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MB Trading Futures - Introduction

  • #9,821
  • Aug 10, 2012 10:34am Aug 10, 2012 10:34am
Quoting pips4life
Justin,

The MT4 Mobile apps are still -afaik - completely dead w.r.t MBT Live accounts! I called the trade desk last night and was told it's an issue they're aware of but that it's up to MetaQuotes to fix it, and they had no estimate as to when.

Can you please light a fire under their feet and get this back up and running?

Pips4life
Pips4life,

You should be able to connect to a PFL account using MT4 Mobile. If you can’t, try uninstalling and reinstalling the app on your phone and then setting up the account and it should work. Or, I’m told if you just wait until Sunday, it will work again. I was able to connect by uninstalling and reinstalling.

MT4 Mobile for FREE EXN accounts, unfortunately, is going to take a couple of weeks for reasons that I can’t get into at the moment.
  • #9,822
  • Aug 10, 2012 1:55pm Aug 10, 2012 1:55pm
Quoting jleblang
Pips4life,

You should be able to connect to a PFL account using MT4 Mobile. If you can’t, try uninstalling and reinstalling the app on your phone and then setting up the account and it should work. Or, I’m told if you just wait until Sunday, it will work again. I was able to connect by uninstalling and reinstalling.

MT4 Mobile for FREE EXN accounts, unfortunately, is going to take a couple of weeks for reasons that I can’t get into at the moment.
Ok Justin, thanks.

Fyi, when I first encountered the problem, I did try what you said, which is an uninstall/reinstall of the Metatrader4 app. It's just that when I reinstalled it, there were no MBT "Live" servers shown.

But just now, I did an uninstall and reinstall, and now the Live servers show up. My PFL live account uses the "MBTrading-Live Server", by broker "MB Trading Futures, Inc.". There is another "MBT-Live Server" by broker "MB Trading Forex" but that's not for me (and if it's for Free EXN, then as you said it won't work for a couple of weeks yet).

FYI, the names of the two Demo servers are confusing since they both have "Pay For Limits" in the name... but as I don't use those Demo servers I don't really care about them.
  • #9,823
  • Aug 11, 2012 9:58am Aug 11, 2012 9:58am
Quoting Crassius
The more parts anything has, each of which have to work individually and together, the greater the likely-hood of failure.

MT4 is a platform that is only popular because it is the first one traders, who are often new to trading and attracted by the low initial start up costs of spot FX try.

MT4 is free and traders get married to it, not realizing they are using an inferior dumbed down platform that was designed from the ground up to fleece them in a deal desk operation, most egregiously with the infamous Virtual Dealer Plugin.

It continues...
I usually make arguments like this when mt5 is compared to mt4. I always say that mt5 is what mt4 should have been first time around in terms of functionality. I agree with you that mt4 was designed for market makers initially and had to do a lot of back end workarounds and hacks to get it to work for an exchange or ecn setup.

But the plus side is that the de facto status of mt4 being a standard platform throughout forex industry is (for the trader) the ease in which you can test several brokers simultaneously. Ready access to full automation and/or custom scripts and indicators. Where else can a trader get supported programming ability, free charts and datafeed in a one-stop shop? Maintaining an independent front-end platform, especially one that has programming language is no easy feat. GFT's dealbook FX eventually did away with programming support, which was a real shame (they added mt4 instead to deal with automated trading).
We'll have to see when mt5 becomes more popular, especially if futures brokers start offering mt5. It was interesting to see how metatrader revolutionized retail forex. Other platforms exist: SierraChart, wave59, amibroker, strategy runner, multicharts, ninjatrader, etc. interesting to see why many more forex brokers did not contract them out for their front end.

I still have a lifetime license to multicharts from way back. Haven't used it in a while.
Measure trends automatically with zero lag
  • #9,824
  • Aug 11, 2012 10:25am Aug 11, 2012 10:25am
Quoting ybfjax
I usually make arguments like this when mt5 is compared to mt4. I always say that mt5 is what mt4 should have been first time around in terms of functionality. I agree with you that mt4 was designed for market makers initially and had to do a lot of back end workarounds and hacks to get it to work for an exchange or ecn setup.

