MB Trading Futures - Introduction

I heard you offer 6 bucks back for each lot, can you tell me more about this?

Did you look at the website? It isn't $6, it's $1.95 per 100,000 on Limit orders, but it is pretty detailed on the site.

Hello Justin

I have a few question regarding "pay for limits" :


1. I see on my account history tab in MT4 an order I opened with a market order and closed with take profit (live), and the commission is positive. how is this possible? shouldn't be around -0.1 pips ?

2. This new model represents a problem for learning algorithms and any kind of optimization on past data since part of the quotes are can only be filled for very small sizes. It makes MB history data unreliable. is there anyway to get history of only meaningful quotes(of a certain size, say 100K at least)?

3. if I make a limit order and get filled by the banks, MB trading has lost the rebate and received no commission? isn't your business model based on commission? If you can clarify Ill be grateful.

how come every time i try to open a position on eur/nzd i get an 'off qoutes' error message? i am on demo..

Justin,

How exactly is the NAV time sync'd? And shouldn't different feeds have the same time and value?
Edit: I should have clarified that with the different time zones, 15:02 would be the same as 09:02, I'm 6 hours ahead of NY.

Justin,

Now compare these that were taken over the space of the last 15 minutes, what's really interesting is comparing volume.
T&S is Optimus and L2 is MBT.

JoePass,

1)In Meta, a positive commission is a payment to you and a negative commission is a charge. If you bought at market, the commission column should show a negative number. If you closed with a Limit, that will get you a credit. Closing commissions are credited in real-time to your actual account at the Desktop level, but they don’t show up in Meta until 5 pm EST rollover based on how Meta works.

2)Not sure what this means. Although we now pay for Limit orders, we have always displayed customer Limit orders in our quotes from the ECN, and some of those can be small orders. We’ve been doing this for years and it makes that part of the market.

3)Correct, we are paying people to add liquidity to our system for other traders. The other side of the trade is someone paying a commission to take your liquidity off the ECN.

I'll take a look and see if I can replicate and get back to you.

Justin,

And now that volume and volatility have dropped off, the times, volumes and prices coincide:

Hey Justin, with regard to Joe Pass's question #3, I've been thinking about the same question, and I don't think you really answered it. Let me clarify:

Say the Euro is currently 1.4832 bid / 1.4833 ask. I place a limit order to buy at 31.

The market moves down. Let's say Bank of Slobovia now has the inside ask, they've moved their ask down to 30.8 (with quantity far greater than my measly limit order). For the sake of this example, let's also say that, at this moment, there are no customer market or marketable limit sell orders that could hit my 31 buy limit.

So what happens? I see two basic possibilities:

1) Your system now sends my buy order to B of S, who fills it. Since my order was a resting limit, I get paid the $1.95. Since B of S is a bank, even though their ask was technically a marketable limit, I doubt that your agreement with them allows you to charge them a $2.95 commission in this case! More likely I suspect that you have to still pay them whatever you usually pay them for filling the order. So, it sure seems to me that MBT is paying on both sides of this trade, to both me and the bank.

2) Your system does *not* send my buy order to B of S, but rather holds it until some non-bank customer hits it with either a market or a marketable limit order. In this case, MBT makes $1 on the trade, as usual, once it finally fills, if it finally fills. If this is the case, this means that there is an unspoken cost to my choice of a limit order - I make $1.95 if the order fills, but I'm playing in a smaller liquidity pool (MBT customers only) then I would be playing in with a marketable order (MBT customers + banks).

So the question boils down to: if I trade by a limit order, can I ever be filled by a bank? Or can such orders *only* be filled by other MBT customers?

(And if the answer is that a customer limit order *can* be filled by a bank, that's good news for me, but I can't help but wonder how that is a viable business strategy for MBT ?)

I'd really like to understand this, it clearly has some implications for trading strategy.
__________
Look Deeper

Hey Justin

Thanks for the reply.
one more question - say I have two live accounts and I'm in two opposite positions of the same size in both of them - (EURUSD long, and EURUSD short). Is it possible to close both positions without paying commission?

Thanks

The correct answer is number 1. In the case that you had a limit and then a bank moves down to your price, your order is sent to the bank and you still get paid.

seeking beta testers

[email protected]

what is the requirement to be a beta tester?

all you have to do is email [email protected]

ok, done.

Does anyone know if there is a way to set two different orders, wherein the activation of one results in the cancellation of the other?

For instance, if I want to set a limit order for USD/CHF and a similar limit order for AUD/USD ... but I only want ONE to trigger (so the first one to trigger results in the other being cancelled).

Right now, it seems I can only set two separate orders and risk BOTH being possibly triggered while I am away. It seems something like this should have been implemented ...

Thanks!

Any news on this? Who provides your data? Do you use different feeds?

Why is it that lately if you look at the price on m1 you can see it gaping up to 6 pips all over the place. There is always big slippage on market orders also. I haven't seen this in the past.

Any news about this?