Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Introduction and trading basics 27 replies

Introduction to Level 2 4 replies

VTTrader: How to Write Your Own VT Indicator Introduction. 0 replies

Interest Rates: An Introduction 0 replies

An introduction to spread betting 0 replies

Attachments: MB Trading Futures - Introduction
Exit Attachments

MB Trading Futures - Introduction

Quoting rmrf
Really it is a little unstable compared to other brokers mt4 clients, it seems like, But I havnt been trading my live MB account that long to demonstrate its instability, but if it becomes more unstable, I am going to call up michael and pitch a bitch.

We all know brokers who have buttons in their deal desk like, "lag client", "nuke customer", and so on, but trading was especially unstable at 430's GBP news and I had trouble getting my orders filled which were hanging, your mt4 client has issues, I will find all the bugs for you, it frequently...
Well don't use that POS MT4 and you wouldn't have these problems. Their Desktop Pro platform is completely stable.
Quoting rmrf
I did on informed trades and you ignored me for days, I called several times, and although my trailing stop was functionality was added back, eventually, it is something you guys turned off or was a configuration error.

No matter, I have had literally dozens of forex brokers, and so far MB hasnt pulled any tricks that cost me any significant money.

The client is unstable is my opinion after 10 days of live trading mt4 @ MB PFL (pay for limits).

so far MB is honest, I only got one ignorant employee one time that told me a load of crap (that...
Rmrf-

I apologize, I don’t spend much time on the other board that you mentioned (hadn’t been there in a year, actually). Is there a reason that you use MT4? If you are running an EA, I understand, otherwise, I would suggest looking at our main platform (Desktop Pro).
Quoting rmrf
Define black box traders

and how does it affect my scalping @ MB PFL
Rmrf-

Black box traders run automated scripts for active trading under various parameters. In this case, what I was referring to are those that try to cut into the spread actively and be the bid and offer. It narrows spreads.
Quoting brisully
The marketing materials for the FREE EXN plan state that MB Trading has built their costs into the spread so that anyone placing a market order enjoys "what you see is what you get" pricing. (That's my rewording off the top of my head.) So if I place a limit buy order on the PFL plan, why couldn't that order appear 3 ticks lower on the FREE EXN price feed? (This would essentially mean that the market order that fills it is paying a 3 ticks commission, as opposed to the 2.95 ticks commission that order would incur on the PFL plan - almost exactly...
Brisully-

Doesn’t work that way. The whole point of the EXN technology is that, as a customer, your exact price is reflected to the market. We can’t hold it back or mark it up or down. We wouldn’t want that, customers wouldn’t accept that, and the regulators probably wouldn’t allow it since it defeats the purpose.

Regarding Bronco’s comments, I don’t know his trading specifically, but I can say that we have seen no difference in Limit order volume as a percentage of the whole on PFL since the launch of FREE EXN. We’re still opening plenty of accounts on the PFL plan (it’s about an even split, I believe). Obviously, we have a lot of data about how of this works, and I can’t share it, but I can say that there’s no way PFL side has seen a four-fold drop in EXN liquidity, or in fact, really any at all. It may be that some of the banks are getting more aggressive in tightening their spreads there, which means more orders are getting filled in whole by them instead of against customers.
Quoting BroncoCap
Yes, but as mentioned later by brisully and myself, it is the market orders that have moved, as I have qualitatively determined. MBT and you have the hard numbers, if you could do a bit of data mining and calculate the number of market orders per X (day, 1000, some normalizing term) today relative to the same last year or pre-No Commish. That would determine the effect of the new system on PFL system. Just a thought.

[i]As we can all agree, market orders make the market move (coupled w/ your deep LP provider's price change). Before I expected...
Bronco-

Ah, that is different (saying less market orders than before instead of less limits than before).

However, there has also been a noticeable drop in the ranges of the forex market daily over the last couple of months (less trading in general). I think that has more to do with it. For example, we could track the numbers of people that had PFL accounts and opened FREE EXN accounts and moved their money. The number of people that have done this is basically negligible. So it definitely isn’t because FREE EXN launched that you are seeing what you are in PFL. FREE EXN has brought a separate type of trader to us, which was, obviously, the point.
Quoting QuadrupleX
Well I guess other posters did the job for me about platform instability and other issues Justin, just read the last posts.

Until MB matures and decide to hire real professionals to their IT team and drop the argument that " everything is too hard to do" I will stay away.

Believe me others are staying away too.
Quadruplex-

I don’t see any such comments as you suggest in the last few posts. Again, as I stated, please let me know what issues you are experiencing with our platform (not MT4). If all you are doing is commenting on MT4, we can’t control that platform. We don’t own the code.

