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MB Trading Futures - Introduction

  • #8,421
  • Nov 22, 2011 5:27pm Nov 22, 2011 5:27pm
Quoting fxking
justin,i am getting abit confused with so many types of accts offered by MBT now,if i am using Desktop Pro for trading & which type of platform shares the similiar quotes as Desktop Pro,e Free ECN MT4 or Pay For Limits MT4?
We have two types of accounts;

Pay for Limits - which can be traded via Desktop Pro or MT4 (with MT4 specific account) and they have the same quote feed.

Or

Free ECN - which can only be traded via MT4 and does not share the same quote feed at the Pay for Limits accounts.
  • #8,422
  • Nov 23, 2011 8:29am Nov 23, 2011 8:29am
Justin, I've been having problems with my Free ECN demo account. Metatrader keeps freezing up on me.
  • #8,423
  • Nov 26, 2011 9:05am Nov 26, 2011 9:05am
Guys,

I am a gomarkets customer thinking of leaving due to poor execution and slippage.

Just answer honestly, would a mb trading pay for limits account be less expensive spread wise than a gomarkets account?

I trade using limit orders.

Also what is execution like?
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  • #8,424
  • Nov 26, 2011 9:59am Nov 26, 2011 9:59am
Quoting jleblang
Jack,

Residents of Canada are not permitted to open an FX account with MB Trading at this time.
VERY disappointing...
FXGears.com
  • #8,425
  • Nov 26, 2011 10:27am Nov 26, 2011 10:27am
But not a disappointment in MB trading so much as being a disappointment in our nosy federal regulators. It's starting to get worse n worse up here albeit slowly.
  • #8,426
  • Nov 26, 2011 11:00am Nov 26, 2011 11:00am
Quoting leerees
Guys,

I am a gomarkets customer thinking of leaving due to poor execution and slippage.

Just answer honestly, would a mb trading pay for limits account be less expensive spread wise than a gomarkets account?

I trade using limit orders.

Also what is execution like?
Way cheaper, way better.
  • #8,427
  • Nov 26, 2011 11:20am Nov 26, 2011 11:20am
Quoting Wacky Canuck
But not a disappointment in MB trading so much as being a disappointment in our nosy federal regulators. It's starting to get worse n worse up here albeit slowly.
If MB trading was only out of the US I could understand, but they have a UK office and thus could provide accounts to Canadians. This is how FXCM operates, they register Canadian clients with their UK office.
FXGears.com
  • #8,428
  • Nov 26, 2011 11:57am Nov 26, 2011 11:57am
Quoting jleblang

Free ECN - which can only be traded via MT4 and does not share the same quote feed at the Pay for Limits accounts.
Hi justin, what do you mean does not share the same quote feed at the Pay for Limits accounts.

so where do the free ecn price feed belong ?
I'm sorry, still the non dealing desk price feed ? and non dealing desk execution ?
- 888 Horse Power - Fast Momentum Speed Run Towards VICTORY
  • #8,429
  • Edited 9:57pm Nov 26, 2011 7:41pm | Edited 9:57pm
Quoting leerees
I am a Gomarkets customer thinking of leaving due to poor execution and slippage.

Just answer honestly, would a MB Trading pay for limits account be less expensive spread wise than a Gomarkets account?
I am a "Pay for Limits" fan. I've been trading it for almost 6 months, coming from 2 years at Oanda.

Average spread: 0.9 pips EUR/USD

Many times I am actually trading against the major liquidity providers.
My limit orders do not get executed until they change their BID to my OFFER or
vice versa.

Sometimes, more rarely, another "small trader" may hit my bid or offer.

Here's the simple amazing math....
at worst.... paying a 0.9 pip spread,
I get paid just above 1/4 of a pip PER SIDE on my limit orders if they get executed.
It's a skill, it can be learned...you can enter and exit with Limit Orders.
You can profit immensely.

