009 and thanks for filling us in on it last week. got to say i have been with mb for years almost the beginning but this is something i thought i would never see out of this firm. all firms have issues you have to pick the best of the worse. but to simple change the way an order reacts with no notice to customers that is simple unacceptable and untrustworthy

Doug
  • #3,624
  • Jun 22, 2009 5:19pm Jun 22, 2009 5:19pm
Quoting drkyle
FYI

to all that trade at MB forex the ttos have changed back to the original settings pre 2009 it looks like this happened last week.

MB thanks for letting us know they were changing in early 2009 and thanks for filling us in on it last week....
Drkyle-

Thank you for bringing this to my attention. We did some server updates as we have a new version of Navigator available tomorrow that eliminates the midnight maintenance for FX (moves it to 5 pm EST to coincide with the rollover period). The switch on the TTOs was not intentional and was simply an error made in the code that came with the update. It was a change that was not meant to be rolled out at this time and was an inadvertent error. Of course, if the intent had been to change the order logic, we would have notified our customers in advance.
  • #3,625
  • Jun 23, 2009 5:30am Jun 23, 2009 5:30am
Quoting steve930
I know they are still testing MT4 and they said they take it down from time to time. It was up pretty consistently until recently when mine went down for days.
I've been having trouble connecting to the MT4 demo server lately as well, but wasn't sure if was just me or it was offline for everyone.
That's why I checked in here....
  • #3,626
  • Jun 23, 2009 5:44am Jun 23, 2009 5:44am
Quoting jleblang
Drkyle-...
I can't say I have noticed a change - when applying a TTO to an open position I have to flip from buy to sell or vice versa every time and always have done. It has seemed quite illogical to do it this way, as the primary function to my mind of a TTO is to set a SL and TP, yet this is not reflected in the default setting in Navigator. But, after a couple of times of inadvertantly doubling up when I wanted to be exiting, I soon learnt to check my orders before executing.
  • #3,627
  • Jun 23, 2009 12:48pm Jun 23, 2009 12:48pm
Justin will you be opening applications for MT4 beta today?
  • #3,628
  • Jun 23, 2009 1:24pm Jun 23, 2009 1:24pm
Quoting fugly
Justin will you be opening applications for MT4 beta today?
As of right now we are planning on opening the application tomorrow around 12PM EST. I'll update when I know for sure.
  • #3,629
  • Jun 24, 2009 5:40am Jun 24, 2009 5:40am
I realise mbtrading is like any other bucket shop....I am have a live account with mbtrading....when u start trading more than 1 standard lots, they will start serious slippage and spikes....beware traders
  • #3,630
  • Edited 7:49am Jun 24, 2009 5:50am | Edited 7:49am
Quoting smart_trader
I realise mbtrading is like any other bucket shop....I am have a live account with mbtrading....when u start trading more than 1 standard lots, they will start serious slippage and spikes....beware traders
I've been with MBT for over 2 yrs. Yes, occasionally their prices do differ somewhat from, say, Oanda, but nothing I'd term as "serious".

As for the slippage, it depends what you mean: when price moves fast you are not much likely to be filled at the same price which you saw on the screen when your clicked the "Buy/Sell" button, that's pretty much standard with most brokers. If you are referring to Limit orders, the slippage is indeed there (why is that so, Justin, btw?!), but again nothing "serious".

On the other hand, if your fill is 2pips worse than you'd get with, say, Oanda, plus add commissions on top - on such a level the deal does not look attractive. That matters for scalping, for many strategies 4-5pips don't make much of a difference. Courses for horses.

Not counting institutional brokers, MBT are pretty good, on par with Oanda and Interactive Brokers. I like Oanda's transparency (you can alway check their platform prices for any given moment in the past); I don't like IB's trading platform. If one needs to move up a notch or two, TradeStation was recommended by many traders.
One Chart is Worth Ten Thousand Words.
  • #3,631
  • Jun 24, 2009 6:47am Jun 24, 2009 6:47am
Justin, could you please explain to those who don't use the 12-hr system: does 12PM denote noon or midnight? Thank you.

Quoting jleblang
As of right now we are planning on opening the application tomorrow around 12PM EST. I'll update when I know for sure.
sans peur et sans reproche
  • #3,632
  • Jun 24, 2009 8:12am Jun 24, 2009 8:12am
Quoting smart_trader
I realise mbtrading is like any other bucket shop....I am have a live account with mbtrading....when u start trading more than 1 standard lots, they will start serious slippage and spikes....beware traders
Well, less than 1.00 standard lots would have to go through a dealing desk where fills are more or less guaranteed (depending on the execution). When you trade volume that can actually go through to the market directly, you soon discover the evils of liquidity and the slippage that eventually happens to you on the real market. ECN is a different kettle of fish to dealing desk based retail forex
  • #3,633
  • Edited 1:39pm Jun 24, 2009 12:48pm | Edited 1:39pm
Today you have put a throttle/filter on the MT4 Price Feed (demo).

