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Attachments: MB Trading Futures - Introduction
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MB Trading Futures - Introduction

Quoting kibescorp
I read on the MB Trading website that you can log in to your account in order to initiate a wire transfer (withdraw).

So if you want to make a withdraw from your account using a wire transfer, do you simply need your bank account number and routing number?

Is there anything you have to do on your bank's side each time before the money can be transferred, or can you initiate each transfer just from your MB Trading account?

And is there a limit to how much you can withdraw per wire transfer or in a given amount of time?...
kibescorp,

There is no limit to the amount of money you can withdrawal using a wire request. You won't need to do anything with your bank, but you will need the standard wiring information (acct numbers, aba numbers, bank address,etc), your bank can provide you with all wiring instructions pertaining to your account.
Quoting Hyper
The lower commission is good, but you are still more expensive than ATC Brokers for pairs such as EUR/USD and GBPUSD, who have, for quite a while now, charged 8 USD round turn per full lot.
JadeFX charges 5 USD per round turn lot.
Cheaper doesn't always mean better -

Little research on Jadefx will tell you that they are not registered with the CFTC or NFA due to the cost of registration. Meanwhile, MB Trading is a member of FINRA and SIPC for securities and CFTC registered FCM and member of NFA for FOREX.
Quoting BiggerPips
the question don't effect my trading, i will like to know what kind of volume you do per month, you don't have to be a public traded company to answer that question, most broker post there volume and there not public, any way i see you don't wanna answer that question, im just a little worry on the size of Mb Trading, 100k is no laughing matter when picking a broker.
I apologize, but we just don't release that information to public. If deposit security is your concern, than monthly volume shouldn't be your focus anyway. Please take a look at our Safety of Funds page: http://mbtrading.com/safetyandsecurity.aspx

Keep in mind, we have thousands of retail and institutional type customers all over the world, customer privacy and protection of their funds are our number one priority along with protecting our reputation which at this point is very respectable.
Quoting Trader KGB
JLB,

Great news about the new commission rate, good job.

Any thoughts on my question regarding liquidity peculiarities?
Trader KGB,

I don’t really have much to offer on that one. I think it’s clear that certain banks in our system keep a certain spread on key pairs, but typically there are other banks and providers inside of that quotes. As for the size thing, I don’t put a lot of stock in that. We have plenty of orders well over $1 mil (some WAY over) that get filled even though only $1 mil is showing. We can’t force banks to show their full size, but most of the time, banks are trading a lot bigger than that in reality. The analogy that somehow anyone with an order over $1 mil would get slipped on part of their fill on a market order doesn’t really hold up versus what actually happens.
Quoting jleblang
Cheaper doesn't always mean better -

Little research on Jadefx will tell you that they are not registered with the CFTC or NFA due to the cost of registration. Meanwhile, MB Trading is a member of FINRA and SIPC for securities and CFTC registered FCM and member of NFA for FOREX.
I did my research before opening a live account there so I already know this plus plenty of other bad stuff, yet I trade live there and things work Ok at the moment. When they don't I'll complain! I'm far from loyal to any broker; I have a live MB Trading MetaTrader account that I opened a while ago, plus live accounts at 14 other brokers.

The good thing about JadeFX was that their demo environment and live environment behave very much alike, whereas when I tried the MB Trading MetaTrader demo environment on a number of different occasions, it was quite bad - I kept getting the "Off Quotes" error and so couldn't close trades. I would only ever start trading live after I see that my Expert Advisor is working fine and profitably in the MB Trading demo environment.

So if you can confirm that your demo environment is Ok now I will resume testing my Expert Advisor in demo and then hopefully in live.
Quoting Hyper
I did my research before opening a live account there so I already know this plus plenty of other bad stuff, yet I trade live there and things work Ok at the moment. When they don't I'll complain! I'm far from loyal to any broker; I have a live MB Trading MetaTrader account that I opened a while ago, plus live accounts at 14 other brokers.

The good thing about JadeFX was that their demo environment and live environment behave very much alike, whereas when I tried the MB Trading MetaTrader demo environment on a number of different occasions, it...
Their demo environment works fine, but demo doesn't replicate real-world executions anyway. If you already know your EA works at another broker and can run it on MB for a day in Demo, you know you are good to go. Meanwhile, how in the world does someone open an account with a broker that isn't registered with NFA or CFTC in this day and age? Bernie Madoff anyone?
Quoting wannatradefx
Their demo environment works fine, but demo doesn't replicate real-world executions anyway. If you already know your EA works at another broker and can run it on MB for a day in Demo, you know you are good to go. Meanwhile, how in the world does someone open an account with a broker that isn't registered with NFA or CFTC in this day and age? Bernie Madoff anyone?
Easy. I'm Non-NFA all the way!! - ONLY the USA has silly FIFO and Hedging restrictions. NO other countries are rushing to copy those idiot rules. Only the good ole' USA restricts the way you can trade YOUR money. - I only trade where I have no restrictions on techniques and methods I can use to beat the market. - By taking away hedging and LIFO big biz has just shifted the odds that much more against you. - I'm sure the 95% that fail will go up to 98% near 99% with those rules. - I can only imagine what the NFA has up their sleeve for their next round of trader controls. Dubai Friday was a good example. I have a EURUSD BUY order thats been in place for 3 months on the daily chart and working GREAT! but Fridays Dubai debacle sent EURUSD tumbling 200+ pips. I entered a SELL and picked up another 150+ pips without having to close my BUY. I often trade on 2 timeframes Daily/15 minute and can work each one for its action - Also you cant even run 2 EA's at the same time on a NFA broker because they might want to go in opposite directions. - NO NFA for me!!
Quoting Aja
Easy. I'm Non-NFA all the way!! - ONLY the USA has silly FIFO and Hedging restrictions. NO other countries are rushing to copy those idiot rules. Only the good ole' USA restricts the way you can trade YOUR money. - I only trade where I have no restrictions on techniques and methods I can use to beat the market. - By taking away hedging and LIFO big biz has just shifted the odds that much more against you. - I'm sure the 95% that fail will go up to 98% near 99% with those rules. - I can only imagine what the NFA has up their sleeve for their next...
Wow, you make no sense. Go away.
Anyone have any experience with this broker with 1M + orders??
lowest draw down possible please.
Quoting wannatradefx
Wow, you make no sense. Go away.
Ummmm... What didnt make sense? I'll write it in crayon for you if needed. Meanwhile I'll keep hedging and adding to my account balance. You may want to trade with handcuffs on but I'm not into magic tricks just raw profits.
Quoting pa18
Good news on lowered commissions, about time!