Conclusion: using Limit Orders for both sides (entry/exit), my effective cost is 0.9 pips -.26 pips -.26 pips= .38 pips spread

It's the most amazing deal for the small retail trader/scalper.
Those who have not traded with MB, the payout is instant, it's credited to your account upon entry and/or exit trade execution.

Some days, depending on the distribution/size of my winning trades,
"Pay for Limits" payouts can be 10% to 20% of my profits for the day.

If you think paying 1.2 pips or higher for any other broker's EUR/USD spread is worth it, you are crazy.
Using limit orders is also beneficial because the slippage is ONLY IN YOUR FAVOR. You get your fills at your Limit or BETTER.

In fast markets, when I am on the right side of the short term trend, I get price improvements all the time
...sometimes fractions of a pip, sometimes (rarely) multiple pips.
You have to understand the nature of the ECN and it's liquidity, make it work in your favor.

For those outside of the US, perhaps skeptical, MB Trading is a reputable broker/dealer
which operates in Equities, Futures, Options, AND FOREX.
They have won Barron's awards for many years. Their Navigator Pro software is excellent (I hate MetaTrader).

I am a EUR/USD scalper and that's my opinion.
  • #8,430
  • Nov 27, 2011 9:14pm Nov 27, 2011 9:14pm
Having a problem in last few hours with website client login service, any updates?

Thanks.
  • #8,431
  • Nov 28, 2011 5:40am Nov 28, 2011 5:40am
leerees,
I have been trading with MB since 2007, over the years they have constantly improved their retail fx platforms, eg; no charts when I first started, excellent charting now, commissions lowered, now pay for limits. I'm no fan of MT4 but they offer this.
I trade using the desktop pro, far superior platform with great execution, pay for limits, trade between the spread.
I'm based in Australia & follow the Go markets discussion, was thinking of opening an account with them a while back to keep some funds in AUD, their downward spiral means this won't be happening.
In my 4 yrs of trading a live account I haven't come across a better retail fx platform than MB's desktop pro.
As Indytrader said way cheaper, way better & way faster.
  • #8,432
  • Nov 28, 2011 9:36am Nov 28, 2011 9:36am
Quoting Du Jin Shan
Hi justin, what do you mean does not share the same quote feed at the Pay for Limits accounts.

so where do the free ecn price feed belong ?
I'm sorry, still the non dealing desk price feed ? and non dealing desk execution ?
I think the site is pretty clear about this, but the PFL (Pay for Limits) and Free ECN feeds are completely different.

PFL takes a bunch of raw bank quotes PLUS customer Limit orders (customers on the PFL plan) and shows the exact prices.

Free ECN takes our largest banks and providers, marks up their spreads slightly on the fly, but also includes Limit orders for customers on the FREE ECN plan without mark-up/mark-down.

The executions on the two plans do not intermix, meaning if you are on the FREE ECN plan and post a Limit order to buy above the bid, a customer on the PFL cannot see or hit that Limit, and vice versa.

They are thus separate plans with separate feeds.

In a general sense, the quotes will be very near each other.
  • #8,433
  • Nov 28, 2011 9:59am Nov 28, 2011 9:59am
Quoting jleblang
I think the site is pretty clear about this, but the PFL (Pay for Limits) and Free ECN feeds are completely different.

PFL takes a bunch of raw bank quotes PLUS customer Limit orders (customers on the PFL plan) and shows the exact prices.

Free ECN takes our largest banks and providers, marks up their spreads slightly on the fly, but also includes Limit orders for customers on the FREE ECN plan without mark-up/mark-down.

The executions on the two plans do not intermix, meaning if you are on the FREE ECN plan and post a Limit order to buy...
Thanks for your reply Justin.
How about the chart, do Free ecn plan has the same chart with PFL.

Best regards,
Jin Shan
- 888 Horse Power - Fast Momentum Speed Run Towards VICTORY
  • #8,434
  • Edited 10:43am Nov 28, 2011 10:19am | Edited 10:43am
they would be very close,
but actual prices BID/ASK will be differently slightly because of the
reasons Justin just stated.

