3/22/2008 10:26 AM
Dan wrote:
a little difficult to use for the person who is familiar with fxcm or fxsol which every IB promotes heavily, but this system has the power you need and is worth learning to use. You can manage multiple accounts from one click, you can single click trade, modify your stops easily, use trailing stops and all kinds of management for your trading. fully customizable setup. I hated it at first, but love it now. As for the trading station itself, you have to learn what you are paying for commission based on what currency you are trading, but when you have that figured out, you can easily make money with this company if you scalp, as this is an NCM broker. You do have to watch your spreads in high volatility times, but I often times have had 1-3 pip spreads and sometimes 0 on the usually 9-12 pip spread currencies like the GBP/JPY and GBP/CHF.
If you are trying out their demo account, be aware that they give precedence to their live accounts so the demo seems to suffer. I was totally put off at first with them, but now that I am trading them live, I'm very appreciative to them taking good care of their live accounts. Reply to this
Orders are carried out very quickly without the requotes I've experienced from other brokers.
The thing I hate is that you cannot take both sides of a trade. You either go long or short. If you have a short or long position, adding to these position, the system will average out the price. Reply to this
3/22/2008 1:23 PM
Will Pip wrote:
Tough to learn and I am still learning. Quick execution. I haven't figured how to have a Demo and a Live account open at the same time, they tell me I can't do that which sucks. I have seen it take a entry order and then I can't find it, so that is scary, but this has only happened on the MBT Demo account. Reply to this
3/24/2008 7:11 AM
steve b wrote:
I like mbt for actually trading with. I like the way they don't artificially increase the spread and pretend they don't charge a commission. Previous poster said their rates were high but I know of none cheaper. let me know who is cheaper.
Their interface is absolutely horrible and takes a long time to get comfortable with. They have an API which lets 3rd party software connect like ninja trader. They have no historical charts so I use other brokers for that. there are plenty of brokers that have excellent free charts.
3/24/2008 12:37 PM
Jaime Garcia wrote:
I tried them before but their platform does not allow hedging so I did not go with them . Reply to this
4/9/2008 12:30 AM
Tess N. wrote:
I absolutely hate this broker. I opened an account with them based on some good reviews. Their platform is awful. Occasionally during London, you could no longer execute or exit a trade. I lost money because of this since I entered a trade and didn’t have a chance to put in my stop loss, the platform froze up and I couldn’t exit the trade fast enough. I called them and I was put on hold for 15 minutes. This happened to me 2 times. Their spreads change often based on market condition. On one occasion, I see spread as high as 30 pips. And don’t forget, they also charge you commission each time you execute a trade, one pip to enter and one to exit. Therefore, if you think their spread is low, don’t forget to add in 2 pips of commissions to each currency pair per trade. I don’t know why so many people like this broker, my experience with them is very bad. I hope people will think twice and do their own research before listening to any reviews. Reply to this
9/23/2008 6:10 PMCindy wrote:
I have changed my mind about MB Trading. They are very good for my auto day trade program. They are honest and have good fills. No broker is perfect. Reply to this
11/27/2008 4:01 PM
Wk Eidson wrote:
To Tess and the rest of you folks who don't like the way MBTrading works I would like to say, Welcome to the real world of trading. MBT is a broker for professional traders who want to trade with the ACTUAL forex market and not THEIR BROKER. Thats why the spreads change and the trades act the way they do. If you want to sell a pair and you don't get filled as you would like, thats because at that point in time there are no takers in the market for your position. If you are with a broker who doesn't put your trade on the actual market, but takes the trade themselves, ( this is most brokers) then they will take the trade, providing they have the liquidity to do so. If it's at a time like the non-farm payroll, you may not get filled simply because they have all their money in the market. That's why you need a broker with a large net worth. MBT is a true "broker" and they are not trading with you. The spreads you see are the spreads the market is offering at the time based on demand. The commission is what MBT charges to facillitate your trade. I trade with MBT and while I absolutly hate their platform,(it's arcane) I make a LOT OF MONEY with them because they don't screw with my trades. Most people who trade in this market at home etc. don't know enough about this market and how it works to warrant putting real money up and trading it. I see some of these people praising some of the brokers who offer 400:1 leverage. That's a sucker bet, and if you don't know that you need to back off and do your home work. I wish every one a happy Thanksgiving and profitable trading, and to insure the latter, DO YOUR HOMEWORK, and learn how this market works. Your future may depend on it. Reply to this
a little difficult to use for the person who is familiar with fxcm or fxsol which every IB promotes heavily, but this system has the power you need and is worth learning to use. You can manage multiple accounts from one click, you can single click trade, modify your stops easily, use trailing stops and all kinds of management for your trading. fully customizable setup. I hated it at first, but love it now. As for the trading station itself, you have to learn what you are paying for commission based on what currency you are trading, but when you have that figured out, you can easily make money with this company if you scalp, as this is an NCM broker. You do have to watch your spreads in high volatility times, but I often times have had 1-3 pip spreads and sometimes 0 on the usually 9-12 pip spread currencies like the GBP/JPY and GBP/CHF.
