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MB Trading Futures - Introduction

  • #9,981
  • Oct 25, 2012 5:19am Oct 25, 2012 5:19am
Quoting JanPoko
Suddenly, when I try to put stop-limit order just some 3 pips below purchase price with a spread of a few pips (like I always did so far), I get "order rejected".
Did I miss some important change in orders placement rules?
(mbt navigator, PFL).
Not aware of any rule changes. I did have to restart DeskTop today just 25 minutes before your post because NinjaTrader gave me the error message "Account unavailable for trading", which it got from DeskTop.

This may be isolated to me, or to the server I am on, which is not necessarily the same server you are on, but.... If I had not restarted at that point, I would likely get "Order Rejected" message.

Restarting cleared whatever the problem was that I had. Restarting is always the first thing I try, after reading the alerts window... which is where NinjaTrader got the message it popped up for me.

Another reason you may have received that is if you did not have the margin to complete the trade you were entering.

Edit: Though of one more reason.... there is some limit to how much you must have on deposit before it will let you make a trade..... $200? or maybe $100?.... unlikely I know that that is the case for you tonight....just being complete.
  • #9,982
  • Oct 25, 2012 6:31am Oct 25, 2012 6:31am
Thanks for the immediate answer Crassius, however, neither is the case. I tried restarting - no remedy. Meanwhile my trade run into red numbers so I did not try stop-limit but only buy limit below my selling price (short trade) and again - the order was rejected. And nothing concerning your account balance remarks apply, in my case. Time to contact support line, I think...
  • #9,983
  • Oct 26, 2012 4:55am Oct 26, 2012 4:55am
Seems I found the cause of that "order recected" fault.
I have been using some older version of mbt navigator (namely 11.5.0.4).
When placing an order, I simply copy the purchase price into the order form by clicking on it. The price then usually has many digits after decimal stop. And suddenly (about a week ago) the order is fulfilled only, when the number of decimal places is reasonable.

For example:
I bought USDCAD for 0.9952875
Trying to put SL order 1 pip above with 2 pip distance and using the copy/paste method will give the order with parameters 0.9953875-0.9955875 - which is then rejected.
Cutting numbers to reasonable length (0.9953-0.9955) will make the order valid.

A strange improvement, indeed.
Could someone please confirm whether this behaviour can be observed in newer versions of the platform?
  • #9,984
  • Oct 29, 2012 11:04am Oct 29, 2012 11:04am
Today, some orders take more than 15s to cancel. Anybody with the same issue ?
  • #9,985
  • Oct 29, 2012 11:31am Oct 29, 2012 11:31am
Quoting tradeoffice
Today, some orders take more than 15s to cancel. Anybody with the same issue ?
Nope
  • #9,986
  • Oct 31, 2012 10:22am Oct 31, 2012 10:22am
Quoting IndyTrader
Nope
lol u still here .....
  • #9,987
  • Oct 31, 2012 10:23am Oct 31, 2012 10:23am
MB Trading folds UK office


forex magnates : "

MB Trading just announced to its traders with accounts in the UK subsidiary that it’ll be moving them to the US subsidiary – the reason is that the UK office is simply isn’t worth maintaining. MB opened the UK office as the wave of US brokers opening offices in additional countries was at its peak – the idea was to move all non US clients to foreign subsidiaries where higher leverage and more flexible conditions could be offered. Non surprisingly though MB’s UK office wasn’t making much money – possibly because it didn’t have much marketing budget and presence or because it wasn’t given enough time, on the other hand the costs kept creeping up. With stagnation in forex volumes and reduced profitability it is now time for many brokers to make hard decisions – some lay off employees while others shut down not profitable offices.

When contacted by Forex Magnates MB Trading CEO Ross Ditlove had this to say: “Our UK operations were designed to offer global customers certain features that we could not offer in the US due to regulatory changes, such as 100:1 leverage. As global Forex volumes have dropped, we have discovered that the demand for those features is not as great as we had anticipated. Our US-based operations are outpacing our UK operations by a significant amount in terms of accounts and trading, and our analysis indicates that it is not necessary or prudent to maintain the operation in the UK from a cost/benefit perspective. The main feature that our customers care about is our true ECN environment, not higher leverage. Our US operations are part of a broader company that offers stocks, futures, options, and Forex trading and has been operating for more than a decade while meeting the tough requirements of the SEC, FINRA, and the NFA.” "
  • #9,988
  • Oct 31, 2012 11:07am Oct 31, 2012 11:07am
Quoting Crassius

The email seems to imply that you are allowed only 5 messages related to this one order.... including the entry order message.

You need 1 for the entry order.

You could easily burn through 2 more messages that don’t fill the first day setting a Stop Loss and a Take Profit

That leaves you only 2 more….
Crassius,

Execution count as 1 message too ... So when you place an order, you will only have 3 messages left.
I recently had this fee applied on a trading day, so I analized the desktop pro log file to see how messages are calculated. It appeared that 1 message may be : new order, modify, cancel and filled.
It is surprising that this is not mentioned in the email MBT sent to customers :
" For example, if you submitted:

100 orders for a symbol + 60 change orders + cancel 40 of the orders = a total of 200 order messages for the day.

Of these 200 messages you received 20 executions (fills) on that symbol for the day, this would be an execution rate of: 20 Executions / 200 messages = 10%.

