MB Trading

Gcapman · May 25, 2010

How safe is MB Trading as a broker?

I just don't want them going bust and me losing my entire deposit...I'm looking to trade S&P contracts and Euro contracts

Thanks in advance!!

DHOHHI · May 25, 2010

I've been with MB almost 8 years. I now have 3 accounts with them. They clear thru Penson. SIPC coverage on accounts up to $500,000 with $100,000 in cash. Additional coverage thru Penson. I think they've been around since the late 1990's.

They have a presence here on ET and also on SI (Silicon Investor).

Gcapman · May 25, 2010

Quote from DHOHHI:

I've been with MB almost 8 years. I now have 3 accounts with them. They clear thru Penson. SIPC coverage on accounts up to $500,000 with $100,000 in cash. Additional coverage thru Penson. I think they've been around since the late 1990's.

They have a presence here on ET and also on SI (Silicon Investor).

Thanks for that info

Would my futures account be safe?

I plan to only do intra-day trading so my question is do they sweep cash into the protected portion eligible for SIPC should something happen to them? I know Interactive Brokers does it does for their futures clients -- since futures accounts are technically not eligible for SIPC in the event of firm insolvency.........

DHOHHI · May 25, 2010

Quote from Gcapman:

Thanks for that info

Would my futures account be safe?

I plan to only do intra-day trading so my question is do they sweep cash into the protected portion eligible for SIPC should something happen to them? I know Interactive Brokers does it does for their futures clients -- since futures accounts are technically not eligible for SIPC in the event of firm insolvency.........

I only trade stocks. Sent you a PM with contact info for the CEO who will likely answer anything.