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MB Trading Futures - Introduction

  • #8,381
  • Nov 10, 2011 11:22am Nov 10, 2011 11:22am
Quoting Arya323
Wanted to open an account with MB Trading but my country (Indonesia) is not on the list. You don't accept clients from Indonesia? Thanks.
Yes, our US office does accept accounts from Indonesia, its just not on the list at the moment. You may proceed with opening your account.

If this for a UK account, it will be added to the OLA in the coming weeks and then you'll be able to open an account with that office.
  • #8,382
  • Nov 10, 2011 2:08pm Nov 10, 2011 2:08pm
Quoting signorx
Hi justin!

I would like to know if free Ecn and Pay for Limit are in same way connected, I know the feed are different but the order of Free Ecn are in same way routed to Pay For Limit feed? In particular i would like to know if market order of Free Ecn could take Limit order in Pay for Limit.

Thanks!
No, the ECN orders between the two systems cannot hit each other. If they could, someone could post a bid with one account on the PFL system and sell to themselves via the FREE ECN system all day long.
  • #8,383
  • Nov 11, 2011 6:27am Nov 11, 2011 6:27am
Quoting jleblang
No, the ECN orders between the two systems cannot hit each other. If they could, someone could post a bid with one account on the PFL system and sell to themselves via the FREE ECN system all day long.
You said feed is different. What about slippages? Are they identical to ECN or worse/better?

How do I convert account from MT4 to MT4 FREE?
"Everyone gets what they want out of the market." -- Ed Seykota
  • #8,384
  • Nov 11, 2011 7:57am Nov 11, 2011 7:57am
Quoting TrgLuong
hi Justin LeBlang,
I am from Vietnam and consider opening anccount with MBtrading, there's not Vietnam in your country list. Does it mean MBT doesnot allow opening accounts from Vietnam.
I have just checked MBT's list of restricted countries. It seems Vietnam is on the restricted country list along other rouge places like:
- Croatia (beautifull place for summer holiday),
- Latvia (EU member state),
- San Marino (heck, what's wrong with them???),
- Haiti (voodoo morons),
- Philippines (sexy girls),
- Samoa (to much sunshine???),
- Canada (I believe Canadians are restricted from trading through MBT because of Celine Dion),
and the list goes on ... ... funny stuff that list of yours.
  • #8,385
  • Nov 11, 2011 9:52am Nov 11, 2011 9:52am
Quoting V4X
You said feed is different. What about slippages? Are they identical to ECN or worse/better?

How do I convert account from MT4 to MT4 FREE?
V4x,

Not sure what you mean about slippages. The execution technology is the same and the banks are mostly the same, as is the ECN technology. We just don’t combine customer orders from one ECN onto the other, and those customer orders can’t hit each other.

To do Free ECN, you have to Add a New Account and then move your money between them. You cannot convert accounts as they are on separate servers.
  • #8,386
  • Nov 11, 2011 4:46pm Nov 11, 2011 4:46pm
Quoting jleblang
Yes, our US office does accept accounts from Indonesia, its just not on the list at the moment. You may proceed with opening your account.

If this for a UK account, it will be added to the OLA in the coming weeks and then you'll be able to open an account with that office.

Justin, will the Philippines also be added to the list of countries allowed to open accounts with MBT-UK?