You would therefore not meet the minimum requirement of 20% fill rate; you would be subject to the $0.005/message fee computed as follows:

200 messages X .005 msg. fee = $1.00, applied on that day’s fee report for that symbol"

I think in that case the fee will be : 220*.005=$1.10
  • #9,989
  • Oct 31, 2012 12:35pm Oct 31, 2012 12:35pm
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.
My confusion on this issue stemmed from the fact that the bolded provision was left out of the email.

It was later clarified by Justin in the above post.

But your point is well taken...
  • #9,990
  • Oct 31, 2012 1:54pm Oct 31, 2012 1:54pm
FF Members:

In the coming days, this thread is being moved to the "Commercial Forum" as we are a broker offering support. If you follow this thread, you won’t have to do anything to continue to receive updates. I will continue to post and answer any questions you might have about MB Trading.

If you have any questions, please let me know.
  • #9,991
  • Oct 31, 2012 6:09pm Oct 31, 2012 6:09pm
Quoting jleblang
FF Members:

In the coming days, this thread is being moved to the "Commercial Forum" as we are a broker offering support. If you follow this thread, you won’t have to do anything to continue to receive updates. I will continue to post and answer any questions you might have about MB Trading.

If you have any questions, please let me know.
Doesn't matter what topic they put it under Justin, we all appreciate your committment to answering our questions.
  • #9,992
  • Nov 5, 2012 5:40am Nov 5, 2012 5:40am
  •  ilove
  • | Joined Dec 2011 | Status: because he first loved us. | 52 Posts
Hi Justin,

My MBT-Free EXN Demo account keeps getting off-quotes error messages when trying to modify or close positions, typically begins from Sunday afternoon after weekend. Do real accounts get this kind of error? If potential customers are unable to trade on demo, why could they open real accounts? Many thanks for the support.
If you can't tell, just wait. The market will.
  • #9,993
  • Nov 5, 2012 9:57am Nov 5, 2012 9:57am
Quoting ilove
Hi Justin,

My MBT-Free EXN Demo account keeps getting off-quotes error messages when trying to modify or close positions, typically begins from Sunday afternoon after weekend. Do real accounts get this kind of error? If potential customers are unable to trade on demo, why could they open real accounts? Many thanks for the support.
No, you don't run into issues like that in the Live environment. They do a lot of updates from time to time in Demo and it sometimes causes orders in place before the update to get stuck. Won't happen in Live.
  • #9,994
  • Nov 5, 2012 10:28am Nov 5, 2012 10:28am
  •  ilove
  • | Joined Dec 2011 | Status: because he first loved us. | 52 Posts
Many thanks IndyTrader. They advised the same. Hope can have less issue in the future as this does affect my EA testing.
If you can't tell, just wait. The market will.
  • #9,995
  • Nov 5, 2012 10:57am Nov 5, 2012 10:57am
Quoting ilove
Hi Justin,

My MBT-Free EXN Demo account keeps getting off-quotes error messages when trying to modify or close positions, typically begins from Sunday afternoon after weekend. Do real accounts get this kind of error? If potential customers are unable to trade on demo, why could they open real accounts? Many thanks for the support.
I have an intense use of my free EXN live account, and bugs are very rare.
  • #9,996
  • Nov 5, 2012 11:37am Nov 5, 2012 11:37am
I ahve a live MB account (3 yrs) and I still have off quotes quite often..It will take a .3 lot and close as .2at one price and .1 at another price or all 3 at diff prices.
  • #9,997
  • Nov 5, 2012 11:50am Nov 5, 2012 11:50am
Quoting sfg7th
I ahve a live MB account (3 yrs) and I still have off quotes quite often..It will take a .3 lot and close as .2at one price and .1 at another price or all 3 at diff prices.
If you close a 0.3 lot position with a market order, then 3 execution prices can occur ! Imagine that the best bid is 1.2802 for 0.1 lot, then the second best is 1.2801 for 0.1 lot and then 1.280 for 1 lot. Then you will have 3 execution prices for a sell market order of 0.3 lot.
  • #9,998
  • Nov 5, 2012 1:05pm Nov 5, 2012 1:05pm
Quoting sfg7th
I ahve a live MB account (3 yrs) and I still have off quotes quite often..It will take a .3 lot and close as .2at one price and .1 at another price or all 3 at diff prices.
This isn't actually a bug. MT4 was not designed for a true market where you can get a partial fill at one price and a partial fill at another price. When this happens, it returns the message "Off Quotes" even though nothing is wrong, you simply had the order split into two fills. It's just how MT4 works in a true ECN environment. Just close the window and you will always see that the entire trade has closed.
  • #9,999
  • Nov 10, 2012 3:57pm Nov 10, 2012 3:57pm
Dear justin,

I would like to know if is possible to trade cme fx options with mb trading, if yes what are the requiments and rules to open options account!

Thank you!
  • #10,000
  • Nov 12, 2012 10:33am Nov 12, 2012 10:33am
Quoting signorx
Dear justin,

I would like to know if is possible to trade cme fx options with mb trading, if yes what are the requiments and rules to open options account!

Thank you!
signorx,

MB Trading does not offer CME FX Options or any FX options for that matter.

POST # 10,000
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