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MB Trading

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Joined them initially when they offered pay for limits and seemingly tight spreads.

 

It wasn't long before they cut the pay for limits to about 25% of what the initial offer was.

 

There were problems with with depositing and withdrawing money (i.e. they charged for it).

 

There were problems with their pay for limits (i.e. I had to contact them on more than one occasions because the commission calculation was wrong)

 

There were problems with the server (i.e. several times there was no access to any trading platform, for up to an hour, and this occurred during very volatile times U.S. open and the next 90 minutes or so).

 

There were problems contacting customer support.

 

 

As for the spreads, they were reasonably tight, around 0.9 pips for EURUSD for example. Sometimes lower, but it wasn't 'really' lower. Meaning that there was an order for 3000 for example that tightened the spread and made it look less. But the real tradeable spread was much higher.

 

I almost never got filled on limit orders unless price moved fully through my limit order. So the ECN doesn'#t work well as there simply aren't enough traders. There were many trades I probably should have been filled on, but wasn't because of the lack of otehr participants.

 

On the plus side, I did occasionally receive positive slippage.

 

Lastly, your funds are not guaranteed. Regardless of what they try to tell you, if they go bankrupt, you have no recourse to your funds.

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Wow, interesting. Thanks for the feedback!!

 

Joined them initially when they offered pay for limits and seemingly tight spreads.

 

It wasn't long before they cut the pay for limits to about 25% of what the initial offer was.

 

There were problems with with depositing and withdrawing money (i.e. they charged for it).

 

There were problems with their pay for limits (i.e. I had to contact them on more than one occasions because the commission calculation was wrong)

 

There were problems with the server (i.e. several times there was no access to any trading platform, for up to an hour, and this occurred during very volatile times U.S. open and the next 90 minutes or so).

 

There were problems contacting customer support.

 

 

As for the spreads, they were reasonably tight, around 0.9 pips for EURUSD for example. Sometimes lower, but it wasn't 'really' lower. Meaning that there was an order for 3000 for example that tightened the spread and made it look less. But the real tradeable spread was much higher.

 

I almost never got filled on limit orders unless price moved fully through my limit order. So the ECN doesn'#t work well as there simply aren't enough traders. There were many trades I probably should have been filled on, but wasn't because of the lack of otehr participants.

 

On the plus side, I did occasionally receive positive slippage.

 

Lastly, your funds are not guaranteed. Regardless of what they try to tell you, if they go bankrupt, you have no recourse to your funds.

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I can only give my perspective from futures trading. I still have an account with them, but it has been dormant with zero balance for well over a year. They changed their fee structure to where the mini version of most contracts was free of data fees, but to trade full sized contracts like CL, GC, ZC, etc, it was $61 dollars a month for EACH exchange, except the ICE was I believe more like $ 75! Basically this told me they are not interested in serious futures traders, only those wanting to solely trade the ES, NQ, YM, and maybe something like QM, the mini oil.

 

One thing I liked about them was that unlike most futures brokerages, they do ACH transfers the same day with no fee. And I never had any book keeping issues or errors.

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Many of the same issues here. Often times the platform would go down for a while. This very often occurred when it would be to MB Trading's advantage. Certainly not reliable enough to day trade. Limit orders do not get filled unless the market goes completely through them and occasionally they just refused to execute stop and market orders for hours at a time. The Chief Risk Officer is an unethical scumbag.

 

Would not recommend.

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