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MB Trading Futures - Introduction

  • #8,201
  • Sep 30, 2011 9:33am Sep 30, 2011 9:33am
jleblang,
Can you tell me what is spread different from free ecn vs paid fee? I would like to see some examples on major pairs and some exotic pairs as well? thanks
  • #8,202
  • Sep 30, 2011 9:49am Sep 30, 2011 9:49am
Quoting V4X
Thanks for your answers, Justin.

- Will the same apply for the .UK division?
Yes, UK too.
  • #8,203
  • Sep 30, 2011 9:50am Sep 30, 2011 9:50am
Quoting surewin888
jleblang,
Can you tell me what is spread different from free ecn vs paid fee? I would like to see some examples on major pairs and some exotic pairs as well? thanks
Surewin888,

You will have full access to the spreads via our site and the Demo software in a couple of weeks when we start accepting live accounts. Remember, these aren’t fixed spreads, so it isn’t a function of just telling you what the spread will be. These are bank spreads marked up on the fly. You can then compare them to our existing plan spreads where you add the commission and decide what works for you.
  • #8,204
  • Sep 30, 2011 9:53am Sep 30, 2011 9:53am
Quoting Rader
jleblang,

what bridge are you using?

And, please tell me, how is it possible for a TRUE ECN broker to use MT platform, which allows full manipulation of the market and the limit orders aren't going to to the ECN until they get filled as market orders?
Rader,

Because we were an ECN broker with STP bank execution before most others were, we had to write our own bridge to MT4. There’s no solution out there that would work with our systems that works on other brokers. If you’ve ever used our MT4, you know that your Limit orders go to the ECN book immediately and display in the quote for all to see. On the existing plan, you can even watch a Level 2 on our Desktop software at the same time and see your order by size exactly.
  • #8,205
  • Edited 10:36am Sep 30, 2011 10:06am | Edited 10:36am
Hi peeps!

Did anyone had situation where stop which was previously placed in system didn't get filled during rollover off-time,causing loss?
I know that it's not some highly likely event to happen but it's possible as it happened to me with Interactive brokers.They have this funky rule for NZD pairs...
Justin,can this be solved somehow,at least for stop loss orders previously placed in MBT sys?
Regards!

EDIT:Have forgot to ask is MBT Nav working on linux ubuntu under wine?
  • #8,206
  • Sep 30, 2011 11:18am Sep 30, 2011 11:18am
Justin,

Your site didnt explain in details how the free and paid stuff works. I use the desktop platform.

Can anyone share more information on this.

Thanks
  • #8,207
  • Edited 11:27pm Sep 30, 2011 10:49pm | Edited 11:27pm
Quoting jleblang
As I said in post 8189, Limit orders displayed are only visible to others on the same plan...two different systems.
I guess I'm happy that they didn't do away with "Pay for Limits" completely.
I am also sad, as I doubt we will see any customer order liquidity INCREASE on the "Pay for Limits" side.

Most are MetaTrader users, most new accounts from this point on...
will be flocking to the new "Free ECN* Model" system.
Many current MT4 users will convert.

Who am I bringing "liquidity" to then?
They have made it "simpler" for those who didn't "do the math" before...
or were scared by commissions...to show them best value.

But...
all of the people convinced of that...the newly converted...
will be on their own system. It's a new model.

I can only hope they keep "Pay for Limits" for some time.
I will trade it... until it is gone.
  • #8,208
  • Oct 1, 2011 12:11am Oct 1, 2011 12:11am
I guess my bugs report was swept the under carpet like what pavikogm mentioned before.

Quote
Most are MetaTrader users, most new accounts from this point on...
will be flocking to the new "Free ECN* Model" system.
Many current MT4 users will convert.

Once they learn how bad can their MT4 bridge slip their stop order they will once again run away.

Quote
Who am I bringing "liquidity" to then?
They have made it "simpler" for those who didn't "do the math" before...
or were scared by commissions...to show them best value.

