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MBTrading integrated with Mt4

  • #1
  • First Post: Oct 3, 2009 11:24am Oct 3, 2009 11:24am
just got this yesterday...i've been pushing this since 2 years ago. IB was the only sound alternative. anyways, this is great news. if you dont know who MBT is then never mind.

i like this "removing the deal desk functionality of MT4" & "No restrictions against scalping." & "No requotes".....

if it is as they say it is....

MetaTrader 4 with MB Trading

Dear MBT Clients,

We are pleased to announce that MetaTrader 4, which is fully integrated into MB Trading’s True ECN Execution, is now available for live trading to the general public as a public Beta. As many of you are aware, we have spent countless amounts of time and energy completely removing the deal desk functionality of MT4, all while maintaining as much of the customer user experience as possible, including the automated trading components.

Integration Notes:

  1. FIFO compliant;
  2. Expert Advisors working on a trade ID basis;
  3. Immediate and anonymous posting of all Limit orders directly into the quotes for anyone else to see and execute against;
  4. No limitation on proximity of Limit and Stop orders;
  5. Direct routing of market orders through proprietary algorithms to obtain best-price execution against banks, customers, and other dark pools of liquidity;
  6. No requotes; and
  7. No restrictions against scalping.

{Promotion Removed}
  • #2
  • Oct 3, 2009 3:51pm Oct 3, 2009 3:51pm
Quoting jjk2
just got this yesterday...i've been pushing this since 2 years ago. IB was the only sound alternative. anyways, this is great news. if you dont know who MBT is then never mind.

i like this "removing the deal desk functionality of MT4" & "No restrictions against scalping." & "No requotes".....

if it is as they say it is....

MetaTrader 4 with MB Trading

Dear MBT Clients,

We are pleased to announce that MetaTrader 4, which is fully integrated into MB Trading’s True ECN Execution, is now...
This same situation has existed with ATC for quite a while now, for about half the commission cost of MBT...
  • #3
  • Oct 3, 2009 5:45pm Oct 3, 2009 5:45pm
oh i am not familiar with ATC. MBT also broker for stocks futures optinos etc.
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  • #4
  • Oct 3, 2009 9:10pm Oct 3, 2009 9:10pm
Quoting jjk2
oh i am not familiar with ATC. MBT also broker for stocks futures optinos etc.
Yeah the ATC MT4 is pretty good, but they only have forex. What I like about them is commission is $8/100K round turn regardless of pair traded. So, GU 100K is $8, whereas with MBT that same trade would be about $16 (100,000 Sterling=about $160,000 USD).

That really adds up over time! Of course it's a worse situation if trading AUD or NZD, but I trade mainly GBP and EUR pairs, so for me it's better.

FYI...

Peace
  • #5
  • Oct 4, 2009 1:14pm Oct 4, 2009 1:14pm
i remember demoing ATC & mbt and the trades were way better with mbt in demo and live than ATC all around. i have a beta mt4 MBT account but stopped using because of FIFO

and i have not seen spread lower than MBT on the AUD/NZD in anybody's mt4 In LIVE mode.. not one single broker.
  • #6
  • Oct 4, 2009 1:23pm Oct 4, 2009 1:23pm
First in First Out. is this for accounting ? sorry, i haven't been keeping up to date. Is tihs a problem for traders?

also, I dl'ed the MT4 MBT demo, however, it wont give me an id and password.
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  • #7
  • Oct 4, 2009 1:37pm Oct 4, 2009 1:37pm
First in First Out. is this for accounting ? sorry, i haven't been keeping up to date. Is tihs a problem for traders?

well, if you trade more than one pair, it could be a big problem for you. say you get your first trade in the eur/usd and then a second one in the eur/gbp. so your second trade is ready to be closed. but nope! can't close it! it was not the first trade opened! now you have to wait for the first trade to close and then watch your second trade loose because the first was not ready to be closed!

