MB Trading Futures - Introduction

I second that Justin... Android app would be great!

I want to add my voice to an earlier question from Jeff, that was missed, wondering is there any plan to open offices (uk?) that would allow Hedging..

This is a needed function for me, I really like MBT , one of the only brokers I trust, but I have a specific need for hedging and am having to look elsewhere to find a solution..

I do not want to be a former MBT customer.. unfortunately I am in U.S. so limited options...

Anybody else out ther having problems closing their positions?

I have a live metatrader account and I've been trying to close a trade for the last hour. I keep getting off quotes message. I called the trade desk and was told there is nothing that can be done since the trade is stuck at the destination. Has anyone here experienced this?

I would call them back, that is an unacceptable answer imo.

I have 4 open positions with them at this time. If I can not depend on being able to close them when I need to then there is no reason to remain a MBT customer.

Well it has been 3 hours now and I still can't exit my trade. I have now seen a very nice trade turn in to a small loss but I am still stuck in this trade without any hopes of an exit and it continues to go against me.

The average waiting time for custumer service and the trade desk is 23 minutes but yet they continue to say the problem is not theirs and basicaly their is nothing they can do. How much farther will it go against me?

After 3 hours M.B. Trading has still not shown the decency to warn it's traders that this problem is out there. I get messages for every other problem but not on this one. There is no excuse for this.

The issue has been resolved, but not to my favor.

This trade was a nice gainer, I ended up with a loss, a loss that was more than double my usual limits.

I don't know what to think. I have been with guys for over 2 years and they have been excellent on all levels. Tonight, I have totaly lost faith in them, this is B.S!

Justin, what explanation do you have for this incompetance? This problem is now going on for over 5 hours but yet you send no warning about it even though you all are well aware of it. No Excuse!

Oh how cute, a new poster. Which broker do you work for? I haven't experienced any problem with MBT that can't be fixed with a phone call, and I certainly have seen them come forward with great detail about any issues. I don't expect my broker to be perfect, I just expect them to be available to fix a problem and MB fits that bill. I think if you read back through this thread, you'll find several discussions about what has caused trade issues here and there, including a pretty open discussion about a problem that occurred back in the middle of June. I've been with MB for 3 years now, with an account on Nav and MT4, and the number of trades that have had any issues is a handful (and yes, all on MT4, none on Nav). Out of thousands of trades run, I'll take those odds versus a desk stealing from me. Please tell us what broker you work for that you decided today to create a brand new user on FF and bash on MB. Be honest, it's worth it.

VavraSF,

I just researched your situation. Apparently, yesterday around 9 pm EST, one of our bank destinations experienced an outage and system-wide problem. This resulted in trades that were routed to that destination during the beginning of that window (they were down for over 15 minutes) to basically be stuck at the destination. This was not a MetaTrader problem and this was not a system-wide problem on our end. Only a small percentage of orders were affected (in this case, a very small number). Orders routed to any other destination at that time still worked fine. This affected trades that were from both our Desktop/Nav and MT4 platform. Once we identified the issue, we turned off routing to that destination, so only orders that were sent to them while they were down before we turned off routing.

Although that destination resolved their issue quickly and came back up (and then we started including them in the routing again), they had some significant databasing issues from the crash in identifying what did and did not happen during that window. This affected all orders that were routed to them from any brokers (not just us). They spent the better part of the night reconstructing the database and each order and tagging the fills with the proper order IDs. In the meantime, there was little that we could do. We were able to force out trades that did not execute for a handful of customers so that they could resume managing their trades. But until each order was confirmed as executed or not to us and matched off with the proper account, there was nothing else we could do.

I’m sorry that you experienced the issue and I realize that the fact that only a few trades experienced this issue doesn’t make you feel better since you were affected.

As to the post from Janustrading, this wasn’t a MetaTrader issue. We have openly addressed any other issues in the past and I’m happy to do it again if anyone wants. In fact, if anyone would be interested, I could probably arrange for one of the leads on our MetaTrader platform to do a presentation in our World webinars next week to answer any questions.

Again, sorry for the issue and for those of you affected. It was out of our control.

It sure doesn't.

This situation is very disturbing.

Just what would be different had your account gone into margin call??
Would they just say sorry it is out of our control?

Tuff luck?

Granted Jeff detailed what happened but basically no corrective action to the damage caused to customers account was taken from what I see.

Not acceptable.

Please tell me that traders trying to close their orders but couldn't will be compensated for any losses due to this issue. If not, please post otherwise so I can close my account.

Hi Justin:
I was wondering if you had platform issues this morning. It has been frozen for over an hour, and the main frustration is that I have been on hold for over an hour with customer service, I'm being told I'm first in line, but nothing happens. I understand stuff happens, but it seems like you need more help. Thanks for your time.