If they were largely different, ARB opportunities might exist.
Unless you were trading with tenths of a pip accuracy,
they would be very similar.

The prices are generated by the willingness of the people in each "little" marketplace to BUY and SELL.
one "marketplace" = Free ECN (composed of retail traders, liquidty providers, etc.)
second "marketplace" = Pay for Limits ECN (as above)

Free ECN has commissions built into it's (own) quote ... prices slightly different.

Average spread on Free ECN this morning (approx.) 1.2-1.3 pips EUR/USD
Average spread on Pay for Limits this morning (approx.) 0.9-1 pip EUR/USD

The ONLY thing MB Trading does is collect the information of all the participants and broadcast it to you.
They do not decide what the chart looks like, they do not decide the spread.
  • #8,435
  • Nov 28, 2011 3:05pm Nov 28, 2011 3:05pm
Quoting Du Jin Shan
Thanks for your reply Justin.
How about the chart, do Free ecn plan has the same chart with PFL.

Best regards,
Jin Shan
Du Jin Shan,

No, the charts on FREE ECN plan is based on the quote data for our FREE ECN plan. The charts on PFL are based on quote data from PFL.
  • #8,436
  • Nov 29, 2011 9:25am Nov 29, 2011 9:25am
Hello, I am using MBT Navigator.

Can somebody tell me how I can find data from a day in the past, so I need not scroll back the whole way ?

Thank you
  • #8,437
  • Nov 29, 2011 4:04pm Nov 29, 2011 4:04pm
In the past, MB Trading stated that they would begin "liquidating" your account if your available $$$ (besides the margin debit) dropped to 50% of the margin debit.

But now, I just read the "margin" page on the website, and it seems to say that your account won't start to be liquidated until ONLY the margin debit remains (so a larger allowance of loss than before?).

Am I understanding this correctly?


Also, can anyone who usually holds positions long-term confirm whether or not your buying power increases as your open profit increases?

In other words, if you make a successful LONG trade and the price continues to move up, can you continue to add more lots (as your open profit increases) or do you have to CLOSE the position before your open profit counts towards your account total?

This makes a big difference in long-term trading, because in one instance you would have to close and "claim" your open profits and open new positions to continue trading at higher volumes ... whereas in the other, you'd be able to hold the same position and keep adding more lots to it indefinitely.
  • #8,438
  • Nov 29, 2011 6:17pm Nov 29, 2011 6:17pm
Quoting kibescorp
In the past, MB Trading stated that they would begin "liquidating" your account if your available $$$ (besides the margin debit) dropped to 50% of the margin debit.

But now, I just read the "margin" page on the website, and it seems to say that your account won't start to be liquidated until ONLY the margin debit remains (so a larger allowance of loss than before?).

Am I understanding this correctly?


Also, can anyone who usually holds positions long-term confirm whether or not your buying power increases as your...
Unrealized PnL gains do not add to BP.
  • #8,439
  • Nov 29, 2011 6:26pm Nov 29, 2011 6:26pm
Quoting kibescorp
In the past, MB Trading stated that they would begin "liquidating" your account if your available $$$ (besides the margin debit) dropped to 50% of the margin debit.

But now, I just read the "margin" page on the website, and it seems to say that your account won't start to be liquidated until ONLY the margin debit remains (so a larger allowance of loss than before?).

Am I understanding this correctly?


Also, can anyone who usually holds positions long-term confirm whether or not your buying power increases as your [b]open...

Mb does however credit your account immediately on the close of a trade... other brokers like GFT or Dukascopy (last I read their terms) have a two day settlement process.
  • #8,440
  • Nov 30, 2011 7:58am Nov 30, 2011 7:58am
anyone using MT4 platform & is not able to use? mine had been frozen for a while now.Does this always happens to MT4 platform?
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