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MB Trading Futures - Introduction

  • #6,661
  • Mar 3, 2011 10:13am Mar 3, 2011 10:13am
Quoting LocoGuy
Thank you for your answer! I contact support and got all this information. As I understand commission is some how calculated, not a fixed value. Also can't find the name of you account. Like Alpari has Micro, Classic and MT4 Pro (ECN) accounts? Do you have the same naming?
LocoGuy,

Commissions are calculated based on volume traded. Here are some examples based on four different trade scenarios. MBT Fees

MB Trading does not differentiate between micro/mini/standard accounts. All accounts are 1 lot = 10K.

As an ECN, non-deal desk broker you can choose your lot size based on your available buying power. You enter in the lot size as follows:

 

  1. 1 micro lot = 0.10 lot.
  2. 1 mini lot = 1 lot.
  3. 1 standard lot = 10 lots.

  • #6,662
  • Mar 3, 2011 10:25am Mar 3, 2011 10:25am
Quoting Traderji
There is something fishy going on in account opening process. I opened a Metatrader live account with MB Trading a few weeks ago. Yesterday while looking at my account management page, I noticed under 'Signed Agreements' there was listed a "Consent to Arbitration". I specifically remember that I said "No" to the question in application for giving this Consent. Yet here it was listed as a signed agreement. I sent an email to support@mbtrading asking them to please explain.

Meanwhile it turned out that the Metatrader account is not really suitable...
Traderji,

Nothing fishy is gone on here, but I need you to send me your account number to [email protected] so I can research this further for you.

There is a known issue from a recent OLA update, that in some random cases, clients answers weren't captured properly during the OLA process. We already have fix for it and it will be in place soon.
  • #6,663
  • Mar 3, 2011 10:36am Mar 3, 2011 10:36am
Quoting shrike
Its neither, tickvolume is just the number of ticks that occured during this bar.I.E. if price changes 10 times during a 5 minute bar, it will have a tickvolume if 5. It has nothing to do with volume (neither traded nor quoted).
Thanks for the response. So that means that the volume bars displayed at the bottom of the chart are not volume, but just number of price changes?

Can you tell me why I get many ticks that have no price change? Is it perhaps that the bid/ask has changed?
  • #6,664
  • Mar 3, 2011 10:49am Mar 3, 2011 10:49am
Quoting MadCow
Thanks for the response. So that means that the volume bars displayed at the bottom of the chart are not volume, but just number of price changes?

Can you tell me why I get many ticks that have no price change? Is it perhaps that the bid/ask has changed?
The charts are based on the bid-price. If either bid- or ask-price, or their respective size changes, you get an update. If either ask-price, bid-size or ask-size changes, you get a new tick but no price-movement on the chart, just an increase in tick-volume (which is in my opinion a rather useless metric).
  • #6,665
  • Mar 3, 2011 1:20pm Mar 3, 2011 1:20pm
We are currently experiencing some issues with our Demo environment related to a new MetaTrader Server build that was released by MetaQuotes this Sunday. It has no impact on the Live environment, as the Live environment isn’t updated until Demo testing is complete. This will cause some disconnects during the day, which can lead to orders becoming stuck open. We are working to resolve this conflict and will likely be pushing an update to the MT4 Demo environment in the next few days at 5 pm EST rollover. When this occurs, we will have to delete all Pending and Open trades in order to make MetaTrader match the Demo Trade Server. If we don’t do that, it will cause further problems, so it is sadly unavoidable. We are also looking at switching the Demo environment to GMT + 2 potentially with this update when it occurs. Sorry for the inconvenience. No updates will be posted to Live until they are completely tested, so the Live environment remains stable as always.
  • #6,666
  • Mar 4, 2011 1:43am Mar 4, 2011 1:43am
Quoting jleblang
[font=&quot]We...
justin,your MBT MT4 is down again,fr 1.39-2.16 ! why your MT4 is always down???
  • #6,667
  • Mar 4, 2011 2:30am Mar 4, 2011 2:30am
Quoting jleblang
Ah - then you'll need to log in to the account manager from the top of our website and create a new demo.
justin,whats the difference between the Demo MT4 download fr MBT's website and those AFTER logging into the Live acct and download fr there? Is it that u download fr(After logging in) is more stable and really is Live's platform type-same as Live MT4's platform? No frozen screen,No down time,etc? Unlike those fr normal download fr MBT's website?
  • #6,668
  • Mar 4, 2011 12:32pm Mar 4, 2011 12:32pm
Quoting Traderji
There is something fishy going on in account opening process. I opened a Metatrader live account with MB Trading a few weeks ago. Yesterday while looking at my account management page, I noticed under 'Signed Agreements' there was listed a "Consent to Arbitration". I specifically remember that I said "No" to the question in application for giving this Consent. Yet here it was listed as a signed agreement. I sent an email to support@mbtrading asking them to please explain.

