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MB Trading Futures - Introduction

  • #7,741
  • Jul 19, 2011 10:56am Jul 19, 2011 10:56am
Just saw this in the MT4 alert feed:

"FX Trading is temporarily halted due to a system problem. We are working on the issue and should have it resolved shortly. We apologize for the inconvenience."

This is pretty inexcusable...
  • #7,742
  • Jul 19, 2011 11:22am Jul 19, 2011 11:22am
Lol,

I can't close my position.
My Closing Market order was sitting as Pending in Open Orders for 5 minutes.
I Clicked "Cancel".
It sat as Cancel for N minutes.
Noting happened.
Trying again Close. Nope.
Initiated a chat.
Have been told to make an oversea call to close my position (?!?!)
Now I see a message "FX currently suspended due to system issue".
Ten minutes passed already.
Meanwhile, my position probably will go in negative territoy.
Thanks God I am just testing with max 2-3k positions.
17 minutes.
Almost 30 mintes later (trading has been suspended), trading resumed, stuck order cleared.
I'll try to close my position now. Wish me luck :-)
Well, I missed a good closing point, but hey, we are not trading for money, right? :-)


Joke.


Here is the chat transcript:

18:52Plamen Petkov: Hi
18:52Jamie OCampo: Please call the trade desk to place any trades
18:52Plamen Petkov: Accnt E2954437
18:52Jamie OCampo: 866-628-3002
18:52Plamen Petkov: call ?
18:52Plamen Petkov: I am in europe ffs ?
18:52Jamie OCampo: yes please
18:52Plamen Petkov: omg
18:53Jamie OCampo: 310.414.4553
18:53Jamie OCampo: we cannot take trades via chat
18:54Plamen Petkov: I am reporting an issue.. I am not asking you to close my position.. i.e. to take trade...
18:54Jamie OCampo: ok
18:54Jamie OCampo: we are aware of the issue
18:54Plamen Petkov: I am asking what to do on my side .. apart from making an oversea call !!
18:54Jamie OCampo: and it's being worked on by our OPS dept.
18:55Plamen Petkov: huh.... and my position gonna sit open then...
18:55Plamen Petkov: nice one
18:56Jamie OCampo: if you cannot data and you would like to close the position
18:56Jamie OCampo: you will need to call
18:57Jamie OCampo: unfortunately there is nothing you can do from your side to correct the issue
18:57Plamen Petkov: 001-310-414-4553, that's the phone number ?
18:57Plamen Petkov: And you realize it is a oversea call ?
18:57Jamie OCampo: when I have called internationally I just directly dialed 1 310 414 5443
18:58Jamie OCampo: I do
18:58Plamen Petkov: yes, 00 prefix is from my side. Ok, thank you very much. Have a nice day.


Attached a screenshot, just before the chat started.

Edit: removed the screen shot. CBA to look which info to hide (account numbers, etc.)

Plamen
Bah...
  • #7,743
  • Jul 19, 2011 11:28am Jul 19, 2011 11:28am
Quoting plamendp
Lol,

I can't close my position.
My Closing Market order was sitting as Pending in Open Orders for 5 minutes.
I Clicked "Cancel".
It sat as Cancel for N minutes.
Noting happened.
Trying again Close. Nope.
Initiated a chat.
Have been told to make an oversea call to close my position (?!?!)
Now I see a message "FX currently suspended due to system issue".
Ten minutes passed already.
Meanwhile, my position probably will go in negative territoy.
Thanks God I am just testing with max 2-3k positions.
17 minutes.
Almost 30 mintes...
Yes, it has been covered on these boards before that for security purposes, they can't work on orders for you via Chat. Too many ways for someone to pretend to be you easily and place trades that you don't want. You have to call the Trade Desk. Either way, looks like issue is resolved already, I am able to trade.
  • #7,744
  • Jul 19, 2011 11:42am Jul 19, 2011 11:42am
Quoting IndyTrader
Yes, it has been covered on these boards before that for security purposes, they can't work on orders for you via Chat. Too many ways for someone to pretend to be you easily and place trades that you don't want. You have to call the Trade Desk. Either way, looks like issue is resolved already, I am able to trade.
That wasn't the main point of my post, but whatever.

