i find IB spreads are tighter than Mbtrading. how do i figure out if IB is better than MBx as the commissions are different.
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what's the differences from EFX between MBTrading? 5 replies
any comments about MBTRADING (not eFx) 19 replies
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MBTrading Platform Question 2 replies
DislikedIt's been a long time since I looked at IB, but I remember figuring out once that you have to do some signifigant volume to get the commission down to a competitive level w/ MB, a level at which you would qualify for discounts off the retail MB commission schedule.Ignored
DislikedI was about to pose this question to the MBT sales rep on his thread but perhaps you guys have the answers.... Being that they are an ECN (as is IB) I would have assumed they got the same rates as IB. Not so... Here are three brokers quotes compared on a couple pairs I was interested in:Ignored
DislikedStill though, I was surprised by the magnitude of the differences. And you are probably right that it has to do with minimum sizes, but let's say you wanted to do a 100k unit trade... Why would you ever go to MBT (wider spread & higher commission)?Ignored
DislikedI was about to pose this question to the MBT sales rep on his thread but perhaps you guys have the answers.... Being that they are an ECN (as is IB) I would have assumed they got the same rates as IB. Not so... Here are three brokers quotes compared on a couple pairs I was interested in:
AttachmentIgnored
DislikedYou basically just have to open a new page in your TWS (i.e. as if you were creating a page of stocks) and then pull in currencies instead....Ignored
DislikedThe 6E contract would be $2.46 for 1 contract (125,000 units of the Euro or about ~$165,000 USD). The commission on that same ammount via their spot forex broker would be...~$3.31 on IB (which would be roughly 125000 x 1.32 x 0.00002).
And as an added bonus of trading the 6E contract, you wouldn't have to reconvert your P/L back to USD, right?Ignored
DislikedThink you have it the other way around..
IB is 0.2 basis points ($20 per 1M USD) on their initial tier, has been for years. MBT is $29.50 per 1M USD, formally $50 up until they dropped their rate. MBT was pretty uncompetitive until they finally dropped their rate.Ignored
Crcy Min Max
USD 25,000 6,000,000
AUD 30,000 7,000,000
CAD 30,000 7,000,000
CHF 30,000 7,000,000
EUR 20,000 5,000,000
GBP 17,000 4,000,000
HKD 200,000 50,000,000
JPY 2,500,000 550,000,000
MXD 325,000 80,000,000
NOK 160,000 40,000,000
NZD 40,000 9,000,000
SEK 200,000 45,000,000
SGD 35,000 5,000,000