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MB Trading Futures - Introduction

  • #4,901
  • Feb 10, 2010 1:56pm Feb 10, 2010 1:56pm
Guys,

I'm looking for 5 traders who wish to have a Navigator account with EUR as the base currency. This only applies to Nav accounts, not MT4. If you are interested, please email me at [email protected].
  • #4,902
  • Feb 11, 2010 4:42am Feb 11, 2010 4:42am
I just sent you e-mail Justin.

Can I have a demo account in Euros also?

Thanks.
  • #4,903
  • Feb 11, 2010 9:01am Feb 11, 2010 9:01am
Justin,

I have an account with Navigator MBT already with but how do I transfer my funds over to my MBT MT4 account please.

I've already sent two messages to request info but as yet no one has replied, this was two days ago.

Pete
  • #4,904
  • Feb 11, 2010 9:02am Feb 11, 2010 9:02am
Quoting jleblang
Max,

It is a little to soon to speculate what we will or won't do; however, we aren't simply going to just sit on our hands and do nothing. We are exploring all available options to preserve the integrity of our firm and to continue offering the services that our customers expect from us.
I hope so, I just started to get profitable
  • #4,905
  • Feb 11, 2010 10:54am Feb 11, 2010 10:54am
Quoting pedropip
Justin,

I have an account with Navigator MBT already with but how do I transfer my funds over to my MBT MT4 account please.

I've already sent two messages to request info but as yet no one has replied, this was two days ago.

Pete
Pete,

You can use the internal request document found here: http://mbtrading.com/forexMiscPaperwork.aspx or log in to your account manager and fill out the request online.

What email address did you send your request to?
  • #4,906
  • Feb 12, 2010 10:10am Feb 12, 2010 10:10am
Justin,

I have never yet held a position over the weekend with MB Trading, but I feel I may wish to leave my position open today. Does MB Trading have any issues with leaving a position open over the weekend? I have already removed the SL and TPs to ensure that the position doesn't get stopped out over the weekend for any irregular price movement.

Thanks!
  • #4,907
  • Feb 12, 2010 11:17pm Feb 12, 2010 11:17pm
Quoting kibescorp
Justin,

I have never yet held a position over the weekend with MB Trading, but I feel I may wish to leave my position open today. Does MB Trading have any issues with leaving a position open over the weekend? I have already removed the SL and TPs to ensure that the position doesn't get stopped out over the weekend for any irregular price movement.

Thanks!
I've done so several times with no issues...unless paying swap is an issue for you.
  • #4,908
  • Feb 13, 2010 10:08am Feb 13, 2010 10:08am
[quote=aaceofspades;3437556]How does MB Trading handle margin calls in their system? If a position becomes slightly negative, will the system liquidate all or just the required part of the position to maintain margin? It's been a while since I've had a margin call, but I think I remember Navigator liquidating a portion of a position instead of completely closing it out?


I never did get an answer on this forum from jleblang or anyone else. Perhaps it was a stupid question or maybe nobody knew, so I made some calls and wrote emails...

After 4 days of talking with various people at MB, here's what I found out:
1. Navigator will liquidate a portion of your position to maintain margin
2. MT4 will close the whole position.

When the Euro was diving at the beginning of Feb., I decided to go 100:1 on a trade. It was a sound call, but it did pull back 17 pips on the way down to lose another 100 pips in the next 8 hours. MT4 closed the position at -17 pips. Why? According to the numbers they post on their site regarding margin calls, my trade should not have been liquidated.

Quote:
"MB Trading Futures, Inc (MBTF) margin policies dictate that at any time a trader has an open position he/she must maintain a minimum of 1% equity. MBTF will make every effort to contact you in regard to risk position(s), however in some instances if your account declines too quickly, the order desk will liquidate partial or entire open position(s) at risk to bring your margin equity percentage to 0.50%"

I was very disappointed it took FOUR days to get another vague answer from somebody at MBT. The policy about how margin is handled needs to be updated at the very least. I also think their support guys should have a perfect understanding of how the system works. It's very clear that they don't.

