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MB Trading Futures - Introduction

  • #9,401
  • May 1, 2012 12:08pm May 1, 2012 12:08pm
Quoting BroncoCap
Jinks,
No idea, but there was concern a while back that MBT would not release who their LPs are. I could care less, I guess, haven't really pondered the ramifications. My naive assumption was that they set up liquidity agreements with various LPs and have a API/SDK for those LPs to access MBT book and set LP liquidity. Pure speculation, but I think using Integral/Currenex would be a selling point and would be mentioned if either was actually used...maybe...this is a bit over my head...hopefully Justin can answer.

Bronco
BroncoCap, thank you very much for your clear, kind and quick answer. Now let's wait for Mr. LeBlang to do the clarifications around the subject.

Regards,
MrJinks.
  • #9,402
  • May 1, 2012 12:37pm May 1, 2012 12:37pm
Quoting tradeoffice
Justin,

I understand what you mean, this forum is not dedicated to support. But I contacted the support team since friday via ticket, phone call and email, and nobody gave me a correct answer about the fee issue.
By posting on the forum, I can check if other traders have the same issue.
In addition, when you contact the support, you never have the same interlocutor and each time you have to re-explain your problem from the beginning.
Justin, I am not with MBT since a long time, but I read some posts on the forum and I see you seem very concerned...
Actually, what would be useful to me is if you pointed me to exactly what you asked to whom and what the responses were (i.e. private me your account number, I will pull up your tickets, forward me any email responses you got, and let me know what you were told over the phone).

Also, please note that I don't think they had found the bug until last night, so I don't think anyone knew the exact cause or answer. And again, while I believe this could be fixed at rollover, we're fixing a bug on the fly, so it could also take another day if they didn't find it all. Hopefully, it is all fixed as of rollover today. Otherwise, we will continue to work until it is fixed, then address any commission errors that should have been paid. But separate from that, I'd love your help in seeing the different answers you got. You can private message me here or email [email protected].
  • #9,403
  • May 1, 2012 12:39pm May 1, 2012 12:39pm
Quoting mrjinks
BroncoCap, thank you very much for your clear, kind and quick answer. Now let's wait for Mr. LeBlang to do the clarifications around the subject.

Regards,
MrJinks.
We don't use either. We wrote our own aggregating software years ago, which was one of the pieces that allowed us to be an EXN (ECN) before others could try. We have our own routing algorithm and dedicated connections to all of the banks in our quotes.
  • #9,404
  • May 1, 2012 12:42pm May 1, 2012 12:42pm
Quoting BroncoCap
For those that wonder why I am an MBT Fan Boy, this is why. Taking time to write a thoughtful, complete, and honest response to abundant criticism shows that MBT works to help me/us, the consumer, rather than yield to their own profitability or the LPs. I am the first to admit that I am opinionated, steadfast in belief, and willing to push issues, but as long as MBT is willing and able to deal with me, provide quality executions, and decent customer service, I will remain a loyal supporter.
  • #9,405
  • May 1, 2012 1:00pm May 1, 2012 1:00pm
Quoting ForexQuant
Justin,

