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MB Trading Futures - Introduction

  • #8,041
  • Sep 5, 2011 3:48pm Sep 5, 2011 3:48pm
Sir Justin,
MBT UK has recently expressed acceptance (via email) of clients from my country, the Philippines.
will MBT US follow suit & remove restrictions too?
any plans to have an MBT Asia branch?
thanks! thanks MBT UK!
  • #8,042
  • Sep 6, 2011 2:33am Sep 6, 2011 2:33am
Quoting PoundTrader
He doesn't want obvious answers, he just wants to roll on his side and laugh.
  • #8,043
  • Sep 6, 2011 2:38am Sep 6, 2011 2:38am
Quoting IndyTrader
He doesn't want obvious answers, he just wants to roll on his side and laugh.
let it go.
  • #8,044
  • Edited 4:06am Sep 6, 2011 3:18am | Edited 4:06am
I don't know if this is normal or what but that fast moving e/u from 41 to 4280
i was had sell limit @42 and PA goes higher and order not hit later it executed
also i enter manually but it take about 50 second maybe 1 min to executed!!
BTW
Other broker i use show the high 42544 not 4280!!
  • #8,045
  • Sep 6, 2011 4:06am Sep 6, 2011 4:06am
Quoting egkid
I don't know if this is normal or what but that fast moving e/u from 41 to 4280
i was had sell limit @42 and PA goes higher and order not hit later it executed
also i enter manually but it take about 50 second maybe 1 min to executed!!
Swiss bank intervention essentially pegging the Swissy to the Euro. Not a normal market by any means. Your execution sounds completely normal given the market conditions.
  • #8,046
  • Sep 6, 2011 4:10am Sep 6, 2011 4:10am
Quoting Crassius
Swiss bank intervention essentially pegging the Swissy to the Euro. Not a normal market by any means. Your execution sounds completely normal given the market conditions.
I know MBT better than many other brokers but not use to find such issue with MBT maybe because Up normal move
How high the move 4280 or 4254 with e/u?
  • #8,047
  • Sep 6, 2011 8:42am Sep 6, 2011 8:42am
Quoting egkid
I know MBT..
How high the move 4280 or 4254 with e/u?
hello eg brother,
1.4280+ highs
  • #8,048
  • Sep 6, 2011 9:18am Sep 6, 2011 9:18am
Quoting supremeChaos
hello eg brother,
1.4280+ highs
That will give point to MBT other broker which consider one of best data feed i use show 4255
How r u doing bro?Hope all fine
  • #8,049
  • Sep 6, 2011 6:43pm Sep 6, 2011 6:43pm
Here is my correspondence with MBT

I was using Metatrader4 for execution. MBT substantiated a no fill and used their platform which showed a 5min chart, although Ahmed(from MBT) said it was a 1 Min chart. It took MBT over 10 hours to get back to me.


They stated no technical issues!

The interesting fact is my live Oanda account filled with the same trade! MBT ECN ----is it better?



What do you think?



From: xxxxxxxx
Sent: Tuesday, September 06, 2011 3:41 AM
To: [email protected]
Subject: Order did not fill
Open order did not fill at price
accnt xxxxxxx
order #xxxxxxxxx gbp/usd 2011/09.04 buy 2.00 1.61657 T/P 1.61940
1 hour candle shows high at 1.62050 a difference of 11 Pips
T/P PRICE DID NOT FILL ---Still it is an open order PLEASE ATTEND TO THIS IMMEDIATELY

I had the same order with Oanda and it filled
Please contact me .....this is not right....your help desk was of no help .....they told me to email you
__________________________________________________