But the plus side is that the de facto status of mt4 being a standard platform throughout forex industry is (for the trader) the ease in which you can test several brokers simultaneously. Ready access to full automation...
A large part of MT4's popularity is just a result leftover from the days when deal desk's where the only game in town. Of course all those deal desk brokers offered MT4... it gave them the tools they needed to fleece their clients with ease through their deal desk operations, the Virtual Dealer Plug In being the most egregious example.

Software when it is widely adopted has an ecosystem that grows up around it. The ready access to custom indicators etc that you speak of is that ecosystem... it takes initiative on a trader's part to leave that ecosystem behind.... they may have some reprogramming to do. The ecosystem is the glue that keeps them stuck to MT4. That ecosystem grew up though, not because MT4 is such a great platform, but because it is what deal desk operations pushed for their own reasons. The ecosystem is what makes MT4 attractive, not the software.

I use NinjaTrader and have since the day it released Version 7, which added a missing piece that would make it useable with MB. All the things you speak of..."test several brokers simultaneously. Ready access to full automation and/or custom scripts and indicators. Where else can a trader get supported programming ability, free charts and datafeed in a one-stop shop"... are available today in NinjaTrader, multicharts, TradeStation, etc etc.. But aren't free, as most things worth having are.

MB building out DeskTop to support programming custom indicators and automated trading would allow them to offer a free platform that could do those functions that now must be covered by an MT4 implementation that doesn't work, or resigns you to having to pay for software. It most likely will not make me change from NinjaTrader, but at least it would give a free alternative to those who use MT4 for its programmability, but are constantly being burned by an implementation that will never work. Vast resources have been poured into making MT4 work for MB. At some point you have to cut your loses and move on.
  • #9,825
  • Aug 12, 2012 4:02am Aug 12, 2012 4:02am
Quoting Crassius
A large part of MT4's popularity is just a result leftover from the days when deal desk's where the only game in town. Of course all those deal desk brokers offered MT4... it gave them the tools they needed to fleece their clients with ease through their deal desk operations, the Virtual Dealer Plug In being the most egregious example.

Software when it is widely adopted has an ecosystem that grows up around it. The ready access to custom indicators etc that you speak of is that ecosystem... it takes initiative on a trader's part to leave that...
In regards to cutting losses and moving on: Perhaps that ecosystem is much more valuable that we think. It's kind of like a marriage. Your partner may do what you want them to do 70%-80% of the time, and it may have taken years to get the communication and follow-through to that point. But that other 20-30% of the time that you can't stand being in the room with her (or him), you occasionally ask: "is it really cheaper to keep her?" What if it was 60% good and 40% bad? Perhaps it is finally time to replace her. Ok, now besides the separation costs, and the costs of integrating the new girl, what guarantees do we have that the new girl will work out better or worst? If my budget it large enough, I can house them separately and evaluate the performance objectively. Then cut loose the worst performer.

The ecosystem that Metaquotes created is one of the first of its kind for financial markets. Charting software vendors in futures and stocks had the ability to do it; Tradestation, Interactive Brokers, Gain capital, etc all had the capacity to do it, especially considering most 'market making' variables are removed by offering exchange-traded products. But most vendors were concerned with creating the next 'facebook' of charting software that would hopefully catch on with popularity. When someone finally had something good, they kept it to themselves. For the trader, anytime you switch brokers you had to wonder how long it would take to learn the new platform, reprogram indicators, etc in addition to other categories of broker effectiveness (commissions, customer service, products offered, etc).

Now the sierraCharts, AmiBroker, NTs, MCs, etc set out to give more power back to the trader by making their charting (and programming language) broker-independent. I would say they are successful in their own right, mainly because they took some initiative in integrating broker feeds so for the retail trader, it is seemless to put in username/password and connect. (I helped integrate the earlier versions of OpenECry API with MC; many, many hours on live chat). When you have your own charting platform, in theory the only thing necessary is to properly bridge with the API of the new broker, and you could resume your focus on trading. This assumes that you have a competent programmer every-time you need to build or update bridge for each new broker that you test out. And you have the willingness to iron out the bugs for seemless integration.

