anyone trade Forex with MB Trading ?

Discussion in 'Forex Brokers' started by bltoby, Jul 15, 2006.

  1. bltoby


    considering open an account at MB Trading, I think MB Trading is good but their commission is too high.($10 per $100,000 round trip)
    Does someone have experience with them? or recommend some reliable brokers, with whom i can trade 10K or less per lot.
  2. I've been with them for several months. They are Best of Breed. I've never been requoted, I get fills just as fast during fast markets as slow, can trade at will during such events like NFP, can scalp, never had a problem getting checks, NAV platform is extremely stable and not a resource hog and excellent customer service. They also do not trade against you like the buckets do. As far as the commish comes ... for me it's a non issue. Most of the times that I am trading I am getting 1 pip spread max, sometimes 1/2 pip. There are times during the US session that I trade at 0 pips. Yes, several times per session the bid/ask are the same. In some fast markets the bid/ask actually get inverted for some free money if you react fast enough. So, worst case scenario I'm paying the equivlent of 2 pips which is what most buckets offer while they are bending you over.

    No affiliation and YMMV.
  3. i wouldn't trade with mb. ib 100-1 better. i had to close my mb account as it was awful fills on stocks
  4. Was anyone discussing stocks or do you always talk before thinking?
  5. Has anyone here used Oanda and MB and put up the quotes side by side?...

    I am looking for a backup Broker and I need someone with experience in both to tell me the differences.

    I do not trade Stocks, just Retail Spot Forex...How many pairs do they have? Any Exotics?

    Isn't MB the one with a sweep account? Do you earn any intertest on the cash balance?

    Do they have minis or is it lots? I am going to their website now but if anybody has used both Oanda and MB it would be appreciated if you can compare.

    thanks in Advance...

    Michael B.

    Late Edit.

    Commissions are based on total dollar amount traded: $5 per $100,000 traded

    does this mean that is their minimum? even for one mini?
  6. As low they are variable?

    EUR/USD 1/2 pip
    EUR/AUD 7 pips
    USD/JPY 1 pip
    GBP/USD 2 pips
    USD/CHF 2 1/2 pips
    USD/CAD 3 pips
    AUD/USD 3 pips
    EUR/GBP 1/2 pips
    EUR/JPY 3 pips
    EUR/CHF 1 pip
    GBP/JPY 5 pips
    EUR/SEK 22 pips
    EUR/CAD 4 pips
    USD/MXN 50 pips
    USD/SEK 2 pips
    USD/DKK 7 pips
    USD/NOK 25 pips
    CHF/JPY 3 pips
    GBP/CHF 3 pips
    CAD/JPY 3 1/2 pips
    AUD/JPY 3 pips
    NZD/JPY 5 pips
    NZD/USD 2 pips
  7. I have no lengthy realtime experience with Oanda. I closed my account fairly soon after I opened it. I just never had a comfortable feeling with them calling thier demo a "game" and hawking cheap travel packages on thier site. Not that I had any bad experiences, just a bad gut feeling. The only real negative was the way the spreads would go huge during cery fast or very slow markets. I once had a 9 pip spread on eur/usd. The largest spread under the same conditions at Mb is 3 at the sunday night session open and maybe during rollover.

    I'm sure you already got most of your questions answered at the site but as to the commish ... one 10k = .50
  8. I have been demoing the MB platform now for about a week. If the spreads on their demo version resemble the real spreads, they should be ultra tight !!

    I had to rub my eyes first when I saw the 0.5 pip spread on EUR/USD or the 2 pip spread on NZD/USD at times.

    Yes, spreads are variable.
  9. Do I make interest on my cash balance at MB (Oanda is around 4.87% APR)...and do the interest rate differnetials pay more at MB?

    Michael B.
  10. mktman


    #10     Jul 15, 2006