I believe most of us have a concern that the chance of client-to-client match has reduced significantly since the introduction of Free EXN. Many of us here could feel the difference. We want to earn the spread besides getting paid.
I don't know if most of you do any reading about the industry, but there are reports that Forex volumes dropped off sharply starting in November 2011. There are big layoffs at many of the big bank desks, and I've heard that volumes over the last three months overall are back to 2005 levels, which is a HUGE drop when you consider how much it had climbed in those 7 years. Whether that is a function of regulation, lower leverages, people getting wiped out, or just a slow market (the indices are flat during that window) is open for debate. However, that is a SIGNIFICANT drop off if true, and it would account for a lot of the missing "retail liquidity" that you guys are referring to. I don't think it is a function of which MB platform people are trading on. These numbers, I'm hearing, are industry-wide. That means this isn't an MB thing, but since MB was one of the few brokers that allowed us to truly trade client-vs-client, it's one of the few places where it is noticed. But the drop off starting in November lines up pretty exactly with the launch of Free EXN, correct?
  • #9,406
  • May 1, 2012 1:37pm May 1, 2012 1:37pm
Quoting fxreporter
I don't know if most of you do any reading about the industry, but there are reports that Forex volumes dropped off sharply starting in November 2011. There are big layoffs at many of the big bank desks, and I've heard that volumes over the last three months overall are back to 2005 levels, which is a HUGE drop when you consider how much it had climbed in those 7 years. Whether that is a function of regulation, lower leverages, people getting wiped out, or just a slow market (the indices are flat during that window) is open for debate. However,...
fxreporter,
This line of thought matches Justin's data fairly close. His argument has been a change in liquidity and volatility leading to less fills. I am coming to that conclusion as well and have adapted my trading to match the current market. One thing every trader should consider is that nothing lasts forever--whether it be market action, broker models, regulation, everything is dynamic--get complacent and get run over...slowly.

Adapt or die

BroncoCap
  • #9,407
  • May 1, 2012 2:27pm May 1, 2012 2:27pm
Hi all-

Some exciting news for those of you that use MT4 through us. I'm pleased to announce that the MetaTrader 4 Mobile apps now work with us. This includes iPhone, Android, and Windows/smart-phone apps for both our PFL and FREE EXN accounts. Our website won't be updated until early next week to reflect this, and we will make an announcement then, but I wanted to let you all know right now as it is already working.

Simply go to the App Store for your appropriate device and search for MetaTrader 4 app from MetaQuotes. Download and install it. Then select Login to Existing Account. You can do Demos and Live accounts.

ONE NOTE:

When you start typing your broker name, just put MB and it will list our servers. The way that the currently read (we are getting this changed), you'll see MBTrading-Live Server with the broker name MB Trading Futures, Inc. under it. That is for the live PFL server. Also in the list will be MBT-Live Server with the name MB Trading Forex under it. That is for FREE EXN accounts.

This is ready to go right now for those that are interested. As I said, the official announcement is forthcoming.
  • #9,408
  • May 1, 2012 3:54pm May 1, 2012 3:54pm
Quoting jleblang
Hi all-

Some exciting news for those of you that use MT4 through us. I'm pleased to announce that the MetaTrader 4 Mobile apps now work with us. This includes iPhone, Android, and Windows/smart-phone apps for both our PFL and FREE EXN accounts. Our website won't be updated until early next week to reflect this, and we will make an announcement then, but I wanted to let you all know right now as it is already working.

Simply go to the App Store for your appropriate device and search for MetaTrader 4 app from MetaQuotes. Download and install...
Oh! How exciting
  • #9,409
  • May 1, 2012 6:41pm May 1, 2012 6:41pm
Quoting jleblang
Hi all-

Some exciting news for those of you that use MT4 through us. I'm pleased to announce that the MetaTrader 4 Mobile apps now work with us. This includes iPhone, Android, and Windows/smart-phone apps for both our PFL and FREE EXN accounts. Our website won't be updated until early next week to reflect this, and we will make an announcement then, but I wanted to let you all know right now as it is already working.

Simply go to the App Store for your appropriate device and search for MetaTrader 4 app from MetaQuotes. Download and install...
Great news Justin. Very helpful since I couldn't check my trades through your other Mobile app. Thank you.
  • #9,410
  • May 2, 2012 5:27am May 2, 2012 5:27am
Justin, how to get rid of these buggy price spikes on AUDCHF Daily? Desktop Pro RC Version 2.1.0.38 edition.
Attached Image (click to enlarge)
Click to Enlarge Name: MBT Desktop Pro Build 2.1.0.png Size: 53 KB
all is eternal - this is good news for people who loves bad news
  • #9,411
  • May 2, 2012 6:17am May 2, 2012 6:17am
now I need to get a smart phone I guess! anyone have an opinion to the best device or OS to use for this new app?