Jim

If it's a technology issue in our control, that's one thing. If it's out of our control then no.

the explaination of justin is unacceptable.If justin is the the customer who can not flat the position even call in but be of no effect.what is your taste,sweet or bitter?Justin said the problem is the bank then the MBT should remove the evil bank from the list of the liquid providers so that the problem should not happen again.

the explanatin is unacceptable.How can you prevent the same condition from happening again?

I go to a supemarket and buy a dozen of eggs which I find later to be rotten. If the eggs became rotten in the supermarket, I am compensated. If the eggs were sent rotten to the supermarket by the farmer, I am not compensated, as it's out of the supermarket's control. Makes sense, doesn't it?

On three different occasions (before June 16th, on June 16th, and after June 16th) I lost money with MBT because of their MT4 platform issues (stuck trades) and the insanely long time it took the dealers/support to respond and to take care of the problems. I didn't receive any compensation - my questions regarding this were simply ignored.

So, control or not control, you are not compensated, period.

I've withdrawn most of my money from MBT and I am happy with another broker now.

PS @IndyTrader. I don't work for any broker. And I think that following Justin's explanations, your apology is due to JanusTrading and actually, to all of us who were exposed to your unjustified negativism. Unless you work for MBT - in such case your post was just an awkward way of doing business.

Hi Justin,

I'm looking for a broker where I can use Ninja Trader for forex trading. Is that possible with MBTrading?

That's worth repeating. IndyTrader seemed to have ther kneejerk reaction that those of us who posted on here to say we were experincing probloms were lying.

Sorry to hear about the problems you ran into on three seperate occaisions. As I said earlier I saw a nice profitable trade turn into a loser. Thankfuly it was a manageable loss but the scary thing is this could of very easily turned into something far much worse. It scares me to think about it.

I have been with M.B. for over two years now. During those two years these guys have been nothing but absolutely excellent on all levels. I still think that choosing them as my broker was a great decision but it can't happen again.

VavraSF (and Ilanr)-

I have no kneejerk reaction to anything. I have been trading for over ten years, not just FX. Two months ago, I had an options trade on. Stock moved up, I went to sell the option. The exchange was experiencing issues and no executions were happening for about an hour. This is an OPTIONS EXCHANGE were talking about here. By the time they were back up, the stock was back down and my gain was gone. Cost me about $1500 from where I wanted to sell it to where I got out. The exchange didn't pay that to me. The broker certainly didn't pay that to me. Why should the broker have to pay for a problem that they had zero control over. The broker was fully able to accept and send my order.

Here's the issue. I understand why I USE MBT. Do you? I have a very good understanding of how their system works and I prefer it to other options. I also have some money with another broker so that if there is a problem at MB, I can place a trade there in the meantime so there is no net loss to me. See how that works? I took responsible actions to have a way for myself to be safe should MB experience a major problem.

If I'm not comfortable with MB, what are my options? Go to a desk? Have you SEEN the recent filing against GAIN? You think FXCM is different? Or Oanda? What a joke...how do you think they got those massive net capitals? And you think those guys never have an outage or a technology issue? I know I've seen threads about problems with each of them at times on these boards. And in that case, it's just about you and them when they go down, and they still aren't going to compensate you every time for what you "wanted to do."

I have had a trade problem at MB where there was a trade server issue on their end and they compensated. I've also had a few trades like the June 16 issue. This is out of a lot of trades over the years. And Justin has done a lot of work to explain how MT4 works on top of the MBT account layer. If you aren't using an EA, you should be using their regular platform and you probably wouldn't experience an issue.

What I get tired of watching on these boards is people that think, "Oh, MB is my broker, they are responsible for everything being 100% perfect in the technology world. If someone gets in a car crash down the street from my house and takes out my Internet hub in the neighborhood, it's MB's fault and they should make me good on what I wanted to do, even though I didn't pick up the phone to place the trade. They should just believe that I wanted to sell at the top." Seriously, that's what it sounds like sometimes.

You have options out there. You're looking at MB because you know what most of these other brokers do to you. You don't want to send your money to some brokerage based out of a country that ends with "stan." You are smart enough to know that 400 to 1 leverage isn't a bright idea. Etc. There's a reason that everyone comes looking at MB at some point, and then you have to decide if what they offer suits you, and that means understanding what they do and what that means to you. And I personally think Justin does a terrific job of answering every question.

So back to this issue. The banks provide the liquidity. That's what we want. Do you really think the big banks are going to sign an agreement with MB that they will compensate MB's customers when there is a problem at the bank? No. No way. I guarantee (Justin could probably confirm) that they wouldn't do that. Just like an Exchange like the NYSE or CME or CBOE wouldn't. So now, are you saying that if something horrible happened and the net result is $50 million in errors, MB is supposed to eat that, even if it was out of their control, putting them out of business and likely guaranteeing that none of us get our money even if we weren't affected? Think about it carefully before you reply.

Be responsible folks. I know it isn't the cool thing to do in this world right now, but give it a try.