Yeah I guess the order matched on ECN level will be reduced significantly if a lot of Pay for Limits traders switch to Free ECN.
  • #8,209
  • Oct 1, 2011 12:19am Oct 1, 2011 12:19am
Quoting LukaM
Hi peeps!

Did anyone had situation where stop which was previously placed in system didn't get filled during rollover off-time,causing loss?
I know that it's not some highly likely event to happen but it's possible as it happened to me with Interactive brokers.They have this funky rule for NZD pairs...
Justin,can this be solved somehow,at least for stop loss orders previously placed in MBT sys?
Regards!

EDIT:Have forgot to ask is MBT Nav working on linux ubuntu under wine?
I believe that happened once (a few months ago if i am not mistaken) when the price leaped over 100pips during the rollover period. Someone made a complaint here. There is nothing can be done because all systems go offline during the rollover period.
  • #8,210
  • Edited 2:35am Oct 1, 2011 2:22am | Edited 2:35am
Quoting Intu
I am also sad, as I doubt we will see any customer order liquidity INCREASE on the "Pay for Limits" side.

Most are MetaTrader users, most new accounts from this point on...
will be flocking to the new "Free ECN* Model" system.
Many current MT4 users will convert.

Who am I bringing "liquidity" to then?
They have made it "simpler" for those who didn't "do the math" before...
or were scared by commissions...to show them best value.
+1

Less liquidity = longer time to get filled =

Btw, is MBT's ECN a true ECN or is it STP? If it were an ECN, wouldn't banks trade with us also? But usually EUR/USD's volume is 120k on a 1min chart vs ~500 contracts/min average for EUR futures (1 contract = 125k euros).
  • #8,211
  • Edited 7:20am Oct 1, 2011 2:24am | Edited 7:20am
Quoting ForexQuant
...because all systems go offline during the rollover period.
Would not agree on that if you mean "all" in general.As i said of all pairs traded via IB's Ideal Pro only NZD pairs are offline for some time.I think that Oanda doesn't have this offline period at all.
And for me,here in Europe,this offline time happens around noon which is highly inconvenient.Although it is just 8 min or so it can cause unnecessary loss.Trading by it self is risky enough without such things.
Justin,would really like to hear your 2cents..
Cheers!

EDIT:You are right about IB Quant,sorry for that.Had a unwanted loss once on NZDUSD because of 15min "timeout" during which stop wasn't filled.Had a phone chat with their guy and somehow i remembered he told me that this happens just for NZD pairs.Only good thing is that they do it 17EST which is when things are usually quiet.
I feel like dumb ass for missing such important info..
  • #8,212
  • Oct 1, 2011 2:40am Oct 1, 2011 2:40am
Quoting LukaM
Would not agree on that if you mean "all" in general.As i said of all pairs traded via IB's Ideal Pro only NZD pairs are offline for some time.I think that Oanda doesn't have this offline period at all.
And for me,here in Europe,this offline time happens around noon which is highly inconvenient.Although it is just 8 min or so it can cause unnecessary loss.Trading by it self is risky enough without such things.
Justin,would really like to hear your 2cents..
Cheers!
Oanda is a MM so they do not have this issue. Oh yes it is all, their trade server is down during the rollover period so any server's resting order will not be executed at that moment.
  • #8,213
  • Oct 1, 2011 10:46am Oct 1, 2011 10:46am
Quoting Intu
I guess I'm happy that they didn't do away with "Pay for Limits" completely.
I am also sad, as I doubt we will see any customer order liquidity INCREASE on the "Pay for Limits" side.

Most are MetaTrader users, most new accounts from this point on...
will be flocking to the new "Free ECN* Model" system.
Many current MT4 users will convert.

Who am I bringing "liquidity" to then?
They have made it "simpler" for those who didn't "do the math" before...
or were scared by commissions...to show them best value.

But...
all of the...

This is true. It is quite obvious that there will be a massive drain of lquidity from the 'pay for limit' ECN as most retail punters shift over to the other dumber Jersey-Shore friendly ECN.

