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MB Trading Futures - Introduction

  • #9,081
  • Mar 1, 2012 6:39pm Mar 1, 2012 6:39pm
Quoting QuadrupleX
6:47 pm here and I still can't trade on their darn demo account. I guess I will have to call tech support.
After a while with tech support I was able to connect, I had to change my server etc.

Now I realized that I can ONLY trade from metatrader which sucks. So I opened a order on metatrader and it does not reflect on my dashboard when I log in on MB.

Jleblang told me that metatrader is just a shell for their own platform so why tha heck they can't offer the choice of trading from their own dashboard?

Well I'm done with these people for now. I was thinking about opening a small account with them to test their performance but I don't think it is worth the troubles.

I'm gonna wait until MB matures a little and than maybe I will do business with them.
  • #9,082
  • Mar 1, 2012 7:01pm Mar 1, 2012 7:01pm
Quoting QuadrupleX
After a while with tech support I was able to connect, I had to change my server etc.

Now I realized that I can ONLY trade from metatrader which sucks. So I opened a order on metatrader and it does not reflect on my dashboard when I log in on MB.

Jleblang told me that metatrader is just a shell for their own platform so why tha heck they can't offer the choice of trading from their own dashboard?

Well I'm done with these people for now. I was thinking about opening a small account with them to test their performance but I don't think it...
LOL. MB has been around for 10 years. I'm pretty sure they are mature. Everything you described suggests you didn't read (first didn't know that you had to wait until 5 pm EST, then didn't know that you had to point MT4 to the correct server, all of which is given to you when you sign up).

Just to clarify the rest. Your trades are in the dashboard in the website for MT4 as well. The only thing you CAN'T do with an MT4 account is log into their regular trading platform and place trades. The reason is that MT4 has 4 order types and their platform has 28, and that creates incompatibilities where MT4 wouldn't know what to do when other order types are in action.

Seems to me like you're just making up excuses.

PS Their own platform is much better for order control, but if you are more interested in the FREE EXN pricing model, then you have to use MT4, as has been documented as recently as yesterday on this thread, at least for now. I have spoken to support and they are working on integrating that into their regular software as well. If you want better order control, a better platform (MT4 sucks in general unless you have specific needs), and the ability to trade from their website, mobile apps, web-app, or their main software, open a regular account instead of the MT4 junk.
  • #9,083
  • Mar 1, 2012 7:21pm Mar 1, 2012 7:21pm
Quoting IndyTrader
LOL. MB has been around for 10 years. I'm pretty sure they are mature. Everything you described suggests you didn't read (first didn't know that you had to wait until 5 pm EST, then didn't know that you had to point MT4 to the correct server, all of which is given to you when you sign up).

Just to clarify the rest. Your trades are in the dashboard in the website for MT4 as well. The only thing you CAN'T do with an MT4 account is log into their regular trading platform and place trades. The reason is that MT4 has 4 order types and their platform...
So, do you call "mature" a company that owns a more robust proprietary platform but decides to stick with metatrader? Buggy metatrader.

Do you call "mature" a company that requires 24 hours for a demo account?


I think they are going ahead of themselves and spiting products on the market that should be in beta test.

they came up with their pay per limit now the free exn and they are proving that they can't keep up with it.

I'm gonna wait until they "mature" their products before I give them any money.


Oh and by the way if I put in writing that I'm willing to make you wait for ever does it make less of a bother?
  • #9,084
  • Mar 1, 2012 7:36pm Mar 1, 2012 7:36pm
Quoting QuadrupleX
So, do you call "mature" a company that owns a more robust proprietary platform but decides to stick with metatrader? Buggy metatrader.

Do you call "mature" a company that requires 24 hours for a demo account?


I think they are going ahead of themselves and spiting products on the market that should be in beta test.

they came up with their pay per limit now the free exn and they are proving that they can't keep up with it.

I'm gonna wait until they "mature" their products before I give them any money.


Oh and by the way if...
I call "mature" a company that basically made the industry turn away from the deal desk (them along with Hotspot) and brought the concept of ECN and transparent posting to FOREX. I was around trading it with them when that happened, which it seems you were not if you are just looking at them for the first time, and I can assure you that they pivoted this entire industry when they did it.

