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MB Trading Futures - Introduction

  • #4,701
  • Jan 18, 2010 5:45am Jan 18, 2010 5:45am
Quoting pa18
A bit harsh

MBT has been good to me, not too much to grumble about, good executions and fills and CS seems fair so far.

But I'm considering moving to Dukas only because I scalp, I live in China and I get charge the old commission rate! More of a possible move now since the recent NFA thing
hi pa18,

just a quick question: where there any problems scalping with MBT which you hope is better at Dukas? or is it more a pricing and the recent NFA thing.
__Thanks__ MJ
  • #4,702
  • Jan 18, 2010 5:53am Jan 18, 2010 5:53am
Quoting pa18
A bit harsh

MBT has been good to me, not too much to grumble about, good executions and fills and CS seems fair so far.

But I'm considering moving to Dukas only because I scalp, I live in China and I get charge the old commission rate! More of a possible move now since the recent NFA thing
I thought the commissions rate applies to where you a/c is open, not to where you live. I.e. if your a/c is with MBT US, your commissions should be the same as for the US residents.
One Chart is Worth Ten Thousand Words.
  • #4,703
  • Jan 18, 2010 6:00am Jan 18, 2010 6:00am
Justin, what about the new leverage?
  • #4,704
  • Jan 18, 2010 7:35am Jan 18, 2010 7:35am
Quoting M_j
hi pa18,

just a quick question: where there any problems scalping with MBT which you hope is better at Dukas? or is it more a pricing and the recent NFA thing.
Dunno, let you know when and if I get there
  • #4,705
  • Jan 18, 2010 7:49am Jan 18, 2010 7:49am
Quoting pa18
A bit harsh

MBT has been good to me, not too much to grumble about, good executions and fills and CS seems fair so far.

But I'm considering moving to Dukas only because I scalp, I live in China and I get charge the old commission rate! More of a possible move now since the recent NFA thing
Hi, I live in China too. I'm not with MBT yet but considering to move to. I'm currently with FXCM US. I'm also wondering why MBT is not good for scalping.
  • #4,706
  • Jan 18, 2010 9:52am Jan 18, 2010 9:52am
Judging from your previous posts you should pick an old fashioned bucket shop and stick with them and their MT4. You show absolutely no comprehension of this business.
Good luck with your trading.

Quoting forexpipmaster
Justin:...
  • #4,707
  • Jan 18, 2010 9:53am Jan 18, 2010 9:53am
Quoting Pipsnator
Justin, what about the new leverage?
Pipsnator,

Besides the fact we are completely against it?

It is too soon to speculate, but I'm confident we will adjust accordingly and take the proper steps that are in the best interest of our clients needs.
  • #4,708
  • Edited 10:52am Jan 18, 2010 10:29am | Edited 10:52am
Quoting forexpipmaster
Justin:...
If automated trading is your prime objective why would you even bother with junky MT4?

Edit: Don't forget, MT4 is a relatively new addition to MBT. Their Navigator is their strong point.
  • #4,709
  • Jan 18, 2010 10:32am Jan 18, 2010 10:32am
Quoting forexpipmaster
Justin:...
Dukas will always be a deal desk. Good luck with that. You clearly show no knowledge of this business if you don't understand global rollover. Please make Dukas richer. Give them your money, they'll take it all, and then we can stop hearing from you.
  • #4,710
  • Jan 18, 2010 12:48pm Jan 18, 2010 12:48pm
Quoting forexpipmaster
Justin: MB Trading is a complete joke ...
This is actually really funny.

Because it seems like the people that complain about MB Trading from time to time in this thread are all angry over things like running EAs, the MT4 platform, and the demo environment.

Since I've been trading live with MB Trading, I've had nothing but good results. Due to some of the mixed responses regarding MBT that I'd been hearing, I was skeptical but at the same time hopeful prior to signing up.

Glad to say that it was the latter sentiment that ended up prevailing and was justified in the end. I guess the reason why NONE of these complaints have affected me is because I run Navigator, which is MB Trading's forte platform, and I actually trade on my own accord instead of using unreliable EAs and then bitching because they aren't compatible.

I usually pull out a trade before rollover period, but one time so far I've let it ride through the rollover period just to test it out ... the fee was EXACTLY as I had calculated it to be (for those of you who can't for the life of you figure out how it's calculated ...), and the transition was as smooth as you could possibly want it to be.