Plamen.
Bah...
  • #7,745
  • Jul 19, 2011 11:45am Jul 19, 2011 11:45am
omg, will they honour the SL/TP as O does when their platform failed?
  • #7,746
  • Jul 19, 2011 12:32pm Jul 19, 2011 12:32pm
The daily amount paidout suddenly surged in May 2011 but then it dropped back to normal 1-4k range. I believe someone or group took a huge advantage by earning commission but why suddenly they disappear after a month? Are they being kicked? or they gave up after realized that there is a catch? or I am thinking too much?

Anyone ever think of this unusual phenomena?
Attached Image
  • #7,747
  • Jul 19, 2011 12:37pm Jul 19, 2011 12:37pm
Quoting ForexQuant
The daily amount paidout suddenly surged in May 2011 but then it dropped back to normal 1-4k range. I believe someone or group took a huge advantage by earning commission but why suddenly they disappear after a month? Are they being kicked or I am thinking too much?

Anyone ever think of this unusual phenomena?
What is this?

Btw, I am unable to login Desktop Pro. Anyone else?

Plamen
Bah...
  • #7,748
  • Jul 19, 2011 12:40pm Jul 19, 2011 12:40pm
Quoting plamendp
What is this?

Btw, I am unable to login Desktop Pro. Anyone else?

Plamen
I got that chart from their website. It is the daily amount paid for limit orders.
  • #7,749
  • Jul 19, 2011 1:26pm Jul 19, 2011 1:26pm
Quoting ForexQuant
The daily amount paidout suddenly surged in May 2011 but then it dropped back to normal 1-4k range. I believe someone or group took a huge advantage by earning commission but why suddenly they disappear after a month? Are they being kicked? or they gave up after realized that there is a catch? or I am thinking too much?

Anyone ever think of this unusual phenomena?
Maybe there were just more FX volumes in May. Or maybe there was someone like you said and they blew up because they were trying to trade only with Limit orders and that can't work. Could be anything.
  • #7,750
  • Jul 19, 2011 4:58pm Jul 19, 2011 4:58pm
Quoting IndyTrader
Desktop or MT4? Both fine here for me.
MT4.....and it is still down. Connection status reads "NO CONNECTION". Internet is functioning fine....but I am dead in the water with MBT. If I am the only one.....fair enough. Just curious if that was the case.
  • #7,751
  • Jul 19, 2011 7:39pm Jul 19, 2011 7:39pm
This is the same problem I was having with their Demo account. That is why I will not open a live account with them. If they do not care enough to maintain their demo account, god only knows what they do with live account software.
  • #7,752
  • Jul 19, 2011 9:06pm Jul 19, 2011 9:06pm
Quoting ForexQuant
omg, will they honour the SL/TP as O does when their platform failed?
No. In this case, their connection to the banks failed and ALL FX TRADING was halted. This includes stops, targets everything.

Quote
FX Trading is temporarily halted due to a system problem. We are working on the issue and should have it resolved shortly. We apologize for the inconvenience.

Best Regards,

MB Trading Futures, Inc.

Their response when I replied to the alert:

Quote
Right now, we are experiencing an execution issue with the banks. Nothing is going to execute while we are down. They are working with the banks to resolve quickly.

A few minutes later got this

Quote
We will send an additional message via both Desktop/Pro message and MetaTrader mail once the issue is resolved. In the meantime, please note that attempts to enter, place, or cancel trades could create deeper complications. We are working to resolve the issue quickly.

Best Regards,

MB Trading Futures, Inc.

