MB Trading MB Trading Futures, Inc

John, 03/19/2010 ,

This company is great they don’t mess with your orders at all; fills are fast; they could care less if you scalp or hold overnight. I use Stop Limit + TTO primarily and it prevents me from getting a bad fill while knowing that everything will be handled in terms of entry and exit while I’m away from my machine. If there is one gripe, it’s that rollover rates are a bit high, but I typically close out my trades each day unless I have a nice winner going.

Mark Mander, FPA, 10/30/2009 ,

MB trading is very expensive on commission and compared with other ECN broker has the badest spreads - often 2pips or wider on GBP/USD and yen pairs.

Sorry but as an scalper you will be get screwed.

Swinger and position trader should also go with other broker.
Rollover rates suck.

Trading between spreads don't work - i tried many times but never ever got filled.

I see no more reason to stay and trade with them - they don't show interest to connect more liquid provider to lower the spreads and commissions.

There are better ECN broker out there with much better conditions.

Student, FPA, 10/30/2009 ,

Just a note that I've run into a difficulty with MB.

A 140+ pips spike that was NOT present on my other broker closed a profitable multi day trade over 70 pips away from my stop loss.

Justin, FPA, 10/30/2009 ,

Well, I like them. I trade mostly on 4H charts and targeting a couple of hundred pips on each trade, so I don't really care about spreads or slippage of a few pips. But what I mostly like about MB Trading is how they handle stop losses. I remember on many other brokers, if I price ALMOST reached my stop loss (like 5 pips away) they would close my trade with loss. You don't have that on MB Trading. I can't even remember how many times my stop loss was missed by 1 or even 0,5 pips.
I also like that you can trade any amount you want. You don't have to trade 1 or 2 lots, if you want, you can trade 1.245 lots, etc.
Their platform takes some time to get used to, and you can't hedge. But now they also have MT4, so you can use that.

Mike S, FPA, 10/30/2009 ,

Bad platform. Incompetent representatives & Michael Blosser, manager is creative and unethical with excuses why they wont refund your money because of platform & order problems. Maintenance is constantly being done and if you have an outstanding trade and want to close it, you have to close down the system then open it back up. This is fun to do when you have a profit and then realize a loss because of this procedure. Also, representatives are unqualified to talk about FX. I had a market order that I was trying to close the position yet couldn't. I spoke with Hugo who tried to help me but was researching a trade that was already closed. I watched my profit turn into a loss while he tried to "help me." Michael Blosser is like a used car salesman or politican. He comes up with the wildest excuses why a trade could not be excuted with a profit and then fails to reimburse you when their platform turns your profit into a loss. Their order entries are time consuming and even if you do a market order without a stop loss, you could still have trouble closing out your position. This group has your money and will make sure they keep it. Stay away from this group.

Doug, Goforex.net, 10/30/2009 ,

I do not believe that there is a broker in existence that has it's clients in their best interest, because they tend to make money off them in one way or another. Small deposit traders are put into in-house pools and not really traded on the real forex market. It would cost to much for them to take small deposits and allow them to be traded on the real forex market. So, small traders are churned till all money is gone. I have watched MB Trading for a while and have notice how they or some other entity has run stops obviously continuously till all funds are gone. It is better to deposit larger funds or only trade when volume is very high. When volume is high it make it impossible for brokers to manipulate your account without it being noticeable. That is why news trades are best and that is why some brokers want let you trade news or try to discourage you from doing so. Now, am I trying to say that BM trading is doing you that way? No! But I am saying that these are well known practices in this industry and I would not count them out. Take it from a X-Futures\Forex broker, who helped close down a brokerage firm. Something is fishy.

David, FPA, 10/30/2009 ,

Basically a good broker, but quite expensive.
Spread isn't fixed of course, so you COULD get a low spread. Under volatile conditions, it's impossible though.
Commission is pretty high and charged per side.

If you open an account (live account) you'll notice that MB Trading still holds the other side of your trade. If you buy, they sell and if you sell, they buy. (At least that's what they say!)

But in general a good broker, decent fills and fast execution.

David

Salem, Earnforex.com, 10/30/2009 ,

I have been trading live with them for 2 years.
Advantages:
1- Very tight spreads
2- MT4 (to analize your charts only but no live trades)
3- very fast sending your withdrawn profits.

Disadvantages:
1- No swap free accounts for their muslim customers
2- I have mixed feelings about their customer service (some are good, some bad)

Mikie, Goforex.net, 10/30/2009 ,

I had a limit order to buy 1 Lot NZD/USD early in the morning. My order was filled in the late afternoon. I was looking at the P/L and noticed that I had a small profit even though I had a 20 pip profit. I eventually closed the position because I thought I entered it incorrectly. I found out that I didn't. Out of the 100,000 trade, only 1,000 had been filled! This happened so many times that when it did, I would just close all the trades. It ruined my trading strategy because of having one position to work with and lock-in a profit, you have 2 OR MORE to adjust in a fast market. MB Trading & Mikchael Blosser, the meek Chief Trader & his simpleton workers, ie Hugo, will do whatever it takes to keep your money. Nothing positive to say about this company.

