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MB Trading Futures - Introduction

  • #6,741
  • Mar 9, 2011 2:35am Mar 9, 2011 2:35am
Quoting $$Trader
Yup, I was observing their price movement on Demo acct for both their mt4 platform and their desktop pro yesterday. What I saw was that mt4 price (with occasional hanging) moved down together with other mt4 broker (I use Alpari mt4 to double check) but desktop pro price still stuck at about 50pips away from the mt4 mkt price.

I called them on the live chat to ask if their demo was on a different price feed from their live feed and was told that they are the same! When I told them what happened and asked why, all I got in reply was "Sorry that...
Well, I'm a long time client of MB Trading and while I totally agree with you that MB trading's rollover periods seem excessive and run up time on sunday market open seems to be getting longer with increasing frequency, those issues aren't enough reason to switch brokers. I am talking about their LIVE servers. I don't depend on the demo servers for anything, they are not real and therefore useless to me(I understand they may have use to you).

I think you miss the point of a demo server. The point is for the broker to give you a copy of their software (and a trial data feed) to make sure it works with your system, etc. and that you are generally comfortable with the concept. The point of a demo is not to ensure that you will experience exactly what you will in live trading, or that your trading system will make money when you get out in "the real world."

You don't understand why/how the prices and execution MUST be different in the live and demo environments?

So their Desktop Demo data feed was different/delayed from the mt4 demo feed. Who cares? Another annoying thing about Demo accounts, what about when you've traded for several days and really are loving having your account balance be so great, can show all your friends, etc., and then ooops, reset. all gone. That's demo!

I guess it boils down to, if you need to trade market open on Sunday, don't use MB Trading. If you can't handle the fact that you will be completely unable to affect your positions with MB Trading in any way from approximately 4:55pm EST to as late as 6pm EST every trading day, then you don't want to trade live with MB Trading.

If you are looking for a broker who's data feed will never go out at a time that is bad for you(especially demo), then you'll have a hard time finding a broker, in my experience.

These 2 things(and a few minor issues with Desktop Pro) are the only 2 negative things I can say about my 4+ year client relationship with MB trading. I'm pretty happy with them as a broker, and now that they are paying me to trade(I use 80-90% limit orders), I'm liking them that much more. I place zero emphasis on the accuracy of their demo environments.
  • #6,742
  • Mar 9, 2011 2:37am Mar 9, 2011 2:37am
Quoting Gidyup
Got paid $240 so far in Limit orders, not a bad start. I think I might be liking this new pay for limit orders thing.
I've had days where up to %10 of my profit was from limits!
  • #6,743
  • Mar 9, 2011 2:47am Mar 9, 2011 2:47am
Quoting RealPips
These 2 things(and a few minor issues with Desktop Pro) are the only 2 negative things I can say about my 4+ year client relationship with MB trading. I'm pretty happy with them as a broker, and now that they are paying me to trade(I use 80-90% limit orders), I'm liking them that much more. I place zero emphasis on the accuracy of their demo environments.
Thanks for your feedback. I am looking for a broker with stable platform to trade from. So you sharing of your trading experience with MBT is much appreciated.

I'm just disappointed with their help desk which is of no help at all. From where I come from, these workers will be fired if they can't perform what they are suppose to do, but I guess I'm dealing with people in different work culture.
  • #6,744
  • Mar 9, 2011 3:22am Mar 9, 2011 3:22am
Quoting $$Trader
Thanks for your feedback. I am looking for a broker with stable platform to trade from. So you sharing of your trading experience with MBT is much appreciated.

I'm just disappointed with their help desk which is of no help at all. From where I come from, these workers will be fired if they can't perform what they are suppose to do, but I guess I'm dealing with people in different work culture.
Hmm, well you got people on the other end, so... To be honest, I've had one or two experiences with Technical Support(not customer service) when it was obvious that the guy had been working way too long(and very early in the morning). He was curt, but solved my problem.

Other than that, every contact that I have had with MB Trading has been positive. Fluent English speaking people that solve my issue.

Good luck finding a broker with a stable platform(as in stable like other commercial software). I haven't seen one at the retail level.

I am a short timeframe manual trader, so my needs are basic.

I'm currently running MultiCharts DT Alpha, and I really like it, but it is alpha and shows. The major drawback of this app, is that you can't have Desktop Pro running at the same time. I hope they fix this.

