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MB Trading Futures - Introduction

  • #8,961
  • Edited 3:19am Feb 8, 2012 2:27am | Edited 3:19am
Quoting jleblang
Forexquant,

It wasn’t us at all, but it seems to be resolved.
If it is ok may i know what was the causes so that i can report to photon vps directly if it happens again. You may pm me if it is not convenience to tell here.
  • #8,962
  • Feb 8, 2012 6:05am Feb 8, 2012 6:05am
Hello, Justin,

Could I strongly suggest your company improve the execution quality, I know during volatility times, every thing is possible, but compared to other competitors there is much much room for MBT to improve. Frankly speaking, quite a lot of clients are leaving you becuase of this reason.
  • #8,963
  • Feb 8, 2012 8:17am Feb 8, 2012 8:17am
Quoting aizirui
Frankly speaking, quite a lot of clients are leaving you becuase of this reason.
I take this to mean you either:

a) personally know "a lot of clients" who have left MBT because of execution quality or

b) you have inside information concerning the number of clients who have left and the reasons why.

So...which is it?
  • #8,964
  • Feb 8, 2012 10:15am Feb 8, 2012 10:15am
Quoting zznbrm
I take this to mean you either:

a) personally know "a lot of clients" who have left MBT because of execution quality or

b) you have inside information concerning the number of clients who have left and the reasons why.

So...which is it?
And he knows this on his second post. :-)

By the way, Justin, I have to say that my PFL account, the speeds of execution have been flying the last few days. My guess would be that you guys made some changes that caused those non-crossed quote issues a week or two ago, then you fixed that, and now your executions are vastly improved. I haven't had a single slow fill this week. Anything you can confirm?
  • #8,965
  • Feb 8, 2012 12:42pm Feb 8, 2012 12:42pm
Quoting zznbrm
I take this to mean you either:

a) personally know "a lot of clients" who have left MBT because of execution quality or

b) you have inside information concerning the number of clients who have left and the reasons why.

So...which is it?
Different people leave their brokers for many different reasons. All brokers have some issues, from time to time. There are plenty of traders (incl. here at FF) who do like MBT. Whether (and how many) customers leave MBT is irrelevant - each trader has to decide for himself/herself. This forum is a good place to try to sort out any issues and STAY with MBT - decision to leave can be taken easily "off thread", no "crowd wisdom" is needed for that.
One Chart is Worth Ten Thousand Words.
  • #8,966
  • Feb 8, 2012 1:29pm Feb 8, 2012 1:29pm
Quoting Forex007
Different people leave their brokers for many different reasons. All brokers have some issues, from time to time. There are plenty of traders (incl. here at FF) who do like MBT. Whether (and how many) customers leave MBT is irrelevant - each trader has to decide for himself/herself. This forum is a good place to try to sort out any issues and STAY with MBT - decision to leave can be taken easily "off thread", no "crowd wisdom" is needed for that.
All of that is completely obvious.

I simply want to understand how someone can claim "quite a lot of clients are leaving" because of execution quality. To be honest, I'm "calling him out" on his statement because I think the person who said that was either embellishing the "facts" or was completely making things up for other reasons. Unfounded statements like these are all too common on this forum.
  • #8,967
  • Feb 8, 2012 1:35pm Feb 8, 2012 1:35pm
Quoting zznbrm
All of that is completely obvious.

I simply want to understand how someone can claim "quite a lot of clients are leaving" because of execution quality. To be honest, I'm "calling him out" on his statement because I think the person who said that was either embellishing the "facts" or was completely making things up for other reasons. Unfounded statements like these are all too common on this forum.
I agree with you. Let him (them) be - if someone leaves a broker because some guy somewhere said something, so be it. MBT do have certain issues, but they seem to be solving them. How soon and how effectively - we'll see.

If one's trading suffers because of MBT, there are plenty of other brokers around. But there will always be plenty of people who complain just for the sake of it.
One Chart is Worth Ten Thousand Words.
  • #8,968
  • Feb 8, 2012 8:55pm Feb 8, 2012 8:55pm
I admit it's harsh, and the word"a lot of" is exaggerated. But I simply wish MBT do better and stronger, as it also align my interest as his business patner. MBT guys should know what I mean "execution quality" during very volatile times, especially for SL orders, and several cliens are leaving simply because of this . I don't want to go detail here, coz it's not my interest to exposure the specific information to public.

sometimes, I have to made this posts to keep MBT on toe. tough love, you may say.

The only problem MBT currently have is“execution quality”during volatile market.
  • #8,969
  • Feb 9, 2012 4:09am Feb 9, 2012 4:09am
Quoting aizirui
sometimes, I have to made this posts to keep MBT on toe. tough love, you may say.
No, that's called something else. Here's a mild version of what I have in mind

http://www.amazon.co.uk/Thick-Face-B...8782137&sr=1-3
One Chart is Worth Ten Thousand Words.
  • #8,970
  • Feb 9, 2012 9:37am Feb 9, 2012 9:37am
Quoting aizirui
sometimes, I have to made this posts to keep MBT on toe. tough love, you may say.
"Sometimes" meaning you've done it before? Because this is now your third post, so you do this under other names?
  • #8,971
  • Feb 9, 2012 10:23am Feb 9, 2012 10:23am
Justin is true that from march you'll start to apply fee for high frequency traders?
  • #8,972
  • Feb 9, 2012 12:08pm Feb 9, 2012 12:08pm
Justin

How do I trade Futures with MBT when based in the UK? According to your US web customer service they aren't able to take UK accounts - and the UK website doesn't offer anything but Forex.