also, I dl'ed the MT4 MBT demo, however, it wont give me an id and password.

you have to go to their website and get on the live chat and talk to a MT4 specialist on the live chat options. they will give you the demo information in an email
  • #8
  • Oct 4, 2009 1:48pm Oct 4, 2009 1:48pm
Quoting hazelj80
well, if you trade more than one pair, it could be a big problem for you. say you get your first trade in the eur/usd and then a second one in the eur/gbp. so your second trade is ready to be closed. but nope! can't close it! it was not the first trade opened! now you have to wait for the first trade to close and then watch your second trade loose because the first was not ready to be closed!
Which broker uses this implementation of the FIFO rules?

Forex would be almost completely untradeable with these rules in place.
  • #9
  • Oct 4, 2009 2:02pm Oct 4, 2009 2:02pm
Quoting zznbrm
Which broker uses this implementation of the FIFO rules?

Forex would be almost completely untradeable with these rules in place.
No one. He has the description wrong. It doesn't apply to trades in different currencies. With the deal desks, if you open a EURUSD and then another EURUSD, you have to close the first one first. EURUSD and then EURGBP would not be related.
  • #10
  • Oct 4, 2009 2:11pm Oct 4, 2009 2:11pm
Quoting IndyTrader
No one. He has the description wrong.
Yes, he certainly does.
  • #11
  • Oct 5, 2009 1:53am Oct 5, 2009 1:53am
okay. is the description above in accurate? kinda had me scared there.
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  • #12
  • Oct 5, 2009 2:51am Oct 5, 2009 2:51am
Quoting IndyTrader
No one. He has the description wrong. It doesn't apply to trades in different currencies. With the deal desks, if you open a EURUSD and then another EURUSD, you have to close the first one first. EURUSD and then EURGBP would not be related.
This is the correct FIFO usage. 1 trade per currency is OK. FIFO basically kills Martingale Trading where you want to close out in last to first order to lock in the profitable trade. No Hedging kills peeps with long term positions that want to profit from short term reverse currency moves. For traders that know how to smartly use Martingale and Long/Short Trades those options are now gone in the USA.
  • #13
  • Oct 5, 2009 6:45am Oct 5, 2009 6:45am
Quoting Fulltime247
This is the correct FIFO usage. 1 trade per currency is OK. FIFO basically kills Martingale Trading where you want to close out in last to first order to lock in the profitable trade. No Hedging kills peeps with long term positions that want to profit from short term reverse currency moves. For traders that know how to smartly use Martingale and Long/Short Trades those options are now gone in the USA.
You can still run Martingale's on MB Trading's MT4, for example.

Hedging is a dumb concept to begin with. If you buy 10 EURUSD and it goes up and you think that the EURUSD is going to pull back, there is no real difference between being able to "hedge" (sell a new position while keeping the old long open) and selling your 10 long to buy back after the pullback. It's just a mindgame people play on themselves.