Dear Mr.,xxxxxxxx
Thank you for your inquiry. After careful review of your account activity with the Trade Desk Manager the following was stated.
You have decided to manage the order at the time of your inquiry as per our conversation. The order in question (Dealxxxxxx) had no technical issues involved. Please see the snap shot of the 1 minute GBP/USD chart posted in EDT below. According to the chart at 4:02 AM EDT there was an upward spike in prices. At 4:02 AM EDT the high was 1.62078 and the low was 1.6112. During volatile quotes environment, price gaps or fast moving market conditions, as your order is triggered and sent to the market in fractions of a second, the quotes are changing even quicker, and therefore the order must be re-sent as it is being missed. In addition to the changing quotes, sometimes banks may reject an order depending upon the size and lack of liquidity, in which case also, the order must be re-sent. As stated in our website limit order can possibly not be executed because the market price may quickly surpass your limit before your order can be filled (http://www.mbtrading.com/ordertypes.aspx). As a trader, your options are to avoid these environments, or to proceed with caution knowing the possibilities and factor them into your strategy. Also please keep in mind that every broker has their own set of destinations and banks that they work with to provide their clients with quotes and liquidity. It is likely that two different brokers may have different quotes for the same pair at the same time.
Please refer to the following two sites regarding information on MB Trading and executions:
1)http://www.mbtrading.com/forexFAQ.aspx
2)http://www.mbtrading.com/forexExecution.aspx


If you have any questions, please call the trade desk at 1-866-628-3002.
Best Regards,
Max Ahmed
Registered Representative
MB Trading: FINRA/SIPC Member
MB Trading Futures, Inc.: NFA Member
1926 E. Maple Avenue
El Segundo, CA. 90245
www.mbtrading.com

(866) 628-3001 - Customer Service
(866) 628-3002 - Equities Trade Desk
(866) 628-3003 - Futures Trade Desk
(310) 647-4281 - International
(310) 416-1420 - Fax

IMPORTANT NOTICE

Securities products are offered through Manhattan Beach Trading Financial Services, Inc. ("MBTFS"), member FINRA, SIPC. MB Trading Futures, Inc. (MBTF) is a CFTC registered RFED and member of NFA. MBTF offers execution and settlement services for futures based products and off-exchange foreign currency (forex) products. Trading in futures, options and forex is speculative in nature and not appropriate for all investors. Investors should only use risk capital when trading futures, options and forex because there is always the risk of substantial loss. MBTFS and MBTF are sometimes referred to collectively herein as "MB Trading." Account access, trade executions and system response may be adversely affected by market conditions, quote delays, system performance and other factors.

This electronic mail message and any attached files contain information intended for the exclusive use of the individual or entity to which it is addressed and may contain information that is proprietary, privileged, confidential and/or exempt from disclosure under applicable law. If you are not the intended recipient, you are hereby notified that any viewing, copying, disclosure or distribution of this information may be subject to legal restriction or sanction. Please notify us by replying to this electronic mail or telephone and delete the original message without making any copies.
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  • #8,050
  • Edited 11:43pm Sep 6, 2011 11:23pm | Edited 11:43pm
So... you used two different brokers who execute orders completely differently...ECN versus bucket-shop.

Quoting Atc
MBT ECN ----is it better? What do you think?
Yes, MBT is better.
You can 'beat' the spread, buy on the bid, sell on the offer.
-AND-
You can get 'paid' for using limit orders for execution.

Current spread GPB/USD 2.3 pips (Oanda)
Current spread GBP/USD 1.7 pips (MBT)

You were trading some of the most volatile 1 minute candles of the last 9 months... with MT4.

You were not robbed or cheated.

My favorite part-
Quoting Atc
I had the same order with Oanda and it filled .....this is not right....


You need to read their reply again, specifically...

During volatile quotes environment, price gaps or fast moving market conditions, as your order is triggered and sent to the market in fractions of a second, the quotes are changing even quicker, and therefore the order must be re-sent as it is being missed....
Also please keep in mind that every broker has their own set of destinations and banks that they work with to provide their clients with quotes and liquidity. It is likely that two different brokers may have different quotes for the same pair at the same time.

That is what I think.
  • #8,051
  • Sep 7, 2011 1:29am Sep 7, 2011 1:29am
Recently I wrote,

"Many happy customers have no reason to post here. Since MB offered Metatrader, the experience level of their client pool has gone down as its a free platform, and usually the first one a new FX trader encounters. Much of what gets posted here these days is directly related to inexperience."

Atc writes,

" was using Metatrader4 for execution. MBT substantiated a no fill and used their platform which showed a 5min chart, although Ahmed(from MBT) said it was a 1 Min chart. It took MBT over 10 hours to get back to me.


