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MB Trading Futures - Introduction

Quoting Rob Mondave
Justin,
I've been with MBTF since 2007, but lately things have made me suspect you're having trouble:

1. I've submitted 2 support tickets recently and got no reply to either. This is new because I've alway gotten a speedy reply in the past. One ticket was about an issue with execution, and the other was a question about an advanced order type. The first one is certainly an issue I'd expect a reply to.

2. You've been having a LOT of computer problems, such as trouble accessing account balances, trouble accessing the main site, and trouble...
Justin, this is more of what I'm trying to get at. I finally received a response to my very specific question about an advanced order type, and the person suggested I read through the Order Types page on your website. It's as though the guy didn't even read my very specific question. This never used to happen.

So, what's going on over there? Noticeably declining customer support, at least once-monthly server/platform problems and low cash reserves...

Rob
Quoting Rob Mondave
Justin, this is more of what I'm trying to get at. I finally received a response to my very specific question about an advanced order type, and the person suggested I read through the Order Types page on your website. It's as though the guy didn't even read my very specific question. This never used to happen.

So, what's going on over there? Noticeably declining customer support, at least once-monthly server/platform problems and low cash reserves...

Rob
maybe MBT is not as good as before,or something is amiss?? but one thing for sure is that standard definately has declined!
Quoting Rob Mondave
Justin, this is more of what I'm trying to get at. I finally received a response to my very specific question about an advanced order type, and the person suggested I read through the Order Types page on your website. It's as though the guy didn't even read my very specific question. This never used to happen.

So, what's going on over there? Noticeably declining customer support, at least once-monthly server/platform problems and low cash reserves...

Rob
Rob Mondave,

Please forward your request and the response that you got to me ([email protected]) so that I can see it and find out if there was a breakdown in communication. If you were requesting a feature and not asking about how one works, the best method is to post it into MBT Ideas as our tech team and CEO go through all ideas. If you were just asking a question about an existing order type, then I will investigate.

Regarding our net capital, nothing is new there. MB Trading is not just a Forex broker. We are regulated by FINRA, the SEC, the NFA, and have clearing arrangements and relationships with key exchanges that also require capital deposits. We have to maintain all of these capital deposit requirements with each, so there is no reason for us to wastefully store and show extra funds to one of the bodies that requires our deposits. Our company is a multi-asset trading firm with multiple divisions, of which MB Trading Forex (as registered with the NFA and CFTC) is just one piece. I get that some people think that the total capitalization of the firm matters, but as we have seen recently, that isn’t necessarily the case. When you look at our background and all of the registrations that we have maintained for over a decade now (in some cases), I think it paints a better picture of us. As we have said for years on the Forex side, we continue to agree with the higher capital requirements and continue to meet whatever the requirement is.

Regarding the website and quote drop yesterday, it appears that there was an issue with our primary ISP that caused issues with our website and PFL quote feed for a short duration. That was fixed fairly quickly, but there seems to have been login ramifications for some users for various periods of time. This entire incident was outside of our control, and if you’ve been reading this thread long enough, you know that when we have a quote spike or other problem within our control, we admit it and fix it (for example, we had a quote spike 2-3 weeks ago on a few pairs that triggered some erroneous executions, and we emailed everyone immediately, busted the problem trades, and made everyone correct again). Tech problems do occur. If you look back a couple of pages on this thread, someone had posted that we were down, then posted another post that his Internet was down due to a car crash down the street. Things happen, unfortunately, and none of us can account for every little possibility. We have redundancy and a solid backbone of technology, but the bigger piece is that we have 24 hour monitoring of all of our systems so that when something goes wrong, we can react and solve it as quickly as possible. In terms of yesterday’s outage, FREE EXN was not affected (could login and trade the whole session, no problems). PFL quotes and logins were down for 20 minutes or so twice, although Limit orders that were in the system would have still executed. The trade desk could still execute for you. The website was down during those same periods. Other than that, we were up and had the majority of our traders connected and trading fine, although some, particularly out of the US but also a handful within the US, took extended periods to be able to connect with us again.

Hope that helps.
Quoting wannatradefx
Why does it seem to me that there are some issues with MB website blocked IP address out of US in some countries? I have never seen the website down (maybe for a maintenance upgrade, granted, I have no need to go there every moment of every day), but there seem to be people that can never access the site, at least if you assume they are real and their stories are real. Justin, is it possible that this isn't about your site servers but about some strange IP blocking outside the US?
Maybe those people are behind a Sonic Wall or something similar and they don't even know it?
Quoting jleblang
Regarding our net capital......... there is no reason for us to wastefully store and show extra funds to one of the bodies that requires our deposits. Our company is a multi-asset trading firm with multiple divisions, of which MB Trading Forex (as registered with the NFA and...
It kind of reminds me of that bumper sticker " MY OTHER CAR IS A FERRARI"

And by the way I'm a billionaire. My investments are locked in long term investments so the future is garanteed.

THE PROBLEM IS THE HERE AND NOW!!
Quoting QuadrupleX
And by the way I'm a billionaire. My investments are locked in long term investments so the future is garanteed.

THE PROBLEM IS THE HERE AND NOW!!
QuadrupleX: The first rule of billionaire club is DO NOT TALK ABOUT BILLIONAIRE CLUB.
It seemed to me that the issues were very minimal. I didn't have any issues with the charts. Everything seems to be fixed and working fine.
Quoting BruceK
It seemed to me that the issues were very minimal. I didn't have any issues with the charts. Everything seems to be fixed and working fine.
It was minimal for me on the East Coast of the US running Desktop feeding NinjaTrader. I stayed connected to the price feed and had only intermittent self resolving disconnections/re-connections to the trade server.

