I'm not happy with MBTrading

Discussion in 'Forex Brokers' started by martin, Jan 29, 2009.

  1. martin


    like ECN brokers more than oanda type. I test them both and definitely ECN broker are much better. Particularly when we talking about stops hunting. I save many trades with mbt that with oanda will be hunted. I'm not talking about single example, it's happend to me many ,,many times with oanda.
    I'm doing daytrading eur/usd with 30 secs chart, very specific trades, normally I'm doing around 10-20 trades a day.

    MBtrading problems:

    The first one ROLLOVER. SUCKS
    I will like to place some position trades, but with the percent you get it everyday, make impossible to get a profit, because you are fighting with two opponent THE TREND and MBtrading.
    For instance very classic pairs like
    Gbp/usd +0.42% / -5.15%
    EUR/JPY +0.2% / -4.70%
    EUR/USD -0.85% / -3.95%
    USD/CHF -2.25% / -2.65%

    Check yourself, have a look a classic one, like EUR/usd. this one its moving an average at this time of 220 pips daily, so we talking around +-1.75% right now, so make the calculations and you will see what it's really happend. You have to get the trend and also the pair must move above the the percent you are charge every single day,. .. not very easy. compare with other broker.
    This is the worst part, and please do not bull**** me about some burocracy-policy-ecn-provider or whatever bank price regulation,.. bla , bla , bla

    I just trading eur/usd so following mbtrading commision I got charge
    0.0005 x 100k x 1.3200 = $6.60
    the trick here is that you have to close it, so x 2, and now we talking about $13.2 for a 100k eur/usd.
    the problem here is that the commision it's not fix, is moving deppending on the pair. So I will like to know what they will do if the eur/usd drop to 1.00 -0.90 or worst. they will keep this system to calculate the commision?

    Apart from that, I don't like mbt navigator. After 200 trades I'm still not happy with the platform.

    I check dukascopy and interactive broker. The first one looks some kind of scam, and the second one, I had an account with them few years ago
    (futures eurex) I don't like them very much. I found very bad comment about fx platform. Of course the customer services SUCKs too. Probably the worst around.

    So any other option guys?

  2. martin


    !04 views and 0 reply,.. very interesting.

    I did 31 trades this week. I made 46.1 pips but I have to pay commission with mb so 31 trades Eur/us cost me 39 pips.
    Finally 46.1 profit , convert to just 6.1 pips.
    Not very good for a scalping strategy.

    i really appreciate if any scalper might share with me, a better broker.
    I already check hotspot, but spread its a little bit wider than mb. Mb charge double than any other ECN

  3. In the absence of any other replies, what sort of monthly volume and contract size are you trading, it's going to make a difference to what sort of deal you can get.

    I know you said you don't like Oanda but I'm a scalper as well and apart from the occasional glitch (they had a spate of them a while back!) I've found their fills fine most of the time and their spreads competitive.
  4. I scalp the E/U using Oanda as well. No issues.

    I also have an account with MBT that I don't use for a reason.
  5. Not very many people around here use MBTrading to scalp the currency pairs.

    I know it's frustrating.

    Good Luck

  7. Hey MandelbrotSet, how's it going, well I hope!
  8. ccooper


    The swap rates are negotiable with MB Trading. If you have enough volume, you can get them decreased. When I was trading there, my net swap costs were about one percent (subtract one direction from the other).
  9. martin


    Really suprise me. when I trade with oanda I use stops like 10-15 pips and got hunted many times.
    I'm doing with mbtrading stops 5-10 and the price might be at the same tick like my stop and it's not executed.
    With oanda even without touch the stop they close my position many times, and for that reason, now I make pips and with oanda the best option was BE.
    So no thanks.
    And I think that is not common sense to place an order with some company that play against you.

    At this time I trading with 10k, and following my money management rules I can't increase the contract size. If I'm keeping making pips in the next few month might jump to 20-30-40k.
    So now I can't place a standard contract, the broker must allow me to place minis.

  10. So.....

    You do or you don't like MB Trading?
    #10     Feb 2, 2009