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MB Trading Futures - Introduction

  • #6,461
  • Feb 8, 2011 10:57am Feb 8, 2011 10:57am
Quoting jleblang
You can also follow this on the third tab of the Pricing page of our site.

"Choose your favorite Forex symbol and compare our average real-time spreads over the last few days and hours against some of our competition".
yes against just some...
unprofessional and biased, comparing oranges and apples. Would you have the bollocks to compare you ECN with other ECN, and add to your list :
Divisa, Finfx, ATC, Go market, Dukascopy ? maybe some bad surprises.

Would you have the bollocks to compare your rollover rates ?, maybe again some bad surprises.
  • #6,462
  • Feb 8, 2011 11:34am Feb 8, 2011 11:34am
Agree, you should only compare commission based to commission based datafeeds, or somehow incorporate fees in the quotes.

Besides, FxIntel does compute this completely wrong. They need to use *time-weighted* averages, instead they average just all quotes in a given timeperiod. Suppose you want to compute the average spread for a certain minute of a day, and further suppose in 59 seconds of this minute the spread is 1.0 and for 1 second it drops to 0.5 - FxIntel will tell you the average spread is 0.75 for this minute. Its useless.

Most of the time eur/usd on MBT is 0.9 pip wide (and i stare at these quotes alot). Its certainly not 0.7 like FxIntel says if you time-weight it and not just average all given quotes.

Another problem with this sort of comparison is that it doesnt take size into account. On MB there are now often quantities below 1 mil on the best bid/ask (which is a total nuissance btw). You cant compare a 10K quote to a 10 mil quote.

So in short, for any meaningful comparison you need to account for fees and size, and then time-weight it. Im surprised MB compliance is ok with this sort of promotional material.

P.S. why did you take Oanda out of the comparison page?
  • #6,463
  • Feb 8, 2011 12:35pm Feb 8, 2011 12:35pm
Quoting jleblang
I’m looking at data right now from a third party.

 

  1. EURCHF average spreads over the last 8 hours was 1.68 pips.
  2. EURGBP was 0.89 pips.

You can also follow this on the third tab of the Pricing page of our site.

Yes, during the day it's close to 1.0 (it was close to 0.7 earlier). But as I've written only "in certain hours" the spread is becoming huge. I was giving the spread for those hours. I'm since June 2009 with MBT. EG never before was so high as 1.6, and EC as 3.5.

It's still the lowest comparing to other broker, but I hope it'll come to previous levels.

Regards
  • #6,464
  • Feb 8, 2011 12:39pm Feb 8, 2011 12:39pm
Quoting shrike
Agree, you should only compare commission based to commission based datafeeds, or somehow incorporate fees in the quotes.

Besides, FxIntel does compute this completely wrong. They need to use *time-weighted* averages, instead they average just all quotes in a given timeperiod. Suppose you want to compute the average spread for a certain minute of a day, and further suppose in 59 seconds of this minute the spread is 1.0 and for 1 second it drops to 0.5 - FxIntel will tell you the average spread is 0.75 for this minute. Its useless.

Most of...

Very true ! I actually hadn't thought about time-weighted data, makes totally sense. However, I still think the shown spreads give a good indication. Finfx e.g. is almost always showing 0.7 spread for the EUR/USD on hourly average day after day.


And well, if you take both spread AND comish into consideration, Oanda is still the best for most pairs/crosses.
  • #6,465
  • Feb 8, 2011 1:06pm Feb 8, 2011 1:06pm
Quoting shrike
Im surprised MB compliance is ok with this sort of promotional material.
Me too, in my country "comparative advertising" is strictly supervised, in this particular case there would be matter to be sued.
  • #6,466
  • Feb 8, 2011 11:16pm Feb 8, 2011 11:16pm
guys,anyone using the MBT's demo MT4 and experiences and see a lot of missing datas,esp on 1min's chart?? This question was asked quite some time back but justin still DIDNT answer it! sad with MBT now!
  • #6,467
  • Feb 9, 2011 1:47am Feb 9, 2011 1:47am
Quoting jleblang
....However, we have seen a huge influx of people requesting our SDK/API kit to program to us....
Like I so accurately predicted Make sure that you have an ability to auto-reject any limits that are not "non-actionable" Or however you program it to allow the user to ensure he gets the rebate. This needs to be done in both your MT Desktop and API.
Measure trends automatically with zero lag
  • #6,468
  • Feb 9, 2011 6:20am Feb 9, 2011 6:20am
Hi,

Where is the MBTrading Web platform!?
  • #6,469
  • Feb 9, 2011 6:48am Feb 9, 2011 6:48am
Can you tell me where is this broker located? Their market watch window has 5 hours difference from UTC time. Part of the world, country will be enough for me.
  • #6,470
  • Feb 9, 2011 11:35am Feb 9, 2011 11:35am
Quoting ybfjax
Like I so accurately predicted Make sure that you have an ability to auto-reject any limits that are not "non-actionable" Or however you program it to allow the user to ensure he gets the rebate. This needs to be done in both your MT Desktop and API.
Innovative....intelligent and I couldn't agree with you more. Your wish is our command. Stay tuned.
  • #6,471
  • Feb 9, 2011 12:05pm Feb 9, 2011 12:05pm
Quoting ybfjax
Like I so accurately predicted Make sure that you have an ability to auto-reject any limits that are not "non-actionable" Or however you program it to allow the user to ensure he gets the rebate. This needs to be done in both your MT Desktop and API.
+1
  • #6,472
  • Feb 9, 2011 1:24pm Feb 9, 2011 1:24pm
There is already someone there continously making a market for amounts less than 100K in eur/usd. Often something like 50K x 10K at 0.9 pips wide. Its easy to track this guy on L2.

