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MB Trading Futures - Introduction

  • #9,461
  • May 17, 2012 1:58am May 17, 2012 1:58am
Quoting ForexQuant
Just like what happened to the MT4 freeze on PFL a few months ago, Justin wont entertain this kind of complaint unless more and more people making noise.

Oh ya we should contact their support instead of complain here, but I guess their support will say this is not their problem without doing any investigation.
ForexQuant,

Actually, quite the opposite. We’re already looking into this issue after the first instance the other day. We hope to have it resolved shortly.
  • #9,462
  • May 17, 2012 5:49am May 17, 2012 5:49am
Quoting jleblang
ForexQuant,

Actually, quite the opposite. We’re already looking into this issue after the first instance the other day. We hope to have it resolved shortly.
Justin,
why I can not see any chart of futures on Corn, Wheat, Soybeans, etc on demo?
What are the proper symbols for them in your platform? ZCN2, ZSN2, ZWN2?
  • #9,463
  • May 17, 2012 6:14am May 17, 2012 6:14am
Hi Justin,

In case of Greek exit from Euro, MB Trading will offer Greek cross by day 0?

Thanks
  • #9,464
  • May 17, 2012 8:43am May 17, 2012 8:43am
Quoting Crosslock
I pay 2.95US a side per 100K (price scaled) with MBT for a tighter spread, I get paid 1.95 for liquidity on limits



I pay 2.50US a side per 100k Blocks (no scaling) with IB, no credit for liquidity.

I Care nothing about the commission because they are reasonable and small size scalable with MBT is a better bargain for smaller trade size.

The query is about the spread!

The matter is 3.5 pips on MBT costs $70US round turn per 100K

With IB I can do the same RT for $20US per 100k

AND I have no execution issues at all with IB ECN after 5 years...

Difference is in execution location: about $50 due to spread, that's 5 pips per RT

The fact that MBT also allows commission free trading with a slightly wider spread calls into question whether the commissioned model might also have a spread built in as well.

So all ECNs are not equal
Most likely MB trading have marked up their spreads with their commissioned model although it may be less than their commission Free EXN model. I'm saying this based on the explanation of ECN/STP broker model given here http://www.100forexbrokers.com/dma-direct-market-access

Of course there is no real ECN for retail forex brokers hence the reason why the NFA has changed its definition of a Forex ECN such that brokerages that accept retail customers cannot be deemed an ECN so MBT is now using EXN to describe what they were offering all alone, which is matching the orders of their own clients first with a spread markup, otherwise passing the order via STP to the liquidity providers also with a spread markup. It's good to know exactly what you are getting so please correct me if I'm wrong.
  • #9,465
  • May 17, 2012 9:10am May 17, 2012 9:10am
Quoting jleblang
ForexQuant,

Actually, quite the opposite. We’re already looking into this issue after the first instance the other day. We hope to have it resolved shortly.
Great to hear that.

FYI the Free EXN is freezing now, right after the news release of Philly Fed Manufacturing Index.

Judging from my tick chart, I suspect the freeze is caused by negative spread again.
  • #9,466
  • May 17, 2012 9:22am May 17, 2012 9:22am
Quoting ForexQuant
Great to hear that.

FYI the Free EXN is freezing now, right after the news release of Philly Fed Manufacturing Index.

Judging from my tick chart, I believe the freeze is caused by negative spread again.
Yup. As someone mentioned a few posts ago, MBT might have the tightest spreads, highest volume, and best execution but when it comes to platform stability, I rate it very poorly.

This is not the only issue that I have come across with MBT. I have had orders executed and closed with a loss when price has been nowhere near it. Granted, MBT refunded the money and the customer service is good, however, these types of issues including the negative spreads should not be happening.

MT4 as a platform in general is very poor and when compounded with stability issues of the EXN platform, which clearly is still in BETA, I simply cannot trust it as a platform to trade from.
  • #9,467
  • May 17, 2012 9:26am May 17, 2012 9:26am
Quoting bbakker
Yup. As someone mentioned a few posts ago, MBT might have the tightest spreads, highest volume, and best execution but when it comes to platform stability, I rate it very poorly.

This is not the only issue that I have come across with MBT. I have had orders executed and closed with a loss when price has been nowhere near it. Granted, MBT refunded the money and the customer service is good, however, these types of issues including the negative spreads should not be happening.

MT4 as a platform in general is very poor and when compounded...
Gosh I got flamed here before for questioning MB(eta) platform issues!