Thanks
Rob
  • #8,973
  • Feb 9, 2012 12:15pm Feb 9, 2012 12:15pm
Quoting signorx
Justin is true that from march you'll start to apply fee for high frequency traders?
Signorx,

That is correct. The service charge is for clients engaging in ultra-high frequency FX trading, which results in a high number of order message requests with minimal trade executions. However, it is important to note, this is an NFA fee associated with trade reporting cost, not an MBT fee and we are merely passing it through.

The high frequency message fee only applies to clients who have less than 10% executions of the total messages sent and further that send in excess of 100 requests per symbol per day. These requests include: New, cancel, and change/replace order messages. This new fee is .005 per request sent that day on symbols meeting the high frequency message criteria.

Basically, for every 200 messages, you'll be charged a $1.00.
  • #8,974
  • Feb 9, 2012 12:53pm Feb 9, 2012 12:53pm
Thanks,

Up to now in mbt desktop pro only number of trade and cancel order are show, with this new rule should be useful to se also number of change/replace order and if possible the actual ratio between executed order vs total messages sent, should be possible a fast platform upgrade? Actually i have a ratio of 2:1 between executed order and cancel order but i do a lot of change order and i can't estimate the exact number. Also in statement now should be added a voice to show total message sent to MBT.

Thank you!

Quoting jleblang
Signorx,

That is correct. The service charge is for clients engaging in ultra-high frequency FX trading, which results in a high number of order message requests with minimal trade executions. However, it is important to note, this is an NFA fee associated with trade reporting cost, not an MBT fee and we are merely passing it through.

The high frequency message fee only applies to clients who have less than 10% executions of the total messages sent and further that send in excess of 100 requests per symbol per day. These requests include:...
  • #8,975
  • Feb 9, 2012 1:28pm Feb 9, 2012 1:28pm
Quoting jleblang
This new fee is .005 per request
Hello Justin, could you please expand on the mathematics behind the 0.005 figure?
As far as i can tell the NFA is assessing a fee of 0.002 per "order segment", not 0.005.
Or is the fee you mentioned some different kind of NFA fee?

Quote
NFA will assess FDMs a fee of .002 on all order segments processed through NFA's Forex Transaction Reporting Execution Surveillance System (FORTRESS).
An "order segment" is a record of any line of data associated with an order. Each of these is a separate segment: (1) an order is added, (2) an order is modified, (3) an order is cancelled or filled. In addition, any unfilled open orders that are carried over by the system are considered a new order segment the next day.
source: http://www.nfa.futures.org/news/news...ArticleID=3922

thank you
I'm not insane; my mother had me tested.
  • #8,976
  • Feb 9, 2012 1:48pm Feb 9, 2012 1:48pm
Quoting signorx
Thanks,

Up to now in mbt desktop pro only number of trade and cancel order are show, with this new rule should be useful to se also number of change/replace order and if possible the actual ratio between executed order vs total messages sent, should be possible a fast platform upgrade? Actually i have a ratio of 2:1 between executed order and cancel order but i do a lot of change order and i can't estimate the exact number. Also in statement now should be added a voice to show total message sent to MBT.

Thank you!
This is a good suggestion... It can't hurt to know where one stands at any point in the day.

I would encourage you to request this in the Idea Exchange, where it will be read, considered, voted upon by other customers and quickly implemented if approved.

The idea exchange is one of MB Trading's strong points, but it is under used by us customers. Check it out.... you'll like it.
  • #8,977
  • Feb 9, 2012 8:39pm Feb 9, 2012 8:39pm
Quoting Jolly Jumper
I have two questions that I hope someone could answer for me about MB-trading.

Also I would like to know if funds are insured with MB-trading in case of a bankruptcy.
No, you are NOT covered in the event of a Bankruptcy by MB Trading. Despite the Large-Safe-with-Chains image on the "Security" section of their website. The account signup form, in the small print, states that Forex Client funds would be directly at risk. I checked with the sales support staff. Equity accounts are protected by SIPP, but not by MBT. And, after the MF Global disaster, we can see how well even that government protection works.

So, NO PROTECTION. MBT has no other insurance and does NOT segregate their client funds. I asked. Not Good.
  • #8,978
  • Feb 10, 2012 3:55am Feb 10, 2012 3:55am
Thats the case with all american FX brokers, not only MBT. Except those with bank status like Citi, and maybe broker-dealers like Interactive Brokers who sweep excess funds into a security/SPIC account overnight (but that wouldnt cover open positions or cash in a commodities account).
  • #8,979
  • Edited 7:29am Feb 10, 2012 7:26am | Edited 7:29am
  •  ilove
  • | Joined Dec 2011 | Status: because he first loved us. | 52 Posts
Unable to modify existing positions since 15 minutes ago.

Error msg: Trade context is busy

Live Free EXN account.


Update:
Working now after close and start MT4. Strange.
If you can't tell, just wait. The market will.
  • #8,980
  • Feb 10, 2012 7:42am Feb 10, 2012 7:42am
Quoting ilove
Unable to modify existing positions since 15 minutes ago.

Error msg: Trade context is busy

Live Free EXN account.


Update:
Working now after close and start MT4. Strange.
Trade context busy is a very common MT4 issue, nothing to do with the broker. It occurs when two trades are placed at the same time
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