Altho its impossible to say if its really an algo-trading client. Might as well be a marketmaking institution that has decided its enough to show less size (relative to average order size on mb) or iceberging a larger amount.
  • #6,473
  • Feb 9, 2011 2:07pm Feb 9, 2011 2:07pm
Quoting pavikogm
Yes, during the day it's close to 1.0 (it was close to 0.7 earlier). But as I've written only "in certain hours" the spread is becoming huge. I was giving the spread for those hours. I'm since June 2009 with MBT. EG never before was so high as 1.6, and EC as 3.5.

It's still the lowest comparing to other broker, but I hope it'll come to previous levels.

Regards
Unfortunately day after day it's getting worse. Exactly at 15:00EST EG has jumped from 1.0 spread to 1.4, and EC from 1.7 to 2.5. It was never before seen for 18 months trading with MBT. Are you really ECN ? I'm a bit doubthfull now... These are common practice of MM when it's looseing money
  • #6,474
  • Feb 9, 2011 3:20pm Feb 9, 2011 3:20pm
Quoting shrike
Agree, you should only compare commission based to commission based datafeeds, or somehow incorporate fees in the quotes.

Besides, FxIntel does compute this completely wrong. They need to use *time-weighted* averages, instead they average just all quotes in a given timeperiod. Suppose you want to compute the average spread for a certain minute of a day, and further suppose in 59 seconds of this minute the spread is 1.0 and for 1 second it drops to 0.5 - FxIntel will tell you the average spread is 0.75 for this minute. Its useless.

Most of...
Wouldn't you say that's pretty much the issue with comparing any brokers? Doesn't really matter what they say their quotes are if you can't get filled for size at or near those prices. I tried an ATC account and got horrible fills even though the spreads looked tight on the screen. I think spread comparisons are a waste of time, as are demo accounts. People need to trade small size with a broker that they think has what they want to really find out. What MB does from a marketing perspective is their concern. I think they laid those pages out very nicely to explain how their system works, but again, if you use market orders both ways, they might be more than certain other brokers...if you can get fills. But at the same time, if you use Limits and Take Profits a lot, there is no doubt that this is pretty cheap.
  • #6,475
  • Feb 9, 2011 3:51pm Feb 9, 2011 3:51pm
Quoting FrankBlack
Justin congratulation on your new policy to pay trader who trade with limit orders.

My commission expenses are way down.

MBT continues to take steps to the right direction for the benefit of the traders.
Frankblack,

Thank you. Glad to see that people are starting to see the savings.
  • #6,476
  • Feb 9, 2011 3:51pm Feb 9, 2011 3:51pm
Quoting signorx
Hi,

Where is the MBTrading Web platform!?
Signorx,

We are currently Beta testing our HTML trading platform, which will allow you to trade straight from your account statements in the Client Secure Area.
  • #6,477
  • Feb 9, 2011 3:51pm Feb 9, 2011 3:51pm
Quoting LocoGuy
Can you tell me where is this broker located? Their market watch window has 5 hours difference from UTC time. Part of the world, country will be enough for me.
Locoguy,

http://www.mbtrading.com/contact.aspx
  • #6,478
  • Feb 9, 2011 3:53pm Feb 9, 2011 3:53pm
Quoting pavikogm
Unfortunately day after day it's getting worse. Exactly at 15:00EST EG has jumped from 1.0 spread to 1.4, and EC from 1.7 to 2.5. It was never before seen for 18 months trading with MBT. Are you really ECN ? I'm a bit doubthfull now... These are common practice of MM when it's looseing money
Pavikogm,

Just to be clear, although this has been stated too many times on this thread over the years, we are both an ECN and STP broker. STP means that we compile quotes and route executions to several banks. ECN means that we also have a place to display our customer limit orders and let other customers hit them if they are the best price. To prove that we have an ECN, simply put up an order to buy or sell inside the spread, and you will always, 100% of the time, see your order change the price. Not sure what else there is to say about that. If there are no customer orders at the time, then just bank pricing would be available. So for example, 15:00 EST is a pretty dead time in the market. If our automated traders typically turn off their systems at that time, then you would mostly only see banks. If one bank happens to carry the tightest spread at 1.4 pips most of the time, then that would explain why you see 1.4 pips in the less active time of day on average.
  • #6,479
  • Feb 9, 2011 3:54pm Feb 9, 2011 3:54pm
Quoting fxking
guys,anyone using the MBT's demo MT4 and experiences and see a lot of missing datas,esp on 1min's chart?? This question was asked quite some time back but justin still DIDNT answer it! sad with MBT now!
Fxking,

Please send me screenshot and I will compare to what I see. Another way is simply to open a live account and get the live data. Bet you won’t see any gaps there.
  • #6,480
  • Feb 9, 2011 3:57pm Feb 9, 2011 3:57pm
Quoting shrike
There is already someone there continously making a market for amounts less than 100K in eur/usd. Often something like 50K x 10K at 0.9 pips wide. Its easy to track this guy on L2.

Altho its impossible to say if its really an algo-trading client. Might as well be a marketmaking institution that has decided its enough to show less size (relative to average order size on mb) or iceberging a larger amount.
Shrike,

We are aware of how FX Intel calculates the spreads. They will be refining it over time and make the API very easy for us to use, which is why we went with them. You will see improvements in how this works over time. All part of the plan.
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