By the way your post looks like my posts about oanda in the past. Maybe oanda and MB(eta) are sisters.
  • #9,468
  • May 17, 2012 9:43am May 17, 2012 9:43am
Quoting global3
Most likely MB trading have marked up their spreads with their commissioned model although it may be less than their commission Free EXN model. I'm saying this based on the explanation of ECN/STP broker model given here http://www.100forexbrokers.com/dma-direct-market-access

Of course there is no real ECN for retail forex brokers hence the reason why the NFA has changed its definition of a Forex ECN such that brokerages that accept retail customers cannot be deemed an ECN so MBT is now using EXN to describe what they were offering...
MB's website was always very clear that this is exactly what they were. I've been with them for 6 years and they were the pioneer in the field, doing the customer crosses before anyone else, but at the end of the day, the market is too big and you always have to have major banks to route to. Either that, or you have to be a deal desk and handle the executions yourself, which means taking on risk and, of course, when that risk gets too high, giving bad executions to "make up" for the losses. I don't trade on news, it's futile. Most of the desks will show you good executions long enough to get you hooked and then screw you. I think what most people don't get is MB's greatest strength is probably what causes the issues on news. Their system is designed to look at 12-20 banks at any millisecond and send the order to the one with the best price. If that bank is gone by the time the order gets there, they get a decline back, and they send to the next bank. In a stable market, probably most orders execute against the first bank because they aren't moving. Even if it goes to one, gets rejected, comes back, and then out to another, the execution probably seems fast. But on news, when you have everyone moving out of the way as fast as possible, what exists one millisecond is not close to the same a millisecond later, and the system can't lock into a stationary target that remains and accepts the fill by the time (a few milliseconds later) the order gets there. That's why you get the issues on news. It isn't MB doing anything wrong, it's just a consequence of their system, which is otherwise set up ideally for traders for the other 99.9% of the day. That's my guess, anyway, after being with them for so long. That's why you see the haters on this board whine so much about the news moves, because they want to be able to trade those spikes and they think they should be able to get those fills, which isn't realistic, but also, it just happens to be the weak point of MB's system. Now, maybe these recent lock ups and freezes on FREE EXN are a slightly different deal, but in general, that's how I think the issues go with news.
  • #9,469
  • May 17, 2012 9:52am May 17, 2012 9:52am
Quoting QuadrupleX
Gosh I got flamed here before for questioning MB(eta) platform issues!

By the way your post looks like my posts about oanda in the past. Maybe oanda and MB(eta) are sisters.
Now that is a silly statement.

MBT EXN is a relatively new service/platform and has only been around for a few months, so I thought I would give it a test drive. It ticks all the boxes apart from the platform issues. I cannot speak for the other MBT platforms. It is clear that they still have teething issues on the EXN platform but I for one am not going to be their guinea pig.

Justin and my MBT contact have acknowledged the issues that we/I have reported and stated that they are working on it. In the mean time, I will take my business elsewhere.

As previously stated, I will keep my account open and check it out again later down the line when it is hopefully more stable and a platform that can be trusted.

If you got flamed, it must be the language you used. Staying calm and objective is key when one has issues, mouthing off gets you nowhere, nor do silly statements that are completely fictional that just irritate and put people's back up! Next time, choose your words carefully.
  • #9,470
  • May 17, 2012 9:53am May 17, 2012 9:53am
Quoting wannatradefx
MB's website was always very clear that this is exactly what they were. I've been with them for 6 years and they were the pioneer in the field, doing the customer crosses before anyone else, but at the end of the day, the market is too big and you always have to have major banks to route to. Either that, or you have to be a deal desk and handle the executions yourself, which means taking on risk and, of course, when that risk gets too high, giving bad executions to "make up" for the losses. I don't trade on news, it's futile. Most of the desks...
Excellent post
  • #9,471
  • May 17, 2012 9:59am May 17, 2012 9:59am
just dropping in to see if any progress has been made integrating Trade Interceptor app


would definitely make me fund my MBT account
  • #9,472
  • May 17, 2012 10:00am May 17, 2012 10:00am
Quoting bbakker
Now that is a silly statement.

MBT EXN is a relatively new service/platform and has only been around for a few months, so I thought I would give it a test drive. It ticks all the boxes apart from the platform issues. I cannot speak for the other MBT platforms. It is clear that they still have teething issues on the EXN platform but I for one am not going to be their guinea pig.

