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MB Trading Futures - Introduction

  • #9,421
  • May 8, 2012 6:28am May 8, 2012 6:28am
Hi Justin,

I have recently started demoing Desktop Nav Pro, and I have observed that, when using N-tick charts, the first (most recent) bars that are downloaded to the chart almost always show very large spikes (10-20 pips or more, when a typical 60T bar could be 1 or 2 pips). These are bars that are filled from the history server when I open a chart in Desktop Pro, so they pose no problem in terms of trading, but they are annoying nonetheless. I have tried two installations of Desktop Pro from two different computers and the behavior is the same, with clusters of spikes forming in those first historical bars.

Is this a known bug? If it is, am I right in assuming that it only affects demo accounts?

Thanks in advance!
  • #9,422
  • May 8, 2012 6:54am May 8, 2012 6:54am
Quoting Intu
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...



[i]"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...
Be sure to double check your statements concerning these corrections. I did, and they only refunded the commission but did NOT pay the rebate for adding liquidity. I may be mistaken, but as far as I can tell, this is the case. Additionally, they did not update their trade records, so you cannot pull up the trade confirmations for those days/trades and see corrected commission charges/rebates, which is a pain the arse if you do run daily reports and treat this business like a business. I would much prefer to see all the reports reflect the correction, not just cash activity...

I'll update if/when I am fully refunded and/or I am wrong and they show me where the remaining rebates are.

BroncoCap

Edit: Ughhh, just triple checked and the Cash Activity shows correct credit whereas Trade Confirmations do not...anyways, all is correct if just not obvious...recall the hound dogs...
  • #9,423
  • May 9, 2012 7:59am May 9, 2012 7:59am
Quoting BroncoCap
Be sure to double check your statements concerning these corrections. I did, and they only refunded the commission but did NOT pay the rebate for adding liquidity. I may be mistaken, but as far as I can tell, this is the case. Additionally, they did not update their trade records, so you cannot pull up the trade confirmations for those days/trades and see corrected commission charges/rebates, which is a pain the arse if you do run daily reports and treat this business like a business. I would much prefer to see all the reports reflect the correction,...
Going insane here. Anybody that had erroneous commission charges in the PFL system, please double check your reports. I, once again, did the math and found MBT has not fully fixed the issue. It appears they only refunded the incorrect commission charge, but have NOT added the PFL liquidity rebate component. You should get ~$0.07 correction per microlot trade (assuming trades are 1000 units, higher unit trades change the rounding so the values will be slightly different).

The bigger issue here is that they have not corrected the trades on a per-trade basis. As a result, you cannot run a report and see the correct values. Any and all reports still show the wrong commission charges. It makes it impossible to see if the errors are fixed AND impossible to run any kind of report for that week--they will always be wrong.

Please fix MBT, I sent personal email with all the details, but I believe it is cut and dry mistake...

BroncoCap
  • #9,424
  • May 9, 2012 8:45am May 9, 2012 8:45am
Quoting BroncoCap
Going insane here. Anybody that had erroneous commission charges in the PFL system, please double check your reports. I, once again, did the math and found MBT has not fully fixed the issue. It appears they only refunded the incorrect commission charge, but have NOT added the PFL liquidity rebate component. You should get ~$0.07 correction per microlot trade (assuming trades are 1000 units, higher unit trades change the rounding so the values will be slightly different).

The bigger issue here is that they have not corrected the trades on...
Mine is fixed fine. They just issued a credit, and it was for the proper amount (reversed commission and then credit for limit payment). Btw, you said "You should get ~0.07"....that would depend on which pair.
  • #9,425
  • May 9, 2012 3:10pm May 9, 2012 3:10pm
Quote
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.

This is ready to go right now for those that are interested. As I said, the official announcement is forthcoming.

Hi Justin, I am having trouble getting my live account functioning on MT4 mobile. Demos' work fine. I have contacted customer support and they advise that mobile MT4 is not supported at this time.

Per support, "Clients using the MT4 cannot log into their accounts through the MBT Mobile, as it is not supported at this time."

Any idea what is going on and/or how to remedy the problem?
Why go long...When you can go short!
  • #9,426
  • May 10, 2012 12:24am May 10, 2012 12:24am
Nice update.