Here's what the support guy emailed to me:
"The reason that it took you out of the entire position is because Meta Trader 4 automatically closes the full position at the 100% level. The Navigator platform they can margin out a partial amount, but MT4 it is the full position."

Huh? My trade was never near 100% negative! Also, this was during the afternoon. The market was moving slowly. No upcoming news.

According to the web stated policy and the email, my trade should not have been closed.

If you set your stops wide (+25 or more) I don't recommend using MT4 until this is fixed.

Do I have an axe to grind here or am I missing something?
  • #4,909
  • Feb 13, 2010 5:23pm Feb 13, 2010 5:23pm
Justin


Long time customer - very happy with your firm.

I figured I'll ask here as someone else may use the answer
I don't see it on your website but do you support MAM for MT4 and if so where can I download it.
I know its available in NAV.
  • #4,910
  • Edited Feb 14, 2010 1:36am Feb 13, 2010 8:39pm | Edited Feb 14, 2010 1:36am
Quoting aaceofspades
Do I have an axe to grind here or am I missing something?
Unfortunately it's a tricky situation. I wonder if they changed their policy as I don't recall the "must maintain 1% clause", only the clause about triggering a margin call to bring equity to 0.5%.

That puts it in a gray area, as essentially it's their prerogative as to whether they initiate the call at any possible point immediately below 1% equity. Since you put on a trade at 100:1, you were immediately at 1% equity, and a single pip below that places you in a margin call possibility.

It seems strange to offer 1% margin, with a margin call possibility at 0.99%. I'm sure there's leeway, but by a back of the envelope calculation, you were never below ~0.8% equity in your trade. Hardly cause for concern under their (presumed) old policy of a 0.5% maintenance margin (leaving the 0.5% - 1% range as "safe breathing room").

I'm curious to hear Justin's clarification on this.
  • #4,911
  • Feb 15, 2010 1:49am Feb 15, 2010 1:49am
Hi jleblang

I have been trying out MBtrading for about a week now seeing that I want o switch over, or at least have an account with an ECN broker as well.

But I have first been trading on the demo account to see how you guys are as a broker and the kind of support one gets.

But now today on the demo account I got the following error every time I wanted to close an order (I can open an order just fine): It first tells me order accepted and then immediately it tells me "Off quotes" ??

Now already today this meant the difference of going from a profit positions to a loss more than once. As you can think this is a SERIOUS concern to me - the fact that I can not close my trades.

For some reason my account was also disabled at one point, and I had to phone tech to let them activate it again.

Before I even think about opening an account with you guys I would need some assurance about what the reason for this is, and also if it is only isolated to the Demo server?

Thanks allot
PH
Live happens 5 minutes at a time...
  • #4,912
  • Feb 15, 2010 9:38am Feb 15, 2010 9:38am
Quoting Purple_Heart
Hi jleblang

I have been trying out MBtrading for about a week now seeing that I want o switch over, or at least have an account with an ECN broker as well.

But I have first been trading on the demo account to see how you guys are as a broker and the kind of support one gets.

But now today on the demo account I got the following error every time I wanted to close an order (I can open an order just fine): It first tells me order accepted and then immediately it tells me "Off quotes" ??

Now already today this meant the difference of going from...
PH,

If you read through the thread a bit I think you'll find this a common occurrence on the DEMO...and non-existent on their live platform, at least in my experience (I'm assuming you are talking about MT4?). I used their demo for weeks before going live and had frequent "off quotes" and "no connection" etc...but since going live have had not a single hiccup. Not the first time I've said this but, I highly recommend MBT. After a few weeks live trading you will forget what that nasty "off quotes" error sounds like!
  • #4,913
  • Feb 15, 2010 11:18am Feb 15, 2010 11:18am
Quoting Trader KGB
It seems strange to offer 1% margin, with a margin call possibility at 0.99%. I'm sure there's leeway, but by a back of the envelope calculation, you were never below ~0.8% equity in your trade. Hardly cause for concern under their (presumed) old policy of a 0.5% maintenance margin (leaving the 0.5% - 1% range as "safe breathing room").
Your envelope calculation is correct. Not only is the margin call in question, but why liquidate the whole position instead of a partial amount? Thanks for your comments.
  • #4,914
  • Feb 15, 2010 1:20pm Feb 15, 2010 1:20pm
Quoting Pip Dawg
Justin...

