Is MBT really an ECN ? | Page 6 | Forex Factory

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Is MBT really an ECN ?

  • #101
  • Mar 18, 2011 12:12am Mar 18, 2011 12:12am
I used to believe in this.
  • #102
  • Mar 18, 2011 7:02am Mar 18, 2011 7:02am
How can u recognize a real ECN:

1. Level 2 pricing (full market depth)
2. Non-fixed spreads
3. They charge a fixed sum for transaction
4. They wouldn't use MT4
5. They wouldn't give out bonuses
6. They are interested in traders long trading life
7. Sh**load of liquidity
8. Complete anonymity
  • #103
  • Mar 18, 2011 7:10am Mar 18, 2011 7:10am
Quoting Rader
How can u recognize a real ECN:

1. Level 2 pricing (full market depth)
2. Non-fixed spreads
3. They charge a fixed sum for transaction
4. They wouldn't use MT4
5. They wouldn't give out bonuses
6. They are interested in traders long trading life
7. Sh**load of liquidity
8. Complete anonymity
MB Trading uses MT4 and they are an ECN. And I am not sure what you qualify as "giving out bonuses" but paying for liquidity (e.g. paying traders for executed limit orders) is fine with ECN. Direct access stock brokers do this all the time.
Make your losses in demo. Earn your profits live.
  • #104
  • Mar 18, 2011 7:12am Mar 18, 2011 7:12am
Quoting Rader
How can u recognize a real ECN:

1. Level 2 pricing (full market depth)
2. Non-fixed spreads
3. They charge a fixed sum for transaction
4. They wouldn't use MT4
5. They wouldn't give out bonuses
6. They are interested in traders long trading life
7. Sh**load of liquidity
8. Complete anonymity
I would agree with 1, 2, 3, 6, and 8.

If a broker is a pure ECN, then 7 would not be true by default as they can't have enough customer limit orders to fit the needs of their market orders.

4 is not correct even though people should not want to use MT4.

5 is definitely not correct if an ECN is trying to add the levels of liquidity that you want in 7.
FXChant Singing the World of Forex
  • #105
  • Mar 18, 2011 8:50am Mar 18, 2011 8:50am
Quoting Rader
How can u recognize a real ECN:

4. They wouldn't use MT4
5. They wouldn't give out bonuses
6. They are interested in traders long trading life
7. Sh**load of liquidity
Nonsense.
  • #106
  • Mar 19, 2011 12:47am Mar 19, 2011 12:47am
Hello I'm new to this Forum so I'm not sure if this is the appropriate Thread for my question. So my apologies in advance if I've posted in the incorrect place.

My questions is as follows:
1. I am not in the U.S, I live in Sydney, Australian and I am interested in signing up with MBT I'm curious what other people's experience has been with MBT in-terms of execution, deposits/Withdrawals and customer service. I would welcome response from overseas and current U.S clients

2. I mainly scalp Forex aiming for no more than 10pips a day and I understand MBT is ok with this trading methodology. I am planning to use Ninja trader since MBT is a supported broker. Does anyone have any experience in using Ninja Trader with MBT?

Thank you for all those who will respond to this post. I greatly appreciate your answers.
  • #107
  • Mar 19, 2011 11:50am Mar 19, 2011 11:50am
Quoting Rader
How can u recognize a real ECN:

1. Level 2 pricing (full market depth)
2. Non-fixed spreads
3. They charge a fixed sum for transaction
4. They wouldn't use MT4
5. They wouldn't give out bonuses
6. They are interested in traders long trading life
7. Sh**load of liquidity
8. Complete anonymity
I agree in most of what you wrote,
I think people just don't have a clue what a ECN is,
there is just to much crap floating around on the net giving wrong info,
ECNs are not at all the most favorable type of connection for traders,
ofcource the yare 100% better than all the bucketshops out there,
ECN is kind of a internal network where all the brokers customers buy and sell internally,
so they are actually not trading on the real market as so many think they are,
so it can't exactly be a sh**load of liquidity within the ECN,
this explains why MBT normally have low liquidity, because they are ECN,
if your broker have huge liquidity, they can't be a real ECN,
then they probably are something other, STP? bucketshop? or DMA hopefully,
the liquidity come from the banks where your broker has access to, you dont,
you are just trading inside the ECN with the rest of the brokers clients,
the brokers markup the spreads before shipping the deal to their ECN via a black box, this is done automaticly,
then the buyers and sellers inside the ecn take over and negotiate the price ,
if there would be a level 2 feature in the software, i, will just be showing
whats going on within the ecn, not on the real market
there are no ECNs that allow direct trading with the banks, they have to be pure DMA for that,
ECNs is really simular to a MM in a way that they create the market for you to trade on within the ECN, and they don't trade against you,
the fact that the brokers markup the spread is proof that you don't trade on the real market,
since they have the ability to buy a lot cheaper
and sell expensive and still be cheap by adding a few pips to the spread
and by that Im not saying that ECNs are bad,
they are good! but still not the best
Bulls are stupid Animals!especially when Im short!
  • #108
  • Mar 19, 2011 12:09pm Mar 19, 2011 12:09pm
Quoting Azli1
I'm curious what other people's experience has been with MBT in-terms of execution, deposits/Withdrawals and customer service. I would welcome response from overseas and current U.S clients
Non-US client here.

Execution is good, deposits/Withdrawals work as expected, customer service is one of the best so far.

Quoting Azli1
I am planning to use Ninja trader since MBT is a supported broker. Does anyone have any experience in using Ninja Trader with MBT?
I have used NT in the past but not with MBT. You'll probably find some NT/MBT users in the NT forums.

Good luck
  • #109
  • Mar 19, 2011 4:55pm Mar 19, 2011 4:55pm
Quoting roughtrader
you are absolutely right,
DMA is what we all should strive for,
I want to get filled in milliseconds and trade directly with the banks
integral would be nice!
so far no luck finding a broker like that
a simular would be hotspot, but just for insitutional clients
do you have any sugestions?
There are some.
Here one: http://www.advancedmarketsfx.com/
You can also ask Integral for partner brokers.
  • #110
  • Last Post: Mar 22, 2011 1:47am Mar 22, 2011 1:47am
I've been in fx markets for 6 years. Used MBT for a while. No doubt, MBT is a real ECN.
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