I suggest one of two things.

1) You are confusing comments you are seeing about MT4 and suggesting that it relates to our main Desktop Pro platform.
2) You are just here to bad-mouth in any way possible.

I continue my open offer…tell me about problems you are actually experiencing in a Live account with our Desktop Pro platform or tell me about how we are being dishonest with people, and I will address it. Otherwise, it seems that there is no contribution for you to make here.

Quoting jleblang
Bronco-

Ah, that is different (saying less market orders than before instead of less limits than before).

[size=3][font=Calibri]However, there has also been a noticeable drop in the ranges of the forex market daily over the last couple of months (less trading in general). I think that has more to do with it. For example, we could track the numbers of people that had PFL accounts and opened FREE EXN...

Perfect, thanks, I will leave the board in peace for a few days. Much appreciated Justin (and other positive and productive commentators)...

PS...QuadX just ripped on OANDA's board too...he's just not happy...maybe if he joined the MBT boyz he would be
Justin,
I have a (blunt) question that you can hopefully answer...when is MB going to release a mobile app worth using? I'm sure you've had plenty of feedback relating to the existing app...the startup crashes, slow functionality, etc. Most of these issues have been present since the first MBT Mobile release.

What gives?
Quoting cts022
Justin,
I have a (blunt) question that you can hopefully answer...when is MB going to release a mobile app worth using? I'm sure you've had plenty of feedback relating to the existing app...the startup crashes, slow functionality, etc. Most of these issues have been present since the first MBT Mobile release.

What gives?
Which mobile app are you referring to? A while back, we had some login issues for certain customers on Mobile, but I haven't heard anything about that for a while. I use the Android app daily and don't experience issues, and we just pushed out an update to that yesterday that added more order types and functionality. Have you reported your issues to support? Is it iPhone, iPad, or Android?
iPhone 3GS, 4, 4S...sometimes the app will jut crash mid-task, other times it won't boot up at all until you remove and reinstall it. I looked over the reviews at the App Store and I'm not the only one. Software updates have yet to fix.
All-

I am heading out for a brief vacation and may not be able to post much again until Monday. I'm not ignoring you if I don't. Have a great weekend and I will pick this up when I get back.
Quoting cts022
iPhone 3GS, 4, 4S...sometimes the app will jut crash mid-task, other times it won't boot up at all until you remove and reinstall it. I looked over the reviews at the App Store and I'm not the only one. Software updates have yet to fix.
OK, I'll ask around. Like I said, I'm an Android guy, so no issues there. As I just posted separately, I'm leaving for the long weekend, so I might not have anything until next week. Thanks.
Quoting jleblang
Quadruplex-

I don’t see any such comments as you suggest in the last few posts. Again, as I stated, please let me know what issues you are experiencing with our platform (not MT4). If all you are doing is commenting on MT4, we can’t control that platform. We don’t own the code.

I suggest one of two things.

[font=Calibri]1)...
Ok Justin, I see that you DON"T WANT to understand what I'm saying over and over again.

I'm familiar with this tactic, politicians use it a lot.

I know that no matter how many times I explain it here you will come with the same question. And on top of that, you add some " insinuations" about my motives.

Ok, anyways I'm gonna play your game one more time and tell you AGAIN my issues with your company, and why after considering doing business with MB a changed my mind.

First, my personal experience with you guys over the phone was dreadful. I called MB about 9 months ago and the person that answered seemed bored to death. I asked about your fee structure etc because I was coming from oanda and never traded with a commission broker before. Besides being vague and telling me to go to the website and look for answers he was always asking how big my account was. Finally the person told me that my time was up and he had to go help other callers and pretty much hang up on me.

So just in case you still didn't get it. I'm saying that your costumer service SUCK.

Second, a few weeks ago I decided to give your cheap spread plan a try. I was surprised to see that you guys only have Metatrader and only metatrader for this plan. From a company that has its own platform thats beyond weird.

Metatrader is buggy but I don't have nothing against it as a option, I use MT4 myself for some charting and research but to lock somebody on it is just plain stupid.

Than I signed up for a demo. I filled up all the forms etc and was ready to give it a try.

Surprise ,surprise! The demo takes frigging 24 hours to kick in! Let me say that I tested quite a few brokers before and 24 hour delay for a demo is just silly.

So again in case you did not get it. A metatrader only option is unacceptable and 24 hours waiting for a demo is also unacceptable.

Now you add the concerns other traders post here about bugs in your platform and on metatrader interaction with your platform and I will feel right at home thinking that I'm at the Onada's thread.

So just in case you still did not get it so I can save you to post about it again.

