MB Trading

Steve i had an offer out there so it should have been displayed no?
What gives MBT the right to decide to pull my offer and try and hit a bid? So because of that I now didn't get a fill? That sounds ridiculous to me. I am new to FX trading but at least in my experience with stocks that definitely isn't allowed or legal.

Also in regards to the money issue, I don't blame MBT for this matter, and I already have a manager following up for me.
 
so after a lot of arguing with tech support and the manager..
(and constantly being told i didn't know what i was talking about, i don't know trading (right.. i only run a fund but yah i guess the tech support know more then me) etc.. AND my favorite.. you can't sell on the offer only on the bid (if that were true why would i have ECN offers then??!!)) MBT has finally realized what happened.
Their system had maintenance and for whatever reason my outstanding order did not get executed due to some technical error. They have been gracious enough to credit my account back for the trade. SO in conclusion, 10/10 for trade error crediting me back but honestly 1/10 for customer service!
 
katiewc,

A few things need to be cleared up here. Of course you can sell on the offer. That is what every offer is .....sellers. However our reps were referring to if you want instant liquidity then obvriously you hit the bid. Apologies if that caused frustration.

In regards to your order.... your offer willl post immediately. In this case however please understand at 5pm EST we perform rollover and maintenance. This means for a few minutes the order servers are disengaged until rollover is complete. That means nothing posted during this short time which explains why your offer was not displaying. Happens every day at 5pm. Based on what you had mentioned I think this is the reason.

Now on to how an offer would be pulled to hit a bid. When an order is being offered out it will post to the ask. If a bank posts a bid at the same or higher price than your offer then your order is preferenced out to that banks bid. You will get the fill with that bank and possible price improvement. So this process means your offer isnt posted for that second while its hitting the banks bid otherwise if we didn't do that there would be a risk that somoene takes your offer simultaneously while hitting the banks bid. We certainly cant let that happen as it would fill twice. I hope this clarifies how the process works in this example.

Regards,

Steve
 
Hi Steve,


It seems MBT employees don't fully understand the difference between selling on the bid, or placing an offer to sell. In fact they repeatedly told me you can NOT sell on the offer. This is not a confusion on their part but a lack of understanding about trading in general. I actually spoke to two people that specifically said "it doesn't matter where my offer is, if the bid didn't get there you won't get a print".
 
What was with all the complaints about this thread? For crying out loud, MBT is a sponsor. They pay for the right to market and discuss with people about their company.

And Gubinec has 400+ posts and has discussed many things besides MBT.

Shills are usually people with 6 posts asking about some obscure site, and perhaps someone else with 20 posts effusing praise all over this obscure site (and neither is a sponsor). They often start threads about the obscure site, or do "drive-by" postings having little to do with the thread topic.

If someone shills, that is one thing, and they should be chased out to keep Et from becoming little more than a trader's obscure website directory. But let's not go knocking off people who do the proper thing and pay for the right to advertise and interact with other ETers...
 
MBT doesn't offer fixed spreads, AFAIK. Check out their website, the spreads are posted for each major RT and you can see it change at times. The only thing I've noticed is that Cable seems to be fixed at 2 pips. I also haven't seen any huge spikes on my charts at news times thus far.
 
Quote from Gubinec:

MBT doesn't offer fixed spreads, AFAIK. Check out their website, the spreads are posted for each major RT and you can see it change at times. The only thing I've noticed is that Cable seems to be fixed at 2 pips. I also haven't seen any huge spikes on my charts at news times thus far.
More...
Wouldn't fixed spreads mean the broker isn't functioning as an ECN? Stocks and futures don't have fixed spreads.
 
Quote from GTS:

Wouldn't fixed spreads mean the broker isn't functioning as an ECN? Stocks and futures don't have fixed spreads.
More...

Not sure, but that's what I've been getting at. Hope Steve will read this and let us know.

To be exact, the spread is at 1.90 MOST OF THE TIME, not always.

I know I should've mentioned this as there's a big difference. However, the spread on Cable seems to be more constant than other pairs.
 
You will see all the spreads move around but the biggest liquidity providers seem to have fairly constant spreads that they deliver. This is why in relatively quiet times you can see consistency but they are not fixed.
 
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