Certainly hope so--and soon!
Amor Fati--F. Nietzsche
  • #8,387
  • Nov 12, 2011 3:09pm Nov 12, 2011 3:09pm
Anyone having issues with MBT Paid for Limit MT4 Demo?
i am having issue with Scripts and Indicators that are .ex4 files, they will Not load, i get Errors in Terminal/Experts saying cannot open these files.
i have another seperate downloaded MT4 from MBT, it is Standard Demo Feed.
Everything is working on that one.
the two MT4 Demos from MBT are in Different Locations on my machine.
one is in C/MBT..... and the other in C/Programfiles/MBT.......
there are No duplicates of either platform in either Location.
i also have this same setup working on ATC Brokers MT4 and MBT MT4 Regular Demo Feed with No issues.
Everything seems to be the same settings everywhere i have checked when comparing all platforms.
seems to be Pointing toward MBT Paid for Limit MT4 Demo.
This issue is Only for .ex4 files, any other MQ4 files working.
any Suggestions?
Thanks in Advance.
  • #8,388
  • Nov 13, 2011 11:25am Nov 13, 2011 11:25am
Justin: given the current MF Global fiasco, and the not so confidence inspiring PNSN chart and surrounding rumors, i think raises some questions of how a potential Penson bankruptcy would play out for MB and their customers. Especially for FX accounts, who end up as unsecured creditors, while futures accounts will be secured (if they didnt pull a MFGlobal) and securities accounts have SIPC protection. It sounds to me that FX customers get shafted under this scenario. Questions over questions..
  • #8,389
  • Nov 14, 2011 2:01am Nov 14, 2011 2:01am
Last year I contacted MB Trading about an order type which would allow traders to set two separate limit orders (one for buying at a lower price, one for selling at a higher price) for the same pair at the same volume. And the activation of one would automatically cancel the other.

I was told they were in the process of introducing something of the like. Almost a year later, I still don't have access to anything of the sort via Desktop.

I'm able to do this with my other broker. I can set two limit orders for the same currency pair (one to sell at a higher price, one to buy at a lower price) overnight, and in the event that one is activated, the other order is cancelled.

It's like a TTO order ... except it actually makes sense and is not completely stupid and useless.

It's amazing that I still can't do this with MB Trading.

And since there's no hedging, the order only counts towards your margin ONCE (unlike with MB Trading, where opposite orders of the same volume BOTH count towards your margin, even though it would be impossible for both orders to be open at the same time ... so there's no reason for it). In other words, if I set a limit order to buy 10000 units, and a separate limit order to sell 10000 units, only 2% of 10000 is locked away. With MB Trading setting those two orders would mean 2% of 20000 gets "margined." Ridiculous.
  • #8,390
  • Nov 14, 2011 2:54am Nov 14, 2011 2:54am
Quoting kibescorp
>>>>>>>>>SNIP SNIP>>>>>>>>>>>

And since there's no hedging, the order only counts towards your margin ONCE (unlike with MB Trading, where opposite orders of the same volume BOTH count towards your margin, even though it would be impossible for both orders to be open at the same time ....
I agree... MB unnecessarily locks up available margin when setting an order opposite of a currently open position, as in setting an order as a stop loss, that if executed would necessarily close an open position of equal size, so there is no reason to tie up available margin.

I like you suggested order type. The squeaky wheel gets the greese... I have found MB to be very responsive to customer requests, but it requires patience and some squeaking along to way sometimes.

Lets hope they act on this soon.
  • #8,391
  • Nov 14, 2011 8:56am Nov 14, 2011 8:56am
Quoting shrike
Justin: given the current MF Global fiasco, and the not so confidence inspiring PNSN chart and surrounding rumors, i think raises some questions of how a potential Penson bankruptcy would play out for MB and their customers. Especially for FX accounts, who end up as unsecured creditors, while futures accounts will be secured (if they didnt pull a MFGlobal)...
Shrike,

Our FX business is run through MB Trading Futures (also known now as MB Trading FX) and doesn’t clear through Penson. They are not related. However, our equity and futures business is run through Penson. They keep all funds segregated, plus have the SIPC and other protection that you mentioned. Safety of funds is not an issue with Penson or their business model. They are in the process, however, of turning themselves profitable again, and we are involved in several of the steps that they are taking toward that endeavor. From the perspective of customer safety of funds, we are satisfied with their situation. From the perspective specifically of FOREX customer safety of funds, Penson is simply not a factor.
  • #8,392
  • Nov 14, 2011 3:53pm Nov 14, 2011 3:53pm
Justin,

I made on 11/3 a deposit by wire on my MBT UK account and I’m still waiting for my funds. I checked my wire instructions multiply times so I can pretty much rule out a mistake on my side. I also made 2 deposits before with exact same wire instructions and it took only one business day until the funds was posted on my account.