In particular, I like the new additions to the chart.
  • #9,427
  • May 10, 2012 10:13am May 10, 2012 10:13am
hi, im looking to switch to mb trading... searched through their website and this forum regarding deposit and withdrawal... but still cant find anything clear..

so just to clarify... if i live outside the US, and my account is USD denominated, and i choose to withdraw by cheque, will the withdrawal be free?

also, for the exn account, 1) what is the minimum deposit required for account opening, 2) what is the minimum lot size?
  • #9,428
  • May 10, 2012 10:43am May 10, 2012 10:43am
Quoting eipi
hi, im looking to switch to mb trading... searched through their website and this forum regarding deposit and withdrawal... but still cant find anything clear..

so just to clarify... if i live outside the US, and my account is USD denominated, and i choose to withdraw by cheque, will the withdrawal be free?

also, for the exn account, 1) what is the minimum deposit required for account opening, 2) what is the minimum lot size?
Minimum deposit required is $400, minimum lot size is 0.01 lots (1K units).
  • #9,429
  • May 10, 2012 10:44am May 10, 2012 10:44am
hey thanks man rooicol... do you happen to know how the withdrawal works???
  • #9,430
  • May 10, 2012 12:17pm May 10, 2012 12:17pm
Once again my mbt mobile (iOS) app is not working anymore. The app refuses to load. Typically you can force quit to get it to run but that trick stops working after a while with a re-install being the only option.

I will not reload this garbage app again. Using Oanda's mobile app for quotes. No real solution for mobile order entry in my MB account - fortunately I seldom need to place orders on mobile device but it would be nice to have a reliable working software.

For the iOS haters - this is not an apple issue , its purely sh**y code . Oanda iOS app is rock solid never once crashed. I know there are no good mobile trading apps I am just hoping MB decides to fix their app one day.
  • #9,431
  • May 10, 2012 2:02pm May 10, 2012 2:02pm
On MB Trading main page click Forex, then scroll down to Misc Fees.
http://www.mbtrading.com/forexMiscFees.aspx


There are multiple options for check withdrawals it seems.
It might be slow through the mail since you are outside the U.S.

I recommend setting up an ACH relationship, if possible, with your bank in your country after opening the account.
It's quite fast for withdrawals (often same day).
  • #9,432
  • May 10, 2012 2:07pm May 10, 2012 2:07pm
Quoting Intu
On MB Trading main page click Forex, then scroll down to Misc Fees.
http://www.mbtrading.com/forexMiscFees.aspx


There are multiple options for check withdrawals it seems.
It might be slow through the mail since you are outside the U.S.

I recommend setting up an ACH relationship, if possible, with your bank in your country after opening the account.
It's quite fast for withdrawals (often same day).
hey yeah! i checked that out before.. wasnt sure if they were actually going to mail cheques out of the US... hahaha... thanks for your help man...!
  • #9,433
  • May 10, 2012 3:08pm May 10, 2012 3:08pm
hi justin. is one mbtrading account compatible with all platforms? for example, can i trade on web platform and mt4 platform with the same account?
regards
Everyone has a plan 'till they get punched in the mouth.
  • #9,434
  • May 11, 2012 5:17am May 11, 2012 5:17am
Justin, does MB have any plans to make the iOS mobile app actually usable?

The latest update was 2 months ago. That update has received 17 ratings--every one of them is 1-star. The programmers must be so proud.


Quoting mediaboy
Once again my mbt mobile (iOS) app is not working anymore. The app refuses to load. Typically you can force quit to get it to run but that trick stops working after a while with a re-install being the only option.

I will not reload this garbage app again. Using Oanda's mobile app for quotes. No real solution for mobile order entry in my MB account - fortunately I seldom need to place orders on mobile device but it would be nice to have a reliable working software.

For the iOS haters - this is not an apple issue , its purely sh**y code . Oanda...
  • #9,435
  • May 11, 2012 9:28am May 11, 2012 9:28am
Quoting Nazzcus
Hi Justin, I am having trouble getting my live account functioning on MT4 mobile. Demos' work fine. I have contacted customer support and they advise that mobile MT4 is not supported at this time.

Per support, "Clients using the MT4 cannot log into their accounts through the MBT Mobile, as it is not supported at this time."

