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MB Trading Futures - Introduction

  • #4,581
  • Jan 7, 2010 11:41am Jan 7, 2010 11:41am
Hi Justin,

Ive been using Navigator Demo for the past week or so and have had two issues that repeatedly occur....

1. Several orders have been rejected because of a 'Security is not enabled' error.

2. When placing a Stop + TTO order I have seen my position not been closed out when my Upper and/or Lower Triggers have been hit. Thus resulting in my position remaining open rather than be closed out.

Any ideas on why these are occuring?

sleepy
  • #4,582
  • Jan 7, 2010 11:53am Jan 7, 2010 11:53am
Justin,

Does MB Trading have an upper limit for how large a single trade/position can be? For instance, can someone place a trade for 1000 lots (10,000,000 units) or even 10,000 lots (100,000,000 units) ... or is that too much?

Most ECN brokers can handle a very high order size, but because MB Trading offers lots that are 10x smaller than the standard, I was wondering if MB Trading also has an upper limit that is 10x smaller?

Or is there a limit to how many lots you can order at one time but not how large a position can be (meaning purchasing more lots towards the same currency pair separately)?

Also, I wanted to confirm which of these three phone numbers:

(866) 628-3003
+1 (310) 647-4279
(866) 558-3342

is the correct one for a US resident to dial if he/she needs to manage trade(s) offline? I believe the first one is the trade desk, but I am not completely sure.

And could you elaborate on what exactly you can do over the phone? Aside from opening/closing a position, can you also modify your trade ... such as placing a TTO order (setting a TP, SL) over the phone?

Thank you!
  • #4,583
  • Jan 7, 2010 12:16pm Jan 7, 2010 12:16pm
Does MB Trading have an upper limit for how large a single trade/position can be? For instance, can someone place a trade for 1000 lots (10,000,000 units) or even 10,000 lots (100,000,000 units) ... or is that too much?

Our upper limit is 10,000,000 or 1000 lots. You can however, place multiple orders of 1000 lots if you require a larger position with no limit on your total position size.

Also, I wanted to confirm which of these three phone numbers:

(866) 628-3003 - forex order desk
+1 (310) 647-4279 - forex international order desk
(866) 558-3342 - general support

And could you elaborate on what exactly you can do over the phone? Aside from opening/closing a position, can you also modify your trade ... such as placing a TTO order (setting a TP, SL) over the phone?

Yes, we can modify trades for you in addition to closing or opening a position.
  • #4,584
  • Jan 7, 2010 12:21pm Jan 7, 2010 12:21pm
Thanks, sounds great to me! Especially the no limit on position size part!
  • #4,585
  • Jan 7, 2010 1:16pm Jan 7, 2010 1:16pm
Justin,

In the end of last year you wrote here that MBT will have a very exciting announcement in the beginning of this year and that accounts in other currencies will be just a small part of this announcement. So is it going to happen sometime soon?
  • #4,586
  • Jan 7, 2010 1:37pm Jan 7, 2010 1:37pm
Quoting DrainBamage
Justin,

In the end of last year you wrote here that MBT will have a very exciting announcement in the beginning of this year and that accounts in other currencies will be just a small part of this announcement. So is it going to happen sometime soon?
I think the correct answer was that he said there would be a big announcement at the beginning of the year that would make a lot of people happy, and everyone asked him if it was this, that, or the other thing and he didn't comment. It looks like it was the acceptance of foreign currencies.
  • #4,587
  • Jan 7, 2010 4:46pm Jan 7, 2010 4:46pm
Actually thats what Justin said:

Quoting jleblang
FrankBlack,

What would you say if I told you that the end was definitely in sight on the multi currency accounts…and that was NOT the major announcement.
  • #4,588
  • Jan 7, 2010 5:17pm Jan 7, 2010 5:17pm
Quoting DrainBamage
Actually thats what Justin said:
But he also said when someone asked that he wouldn't play the games of correctly answering yes and no to what it might be.
  • #4,589
  • Jan 7, 2010 5:24pm Jan 7, 2010 5:24pm
Thanks for the emails everyone, i have more than enough names to get started on euro accounts, and we should be able to move this pretty quickly so it's available for everyone.

There will be more announcements in the coming weeks and I'll share them as I'm able to.
  • #4,590
  • Jan 7, 2010 9:20pm Jan 7, 2010 9:20pm
Justin,

I initiated an ACH transfer from my bank to my trading account yesterday, and I received an email from MBT stating that all ACH transfer requests must be confirmed by phone or email before they can processed.

However, I still have yet to receive a request to confirm my request for a transfer. Am I supposed to call MBT and confirm my transfer request or am I supposed to receive a message from them?

Thanks!
  • #4,591
  • Jan 7, 2010 10:23pm Jan 7, 2010 10:23pm
guys anyone couldnt go short in the demo should check now its working
  • #4,592
  • Jan 7, 2010 10:32pm Jan 7, 2010 10:32pm
Quoting kibescorp
Thanks, sounds great to me! Especially the no limit on position size part!
regarding the order limit = 1000 lots , i think Justin means limit orders not market orders , market orders depends on the size shown in the market depth , if it is showing 300 @ 1.4410 then u can get filled up to 300 lots at this exact point at this time , unless ofcourse the bank is hiding other size at this price , but there is no gauarntee u get filled 1000 lots anytime u want it depends on each size availble at each price ...
  • #4,593
  • Jan 8, 2010 12:06am Jan 8, 2010 12:06am
Quoting kibescorp
Justin,

I initiated an ACH transfer from my bank to my trading account yesterday, and I received an email from MBT stating that all ACH transfer requests must be confirmed by phone or email before they can processed.

