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MB Trading Futures - Introduction

  • #6,581
  • Feb 21, 2011 1:12pm Feb 21, 2011 1:12pm
Quoting PoundTrader
so when i trade with a broker who say they are connected to 60 banks on the currenex platform they are lying, so currenex is lying when they say on there website they are connected to banks you tell me

Read my post carefully my friend. I'm not saying that they are not connected to a bank. Of course they are...... for price feed matters, even you are connected to a bank when you go check your balance. Be connected to banks is not a big deal.

Now, what they are trying to say, is that they have something different than MM. ECNs and MMs are a place where you go and "bet" on price fluctuations.

Your small order never leaves the bucket alone. Aggregated orders my hit the interbank market as a bundle, lets say 20M or 50M, if their liquidity "providers" decide to use it, but your mini lot follow the same path either on a ECN broker or MM , so again what the ECN point?
  • #6,582
  • Feb 21, 2011 1:13pm Feb 21, 2011 1:13pm
Quoting PoundTrader
from my understanding currenex give the broker a chance to pad the spreads but not take the other side of the trade so all trades are STP/ECN. YOU TELL ME
http://www.currenex.com/about_us_prime_brokers.html
  • #6,583
  • Feb 21, 2011 1:15pm Feb 21, 2011 1:15pm
Quoting Platypus
Read my post carefully my friend. I'm not saying that they are not connected to e bank of course they are for price feed matters, even you are connected to a bank when you go check your balance.

Now what they are trying to say is that they have something different than MM. ECNs and MMs are a place where you go and "bet" on price fluctuations.

Your small order never leaves the bucket alone. Aggregated orders my hit the interbank market as a bundle lets say 20M or 50M if their liquidity "providers" decide to use it, but your mini lot follow...
what if there liquidity providers decide to accept 10k orders witch seems to be the trend these days to add more liquidity to the market
  • #6,584
  • Feb 21, 2011 1:17pm Feb 21, 2011 1:17pm
Quoting PoundTrader
what if your liquidity provider decide to accept 10k orders witch seems to be the trend these days to add more liquidity to the market
we don't know the agreement these brokers have with there LP.
  • #6,585
  • Feb 21, 2011 1:22pm Feb 21, 2011 1:22pm
Quoting PoundTrader
what if your liquidity provider decide to accept 10k orders witch seems to be the trend these days to add more liquidity to the market
Nope.....the interbank market where our charts come from is wholesale and the minimal size for a transaction is 100.000 and nobody trades just one lot. In 20 years working for banks I never dealt with a" one lot" order.....!! It is like if the USA contact Canada to buy a dozen of corn kernels. Can you imagine what a joke. Importers work in tones.

If you want to buy small quantities of cash you go to the "retail division" of a bank and do it. Or to a broker that buy wholesale and
'breaks" it for retailers

Interbank deal in double/triple digits up and with a M at the end.
  • #6,586
  • Feb 21, 2011 1:22pm Feb 21, 2011 1:22pm
Quoting PoundTrader
http://www.currenex.com/about_us_prime_brokers.html
http://www.currenex.com/about_us_white_label.html click on one
  • #6,587
  • Feb 21, 2011 1:24pm Feb 21, 2011 1:24pm
Quoting Platypus
Nope.....the interbank market where our charts come from is wholesale and the minimal size for a transaction is 100.000 and nobody trades just one lot. In 20 years working for banks I never dealt with a" one lot" order.....!! It is like if the USA contact Canada to buy a dozen of corn kernels. Can you imagine what a joke. Importers work in tones.

If you want to buy small quantities of cash you co to the "retail division" of a bank and do it.