Any idea what is going on and/or how to remedy the problem?
Nazzcus,

Please give me more details. If you have a live account with us, the username/password should work fine. For PFL accounts, search MB Trading Futures for the server. For FREE EXN accounts, search MB Trading FX.
  • #9,436
  • May 11, 2012 9:31am May 11, 2012 9:31am
Quoting leeon
hi justin. is one mbtrading account compatible with all platforms? for example, can i trade on web platform and mt4 platform with the same account?
regards
Leeon,

No, but MT4 accounts can be viewed through the Desktop Pro and Web, but you are not able to trade.
  • #9,437
  • May 11, 2012 10:09am May 11, 2012 10:09am
Quote
Please give me more details. If you have a live account with us, the username/password should work fine.

Yes, I have a live Forex account with MBT. Last week I tried to set up MT4 on a second computer. I tried the copy config method and even transferred the entire MT4 folder. None of this worked. I contacted support and they advised the password needed to be reset before the second terminal would work. They reset it and the second terminal works fine.

I downloaded the MT4 mobile and the same situation is happening. My live account shows invalid but the demo account works fine. I contacted support and was advised MBT does not support the mobile MT4. When I asked them, "if its not supported, why does the demo account work?" I was told a supervisor would look into it and that was the end of support.

Long story short, my user/password (accessing live account) does not work on MT4 mobile and support has no idea. However, demo works great and I hope to get the ability to use MT4 mobile for live accounts.
Why go long...When you can go short!
  • #9,438
  • May 12, 2012 2:02am May 12, 2012 2:02am
I was checking the MBT ECN spread. out on GBPJPY = 3.9 pips down to 3.2 with 2M in size.

VS

Interactive Brokers FX ECN spread on GBPJPY = 1.5 down to .5 with 2M in size.

So Can MBT give me a better spread?...,

Even on the EUR, Or the JPY they're just not as tight As I'd like.

I'm sure MBT is big enough to have access to the same liquidity providers,
So why not bring them in a little?
  • #9,439
  • May 12, 2012 12:37pm May 12, 2012 12:37pm
Quoting Crosslock
I was checking the MBT ECN spread. out on GBPJPY = 3.9 pips down to 3.2 with 2M in size.

VS

Interactive Brokers FX ECN spread on GBPJPY = 1.5 down to .5 with 2M in size.

So Can MBT give me a better spread?...,

Even on the EUR, Or the JPY they're just not as tight As I'd like.

I'm sure MBT is big enough to have access to the same liquidity providers,
So why not bring them in a little?
Um, IB charges a commission per trade and executions are some of the worst out there. Learned that lesson the hard way.
  • #9,440
  • May 14, 2012 2:30pm May 14, 2012 2:30pm
Quoting Nazzcus
Yes, I have a live Forex account with MBT. Last week I tried to set up MT4 on a second computer. I tried the copy config method and even transferred the entire MT4 folder. None of this worked. I contacted support and they advised the password needed to be reset before the second terminal would work. They reset it and the second terminal works fine.

I downloaded the MT4 mobile and the same situation is happening. My live account shows invalid but the demo account works fine. I contacted support and was advised MBT does not support the mobile...
Nazzcus,

As I posted on this thread about a week ago, although it is not yet announced or on our website, you can use the MetaTrader 4 mobile app (Android, iOS, or Windows) with our MT4 accounts (Demo and Live). However, I posted this on this forum as a special advanced notification to our Forex Factory readers. It is not yet posted on our site, and thus, our support team is not aware of it. I was just letting people that follow us regularly on these forums get a head start.

Now, in terms of using it, I am able to login to my live account just fine. As I instructed on a prior thread, if your live account is a Pay for Limits account, when you go to select a broker, you will want MB Trading Futures as the broker name with –Live in the server title. If you are a FREE EXN account, then you will want MB Trading FX as the broker. I am able to get both to work with my accounts. You should not have to reset a password (nor should you have to do that to put the MT4 Client software on a second computer anymore since we eliminated the RSA keys). So, I’m happy to help you out. Our Support team will be aware of the MT4 Mobile app next week when we roll it out, but if you email me your details (after reading the above), I can have someone contact you that can get you going on Monday.
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