And you probably are so talented that you'd make money even if they raised commissions to $500?
Do the analysis and cut down on the insults.
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I don't have a problem making money, I know that much. But that wasn't the point. The point is that people just like to whine. Look at MB Trading on the stocks, futures, and options side. They are ultra-competitive when it comes to commissions and have always lowered, lowered, lowered over the years. No one else really runs a system like theirs on the FX side. Don't you think if they could make it cheaper, they would? And I'm sure they will someday, but based on how they have always operated as a company, I'm guessing the costs of running a system like this (versus being an "ECN" that passes to one bank that kicks back part of the spread) is more than people think.
I don't have a problem making money, I know that much. But that wasn't the point. The point is that people just like to whine. Look at MB Trading on the stocks, futures, and options side. They are ultra-competitive when it comes to commissions and have always lowered, lowered, lowered over the years. No one else really runs a system like theirs on the FX side. Don't you think if they could make it cheaper, they would? And I'm sure they will someday, but based on how they have always operated as a company, I'm guessing the costs of running a system...
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I agree to the whining part, go somewheres else, why whine. The point is, for FX, their demo platform is screwy, their commissions are high and their spreads are beaten by other ECN's. As far as the demo, is MBT arrogant or just stupid?
If I'm attracting customers, while still keeping prices high, no way I'd lower prices. They're in the business of making money, just like any other business... $3 or $5 seems like very little, but you'd be very surprised at how much volume an average customer does. They make a killing!
I don't have a problem making money, I know that much. But that wasn't the point. The point is that people just like to whine. Look at MB Trading on the stocks, futures, and options side. They are ultra-competitive when it comes to commissions and have always lowered, lowered, lowered over the years. No one else really runs a system like theirs on the FX side. Don't you think if they could make it cheaper, they would? And I'm sure they will someday, but based on how they have always operated as a company, I'm guessing the costs of running a system...
For my part I choose MBT for a few reasons, and one of them is their commissions. The advantage of it is this: what they will bleed from your trades is known, predictable. What an advantage to other brokers who play all sorts of silly games to fleece your hard-earned cash from you. These are unknown factors. You don't know when they will bite you; or in what way.
On the other hand, you go in with eyes open with MBT, understanding you cannot operate carry trades with them because their rollover rates are just the pits (one source of income for them), and that they will charge commissions. That is known. And so is what you expect to pay. And it is factored into your thinking when you make the trades. You adjust your approach with these factors in mind. But what you also know---and this is the crucial point----is they are not going to play silly buggers with the feed for stop running or for forcing a margin call. And this is where it really counts because you spend all that time calculating a trade, and manipulation of the data stuffs up your best laid plans. If it is not hard enough trying to guess the market, it is even harder when you are trading with a broker who is doing his darndest to screw you broke.
MBT, with all the imperfections of their commissions and rollover rates are at least predictable and that is an important factor. I expect there are others like them, but for my money that is why I prefer them warts and all.
For my part I choose MBT for a few reasons, and one of them is their commissions. The advantage of it is this: what they will bleed from your trades is known, predictable. What an advantage to other brokers who play all sorts of silly games to fleece your hard-earned cash from you. These are unknown factors. You don't know when they will bite you; or in what way.
On the other hand, you go in with eyes open with MBT, understanding you cannot operate carry trades with them because their rollover rates are just the pits (one source of income for them),...
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Agree 100%.
First of all, the people who complain about MB Trading are seriously short-sighted and need to grab ahold of reality for a second. Or else be doomed to failure.
Compared to most brokers, MB Trading is respectable enough to put everything out on the table. And answer me this: why the hell shouldn't the broker get something out of your success? Without a broker, you'd be nowhere, and you sure as hell wouldn't have any funds to leverage your damn money. MB Trading's commission rate is already pretty damn generous, unless you're a scalper or something. And that, in and of itself, is a pretty dumb and risky way of trading, devoid of any real strategy or stability.
Also, I really don't understand why people bitch about the rollover. There's a 50% chance of gaining or losing money with any currency pair due to interest, depending on whether you're buying or selling, but I don't hear anyone praising MB Trading when they're going long on EUR/USD and getting money pumped into their accounts. Also ... last time I checked, even if you were going short on EUR/USD, you pay about a pip's worth of interest daily. If you're holding trades for more than a day, a pip shouldn't even matter at all anyway.
I'd much rather go with a large, well-known, multi-ranged broker like MB Trading that doesn't have anything to hide than some sneaky broker with whom I might save a few pips initially but will probably end up paying for it later on. That's the difference between people who can actually see the game for what it is versus people who are just too damn short-sighted to understand what's important and what they're actually getting out of a deal.
I am curious to know if there are any talks into the possibility of having funds in EURO or GBP?
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Ehrek,
As Justin has discussed on these boards, we are in the process of setting up the ability to accept foreign currency deposits as the base currency for your trading account, but at this time, I have no information as to when that might be available. My understanding is that the primary issue has to do with setting up with some of the banks in our system, not all of whom are compatible with this.
For my part I choose MBT for a few reasons, and one of them is their commissions. The advantage of it is this: what they will bleed from your trades is known, predictable. What an advantage to other brokers who play all sorts of silly games to fleece your hard-earned cash from you. These are unknown factors. You don't know when they will bite you; or in what way.
On the other hand, you go in with eyes open with MBT, understanding you cannot operate carry trades with them because their rollover rates are just the pits (one source of income for them),...
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FrankieB,
We appreciate and agree with your general premise, however, I would like to comment on our rollover rates. We actually do not profit from them. They are the way they are because we actually have no control over them. The rates are set by the banks that provide our liquidity. This provides higher liquidity and tighter spreads from key vendors for higher rate mark-ups. This means our primary focus is to be the broker for the active traders.
MB Trading Futures - Introduction