Quoting jleblang
Hi all-

Some exciting news for those of you that use MT4 through us. I'm pleased to announce that the MetaTrader 4 Mobile apps now work with us. This includes iPhone, Android, and Windows/smart-phone apps for both our PFL and FREE EXN accounts. Our website won't be updated until early next week to reflect this, and we will make an announcement then, but I wanted to let you all know right now as it is already working.

Simply go to the App Store for your appropriate device and search for MetaTrader 4 app from MetaQuotes. Download and install...
  • #9,412
  • Edited 9:25am May 2, 2012 9:13am | Edited 9:25am
Justin,
You asked for examples of slow execution, so here you go...BUT this may be all news related as it occurred during ADP #'s. If so, then lesson learned for me...

Okay, hopefully this goes in order, images numbered 01 to 06.

01.jpg is set up, a 6k buy stop at 1.31393 (EURUSD) placed at 08:14:27
02.jpg is initial bid break of the stop around 08:15:08
03.jpg is initial retrace below buy stop around 08:15:10
04.jpg is big move past buy stop around 08:15:20
05.jpg is 5k fill of the 6k order at 08:15:39
06.jpg is 1k remaining fill at 08:16:19

As you can see, market moved huge, as expected during this time.

If this is all news related, then I totally understand, just given size and market moves, seems orders would've been filled much faster, especially the remaining 1k that took an additional 40s to fill.

Any input is much appreciated and I can send you acct # and order # if you need it.

Cheers and thanks in advance,
BroncoCap

edit: and I traded positively out of this mess, so this is not a whine and b!tch session, and I'll add that I am looking into the VPS as it may prove fruitful if much of the latency is related to trade reporting back to me rather than actual execution latency.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 01.jpg Size: 74 KB
Click to Enlarge Name: 02.jpg Size: 33 KB
Click to Enlarge Name: 03.jpg Size: 38 KB
Click to Enlarge Name: 04.jpg Size: 58 KB
Click to Enlarge Name: 05.jpg Size: 66 KB
Click to Enlarge Name: 06.jpg Size: 76 KB
  • #9,413
  • May 2, 2012 9:41am May 2, 2012 9:41am
Quoting rmrf
now I need to get a smart phone I guess! anyone have an opinion to the best device or OS to use for this new app?
Android.
  • #9,414
  • May 2, 2012 10:52am May 2, 2012 10:52am
Quoting BroncoCap
Justin,
You asked for examples of slow execution, so here you go...BUT this may be all news related as it occurred during ADP #'s. If so, then lesson learned for me...

Okay, hopefully this goes in order, images numbered 01 to 06.

01.jpg is set up, a 6k buy stop at 1.31393 (EURUSD) placed at 08:14:27
02.jpg is initial bid break of the stop around 08:15:08
03.jpg is initial retrace below buy stop around 08:15:10
04.jpg is big move past buy stop around 08:15:20
05.jpg is 5k fill of the 6k order at 08:15:39
06.jpg is 1k remaining fill...
BroncoCap,

As usual, the best way for me to get answers is if you email me or Private message me your account number and trade IDs. I will research. I can’t do a thing with the information that you have given.
  • #9,415
  • May 2, 2012 1:41pm May 2, 2012 1:41pm
Is there Depth of Market info on Free EXN MT4 accounts?

I was testing one of my Demo MT4 Free EXN accounts,
I also logged in to Navigator Pro and switched accounts to that Demo.

The pricing did not line up.

Is there Depth of Market information to bee seen for MT4 Free EXN accounts
if we logged into Navigator to view the bids/offers?

Or is the only current pricing information relayed in MetaTrader and that is all?

I understand we could not place trades from Nav Pro for those accounts.
  • #9,416
  • May 2, 2012 1:49pm May 2, 2012 1:49pm
Quoting Intu
Is there Depth of Market info on Free EXN MT4 accounts?

I was testing one of my Demo MT4 Free EXN accounts,
I also logged in to Navigator Pro and switched accounts to that Demo.

The pricing did not line up.

Is there Depth of Market information to bee seen for MT4 Free EXN accounts
if we logged into Navigator to view the bids/offers?