Interbank deal in double/triple digits up and with a M at the end.
you don't know the market have change over the years
  • #6,588
  • Feb 21, 2011 1:31pm Feb 21, 2011 1:31pm
enjoy, im out, good luck to all
  • #6,589
  • Feb 21, 2011 1:42pm Feb 21, 2011 1:42pm
make no mistake im not a customer of MB Trading just some things i know from the inside
  • #6,590
  • Feb 21, 2011 1:47pm Feb 21, 2011 1:47pm
Quoting PoundTrader
make no mistake im not a customer of MB Trading just some things i know from the inside
what you know?, you serious
  • #6,591
  • Feb 21, 2011 1:54pm Feb 21, 2011 1:54pm
Quoting PoundTrader
what you know?, you serious
i guess bluff bluff pass
  • #6,592
  • Feb 21, 2011 3:58pm Feb 21, 2011 3:58pm
Quoting IndyTrader
You mean do they have an Open Orders window and a Positions window? Of course. Just demo the product, it comes right up.
i'm not talking about my open position/order. i'm talking about all mb trading clients postions/orders at different prices.
How do i set it up with market depth? thanks
  • #6,593
  • Feb 21, 2011 7:54pm Feb 21, 2011 7:54pm
I see in MB Trading's last report to the CFTC that they had only $796,000 more in adjusted net capital than the required $21,234,000 . Does this mean if there adjusted net capital falls another $796,000 they'll go bankrupt? If not, what happens at that point? thanks
  • #6,594
  • Feb 21, 2011 8:03pm Feb 21, 2011 8:03pm
Quoting Toothman
I see in MB Trading's last report to the CFTC that they had only $796,000 more in adjusted net capital than the required $21,234,000 . Does this mean if there adjusted net capital falls another $796,000 they'll go bankrupt? If not, what happens at that point? thanks
please know
  • #6,595
  • Feb 21, 2011 8:12pm Feb 21, 2011 8:12pm
Quoting PoundTrader
please know
,MBT has always been threading on thin ice
  • #6,596
  • Feb 21, 2011 8:25pm Feb 21, 2011 8:25pm
Quoting PoundTrader
,MBT has always been threading on thin ice
Hey poundtrader...are you Chuncky??
  • #6,597
  • Feb 21, 2011 10:37pm Feb 21, 2011 10:37pm
PoundTrader....?
  • #6,598
  • Feb 21, 2011 11:54pm Feb 21, 2011 11:54pm
Quoting Toothman
I see in MB Trading's last report to the CFTC that they had only $796,000 more in adjusted net capital than the required $21,234,000 . Does this mean if there adjusted net capital falls another $796,000 they'll go bankrupt? If not, what happens at that point? thanks
This was a big topic on the forums (which never amounted to anything) back when the push to $20 mil net cap was coming. They evidently have multiple entities (the stock brokerage I believe is the primary company as it has been around the longest) and they don't feel the need to show much extra capital on the FX side beyond the requirement as an STP pass through entity. They did say all along back then that they would show the $20 mil plus required when it was required, and then they put that amount in place right when the rule came into effect. I think the difference is that most FX brokers are just that and therefore, all of their net cap shows up in one place, whereas MB Trading Futures (the entity where you open a Forex account with MB) is just part of a series of companies. MB Trading is the company when you open an account with their stock entity, and they are registered with the SEC and FINRA and have cap requirements there as well (not to mention funds that they hold with their clearing firm, Penson).
FXChant Singing the World of Forex
  • #6,599
  • Feb 22, 2011 1:25am Feb 22, 2011 1:25am
Quoting jleblang
PoundTrader....?
yes
  • #6,600
  • Feb 22, 2011 8:56am Feb 22, 2011 8:56am
Quoting Platypus
You didn't get the point. I'm saying that ECN and MM are the same thing the only difference is the name ( and maybe how they charge you), ECNs can pool the same tricks on you and trade against you just like MM.

Most bucket shops "ECNs" are in the business of convincing you that trading with them is the closest way to the interbank market, which is a false statement

If you are a small trader and go to a bank building and physically buy euros you are bypassing the broker and buying from a institution that operates in the true interbank market....
wrong on almost all accounts......a market maker directly trades against all client orders and then buckets them to the market usually at rollover time......Market makers are the "bucket shop" they are not brokers they are dealers..... an ECN is an Electronic Communication Network........they offer to connect transactions over their system for a small fee......ecn allows traders like you and me to transact with one another.........and by the way if the dealer does not offer this service they cannot call themselves a "broker" they are a "dealer" a broker mearly facillitates market transactions, and charges a commission.......market makers cannot call themselves "brokerage" they must use the word dealer instead .....kinda like the crack dealers on the street corner.

since you earlier used the analogy of walking into a major bank as an example of an "interbank transaction" shows you obviously have no clue what the interbank is and how this market really lives and breaths........

for most of us trading mini or 1-2 standards an ECN such as MBT IB or Duka is the best way to get filled in a real market environment. With MBT placing an order inside the spread does change the quote......it may not move the market as a whole but say i put 10k between the spread at the same time thousands of other traders are going in at market.......maybe at 100k or 1million my 10k is going to get filled because im the best price when im between the spread

...........may not move the market but its like i jump in line........much better than entering at market price plus not only no commission i get paid.....................

with an ECN you get to trade against real traders and banks......with a Market maker your trading against your broker period.....you have no access to get filled by another trader or even a bank.........
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