However, I still have yet to receive a request to confirm my request for a transfer. Am I supposed to call MBT and confirm my transfer request or am I supposed to receive a message from them?

Thanks!
Kibescrop,

I'm not 100% on the exact process of the ACH transfers, but I feel like we should initiate the call. Let me check on this for you tomorrow; please email me your name and account number so I can better assist you.

Thank you
  • #4,594
  • Jan 8, 2010 12:30am Jan 8, 2010 12:30am
Quoting tar
regarding the order limit = 1000 lots , i think Justin means limit orders not market orders , market orders depends on the size shown in the market depth , if it is showing 300 @ 1.4410 then u can get filled up to 300 lots at this exact point at this time , unless ofcourse the bank is hiding other size at this price , but there is no gauarntee u get filled 1000 lots anytime u want it depends on each size availble at each price ...
Let me clarify this statement.

If you do prefer to place a market order of 1000 lots even if the market depth is showing 300, you'll be completely filled on your order, but you might receive a partial fill price on a portion of the trade. The end result will be a complete fill with an average basis price.

For example -

500 lots @ 1.4410
300 lots @ 1.44105
200 lots @ 1.4411

While many brokers used to re-quote in this situation, MB Trading has always allowed for partial fills to insure you're filled on your market orders without interruption.

As tar mentioned though, it is possible there is more liquidity then displayed at any given price, because our providers share their liquidity at their own discretion.
  • #4,595
  • Jan 8, 2010 12:35am Jan 8, 2010 12:35am
Quoting sleepy004
Hi Justin,

Ive been using Navigator Demo for the past week or so and have had two issues that repeatedly occur....

1. Several orders have been rejected because of a 'Security is not enabled' error.

2. When placing a Stop + TTO order I have seen my position not been closed out when my Upper and/or Lower Triggers have been hit. Thus resulting in my position remaining open rather than be closed out.

Any ideas on why these are occuring?

sleepy
Sleepy,

Lets take a look - email me your un/pw to [email protected] and we will reset your demo for you. We've had some issues this week with the Nav Demo and it could simply have just been related.

Also please include any examples if you can - the type of orders you were placing that were rejected, the last time you experienced the issue and the currency pair you were trading.

Thank you,
  • #4,596
  • Jan 8, 2010 5:08am Jan 8, 2010 5:08am
Justin if i put limit order inside the spread lets say pound now 1.6010/1.6012 and i put limit order to buy 1 lot @ 1.6011 , after i made my order your providers joined me at the same point 1.6011/1.6013 , now if a client want to sell 1 lot at the price offered 1.6011 who will get filled first me or your provider ?
Thanks
  • #4,597
  • Jan 8, 2010 7:09am Jan 8, 2010 7:09am
Quoting jleblang
Does MB Trading have an upper limit for how large a single trade/position can be? For instance, can someone place a trade for 1000 lots (10,000,000 units) or even 10,000 lots (100,000,000 units) ... or is that too much?

Our upper limit is 10,000,000 or 1000 lots. You can however, place multiple orders of 1000 lots if you require a larger position with no limit on your total position size.

Also, I wanted to confirm which of these three phone numbers:

(866) 628-3003 - forex order desk
[b]+1...

Hi Justin,
is there a limit for multiple orders?
If I put 10 orders (for example), is there a possibility that I could not find someone on the other side for one or more orders? What happens in this case?
  • #4,598
  • Jan 8, 2010 11:35am Jan 8, 2010 11:35am
Quoting tar
Justin if i put limit order inside the spread lets say pound now 1.6010/1.6012 and i put limit order to buy 1 lot @ 1.6011 , after i made my order your providers joined me at the same point 1.6011/1.6013 , now if a client want to sell 1 lot at the price offered 1.6011 who will get filled first me or your provider ?
Thanks
The system is designed to always search for the best price within our four walls first, before the order routes out to our liquidity providers. Therefore your order would execute the order first before it was executed by a bank.
  • #4,599
  • Jan 8, 2010 11:42am Jan 8, 2010 11:42am
Quoting jleblang
The system is designed to always search for the best price within our four walls first, before the order routes out to our liquidity providers. Therefore your order would execute the order first before it was executed by a bank.
Thats good , this mean even if i joined the bid or the offer late , your clients will hit my order first , right ? what about if i had 1 lot only and the client wants 5 lots , does he takes 1 lot from me and 4 from the bank ?
  • #4,600
  • Jan 8, 2010 11:44am Jan 8, 2010 11:44am
Quoting Pipsnator
Hi Justin,
is there a limit for multiple orders?
If I put 10 orders (for example), is there a possibility that I could not find someone on the other side for one or more orders? What happens in this case?
Not sure I understand exactly what you are asking?

You can submit as many limit orders as you like and if the market reaches your price, you'll be filled by our providers and other client orders in the system. Of course there is no guarantee you'll be filled since it is a limit order, and in that case you'll either need to cancel or it will remain pending until it is filled. Its very rare though that a limit order isn't filled if the market moves through it.
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