Or is the only current pricing information relayed in MetaTrader and that is all?

I understand we could not place trades from Nav Pro for those accounts.
Intu,
Not a pro here, but the following may help. 1) Free EXN and PFL are two totally different systems and therefore could have slightly different prices, especially during fast markets. Spread may also be different. 2) I think I read somewhere that MT4 does not update tick-by-tick. It can only process so many ticks/second or whatever. Therefore, while the true depth of market on Free EXN may be close to PFL, the actual display in MT4 may be slightly different.

Again, not an MT4 user, just relaying what I have read and presume...

Cheers!
  • #9,417
  • May 2, 2012 3:45pm May 2, 2012 3:45pm
Quoting tradeoffice
Justin,

I understand what you mean, this forum is not dedicated to support. But I contacted the support team since friday via ticket, phone call and email, and nobody gave me a correct answer about the fee issue.
By posting on the forum, I can check if other traders have the same issue.
In addition, when you contact the support, you never have the same interlocutor and each time you have to re-explain your problem from the beginning.
Justin, I am not with MBT since a long time, but I read some posts on the forum and I see you seem very concerned...
Tradeoffice,

I wanted to thank you for providing me with the detailed information that I requested. This has actually helped us identify an issue internally that I think could have resulted in better and more timely responses to effected customers about this issue, or any issue that could arise that would be similar, and I think that we will be faster in our responses next time. You shouldn’t have to email twice and submit a ticket, all with the same question, to get an answer, much less no answer.

You should be contacted shortly in response to those emails and tickets, but the short version is what I had stated earlier, which is that we fix the bug first (looks like it already is), and then once it is fixed, we identify all of the trades that were affected (also already done), and in one motion we will issue credits to those accounts as soon as that process can be set up. But by providing me with the detailed information that you did via email, I was able to spot something that could be corrected in the future.

Thanks.
  • #9,418
  • May 2, 2012 3:46pm May 2, 2012 3:46pm
Quoting BroncoCap
Justin,
You asked for examples of slow execution, so here you go...BUT this may be all news related as it occurred during ADP #'s. If so, then lesson learned for me...

Okay, hopefully this goes in order, images numbered 01 to 06.

01.jpg is set up, a 6k buy stop at 1.31393 (EURUSD) placed at 08:14:27
02.jpg is initial bid break of the stop around 08:15:08
03.jpg is initial retrace below buy stop around 08:15:10
04.jpg is big move past buy stop around 08:15:20
05.jpg is 5k fill of the 6k order at 08:15:39
06.jpg is 1k remaining fill...
Broncocap-

Thank you for providing me the details that I needed in Private. I have everything that I need to know and we are researching this actively. Yes, obviously, there was news around this time, but we are still analyzing the trade carefully to see if it was properly handled, and I will get back to you in the next couple of days when I get a response.
  • #9,419
  • May 3, 2012 8:31am May 3, 2012 8:31am
Quoting jleblang
Tradeoffice,

I wanted to thank you for providing me with the detailed information that I requested. This has actually helped us identify an issue internally that I think could have resulted in better and more timely responses to effected customers about this issue, or any issue that could arise that would be similar, and I think that we will be faster in our responses next time. You shouldn’t have to email twice and submit a ticket, all with the same question, to get an answer, much less no answer.

You should be contacted shortly in response...
You are welcome Justin. Everything is back to normal since yesterday, no more issue.
  • #9,420
  • May 3, 2012 10:54am May 3, 2012 10:54am
Nice work Justin and MB Trading!

I wasn't really concerned about this because my amounts were not large.
I did not submit any account info.
I was just happy that they found the "bug".

But...
they did identify my account (as one of many I presume) and are making corrections.

Nice job guys and gals...



"We have identified an issue where some forex orders executed on your account were mis-labeled as removing liquidity
and charged a commission. We apologize for the error and have rectified the issue.

A credit will be issued to your account to offset the commissions charged on the trade(s)
and the initial credit that you should have received.

The credit will post to your account on 5/3/2012 and will show up in the cash activity portion of your account statement."
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