Metaquotes made it seemless on the retail trader side of things. All I have to do is load up this familiar charting package, copy over my ea's/indicators, see that i'm connected (minus maintenance periods), and then focus my attention on those other broker evaluation criteria (commissions, customer service, products offered, etc). The platform functionality is the same and i don't have to bother with any integration issues. If I have a problem or a question, I have this wonderful part of the ecosystem (forexfactory) that I can come to and get answers. The broker is the one that had most of the hell to deal with actually making the market and bridging the front end. You might argue that retail forex traders are spoiled, but perhaps this type of ecosystem is more closely aligned with traditional wholesale/retail relationships. I might occasionally rant, but I do give most brokers some credit; their job is not always easy.
Measure trends automatically with zero lag
  • #9,826
  • Aug 14, 2012 11:43pm Aug 14, 2012 11:43pm
Quoting pips4life
Ok Justin, thanks.

Fyi, when I first encountered the problem, I did try what you said, which is an uninstall/reinstall of the Metatrader4 app. It's just that when I reinstalled it, there were no MBT "Live" servers shown.

But just now, I did an uninstall and reinstall, and now the Live servers show up. My PFL live account uses the "MBTrading-Live Server", by broker "MB Trading Futures, Inc.". There is another "MBT-Live Server" by broker "MB Trading Forex" but that's not for me (and if it's for Free EXN, then as you said it...

Justin,

The MetaTrader4 "Live" accounts are once again missing, so therefore, MT4 Android (and presumably iPhone??) "Live" accounts are dead for the last 3 hours or so.

I've uninstalled/reinstalled periodically but without success. All symptoms are exactly as they were in my previous posts.

Pips4life
  • #9,827
  • Aug 15, 2012 9:38am Aug 15, 2012 9:38am
Quoting pips4life
Justin,

The MetaTrader4 "Live" accounts are once again missing, so therefore, MT4 Android (and presumably iPhone??) "Live" accounts are dead for the last 3 hours or so.

I've uninstalled/reinstalled periodically but without success. All symptoms are exactly as they were in my previous posts.

Pips4life
Still working here on Android.
  • #9,828
  • Aug 16, 2012 12:47am Aug 16, 2012 12:47am
Quoting IndyTrader
Still working here on Android.

Your post was 15 hours ago. You found it working then, and I see that it's working right now. But 24 hours ago -- for a few hours -- it was definitely down, and I don't think it was just for me alone. As I posted previously, it was down for an extended period (days??) not long ago.

It would be nice if these stability issues with the MT4 mobile platforms are resolved and stay that way. Crossing my fingers...
  • #9,829
  • Aug 16, 2012 1:03am Aug 16, 2012 1:03am
Quoting pips4life
Your post was 15 hours ago. You found it working then, and I see that it's working right now. But 24 hours ago -- for a few hours -- it was definitely down, and I don't think it was just for me alone. As I posted previously, it was down for an extended period (days??) not long ago.

It would be nice if these stability issues with the MT4 mobile platforms are resolved and stay that way. Crossing my fingers...
MT4...MT4...MT4...sucks. But I feel ya.
  • #9,830
  • Aug 16, 2012 1:40am Aug 16, 2012 1:40am
Quoting IndyTrader
MT4...MT4...MT4...sucks. But I feel ya.

It is ever thus.
  • #9,831
  • Aug 16, 2012 4:11am Aug 16, 2012 4:11am
Quoting jleblang
Hello Everyone,

This is Justin LeBlang from EFX Group (MB Trading). As many of you might have noticed we have recently become a preferred broker with Forex Factory.

I am not here to promote EFX Group (MB Trading), but rather invite anyone who has questions to ask them. We look forward to hearing from you soon.

