MB Trading's forex announcement next week -just hype or possible game changer? | Forex Factory

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MB Trading's forex announcement next week -just hype or possible game changer?

  • #1
  • First Post: Jan 20, 2011 10:45pm Jan 20, 2011 10:45pm
Is it just the iphone app's 'official' release or do they have something bigger in store? Just curious if anyone has any thoughts or insight on this.
  • #2
  • Jan 21, 2011 8:28am Jan 21, 2011 8:28am
Quoting Gidyup
Is it just the iphone app's 'official' release or do they have something bigger in store? Just curious if anyone has any thoughts or insight on this.
we will find out next week, it better be bigger then a damn iphone app
  • #3
  • Jan 21, 2011 9:11am Jan 21, 2011 9:11am
Quoting Gidyup
Is it just the iphone app's 'official' release or do they have something bigger in store? Just curious if anyone has any thoughts or insight on this.
I've made a few calls to their support trying to dig around. Can't even get a hint. Either it's not that big a deal or they have this thing on lockdown.
FXChant Singing the World of Forex
  • #4
  • Jan 21, 2011 9:51am Jan 21, 2011 9:51am
I was curious about this, too. Since they already have the iPhone app out there, I doubt it's that or an Android app announcement. Seems to me it would be something an order of magnitude higher than that kind of announcement. Whatever it is, it better be right up there with sliced bread or I'm gonna be pissed :-)
  • #5
  • Jan 21, 2011 11:38am Jan 21, 2011 11:38am
Maybe automated trading , or do they have this already " beside the EA's " i dont know ?

No commission or low commission for limit orders ( add liquidity ) ...

Forex options ECN ....
  • #6
  • Jan 22, 2011 12:00pm Jan 22, 2011 12:00pm
Maybe they are going to slash their sizeable forex commission rate :-)
  • #7
  • Jan 22, 2011 12:33pm Jan 22, 2011 12:33pm
Quoting Trader32
Maybe they are going to slash their sizeable forex commission rate :-)
  • #8
  • Jan 25, 2011 9:54am Jan 25, 2011 9:54am
http://www.mbtrading.com/pricing.aspx
  • #9
  • Jan 25, 2011 10:01am Jan 25, 2011 10:01am
Quoting tar
http://www.mbtrading.com/pricing.aspx

This is possible starting from today ?

Let's see if the spread comes down...what is the typical spread for the EUR/USD ?
  • #10
  • Jan 25, 2011 10:12am Jan 25, 2011 10:12am
Quoting Cocoflanel
This is possible starting from today ?

Let's see if the spread comes down...what is the typical spread for the EUR/USD ?
Effective date: January 30th, 2011
  • #11
  • Jan 25, 2011 10:22am Jan 25, 2011 10:22am
i like it but whats the diffrence from my current broker, lets say the current price is 1.58518 and i place a but limit order at 1.57518 and my current broker fill me at 1.57508, this happens to me on 99% of my limit orders i allways get a better fill because price never trade at 1.57518, is it because you guys get the spread diffrence is why you paying out some money, and other words you fill me at 1.57518 but the true fill was at 1.57508, i ratter get a better fill then a rebate, please explain
  • #12
  • Jan 25, 2011 10:32am Jan 25, 2011 10:32am
Quoting PoundTrader
i like it but whats the diffrence from my current broker, lets say the current price is 1.58518 and i place a but limit order at 1.57518 and my current broker fill me at 1.57508, this happens to me on 99% of my limit orders i allways get a better fill because price never trade at 1.57518, is it because you guys get the spread diffrence is why you paying out some money, and other words you fill me at 1.57518 but the true fill was at 1.57508, i ratter get a better fill then a rebate, please explain
LOL. You have a broker that always fills you at BETTER than your Limit price. Please tell us who that is. So they aren't displaying your order to the market, they just magically give you better fills than what you want? Please. Name and website, I'm opening with them right now.
  • #13
  • Jan 25, 2011 10:39am Jan 25, 2011 10:39am
Quoting IndyTrader
LOL. You have a broker that always fills you at BETTER than your Limit price. Please tell us who that is. So they aren't displaying your order to the market, they just magically give you better fills than what you want? Please. Name and website, I'm opening with them right now.
Ig markets fills my market order at better price this happens sometimes only when the market jumps against me , but this mb offer is better ...
  • #14
  • Jan 25, 2011 12:10pm Jan 25, 2011 12:10pm
Guess it wasn't just a bunch of hype. Impressive stuff, MB Trading.
  • #15
  • Jan 25, 2011 12:28pm Jan 25, 2011 12:28pm
Wow, that's pretty crazy. So if I enter AND exit a EurUsd position with Limits, then the total cost of the trade (spread + comm) will be less than .4 pip. That's even better than Oanda's best of .9. And if I enter with Limit and exit with Market (my usual way), total cost is just over 1 pip. Very nice indeed. If this works as advertised I will start trading with MBT again instead of Oanda.
  • #16
  • Jan 25, 2011 2:19pm Jan 25, 2011 2:19pm
They really did lower their commissions!!!! Be interesting to see how this works and if orders will get filled properly. It is certainly attractive if you can get total costs down to circa 0.4 pips on the EURUSD. I have an account with them so may try it out.
  • #17
  • Jan 25, 2011 2:46pm Jan 25, 2011 2:46pm
If you're a price maker 0.1 away from the market, it could actually be less than 0.4 r/t. If you're willing to sit 0.1 on top of the bid (or 0.1 below the ask) and wait for a fill, you're effectively earning the spread and being paid the rebate.

