Why don't people switch to MB Trading?

Yougottabekiddinme...

There is no broker but IB for 90% of retail traders IMHO.

The Markets. The Commission. The Technology. ---> IB is bitchin.

Yeah, they sometimes have problems. What broker doesn't? Have a backup broker if you trade at high margin.

And if you only trade a few futures or stocks at high volume and don't use the API, maybe you could negotiate better rates and use another broker.

Otherwise, it's IB all the way.

Good trading to all. :cool:
 
Many people are attacking MBTrading.

I have accounts at both IB and MBTrading where I trade long term strategies and from my experience with them I can say that MBTrading is a great firm in terms of customer support, very friendly and helpful people, IB's customer support sucks, very arrogant I can assure you that.

Definitely MBTrading lacks in terms of trading instruments and markets, and their software is just basic but decent.

I wouldn't recommend MBTrading for any day trader, but if you are longer term trader then I think MBTrading will be just ok for you.

If you are day trading then just forget about both and look at Laser or Sterling.

Just my thoughts, may be as I am still a newbie ;)
 
a large chunk of my trading is shorting under $5 stocks.

mb, because they clear through penson, does not allow this except for the huge stocks.

for example, JDSU is shortable...but the real active ones aren't shortable. and their short list on the high flyers above $5 is lacking.

so that is from my POV. i have accounts @2 brokerages, and will add a third next year (i'm doing my research now)...
 
I also have accounts at both, I don't think MB's interface is bad but it takes time to get used to it and learn the tricks to make it fast/efficient. I think IB's interface can be a jarring the first time you use it as well. Since there are 3rd party interface options for both I don't see that as being crucial.

I prefer MB's API/SDK over IB's and you dont need to have their client running in order to use it. MBT's data feed is a true tick feed not aggregated data like IB although it does lag during peak times so take your pick about which is "better".

I have had limited experience with IB's customer service so I can't comment on how good or bad it was but I have been very pleased with MBT's service.

IB definitely offers more products for trading and currently you have to have a separate account at MB for their Forex trading which sucks. IB's rates a definitely better then MB's, across the board I believe.

If someone were pissed off at IB and absolutely had to switch brokers then MB is probably one to consider but I don't see going from IB to MB as a step in the right direction for a serious trader.
 
Quote from pairsarb:

Yep, when I was a newbie, back in 1999 2000 I went to this group, I think it was called OC daytraders..something like that. MB trading was the only firm they would talk about. Back then, suckers were paying like 19.95 a trade, just for "direct access." A total joke.

MB has always come across as a carnival act, no professional trader I have ever known has traded with them. There software was, at the time, ok but still archaic.
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Back in 1999-2000 the cost was typically $20 - $25/trade whether it was All-Tech, Block, Momentum, etc. So that was the going rate then for retail.

I've been with MB for over 4 years and wouldn't change. Reliability is good, customer service is the best I've seen and commissions on stocks are almost identical to IB. In fact, they can beat IB in equities pricing for some orders.

Also, MB pays interest on ALL of the funds in your account, and doesn't exclude the first $10K.
 
Quote from 50 cent:

their software was a total joke last time i checked it. it took like 5 or 6 steps to modify a sitting order. in TWS (IB's platform, for those who don't know) you do it with one mouse click.

i even asked those who tout MB (someone from the education industry) how can he like this platform if such a basic and crucial function is so complicated. he said that it doesn't bother him. as i said, these guys don't trade anyway, so sure, why would it bother them.
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You click on the order, change price/quantity and it's done. Not too complex ...
 
Quote from Tums:

I have looked at their website. They look like a decent firm, with good commission rates, powerful software, free quotes, competitive interest for free cash.

People whine about IB so much, but why don't they switch?

Anybody have experience with MB vs IB?
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How long have you worked at MB?
 
Quote from TorontoTrader2:

How long have you worked at MB?
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you can't figure out whether to raise the St Clair track by 6 inches, and figured out I work for MB?
 
LOL
The minute anyone makes a favorable comment about MB your assumed to work for them.

Been some awful bitching about IB reliability last 2 days.
OMG.
You mean IB has problems?
Its not perfect?
 
When MB provides historical data functionality through their API set then I'd be interested. I did consider them but ended up going with Cybertrader and IB.

I'm using IB and happy with it except for the aggregate data problem. I wish they would just offer a small fee to get accurate real time tick data feed for those that want it.
 
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