I call "mature" a company that has been regulated by SEC, FINRA, NFA, and more for a decade and met every criteria along the way.

I call "mature" (even if I don't personally like the MT4 software) a company that recognizes that 80% of the industry uses the stupid thing and finds a way to connect it to their superb execution and takes the deal desk out of it, because I know plenty of people that have been down the "MT4 deal desk" road and it didn't end well, even if it seemed fine for a while.

I call "mature" a company that provides the educational training that they do about their products weekly.

I call "mature" a company that has a hundred third party products that plug into it.

I call "mature" a company that provides a robust open API/SDK that basically gives you ground-level control to write your own "whatever you want" to them.

I call "mature" a company that is constantly trying to offer traders MORE, not less, and analyzes what they see in the industry and creates something new (a la FREE EXN plan).

I call "mature" a company that gives me 28 order types so that I have complete control of my trades and don't have to rely on the deal desk shenanigans that come with being limited to stops, markets, and limits if I step away from my software during a 24 hour market.

What I don't call mature is when someone didn't read the screen when they signed up that told them which server they had to point the software to for their account and acted like this was the broker's fault. I don't care if you use MB, they probably don't care if you use them, but the excuses that you have thrown up as to your reasons why are just silly.

First you claim you "knew" that you wouldn't be able to trade until 5 pm EST, but you still complained here as if you didn't know.

Then you complained that you still couldn't trade, when you were logging into the wrong server per their instructions.

You even implied that you didn't even like MT4...then WHY did you take an MT4 Demo?

All seems very contrived.
  • #9,085
  • Mar 1, 2012 7:59pm Mar 1, 2012 7:59pm
Quoting IndyTrader
I call "mature" a company that basically made the industry turn away from the deal desk (them along with Hotspot) and brought the concept of ECN and transparent posting to FOREX. I was around trading it with them when that happened, which it seems you were not if you are just looking at them for the first time, and I can assure you that they pivoted this entire industry when they did it.

I call "mature" a company that has been regulated by SEC, FINRA, NFA, and more for a decade and met every criteria along the way.

I call "mature" (even...
Is English your native language Indy?

Are you confusing the meaning of "mature" with some other word like innovative, ingenious etc? I'm not from here and I know the difference.

If you need a whole bunch of @$%# as you pointed above fine I just need a decent spread and no disconnections. Thats all I need to make money.

Why they have to force you to use metatrader? It makes them look even more silly based in the fact they already have a good platform.


My 9 year old son saw me dealing with metatrader and asked me:

Hey daddy are you back dealing with this buggy app?

LOL! I guess my nine year old is more MATURE than a 10 year old MB trading.

Oh, and let me ask you again. If I put a 24 hour waiting in writing it makes it less of a bother?
  • #9,086
  • Mar 1, 2012 8:30pm Mar 1, 2012 8:30pm
Quoting QuadrupleX
Why they have to force you to use metatrader? It makes them look even more silly based in the fact they already have a good platform.
No one is forcing you to use MT4. I happen to have some MT4 accounts with them, but it certainly isn't my preferred option. Show me where they told you you had to use MT4 if you preferred to use what you said is "already a good platform."

Quoting QuadrupleX
My 9 year old son saw me dealing with metatrader and asked me:

Hey daddy are you back dealing with this buggy app?

LOL! I guess my nine year old is more MATURE than a 10 year old MB trading.
Sounds like he'll have the same issues as you.

Quoting QuadrupleX
Oh, and let me ask you again. If I put a 24 hour waiting in writing it makes it less of a bother?
I must be missing something there. Don't get the point. Is the point that the platform must not have the good spreads and executions that you say are all that matters because your account has to be set up inside of a day?

I'm done, waste of typing. Good luck.
  • #9,087
  • Mar 1, 2012 8:36pm Mar 1, 2012 8:36pm
Quoting QuadrupleX
Is English your native language Indy?

Are you confusing the meaning of "mature" with some other word like innovative, ingenious etc? I'm not from here and I know the difference.

If you need a whole bunch of @$%# as you pointed above fine I just need a decent spread and no disconnections. Thats all I need to make money.

Why they have to force you to use metatrader? It makes them look even more silly based in the fact they already have a good platform.


