MB Trading Futures - Introduction

You can actually stop griping and stop running MB Demos. If you're looking to run a medium to long term test FORGET IT!! The demo is FOR THEM NOT YOU!! If you wanna run a scalping EA just to test it for a couple days you're good other than that dont even think about it!

Agree with Fulltime247.

The demo environment with MBT mt4 is just too aggravating .
Its a test of patience -))

Anyone tried the chat function on the mbt site lately ?
i tried it on FF and IE 8 and both warned me that the site is dangerous...had a shock as I had chatted with them before. Just wondering if anyone else had this experience.

Unless u are fortunate enough for now to get a live mt4 with them then stay away from their demo or u'll develop a negative bias towards mbt -))

On the positive side, I've been on currennex for many years and the quotes are quite close altho a tad slower most times. So as far as prices go m quite pleased. ( Navigator vs currennex ). Basically I use mbt as my 2nd broker.

Can someone explain what MB Trading has done to get around the NFA's new rule regarding stops/limit orders that went into effect last month?

In the Navigator demo environment, you can still place stop and limit entry orders. Was Navigator even affected by this, or was it only MT4? (In which case, I wouldn't know.)

What I'm asking is, on the LIVE Navigator trading platform, are you able to enter positions using stop/limit entry orders, right now? Or are you limited to TTOs?

Hedging has been impossible for a while, but I've been able to set stop/limit orders with the demo (Navigator, NOT MT4).

If the FIFO rule has anything to do with this, I personally have never "added" more lots to a position. Never had a reason to.

I would suggest using the Beta Charts for now. MT4 demo charts are exactly that, demo and while we are in Beta with Meta it is possible to see erroneous pricing. All charting bugs are being worked out.

kibescorp - I posted this in August, should help you get up to speed.

Since there are a couple of questions about MetaTrader on the thread in the last day, I’m going to give you an update without replying to anyone in particular.

 

1. We have a couple of hundred Live Beta users. The Live environment has been functioning now for four months. We’ve had no issues with trades, connections, or anything in the Live environment for over a month.
2. When rolling out a software product, we can’t just look at one day and say, “OK, no issues, we’re good to go.” We have a threshold of number of days in the Live environment without issues to meet before we can go wide with the product. It is safe to say that that threshold had been met by the trading in the last month. We have a lot of extremely active Live users employing active EAs as well as manual traders.
3. The issue now is FIFO. Because of that new rule, MetaQuotes needed to update their software, which includes the Meta Servers and the Meta Client (what you use as a customer) and other components. Keep in mind that we are not a desk, so whatever their solution was going to be, the issue was whether or not their changes would affect how our “bridge,” if you will, worked with their new server implementation. Keep in mind that their fix completely changed how positions were handled, and that is all inside of Meta, which is deal desk software. We have to make it so that our bridge takes that information and properly applies it to orders passing through the ECN. We didn’t get the MetaQuotes FIFO update until less than two weeks ago. It came as no surprise to us that it completely threw off how our system interacted with MT4. So, we already had in motion a different solution, which we are now employing. This solution is actually more robust because it will continue to allow the full EXISTING (non-FIFO adjusted) functionality of the MetaTrader platform AND will now allow you to trade the same account through the Navigator if you wish and get your statements on-line like a Nav account instead of through MetaTrader (because our statements are FIFO-based and the MetaTrader ones aren’t).

While this requires no changes in how the orders interact with Meta and our ECN, it is a significant structural change at the backoffice side in terms of accounts and reporting. Once it is complete, once again, we need to make sure that it runs fine with the Beta testers that we have and get any additional feedback. As no issues arise, then we will start adding Beta testers again, but since we already know the trading component is working, we won’t need to add too many before we take off the Beta label.

So there is your update. The rumors of issues with our MetaTrader are greatly exaggerated. For the most part, there is a reason that no one else has successfully separated MT4 from the desk features in the past. However, I can tell you that the people that are in our Beta, some of whom have commented on these boards, are extremely pleased with how it is working. By the way, for those that run EAs that actively trade both directions and are affected by hedging not working, we already have customers that have a solution in the Live environment. They are opening two accounts and adjusting the EAs to run the same variables but only trigger the longs in one account and the shorts in another. FIFO won’t really have an impact as it is really a reporting/statement issue from our perspective, so you should be able to use MT4 as it was meant to be used, with hedging handled by having two accounts, and no other limitations and no “deal desk” issues very soon.

Let me say once again, our Demo environment is where we are doing the code testing. The Demo environment was very stable in June because we had a working product, and that led to the successful weeks of Live trading. However, with the FIFO thing, we’re recoding, and that affects the Demo environment. It doesn’t impact the Live environment, which remains “as is” until the code is successfully tested in Demo. So if for some reason you are trying to equate the behavior of the Demo environment to where we are currently at with the product, that would be a mistake.

Second Reply for further clarification:

MB Trading has never shown multiple positions for the same currency pair and always shown an average basis price.

