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just fired op demo on mbtrading. and although i understand that you can place order within the spread, i see in marketwatch for example on EURUSD a spread of 6
on the website of mbtrading is shown realtime quotes which is on the same time fluctuating between .5 and 1
are those not coming from one source ? can you explain in more detail (or maybe i am just not awake 'yet')
We have two trading environments, Demo and Live. The live showing the ECN plus any customer limit orders placed VIA LIVE ACCOUNTS. While the demo is showing the ECN plus any limit order placed in the demo environment. Since the two don't interact, they will never be identical. Customers in live might have more limit orders placed between the spread, therefore the spread will be tighter than that in the demo.
You can respond to me by PM if you don't want this kind of information on the internet.
I would like to know how big is your office, and how many people are currently working for MBT Trading at your El Segundo office. And would it be possible to stop by and take a look around to make sure everything is legit? Southwest flights are not expensive at all.
You can respond to me by PM if you don't want this kind of information on the internet.
I would like to know how big is your office, and how many people are currently working for MBT Trading at your El Segundo office. And would it be possible to stop by and take a look around to make sure everything is legit? Southwest flights are not expensive at all.
When I do my due diligence, I do it right.
Hi Kenny,
As much as I appreciate traders doing their due diligence, I can assure you that MB Trading is as legit as they come.
MB Trading as I mentioned in a previous post has been in business for over a decade and is not only regulated by the NFA & CFTC, but we are also a member of FINRA. Between the three of these organizations come a lot of regulation, frequent auditing and oversight. Not to mention, the requirements set in place for Net Cap and SPIC.
With regards to our staff, we have an office in El Segundo, CA with approximately 80 employees which include our compliance department, trade support for Stocks, Futures, Options and Forex, along with many of our programmers, New Accounts department & regular staffed customer support. We have another office in Scottsdale, AZ (where I'm located), that handles much of the companies educational areas, business development, marketing and MetaTrader support.
If it is still important for you to visit our offices in California, you may email me directly to discuss, but due to privacy issues it is not something we typically allow.
Kenny,
Justin LeBlang has been posting for at least a couple years over on ForexFactory.com. You might want to stop by there, on their brokers forum he has his own thread with hundreds of posts about the Company. I'm happy to see he's also posting on this forum.
Justin, I know you guys have been working for a long time to get MT4 integrated into your ECN system, and I for one will be signing up with you when I go live in a few months. In the meantime, I'm happy to be able to demo on your platform. I'll send you an email as well. I understand from your website that there are some caveats to using MT4 in your environment, such as not placing stops until a market order has been triggered. I am hoping you will still allow multiple limit orders to be placed at once on a given pair however ( i.e. a buy limit order and a sell limit order both pending).
I understand and like what I'm hearing. Let's see how my trading goes this year, if it is on track, I'll definitely give MBT a shot on my next account.
Metatrader is the most popular front-end application in the industry, and MB Trading has attached our ECN execution to the platform. We’ve taken the user-friendly front-end trading interface and added the execution that the market has been looking for. We’ve turned off the deal-desk functionality of the platform and made the executions as true as our systems can handle. What does Metatrader 4.0 through MB Trading offer?
* Direct ECN connections and execution
* Tight ECN spreads and quotes
* A true non-deal desk environment
* NO proximity restrictions when placing entry or exit orders
* Scalping available
While other brokers have offered Metatrader for years, MB Trading wouldn’t offer the system until we we could eliminate the deal desk functionality of the back-office systems of Metatrader. With this solution, our customers can experience Metatrader as it was supposed to be, without desk interventions, fixed-slippages, and stop and limit proximity limitations. We open the door to any available execution using Metatrader, and we give no priority to opening, closing, or hedging positions.
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I find it interesting that MBT is posting info about the "deal desk" functionality of MT4. Many brokers would have you believe that there is no dealing desk, and that there is no such thing as 'desk interventions, fixed-slippages, and stop and limit proximity limitations'. There was a thread on metatrader's own forums a while back that mentioned these things, but it was quickly removed after trader's started asking about how and why MT4 had these capabilities. If you trade with any MT4 broker, you should be asking how they use the dealing desk functions of MT4 and how it affects your trading.
What is the typical LIVE account spread on AUDJPY and NZDJPY? I picked some exotics to see what kinds of spreads are at MBT. Can you factor in commission so we can get a representative savings vs. a traditional MT4 broker? Thanks.
What is the typical LIVE account spread on AUDJPY and NZDJPY? I picked some exotics to see what kinds of spreads are at MBT. Can you factor in commission so we can get a representative savings vs. a traditional MT4 broker? Thanks.
Typically spread for both of these pairs is about 4-5 pips, plus you'll have a commission of $3.00 - $4.00 per 100k traded on either of these pairs.
Commission Math
AUD/JPY - Exotic: US dollar is available as cross currency (AUD/JPY)
Use AUD/USD's current rate at the time the position is opened for AUD/JPY, keeping in mind that with an exotic, we reference the base currency's relationship to the US Dollar:
Formula: Deal Size X Deal Rate of AUD/USD X 0.00005
Kenny,
I am hoping you will still allow multiple limit orders to be placed at once on a given pair however ( i.e. a buy limit order and a sell limit order both pending).
Typically spread for both of these pairs is about 4-5 pips, plus you'll have a commission of $3.00 - $4.00 per 100k traded on either of these pairs.
Commission Math
AUD/JPY - Exotic: US dollar is available as cross currency (AUD/JPY)
Use AUD/USD's current rate at the time the position is opened for AUD/JPY, keeping in mind that with an exotic, we reference the base currency's relationship to the US Dollar:
Formula: Deal Size X Deal Rate of AUD/USD X 0.00005
100,000 currency (1 lot) x $.7190 (AUD/USD rate)
$71,900 x $.00005 = $3.60
So average cost $3.60 + 4-5 pip spread.
That's sexy. Me likes. That would be a significant cost savings for me over the span of a year. Competitive with IB, and I can dig that over the standard MT4 brokers. It's too bad you caught me at the start of the year, I had already completed my funding by December as I wanted to start 2009 running. I'm pretty sure my next account will be yours though.
In the meantime, I'm happy to be able to demo on your platform. I'll send you an email as well. I understand from your website that there are some caveats to using MT4 in your environment, such as not placing stops until a market order has been triggered. I am hoping you will still allow multiple limit orders to be placed at once on a given pair however ( i.e. a buy limit order and a sell limit order both pending).
Linear Mode
