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  • #9,061
  • Feb 29, 2012 12:44pm Feb 29, 2012 12:44pm
Quoting jleblang
Broncocap,

Again, I think I’ve explained it as best I can. These are two different models. The FREE EXN model has less banks, but they are largely the bigger banks that we have worked with over the years (also the ones that have had the least problems with us in terms of execution speed and connectivity). I can’t get too specific here, but let me give you a general example.
Just thought to say Hello Justin
No a good follower the thread because Have no time and Have no problem
Thanks for your continues Effort here
  • #9,062
  • Feb 29, 2012 12:51pm Feb 29, 2012 12:51pm
Quoting rooicol
I think the spread difference between the two accounts is very small. Take yesterday's EURUSD London session for example in the image below.

As you can see, the PFL has a slightly higher mean, but more frequently has spreads in the range 0.0-0.4. Is this a result of more client limit orders on the PFL plan...? I'd thought client limit orders would be available for all other MBT clients, not just clients on the same plan...?

Rooicol,

This is good work. I would agree that the differences are minor, probably favoring the FREE EXN plan overall, but then again, if someone uses a lot of Limit orders, the PFL plan probably wins out because of the payment. The raw spreads probably net out slightly better on FREE EXN.

We do have more customers currently on the PFL plan because it has been around for years and also probably slightly because we take accounts in both MT4 and Desktop/Pro for it, whereas FREE EXN is only a couple of months old and currently MT4 only. There is NO crossover between limit orders on the two plans as the commission models are totally different (i.e. we can’t allow someone on PFL plan to post a Limit order and then use his own FREE EXN account to hit that limit and get paid for it).

The key is that our EXN technology is used on both plans, but again, separately. It is a key technology piece.
  • #9,063
  • Feb 29, 2012 12:52pm Feb 29, 2012 12:52pm
Quoting egkid
Just thought to say Hello Justin
No a good follower the thread because Have no time and Have no problem
Thanks for your continues Effort here
Thank you, I appreciate it.
  • #9,064
  • Edited 5:36pm Feb 29, 2012 1:15pm | Edited 5:36pm
Quoting BroncoCap
Again Justin, your time and energy expended sharing such information is very much appreciated.

The insight not only into MBT's motivations, but the motivation of your LP's is eye-opening. The difference between inclusivity and exclusivity is most interesting. Where most brokers (and traders) think more LP's is better, MBT is proving that cherry picking the best of the best may actually be preferred. Interesting...Kudos to you and MBT for breaking out of the stereotypical mold of what a broker should do.

No need to spend more time on my...

Broncocap,

I wouldn’t assume that less LPs are better (or worse). Keep in mind that there are plenty of “brokers” that call themselves “ECN” but have only ONE LP, and that’s because they route all orders to that LP, so executions can be fast, but obviously, you give a lot of power to that LP when you do that. I’m just saying that there are different ways to approach this industry, and we’ve been around a long time trying to innovate in various ways for the trader. Every brokers execution and spreads are a function of different balances between true competitiveness, costs, and speed. Most of the time, what the average trader thinks about how things work can be turned on its head in some form.
  • #9,065
  • Mar 1, 2012 12:06am Mar 1, 2012 12:06am
I'm usually very skeptical about brokers maybe because I started with oanda and traded with them for so long.

I finally moved to IB several months ago and the difference is like from hell to heaven.

Now I have to say that MB is really tempting me to change my broker again.

My only concern is platform instability, the main reason I left oanda. IB is more on the expensive side but their platform is rock solid.

Thats the only reason why I don't get the phone right now and ask for a complete fund withdrawal
  • #9,066
  • Mar 1, 2012 4:43am Mar 1, 2012 4:43am
Hello Justin,

first my apology for asking at all, because probably the question was already answered somewhere sometime but unfortunately I missed it.
So, practical question:
Is it possible for mbt client to switch from one plan to the other?
Or do I have to open a new account for another plan?
Thanks for you patience...
  • #9,067
  • Mar 1, 2012 4:55am Mar 1, 2012 4:55am
OK,

I am now getting tired of playing the waiting game with you and will likely switch to other broker once my long positions reach appropriate status. It's damaging our business.

You don't respect international customers at all with the 1k USD deposit CC limits, that were introduced few months ago.

I contacted MBT on January and you said that in February it is likely to be fixed. Called you but it's March now and I am stuck with same old excuses.

We can't wire money for one account because it's company's bank account, you don't allow us to use joint account as Company + Individual, so we are left with the CC deposits.