Frankly, I’m really getting annoyed as I never experienced such a delay before – not at MBT UK, MBT US nor at other US retail brokers where I also have accounts.

I opened on the 11/9 a support ticket but all I got was a lame answer:
“We receive our funds via Wells Fargo and sometimes they take a little longer than expected to finalize the transfer into the MB Trading account. I apologize for the delay and we are looking to minimize the gap of making the transfer as short as possible. Thank you.“
So is my deposit lost? Or how long more do you think I have to wait?

Laker
  • #8,393
  • Nov 14, 2011 9:29pm Nov 14, 2011 9:29pm
justin,not long ago i can closed up my trading size with partial lots,like 0.02 lot but today when i tried to do so,i was prompted that i can only closed min. 0.1 lot,is there something changed or i am missing out something?
  • #8,394
  • Nov 15, 2011 9:05am Nov 15, 2011 9:05am
Quoting fxking
justin,not long ago i can closed up my trading size with partial lots,like 0.02 lot but today when i tried to do so,i was prompted that i can only closed min. 0.1 lot,is there something changed or i am missing out something?
Minimum lot size on our system has always been 0.1. If you got a smaller fill at some point, it wasn’t supposed to be.
  • #8,395
  • Edited 10:16am Nov 15, 2011 10:01am | Edited 10:16am
Quoting fxking
justin,not long ago i can closed up my trading size with partial lots,like 0.02 lot but today when i tried to do so,i was prompted that i can only closed min. 0.1 lot,is there something changed or i am missing out something?
Partially related...

I've tried orders in the past with "odd" volumes (like 1.225 lots) and they have processed successfully. See screenshot of Order History.

Today, I get this message:

Order rejected for reason: invalid quantity, forex volume must be multiples of minimum volume: 1000
Attached Image (click to enlarge)
Click to Enlarge Name: mbt1.jpg Size: 21 KB
  • #8,396
  • Nov 15, 2011 10:36am Nov 15, 2011 10:36am
Quoting zznbrm
Partially related...

I've tried orders in the past with "odd" volumes (like 1.225 lots) and they have processed successfully. See screenshot of Order History.

Today, I get this message:

Order rejected for reason: invalid quantity, forex volume must be multiples of minimum volume: 1000
its good that u have the screenshot to show justin.Thats exactly what i am talking abt,Partial Filled for closing a trade,definately NOT e 0.1 lot size which u had claimed Justin.Good work zznbrm!
  • #8,397
  • Nov 15, 2011 10:38am Nov 15, 2011 10:38am
Quoting jleblang
Minimum lot size on our system has always been 0.1. If you got a smaller fill at some point, it wasn’t supposed to be.
Justin,pls see zzbrm's latest posting abt my concern too and revert,thanks!
  • #8,398
  • Nov 15, 2011 5:43pm Nov 15, 2011 5:43pm
Good day to all
I am having trouble loging in to my demo mt4 account
there is no connection !
it has been more than a month since i logged in last time
Is there any problems? did you change the servers or something ?
How can I connect now, please help
  • #8,399
  • Nov 16, 2011 12:20pm Nov 16, 2011 12:20pm
Quoting salem_747
Good day to all
I am having trouble loging in to my demo mt4 account
there is no connection !
it has been more than a month since i logged in last time
Is there any problems? did you change the servers or something ?
How can I connect now, please help

Go back two pages to post 8358
  • #8,400
  • Nov 16, 2011 1:33pm Nov 16, 2011 1:33pm
Quoting fxking
Justin,pls see zzbrm's latest posting abt my concern too and revert,thanks!
Fxking,

Sorry, maybe I didn’t state it clearly. You cannot trade lots less than 1000 or get fills in the last three digits size wise (i.e. 2450). If you got a smaller fill at some point, THAT was the error, not the current inability to do so.
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