I bought a 3 month lease of NinjaTrader(after a demo), only to find out that it is not as impressive to me as everyone else seems to think. On top of that, it crashed on almost every every close. Fresh OS and app install... Wish they gave refunds on that.

I think Desktop Pro would be a real contender if they fix the rendering engine and add a real Chart Trader in addition to the order entry panel. These 2 things are what keeps me from making Desktop Pro my platform of choice.

I love the secondary and tertiary pairs function, NinjaTrader & Multicharts can't do this like Desktop does, nor can MT4.

Here are the main things I like about MB Trading.

1. When I click the button(or my limit is hit), if there is someone on the other end, the trade is executed. If it isn't, I can see why(nobody is getting filled or my order is too small) And I can't count the times I've been given "favorable" fills. Many at a price that never even printed.

2. Pay for limits!

3. If the platform goes down(and it does/will), there will be someone on the phone in a reasonable amount of time to help me open/close my trade. Every time(unless it's rollover).

4. When I submit a check request at the end of the week, I know it's coming(and it will be good!)

What don't I love about MB Trading?

1. No Chart Trader in Desktop Pro

2. Terrible rendering engine in Desktop Pro

3. They don't pay for market orders too! :-D
  • #6,745
  • Mar 9, 2011 4:08am Mar 9, 2011 4:08am
Quoting RealPips

3. If the platform goes down(and it does/will), there will be someone on the phone in a reasonable amount of time to help me open/close my trade. Every time(unless it's rollover).
No matter what broker you try there will ALWAYS be technical issues from time to time. If you look back through this thread you'll see the vast majority of problems come from MT4. Its an additional layer of technology that adds complexity to the system and that added complexity carries a greater chance of problems occurring. Even if this last issue was not MT4 specific, compared to Desktop accounts, if you look back, almost all the technology problems occur in MT4 accounts.

But you don't have to use MT4... IMHO you shouldn't... there are better software choices out there.

But the best piece of advice to take from RealPips' post is that telephone trading is always open to take your order, change your stop, go flat whatever you want. Keep the number handy, and if you find yourself on the wrong end of an inevitable technology glitch, adjust your positions the old fashioned way....call the tradedesk.
  • #6,746
  • Mar 9, 2011 6:13am Mar 9, 2011 6:13am
Quoting RealPips
I'm currently running MultiCharts DT Alpha, and I really like it, but it is alpha and shows. The major drawback of this app, is that you can't have Desktop Pro running at the same time. I hope they fix this.
To run Desktop Pro at the same time just ask for a second login account linked to your primary account.

https://www.mbtrading.com/forexMiscPaperwork.aspx here you can download the application form!

regards!
  • #6,747
  • Mar 9, 2011 6:31am Mar 9, 2011 6:31am
Hello, can you explain me something:

As I understand ECN broker means that all trades placed directly on the world marker.

So how broker can ECN brokers execute trades less than lot?

Sorry, if my question is incorrect.
You should fall, before you stand up!
  • #6,748
  • Mar 9, 2011 7:47am Mar 9, 2011 7:47am
Neveroff,

There is an amazing invention called "Search" and using this invention you can find all sorts of answers to all your questions about MBT and their agreements with LP. Use this invention and you will be spared these sorts of replies.

Respectfully yours.


Quoting Neveroff
Hello, can you explain me something:

As I understand ECN broker means that all trades placed directly on the world marker.

So how broker can ECN brokers execute trades less than lot?

Sorry, if my question is incorrect.
  • #6,749
  • Mar 9, 2011 8:54am Mar 9, 2011 8:54am
Quoting wwwin
+1 LOL, he sounds as if he works at MBT more than the actual rep does
-1. The negative posts on this thread are typically far more over the top than necessary, while the positive ones tend to also accept some of the issues that come up with MBT. No broker is perfect, so the discussions about what could be improved are useful and constructive. Posts about how a one hour issue once in six months is grounds for them being the worst broker in the world are nonsense. It seems like you guys call defensive anyone that is trying to have a constructive conversation rather than an abusive one.
  • #6,750
  • Mar 9, 2011 8:54am Mar 9, 2011 8:54am
Quoting RealPips
Well, I'm a long time client of MB Trading and while I totally agree with you that MB trading's rollover periods seem excessive and run up time on sunday market open seems to be getting longer with increasing frequency, those issues aren't enough reason to switch brokers. I am talking about their LIVE servers. I don't depend on the demo servers for anything, they are not real and therefore useless to me(I understand they may have use to you).

