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MB Trading Futures - Introduction

  • #3,861
  • Aug 10, 2009 7:26pm Aug 10, 2009 7:26pm
Quoting paradoxical
jbelang is a very nice guy. He avoids direct answers to questions and would make a great politician.
I'll take this as a compliment.
  • #3,862
  • Aug 10, 2009 7:28pm Aug 10, 2009 7:28pm
since this is the place for updates......

MBT on Twitter

New MBT Forums

New MBT Wiki
  • #3,863
  • Aug 10, 2009 7:54pm Aug 10, 2009 7:54pm
Quoting jleblang
offshorepip,

Phil did add you to the waiting list; I'm sure of that. The reason he probably suggested following me on FF, was so you could easily stay in the loop as to the progress of MT4. Typically if I have an update, this will be the first place I post it since we have such a large following here.

With regards to your concerns about the waiting list and getting on MT4 Live; don’t even worry about it. We have a streamline process for the MT4 applications now and as long as you take advantage of the next opening, you will be added.
So, I'm to check back here every hour on the hour and wait for your heads up and then Phil is going to email me when you have opened the webpage for new live MT4 accounts?

How long does it take before it fills up and it is shut down again?

I'm not sure how you can assure me all this when you cant even give a date as to when you are going to start taking new accounts, of which I'm not a new account at all.

And, do we really have to talk about this here. Can not MBt give you your own email address and then you and I can converse like normal.

I dont think I'm clear at all on how this process of notification works? What if I'm away from my computer for the afternoon?
  • #3,864
  • Aug 10, 2009 8:03pm Aug 10, 2009 8:03pm
Quoting offshorepip
So, I'm to check back here every hour on the hour and wait for your heads up and then Phil is going to email me when you have opened the webpage for new live MT4 accounts?

How long does it take before it fills up and it is shut down again?

I'm not sure how you can assure me all this when you cant even give a date as to when you are going to start taking new accounts, of which I'm not a new account at all.

And, do we really have to talk about this here. Can not MBt give you your own email address and then you and I can converse like normal....
[email protected]

You don't have to check back every hour on the hour and wait for my heads up. First of all - I will give more notice than, "The sites open run". I usually let everyone know a couple days in advance we are getting ready to turn on the app. Second - if you are on the waiting list you'll be sent an email as well notifying you when the app is open.

Typically the app is open for 24-48 hours; but remember your asking about a process that was for our very initial beta testers. Now we are in a much better position to allow many more users in and keep the app open for a longer period of time. We just have a few more things to finish up and test and then we should be good to go.
  • #3,865
  • Aug 10, 2009 8:05pm Aug 10, 2009 8:05pm
Quoting offshorepip
So, I'm to check back here every hour on the hour and wait for your heads up and then Phil is going to email me when you have opened the webpage for new live MT4 accounts?

How long does it take before it fills up and it is shut down again?

I'm not sure how you can assure me all this when you cant even give a date as to when you are going to start taking new accounts, of which I'm not a new account at all.

And, do we really have to talk about this here. Can not MBt give you your own email address and then you and I can converse like normal....
Jeez, man, just subscribe to this thread and you'll get an email when someone posts. When you see Justin post that the app is going to be open on Day X, you'll know when to be ready. Why is this so difficult?
  • #3,866
  • Aug 10, 2009 9:26pm Aug 10, 2009 9:26pm
Quoting IndyTrader
Jeez, man, just subscribe to this thread and you'll get an email when someone posts. When you see Justin post that the app is going to be open on Day X, you'll know when to be ready. Why is this so difficult?
High maintenance trader, that's why. And remember, you're just one of "a bunch of Mcdonald's employee wanna be traders".
  • #3,867
  • Aug 10, 2009 9:53pm Aug 10, 2009 9:53pm
Quoting steve930
High maintenance trader, that's why. And remember, you're just one of "a bunch of Mcdonald's employee wanna be traders".
Exactly. ROFL.
  • #3,868
  • Aug 11, 2009 7:47am Aug 11, 2009 7:47am
Quoting steve930
High maintenance trader, that's why. And remember, you're just one of "a bunch of Mcdonald's employee wanna be traders".
With a low maintenance life style if trading for a living with a $50K account as previously stated is anything to go by .