A question on China accounts, this affects accounts opened in China or ...? Can you be a little more specific please Justin.
Can you answer my question please Justin?
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting Aja
Easy. I'm Non-NFA all the way!! - ONLY the USA has silly FIFO and Hedging restrictions. NO other countries are rushing to copy those idiot rules. Only the good ole' USA restricts the way you can trade YOUR money. - I only trade where I have no restrictions on techniques and methods I can use to beat the market. - By taking away hedging and LIFO big biz has just shifted the odds that much more against you. - I'm sure the 95% that fail will go up to 98% near 99% with those rules. - I can only imagine what the NFA has up their sleeve for their...
Aja, I agree absolutely with u. May I ask u which broker do u use now? Any other than ATC?
Quoting jleblang
I apologize, but we just don't release that information to public. If deposit security is your concern, than monthly volume shouldn't be your focus anyway. Please take a look at our Safety of Funds page: http://mbtrading.com/safetyandsecurity.aspx

Keep in mind, we have thousands of retail and institutional type customers all over the world, customer privacy and protection of their funds are our number one priority along with protecting our reputation which at this point is very respectable.
Justin,

One thing that's starting to annoy me a bit with MBT is that i cannot place or delete orders on Sunday (before the session opens). Is there a reason for this? I understand that the market doesn't open until later, but if I'm just deleting an order, I think your servers should be able to handle that. Is there a good reason to have the order servers off-line or are you just saving electricity in El Segundo?

Thanks!
Quoting jleblang
I don’t really have much to offer on that one. I think it’s clear that certain banks in our system keep a certain spread on key pairs, but typically there are other banks and providers inside of that quotes. As for the size thing, I don’t put a lot of stock in that. We have plenty of orders well over $1 mil (some WAY over) that get filled even though only $1 mil is showing. We can’t force banks to show their full size, but most of the time, banks are trading a lot bigger than that in reality. The analogy that somehow anyone with an order over $1...
JLB,

Thanks for the response. I concur on the displayed depth being different from the total available, I've seen this crop up on other platforms and have filled orders in excess of what was displayed w/o slippage. Essentially the banks are using reserve/Iceberg orders. I haven't put this to the test on MBT yet, but I'm optimistic the outcome will be the same (no slippage on >1M orders).
Quoting jleblang
kibescorp,

There is no limit to the amount of money you can withdrawal using a wire request. You won't need to do anything with your bank, but you will need the standard wiring information (acct numbers, aba numbers, bank address,etc), your bank can provide you with all wiring instructions pertaining to your account.
Thank you, this is very reassuring to know.

Primarily because one of my two current bank accounts is with Bank of America, which doesn't even have a physical location in my state (everything is managed online), so it would be impossible for me to have to physically go to a branch in order to initiate a wire transfer. And no limit for this type of transfer is a great thing to hear.
Quoting wannatradefx
Wow, you make no sense. Go away.
Not everyone learns from history.
jleblang,

I'm preparing to officially apply for a live account with MB Trading after months of using the demo account. The primary reason why I waited until the end of year is so that I could start trading in January and avoid filing taxes on earnings until 2011. It just didn't seem worth it to trade for a couple of months and then have to deal with the taxes immediately.

But I'm a little confused as to what exactly all of the fees are that are associated with starting out with a live account. The website says that there is a $50 setup fee and an annual recordkeeping fee. Are these the only fees that you have to pay apart from commissions, rollover, and wire transfer fees?

The annual recordkeeping fee is what is confusing to me right now. For option 1, it says I can pay $250 per asset. Does that basically mean $250 per account with MBT? And I assume that would be paid at the very beginning?

Option 2 allows you to pay a fee based on your account value. Well, assuming that you would be withdrawing funds from your account periodically, is the account value the maximum value that your account was worth at any time during the year? And so would this option then allow you pay the fee at the end of the year?

Not really sure which fee option to go with on this.

And I also wanted to know if I could fund my account (make the initial deposit) for the first time using the ACH method. I realize I have to fill out the form first to have it set up, but can your initial deposit be made using ACH or does it have to be a check deposit or wire transfer?

I want to try to use the ACH method for all deposits and withdraws for as long as it is within the limit.

Thank you!
what's the difference of normal wire transfer from ACH?
Automatic Clearing House (ACH) is third-party and allows for a certain amount of funds to be transferred without a fee, is what I believe. These are often used with recurring deposits or payments.

Standard wire transfers may come with hefty fees from either side, but they usually have no dollar limit. They go directly through the federal reserve, if I'm not mistaken.
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