If you seriously think that we will wait 2-5 years to deposit the amount then you are very wrong.
"Everyone gets what they want out of the market." -- Ed Seykota
  • #9,068
  • Mar 1, 2012 8:44am Mar 1, 2012 8:44am
Quoting JanPoko
Hello Justin,

first my apology for asking at all, because probably the question was already answered somewhere sometime but unfortunately I missed it.
So, practical question:
Is it possible for mbt client to switch from one plan to the other?
Or do I have to open a new account for another plan?
Thanks for you patience...
JanPoko,

At this time, the accounts cannot be switched (unlike our stock accounts, where you can switch commission plans once per month). The issue is that they are on completely different servers.

Sorry for now, we’ll see what the future brings.
  • #9,069
  • Mar 1, 2012 9:04am Mar 1, 2012 9:04am
Quoting JanPoko
Hello Justin,

first my apology for asking at all, because probably the question was already answered somewhere sometime but unfortunately I missed it.
So, practical question:
Is it possible for mbt client to switch from one plan to the other?
Or do I have to open a new account for another plan?
Thanks for you patience...
You can have two accounts though, when you want to enter a trade with a limit order, use PFL account, when you want to enter with market order, use free exn account
  • #9,070
  • Mar 1, 2012 11:59am Mar 1, 2012 11:59am
Quoting V4X
OK,

I am now getting tired of playing the waiting game with you and will likely switch to other broker once my long positions reach appropriate status. It's damaging our business.

You don't respect international customers at all with the 1k USD deposit CC limits, that were introduced few months ago.

I contacted MBT on January and you said that in February it is likely to be fixed. Called you but it's March now and I am stuck with same old excuses.

We can't wire money for one account because it's company's bank account, you don't allow...
See, thats what puzzles me.

JLeblang comes here and post stuff that really makes sense, MB on the paper seems really good which makes me wonder if V4X and others that come here with some crazy complaints are just fake members doing damaging control for brokers like oanda.

Well,in behalf of the complainers I opened a demo account yesterday and so far their metatrader do not update and I still can't demo trade from their web app. IMHO thats a lot of bureaucracy for a demo.

I'm sticking with my current broker for now, at least until MB correct these kind of silly bugs.

I will keep following this thread.
  • #9,071
  • Mar 1, 2012 1:46pm Mar 1, 2012 1:46pm
Quoting QuadrupleX
See, thats what puzzles me.

JLeblang comes here and post stuff that really makes sense, MB on the paper seems really good which makes me wonder if V4X and others that come here with some crazy complaints are just fake members doing damaging control for brokers like oanda.

Well,in behalf of the complainers I opened a demo account yesterday and so far their metatrader do not update and I still can't demo trade from their web app. IMHO thats a lot of bureaucracy for a demo.

I'm sticking with my current broker for now, at least until MB correct...
You are more likely correct on the first part of your post. As for the second part, did you read the screen when you opened your demo? There is a message that pops up (along with an email that you get) that specifically states that the demo account will not be active until after the next 5 pm EST rollover. So you have about 2 hours and 15 minutes from now to wait and it should work. I have 6 demos with them for various EAs, the instructions are very clear when you register for it, and they always work fine after the next 5 pm EST.

I don't think there are many problems with MBT. I think there are two things.

1) Like you said, other brokers trying to put doubt in people's minds.

2) People that don't read the information given and complain.

I have live FREE EXN account now for almost two months, it works flawless, spreads are unreal, and the speed of execution is great.
  • #9,072
  • Mar 1, 2012 1:55pm Mar 1, 2012 1:55pm
Quoting fxstevyboy
You are more likely correct on the first part of your post. As for the second part, did you read the screen when you opened your demo? There is a message that pops up (along with an email that you get) that specifically states that the demo account will not be active until after the next 5 pm EST rollover. So you have about 2 hours and 15 minutes from now to wait and it should work. I have 6 demos with them for various EAs, the instructions are very clear when you register for it, and they always work fine after the next 5 pm EST.

I don't think...
Yes I did read it. And let me say again that to have to wait so long for a frigging demo account is just silly.

Oh, and spreads are not unreal. They are good but not unreal compared with low spread brokers out there.
  • #9,073
  • Mar 1, 2012 2:02pm Mar 1, 2012 2:02pm
Quoting QuadrupleX
Yes I did read it. And let me say again that to have to wait so long for a frigging demo account is just silly.

