GMT & MGB Trading

B

BlacknBlue

I'm curious if anyone else is having issues with Global Market Trading or MGB Trading (Canada).

For GMT (global market trading), we agreed on all the terms via e-mail but they were not ready to process a formal application because they were changing clearing firms but will be ready by very early August they said. I haven't heard from the pair who run GMT in 20 days even with my e-mail follow-ups. I've also messaged them both via Skype with no response. I've traded with them before so it's just strange that they went dark - if they didn't want me trading with them they could have just said so and not trolled with fake terms lol :)

For MGB trading, 4 weeks ago I forwarded an email from a few years ago with previous terms that they offered to see if we can get an updated offer. I've sent a follow-up email about a week ago plus submitted the online form on their site with no response.
 
I'd probably take that as a warning sign from the universe to not move forward no matter what. Any business that takes 20 - 30 days to respond to a new account inquiry is definitely not worth doing business with. Find someone else who will actually pay you some attention and you won't regret it.

There's just a lot of bullshit in this industry so you MUST pay attention to every little signal that you're given along the way. Just because you did business with someone in the past doesn't mean that you won't get screwed over by them today. Unfortunately, that's just the way it is and you must be very attentive to every little signal they send you in order to protect yourself. If something doesn't seem right, move on to somewhere else.
 
BlacknBlue said:
I'm curious if anyone else is having issues with Global Market Trading or MGB Trading (Canada).

For GMT (global market trading), we agreed on all the terms via e-mail but they were not ready to process a formal application because they were changing clearing firms but will be ready by very early August they said. I haven't heard from the pair who run GMT in 20 days even with my e-mail follow-ups. I've also messaged them both via Skype with no response. I've traded with them before so it's just strange that they went dark - if they didn't want me trading with them they could have just said so and not trolled with fake terms lol :)

For MGB trading, 4 weeks ago I forwarded an email from a few years ago with previous terms that they offered to see if we can get an updated offer. I've sent a follow-up email about a week ago plus submitted the online form on their site with no response.
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Well, I think you know what to do. Why don't you try interactivebrokers.com .
 
Hi guys,

You could have basically written the post on my behalf and posted. Exact same thing for me... sent info, agreed on terms, signed agreement, told me the clearing house issue (both) and despite my continual 'polite' reminders that the account is pending, heard nothing back over the last 2 weeks.

Agree with Baron.
 
Thanks for your comment Baron. For me, it is odd if they were trying to screw me over, they never requested a deposit yet but we agreed on an amount.

Sand, this is a prop sub-forum so IB's 4x intraday leverage isn't what we are looking for...

Voltaren, did you wire either of them a deposit and when did this happen? Interesting to know MGB is also saying this. I also tried calling MGB but the number stated on facebook/google is dead, but not sure if it's always been like that.
 
Hello, No wire made nor a request made. I too made that justification also namely, if they were intentionally seeking to obtain the funds, they would have pushed much harder to complete the process.

If you look at their sites and user agreements, they are similar. I suspect they both come under the head co. WTS perhaps. They are also based in Canada. This is also how i figured the change in clearing house was genuine as they both stated the same at different times.

I have read only good things about MGB and mostly good things about GMT. A shame that this did not eventuate although, if they are this despondent with new business, imagine what they would be like when 'issues' arise.
 
Be careful MGB trading firm, they won't give back deposie and won't pay you. Trading with MGB firm is really dangerous. I didn't get money back from MGB after deposit and they give the excuse that is broker's problem. Even i didn't get any account to trade. So everyone have to be careful.....MGB firm really a liar firm.
 
Thanks House House

Try Trader Equity. I havenet used them but seem (as much as it can possibly seem on an online platform) to be ok
 
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