They stated no technical issues!

The interesting fact is my live Oanda account filled with the same trade! MBT ECN ----is it better?"

To which I reply,

1. Your comments seem to indicate that you don't even realize that FX has no central exchange. The fact that you got filled on one order type in one liquidity pool, and didn't get your limit order filled in a completely different liquidity pool means absolutely nothing. If you had any clue what you are doing you would not have even mentioned it.

2. You obviously haven't bothered to educate yourself as to the different order types and their respective parameters. How can you be the least bit surprised that a limit order did not get a fill in the middle of a central bank intervention in the markets?

3. Instead of trying to educate yourself as a result of this experience you instantly jump to the conclusion that MB has cheated you or suffers some unadmitted technical issues.

Tar recently wrote,

"Is that the same reason we see alot of negative reviews on this thread as well ?!"

All to often the reason you see negative reviews like Atc's is that $400 and a free platform like Metatrader is such a low bar to entry that many many people that write negative reviews are bitching about self inflicted or nonexistant issues responsibility for which lies squarely with the trader and not the broker. The complainers lack the experience and/or the knowledge to place blaim where it belongs.
  • #8,052
  • Sep 7, 2011 2:01am Sep 7, 2011 2:01am
Quoting Crassius
Recently I wrote,

"Many happy customers have no reason to post here. Since MB offered Metatrader, the experience level of their client pool has gone down as its a free platform, and usually the first one a new FX trader encounters. Much of what gets posted here these days is directly related to inexperience."

Atc writes,

"[b] was using Metatrader4 for execution. MBT substantiated a no fill and used their platform which showed a 5min chart, although Ahmed(from MBT) said it was a 1 Min chart. It took MBT over 10 hours to get back to...
Quit speaking the truth, these people will never understand.
  • #8,053
  • Sep 7, 2011 3:11am Sep 7, 2011 3:11am
Quoting IndyTrader
Quit speaking the truth, these people will never understand.
Yeah, you "cheerleader" you!
  • #8,054
  • Sep 7, 2011 6:47am Sep 7, 2011 6:47am
1. Your comments seem to indicate that you don't even realize that FX has no central exchange. The fact that you got filled on one order type in one liquidity pool, and didn't get your limit order filled in a completely different liquidity pool means absolutely nothing. If you had any clue what you are doing you would not have even mentioned it.

2. You obviously haven't bothered to educate yourself as to the different order types and their respective parameters. How can you be the least bit surprised that a limit order did not get a fill in the middle of a central bank intervention in the markets?

3. Instead of trying to educate yourself as a result of this experience you instantly jump to the conclusion that MB has cheated you or suffers some unadmitted technical issues.

__________________________________________________
I fully understand that currencies are unregulated and have read the disclosure statements for currencies. And as for my background, I have been trading markets, i.e. stocks, futures, and options, since 1983.


I believe you misunderstood my point(s) or questions.

Does MB have liquidity issues and/or is their ECN is not necessarily better than a bucket shop?

Is the metatrader platform with MB is inaccurate, since MB substantiated that price never hit the T/P by using another platform?
  • #8,055
  • Sep 7, 2011 10:42am Sep 7, 2011 10:42am
I really am trying to help... even though I imagine you are 'stinging' from a large loss
because you held a purchase that you thought deserved a 'sell execution' during a crazy, volatile time.

(note: I've traded daily with Oanda for over a year... previously.)

You got lucky that Oanda or its liquidity providers didn't disconnect completely during this time.
You happened to get a fill on Oanda, lucky.

Does MB Trading have liquidity issues?
No, but I wish there were more 'bad' traders so that I could get my fills easier.

Is it better than a "bucket shop"?
Yes, see my previous post.

There was no one to Buy your GBP/USD at your price when your orders were being sent
to the marketplace on the MBT ECN.

I fight for 1/10's of a pip on the Navigator Pro platform (MBT Trading),
I actively change my limits for fractions of a pip often multiple times, in less than 1 minute.

There is not always currency available at each and every 1/10th of a pip.
One of the main liquidity providers changes his quote quickly (algorithmically),
but on average his spread is .9 pips and he makes a market for 20 lots each side.