If you bought 30 lots at three different prices (1.4150, 1.4200, 1.4225), you would have one position showing with an average basis price (1.4191). All stops and limits would apply to the basis price, not the original entry price of one of your entries.

Thank you for the response.

So then am I correct to conclude that the FIFO rule is not an issue for MB Trading at all since only one position can exist for a currency pair at a time?

I assume then that all entry orders (limits, stops, TTOs, trailing stops, etc.) can currently be used in the live environments? I ask because I have yet to trade live on Navigator; I am only familiar with the situation of the demo environment at this time.

Correct. FIFO rules from a customer standpoint we're a non-issue. We had to make some changes to our reports, but that has been completed.

Yes, all entry orders are available in the live environment using the Navigator.

Hi Justin,

Thanks for the updates. I have question regarding the maximum size order the MBT Metatrader platform will handle. In using MT4 in the past with other brokers I believe the max lot size allowed within the platform was 50 standard lots. Will this be the limitation in the MBT version of Metatrader as well or has that maximum been removed?

Thanks

Maximum order size is $10,000,000 or 1000 lots. (1lot=10k)

I sincerely hope to have that limit become a problem for me someday!!

ATTENTION MT4 Users:

Wednesday, September 23rd we will be opening up the Beta application for MT4 users for the last time. It should be open around 12:00 PM PST for most of the day, providing sufficient time to submit your application.

I will post here on Wednesday when it opens, but feel free to email me at [email protected] to be added to the announcement list. Additionally, you can add yourself to twitter.com/mbtrading for updates as well.

good news! thanks

I'd like to repeat my question:
"Assume I've placed these orders:
1. 1 Lot Buy Stop @ 91.00 USDJPY
2. 1 Lot Buy Stop @ 92.00 USDJPY
3. 1 Lot Sell Stop @ 89.00 USDJPY
4. 1 Lot Sell Stop @ 88.00 USDJPY

Why MBT is calculation $4000 for used margin (instead of $2000)? There won't be opened more than 2 Lots in one direction at any time! The open position size can vary from -2 Lots to +2 Lots.

The same is with opened Position and placed TP and SL.
Assume this example:
1. Opened position Long 1 Lot @ 91.00 USDJPY
2. TP - Limit Order Sell 1 Lot @ 92.00 USDJPY
3. SL - Stop Order Sell 1 Lot @ 90.00 USDJPY
Why margin used is $2000 (instead of $1000)? There won't be opened more than 1 Lot at any time!

Can this be corrected by MBT ?"

Thank you

Dear MT4 user,

We have opened our On-Line Forex Application to accept a certain number of MetaTrader 4 accounts for public beta testing. This will be the final round of beta applications before live production. 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.

• You will have to sign a Beta Testing Agreement before you will be allowed to fund your account and trade.
• 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.

Once we are out of beta, you will be able to continue using your new account once the Beta has ended. Please note that Nav accounts and Meta accounts are now compatible, but you will still need to open a new account at this time to use MetaTrader 4. You will end up with Navigator and MetaTrader 4 accounts with the same account numbers. All statements are generated through our on-line FIFO statement process. MetaTrader statements have been disabled due to the new NFA FIFO requirement.

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.”

NOTE: You’ll see a message that say’s “Not accepting Metatrader Live Accounts at this time” – you can disregard that during this period.

Thank you for your patience and interest in MB Trading.

Hello again,

I had heard that many U.S.-based FXCM clients had their accounts transferred to FXCM's U.K. branch after the NFA passed their rule last month.

Many expressed that they liked the U.K. accounts because their funds were "insured" and "segregated" from the brokers' funds, much like the FDIC insures banks here.

I wanted to know if MB Trading also has any non-U.S. branches or if it is solely based here in the U.S.?

In addition, sir, you mentioned that the MetaTrader platform has a limit of $10,000,000 or 1000 maximum lots per trade? Is that also true for the Navigator platform?

Thank you!

All MB Trading accounts are US held; however from an accounting standpoint all funds are held separate and never used for company operations.

Trade minimum and maximum is the same for MT4 and Nav.

Justin,


If Nav and mt4 will become synced then if I already have a Nav account but opened an mt4 live yesterday, could ur office just tie it in with my current Nav account ??
Can the funds in the Nav be used on MT4 ? ie: fungible

This will save me a lot of admin. work -))

Justin i have a question. lets say im long 100k at 1.6500 with s/l at 1.6450. but i also want to sell 100k at 1.6450 because i think this is where the trend will change, do i set the lower bound on tto at 200k 1.6450 so this will close my 100k long and put me in 100k short.

traderfx,

The thought process is correct, but the problem is not only will your 'lower trigger' have a sell for 200k, but your 'upper trigger' will as well when using a TTO. Unless you plan to place your 'upper trigger' at an unreasonable price to avoid being triggered, I would place either a 'sell stop market' order for 200k without the upper trigger or a separate 'sell stop market' for 100k at 1.6450 all together.

Hope this helps.