So, bottomline? I trade in the most simple (and also most effective) way on Navigator without any other bullcrap, and I have not had any of these problems that other people have been spouting off about. That includes "off-quote" messages, connection errors, confusion over rollover/commission, problems running EAs, or anything else of the like. So far, spreads pretty much always stay relatively consistent and constant (on EUR/USD, usually 0.9, occassionally 1.3), and slippage/execution time has not been an issue at all. Even right after an 8:30 EST USD news release, you can expect an order of 10,000 units (of EUR/USD) to be filled (in full) within a second or so.

It's good that I can now make these evaluations about MB Trading myself, instead of listening to all these mixed reactions prior to when I started trading live with MBT. Because now I can say with some certainty that the vast majority of the criticism is absolute bull.
  • #4,711
  • Jan 18, 2010 1:30pm Jan 18, 2010 1:30pm
Quoting jleblang
Pipsnator,

Besides the fact we are completely against it?

It is too soon to speculate, but I'm confident we will adjust accordingly and take the proper steps that are in the best interest of our clients needs.
Do you have any overseas offices that clients can open their accounts in? 100:1 leverage is a game changer for me. I've already sent a comment letter to [email protected] opposing this rule. What is MB trading doing to fight this thing?
  • #4,712
  • Jan 18, 2010 5:25pm Jan 18, 2010 5:25pm
I'm also concerened on the rules that CFTC will pass, Justin will MBT open an office outside US? I was going to open an account with MBT, but I'm not so sure now. .
  • #4,713
  • Jan 18, 2010 6:17pm Jan 18, 2010 6:17pm
Quoting kibescorp
This is actually really funny.

Because it seems like the people that complain about MB Trading from time to time in this thread are all angry over things like running EAs, the MT4 platform, and the demo environment.

Since I've been trading live with MB Trading, I've had nothing but good results. Due to some of the mixed responses regarding MBT that I'd been hearing, I was skeptical but at the same time hopeful prior to signing up.
I'm guessing that most of the negative chatter isn't actually real traders but other brokers trying to put doubt in people's minds. Once you trade with MBT live, you realize that they must be the biggest threat to the deal desk mentality out there.
  • #4,714
  • Jan 19, 2010 5:13am Jan 19, 2010 5:13am
http://www.forexfactory.com/showthre...73#post3204073
Larseg-

We used to have two maintenance periods, one at 00:00 and one at 17:00 EST. About four months ago, we ended the 00:00 maintenance and moved it to match the 17:00 settlement one, so there is no longer a 00:00 shutdown period, which was in the middle of core European trading.

However, the 17:00 period is a settlement timeframe for banks in the Interbank system. They all shut down. Only a deal desk platform would continue operating during that small window, which is almost always 6-8 minutes for us while we also do the backups that used to occur at 00:00. So if that one ever goes away, either the entire Interbank system changed, or we became a deal desk. In other words, don't plan on it, but it isn't during prime trading hours. __________________
Justin LeBlang
MB Trading




hi,

This is a post from Nov 3, 2009 3:12pm and I have a question to it.

Reading so far through this thread I have a whole list of potential issues I see with MBT.
I'm sure some of them can be cleared when I discuss them with MBT.


But one of the the issues which I find really disturbing is the fact that during maintenance time - it seems that an account is open to unlimited risk.

http://www.forexfactory.com/showpost...postcount=2143
During the maintenance time your account has zero protection. You are vulnerable to the market movement during this time. It can either work in your favor...or not.
Granted, the time frame is USUSALLY about 5 minutes long and it is during typically a slow trading time and should not be a problem, but I, as a scalper, will not have any positions open during these periods of time.

and here an old info from MBT rep. Justin LeBlang.
http://www.forexfactory.com/showthre...30#post1467930
You asked; "Can a trader call the dealing desk and have them manually close the trades during maintenance?"

No, not during maintenance, as all servers are down and offline. Remember, we park your orders on our servers so that they remain anonymous and hiding from the market to avoid stop hunting and erroneous fills, this is a benefit to you. The only small negative to this is that during this short period of maintenance each day those orders will go offline. Now in the past couple years, there has only been a couple times where the market was moving during maintenance time and trader's stops were not filled, one of those few times just the other day.

I can only speak for myself:

1.
I as an online trader do not want to get into a habit calling a broker to close my orders at all.
I understand that things can happen ( I have worked at international technical projects which included 50+ countries) - but reading through the thread I got quite an impression that many people call a lot

I understand that in such an thread one hears mostly only problems - and one does not hear much from all the traders who have no problem - and in fact I contacted a good number and have got back mostly good reports.