Meanwhile it turned out that the Metatrader account is not really suitable...


Just to conclude this saga. In the past 48 hours I have received 3 completely different answers from MB Trading on this issue.

Answer A - Justin here at Forexfactory replied that there was a bug with the online web application and my issue is possibly due to that.

Quoting jleblang
Traderji,

Nothing fishy is gone on here, but I need you to send me your account number to [email protected] so I can research this further for you.

There is a known issue from a recent OLA update, that in some random cases, clients answers weren't captured properly during the OLA process. We already have fix for it and it will be in place soon.

Answer B - From the Manager of New Accounts at MB Trading. She says that even though it is listed as a Signed Agreement/Document , it actually means that I have only read the document and *not* agreed to it. huh what? In their bizarro world apparently "Signed Agreement" means "Only Read This Agreement And Not Signed or Agreed To It"... and keep in mind this is only for the Consent to Arbitration, every other document listed in there is a normal signed document.


A few minutes ago I received the third answer, this time from their customer service department.

Answer C - I am quoting here "If you do not agree to the Consent to Arbitration then we cannot accept your application.".... omfg... Did this moron even bother to read my compliant?


Take the above as you will. I am just letting people know the facts. I personally have grave doubts about the competence of MB Trading after this whole episode and certainly am not going to put any of my money at risk, trading with them.
We're all stories in the end. Just try to make it a good one.
  • #6,669
  • Mar 4, 2011 2:14pm Mar 4, 2011 2:14pm
if you don't use a lot of limit orders mb trading can be very costly, as much as 20 to 25% of your profit.
  • #6,670
  • Mar 4, 2011 2:39pm Mar 4, 2011 2:39pm
Quoting Traderji
Just to conclude this saga. In the past 48 hours I have received 3 completely different answers from MB Trading on this issue.

Answer A - Justin here at Forexfactory replied that there was a bug with the online web application and my issue is possibly due to that.




Answer B - From the Manager of New Accounts at MB Trading. She says that even though it is listed as a Signed Agreement/Document , it actually means that I have only read the document and *not* agreed to it. huh what? In their bizarro world apparently "Signed Agreement"...
Traderji,

Let’s start with A & C.

A. This was a correct statement. There is a known issue from a recent update, but as I mentioned, it should be fixed shortly. However, at the time I did not have your account info, and I was only making an assumption that your account might have been effected. After review, it ultimately was not.

C. I acknowledge the fact you received an incorrect response from our customer service rep. We have already identified where the mistake came from and made sure all members in the CS department are aware of the proper procedures regarding the Consent to Arbitration forms. I hope you’ll accept this as human error and understand regardless if you consent or do not consent, we will still accept your account.

Regarding B.

Let me clarify this for you, because I can understand why it might be confusing, and based on this event with you, we will be making changes as to how it reads in the future.

The documents that you view in your account manager as “sign agreements” are part of the last page (signature page) in the OLA and mean that you acknowledge you have at least read the disclosures. This is why they say "yes" but again, I agree the way this is phrased is confusing and we will be amending to make it much easier to understand. Those should be listed as "acknowledged or read", not "signed".

The actual questions “Do you consent to voluntary arbitration?” was found on the second page of the OLA, question #18 with the option of YES/NO.

This is where you actually accept or decline the optional arbitration clause and when I pull up your account and look under “account holder”, question #18 is marked as false, meaning you do not consent. If you wish, I can provide you with a screen shot from your account to prove this.
  • #6,671
  • Mar 4, 2011 3:39pm Mar 4, 2011 3:39pm
Justin: will MBT ever provide european market-coverage (eurex, liffe, stocks etc)? Ross D. told me "soon" - but that was 2 years ago..

Will you start releasing infos/stats on your fx operation, like some other firms recently started doing (gain, fxcm). Things like average monthly volume, customer equity, fill statistics, how many marketmakers and so on ? It appears thats the new fashionable thing to do..
  • #6,672
  • Mar 4, 2011 4:47pm Mar 4, 2011 4:47pm
Quoting shrike
Justin: will MBT ever provide european market-coverage (eurex, liffe, stocks etc)? Ross D. told me "soon" - but that was 2 years ago..