Tropical, FPA, 10/30/2009 ,

MBT's software performed unbelievably poorly. My wife and I used them for a couple of months. We tried simultaneously using forex.com as well. Forex.com executed well. MB did not. Changing computors did not help. Multiple times MB took several minutes to close a trade at market. Example, the last draw was when I sold 3.0 minis at market that I had bought earlier. After a few seconds, 0.5 minis were sold, 8 minutes later 1.5 minis were sold; after 12 minutes 0.9 minis were sold; and finally after 17 minutes the last 0.1 mini was sold.(not seconds-minutes) MB suggested my computor might have a problem. I reminded MB that my computor can not change their prices or the time that MB shows execution. This last encounter was after news releases, but the prices were not moving much.

Most of my problems were due to slow execution of several seconds to 25 seconds. If the market is about to move and I guessed right, I could lose 35 pips or more waiting, and then be entered after the move and leaving me hanging there with the pullback starting.

I was often doing over 300 trades a day. I sometimes added to positions. I kept a lot of info on my platform. Maybe I confused their software by being so busy.

My wife and I would call the contact telephone numbers that the reps gave us to get out of trades that were not executing. That was our mistake, 6 minute hold on average. Call the phone number an the internet site, only 1 minute hold.

My neighbors recommended MB to us. They like them and say they have not had all the problems that we have had.

If you like their spreads, often about 1.7 on the Euro/Dol, you might still pay the equivalent of about 0.7 fee to get into a trade and another 0.7 to get out. You are then paying over 3 pips.

P. Thomas, Gofore.net, 10/30/2009 ,

MB Trading looks good but will they be able to comply with the new CFTC $20 million capital requirement going into effect on May 19th 2009. Firms that cannot comply will be out of business so you wouldn't want to have your deposits with them at that time. As of Feb 28, 2009 MB Trading Net Capital is $15,227,000. First go to www.nfa.futures.org/basicnet/ to see if your broker is registered, then go to the CFTC website at www.cftc.gov/tm/tmfcm.htm and download the latest data and make sure that the registered FCM has substantial assets.

ML, Goforex.net, 10/30/2009 ,

System goes down at specific times. If you don't close your platform and start back up, you can't close your trade.
Michael Blosser is the manager. He does not know what he is doing. I had a market order and tried to close it. I did everything to close it but no luck. I called the desk and the rep said my situation was unique. He said he would help as my position was going against me. He came back and told me the status of ANOTHER completed trade! I said that I wanted to close with the profit. He said that I could close it with a loss with his help. IF they mess up your trade, their response is:"What do you want us to do?" I would say, give me my profit back. Blosser always shifts the blame to the internet connection to Al Gore and "global warming."

Stay away from this outfit.

Philip, FPA, 10/30/2009 ,

Lately I've been putting on more short term forex trades, the executions have been very good, I even get slight price improvement sometimes. Support answers quickly when I contact them, and tried to be patient when I was (nicely) blaming them and ninja trader when the platform was crashing...I had a virus

I would like price alerts, however all I need is a stable platform with fast executions, I'm in and out quickly. So far I'm happy. I would stay with them for a long time and try to negotiate a better commission if possible

Gary Matinez, earnforex.com, 10/30/2009 ,

MB Trading client for almost three years now, they recently announced they now have MetaTrader with an ECN - I hope to see it work out, cause this will be the ultimate combination.

Goonboy, Goforex.net, 10/30/2009 ,

Had high hopes for them. The spreads are low, but you pay based on volume, BUT you also pay on both ends of the transaction. Not cheaper than Oanda by my calculations. Clunky platform clearly not geared to fx trader.

David Martin, FPA, 10/30/2009 ,

I've been trading for a while with mbtrading, in general they are ok,
The stuff they should change is this stupid rollover scam.
I am keeping my oanda account only for position trades, because mbtrading WILL KILL YOU, with his rollover scam.
I just check with oanda, and the difference are huge.
So if you are not a position trader and close all your position before 5,. .. its ok.

earnforex.com, 10/30/2009 ,

Advantages:

MetaTrader 4 software support
ECN Forex broker
Low, floating spreads
Supports trading over the phone


Disadvantages:

Commissions for trading
Opening an account is a complicated process
Residents of some countries can't open account

emtrade, Goforex.net, 10/30/2009 ,

This company is excellent. My fills are fast and software is simple (read someone else say not intuitive). I guess it may not be totally intuitive because it is windows based but if you know windows its simple. I use them for execution of my trades primarily and you cant get better for that. If you certain bells and whistles like news then you have to look elsewhere but for trading they are great. I give them two thumbs up.

Mark, FPA, 10/30/2009 ,

I've been trading futures and stocks with MB for a couple years now and I recently opened a Forex account with them. You can trade fractional lots down to .10 from one account. They charge commissions but don't have a deal desk and their spreads are tight. I cross checked them with their home page and it seems to be accurate. Maybe the demo account has a slightly different data feed if some reviewers are not getting the same spreads.

Issues I have is when they take their system down for maintenance. It happens same time everyday, it's brief but you need to be aware of the time because you are unable to trade for what seems to be 5-10 minutes. Also, they don't have historical data although I was told they will be upgrading to include this. Another issues is you can only withdraw funds via check or wire. I hope they ad ACH at the least.

Executions are fast and clean and I have always been able to get someone on the phone 24/7. They are legit.