I think you miss the point of a demo server. The point is for the broker to give you a copy of their software...
Amen.
  • #6,751
  • Mar 9, 2011 8:55am Mar 9, 2011 8:55am
Quoting Crassius
No matter what broker you try there will ALWAYS be technical issues from time to time. If you look back through this thread you'll see the vast majority of problems come from MT4. Its an additional layer of technology that adds complexity to the system and that added complexity carries a greater chance of problems occurring. Even if this last issue was not MT4 specific, compared to Desktop accounts, if you look back, almost all the technology problems occur in MT4 accounts.

But you don't have to use MT4... IMHO you shouldn't... there are better...
Agreed, always keep the support/trade desk order by your side and you'll do fine. Don't just sit there and keep hitting the button waiting for it to fix itself!
  • #6,752
  • Mar 9, 2011 8:57am Mar 9, 2011 8:57am
Quoting Neveroff
Hello, can you explain me something:

As I understand ECN broker means that all trades placed directly on the world marker.

So how broker can ECN brokers execute trades less than lot?

Sorry, if my question is incorrect.
You have been misinformed. A broker that "all trades placed directly on the world marker" = STP broker.

ECN = a broker that offers an internal server where their customer orders can sit and be hit by other customers.

Either way, though, the global banks do accept orders under 1 lot and have for several years.
  • #6,753
  • Mar 9, 2011 10:53am Mar 9, 2011 10:53am
Quoting signorx
To run Desktop Pro at the same time just ask for a second login account linked to your primary account.

https://www.mbtrading.com/forexMiscPaperwork.aspx here you can download the application form!

regards!
Really, thanks for that tip signorx! I wonder how NinjaTrader gets around this?
  • #6,754
  • Mar 9, 2011 12:16pm Mar 9, 2011 12:16pm
Quoting RealPips
Really, thanks for that tip signorx! I wonder how NinjaTrader gets around this?
Here's a little info for anyone else interested in this. MB Trading charges $25 per month for each secondary username you request.
  • #6,755
  • Mar 9, 2011 12:58pm Mar 9, 2011 12:58pm
Quoting RealPips
Here's a little info for anyone else interested in this. MB Trading charges $25 per month for each secondary username you request.
No, that is not correct. Where did you come up with that information?
  • #6,756
  • Mar 9, 2011 5:01pm Mar 9, 2011 5:01pm
Quoting RealPips
Here's a little info for anyone else interested in this. MB Trading charges $25 per month for each secondary username you request.
For forex account it's free! 25$ fees apply only on stock/futures accounts!

regards
  • #6,757
  • Mar 9, 2011 5:22pm Mar 9, 2011 5:22pm
Quoting wannatradefx
-1. The negative posts on this thread are typically far more over the top than necessary, while the positive ones tend to also accept some of the issues that come up with MBT. No broker is perfect, so the discussions about what could be improved are useful and constructive. Posts about how a one hour issue once in six months is grounds for them being the worst broker in the world are nonsense. It seems like you guys call defensive anyone that is trying to have a constructive conversation rather than an abusive one.
-100 and may I ask who appointed you as the supreme judge to decide what is or is not over the top??? Cause if you don't have a trade or 2 open at the time you have no say so or stake in the matter.
  • #6,758
  • Mar 9, 2011 10:38pm Mar 9, 2011 10:38pm
Hi Justin,

Just another quick question.....

Does the Pay for Limit Orders structure apply to Euro denominated accounts, or is it confined to USD accounts only?

Many thanks

Kenny
  • #6,759
  • Mar 11, 2011 9:31am Mar 11, 2011 9:31am
Quoting bAASHARM
Does EFX allow fractional lots, e.g. would it be possible to open 1.43 mini lots?
I can comment on this as a user. The minimum tradeable lot size is 1K. You can open an order for 1430 no problem. You could not, however close half at TP1 and then the rest later, because the minimum trade size is 1K. If you are left with a position of less than 1K, you will need to call the trade desk to get it closed. The app can not do it.
  • #6,760
  • Mar 11, 2011 9:35am Mar 11, 2011 9:35am
Quoting signorx
For forex account it's free! 25$ fees apply only on stock/futures accounts!

regards
Here's the real deal. They were charging Forex customers for this as well(as stated in their downloaded documents. There was discussion about it on MBT Idea Exchange and Ross was not aware that people were being charged for extra logins. He has removed this policy sytem-wide as of yesterday.

Thanks Ross.
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