Sincerely,
Hello Justin
I am expecting your answer
hope you will reply
  • #9,832
  • Aug 16, 2012 9:46am Aug 16, 2012 9:46am
Quoting lollipip
Hello Justin
I am expecting your answer
hope you will reply
You want him to reply to himself?
  • #9,833
  • Aug 16, 2012 10:28am Aug 16, 2012 10:28am
Quoting IndyTrader
You want him to reply to himself?
Justin knows very well what I am asking.
so stop making jokes here & please don't reply me
  • #9,834
  • Aug 16, 2012 12:01pm Aug 16, 2012 12:01pm
This is what Lollipip was asking...

Quoting lollipip
(Are) Spot metals ( XAU/USD & XAG/USD ) available for MB Trading UK client ?

There was a mention of it here previously....I don't know the current situation.
http://www.forexfactory.com/showthre...36#post4669036
  • #9,835
  • Aug 16, 2012 12:10pm Aug 16, 2012 12:10pm
Quoting Intu
This is what Lollipip was asking...




There was a mention of it here previously....I don't know the current situation.
http://www.forexfactory.com/showthre...36#post4669036
Thanks Intu !!!!
  • #9,836
  • Aug 16, 2012 1:06pm Aug 16, 2012 1:06pm
Hi all-

As promised, we are now accepting FREE EXN accounts for Desktop Pro. You can open a new account or, in some cases, you can switch commission plans on your existing account if you are flat. To see if your account can be switched, log into our website and go to the Commission Plan tab.

MT4 accounts cannot be switched to Desktop Pro, and you cannot switch MT4 accounts back and forth from FREE EXN to Pay for Limits accounts. Only Desktop Pro accounts can be switched.

The quote feed and execution EXN for Desktop Pro FREE EXN is the same as that for the MT4 FREE EXN, meaning that limit orders for all FREE EXN accounts (Desktop Pro and MT4) are visible to customers on either platform and execute with each other.

If you have any questions, feel free to ask.
  • #9,837
  • Edited 1:33pm Aug 16, 2012 1:16pm | Edited 1:33pm
Quoting jleblang
Hi all-

As promised, we are now accepting FREE EXN accounts for Desktop Pro. You can open a new account or, in some cases, you can switch commission plans on your existing account if you are flat. To see if your account can be switched, log into our website and go to the Commission Plan tab.

MT4 accounts cannot be switched to Desktop Pro, and you cannot switch MT4 accounts back and forth from FREE EXN to Pay for Limits accounts. Only Desktop Pro accounts can be switched.

The quote feed and execution EXN for Desktop Pro FREE EXN is the same...
More choices.. Thanks MB.

Justin, are the liquidity pools of both types of accounts co-mingled? In other words can a Free EXN DeskTop client hit my order on the PFL plan?

What aout the MT4 clients... are they segregated or is everyone co-mingled i.e. every MB customer can hit another customer's order..
  • #9,838
  • Aug 16, 2012 1:50pm Aug 16, 2012 1:50pm
Quoting jleblang
Hi all-

As promised, we are now accepting FREE EXN accounts for Desktop Pro. You can open a new account or, in some cases, you can switch commission plans on your existing account if you are flat. To see if your account can be switched, log into our website and go to the Commission Plan tab...
Do you charge for that swiching?
"hey hey what can I do"
  • #9,839
  • Aug 16, 2012 1:52pm Aug 16, 2012 1:52pm
Quoting roldreth
Do you charge for that swiching?
And can we switch back if we decide its ugly over in Free land?
  • #9,840
  • Aug 16, 2012 2:51pm Aug 16, 2012 2:51pm
Quoting Crassius
More choices.. Thanks MB.

Justin, are the liquidity pools of both types of accounts co-mingled? In other words can a Free EXN DeskTop client hit my order on the PFL plan?

What aout the MT4 clients... are they segregated or is everyone co-mingled i.e. every MB customer can hit another customer's order..
His post states that customers of both platforms (for one comm plan) work off of the same liquidity pool/EXN. So FREE EXN customers, no matter which platform, are trading together.

He has discussed before that they can't overlap the FREE EXN and PFL customers.
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