Can you post the paperwork needed to start and account on the MT4 platform. I have a Navigator account and the website keeps telling me the e-mail that I'm using is taken...which it is. So I keep going in circles trying to get the paperwork from the website.

Can you help?

Thanks.
Pip - did you ever get this resolved? If not, email me at [email protected].
  • #4,915
  • Feb 15, 2010 1:23pm Feb 15, 2010 1:23pm
Quoting kibescorp
Justin,

I have never yet held a position over the weekend with MB Trading, but I feel I may wish to leave my position open today. Does MB Trading have any issues with leaving a position open over the weekend? I have already removed the SL and TPs to ensure that the position doesn't get stopped out over the weekend for any irregular price movement.

Thanks!
kibescorp,

Sorry for the delay in response; I was traveling last week Wed-Fri.

MB Trading certainly does not have any issues with our clients leaving positions open over the weekend. Regarding the choice to leave a stop or not on over the weekend, that is something I cannot advise you for liability reasons. I would ask that others provide their experience and you make your decision based on that.
  • #4,916
  • Feb 15, 2010 1:24pm Feb 15, 2010 1:24pm
Quoting jleblang
Pip - did you ever get this resolved? If not, email me at [email protected].
Justin,

I did get it resolved...thank you. How long does it take to transfer money from my Navigator account to my MT4 account? I sent the paperwork in last Wednesday.

Thanks...
  • #4,917
  • Feb 15, 2010 1:24pm Feb 15, 2010 1:24pm
Quoting robertw
Justin


Long time customer - very happy with your firm.

I figured I'll ask here as someone else may use the answer
I don't see it on your website but do you support MAM for MT4 and if so where can I download it.
I know its available in NAV.
Robertw,

We currently do not support MAM for MT4. We only support a managed account tool for the Navigator.

Thanks for the post.
  • #4,918
  • Feb 15, 2010 1:26pm Feb 15, 2010 1:26pm
Quoting Pip Dawg
Justin,

I did get it resolved...thank you. How long does it take to transfer money from my Navigator account to my MT4 account? I sent the paperwork in last Wednesday.

Thanks...
Unless there are settlement restraints, it should be no more than 24 hours. Who did you send it to? Fax or email?
  • #4,919
  • Feb 15, 2010 3:16pm Feb 15, 2010 3:16pm
Hey Gang-

Some of you might have seen this but I just got this message from MBT in my Meta Account (Live and Demo):

Although this is being sent to your Live account, the following information is only about any MT4 DEMO accounts that you might have. There will, of course, be no implications for your Live account at all.


We will be deleting all orders and account numbers in our Demo environment today at 5 pm EST. If you also run a Demo account and would like to continue to do so, you'll need to generate a new one after 5 pm EST. Please note that you'll need to create the account in our MT4 client software and then wait until the FOLLOWING day at 5 pm EST for that account to get funded with $10,000 in demo funds. You cannot trade the account until after the next 5 pm EST rollover after you create the account. If you have any issues, please contact MT4 Support on the Contact page of our site. Note that if you attempt to trade the account before it is funded with demo funds, the account will be disabled.


Again, this will have no impact on Live accounts. We do believe that we will have a fully stable MT4 Demo environment for you moving forward because of this update, and we apologize for any inconvenience this creates in having to start over with a new account.






Sounds like what Justin talked about a couple of weeks ago is happening. Maybe Demo will remain stable after this.
  • #4,920
  • Feb 15, 2010 4:47pm Feb 15, 2010 4:47pm
Can someone from MB please tell me why daily candles in MT4 have wrong open/close at wrong times?

Thanks
ok Friendo? This is madness!?!? - THIS, IS, FOREX!!!
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