Mb Trading

Discussion in 'Retail Brokers' started by lmf, Apr 8, 2009.

  1. lmf

    lmf

    Dear MB Trading,

    I just had a disturbing chat with one of your representatives, Kaine. My issue is that my buying power is out of whack and shows a negative balance, therefore, I am not able to trade globex futures during this time.

    This is the second time this has happened to me in 24 hours. The first time it was fixed very quickly after I brought this to your attention.

    The second time was just a few minutes ago and here is the chat transcript:

    Securities products are offered through MB Trading, member NASD, SIPC, MB Trading Futures, Inc. (MBTF) and 3DForex, LLC are CFTC registered FCMs and members of NFA.
    You are currently at position number 1 in the queue.
    All agents are currently busy. Please stand by.
    You are currently at position number 1 in the queue.
    An agent will be with you in a moment. Thank you for your patience.
    You are currently at position number 1 in the queue.
    The next available Agent will be with you in a moment.
    You are currently at position number 1 in the queue.
    All agents are currently busy. Please stand by.
    You are currently at position number 1 in the queue.
    An agent will be with you in a moment. Thank you for your patience.
    You are currently at position number 1 in the queue.
    The next available Agent will be with you in a moment.
    You are currently at position number 1 in the queue.
    All agents are currently busy. Please stand by.

    You are currently at position number 1 in the queue.
    You have been connected to MBT Kevin.

    MBT Kevin: Hello, Welcome to MB Trading! How may I help you?
    lisa: hello. account number XXXXXXX. I am having an issue with my buying power. it is really messed up. showing 2million dollars negative, not allowing me to trade. this is the second time this has occurred today. how can I get it fixed permanently?
    MBT Kevin: checking
    lisa: thanks
    MBT Kevin: I see
    MBT Kevin: this will be correct once we upload our file from Penson
    MBT Kevin: this will occur at 1am pst
    lisa: at 1ampst?
    MBT Kevin: correct

    lisa: is this going to happen every night?
    lisa: this is second time in 24 hours
    lisa: I am not able to trade right now

    MBT Kevin: yes it most likely will happen again again

    lisa: is there a way to trade?

    MBT Kevin: however not all the time
    lisa: what?

    lisa: you are kidding , right?
    lisa: should I change brokers?
    MBT Kevin: no I am not

    MBT Kevin: sorry unfortunately this is the way it is

    lisa: so, let me get this straight. I cant trade globex futures because you guys are not going to fix the problem?

    MBT Kevin: the correction will not be made till 1am pst

    MBT Kevin: you can call the futures trade desk and place a trade
    lisa: I understand that part, but your customers are locked out of trading on globex?...every night? and MBTrading just doesn't care?

    lisa: it is what it is?
    lisa: do I have that right?

    MBT Kevin: No not at all
    MBT Kevin: MB trading does care

    lisa: I am confused
    lisa: MBT Kevin: yes it most likely will happen again again
    MBT Kevin: Lisa do you have a # I can reach you at?
    lisa: I can call you in the am Kevin. are you aroung tomorrow
    lisa: what time is good to call you
    lisa: around
    MBT Kevin: Actually my name is Kaine
    lisa: Kaine
    lisa: what time?
    MBT Kevin: I am sorry however I will not be in tomorrow morning
    lisa: what time tomorrow is good for you?
    MBT Kevin: however you can call the futures trade desk
    MBT Kevin: and speak with them
    lisa: OK
    lisa: thanks
    MBT Kevin: they will be able to explain to you in detail

    This is very disturbing customer service and I know this is not how customers are treated at MBTrading.

    Please fix this issue with your employee and have him take a class on chatroom etiquette. Or fire him, maybe he just hates his job, or was long the Euro.

    Lisa M Folickman
     
  2. IB should use this in their next ad campaign.
     
  3. Pippi436

    Pippi436

    Yes, they do this from time to time. Spilled some coffee over this myself, its a nice shocker. And its not even them, its Pension/GHCO screwing something up in their backoffice. Or that's the usual story told anyways.

    Funny that this is still going on (cxld my account there quite some time ago).
     
  4. Brandonf

    Brandonf ET Sponsor

    I think that all he was saying to you was that yes, at some point this might happen again. It's not like MBTrading wants this to happen, they lose money when you can't trade too, and from a customer service point of view I'm sure its a nightmare. But it seems to me he's just being honest with you, which some brokers have a hard time with, and telling you that yes, as hard as we try to not have it happen it may happen again.