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They aren't CFTC / NFA regulated though. MBT is, which, as I understand, is a good thing. I'm new to the Forex market though so feel free to call me out on that. I'm waiting for MBT to be ready before I go live for the first time.
Not to mention FXOpen makes money off the spread, has a minimum spread and requires traders to close with +/- 4 pip PnL so IB's can be paid. The complete opposite functions of a true ECN.
__________________
Justin LeBlang
Business Development
MB Trading
Stocks. Futures. Options. Forex. justin@mbtrading.com
Not to mention FXOpen makes money off the spread, has a minimum spread and requires traders to close with +/- 4 pip PnL so IB's can be paid. The complete opposite functions of a true ECN.
Hi Justin,
Sorry for posting here. What you write is correct for FXOpen Market Maker. As FXOpen ECN we get profit from commission ONLY and provide users with all true ECN benefits like: partial execution, interbank spreads, Level II software with 5 market depth levels for live accounts, Level II can be installed to the charts as well, minimum depo from 1K and up to 500 leverage, limit orders inside the spread and of course no scalping limits...the technology we created allow us to do this on MT4 so our users can use benefits of MT4+LevelII and real ECN trading. IB cashback scheme for ECN accounts is totally different from FXO MM, the part of commission is paid back. And here is detailed info of our ECN service: ECN Forex Trading with FXOpen broker
P.S. speaking about +-4 pips this is not a headache of the trader, he/she can close a trade at FXO MM anytime it is needed 1 pip or 10 pips, doesn't matter.
Regards.
Are you going to have to follow these god aweful regulations of late by the pinko-commie fag NFA crazies?
Quote:
Originally Posted by MBT_Justin
Hello Everyone,
This is Justin LeBlang from MB Trading. As you might have heard, we recently added MT4 with true ECN & STP execution to our offerings. The product is currently in beta, as such we are seeking traders with META experience to sign up for either DEMO testing or LIVE beta testing to help us filter out any last unknown issues that might exist. We feel confident in bringing the product to market, but as an experienced software company we certainly understand that until it’s been fully tested by the users it was intended for, we won't know for sure if it’s ready to go fully live.
To sign up for a DEMO or LIVE account, please email me directly at justin@mbtrading.com. To help better assist you, please provide a brief summary of your MT4 experience and contact details.
Not to mention FXOpen makes money off the spread, has a minimum spread and requires traders to close with +/- 4 pip PnL so IB's can be paid. The complete opposite functions of a true ECN.
Sorry Justin. I don't want to start debates about our respective companies in here. I just wanted to let you know that MBT isn't the only one with an MT4 ECN solution. (Besides, my boss already came to explain that the above quote from you doesn't apply to our ECN account option )
My post was in good faith and I even told you good luck with your expansion. Lets not see each other as rivals, but as partners in trying to clean up the forex industry and end the era of the Market Maker by providing better ECN services by competing in good faith.
Best Regards
Quote:
Originally Posted by Need2bFree
Are you going to have to follow these god aweful regulations of late by the pinko-commie fag NFA crazies?
Sorry, but you just made me laugh so hard my coffee almost came up through my nose. "pinko-commie fag NFA crazies"?
About MBTrading MT4 platform, I Don't use an EA. If I have a Limit order to take out my open position. What hapen if I loss the internet conection? Does my MT4 charts have to be open and my computer on 24 hrs for this? or you. have my orders at your server and you will execute, doesn't mater if my computer it's on or off?
About MBTrading MT4 platform, I Don't use an EA. If I have a Limit order to take out my open position. What hapen if I loss the internet conection? Does my MT4 charts have to be open and my computer on 24 hrs for this? or you. have my orders at your server and you will execute, doesn't mater if my computer it's on or off?
Thank you.
PartyPips
PartyPips,
All orders are server held. Therefore, in the event your computer crashes or your internet connection fails, your orders will still be executed.
__________________
Justin LeBlang
Business Development
MB Trading
Stocks. Futures. Options. Forex. justin@mbtrading.com
Justin,
Just read your post from July 30th on the impact of the NFA FIFO changes on your MT4 rollout. Its understandable that this throws off your development / testing cycle, but it also brings up a couple questions in my mind.
1. Does Metaquotes know what issues you have when they change their software, how it would impact the interface to an ECN? Do they care?
2. Won't any future updates to Metatrader have a possibly damaging effect on your customized implementation of their product? How will you handle future product updates from them?
Just wondering about these things. I'm currently a live trader using Nav and I use other broker's MT4 demo accounts for charting. I could use MBT's Metatrader feed for charting, but I don't think you're out of the woods yet as far as stability. I like the fact that my trading system's indicators are kept separate from my trades, so maybe I'll stick to that anyway.
Navigator has actually gotten easy to use, once I put all the windows where I wanted them.
__________________
The greatest power is often simple patience.
About MBTrading MT4 platform, I Don't use an EA. If I have a Limit order to take out my open position. What hapen if I loss the internet conection? Does my MT4 charts have to be open and my computer on 24 hrs for this? or you. have my orders at your server and you will execute, doesn't mater if my computer it's on or off?
Thank you.
PartyPips
Party,
I place live orders on their Navigator platform, and can turn off the software or my computer once the order is in their system. They hold all current positions, stop and limit orders on their side, not on the client side. I would expect MT4 to work the same (although I am not a beta tester for them). They do have a brief rollover period around midnight each night, for about 5-10 minutes, where there are no price updates or trades allowed. Not sure if this will also be the case for MT4 when its implemented.
One thing I do like about MT4 that Nav doesn't have, is that it shows your trade history in an ongoing fashion, on the screen. In Nav, your history basically disappears each day, unless you pull up a report.
__________________
The greatest power is often simple patience.
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