My 9 year old son saw me dealing with metatrader and asked me:

Hey daddy are you back...
OK kids (both of you), time to move on. QuadrupleX, it's clear that you were never seriously interested based on your stated reasons (all nonsense, most of them your own doing). Take it to a thread where you are. For someone that just cares about spreads and execution (not platforms or anything else), you sure don't seem to want to find out if MB is the best out there at that for you, so you'll never know. Not the end of the world. When you can make it a whole 18 hours to test out a platform, you come back and let us know. Oh wait, you're already passed the 18 hours and still don't care. Not that demo trading would give you examples of real execution speed anyway. I would think you would know that.
  • #9,088
  • Mar 1, 2012 10:35pm Mar 1, 2012 10:35pm
Quoting IndyTrader

I'm done, waste of typing. Good luck.
Everyone should follow your lead, I could tell from the first post nothing would satisfy this guy. Must be nearing a full moon as all the whiners and criers are out tonight.

Thanks to Justin and MBT as they are the most MATURE, organized, professional broker to date. Those that don't see it, will never see it.

I too am out until the trolls are vanquished.

BroncoCap
  • #9,089
  • Mar 2, 2012 1:11am Mar 2, 2012 1:11am
Quoting IndyTrader
Just to clarify the rest. Your trades are in the dashboard in the website for MT4 as well. The only thing you CAN'T do with an MT4 account is log into their regular trading platform and place trades. The reason is that MT4 has 4 order types and their platform has 28, and that creates incompatibilities where MT4 wouldn't know what to do when other order types are in action.
I have MT4 Free EXN account (demo) and I'm able to place trades through the Desktop (admittedly mkts and lmts only, but it's probably due to MT4 narrow set of orders), which are automatically reflected on both platforms. Desktop allows partial closing, so it happens that I have a hedged position in MT4, which is generally prohibited...
"hey hey what can I do"
  • #9,090
  • Mar 2, 2012 2:16am Mar 2, 2012 2:16am
I post this for my friend, aka newtradercn, because he "is suspended by senior member". He want to reply the following to Justin,

=================================================

Hello Justin,



I bring this case public, coz I want to figure it out completely.

I admit desktop figure should be correct, but why MT4 are so much "out of sync" with Desktop time to time, this is my point. I am manual trader, and only trade 0.1 lots everytime, It's hard to explain why have such huge "balance discrepency", considering 3 causes: average price, rollover, split fill.

The attached are the pics show -$214 and -$53 "balance correction".


Btw, thanks for your concern but I wish you could speak it publicly. It could be another educational post, and I am sure many many clients encounter such issue like me.

regards,

newtradercn
Attached Image(s) (click to enlarge)
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  • #9,091
  • Mar 2, 2012 2:25am Mar 2, 2012 2:25am
Quoting Zkf
I post this for my friend, aka newtradercn, because he "is suspended by senior member". He want to reply the following to Justin,

=================================================

Hello Justin,



I bring this case public, coz I want to figure it out completely.

I admit desktop figure should be correct, but why MT4 are so much "out of sync" with Desktop time to time, this is my point. I am manual trader, and only trade 0.1 lots everytime, It's hard to explain why have such huge "balance discrepency", considering 3 causes: average...
This is covered in their site. You don't actualy lose money, once your full position is closed, you will get most/some of it back.

http://mbtrading.com/forexMT4FAQ.aspx
"Everyone gets what they want out of the market." -- Ed Seykota
  • #9,092
  • Mar 2, 2012 2:28am Mar 2, 2012 2:28am
Quoting V4X
This is covered in their site. You don't actualy lose money, once your full position is closed, you will get most/some of it back.

http://mbtrading.com/forexMT4FAQ.aspx
could you give a example, how "get most/some of it back"? We have looked at the faq, but still don't understand. Could you enlighten us?

just a plain example, and more details please.
  • #9,093
  • Mar 2, 2012 9:15am Mar 2, 2012 9:15am
Quoting Zkf
I post this for my friend, aka newtradercn, because he "is suspended by senior member". He want to reply the following to Justin,

=================================================

Hello Justin,



I bring this case public, coz I want to figure it out completely.

I admit desktop figure should be correct, but why MT4 are so much "out of sync" with Desktop time to time, this is my point. I am manual trader, and only trade 0.1 lots everytime, It's hard to explain why have such huge "balance discrepency", considering 3 causes: average...

