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MB Trading Futures - Introduction

  • #9,941
  • Sep 27, 2012 10:21am Sep 27, 2012 10:21am
My English isn't perfect but I wanted to give my opinion:

Do they seriously call someone who get 20% of executions doing "ultra-high frequency FX trading" ?

They constantly modify their policy since the beginning of the year in their favor.
First, they increased the difference between the commission for market order($2.95 before, $1.95 now) and the one for the limits($1.95 before, $0.5 now) which makes a difference of $1 before and $1.45 now, especially after all the advertising they made about the payment of limit orders.

Then they started to charge more than the actual NFA rule (they charge MB $0.002 per message, not $0.005) and finally they also increase the rate at which they tax us with this rule.

I have to say that I was really enthusiastic at the beginning but now I'm very disappointed.
  • #9,942
  • Sep 27, 2012 10:50am Sep 27, 2012 10:50am
Quoting cr8zy
My English isn't perfect but I wanted to give my opinion:

Do they seriously call someone who get 20% of executions doing "ultra-high frequency FX trading" ?

They constantly modify their policy since the beginning of the year in their favor.
First, they increased the difference between the commission for market order($2.95 before, $1.95 now) and the one for the limits($1.95 before, $0.5 now) which makes a difference of $1 before and $1.45 now, especially after all the advertising they made about the payment of limit orders.

Then...
in my opinion,MBT is starting to lose its clients...if they dont 'wake up' soon,they r simply too many brokers around nowadays
  • #9,943
  • Sep 27, 2012 1:34pm Sep 27, 2012 1:34pm
If you want to buy/sell 100K you could send 100 separate 1000 unit orders and get lots of free messages. Probably not what MB had in mind tho..
  • #9,944
  • Sep 27, 2012 1:54pm Sep 27, 2012 1:54pm
Quoting shrike
If you want to buy/sell 100K you could send 100 separate 1000 unit orders and get lots of free messages. Probably not what MB had in mind tho..

Yeah, I thought of that too...

You send your entry order in the smallest tradable lot size (1000) and then manage the order in larger chunks.

This reminds me of an airline.... we have the lowest fare in town, but that's because we break up the actual cost to the consumer and whack him with fee after fee, obscuring the total cost.... or at least they think they are.
  • #9,945
  • Sep 27, 2012 2:23pm Sep 27, 2012 2:23pm
Quoting tradeoffice
I am a HFT trader, and I am tired that they change their trading rules so often, and they inform us only 48h in advance.
It is hard to respect this 20% rule because in desktop pro only canceled orders and filled orders are counted, not the modified orders. So you have to do your own count.
Furthermore, I have a UK account, and I didn't received any email ...
How does 32 days equal 48 hours?
  • #9,946
  • Sep 27, 2012 2:26pm Sep 27, 2012 2:26pm
Quoting cr8zy
My English isn't perfect but I wanted to give my opinion:

Do they seriously call someone who get 20% of executions doing "ultra-high frequency FX trading" ?

They constantly modify their policy since the beginning of the year in their favor.
First, they increased the difference between the commission for market order($2.95 before, $1.95 now) and the one for the limits($1.95 before, $0.5 now) which makes a difference of $1 before and $1.45 now, especially after all the advertising they made about the payment of limit orders.

Then...
Um, this is where you are missing the point. The NFA charges them 0.002 per message, period. All messages. What they are trying to do is not pass that on to the average trader, but to pass it on to the people that, as others have said, burden the system (and put it at risk to all of us) without actually doing anything that generates business.
  • #9,947
  • Sep 27, 2012 2:27pm Sep 27, 2012 2:27pm
Quoting shrike
If you want to buy/sell 100K you could send 100 separate 1000 unit orders and get lots of free messages. Probably not what MB had in mind tho..
LOL. That's awesome.
  • #9,948
  • Sep 27, 2012 2:35pm Sep 27, 2012 2:35pm
Quoting IndyTrader
Um, this is where you are missing the point. The NFA charges them 0.002 per message, period. All messages. What they are trying to do is not pass that on to the average trader, but to pass it on to the people that, as others have said, burden the system (and put it at risk to all of us) without actually doing anything that generates business.