Oh, and spreads are not unreal. They are good but not unreal compared with low spread brokers out there.
Did you do FREE EXN or PFL?
  • #9,074
  • Mar 1, 2012 2:05pm Mar 1, 2012 2:05pm
Quoting IndyTrader
Did you do FREE EXN or PFL?
I'm a hands on trader limit orders do not interest me, I'm "trying" to test their free exn model.
  • #9,075
  • Mar 1, 2012 2:33pm Mar 1, 2012 2:33pm
Quoting QuadrupleX
See, thats what puzzles me.

JLeblang comes here and post stuff that really makes sense, MB on the paper seems really good which makes me wonder if V4X and others that come here with some crazy complaints are just fake members doing damaging control for brokers like oanda.

Well,in behalf of the complainers I opened a demo account yesterday and so far their metatrader do not update and I still can't demo trade from their web app. IMHO thats a lot of bureaucracy for a demo.

I'm sticking with my current broker for now, at least until MB correct...
QuadrupleX,

MT4 Demo accounts become active after 5 pm EST after you create them. They are immediately sent into the MT4 server, but they also have to be added for the underlying account into our Desktop Demo system for back office and trading purposes. This process occurs at 5 pm EST. It is not a bug, it is simply how the procedure works, and there are messages on the screen and in the email that you receive when you create the Demo that specify this. Having said that, we are in the process of altering the process so that these accounts can be inserted intraday, which will allow them to be tradeable the minute that they are created. It is not a small process to make this changes and we have been taking steps throughout our back end for months in preparation for this. I have actually been told that it should become live within the next couple of weeks.

As for now, you should be able to trade after today’s 5 PM EST rollover.
  • #9,076
  • Mar 1, 2012 2:35pm Mar 1, 2012 2:35pm
Quoting fxstevyboy
You are more likely correct on the first part of your post. As for the second part, did you read the screen when you opened your demo? There is a message that pops up (along with an email that you get) that specifically states that the demo account will not be active until after the next 5 pm EST rollover. So you have about 2 hours and 15 minutes from now to wait and it should work. I have 6 demos with them for various EAs, the instructions are very clear when you register for it, and they always work fine after the next 5 pm EST.

I don't think...
FXStevyboy,

Thanks for that, I didn’t notice you wrote that until I replied. Glad you are enjoying your FREE EXN account!
  • #9,077
  • Mar 1, 2012 2:39pm Mar 1, 2012 2:39pm
Quoting V4X
OK,

I am now getting tired of playing the waiting game with you and will likely switch to other broker once my long positions reach appropriate status. It's damaging our business.

You don't respect international customers at all with the 1k USD deposit CC limits, that were introduced few months ago.

I contacted MBT on January and you said that in February it is likely to be fixed. Called you but it's March now and I am stuck with same old excuses.

We can't wire money for one account because it's company's bank account, you don't allow...
V4X,

I’m sorry to hear your frustrations. The credit card company is very challenging to work with in their requirements. We are engaging another company that will be more flexible to the benefit of both you and MBT. This takes a little time unfortunately since it’s not up to MBT but we are making progress and will get it complete as soon as humanly possible. I can assure you, we are not in business to turn away business.
  • #9,078
  • Mar 1, 2012 2:41pm Mar 1, 2012 2:41pm
Quoting QuadrupleX
Yes I did read it. And let me say again that to have to wait so long for a frigging demo account is just silly.

Oh, and spreads are not unreal. They are good but not unreal compared with low spread brokers out there.
QuadrupleX,

See my prior response. Again, remember that MT4 is a SHELL layered upon your actual account. It isn’t our software, it is separate software. The account has to be created at both sides because trading does not occur at the MT4 level.
  • #9,079
  • Mar 1, 2012 3:53pm Mar 1, 2012 3:53pm
Quoting jleblang
QuadrupleX,

MT4 Demo accounts become active after 5 pm EST after you create them. They are immediately sent into the MT4 server, but they also have to be added for the underlying account into our Desktop Demo system for back office and trading purposes. This process occurs at 5 pm EST. It is not a bug, it is simply how the procedure works, and there are messages on the screen and in the email that you receive when you create the Demo that specify this. Having said that, we are in the process of altering the process so that these accounts can...
Glad to see that you guys are working on it. Independent of being a big or mall task for you guys to tackle, waiting 24 hours for a demo is a bug, and it generates a bad fist experience with MB trading.

I don't really care about metatrader or whatever else, I just want peace of mind while trading

Anyways I will probably open a small account with you guys so I can test your execution time and platform stability. Posts here are a little misleading because you never know who is trying to pump or dump.

Thanks for the answers.
  • #9,080
  • Mar 1, 2012 5:49pm Mar 1, 2012 5:49pm
6:47 pm here and I still can't trade on their darn demo account. I guess I will have to call tech support.
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