Neither the rate of price changes nor the actual prices presented very closely match the live Navigator.

Why?
Attached Image(s) (click to enlarge)
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  • #3,634
  • Jun 24, 2009 1:57pm Jun 24, 2009 1:57pm
Dear FF Members,

We have opened our On-Line Forex Application to accept a certain number of MetaTrader 4 accounts for public beta testing. Once we reach a certain number of accounts, the application will be shut off until we are ready for another wave of accounts. If you are interested in becoming a beta tester of MT4 with an ECN, please read through the following information and follow the links to start your application.

There are a couple of things that you need to know if you are going to fill out the application while it is open.

 

  1. You will have to sign a Beta Testing Agreement before you will be allowed to fund your account and trade.
  2. You will need to fund this account within 5 business days of account approval or we will be closing the account until we are out of Beta.

Those that are Beta testing for us will receive a rate of $3 per $100,000 while in Beta testing. Also, you will be able to just continue to use that account once the Beta has ended. Please note that Nav accounts and Meta accounts are not compatible at this time, so if you presently have a Nav account, you are going to have to open a separate account for MetaTrader. You can move money between Nav and Meta accounts same day with one form.

Finally, if you plan to run EAs in this account, please be sure that you have read about the differences between deal desk MetaTrader and ECN MetaTrader here:

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

And our FAQ here:

http://www.mbtrading.com/metaTrader4FAQ.aspx

And also, we highly recommend that you test your revised EAs in our Demo environment first.

Get Started Now:

Open your live account by visiting http://mbtrading.com/openAnAccount.aspx?id=Forex and selecting “open an individual account.”

  • #3,635
  • Jun 24, 2009 2:03pm Jun 24, 2009 2:03pm
Quoting Forex007
I've been with MBT for over 2 yrs. Yes, occasionally their prices do differ somewhat from, say, Oanda, but nothing I'd term as "serious".

As for the slippage, it depends what you mean: when price moves fast you are not much likely to be filled at the same price which you saw on the screen when your clicked the "Buy/Sell" button, that's pretty much standard with most brokers. If you are referring to Limit orders, the slippage is indeed there (why is that so, Justin, btw?!), but again nothing "serious".

On the other hand, if...
Forex007,

Can you clarify what you mean by slippage on a limit order? If you put in an order to buy EURUSD at 1.3600, you can’t get slipped above that price. It just can’t happen, so I need more explanation.
  • #3,636
  • Jun 24, 2009 2:04pm Jun 24, 2009 2:04pm
Quoting smart_trader
I realise mbtrading is like any other bucket shop....I am have a live account with mbtrading....when u start trading more than 1 standard lots, they will start serious slippage and spikes....beware traders
Smart_Trader,

There is zero difference on our platform on how orders are handled based on size. This is simply fictional. Could you please private message or IM me specific trade examples with slippage and I will look into them? Then, without revealing any of your info, we will discuss them on these boards. What you are saying just isn’t the case.
  • #3,637
  • Jun 24, 2009 2:05pm Jun 24, 2009 2:05pm
Quoting oakmonster
Well, less than 1.00 standard lots would have to go through a dealing desk where fills are more or less guaranteed (depending on the execution). When you trade volume that can actually go through to the market directly, you soon discover the evils of liquidity and the slippage that eventually happens to you on the real market. ECN is a different kettle of fish to dealing desk based retail forex
Oakmonster,

As we have covered many times on these boards, the statement is not accurate. There is no intermarket size requirement to get ECN fills. Only the desks want you to believe this. All of our orders are handled the same.
  • #3,638
  • Jun 24, 2009 2:05pm Jun 24, 2009 2:05pm
Quoting phy
Today you have put a throttle/filter on the MT4 Price Feed (demo).

Neither the rate of price changes nor the actual prices presented very closely match the live Navigator.

Why?
Phy,

I just verified. There were no filtering changes to the platform in the last day or even couple of weeks. I would expect, however, that tick volume was lower ahead of the Fed announcement today.
  • #3,639
  • Jun 24, 2009 2:14pm Jun 24, 2009 2:14pm
Quoting jleblang
Forex007,

Can you clarify what you mean by slippage on a limit order? If you put in an order to buy EURUSD at 1.3600, you can’t get slipped above that price. It just can’t happen, so I need more explanation.
When I setup a TTO order (which is just a combo of two Limit (Stop) orders), I'd expect either "leg" of TTO to be filled at those exact specific prices. In reality, oftentimes I am filled at TTO+2-3pips.
One Chart is Worth Ten Thousand Words.
  • #3,640
  • Jun 24, 2009 2:23pm Jun 24, 2009 2:23pm
TTO orders are market orders. Whenever one of the legs hits your price, the order becomes market order and will execute at market.

Quoting Forex007
When I setup a TTO order (which is just a combo of two Limit (Stop) orders), I'd expect either "leg" of TTO to be filled at those exact specific prices. In reality, oftentimes I am filled at TTO+2-3pips.
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