Has MB Trading really thought this one through? When they first announced Pay for limits, it was obvious that they wanted/needed to increase the liquidity for their ECN. No other broker had such a system. And now with this they have completely negated that. I don't get it.
We're all stories in the end. Just try to make it a good one.
  • #8,214
  • Oct 1, 2011 4:28pm Oct 1, 2011 4:28pm
Traderji wrote,

"the other dumber Jersey-Shore friendly ECN."

very apt description !!

Bravo....
  • #8,215
  • Oct 1, 2011 7:39pm Oct 1, 2011 7:39pm
Quoting pavikogm
Yes. I confirm. I've reported it many times here (this thread) and with 2 ticket support. Thickets are closed with no reply. It's many months now (maybe even more than a year) and this issue was not addressed. Can't modify order when it was partially closed in MT4
This issue should be resolved starting Monday after 5 pm EST rollover.
  • #8,216
  • Oct 1, 2011 7:40pm Oct 1, 2011 7:40pm
Quoting LukaM
Hi peeps!

Did anyone had situation where stop which was previously placed in system didn't get filled during rollover off-time,causing loss?
I know that it's not some highly likely event to happen but it's possible as it happened to me with Interactive brokers.They have this funky rule for NZD pairs...
Justin,can this be solved somehow,at least for stop loss orders previously placed in MBT sys?
Regards!

EDIT:Have forgot to ask is MBT Nav working on linux ubuntu under wine?
LukaM,

Execution is turned off during rollover. The banks are all resetting their systems. We have no one to route to.
  • #8,217
  • Oct 1, 2011 7:40pm Oct 1, 2011 7:40pm
Quoting torroray
Justin,

Your site didnt explain in details how the free and paid stuff works. I use the desktop platform.

Can anyone share more information on this.

Thanks
Torroray,

Between this page of our site (link to forex.aspx) and my post 8189 here on the forum, it should answer all of your questions. There will be more pages on the site about it when we start taking accounts. If you have read the last few pages of this thread and still have questions, please ask them specifically and I will do my best to answer.
  • #8,218
  • Oct 1, 2011 7:43pm Oct 1, 2011 7:43pm
Quoting Intu
I guess I'm happy that they didn't do away with "Pay for Limits" completely.
I am also sad, as I doubt we will see any customer order liquidity INCREASE on the "Pay for Limits" side.

Most are MetaTrader users, most new accounts from this point on...
will be flocking to the new "Free ECN* Model" system.
Many current MT4 users will convert.

Who am I bringing "liquidity" to then?
They have made it "simpler" for those who didn't "do the math" before...
or were scared by commissions...to show them best value.

But...
all...
Intu,

Pay for Limits will stay, and in fact, there are many people that will continue to find that model compelling, especially system traders that want the tighter spreads to trigger their orders. You don’t have to worry at all about it going away.
  • #8,219
  • Oct 1, 2011 7:45pm Oct 1, 2011 7:45pm
Quoting Traderji
This is true. It is quite obvious that there will be a massive drain of lquidity from the 'pay for limit' ECN as most retail punters shift over to the other dumber Jersey-Shore friendly ECN.

Has MB Trading really thought this one through? When they first announced Pay for limits, it was obvious that they wanted/needed to increase the liquidity for their ECN. No other broker had such a system. And now with this they have completely negated that. I don't get it.
Traderji,

We have thought it through and I don’t agree with what you’re saying. The new model should appeal to people used to spread-only trading with the added benefit of being able to post on the ECN. The old model will appeal more to people whose systems depend on tighter spreads and those that use a lot of Limit orders, due to the payment. You’re also assuming that at some point down the road, we won’t have the Limit orders from both blended into each other so the extra liquidity will appear on either model.
  • #8,220
  • Oct 1, 2011 9:09pm Oct 1, 2011 9:09pm
Justin,
when do you think that you will have PAMM function like Oanda broker? I'm eager looking forward this.
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