MB Trading Futures - Introduction

"Typical penis envy from people from tiny insignifigant places

I think he was eluding (alluding ? ) to the fact that it isn't just a move by the US, its a worldwide move in progress....Japan went to 50:1 last month, and will move to 25:1 next year after they review the results of the 50:1 move.

Forex gets lumped in with all over the counter derivitives, and you can bet your arse will get taxed and over regulated everywhere given time in the wake of the mess complex derivitives played in the current bubble burst.

Sarkozy is foaming at the mouth for a tax now."

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Hmmm, you certainly sound impressive taking about OTC derivs and all that.
Well i will have to accept your expert opinion....i can't be bothered googling up a few buzzwords to argue with you.


I imagine the sec/finra brokers will be forced to accept 50:1 soon too eh !

Peace
P.S

Im happily trading at 100:1 here in Australia (the account has 400:1 option but you know....im self regulating.... a concept that seems to be unknown in nanny states.)

That chart that you posted makes no sense, the sell price is 77.66 on the chart not 77.35. How can you have a SL @ 77.55, that is below the sell entry point.

Hi Justin,

I had orders that were looked at by the "Head of Operations" and were basically ignored.
I had orders that dated way back to 6th May during the "Flash Crash" that did not even trigger. As you probably know by now, the "Flash Crash" only affected NYMEX. We (in Forex) were not supposed to be affected. Your liquidity provider basically pulled the plug when the flash crash happened. I even had a sell stop that was not triggered 2 hours before the flash crash. At that time I had to call support to get someone at the desk to activate the order 3 hours after I put the sell stop. Afterwards, that pair had already bottomed out and I had to exit that order immediately. That order would have netted 130 pips but was somehow ignored by the system.

Nowadays, I really couldn't be bothered to disturb the nice people at the trading desk and support desk anymore because from now on the trades that are done are only for experimental reasons. Trading is already hard enough and I don't want to waste anymore time distrurbing the trading desk or support. I did a test on the previous NFP and because of the whipsaw, the position closed 30 pips beyond the actual stop loss.
The test I did from the last NFP was a little bit better but was also not perfect since the price was able to move beyond the stop loss that we put out. This is very scary trading when your stop losses don't work for the first minute or so. However, it ended up ok as there was another wave of buyers pushing UJ higher. The position finally closed just when we tried to call support.

There was another case I tested on 23 July and that was scary when the market close orders didn't work, even scarier was that there was no logs to prove it. This was, of course and as usual, during high market volatility.

I'm currently considering CME FX futures instead since it is a lot more safe and the system seems to be order driven rather than quote driven. However, I'm not sure if we can negotiate the special CME scheme whereby you get a special low rate when you trade 50 positions or more a day as MB trading is not a clearing house for CME. It is obviously preferrable to pay two parties instead of three parties.

Couldn't you just sum this up with "I try to trade during the most illiquid moments and they seem to be illiquid." Would have been shorter.

Finally got the MT4 demo working. I couldn't place limit or market orders so MB had to create a new account for me but at least I have a working trial now.

I am impressed with their customer service so far. I had emails from them straight away when they noticed I was having problems placing orders (I did not have to contact them, they contacted me first, although they thought I was attempting to place hedge orders rather than having an issue with the platform).

Orders appear to be placed and closed promptly although I would expect no less from a demo account. I will definitely consider using them based purely on their customer service. I'll check how they play over news times (not that I trade news, but some brokers 'spike' on news releases due to low liquidity and it throws me off my game) and the course of the next month or so, but so far looking good!

....always has...better off to open an account at minimum.

cheers

Are you saying that the MBT MT4 demo is worse than the live platform (in which case their live platfom must be excellent), or are you saying that MBT as a broker 'stinks'?

Curious to know your experience with their live platform (if you have/had a live account with them) and how they handle speed of execution and fills at requested price.

Thanks

Because it also does not happen during all high volatility times like the last RBA rate decision. There was no spread widening or delayed execution or disabled stop loss during the AUD rate decision. If you have been trading a while, you will know how important volatility and reliability is to traders.

I have been trading and testing MBT for a couple of days and decided to RESET the account balance by creating new account (I do this with other demos). When I did this, I got error messages on MT saying Offquotes so I chatted with their Support guys and basically since I reset the account, I have to wait for roll over - I said I am demo testing a couple of other platforms and never had this issue and I mentioned I am a bit concerned that if demo has certain issues like this, then LIVE may be a suspect. Just a normal concern I thought. The support guy on the phone at this time said..."Oh, you are thinking backwards! It's only a demo!" - Wow, a demo should give potential clients confidence in the platform not backwards. MB Trading has been touted by a few people so I decided to try them out, but with responses like that - like it was no big deal since they are just testing new upgrades they made over the weekend, makes me pause regarding their service.

To MB Trading - DEMO is to provide confidence, not function as a QA environment of new codes. Unless Forex is a different beast, that's the idea on QA vs Production. I really wanted to use these guys.