I imagine that execution likelihood would increase significantly if you entered limit at the bid/ask midpoint, in which case you are neither earning/paying the spread, but still receiving the rebate.

Lastly, you could enter limit at 0.1 from the bid/ask (0.1 above bid, 0.1 below ask) thus nearly guaranteeing execution (market only needs to move 0.1 for you to be filled), while paying a fractionally lower spread and receiving the rebate. This opens up a lot of options. It'll be interesting to see how their intra-spread execution is enhanced by this.

Definite game changer though. I've been waiting a very long time for FX ECNs to begin offering liquidity rebates the way equity ECNs do. I assumed if it ever happened, it would be one of the institutional platforms first (EBS, Hotspot, etc). Very glad to see it was a retail broker who beat them to the punch (I imagine the inst. platforms will be playing catch-up rather quickly before an exodus of their hedge fund/high-freq clients move to MBT).
  • #18
  • Jan 25, 2011 5:03pm Jan 25, 2011 5:03pm
EBS has a passive/aggressive commission scheme as well (but only lower commission for price-makers, no rebates).

Its going to be interesting how much the impact on displayed liquidity will be.

One possible problem tho: i guess there will now be much more small orders from clients on the inside mkt, so when you want to trade more (say 500k) its not immediately obvious what price you pay. Now the top-of-the-book quote is good for +1m in 99% of the cases. The navigator depth window should get an option to display a user-defined vwap-quote, like currenex or hotspot. The quoteboard will be much less useful when people constantly post 1000 unit orders between bid/offer.
  • #19
  • Jan 25, 2011 8:59pm Jan 25, 2011 8:59pm
Quoting shrike
EBS has a passive/aggressive commission scheme as well (but only lower commission for price-makers, no rebates).

Its going to be interesting how much the impact on displayed liquidity will be.

One possible problem tho: i guess there will now be much more small orders from clients on the inside mkt, so when you want to trade more (say 500k) its not immediately obvious what price you pay. Now the top-of-the-book quote is good for +1m in 99% of the cases. The navigator depth window should get an option to display a user-defined vwap-quote, like...
I think Reuters pay u if u r a price maker ...
  • #20
  • Jan 26, 2011 2:16am Jan 26, 2011 2:16am
Quoting Trader KGB
If you're a price maker 0.1 away from the market, it could actually be less than 0.4 r/t. If you're willing to sit 0.1 on top of the bid (or 0.1 below the ask) and wait for a fill, you're effectively earning the spread and being paid the rebate.
Earning the spread ?
Isn't this only the case when the market takes you out at your limit price and turns immediately the other way ? Most of the time this won't happen...
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