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MB Trading Futures - Introduction

  • #4,541
  • Jan 4, 2010 1:13pm Jan 4, 2010 1:13pm
Quoting shrike
So where is the big announcement that has been announced for the new year?
i hope it wanst that they will start excepting accounts in diffrent currency. hope there more to the story.
  • #4,542
  • Jan 4, 2010 2:25pm Jan 4, 2010 2:25pm
how many days it takes to withdraw by international wire ?

how many marketmakers MB deal with ?

is slippage a real issue with MB or rare ?

spreads during news ( NFP , FOMC ... ) is it widened reasonably for seconds only or ... ?
  • #4,543
  • Jan 4, 2010 3:41pm Jan 4, 2010 3:41pm
Quoting BiggerPips
i hope it wanst that they will start excepting accounts in diffrent currency. hope there more to the story.
I would imagine that's a pretty big announcement. I cruise around on a lot of other boards and it seems like most traders out of the US won't open with MB because of the currency thing alone. Otherwise, they would love to. Doesn't affect me cause I'm here in the US, but I would think it opens the door for a lot of people that have been waiting for exactly that.
  • #4,544
  • Jan 4, 2010 4:26pm Jan 4, 2010 4:26pm
Quoting wannatradefx
I would imagine that's a pretty big announcement. I cruise around on a lot of other boards and it seems like most traders out of the US won't open with MB because of the currency thing alone. Otherwise, they would love to. Doesn't affect me cause I'm here in the US, but I would think it opens the door for a lot of people that have been waiting for exactly that.
  • #4,545
  • Jan 4, 2010 5:21pm Jan 4, 2010 5:21pm
Quoting tar
how many days it takes to withdraw by international wire ?

how many marketmakers MB deal with ?

is slippage a real issue with MB or rare ?

spreads during news ( NFP , FOMC ... ) is it widened reasonably for seconds only or ... ?
tar,

There is a two day settlement period on trades placed in Forex accounts before funds are available for withdrawal. If you closed a position today consuming the funds you wish to withdraw, the funds will not be available to receive for two business days.

MB Trading connects with over a dozen qualified destinations.

I'll comment on your last two questions, but would prefer a live account holder to step in and comment.

Slippage is a rare occurrence with MB Trading and when slippage does occur it is usually contained to a very minimal due to the amount of providers and client orders in the system.

Our spreads typically don't widen during news announcements.
  • #4,546
  • Jan 4, 2010 6:16pm Jan 4, 2010 6:16pm
Justin,

I received confirmation that my ACH transfer request was finally established today ... but the problem is, I logged in to my account to find that an ACH transfer of $0.08 (from bank to trading account) had been made automatically by the system.

Is this standard protocol (I assume this is to test the bank account and the relationship that has been setup), and do I need to wait 3 business days for this "test" transfer to complete, or can I perform a real ACH transfer right now (to transfer REAL funds) so that I can begin live trading next week?

I don't want to risk a failed ACH transfer attempt because of this.

Also, is there any way to change or add a new phone number to your account profile through the online account manager? Trying to add a new mobile phone #. When I log in, it seems I can only view my personal information, but not edit.

Thanks!
  • #4,547
  • Jan 4, 2010 9:24pm Jan 4, 2010 9:24pm
Quoting jleblang
tar,

There is a two day settlement period on trades placed in Forex accounts before funds are available for withdrawal. If you closed a position today consuming the funds you wish to withdraw, the funds will not be available to receive for two business days.
in the system.

.
even if i want to whithdraw some of my funds not all ?

after 2 days how many days it needs to leave my account , is it processed immedietaly ? and then how many days to recive them into my bank account ?

Thanks
  • #4,548
  • Jan 4, 2010 9:27pm Jan 4, 2010 9:27pm
Quoting jleblang
tar,



MB Trading connects with over a dozen qualified destinations.

Then y most of the time i c the same spreads for example 0.9 for the EUR , 1.9 for the Pound , 1 for EUR/GBP ?
  • #4,549
  • Jan 5, 2010 12:02am Jan 5, 2010 12:02am
Quoting tar
Then y most of the time i c the same spreads for example 0.9 for the EUR , 1.9 for the Pound , 1 for EUR/GBP ?
Those spreads alone are pretty tight and I'm guessing that one or two of the biggest banks in MB's system show those spreads, while the others are generally a bit wider and simply supply extra liquidity. Looks pretty obvious when you stare at the quotes.
  • #4,550
  • Jan 5, 2010 1:42am Jan 5, 2010 1:42am
Quoting wannatradefx
Those spreads alone are pretty tight and I'm guessing that one or two of the biggest banks in MB's system show those spreads, while the others are generally a bit wider and simply supply extra liquidity. Looks pretty obvious when you stare at the quotes.
yeah i thought maybe this is the case as u said ...
  • #4,551
  • Jan 5, 2010 2:04am Jan 5, 2010 2:04am
Ok , i have anotehr questions :
Is there any public data about the # of clients and how much money they have with u ?