Here are a couple upcoming webinars I thought you should know about:

Tonight - MetaTrader 4 & Desktop Pro Comparison - This Webinar will go over the basic functionality of the MetaTrader 4 and compare it to the features of the Desktop Pro. This webinar is useful for clients who are trying to decide between the two platforms for trading forex.
Register Now

9.13.2010 - MetaTrader 4 & MB Trading - This training will go over the basic functionality of MetaTrader 4 in correlation with MB Trading. The topics will include set up, overall features, preferences, order entry, and charting. The training will also discuss the differences between MB Trading's ECN (non-deal desk) MT4 versus generic MT4 concerning Expert Advisors and other areas.
Register Now

9.14.2010 - MBT Desktop Pro Charting - This training will go over the features and functionality of the MBT Desktop Pro platform in regard to charts. The topics will include set up, preferences, order entry from the chart, studies, and plugins.
Register Now

Attention all current and potential future MB Trading customers. I want to let you know of a very scary and disturbing experience I had and am currently experiencing with MB Trading's ACH funds transfer service.

Earlier this year I registered for the ACH funds transfer service that MB Trading offers as a way to easily move funds back and forth between trading account and bank account for free. I have made several such transactions this year without issue. Yesterday (Sept 7) an unauthorized ACH debit was taken from my bank account. The sum was large enough to empty my checking account and cause me to be hit with an overdraft fee. I want to stress that my account was not hacked; there are no support tickets on MB Trading's website that indicate that any ACH debit request was made by anyone. When I initially spoke with customer service this morning, they did not see any indication that an ACH debit had been made at all.

I eventually ended up speaking with Danny from the cashiering department, and he has thus far been helpful and courteous. After doing a bit of digging in the system, he found that, indeed, there had been an ACH debit made without any authorization. There seems to be no clear reason, atleast that I am yet aware of, for this transfer of funds from my bank account to have taken place. It seems to me that MB's ACH service simply "went rogue" and removed money from my bank account without any prompt from a human. Danny spoke of having to fill out some paperwork with Wells Fargo (the bank MB Trading uses) in order to get the transaction reversed.

As of this evening, all I know is that the money that was withdrawn is supposed to be in the process of being returned to my bank account sometime in the next few days. I have yet to be offered any sort of explanation for how something like this could happen. As you can imagine, I am very upset and disturbed by this, although MB's customer service has been helpful so far. Anyone who is thinking about signing up for MB's ACH service should probably think twice.

I will post an update in this thread when I learn more.

Someone probably just typo'd an account number. Mistakes happen. MB has been around way too long for this to have been intentional. Sucks for you, but if this was something that happened regularly, they'd already be out of business. I've been on these threads for years and never seen another mention of an issue getting funds.

Update: it seems it was indeed a typo, a human error. I have been told that new security measures are being implemented to prevent this. The money is being returned to my account soon, and I am being compensated for the overdraft fee. Danny from the cashiering department has been very helpful, and I am impressed with their customer service. Although this incident was a pretty serious transgression I feel, overall I have been pleased with MB Trading as my broker. I have not had a single issue with them before this and I have been with them for two years. It seems that this was a very rare and unfortunate incident, and I'm willing to overlook it because they seem to me to be one of the most honest forex brokers in the business.

Does anyone know if there is a way to place "stepped" trailing stops in either MBT Desktop or MBT Desktop pro such that the stop is moved only after a certain pip move in price. For example I would like the trailing stop to move up 30 pips after every 30 pip move in price. I don't like the pip for pip trailing stop as it does not give the market much room to breathe.

I see some other brokers offering this feature and I was unclear from the MBT Desktop documentation whether or not this is possible with MB Trading. Any help would be appreciated. Thanks.

Hey Justin,

I started forward testing an EA on a demo account last week. The EA had accumulated 50 open positions(using microlots). The EA attempted to execute its CloseAllOpenPositions function, where it basically runs a loop trying to close positions until all are closed. It got to about 40 closed positions and I then got a message saying "Account Disabled". I removed everything, shut down metatrader and attempted to relogin, got the same message "Account Disabled" and could no longer login to the account. I am wondering, is there some kind of flood protection where if there are too many requests to the server that an account would be disabled? Would anything like this ever happen on a live account, where running an EA could actually cause your account to be disabled?

Great article from E-FOREX Magazine: http://ow.ly/2DHZ8

Excellent user name and yes he does.

Good to here your problem was handled.

Several of you were Beta testers for us a couple of months ago when we launched Euro-based accounts for our Desktop/Desktop Pro accounts. We are now ready to accept Euro-based MT4 accounts. I am looking for about 5 people to be the first to go through the process of opening a Live Euro-based MT4 account. Please contact me via private message if you are interested. We expect to have this available for everyone in a matter of weeks. In addition, several other currencies as base accounts are about to be available.

There has been some significant testing of these separate base currencies on a new build of our MT4 bridge over the last two weeks that has caused some issues in our Demo environment. This testing is almost complete and the Demo environment should return to a more stable state once that is done.

9.20.2010 8PM EST - ECN MetaTrader 4 vs. Generic MetaTrader 4

Ever wonder exactly what the differences are between MB Trading’s ECN-based MetaTrader 4 and other brokers’ versions? Tonight is the night to find out. Come join us for a 45-minute presentation and Q&A that will highlight the differences.

Register Now

Why is mbtrading's overnight swap rate so high? Other ecn brokers are offering positive swap rate while mbtrading's swap rate is super negative. Why is this so? Is there anyway to reduce the swap rate?