I disagree.... the structure now does pass the fee onto the average user...

The fee structure before this change did exactly what you are arguing...

Quoting jleblang
Signorx,

That is correct. The service charge is for clients engaging in ultra-high frequency FX trading, which results in a high number of order message requests with minimal trade executions. However, it is important to note, this is an NFA fee associated with trade reporting cost, not an MBT fee and we are merely passing it through.

The high frequency message fee only applies to clients who have less than 10% executions of the total messages sent and further that send in excess of 100 requests per symbol per day. These requests...

They have now eliminated the "above 100 messages per day per symbol" language, under which non HFT clients would almost always fly....

and they have changed from a 1 execution per 10 messages, to 1 execution per 5 messages.....
  • #9,949
  • Sep 27, 2012 3:20pm Sep 27, 2012 3:20pm
Quoting Crassius
I received the folowing email last night....
Crassius-

I apologize for the confusion on this issue. The email that you received was to address the fact that there is a change in the RATIO of trades when calculating the HFT fee. The minimum of 100 messages per symbol per day still stands. It was not addressed in the email because it was not changing, but I could see how it might have been confusing.

It is $0.005 per message if your ratio of executions to messages is less than 20% and if you are over 100 messages in that symbol.
  • #9,950
  • Sep 27, 2012 4:17pm Sep 27, 2012 4:17pm
Quoting jleblang
Crassius-

I apologize for the confusion on this issue. The email that you received was to address the fact that there is a change in the RATIO of trades when calculating the HFT fee. The minimum of 100 messages per symbol per day still stands. It was not addressed in the email because it was not changing, but I could see how it might have been confusing.

It is $0.005 per message if your ratio of executions to messages is less than 20% and if you are over 100 messages in that symbol.

Thanks for the clarification.

Your changes make a lot more sense in that light.
  • #9,951
  • Sep 28, 2012 1:47am Sep 28, 2012 1:47am
Quoting IndyTrader
How does 32 days equal 48 hours?
Thanks for the correction, I read to quickly
  • #9,952
  • Sep 28, 2012 2:00am Sep 28, 2012 2:00am
Quoting Crassius
Thanks for the clarification.

Your changes make a lot more sense in that light.
Let me get this straight. You guys thought that MB Trading was going to start a policy where they would charge you for everytime you changed a T/P or S/L when you had no executions that day? Seriously? Even though the email never mentioned a change in the minimum?

Frankly, if I'm them (or probably any decent broker), I would just give up. In the last few years, they have launched Pay for Limits (no one else does this). They have lowered spreads and lowered the comms on the Pay for Limits plan (someone here referenced it like they raised commissions recently, they have only lowered them). They have complied with every darn piece of junk regulation and NFA nonsense change. They've been around forever under the SEC and NASD (FINRA). What else can a broker do? You have all of these clowns that would rather give their money to a "broker" in the Caymans that gives them amazing fills until they can't get their deposit back. It's just crazy. Find a good broker in a well regulated country with a background in multiple asset classes that is lowering spreads and commissions year over year. You've got like THREE choices, and MB is one of them, but people bitch and bitch and bitch.
FXChant Singing the World of Forex
  • #9,953
  • Sep 28, 2012 2:26am Sep 28, 2012 2:26am
Hi,

I guess you are referring to the HFT which i have aware thru the email MBT sent. What a disappointing thing they did to their customers isn't it?

Until now i still not sure how they are going to "punish or rob" money from loyal customer like us!! From my understanding, I guess we can't even modify our TP or SL that we set, once you do that they will start charging trader like hell!

As a scalper for years, i need to trade and exit trades in and out, constantly adjust my profit and loss target depend on market condition. what they are introducing now is a clear messages that I cannot scalp.

