Thank you all. If this is common practice I don't mind. I guess I didn't run into this before since my checks were sen't to already established accouns with funds in them.
Another solution, if MB offers the service, is ACH transfer which is "free" and fast. I just checked the MB website; here is a copy of their information about ACH: "ACH Transfer - Coming Soon! Electronically transfer funds from your checking or savings account to your MB Trading account" Sorry, maybe later!
I have not used MBTR but Ross (of MBT) commented on SI about MBTR vs. MBTX. ----------------------------------------------------- Will orders routed to MBTR have less liquidity and thus, might the executions possibly be inferior to MBTX routed trades? >>>Yes, exactly. ------------------------------------------------------ My guess is that someone taking longer term swing or position trades might choose to go with the new commission plan that uses MBTR but a more active trader would likely prefer to have the better executions and more liquidity of MBTX.
WOW! One of the reasons I switched to them last week was their new .004 rate. Surprise: it's gone. I'll call them on Monday.