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MB Trading Futures - Introduction

  • #8,901
  • Jan 26, 2012 1:18pm Jan 26, 2012 1:18pm
was wondering why , Mb use this kind of policy; The min "account value" for placing the forex trade is 200 usd .
It means that if my account is down to 199 usd , am not allowed to trade, and it also means that if my position reaches to $199 it will be closed.
I was about to choose Mb after many searches about best broker to deal with , but this statement really put me off.

Why not stating things clearly from the beginning? or writing this clause just beside the one that states the min account to be opened.
There should be a big note saying: Please note ... your min deposit is $400, but actually by depositing $400 with us it is like having only $200 available, ..deposit 1,000 and you get 200 less and available $800 and so on .
Real transparency is all.

Any chance that in future this rule will be erased ?
  • #8,902
  • Jan 26, 2012 1:26pm Jan 26, 2012 1:26pm
Quoting smikor

Any chance that in future this rule will be erased ?
No
  • #8,903
  • Jan 26, 2012 1:32pm Jan 26, 2012 1:32pm
Quoting smikor
was wondering why , Mb use this kind of policy; The min "account value" for placing the forex trade is 200 usd .
It means that if my account is down to 199 usd , am not allowed to trade, and it also means that if my position reaches to $199 it will be closed.
I was about to choose Mb after many searches about best broker to deal with , but this statement really put me off.

Why not stating things clearly from the beginning? or writing this clause just beside the one that states the min account to be opened.
There should be a big note saying:...
i thought it is Min.$100 to open a position,justin pls verify this...
  • #8,904
  • Jan 26, 2012 1:35pm Jan 26, 2012 1:35pm
It will actually let you open a position down to $100 Justin posted months and months ago, but the policy on the web site if $200. You know at some point you have so little capital left, isn't it better to wait till next payday and add to the account?

MB has to protect itself from loses that might occur in an underfunded account. Black Swan moments don't happen often, but they do happen.
  • #8,905
  • Jan 26, 2012 7:30pm Jan 26, 2012 7:30pm
Quoting Crassius
It will actually let you open a position down to $100 Justin posted months and months ago, but the policy on the web site if $200. You know at some point you have so little capital left, isn't it better to wait till next payday and add to the account?

MB has to protect itself from loses that might occur in an underfunded account. Black Swan moments don't happen often, but they do happen.
thanks bro for clarifying,i just wanna make sure that i got it right! good trading!
  • #8,906
  • Jan 26, 2012 8:47pm Jan 26, 2012 8:47pm
The reason why being stopped ay $200 is annoying, is because at time if not all the times, few available bucks in the account do matter.

Few months back, with forex.com market makers,i went down to $68, and got a margin call, and if you open a new position with standard lots it wont open, however if you try with mini lots, it might open it, and as soon as you are down 3/4 pips it closes the position. Fair enough !

As i was rather lazy to go to the bank and wire new funds, I tried to open a new position during the asian session, with $68 but It refused to open it.

I did not give up and kept on trying and placed a sell Eur-Usd, (cos of the lowest spread) with only one mini lot 0.1, in the overlapping session Usa-London.
The volatility was very high, and got 12 pips in less than 2 min.
I immediately closed the position, waited for the next big moment down, placed another trade opened a new position, went against me 4 pips, then followed its down momentum and got another 18 pips.

Doubled position with 2 mini lots this time, it accepted it, and got another 9 pips = 18 dollars and my account was back to 116.usd
12 +18 + 9x2 = 48 pips = 48 usd.

Was so happy and thoguht to recover all, starting from very low money, however as London ended and there was definitely low volume i shutted the platform and went to fund the bank account the day after.

All this just to say, its nice not to be stopped by the broker before the time comes.
MB certainly need to protect themselves, but 200 is too much.
Thank you
  • #8,907
  • Jan 27, 2012 3:11am Jan 27, 2012 3:11am
Justin,
Since circa 4:00 gmt there are plenty of missing bars, especially on lower time frames (no price history from 4:50 to 6:01 at all), problems with chart updates as well as demo orders execution isssues. Do you have an idea what's the reason of such untypical operation of desktop pro today?
Attached Image (click to enlarge)
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"hey hey what can I do"
  • #8,908
  • Jan 29, 2012 11:28pm Jan 29, 2012 11:28pm
  •  ilove
  • | Joined Dec 2011 | Status: because he first loved us. | 52 Posts
Hi Justin, I noticed that margin is used even for limit orders (no position yet). Is this the designed/default behavior or just a bug? I am talking about a live Free EXN plan account. Thanks.
If you can't tell, just wait. The market will.
  • #8,909
  • Jan 29, 2012 11:58pm Jan 29, 2012 11:58pm
Quoting ilove
Hi Justin, I noticed that margin is used even for limit orders (no position yet). Is this the designed/default behavior or just a bug? I am talking about a live Free EXN plan account. Thanks.
Confirmed. If not a bug then certainly a new feature, not seen before...
  • #8,910
  • Jan 30, 2012 2:30am Jan 30, 2012 2:30am
Quoting ilove
Hi Justin, I noticed that margin is used even for limit orders (no position yet). Is this the designed/default behavior or just a bug? I am talking about a live Free EXN plan account. Thanks.
it's always been like that, this is why i don't trade with them anymore, hard to place any more trades when limits orders eating up your margin.
  • #8,911
  • Jan 30, 2012 9:36pm Jan 30, 2012 9:36pm
Quoting toujitsz
Hi Justin,