Bad costumer service
Metatrader only for the plan I was considering.
24 hours wait to start to test your plan
Multiple reports of platform issues by your costumers here in this thread.

Now give me just 1 reason to go through the bother of closing my account with your competition and transferring my money to MB.

Now thats the last time I'm playing your little game. I'm just repeating what I already said in previous posts.

You are probably laughing hard about the time you are making me waste to re write all I posted before but I'm doing it for the posters and readers og FF not for you.
So you expect their free ECN to be available on their own Desktop platform? I don't think you understand the big picture here.
Their own platform is used for all instruments, not just FX. Their platform gives you depth of book, concept that very few retail FX brokers offer and something you should get familiar with.

Quoting QuadrupleX
Second, a few weeks ago I decided to give your cheap spread plan a try. I was surprised to see that you guys only have Metatrader and only metatrader for this plan. From a company that has its own platform thats beyond weird.
Regarding your concerns about customer service:
We are all human and have our ups and downs. Surely you've had your share of down days, but it doesn't mean that you are a complete moron and all your friends are morons (since you are associated with them). You got a tired guy who told you to look up their pricing structure online, so you immediately infer that the whole company is bad?

Regarding your comments about platform stability:
Clearly you have not traded/dealt with big boys on the Street. I can't name specific banks, but I can tell you that MBT's platform stability record isn't worse than any of the big names on the Street. Guess what we do when our trading partners have issues with their respective platforms. We get on the phone with them and make sure that we seeing our correct positions and pnl and if need be exit over the phone. This is all part of the game. Just like you can't expect your car to never bread down, you can't expect to trade without a single problem during your trading career (if you do, you are in for a big surprise).
Quoting brisully
He's saying that the MARKET orders have moved there, because they're commission-free, and the spreads are often lower there to boot.

What follows, though, is that there is definitely an incentive to move limit order liquidity to the FREE EXN plan: because there are more market orders being placed there, which is what limit orders are hoping to get filled by!
I too have noticed the change in liquidity. I scalp for very small profit targets.
I have traded the PFL plan for about 10 months. I have over 1000 executions.

As a Pay for Limits trader we are essentially competing against the major liquidity providers...
our fills do not happen until the inside quote is changed.(...generally when the best bid becomes our limit offer or vice versa.)

This was not always the case. It is a fight versus the algorithms now... more than another human retail trader.

They are beatable, and we do get the fractional pip compensation....
but I would rather be on the Free EXN plan with Navigator Pro's speed... mixed in with retail MetaTrader traders.
I would give up the Pay for Limits compensation for access to that liquidity pool.

Unfortunately, the Free EXN option for the superior platform (NavPro) seems to be in the far future based upon Justin's comments.

The liquidity has moved in a major way... that is why the spreads are the same or LOWER on the Free EXN plan.
This is an undeniable fact, as anyone can check the spreads over the last 24 hours, 7 days, or 30 days.
(speaking particularly of EUR/USD).

If the Free EXN participants have a small fee built into the quote, then the PFL participants are paying a higher spread in general.
If we are being paid to bring liquidity (place limit orders for all to see and execute against)
... then our spread in general should be fractionally smaller than the Free EXN plan. This is not the case.

Put some effort into negotiating a smaller spread from the major liquidity providers (as the Free EXN plan gets...)
for the Pay for Limits players.

The true spread on the Free EXN is somewhat smaller than 0.8 pips EUR/USD on average, then some amount of cost is added on.
PFL should have that true spread... instead we have a fractionally higher average true spread... which they use to pay us with essentially. (because there are few customer orders executing against my limit orders)

(Nice post brisully!)
Quoting QuadrupleX
Bad costumer service
Metatrader only for the plan I was considering.
24 hours wait to start to test your plan
Multiple reports of platform issues by your costumers here in this thread.
I can't believe I'm going to jump into this because I have strict policy of not feeding the trolls, but here we go anyway...

I think the reason that no one takes you seriously is because you are all over the board. You keep saying that MB would have all of the customers if they had a stable platform. OK, that sounds reasonable. But then when asked to point out examples of how it is unstable, what did you come up with?

1) Bad support. First, please spell customer correctly. It is CUSTOMER not COSTOMER as someone else pointed out to you but you completely missed. Now, whether MB has perfect support or not isn't that point. Obviously, as someone else said, you can get a bad rep or someone that wasn't into your shit that day. How is this about stability?

2) MetaTrader only for the plan you were considering. I actually think this is a perfect reasonable problem. MT4 sucks in general (not MB's fault) and they only offer the FREE EXN plan on it so far, so you could simply say, "Gee Justin, I like the FREE model better, and since I've heard great things about your Desktop platform, I'm going to open an account with you once you offer that plan there." Still has nothing to do with stability.