Having said that, where "hedging" can come into play is complicated strategies that might piece into several legs of a position and then start coming out while also having another strategy that is creating new positions in the other direction. However, this is also easily solvable with MB. Just open two accounts and tweak your EAs to run long side position entries in one account and short side position entries in the other. Works the exact same.
  • #14
  • Oct 15, 2009 10:41pm Oct 15, 2009 10:41pm
Well, I have been trying out the demo MBT MT4 and I am thoroughly disappointed with the feed. In two days, when I have tried to close trades at least on three occasions, I have got the message" no connection" even though the tick feed is still working.
Contacted Live Chat, and they said, "Yeh, it happens with the demo but not the live account." What idiot in their right mind would believe that. If they can't get it right with the demo, why have they solved the problem with the live? Surely, the demo is the one that sells the live?!?
I am giving up on their MT4 until they've got their act together a bit more.
FrankieB
  • #15
  • Oct 16, 2009 12:21am Oct 16, 2009 12:21am
Quoting FrankieB
Well, I have been trying out the demo MBT MT4 and I am thoroughly disappointed with the feed. In two days, when I have tried to close trades at least on three occasions, I have got the message" no connection" even though the tick feed is still working.
Contacted Live Chat, and they said, "Yeh, it happens with the demo but not the live account." What idiot in their right mind would believe that. If they can't get it right with the demo, why have they solved the problem with the live? Surely, the demo is the one that sells the live?!?
I am giving...
Too bad you think that because you're missing out on a great live environment. They have documented and discussed the issues with Demo here on these forums. I've been in Live since about June with Beta and no issues. Can't hedge in one account, but everything else is perfect and 100%.
  • #16
  • Oct 16, 2009 2:02am Oct 16, 2009 2:02am
Quoting IndyTrader
Too bad you think that because you're missing out on a great live environment. They have documented and discussed the issues with Demo here on these forums. I've been in Live since about June with Beta and no issues. Can't hedge in one account, but everything else is perfect and 100%.
Well said. I have been live for a few weeks now and no issues at all.
  • #17
  • Oct 16, 2009 1:17pm Oct 16, 2009 1:17pm
Hello all,

I have a strange problem with MBT MT4 platform, I cant use any stop orders nor limit orders.
For example lets say I bought 10 lots EUR/USD @ 1.4900 Market Order..
then when I try to put in a pending order sell stop lets say @ 1.4850 it says "Too Many Orders" ! and the same goes when limit orders for taking profit. What does that mean ? Is this related to the new NFA rules sorry I am not very familiar with it .. Or is it just a MT4 issue ?
Because everything is fine in the Navigator platform with no such problem.
  • #18
  • Oct 17, 2009 10:33am Oct 17, 2009 10:33am
Quoting salem_747
Hello all,

I have a strange problem with MBT MT4 platform, I cant use any stop orders nor limit orders.
For example lets say I bought 10 lots EUR/USD @ 1.4900 Market Order..
then when I try to put in a pending order sell stop lets say @ 1.4850 it says "Too Many Orders" ! and the same goes when limit orders for taking profit. What does that mean ? Is this related to the new NFA rules sorry I am not very familiar with it .. Or is it just a MT4 issue ?
[size=3]Because everything is fine...

Are you attaching the Take Profit and/or Stop Loss to the actual order, or are you placing new Pending Limit/Stops in the opposite direction?

If you are doing the former, then you are doing it correctly and it should work. I would contact their MT4 office to find out what is wrong.

However, the way you describe it (you used the phrase pending limits and stops), I think you are doing the latter, which is not correct. Essentially, the system views that you are trying to hedge by placing new trades in the opposite direction, which you can't do.
  • #19
  • Oct 17, 2009 2:39pm Oct 17, 2009 2:39pm
I had this problem and Live Chat informed me that the pending orders are added to the amount of margin used, even though you have not placed the order as yet. So if you are placing a separate order for SL or TP, you are essentially doubling the amount of margin used.
FrankieB
  • #20
  • Oct 17, 2009 2:48pm Oct 17, 2009 2:48pm
Quoting IndyTrader
Too bad you think that because you're missing out on a great live environment. They have documented and discussed the issues with Demo here on these forums. I've been in Live since about June with Beta and no issues. Can't hedge in one account, but everything else is perfect and 100%.
Thanks for the feedback Indy. It seems I will have to open the Live account, and get the feel of it with micro lots until I am comfortable with it. I had decided just to stay with Navigator after that experience. On thinking of it, the issue of filling the orders on a demo has nothing to do with the connection which worried me. I understand the problems with filling orders in the demo, but this seemed a different issue.
But it seems that customers are happy with the live account? I have read a few bad experiences with the live platform in beta--not being able to close out orders, and losing money in the process, which rang a few bells in my head. But micro lots gives me the chance to test it out, and not risk a bucket of money, and I could always transfer the money back to Navigator if I am not satisfied.
Frank
FrankieB
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