Justin and my MBT contact have acknowledged the issues that we/I have reported and stated that they are working on it. In the mean time, I will take my business elsewhere....
LOL! why you post complaints just to turn and defend a company that spits out products in beta?

Anyways when you see the effects of platform disconnections in your account you may start to go after your rights and stop babying a broker that is on the market long enough to know better.

Anyways keep voting with your money, it does not bother me!
  • #9,473
  • May 17, 2012 10:01am May 17, 2012 10:01am
Quoting bbakker
Yup. As someone mentioned a few posts ago, MBT might have the tightest spreads, highest volume, and best execution but when it comes to platform stability, I rate it very poorly.

This is not the only issue that I have come across with MBT. I have had orders executed and closed with a loss when price has been nowhere near it. Granted, MBT refunded the money and the customer service is good, however, these types of issues including the negative spreads should not be happening.

MT4 as a platform in general is very poor and when compounded...
Hence, don't use MT4. As stated so many times on this board...MT4 plus MBT's matching model just doesn't work. Use Desktop Pro and PFL until Desktop Pro and Free EXN is released. Justin says they are working on it.

In the end, anybody can find any reason to complain about any broker. There is not a perfect one, otherwise we'd all be trading with them. It is upon each trader to analyze their needs and seek a provider that best satisfies those needs. If you need MT4, I wouldn't suggest MBT. If you need tight spreads, there maybe someone else. Etc, etc... What I need is a stable platform, reasonable spreads, reasonable execution, and decent customer support, and MBT satisfies those needs. 1000's of trades with no complaints...

Just my MBT Fan Boy 2 pips...

BroncoCap
  • #9,474
  • May 17, 2012 10:08am May 17, 2012 10:08am
Quoting QuadrupleX
LOL! why you post complaints just to turn and defend a company that spits out products in beta?

Anyways when you see the effects of platform disconnections in your account you may start to go after your rights and stop babying a broker that is on the market long enough to know better.

Anyways keep voting with your money, it does not bother me!
Nor can you read... like I stated several times, I have withdrawn my money and moved to another broker. I can now see why you got flamed.

Bye
  • #9,475
  • May 17, 2012 10:20am May 17, 2012 10:20am
Quoting bbakker
Nor can you read... like I stated several times, I have withdrawn my money and moved to another broker. I can now see why you got flamed.

Bye
I only can read what you write pal!

You complain about the broker.

I agree with your complain.

You complain about my post.

I post about your flip-flop.

You complain about my post.

  • #9,476
  • May 17, 2012 10:30am May 17, 2012 10:30am
Quoting QuadrupleX
I only can read what you write pal!

You complain about the broker.

I agree with your complain.

You complain about my post.

I post about your flip-flop.

You complain about my post.

Prat
  • #9,477
  • May 17, 2012 10:38am May 17, 2012 10:38am
Quoting bbakker
Yup. As someone mentioned a few posts ago, MBT might have the tightest spreads, highest volume, and best execution but when it comes to platform stability, I rate it very poorly.

This is not the only issue that I have come across with MBT. I have had orders executed and closed with a loss when price has been nowhere near it. Granted, MBT refunded the money and the customer service is good, however, these types of issues including the negative spreads should not be happening.

MT4 as a platform in general is very poor and when compounded...
I dont blame MB for the freezing issue because MT4 is not designed for ecn broker. If you had followed the freezing issue on PFL a couple months ago, you will know that MT4 is not designed to handle negative spread and the problem mainly caused by their LP.

Move to other broker? Not yet, i still got faith on MB. There are not many honest broker left in the market.
  • #9,478
  • May 17, 2012 12:49pm May 17, 2012 12:49pm
Quoting bbakker
Prat
Stop bothering with him. He's useless. He doesn't understand how a broker can be exactly what someone wants and then that that person might want to be constructive and help make the broker even better in a positive, constructive manner.
  • #9,479
  • May 17, 2012 1:11pm May 17, 2012 1:11pm
Are Plus orders specific to MBT or other brokers also have something similar?

Thanks.
  • #9,480
  • Edited 11:20pm May 17, 2012 11:09pm | Edited 11:20pm
Quoting neuron
just dropping in to see if any progress has been made integrating Trade Interceptor app


would definitely make me fund my MBT account
Perhaps we should let them focus on repairing the brokeass iOS platforms before moving on to new projects.

tl;dr: please fix iOS!
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