I recommend anyone who has never peeked at Nav Pro's level 2 market depth.... to take a look.
Alot can happen within a 1.0 pip range.

After that, load MultiCharts DOM (free trial partner program of MBT) and watch the quote changes
of the major liquidity providers... they bounce all around quickly (even in a normal market).

Things I've learned:

1. Price ( on MBT's ECN) can jump 'levels' in low liquidity. There is not currency at every 1/10 of a pip.
Currency can trade at your limit price, you may not get filled (because you are not first "in-line"),
and the quote may change in a fraction of a second...hence it traded at your price and you never got filled.

2. MT4 is ancient and slow (for any broker). If you intend to scalp fast markets, I suggest using MB's Nav Pro. (but it takes practice/experience).

If you must use Oanda (and pay their spread), I would use their FXTrade instead.
  • #8,056
  • Sep 7, 2011 7:31pm Sep 7, 2011 7:31pm
Quoting Atc
Here is my correspondence with MBT

I was using Metatrader4 for execution. MBT substantiated a no fill and used their platform which showed a 5min chart, although Ahmed(from MBT) said it was a 1 Min chart. It took MBT over 10 hours to get back to me.


They stated no technical issues!

[b][size=2][font=Tahoma, sans-serif]The interesting fact is my live Oanda account filled with the...
They NEVER have technical issues...it is ALWAYS "MetaQuotes's fault"..."they pushed an upgrade on us"...."it is not our platform, we cannot code it"....bla bla BLA
  • #8,057
  • Sep 7, 2011 7:32pm Sep 7, 2011 7:32pm
Quoting FXSurfer
Yeah, you "cheerleader" you!
Give me an M...give me a B...
  • #8,058
  • Sep 8, 2011 3:29am Sep 8, 2011 3:29am
Quoting jleblang
Grimreaper-

Yes. Those spikes are from 3 years ago. Back then, our quote server had an glitch on some of thin pairs that would result in a bad price spike passed to the chart at 17:00 (rollover/shutdown). This was purely bad chart data and 100% never related to triggering any orders (execution was off for rollover anyway). When you see a spike that big, it is just bad data. Also, I would HIGHLY recommend that you not post screenshots that include your account number in the header. BTW - the account number in the screenshot indicates that this...
True, the spikes I showed were 3 years ago, but I see spikes 3 days ago at 17:00est (rollover period) on 9/5 on AUD/CAD. Regardless if trades are executed based on that spike, it distorts the daily chart.

Also, I've seen more spike issues with tick charts, regardless if it's my demo or my live account. Attached is an example from GBP.

Also, if I have a ray that goes back a long time, often times that ray is misplaced on lower time frames, such as 15min. All these charting issues make me want to go back to futures

Any word on the new commission?
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  • #8,059
  • Sep 8, 2011 7:58am Sep 8, 2011 7:58am
I have just encountered the 1st problem after 300++ trades with MBT. I could not modified my order after it was partially filled. I managed to talk to them on the phone and everything just solved in 15min.

I am satisfied with their quick respond even I have lost some pips. The only complain is that why we cant use online chat to solve the order issue? If MBT is worry about security issue why not just ask for some ID verification? You can use 2 factor authentication if you want to be even safe.
  • #8,060
  • Sep 8, 2011 10:05am Sep 8, 2011 10:05am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
1 month ago, i opened 1 oco order (market +tto) and after my take profit was hit i saw my trade it wasn't closed...i didn't know what's happening and after some time i decided to call mbtrading and they told me indeed they have tto problems and the platfrom is not able to clse my order and they can close my order through phone, at the point i closed my order i was minus 20 pips and of course i requested to be refunded for the 20 pips i lost and for 30 pips which was my take profit order which they didn't respected. they called me back and told me the only option i have is to get refund at the end of every month till they cover the amount from commissions ...i didn't liked'it to much but what the heck i accepted. and today it already passed 8 days from the end of previous month and even after i call them i still dodn't see any money credited into my acc.
i wanna know what do you think i should do, at this point...?
the are not much money but i hate the way they handle the situation and i want to do something about it.
thank's, sorin
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