What is up with M B Trading ??

P

pokito

M B just dropped my data feed yesterday because their fee structure changed. No email, no communication - no advance notice of any kind. When I called in, I was asked to go to account set up, sign up for new package etc. before getting it back on. They seem so disorganized lately.
Their 24 X 7 customer service gone too - only regular trading hours now.
And, check this out - no online ACH in/out - you have to email cashiering dept. etc. The other option is snail mail. I guess their clearing agent Knight Trading is still fine tuning their software (yes, this is the same Knight that lost 440 Mil in under 30 minutes due to software glitch).

Anyone else have bad experience with M B?
 
Yesterday, I had the same experience you had. I thought surely they must have sent an email about their new fee structure and I just didn't see it. But no, they dropped the ball on this one by not sending any advance notice. So I had to call in and increase the workload of their tech support people. To their credit, Chris in tech support took my call promptly and was easy to deal with.

I didn't know about them not having online ACH in/out. Is this a temporary thing until they get their software up to speed?
 
I got this email previously about futures quotes, not sure if you are referring to a different data feed.

In general I agree about MB - they are very slow responding to support tickets and they still have problems with quote lag and trade fill reporting sometimes during fast market conditions. I keep them as a secondary/backup broker and use IB as my primary...at least for now (see thread on IB's new exposure fee which has me reconsidering if I should remain an IB customer)

From: MB Trading [mailto:noreply@mbtrading.com]
Sent: Thursday, June 12, 2014 7:31 PM
Subject: Futures Data Changes. Breaking out Top of Book and Depth of Book


Dear Valued Client:


The futures exchanges recently separated "Top of Book" (Level 1 best bid and ask) and "Depth of Book" (Level 2 or market depth) quotes into two separate pricing levels. So that you will not be charged unnecessarily, we will disable your market depth futures quotes starting after the close of the markets on Monday, June 16th, 2014. If you would like to continue to receive market depth for futures products please follow the instructions below.


1) Log into http://www.mbtrading.com

2) Go To: Accounts > Profile > Quote Preferences

3) Then select the corresponding futures depth quotes you would like to receive.


You may take these steps either before or after Monday, June 16th, 2014, to continue to receive market depth.

Fees for futures quotes can be found by visiting: http://www.mbtrading.com/futuresSoftwareFees.aspx
 
trendo said:
Yesterday, I had the same experience you had. I thought surely they must have sent an email about their new fee structure and I just didn't see it. But no, they dropped the ball on this one by not sending any advance notice. So I had to call in and increase the workload of their tech support people. To their credit, Chris in tech support took my call promptly and was easy to deal with.

I didn't know about them not having online ACH in/out. Is this a temporary thing until they get their software up to speed?
More...
Knight has been working on their ACH in/out for almost 2 years I think. Who knows what the hold up is?...May be they have strict change control in place now after the last bug wiped out nearly half the market cap (I think it did - buy high, sell low)
 
I had accounts there in 2013 then moved the accounts. ACH was not a problem. Are you sure the issue is not with MB trading or your request? You can only send cash to another account in the same name and EIN/SS# or a bank with the same name.
 
1245 said:
I had accounts there in 2013 then moved the accounts. ACH was not a problem. Are you sure the issue is not with MB trading or your request? You can only send cash to another account in the same name and EIN/SS# or a bank with the same name.
More...

MB Account, EIN, SSN, PIN ..any other Ns all in my name and so is the Bank Account. I should what someone here suggested and keep MB account just as back up and not the main trading account. I am noticing a lot of latency in their data too...oh well.
 
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