http://www.cftc.gov/files/tm/fcm/tmfcmdata0706.pdf anyone is with them? seems that they have decent commissions wonder if they are in trouble... little net excess capital...
If they're not in trouble they should be. 1) Lousey for options (policies & slow/bad quotes). 2) Poor management; their Ops Director will drop you in a flash if you complain about anything. I had experience with them & on several occasions they"took over" my computer (1/2 to full day) so they could debug NAVIGATOR software problems which never got fixed (hard to win when your're locked out of your computer while trades are active).
How can they "take over" your computer exactly? P.S. MB is around since like 10 years, why should they be in trouble right now and/or be in more trouble than the last 10 years? Your pdf just shows they are in compliance with NFA/CFTC requirements.
My major problem with MBTrading: this company will give you wrong postions from time to time. If you forget your own position at MBTrading (I did forget my exact position at this broker because I have quite a few brokers and have a lot of overnight positions over these brokers), you may be in deep trouble when MBTrading forget your positions at the same time. How often does MBTrading forget your positions? I think it happens at least once every quarter. That's unbelievable! This kind of situation has never happened in my other brokers (IB and CyberTrader). This kind of error by MBTrading cost me a few thousand dollars in the past. Of course, MBTrading has never apologized for this kind of error. In fact, MBTrading thinks that it is very natural to have this kind of error. If customers make mistakes because of MBTrading's error, that's customers' fault. That's basically MBTrading's attitude. The other problem of MBTrading: its level II "real-time" quote is about one second behind CyberTrader's quote even after MBTrading's latest quote improvement. One second delay can cost you a lot of money. Of course, MBTrading's commission is not low either. I used to trade mainly in this account when I started my trading career a few years ago. Now I rarely traded in this account. I use this account mainly for backup purpose right now.
Penson is the Clearing Firm for MB Trading. Wouldn't it be more appropriate to look to Penson for Excess Capital and add MB Trading Excess Capital on top of that for coverage.
yes penson clears mb trading and they're the biggest independent clearer and strong. on the other hand mb trading's platform and fills are horrid. i was there a year and compared against ib and there fills were terrible.
Pippi436 - They can "take over" your computer thru software such as LogMeIn (free) LogMeIn offers the freedom & flexibility to Work on your office PC from anywhere Travel & access your PC from any web browser Access your programs, email & network This type software is what Microsoft & others use to do auto updates.
Author tryed to open account with MBT ,but this company rejected author (possibly ground non USA resident)