Why it was necessary to attempt to insult all the subscribers to this forum in such a crass way is beyond me. Fortunately I learned long ago that it is not what people say about one that is important, it's the quality of the person who says it that should decide whether or not offence should be taken so I'll wait until this character can afford to park his yacht next to mine in Monaco before I consider anything else he says as being even remotely interesting.

There is one relevant point that has been made though, you have to stop trying to make it so difficult for people to contact you privately Justin, I've just checked and you have only posted your e-mail address 1,248 (1,249 now) times in this thread, not to mention the total lack of contact info in your Member Profile, you really must pull your socks up you know, when is your next review due?
TTFN Merlyn
  • #3,869
  • Aug 11, 2009 2:02pm Aug 11, 2009 2:02pm
I just wanted to take a moment and thank MB Trading for eliminating Midnight Maintenance finally. It took too long, but it shows that you guys are really getting it. Now I don't have to worry around that time.
  • #3,870
  • Aug 11, 2009 3:13pm Aug 11, 2009 3:13pm
Quoting jleblang
Offshorepip,

While the charts in Navigator may say “Beta” on them, they really are fully functional with tons of indicators (if you have installed the new, latest version of Nav). I don’t think the “Beta” label will remain on them for long. As for other solutions, we plug into many charting packages that our customers have used up to this point as well. MetaTrader is the only product where you need to be in Live to use correctly.

Hey Justin,

sorry that I have to jump in on this one... so far I really like the service you guys provide - however charting in Nav still remains a thing to work on. Although all the indicators are there, the feed just isn't properly. Everytime I log in and bring up my 15 min chart (or any other chart) I have these really huge tails because the low every now and then is set to 1.0000 (I only trade EUR/USD - cannot tell for other pairs) and I ALWAYS need to rescale the window - sorry, but that's just crap. However support told me you are working on it. Other than that all fine.
  • #3,871
  • Aug 12, 2009 4:16am Aug 12, 2009 4:16am
Question regarding trader to trader matching ..

If I put in a a buy order at 100K and then someone else puts in a buy order at 1M after me at the same price, do you match me up with sell orders before that guy ever gets touched? Or will he jump the line if orders come in that fit him better than me (at that price)? I guess it's obvious if the price moves, I'll always get precedence, right?

Also, do can you enter trades to 5 decimals for USD/CAD? Or just 4?
  • #3,872
  • Aug 12, 2009 12:22pm Aug 12, 2009 12:22pm
Hi Justin,

Can you advise me please on what funds protection MBT gives for Forex Accounts?

Does MBT plan to have the option for customers to open accounts in other currencies other than USD? i.e GBP or EUROs?

I wait to hear.

Regards
  • #3,873
  • Aug 12, 2009 2:20pm Aug 12, 2009 2:20pm
Quoting Bazuka77
Hi Justin,

Can you advise me please on what funds protection MBT gives for Forex Accounts?

Does MBT plan to have the option for customers to open accounts in other currencies other than USD? i.e GBP or EUROs?

I wait to hear.

Regards

 MBTF is insured with a Fidelity Bond 14 from a member company of American International Group, Inc (AIG), which protects the assets of MBTF against loss resulting from fraudulent acts committed by the management of employees of MBTF. In the unlikely case from various types of fraud, theft, or embezzlement the Bond offers the protection up to $1,000,000 per occurrence.

Another feature of the fidelity bond is the 'Forgery or Alteration Agreement' covers loss resulting from forgery of a signature or alteration involving most types of negotiable instruments. Also, losses resulting from written instructions directed towards the insured that have been altered, or bear a false signature, are covered.

However, please be noted that the bond does not insure against risk exposure on market loss.


While we would like to offer accounts in other denominations; I am unaware of plans to do so at this time.
  • #3,874
  • Aug 12, 2009 4:59pm Aug 12, 2009 4:59pm
Thanks Justin,

So if MBT went bust, is there any protection for Forex client Funds?

Looks like not from what you have said, or should I say not said.

Please advise if I have misunderstood.

[quote=jleblang;2950392]
MBTF is insured with a Fidelity Bond 14 from a member company of American International Group, Inc (AIG), which protects the assets of MBTF against loss resulting from fraudulent acts committed by the management of employees of MBTF. In the unlikely case from various types of fraud, theft, or embezzlement the Bond offers the protection up to $1,000,000 per occurrence.

