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MB Trading Futures - Introduction

  • #4,341
  • Nov 30, 2009 10:45pm Nov 30, 2009 10:45pm
I am testing the MT demo. I closed 30 lots of 10,000 of EUR/CAD for $45 in commissions. This amounts to $7.50 per side per 100,000. The MBT website states $3.95 per $100,00. What additional fees am I not aware of?
"Vidi, Vici"
  • #4,342
  • Nov 30, 2009 10:55pm Nov 30, 2009 10:55pm
Quoting pa18
Can you answer my question please Justin?
Am I invisible or something? Can someone please tell me if you can see this message or as FF banned me for some reason

JUSTIN @ MBT

Sorry not being childish, just trying to get you attention, maybe you missed. Is there an answer for my initial question?

"A question on China accounts, this affects accounts opened in China or ...? Can you be a little more specific please Justin."
  • #4,343
  • Dec 1, 2009 12:16am Dec 1, 2009 12:16am
Quoting pa18
Am I invisible or something? Can someone please tell me if you can see this message or as FF banned me for some reason

JUSTIN @ MBT

Sorry not being childish, just trying to get you attention, maybe you missed. Is there an answer for my initial question?

"A question on China accounts, this affects accounts opened in China or ...? Can you be a little more specific please Justin."
Pa18,

Sorry, I didn’t realize it was unclear. If the address on the account is in China, the commissions remain the same.
  • #4,344
  • Dec 1, 2009 12:21am Dec 1, 2009 12:21am
Quoting Longbond
I am testing the MT demo. I closed 30 lots of 10,000 of EUR/CAD for $45 in commissions. This amounts to $7.50 per side per 100,000. The MBT website states $3.95 per $100,00. What additional fees am I not aware of?
Longbond,

Not sure what you are referring to. 30 lots of USDCAD = 300,000 USD. That’s $2.95 times 3 each way, which is $8.85 going in and $8.85 going out.

EURUSD = 1.5000 exchange rate, which basically means the same commission each way times 1.5 at the moment. That’s $13.27 in and $13.27 out. $26.54 total. Where did you see or get the $45? We have had no reported issues of this today.

I see that this is your first post on Forex Factory. Happens a lot when we have something exciting to announce. Since you have your facts incorrect about what is on our website, maybe you can private message me so we don’t discuss your account openly on these boards and then we will jointly report back to the group our findings.
  • #4,345
  • Dec 1, 2009 12:28am Dec 1, 2009 12:28am
Quoting jleblang
Pa18,

Sorry, I didn’t realize it was unclear. If the address on the account is in China, the commissions remain the same.
Thank you Justin.

I'm in Hong Kong, since HK is part of China since 1997, would I be paying the old commission rate?
  • #4,346
  • Dec 1, 2009 12:28am Dec 1, 2009 12:28am
Quoting InfinitySL
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!
Well....California is trying to lead the way in Green living

I'm sure there is a very good reason for it and I'll be happy to look into it for you.
  • #4,347
  • Dec 1, 2009 12:30am Dec 1, 2009 12:30am
Quoting pa18
Thank you Justin.

I'm in Hong Kong, since HK is part of China since 1997, would I be paying the old commission rate?
Please email me directly and we will verify your account paperwork to see.

[email protected]
  • #4,348
  • Dec 1, 2009 2:27am Dec 1, 2009 2:27am
Quoting jleblang
Longbond,...
Justin,

This may be my first post on this forum but I placed my first trade back in 1989. I thought it best to ask you directly since e-mails to your company take two business days to get a response back.

I have just a Demo account. I see no need to talk privately about my play account. I am in the right discussion thread-yes? Maybe if we talk about an off-topic discussion like the best pub, we need to talk in private.

To answer your question where I get $45.00 in commissions, I used simple mathematics. $25.11 profit for my first trade and $165.76 profit for my second trade. MT says my total profit is $145.84. My calculator shows the total is $190.87 and the difference to be $45.03. Do you see Justin where I get a loss of $45.03 which I assume to be fees you took out?

You stated that I am incorrect about what is on your website. I just checked and I see that I misquoted by one dollar. I guess some people get very mad when you make a mistake like that.

Justin can you explain why $45.03 was taken out? I see that you did not state what the commissions for EUR/CAD are in your reply. If $45.03 is incorrect, can you state the correct total fees for my transactions?
"Vidi, Vici"
  • #4,349
  • Dec 1, 2009 5:56am Dec 1, 2009 5:56am
question Justin, on your Nav platform in the spread colum it saids spread on GU 0.00027 witch is 2.7, is there a way you can make it a simple like 2.7 instead of 0.00027, thanks
  • #4,350
  • Dec 1, 2009 8:05am Dec 1, 2009 8:05am
Quoting jleblang
Well....California is trying to lead the way in Green living

I'm sure there is a very good reason for it and I'll be happy to look into it for you.
No problem - It's a minor annoyance in an otherwise very good platform/broker.

On another note, can you address kibescorp's concerns above? I assume he's mistaken about those huge fees - I was unaware of any such fees on MBT accounts...
  • #4,351
  • Dec 1, 2009 8:45am Dec 1, 2009 8:45am
Quoting Longbond
Justin,

This may be my first post on this forum but I placed my first trade back in 1989....
I trade some stuff on the demo account daily to test new EAs. While the live accounts dropped to $2.95 per 100,000 USD over the weekend, the Demo accounts did not. They were still $5.00 yesterday when you posted. Looking at my Demo at the moment, the fees are now $2.95. You should try your order again. But remember, $2.95 is PER 100,000 USD traded EACH WAY. One full lot on EURUSD is currently $150,000, which means if you buy and sell 10 10,000 lots EURUSD, the total charge is something like $8.85 roundtrip, which is way better than the $15 it was up until this weekend. Hope that helps.
  • #4,352
  • Dec 1, 2009 10:21am Dec 1, 2009 10:21am
Quoting kibescorp
jleblang,

I'm preparing to officially apply for a live account with MB Trading after months of using the demo account....
Kibescorp,

I just wanted to make sure that you were planning on opening an IRA account, as that is the only place where these fees would relate to. Since you originally stated that you were waiting for 2010 to trade to not deal with having to file taxes in 2009, I don’t think you are looking to open an IRA account because tax filing there is rather easy. Therefore, I’m guessing that you aren’t looking to open an IRA and these fees you are discussing do not apply.