Please! Look at the forex market nowadays, they are no more like the good old day where GBP and EUR can fly commonly 200 to 300 pips a day. Anyone who understand chart should understand what i said, ut us not easy to trade forex without adjusting your profit and loss target.

SHEK




Quoting fxchant
Let me get this straight. You guys thought that MB Trading was going to start a policy where they would charge you for everytime you changed a T/P or S/L when you had no executions that day? Seriously? Even though the email never mentioned a change in the minimum?

Frankly, if I'm them (or probably any decent broker), I would just give up. In the last few years, they have launched Pay for Limits (no one else does this). They have lowered spreads and lowered the comms on the Pay for Limits plan (someone here referenced it like they raised commissions...
  • #9,954
  • Sep 28, 2012 2:31am Sep 28, 2012 2:31am
Quoting yyc196
Hi,

I guess you are referring to the HFT which i have aware thru the email MBT sent....

SHEK
When they restated their policy they left out a key phrase...

Quoting jleblang
Crassius-

I apologize for the confusion on this issue. The email that you received was to address the fact that there is a change in the RATIO of trades when calculating the HFT fee. The minimum of 100 messages per symbol per day still stands. It was not addressed in the email because it was not changing, but I could see how it might have been confusing.

It is $0.005 per message if your ratio of executions to messages is less than 20% and if you are over 100 messages in that symbol.
With that phrase clarified now as still applying you'll not incur this fee unless you are a HFT.
  • #9,955
  • Sep 28, 2012 2:42am Sep 28, 2012 2:42am
Quoting fxchant
Let me get this straight. You guys thought that MB Trading was going to start a policy where they would charge you for everytime you changed a T/P or S/L when you had no executions that day? Seriously? Even though the email never mentioned a change in the minimum?

Frankly, if I'm them (or probably any decent broker), I would just give up. In the last few years, they have launched Pay for Limits (no one else does this). They have lowered spreads and lowered the comms on the Pay for Limits plan (someone here referenced it like they raised commissions recently, they have only lowered them). They have complied with every darn piece of junk regulation and NFA nonsense change. They've been around forever under the SEC and NASD (FINRA). What else can a broker do? You have all of these clowns that would rather give their money to a "broker" in the Caymans that gives them amazing fills until they can't get their deposit back. It's just crazy. Find a good broker in a well regulated country with a background in multiple asset classes that is lowering spreads and commissions year over year. You've got like THREE choices, and MB is one of them, but people bitch and bitch and bitch.
^^ ybfjax likes this.

And good on MBtrading for keeping the minimum threshold of 100 orders in tact. On website and future printed material, mb should do their best to present the rules in their entirety to avoid this very type of reaction.
Measure trends automatically with zero lag
  • #9,956
  • Oct 4, 2012 6:21am Oct 4, 2012 6:21am
Why do I always get an "order reject" message whenever I try to place an order on certain NZD pairs (such as GBP/NZD)?

Does anyone know why these pairs are "prohibited" and who is actually allowed to trade them?
  • #9,957
  • Oct 4, 2012 7:29am Oct 4, 2012 7:29am
I can't login ... Anybody else with the same issue ?
  • #9,958
  • Oct 4, 2012 7:37am Oct 4, 2012 7:37am
Quoting tradeoffice
I can't login ... Anybody else with the same issue ?
I got knocked off about 2 hours ago, but restart logged me right in and no problems since.
  • #9,959
  • Oct 4, 2012 7:42am Oct 4, 2012 7:42am
Quoting Crassius
I got knocked off about 2 hours ago, but restart logged me right in and no problems since.
I closed Desktop pro 15mn ago, and no way to login since, nor from my VPS, nor from my office ...
  • #9,960
  • Oct 4, 2012 7:52am Oct 4, 2012 7:52am
Quoting tradeoffice
I can't login ... Anybody else with the same issue ?

Same problem here. I have been trying repeatedly for the last 30 minutes with no success (Dallas, TX)
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