2.
The only small negative to this

Well, I really respect Justin MBT for his helpful effort in this thread - but personally as a trader I have at times a different opinion.

only small negative: as a trader - personally this is a huge negative in my opinion

Unprotected Account:getting hit like this in a bad way even 'only one time' - well that is one time too much. If a trader looses only once 100%
he is no trader anymore, isn't he?



----------------------------------

http://www.forexfactory.com/showthre...73#post3204073
However, the 17:00 period is a settlement timeframe for banks in the Interbank system. They all shut down.
....
In other words, don't plan on it, but it isn't during prime trading hours.


So here my QUESTION:

After the change to only 1 maintenance period per day - does the risk of an unprotected account still exist - or where there any changes.


To be fair my personal opinion is:

I don't bother if such Risk of complete unprotection is in the prime or not in the prime trading period - for me counts only what the situation is about my Account protection.

MBT is at the moment 1 of a number of brokers I consider to move too - so I have no complains ( I have no Live nor a Demo account yet) - but this is just something what I want to know in my consideration.


Of course even if during this time the account is unprotected one can work around depending on once trading style (have no open orders) - the question for me is if I want to have such possible limitation.

Anyway - I would be very thankful if you could clear that for me - with the change to only 1 maintenance time - I ask that here because I guess others inquiries like myself might profit from your clarification.
__Thanks__ MJ
  • #4,715
  • Jan 19, 2010 8:14am Jan 19, 2010 8:14am
Hi Justin,

I had a question concerning Navigator.

When an order is placed on the Navigator platform, (for example, a Mkt. + Trail or a Limit + Stop) does the stop order sit server side? So, in the event my internet connection were to go down, would the stop order still be in place?

Thanks for your assistance.
  • #4,716
  • Jan 19, 2010 8:43am Jan 19, 2010 8:43am
Quoting M_j
http://www.forexfactory.com/showthre...73#post3204073
Larseg-So here my QUESTION:

After the change to only 1 maintenance period per day - does the risk of an unprotected account still exist - or where there any changes.


To be fair my personal opinion is:

I don't bother if such Risk of complete unprotection is in the prime or not in the prime trading period - for me counts only what the situation is about my Account protection.

MBT is at the moment 1 of a number of brokers I consider to move...
During maintenance, your trades cannot execute. It's the slowest time of a trading day as all markets are closed (Asia and Europe dark, US banks closing). I've traded with MB for two years and it's never been an issue, and I leave plenty of positions open. I'm not even watching the screen at that time.
  • #4,717
  • Jan 19, 2010 9:21am Jan 19, 2010 9:21am
I'm in the club

I've officially signed up for the demo - had even my first NAV crash - so I call it a start.

Will take some time to get used to a new platform.
__Thanks__ MJ
  • #4,718
  • Jan 19, 2010 9:50am Jan 19, 2010 9:50am
Quoting Fudomyo
Hi Justin,

I had a question concerning Navigator.

When an order is placed on the Navigator platform, (for example, a Mkt. + Trail or a Limit + Stop) does the stop order sit server side? So, in the event my internet connection were to go down, would the stop order still be in place?

Thanks for your assistance.
Fudo,

All orders are server side held, including trailing stops.
  • #4,719
  • Jan 19, 2010 9:58am Jan 19, 2010 9:58am
Quoting M_j
So here my QUESTION:

After the change to only 1 maintenance period per day - does the risk of an unprotected account still exist - or where there any changes.


To be fair my personal opinion is:

I don't bother if such Risk of complete unprotection is in the prime or not in the prime trading period - for me counts only what the situation is about my Account protection.

MBT is at the moment 1 of a number of brokers I consider to move too...
MJ,

As I'm sure you understand, orders will not execute during maintenance, but I have only a few times in my 6 years with MB Trading seen movement of note during this short period of time. If you want to limit your risk, don't hold positions through maintenance, but I think you'll find it is just easier not to concern yourself with it. However, Forex markets are unpredictable as we all know and I don't want to say it will never happen.
  • #4,720
  • Jan 19, 2010 10:01am Jan 19, 2010 10:01am
Quoting MikeX
I'm also concerened on the rules that CFTC will pass, Justin will MBT open an office outside US? I was going to open an account with MBT, but I'm not so sure now. .
MB does not operate an office outside of the U.S. and I don't want to speculate as to what steps we will take. Based on our experience with regulatory changes in the Stocks, Futures, Options and Forex industry, I feel confident MB will adapt accordingly with our clients best interest in mind.
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