Another feature of the fidelity bond is the 'Forgery or Alteration Agreement' covers loss resulting from forgery of a signature or alteration involving most types of negotiable instruments. Also, losses resulting from written instructions directed towards the insured that have been altered, or bear a false signature, are covered.

However, please be noted that the bond does not insure against risk exposure on market loss.
  • #3,875
  • Aug 13, 2009 12:42am Aug 13, 2009 12:42am
Hi Justin .. is this question OK to ask?

Quote
Question regarding trader to trader matching ..

If I put in a a buy order at 100K and then someone else puts in a buy order at 1M after me at the same price, do you match me up with sell orders before that guy ever gets touched? Or will he jump the line if orders come in that fit him better than me (at that price)? I guess it's obvious if the price moves, I'll always get precedence, right?

Also, do can you enter trades to 5 decimals for USD/CAD? Or just 4?
  • #3,876
  • Aug 13, 2009 10:29am Aug 13, 2009 10:29am
Hi,

unfortunately MBT FX customer funds are not segregated, that means that they are not protected in case of bankrupcy.

Justin could confirm that but there is a question I would like to ask him:

Fx customer funds are not segregated because US current legislation does not require that or because US current legislation doesn't allow segregation of fx customer funds?

if the former is the case...

I know that MBT business model could represent a better warranty itself (in that, unlike the dealing desk brokers, MBT doesn't take trader's opposite position), but in the business world anything could happen...

ciao,

Johnlucas.


[quote=Bazuka77;2950756]Thanks Justin,

So if MBT went bust, is there any protection for Forex client Funds?

Looks like not from what you have said, or should I say not said.

Please advise if I have misunderstood.

Quoting jleblang
[font=Arial][size=2][color=black]MBTF is insured with a Fidelity Bond 14 from a member company of American International Group, Inc (AIG), which protects the assets of MBTF against loss resulting from fraudulent acts committed by the management of employees of MBTF. In the unlikely case from various types of fraud, theft, or embezzlement...
  • #3,877
  • Aug 13, 2009 12:18pm Aug 13, 2009 12:18pm
Quoting johnlucas
Hi,

unfortunately MBT FX customer funds are not segregated, that means that they are not protected in case of bankrupcy.
This is not entirely accurate:

From an accounting and operating standpoint, customer’s non-margined Forex funds and MB Trading Futures, Inc.’s (“MBTF”) operating funds are separately maintained. MBTF maintains a separate account at Wells Fargo Bank, a federally insured bank, for the exclusive benefit of customers in which Forex funds that are not used to satisfy margin or trading requirements will be deposited for safekeeping. Forex funds that are held in the separate account will not be used in the day-to-day operations of MBTF. While Forex funds are separated from MBTF’s operating funds, they are not segregated as defined under CFTC regulations.

As stated previously, this would not protect against bankruptcy.
  • #3,878
  • Aug 13, 2009 12:21pm Aug 13, 2009 12:21pm
Quoting blazespinnaker
Question regarding trader to trader matching ..

If I put in a a buy order at 100K and then someone else puts in a buy order at 1M after me at the same price, do you match me up with sell orders before that guy ever gets touched? Or will he jump the line if orders come in that fit him better than me (at that price)? I guess it's obvious if the price moves, I'll always get precedence, right?

Also, do can you enter trades to 5 decimals for USD/CAD? Or just 4?
All orders are first come first serve seeking best price available.

Yes, you can place orders at 5 decimals....for instance limit order to buy USD/CAD at 1.08655. I also suggest placing orders with 5 decimals, especially between the spread if you do not need a market order to be filled at that exact moment.
  • #3,879
  • Aug 13, 2009 7:01pm Aug 13, 2009 7:01pm
How come I see the market depth change constantly even though my orders are not getting executed? Is it because there is 0 volume and these orders are all just getting canceled/modified? I find that hard to believe...
  • #3,880
  • Aug 13, 2009 7:35pm Aug 13, 2009 7:35pm
Quoting blazespinnaker
How come I see the market depth change constantly even though my orders are not getting executed? Is it because there is 0 volume and these orders are all just getting canceled/modified? I find that hard to believe...
Is the price moving through your order? If so, there is no reason you shouldn't be filled. Is this on the MBT Navigator or MT4? I'd really need to explore this first hand with your account information, order information including price, type and time. Probably best to email me directly at [email protected] with all the details including your live account number.
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