3) 24 hour wait. OMG. This is so dumb it isn't even worth mentioning. You don't want it to be a 24 hour wait? No problem. Open the demo account at 4:55 pm EST, it will be a 5 minute wait. You probably won't even be able to log into the platform before it is ready. And AGAIN, nothing to do with stability.

4) Multiple reports of platform issues by your (wait for it) COSTOMERS (people at a party I guess). But again, as you point out halfway in your only points, this is MT4. You want Desktop Pro, where you seem to half admit there are no issues (that's why you want it).

So at the end of the day, you aren't pointing out a single stability problem, other than the general fact that MT4 has issues with all brokers.

If I follow all of your complaints logically, wouldn't this statement be true?

"Justin, I will be happy to open an account with you once FREE EXN is available on Desktop Pro."

Because nothing you list IS ABOUT STABILITY (except maybe what's going on in your head).
FXChant Singing the World of Forex
Quoting fxchant
I can't believe I'm going to jump into this because I have strict policy of not feeding the trolls, but here we go anyway...

I think the reason that no one takes you seriously is because you are all over the board. You keep saying that MB would have all of the customers if they had a stable platform. OK, that sounds reasonable. But then when asked to point out examples of how it is unstable, what did you come up with?

1) Bad support. First, please spell customer correctly. It is CUSTOMER not COSTOMER as someone else pointed out to you but you...


Great post. Nothing constructive at all about Quadruplex' stuff. I spent five months picking a broker. I did all of my research, much of it here via questions, but elsewhere too. I opened small live accounts with 6 brokers because Demo is nonsense. I had it down to Oanda and MBT. In the end, I picked MBT because I had a great experience with their reps, I found their platform to be extremely stable compared to others, and I liked both pricing models. Now I have four accounts with them doing different things for different reasons, and I haven't experienced anything to suggest that they are dishonest in any fashion. But I do know that if I come up with a legit gripe, they will listen. Not vague general nonsense, but something tangible.

Best broker around, hands down. Take that to the bank.
Ok, as my last post here in this thread I would just like to clarify that:

My opinions expressed in my posts are not only from my own experience with MB but also opinions expressed multiple times by other traders in posts here in this very thread. don't come with the argument that it was a "isolated situation".

If a troll means expressing a opinion YES I'm a troll.

People fine with shady brokers are either not making money or working for them.
Quoting QuadrupleX
Ok, as my last post here in this thread I would just like to clarify that:

My opinions expressed in my posts are not only from my own experience with MB but also opinions expressed multiple times by other traders in posts here in this very thread. don't come with the argument that it was a "isolated situation".

If a troll means expressing a opinion YES I'm a troll.

People fine with shady brokers are either not making money or working for them.
Great, but MB is clearly not a shady broker given their awards, reputation, lack of fines, and amount of regulators that they have to answer to. I don't work for them, I do use them, and I resent you coming on a thread and implying that my broker that I leave my money with and trade with (and have for almost a decade if you count stocks) is anything near a shady operation. Hope this is the last we hear from you unless you actually have something constructive to say at some point.

Troll doesn't mean expressing an opinion. Troll means someone who's s$#% don't make sense, trying to persuade people without facts or merit. If you were a live account trader with them and were pointing out problems that you were actually experiencing, we would all be interested.
I first opened my first MB LIVE account in 2006 with their desktop pro or whatever it was. I now use their mt4 client live trading and they have never cheated me OR deceived me (not once pulled anything shady that I know of ) and have been for many years nothing but straight forward and honest. And BTW I have had dozens of forex brokers on live trading accounts (over about 10 years) and everyone of them without exception pulled some sh$t on me EXCEPT MB TRADING. I am not saying they will never try to pull any shady sh$t, but so far after 5+ years they have NOT gotten over on me, which doesnt mean it cant happen, but if it hasnt happened in 5 years it is very unlikely that it will ever happen.

Trouble is there are so many shady brokers out there that, when someone finds a great broker (LIKE MB TRADING) they cannot believe that there is such a thing!

I also am a MB trading client for many years, I do not work there, and never worked there, I am just another one of thir very satisfied live mt4 trading clients.

Quoting wannatradefx
Great, but MB is clearly not a shady broker given their awards, reputation, lack of fines, and amount of regulators that they have to answer to. I don't work for them, I do use them, and I resent you coming on a thread and implying that my broker that I leave my money with and trade with (and have for almost a decade if you count stocks) is anything near a shady operation. Hope this is the last we hear from you unless you actually have something constructive to say at some point.

Troll doesn't mean expressing an opinion. Troll means someone who's...
0 traders viewing now