I only ran one trade that day which had no problems. No one has 100% up time, and phone trading was apparently available as they made extra effort to get the numbers out by sending an alert message with an alternate number.
Quoting Crassius
It was minimal for me on the East Coast of the US running Desktop feeding NinjaTrader. I stayed connected to the price feed and had only intermittent self resolving disconnections/re-connections to the trade server.

I only ran one trade that day which had no problems. No one has 100% up time, and phone trading was apparently available as they made extra effort to get the numbers out by sending an alert message with an alternate number.
Pretty much exactly what I experienced.
I actually just started using MB not too long ago after looking around for a replacement for TD which I used for a couple of years. TD had a good platform IMO but I was looking to reduce my commissions and from reading other advice came upon MB. So far it's been good for me. I'm glad I found this forum too where others are discussing when/if issues do arise.
LOL as always damaging control from MBeta Trading in full speed.
Quoting QuadrupleX
LOL as always damaging control from MBeta Trading in full speed.
Starts with L, ends with R. Five letters. Aw, fuck it. LOSER. That would be you.

Do tell, if you are even a trader, which, I'm guessing more along the lines of an employee of a non-US broker, but either way, WHAT BROKER DO YOU USE THAT IS SO PERFECT?

My experience with MBT over 5 years is virtually flawless. Never had a trade problem that they didn't fix. What you got? Or are you just here to bash and call names?
FXChant Singing the World of Forex
Quoting fxchant
My experience with MBT over 5 years is virtually flawless. Never had a trade problem that they didn't fix. What you got? Or are you just here to bash and call names?
I can only second that
Quoting JanPoko
I can only second that
Third
I agree, the discussion culture on this board is quite the bottom of the barrel. In the last few days we had accusations that Oanda is a scam, Citi is a scam and now MBT apparently too. The problem with boards like these is that the discussion gets monopolized by vocal clowns and wannabes, while people who would have actually something to contribute get put off by the amount of stupidity, and stop posting. Its like a self-reinforcing feedback-loop of bullshit.
Justin,
This is something I alluded to in what I wrote last week:

Quoting Rob Mondave
2. You've been having a LOT of computer problems, such as trouble accessing account balances, trouble accessing the main site, and trouble with the trading platform.
Today I can't access my account balance and trade history - again. This has been a chronic problem for the better part of the past year. In the past I've contacted MB Trading and was informed that they're aware of it and are trying to fix it. But another repeating problem occurs about once every two or three months, where I, and apparently other traders, get logged-out and a message appears saying someone has logged-in on a different computer. MB Trading is aware of this, as well, but these issues aren't getting solved. MB Trading's computer problems aren't just a one-time-only ISP issue, like last week, and this makes me uneasy.

Rob
Quoting Rob Mondave
Justin,
This is something I alluded to in what I wrote last week:



Today I can't access my account balance and trade history - again. This has been a chronic problem for the better part of the past year. In the past I've contacted MB Trading and was informed that they're aware of it and are trying to fix it. But another repeating problem occurs about once every two or three months, where I, and apparently other traders, get logged-out and a message appears saying someone has logged-in on a different computer. MB Trading is aware of this,...
You talking about on the website? I just logged in and pulled up my trade history. If you aren't talking about in the website when you click on your account number in the Forex tab, make it clearer what you are referring to. I just tried myself because I always want to check on these mysterious issues that some people report, but they don't seem to be there when I check. Are you in the US or out?
Quoting IndyTrader
You talking about on the website? I just logged in and pulled up my trade history. If you aren't talking about in the website when you click on your account number in the Forex tab, make it clearer what you are referring to. I just tried myself because I always want to check on these mysterious issues that some people report, but they don't seem to be there when I check. Are you in the US or out?
Hi, thanks. Yes, I'm in the US, and I was trying to access my account information through the website. Your post was about an hour after mine, so they likely cleared-up the issue between my log-in and your log-in; I can access it now.

This is an on-going problem for them. I wrote to tech support a few months ago and they said they were aware of the issue. I first started having this problem roughly a year ago, maybe 9 to 15 months. If it was unique to me, I'd look to my browser or similar as the cause, but since they recognize the problem it appears to affect all or most of their clients. But if the problem is intermittent and short-lived, maybe it's something like server overload on their end.
I've made a few posts over the last week wondering about MB Trading's viability. After lengthy e-mails with Justin and another higher-up I just want to resolve the questions I raised.

First, about their financial strength, I was basing my question solely on the CFTC reports. What the report doesn't show is the actual strength of MB Trading as a whole company, not just their Forex division, and I believe their overall financial strength is more than sufficient. This was my misunderstanding.

Second, about the support tickets which received no (or a slow) response, both were cleared-up thoroughly and they acknowledged that the one which received no response was a mistake on their part and apologized.

Third, about their computer problems, there still seems to be a some question, but I believe any problems which might still exist are just minor and affect only a few people.

My feelings about the company have reversed 180 degrees, I'm glad I was able to work things out with them. I've been with them since 2007 and plan to stay with them.
Quoting jleblang
Guys -

The MBT Mobile iPhone app has been updated with many of the comments we've received here and directly from our clients.

What's in this version:

 

  1. Position Details in FX Board
  2. New Forex symbol added
  3. Volume Chart On/Off provided under studies tab
  4. Chart Pinch Zoom In/Out
  5. Added ability to import watchlists

Bug Fixes in this version:
[list][*]Account positions are cached if you log out of 1 account and log in with a different account[*]Permission issue when trading or getting quotes[*]Updated...

The latest release for MBT Mobile iPhone app has now been up over a week and so far the feedback tells us the main issues are gone. Anyone experiencing anything different?
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