How good is MBT MT4 platform?

Any major issues ?

I have only demoed it but the deal is this.

MT4 is a Market maker software and runs best with the setup of a dealing desk to> MT4 > Client (you).

MBT is an ECN and to run MT$ multiple changes had to be made for it to run correctly.

From the demo it seemed to work ok, but unless you are using EA's I see absolutely no reason to trade using MT4 other than it's simplicity and even at that there are extra steps to place fast orders in and out.

Why not just trade with their prop software for execution and position management and use MT4 for your charting or whatever you want it for.

Unless of course you are running ea-s.

Just my two cents.

Well, it is a EA...

Simple answer. MT4 is old, outdated software. Like the other poster said, unless you are using an EA, no reason to use MT4, you are just asking for trouble.

I have MT4 and non-MT4 accounts with MB. Very fast execution, good spreads, very few issues over 6 years. You really can't beat them.

I would say the only reason to use MT4 is because it is free ... you can also run your automated strategies on the more advanced platforms - but of course this would require some reprogramming.

Afaik on their free exn they do not allow trading by other means than by mt4, so there is no choice, is there? Why do they not change their policy?

The MT4 account is about as reliable as the non-MT4 account ?

I would tell you just to read through the MB forum and you will get your answer but unfortunately the mods delete most of the posts against their paying advertisers.

MB advertises here on FF so anything you point against them will be deleted.

Keep on eye on their thread, you may catch some posts about their plethora of bugs before the post gets deleted.

I have been using MT4 with my free exn account with MB. It has only been a few months, but so far, no issues.

Hello
I'm looking for a broker/platform for a small micro account like $500.
I am now demoing MT4 but i cant set pivot points.
Anyone know how i can do this?
Or anyone knows wich is a good broker for such a small account?

Anecdotal contribution:

I've been using MB's MT4 for several months now.

As another poster has mentioned above, there have been small bugs related to the platform, although infrequent.

However MB has managed to address each issue very quickly, at least in my case. As it hasn't seriously disrupted any of my trading, I don't have any complaints or bones to pick in this regard (other than perhaps the inconvenience of a few minutes with support).

I run several EA's quite smoothly on the platform, using several timeframes. Spreads and execution have been consistent with MB's primary platform.

If we're considering the marriage of MT4 and an EC(X)N an experiment (or a Frankenstein's monster, depending on your own views), then the experience here seems to be improving.

As a trader considering using MB's MT4, I would suggest being prepared for a minimal time investment vis-a-vis the occurrence of any further technical issues. Beyond this there's the very nice spreads, execution and a broker interested in continuing to improve their platforms.

I've worked with more stable MT4's, but am quite happy with MB's at this time.

Having only used one other broker, I am quite pleased with MB for a small/micro account. Issues are seldom and if it does happen, always fixed right away. They're willing to help make improvements. I'm working on getting you info on the pivot points.

I have an account with MBT, FXCM, and Forex.com.As far as brokers MBT is the best, I like FXCM's TradingStation II platform the best of all three non MT4 platforms. I do not like MT4 at all, and am thinking about two other options. Either going with Tradestation or purchasing Ninjatrader and running it through MBT.

You needing the a pivot indicator? Try this one. I trade pivots everyday and this is one of the reasons I am going with either Tradestation or Ninjatrader, you can set the broker to which time you need and the pivots are calculated from there.

Spoke with MBT support today as I have a scalping auto-strategy and wish to take advantage of the ECN free commission plan - but I run ninjatrader NOT MetaTrader.

They say that they are working on integrating the free commission model into their desktop/desktop pro software. As NT hooks into it, this would be a 'non-metatrader' option to get those keen spreads without commissions.

3 months-ish looks like the timeline.

I'm loathed to use MT and convert my scalping strategies. Does anyone use or know of a way to hook up NT to the MBT MT4 software for passing orders through?

Thanks in advance for any feedback

*Warning, QuadX labels me MBT Boy Band Leader--so take what's below for what it is *

So, here is how I'd approach the question--

1.) Trade Live--There is no excuse not to load up a $500 acct and test any and all brokers live. If you are too cheap to do that, might as well grab a wad of cash and burn it. You'll waste more time and money playing demo vs demo, broker vs broker.

2.) Determine style--The two different MBT account types have 2 very important differences 1) platform, 2) spread/commission plan. If you are a discretionary limit order based trader, of course the Pay for Limits is for you. If you have a pre-programmed EA that uses >50% market orders then Free EXN is for you. If you split the difference--open both accounts and try both.

Now, my issue--

I am not a fan of the Pay-For-Limits (PFL) and Free EXN dual systems. In my not so humble opinion, MBT has split their liquidity, introduced confusion, competition, and lowered their quality of service by this. I understand WHY they did it, but don't think it was a long-term viable decision.

As I see it, all the market order based EA's and discretionary traders are now in the Free EXN system--why not, no commission with equivalent spreads. Only downside is they are locked into MT4, which, based purely on message board complaints, seems to be a pain the arse.

The alternative is to use their decent Desktop Pro and/or API and trade the PFL system. If you are a limit trader AND (AND) (AND) you get the fill you want, then it's a win-win. But what I and others have noticed is that resting limit orders are now dominantly filled only when major liquidity providers run into the limit. As the overall market gyrates up and down, the spread tightens as LP liquidity approaches resting MBT limits until it is filled. No longer are IN-HOUSE market orders regularly filled. As a result, upon filling, the market spread returns to normal and the position is generally 0.5-0.9pips in the red--basically as if a MARKET order was used EXCEPT the commission rebate.
With respect to market orders, they make no sense on PFL as the spread is generally 0.8 to 0.9 pips (especially considering ONLY major LP size) plus the 0.3-0.4 pip commission (based on exchange rate and rounding). Market orders and stops blow on PFL. And now that Limit orders are acting like market orders PFL is blowing...

So, I am no fan of the dual systems--I wish they'd return to either a commission based or no-commission/no-rebate based single in-house order book with the associated bump in in-house liquidity and beneficial limit order fills.

Again, my rambling two cents, but a genuine, pleased MBT user who is battling their decisions and adapting my trading to better suit their PFL marketplace...

MB boyzzz!!

That is me on the left, lost my finger in a EURUSD dogfight. Price of being a MBT Boyzzz!

e-mail Justin, he may help you on that. Mb's coders will probably be able to digitally restore your middle finger with the condition you don't use it against them later.

I've been dreaming this for years.