Yes, ACH can be used for all deposits including your initial.
  • #4,353
  • Dec 1, 2009 10:22am Dec 1, 2009 10:22am
Quoting Longbond
Justin,

This may be my first post on this forum but I placed my first trade back in 1989....
Longbond,

Wannatrade is correct. The demo environment had not be set to the new lower rates on Monday. It is now and all fee's should accurately represent our website and new rate.
  • #4,354
  • Dec 1, 2009 10:22am Dec 1, 2009 10:22am
Quoting InfinitySL
No problem - It's a minor annoyance in an otherwise very good platform/broker.

On another note, can you address kibescorp's concerns above? I assume he's mistaken about those huge fees - I was unaware of any such fees on MBT accounts...
InfinitySL,

The main reason is that the ECN is not up and allowing orders when the banks aren’t connected and no one is at our office. It shuts down completely from Friday’s close to Sunday’s open.
  • #4,355
  • Dec 1, 2009 10:23am Dec 1, 2009 10:23am
Justin,

MBT website shows that web-based platform is currently in Beta. Is it possible to test it, if yes, could you please post a link for it? I couldn't find it on your website.

Also, possibly its just me, but I have this problem on several computers (Internet Explorer for browser) and on my phone (Android OS). When I browse MBT website and scroll down the pages, it is very difficult to scroll down with a mouse wheel, cause pages keep jumping to the beginning of the page, and you have to move the page down several times until it stops jumping up. Very annoying.

Thanks for your help and all your answers
  • #4,356
  • Dec 1, 2009 10:33am Dec 1, 2009 10:33am
Quoting DrainBamage
Justin,

MBT website shows that web-based platform is currently in Beta. Is it possible to test it, if yes, could you please post a link for it? I couldn't find it on your website.

Also, possibly its just me, but I have this problem on several computers (Internet Explorer for browser) and on my phone (Android OS). When I browse MBT website and scroll down the pages, it is very difficult to scroll down with a mouse wheel, cause pages keep jumping to the beginning of the page, and you have to move the page down several times until it stops jumping...
Nav Web is currently in Beta with a select group of live traders and I've been informed we are not accepting anymore at this time. However, you can log in with your demo by visiting NAV WEB to see the first release. Keep in mind this is only the first pass, and I'm demoing an even newer version with lots of great updates right now that I hope to have on the demo page shortly for everyone.

Website issues - probably related to an old version of IE. You need to have 7 or better.
  • #4,357
  • Dec 1, 2009 10:39am Dec 1, 2009 10:39am
Quoting jleblang
Nav Web is currently in Beta with a select group of live traders and I've been informed we are not accepting anymore at this time. However, you can log in with your demo by visiting NAV WEB to see the first release. Keep in mind this is only the first pass, and I'm demoing an even newer version with lots of great updates right now that I hope to have on the demo page shortly for everyone.

Website issues - probably related to an old version of IE. You need to have 7 or better.
Thanks for the link. Hopefully webb platform will go live soon

As for the website, I have the latest IE (8) on all computers, and different OS (XP and Vista), and I have the same issue on my Android phone which has a completely different browser (same core as iPhones, so probably iPhones will have the problem as well)
  • #4,358
  • Dec 1, 2009 10:41am Dec 1, 2009 10:41am
Quoting jleblang
Kibescorp,

I just wanted to make sure that you were planning on opening an IRA account, as that is the only place where these fees would relate to. Since you originally stated that you were waiting for 2010 to trade to not deal with having to file taxes in 2009, I don’t think you are looking to open an IRA account because tax filing there is rather easy. Therefore, I’m guessing that you aren’t looking to open an IRA and these fees you are discussing do not apply.

Yes, ACH can be used for all deposits including your initial.
Oh yes, you are correct! On the misc. fees page, it does state that those aforementioned fees apply to IRA accounts, which I guess would not apply to me.

Well, on the site it has listed the account types as: Corporate, LLC, Partnership, Trust, IRA, Sole Proprietorship.

I'm guessing the "standard" account type that most people go with would not be any of those listed above?

I'm basically looking to sign up for an Individual Account from this online application page:

https://www.mbtrading.com/fx/NewAccountType.aspx

Would this be the correct (standard) account type for an individual without any corporate ties?

But thank you for clearing that misconception up ... all this time I thought I needed to pay those couple of fees after setting up an account.
  • #4,359
  • Dec 1, 2009 4:41pm Dec 1, 2009 4:41pm
Quoting kibescorp
Oh yes, you are correct!...
You're welcome.

Yes, that link is the correct link for an individual account.
  • #4,360
  • Dec 1, 2009 4:42pm Dec 1, 2009 4:42pm
Quoting DrainBamage
Thanks for the link. Hopefully webb platform will go live soon

As for the website, I have the latest IE (8) on all computers, and different OS (XP and Vista), and I have the same issue on my Android phone which has a completely different browser (same core as iPhones, so probably iPhones will have the problem as well)
hmmm, this is a first for me then. We heard similar complaints when we launched the new website, but it was only affecting those with IE 6 or older.

Have you tried in Mozilla just for kicks?
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