MB Trading - Spot FX Execution Failure

M

MiamiHurricanes

Anyone else experience failure in MB Trading's spot FX dealing starting around 12:20 AM on 10/16/08???

I CAN NOT GET THROUGH TO THEM ON THE PHONE FOR AN HOUR ON ANY OF THEIR NUMBERS.

I am requesting an audit to arrive at a fair settlement and most likely done with them. This is the worst error I have ever experienced with them and marks an extreme risk to safety of capital. They have proven to be completely inappropriately staffed and unreachable during a major outage...

WORTHLESS.
 
Read about my experience with them in the broker review section.

They are a piece of shit company. Way too fly-by-night.

Shady.

Move your $$$ asap dude.
 
I use them only as a secondary data provider, and their FX quotes were indeed out from 12:15am - 12:40am EST.

I would move on, their swaps and commissions are completely uncompetitive. I'm not sure how they can continue to demand $50/M when IB is at $20 and certain Currenex hubs are $14.
 
Quote from MiamiHurricanes:

Who would be your #2 behind IB? TIA
More...
ADM (this is tentative though, I don't have the same time in the trenches with them as I do IB).
 
They sent out a notice when u login into the platform saying that erroneous fills will be sorted out. I do not know if this is your problem. As far as connectivity goes, i have not had an issue and i have been carrying 12 positions since yesterday and traded in and out today, 15 to 16th.


I have to agree on the swap rates, either than that i don't have any complaints.
 
I had an acoount with them a few years ago and thought the $25/$30 I wasp aying was steep - $50 is insane.

I closed my account within a week as the platform was unstable - I had read somewhere that they said problems had been sorted.
 
Thanks TraderKGB. ADM - I will check it out.

No connectivity problems on my end and I did not receive any messages when I was connected. I did log out one time and when I logged back in I saw no message either. Of note I have been one of the first to tell brokers of a technical problem many times in the past. A trader or investor with money on the line is going to notice pretty fast.
 
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