Can i tranfer funds between my forex account and stocks account ?
  • #4,552
  • Jan 5, 2010 2:59am Jan 5, 2010 2:59am
Justin, is it (or will be) possible to switch a dollar account into euro account? Or open a second account and then transfer dollars from the first account to the second, and you guys would change dollars into euros at that time's rate?

Thank you for your answer and patience
  • #4,553
  • Jan 5, 2010 6:16am Jan 5, 2010 6:16am
Another question : I am looking at the market depth i c size goes from 100 to 99 then back to 100 , i guess one of your clients hit the bid or the offer , my question is : when a client hit the bid or the offer by micro lots only ( less than 10k ) does the size changes from lets say 100 to 99 or it keeps showing 100 ?

Thanks Justin
  • #4,554
  • Jan 5, 2010 10:46am Jan 5, 2010 10:46am
Also another question Justin : the volume shown in MBT nav demo charts , is it MB clients volume for both the live and demo or ... ? and what it means 1= mini ?
  • #4,555
  • Jan 5, 2010 10:48am Jan 5, 2010 10:48am
Quoting tar

Can i tranfer funds between my forex account and stocks account ?
I found the answer , yes i can , how much it costs and how much time it takes ?
  • #4,556
  • Jan 5, 2010 11:29am Jan 5, 2010 11:29am
Quoting tar
Another question : I am looking at the market depth i c size goes from 100 to 99 then back to 100 , i guess one of your clients hit the bid or the offer , my question is : when a client hit the bid or the offer by micro lots only ( less than 10k ) does the size changes from lets say 100 to 99 or it keeps showing 100 ?

Thanks Justin
If size is being show as 100 on the offer and someone buys 1, that size will be reduced to 99. However, most of the time, the banks are really there for a lot more size, so if they get hit for 1, they will typically refresh back to showing 100 in a second. Keep in mind that we use a fifth decimal place, whereas that is not the norm of the industry. So let’s say that the quote is 1.5009 by 1.50102. That’s a 1.2 pip spread. Let’s say, just for simplicity of this conversation (it would never work out this way) that there is 100 showing for sale at 1.50102 (the offer) and another 100 at 1.50103 and another 100 at 1.50104 all the way up to 1.5011. That means there is really 800 showing at 1.5011 OR BETTER, while most brokers would typically only show you 1.5011. And then keep in mind that most of the time, that 100 number is just for show and is usually refreshed.
  • #4,557
  • Jan 5, 2010 11:30am Jan 5, 2010 11:30am
Quoting stvforex
Justin, is it (or will be) possible to switch a dollar account into euro account? Or open a second account and then transfer dollars from the first account to the second, and you guys would change dollars into euros at that time's rate?

Thank you for your answer and patience
Stvforex,

That is actually a great question and I will look into it. We aren’t a bank, so I’m not sure if that can be handled by our bank within your account or not. I will find out.
  • #4,558
  • Jan 5, 2010 11:33am Jan 5, 2010 11:33am
Quoting wannatradefx
Those spreads alone are pretty tight and I'm guessing that one or two of the biggest banks in MB's system show those spreads, while the others are generally a bit wider and simply supply extra liquidity. Looks pretty obvious when you stare at the quotes.
This is correct. Our ECN algorithm takes the best bid and offer from our providers and in this particular case a few providers are being consistent with their competitive spreads.
  • #4,559
  • Jan 5, 2010 11:38am Jan 5, 2010 11:38am
Quoting tar
Also another question Justin : the volume shown in MBT nav demo charts , is it MB clients volume for both the live and demo or ... ? and what it means 1= mini ?
Tar,

The volume shown in the demo is only from our providers and demo traders. Bids/offers posted by live traders are not reflected in the demo environment.
  • #4,560
  • Jan 5, 2010 11:41am Jan 5, 2010 11:41am
Quoting jleblang
If size is being show as 100 on the offer and someone buys 1, that size will be reduced to 99. However, most of the time, the banks are really there for a lot more size, so if they get hit for 1, they will typically refresh back to showing 100 in a second. Keep in mind that we use a fifth decimal place, whereas that is not the norm of the industry. So let’s say that the quote is 1.5009 by 1.50102. That’s a 1.2 pip spread. Let’s say, just for simplicity of this conversation (it would never work out this way) that there is 100 showing for sale at...
Thanks for your replies , i meant when the size went to 99 does it means at least one mini traded there or it can be less than a mini ( micro lots ) ?
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