My client number is 11xxxxxx,and I can't place order anymore since 2 weeks ago,before that I already trade over 40 times.

But now when I send a order,MT4 just show "Please Wait" message and "Cancel order" button,there is no reaction after that[font=courier new],no matter market order or pending order,and the connecting are fine,because price keep changing.

I also tried DesktopPro with or without MT4,the error message is the same as follow: "Reject Unable to process last request:...
Finally,I can place order now.First I try another PC,after I installed MT4,the software remind me I need update before I login,I check update button,but I can't update.This remind me maybe is the Chinese GFW block the update server,so I use freegate sofeware to pass GFW,then I can update,after restart MT4,I can place order as well.

So thanks for your help,if other Chinese clients suffer this problem,you may try use my way.
  • #8,912
  • Jan 30, 2012 11:13pm Jan 30, 2012 11:13pm
Quoting tricello
Position in LIVE account dissapeared... on another account just can't close it. Customer service and order desk not responding US or UK...

I can't believe it. You just lost a client

Tricello,

I’m going to need a little more than just that sort of accusation. Orders don’t just disappear for no reason. Please private message me your account number and details of this and I will investigate and get back to the forum. We respond all day to US and UK emails, chats, and phones, so how are you saying you contacted us?
  • #8,913
  • Jan 31, 2012 12:45am Jan 31, 2012 12:45am
Well I'm coming to this long party (thread) late.

I was looking at the spreads comish etc all looks good.
You seem to have micro (400 dollar min) accounts thats cool.
I need another home to open another account and was doing some research when I came across MB in 100forexbrokers. I think the only question I have left is how close to the market can I place a pending buy/sell order? Is it 1 pip 10 20 80 what is it please?

I understand you pay better for limit orders and I do use them from time to time but in this account I would be parking an order with a script and that same script would be doing the rest.
Thx for your time.
  • #8,914
  • Jan 31, 2012 12:47am Jan 31, 2012 12:47am
Quoting tommbstone
Well I'm coming to this long party (thread) late.

I was looking at the spreads comish etc all looks good.
You seem to have micro (400 dollar min) accounts thats cool.
I need another home to open another account and was doing some research when I came across MB in 100forexbrokers. I think the only question I have left is how close to the market can I place a pending buy/sell order? Is it 1 pip 10 20 80 what is it please?

I understand you pay better for limit orders and I do use them from time to time but in this account I would be parking...
As close as you want.
  • #8,915
  • Jan 31, 2012 12:55am Jan 31, 2012 12:55am
Ok thx

Glad I did a demo with alpari first. They wont let you in with a pending order if its within 30 pips of price. Lame
  • #8,916
  • Jan 31, 2012 2:24am Jan 31, 2012 2:24am
Quoting jleblang
Tricello,

I’m going to need a little more than just that sort of accusation. Orders don’t just disappear for no reason. Please private message me your account number and details of this and I will investigate and get back to the forum. We respond all day to US and UK emails, chats, and phones, so how are you saying you contacted us?
I'm sorry Justin. Message deleted.

I got back home late at night and couldn't see my positions and panicked but didn't realized it was rollover. My IP provider was having trouble and couldn't contact by phone US or UK offices.

The problems were all on my side. An apology for an overreaction... it's just that 10 minutes feel very long when you are overexposed.
  • #8,917
  • Jan 31, 2012 8:48am Jan 31, 2012 8:48am
I have same trouble to enter in client area of MBT site (timeout error), any of you have the same problem?
  • #8,918
  • Jan 31, 2012 9:22am Jan 31, 2012 9:22am
Quoting signorx
I have same trouble to enter in client area of MBT site (timeout error), any of you have the same problem?
i tried to login to both MBT US and MBT UK client areas and both are working fine for me.
I'm not insane; my mother had me tested.
  • #8,919
  • Jan 31, 2012 10:01am Jan 31, 2012 10:01am
Disconnected from quote server for 8 minutes now... started at 10:53 EST

Anyone else?
  • #8,920
  • Jan 31, 2012 10:06am Jan 31, 2012 10:06am
Just got reconnected. 11:05 AM EST
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