If you are trying out their demo account, be aware that they give precedence to their live accounts so the demo seems to suffer. I was totally put off at first with them, but now that I am trading them live, I'm very appreciative to them taking good care of their live accounts.
Reply to this
very high comissions, rest OK
Reply to this
The user interface takes time to learn.
Orders are carried out very quickly without the requotes I've experienced from other brokers.
The thing I hate is that you cannot take both sides of a trade. You either go long or short. If you have a short or long position, adding to these position, the system will average out the price.
Reply to this
Tough to learn and I am still learning. Quick execution. I haven't figured how to have a Demo and a Live account open at the same time, they tell me I can't do that which sucks. I have seen it take a entry order and then I can't find it, so that is scary, but this has only happened on the MBT Demo account.
Reply to this
I like mbt for actually trading with. I like the way they don't artificially increase the spread and pretend they don't charge a commission. Previous poster said their rates were high but I know of none cheaper. let me know who is cheaper.
Their interface is absolutely horrible and takes a long time to get comfortable with. They have an API which lets 3rd party software connect like ninja trader. They have no historical charts so I use other brokers for that. there are plenty of brokers that have excellent free charts.
and their API SDK is free.
Reply to this
I tried them before but their platform
does not allow hedging so I did not go with them .
Reply to this
I absolutely hate this broker. I opened an account with them based on some good reviews. Their platform is awful. Occasionally during London, you could no longer execute or exit a trade. I lost money because of this since I entered a trade and didn’t have a chance to put in my stop loss, the platform froze up and I couldn’t exit the trade fast enough. I called them and I was put on hold for 15 minutes. This happened to me 2 times. Their spreads change often based on market condition. On one occasion, I see spread as high as 30 pips. And don’t forget, they also charge you commission each time you execute a trade, one pip to enter and one to exit. Therefore, if you think their spread is low, don’t forget to add in 2 pips of commissions to each currency pair per trade. I don’t know why so many people like this broker, my experience with them is very bad. I hope people will think twice and do their own research before listening to any reviews.
Reply to this
Why are your broker comments not updated. I am not receiving them.
Reply to this
I have changed my mind about MB Trading. They are very good for my auto day trade program. They are honest and have good fills. No broker is perfect.
Reply to this
To Tess and the rest of you folks who don't like the way MBTrading works I would like to say, Welcome to the real world of trading. MBT is a broker for professional traders who want to trade with the ACTUAL forex market and not THEIR BROKER. Thats why the spreads change and the trades act the way they do. If you want to sell a pair and you don't get filled as you would like, thats because at that point in time there are no takers in the market for your position. If you are with a broker who doesn't put your trade on the actual market, but takes the trade themselves, ( this is most brokers) then they will take the trade, providing they have the liquidity to do so. If it's at a time like the non-farm payroll, you may not get filled simply because they have all their money in the market. That's why you need a broker with a large net worth. MBT is a true "broker" and they are not trading with you. The spreads you see are the spreads the market is offering at the time based on demand. The commission is what MBT charges to facillitate your trade. I trade with MBT and while I absolutly hate their platform,(it's arcane) I make a LOT OF MONEY with them because they don't screw with my trades. Most people who trade in this market at home etc. don't know enough about this market and how it works to warrant putting real money up and trading it. I see some of these people praising some of the brokers who offer 400:1 leverage. That's a sucker bet, and if you don't know that you need to back off and do your home work. I wish every one a happy Thanksgiving and profitable trading, and to insure the latter, DO YOUR HOMEWORK, and learn how this market works. Your future may depend on it.
Reply to this
Nice post,
Keep up the good work,
Thanks for writing about it
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I hope that people will learn from your blog ok this was a very interested read for me keep it up.
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