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MB Trading
- Thread starter Bakinec
- Start date
Okay, someone should clear this up. If MB's only involvement with its traders' orders is in commissions, then why am seeing this when I sign up for a live account?
So let's make this clear, Steve!
Does MB offer a REAL ECN where my trades will go DIRECTLY to the ECN?
How can I trust MB to not give re-quotes when your policy plainly states that MB will be the counterparty to my transactions?
I'm starting to believe Mouse was right!
MB Trading Futures (MBTF) AS COUNTERPARTY
The foreign currency trading you are entering into is not conducted on an exchange. MBTF is acting as a counterparty in these transactions and, therefore, acts as the buyer when you sell and the seller when you buy. The prices MBTF offers might not be the best prices available.
Although MBTF is the counterparty to each of your trades, MBTF limits risk to itself by instantaneously offsetting the trades and positions it enters into with you with a bank or institutional market maker. As a result, MBTF does not profit when you lose money on a Trade. Rather, MBTF earns commissions on each trade it enters into with you. The amount of commissions charged is disclosed on MBTF's website at http://www.mbtrading.com/fx/.
So let's make this clear, Steve!
Does MB offer a REAL ECN where my trades will go DIRECTLY to the ECN?
How can I trust MB to not give re-quotes when your policy plainly states that MB will be the counterparty to my transactions?
I'm starting to believe Mouse was right!
Quote from Mouse:
Is MB ECN ?
Probably not. But because they claim to be. They probably won't cheat you as much as others that don't even claim ECN.
I hope things are clear to you now.
Gubinec,
MBT must act as the counterparty to every trade that is done because only MBT has the agreement with the customer. The customers do not have an agreement or relationship with anyone other than MBT (such as any other participant on the ECN)so to facilitate the matching or all orders with banks, institutions, traders etc. MBT must be considered the counterparty to each trade. That the technical way to explain it. The practical way is that MBT conects all parties on the ECN and allows them to trade with each other. It is for this reason that spreads can be as low as 1/100th of a pip.
As I had pointed out in the original post by Mouse.. Put it to the test. Post a bid or offer and watch it display immediately. Simple as that. If it displays for everyone on the network to trade with then you have a true ECN.
Regards,
Steve
MBT must act as the counterparty to every trade that is done because only MBT has the agreement with the customer. The customers do not have an agreement or relationship with anyone other than MBT (such as any other participant on the ECN)so to facilitate the matching or all orders with banks, institutions, traders etc. MBT must be considered the counterparty to each trade. That the technical way to explain it. The practical way is that MBT conects all parties on the ECN and allows them to trade with each other. It is for this reason that spreads can be as low as 1/100th of a pip.
As I had pointed out in the original post by Mouse.. Put it to the test. Post a bid or offer and watch it display immediately. Simple as that. If it displays for everyone on the network to trade with then you have a true ECN.
Regards,
Steve
Quote from MBT-Steve:
Mouse,
I am here to help clarify when I see something inaccurate. So letâs discuss MBT and being a true ECN, which is absolutely the case. There are many claims of forex firms being an ECN or not and while most of them are not; you can do a simple test to determine a true ECN. See if you can post a bid or an offer and have it display on your brokers montage for the world to see and more importantly, trade with. I speculate that many (most) of them will not display your order in the montage, hence they are not an ECN by definition. Try this with MBT and you will see your bid or offer appears instantly and can be filled by another MBT customer. There's your proof. Iâve noticed so many brokers calling themselves ECN's, when in reality they are only STP (straight through processing), which in many cases is debatable, but I will save that for another day. Although good, STP is merely one component of being an ECN but it does not make the firm an ECN. I hope this helps clarify and I urge you to put it to the test.
Regards,
Steve
Thats true we can trade with other clients , but again there is no proof that the liquidity we c is from banks , u claim it is from banks but there is no proof .
Happy with MB here. Cust. service has been great whenever I had a problem.
These types of questions have been asked and answered ad nauseum in the ForexFactory link I posted. I recommend anyone interested in MBT to search through that thread, as any question you can think of has already been answered (including your question Surprise, look for the exposed L2 book that was captured).Quote from Surprise:
Thats true we can trade with other clients , but again there is no proof that the liquidity we c is from banks , u claim it is from banks but there is no proof .
Quote from Trader KGB:
These types of questions have been asked and answered ad nauseum in the ForexFactory link I posted. I recommend anyone interested in MBT to search through that thread, as any question you can think of has already been answered (including your question Surprise, look for the exposed L2 book that was captured).
But that won't allow this cozy exchange. This is like dancing with the stars. Such a great performance.
Also doing a great job of keeping the thread alive.
I signed up, will see how this goes.
I see Burger is still at it! LOL.
There's like 6 posts here from well-established members with positive reviews for MB, yet Burger with his 200 posts who supposedly has nothing even to do with FX just can't keep his eyes off this thread.
KGB, I don't feel like reading through 400 pages of a thread so that's why I prefer asking questions here.
If MB's competitor agents don't like it, well, tough!
All I care about is that I get exactly what MB promises and finally get to trade!
I see Burger is still at it! LOL.
There's like 6 posts here from well-established members with positive reviews for MB, yet Burger with his 200 posts who supposedly has nothing even to do with FX just can't keep his eyes off this thread.
KGB, I don't feel like reading through 400 pages of a thread so that's why I prefer asking questions here.
If MB's competitor agents don't like it, well, tough!
All I care about is that I get exactly what MB promises and finally get to trade!
Gubinec... FYI I have started trading with MBT for a week or so. Everything is ok so far except for one HUGE issue. I wired in a large sum of money into my account and am missing 1kUSD. Still trying to find out what happened there... will let you know. However if I don't get it back I would strongly recommend you look elsewhere.