Will you start releasing infos/stats on your fx operation, like some other firms recently started doing (gain, fxcm). Things like average monthly volume, customer equity, fill statistics, how many marketmakers and so on ? It appears thats the new fashionable thing to do..

Thank you for asking. Here is what I can tell from discussing with my management:

1. Yes we will be in Europe, are you currently hindered by us not being there? What country are you in as there are changes to foreign countries we can open accounts for and thus we may be able to open you account now?

2. We currently see no reason to disclose anything beyond regulatory requirements unless we see that such information would be helpful to the customer or pubic as opposed to simply inviting debate and speculation. We believe our quotes, executions and Pay to Post speaks more about us currently then a set of self-help designed statistics

3. With regard to fill statistics, when we start putting more information forward it will be information we again deem to be helpful and important just like the rebates on our front page. We do not believe anything has been put forth by competitors that we find to be a basis for debate as most facts like standardization of terms are not in place and thus can easily be interpreted incorrectly. As an example “Price improvements”.

4. Market makers are added constantly, we do this to keep that liquidity flowing and to keep the banks happy. At this time (though this certainly may change in the future) we see no reason to tell all what banks we use. Suffice to say we use the banks which we receive great service from.

 Thank you again for the patience and support Shrike.

Update: We will be offering FX first in Europe then expand to other asset classes. Sorry it has taken so long, but other things have taken precedent.
  • #6,673
  • Mar 4, 2011 4:53pm Mar 4, 2011 4:53pm
Quoting PoundTrader
if you don't use a lot of limit orders mb trading can be very costly, as much as 20 to 25% of your profit.
LOL. That's the dumbest statement I've heard today. Wouldn't it matter how many pips you are taking in profits to make that statement? Looks to me like the fees would only take 20-25% of your profits if you were trading to make about 5 pips on the GBPUSD. Who the hell trades for 5 pips? No one that makes money, that's who. If I trade to make 50 pips, the fees barely touch the profit.
  • #6,674
  • Mar 4, 2011 5:13pm Mar 4, 2011 5:13pm
I meant market-access to european futures/stocks rather than an MBT UK-presence (or where ever). I understand Penson could handle this easily..

Did you stop offering bond-trading? Cant find anything on the new website.
  • #6,675
  • Mar 4, 2011 6:45pm Mar 4, 2011 6:45pm
Quoting IndyTrader
LOL. That's the dumbest statement I've heard today. Wouldn't it matter how many pips you are taking in profits to make that statement? Looks to me like the fees would only take 20-25% of your profits if you were trading to make about 5 pips on the GBPUSD. Who the hell trades for 5 pips? No one that makes money, that's who. If I trade to make 50 pips, the fees barely touch the profit.
  • #6,676
  • Mar 5, 2011 6:31pm Mar 5, 2011 6:31pm
Justin, do you plan to make trading US stocks available to the UK residents in the near future?
As for the forex account, if I want a British pounds based account, as far as I remember, you have this option available already, is that right? Does it come with a possibility to deposit/take money via British banks avoiding paying iternational transfer fees? I couldn't find this information advertised anywhere on the website. If I want to change my current dollar based account to pounds, do I need to apply for a new account from scratch?

Also, does your mobile platform support accounts based on currencies other than USD?
  • #6,677
  • Mar 6, 2011 1:18am Mar 6, 2011 1:18am
Quoting PoundTrader
  • #6,678
  • Mar 6, 2011 1:55am Mar 6, 2011 1:55am
Quoting IndyTrader
stop making fun of me ,
  • #6,679
  • Mar 6, 2011 7:05pm Mar 6, 2011 7:05pm
Did MB change its trading hours? H4 candles used to roll over at 8pm New York time. Today, it looks like it will happen at 9pm. I'm trying to see if this is something with my platform, or a change at MB.
  • #6,680
  • Mar 7, 2011 3:10am Mar 7, 2011 3:10am
Quoting PoundTrader
if you don't use a lot of limit orders mb trading can be very costly, as much as 20 to 25% of your profit.
In my opinion MBT is currently the most economical solution, what other ECN brokers are more cheaper? Perhaps Dukaskopy but only if you tread very much (more than 25M lots) or if you have a lot of money ($ 50K) and this if you make 2 market order per round. If instead like 99% of times you make a market order and a limit order per round is even more true. Infact fees become $29.5 - $19.5 = $ 10 per round (1M treaded), for these commissions with Dukascopy you must have a $10M account or trade 4Bilions dollars.
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