When all was said and done, the execution I got was 10 pips below my stop.
  • #7,753
  • Jul 19, 2011 9:36pm Jul 19, 2011 9:36pm
Thats bogus, they should honor your stop...
  • #7,754
  • Edited 10:48pm Jul 19, 2011 10:27pm | Edited 10:48pm
just so you know, be careful during high volatile periods..

i had a position into Nonfarm payroll data this month. to protect my position i put a stop loss 20 pips away

the size was about 1M but only 50k was executed. not to mention i couldn't place or cancel any orders when the data came out.

result? i lost 10k when i manually closed my position minutes later when market had already moved miles away.

i also had positions with Interactive Brokers and i had no problem through the data.

closed my account immediately after that
  • #7,755
  • Jul 20, 2011 1:19am Jul 20, 2011 1:19am
Quoting richy
just so you know, be careful during high volatile periods..

i had a position into Nonfarm payroll data this month. to protect my position i put a stop loss 20 pips away

the size was about 1M but only 50k was executed. not to mention i couldn't place or cancel any orders when the data came out.

result? i lost 10k when i manually closed my position minutes later when market had already moved miles away.

i also had positions with Interactive Brokers and i had no problem through the data.

closed my account immediately after that
As good it may seem,i think MBT is showing us the retail traders some signs of "Dont Care" attitude,NO? alot of problems had surfaced recently and it seem that Justin fr MBT is totally ignoring our problems,or matter of fact even MBT's support team! I have lost confidence in them already,now is if i can find another REAL ECN-based platform,then BYE BYE MBT! I am not gonna keep telling them my problems with my Both LIVE MT4 & Desktop Pro acct & in e end its still NOT solved! Really a shame that i need to come to this outcome,i really like MBT but MBT ISNT what its used to be!

  • #7,756
  • Jul 20, 2011 2:57am Jul 20, 2011 2:57am
I gave up already. I feel good with my decision. I hope I'll be able to withdraw my funds without a pain. Wish me luck :-)


Plamen
Bah...
  • #7,757
  • Jul 20, 2011 3:20am Jul 20, 2011 3:20am
I am sorry to hear about all of the problems that you have experienced. It is baffling to me because out of 3+ years with them I can only say my experiences have exceeded all my expectations.

I have traded stocks for 25 years. That was back when the telephone was basically your platform.

Traded Dow futures for a couple of years with who many regard as one of the best around.

So the bar was set high to begin with and MBT has cleared it on all levels in my case.

You will be able to withdraw your funds without any hassle. I can say this with the utmost of confidence.

Every withdrawal I have made from my account over the years is in my bank the same day, just make sure to get the wire transfer in on time. 11:00 AM Pacific time??????

Again, sorry to hear about the problems that you experienced but I have to say they have served me very well for over three years and I would recommend them to anybody in a heartbeat.

Good luck to you.
  • #7,758
  • Jul 20, 2011 3:30am Jul 20, 2011 3:30am
Quoting Astroman
I am sorry to hear about all of the problems that you have experienced. It is baffling to me because out of 3+ years with them I can only say my experiences have exceeded all my expectations.

I have traded stocks for 25 years. That was back when the telephone was basically your platform.

Traded Dow futures for a couple of years with who many regard as one of the best around.

So the bar was set high to begin with and MBT has cleared it on all levels in my case.

You will be able to withdraw your funds without any hassle. I can say this...
Since you are with MBT for so many years, any advise for a new comer? Any what's to do/not to do? I just submitted my application form today.

But I must admit that the recent incident sounds scary. I hope this is an isolated case.
  • #7,759
  • Jul 20, 2011 3:41am Jul 20, 2011 3:41am
Quoting IndyTrader
Incorrect in Live. I get hit on the bid all of the time.
You should be a press agent of MBT... Why you think we have an ask price?
  • #7,760
  • Jul 20, 2011 3:45am Jul 20, 2011 3:45am
Quoting Milan
You should be a press agent of MBT... Why you think we have an ask price?
It may not 100% to get hit on bid, but it is possible. Dont let MM brainwash you!
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