Zkf,

Please have him email me directly at [email protected] and we will discuss. I had the posts removed because he wasn’t explaining the issue properly. Account balance adjustments are not the root cause of the problem, but I cannot talk about his situation publicly as it is a private account matter. Also, please let him know that for security purposes, he should NEVER post his account number on a public forum. I had asked him to contact me directly with his account number and he didn’t. But then he posted here on the forum a chat with our rep (which is also not allowed for privacy reasons) which INCLUDED his account number (not a good idea). Anyway, from that, I was able to look him up and I have found the problem, but he is not relaying the case to our reps and should have seen the issue himself. He should email me and we will resolve his situation.
  • #9,094
  • Mar 2, 2012 9:22am Mar 2, 2012 9:22am
Quoting Zkf
could you give a example, how "get most/some of it back"? We have looked at the faq, but still don't understand. Could you enlighten us?

just a plain example, and more details please.

Zkf,

Just to respond about Account Balance Adjustments in MT4, as the information that another member referenced isn’t correct, you only get them when you are flat as that is the only time that we can see if your actual account (which is based on the required FIFO-based accounting) and MT4 (which is NOT FIFO-based) are the same or different. So there is no “get most/some of it back” as you are flat at the time. You get a credit deposit or debit withdrawal in MT4 to make the two sides match because FIFO accounting is required by NFA. However, it is true that while you have positions in MT4, depending on the other in which you close them, it is possible that your account balance will differ from the actual account and then come back to equal it by the time you get flat. I think that’s what the other member was referring to. However, that has nothing to do with your friend’s situation.
  • #9,095
  • Mar 4, 2012 6:36am Mar 4, 2012 6:36am
Please, confirme to me. I had U$60,00 dollars in MBtrading(Uk account). I do not get open a order, I am trying with a 0.01lot. Why I cant it?

Thanks,

  • #9,096
  • Mar 4, 2012 9:01am Mar 4, 2012 9:01am
Quoting astom
Please, confirme to me. I had U$60,00 dollars in MBtrading(Uk account). I do not get open a order, I am trying with a 0.01lot. Why I cant it?

Thanks,

Minimum trade size is 0.1 Lots (1K).
  • #9,097
  • Mar 4, 2012 12:31pm Mar 4, 2012 12:31pm
Yes, sorry, some times I am confused because U$0.10/pip, in most broker, is 0.01lot.

whatever, I dont understand yet, why I cant open a trader if the pip is U$0.10.

Thanks, Rooicol.
  • #9,098
  • Mar 4, 2012 8:10pm Mar 4, 2012 8:10pm
Quoting astom
Yes, sorry, some times I am confused because U$0.10/pip, in most broker, is 0.01lot.

whatever, I dont understand yet, why I cant open a trader if the pip is U$0.10.

Thanks, Rooicol.
Minimum account balance to run a trade = $100.
  • #9,099
  • Mar 5, 2012 7:08am Mar 5, 2012 7:08am
Quoting roldreth
... it happens that I have a hedged position in MT4, which is generally prohibited...
checked it couple of times again and really have no idea how it was possible to have long and short trade open at the same time, but placing mkts and lmts orders through the deskop on mt4 free exn account (demo actually) and partial closing is still possible
"hey hey what can I do"
  • #9,100
  • Mar 5, 2012 9:07pm Mar 5, 2012 9:07pm
This is how you handle client's question?

From your guys's email,

Quote
The execution and FIFO accounting as required by the NFA are handled via our Desktop Platforms. In some cases, when Desktop and MetaTrader 4 balances differ, those differences are corrected with a deposit or withdrawal that reads "account balance correction."

We highly recommend that you log into MBT Desktop or MBT Desktop Pro at the same time you are logged into MetaTrader 4. MetaTrader 4 is simply an interface that we enable for MetaTrader 4 accounts to allow you to trade. You cannot trade from the Desktop or Desktop Pro software with your...


so What's the difference? You said"However, that has nothing to do with your friend’s situation."

Really disappointed with your PR and customer services. First, suspend's client ID here, then just fool around.

Do your guys have courage to tell all the users here, why FIFO would make the balance different when all the open positions closed, or what's my friend unique situation here. Then we will shut up.
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