Why don't people switch to MB Trading?

Discussion in 'Retail Brokers' started by Tums, Oct 11, 2006.

  1. Tums


    I have looked at their website. They look like a decent firm, with good commission rates, powerful software, free quotes, competitive interest for free cash.

    People whine about IB so much, but why don't they switch?

    Anybody have experience with MB vs IB?
  2. I guess you haven't read the Broker Review section of the site.

    Also, $4.50 R/T for e-minis? No Thanks.
  3. I didn't complete a Broker Review, but I did comment here and again here.

    - Spydertrader
  4. Tums


    I thought people pay $4.8 at IB?
  5. Sanjuro


    Minis $3.62 at IB

  6. is that comm with or without exchange fees?

  7. MBT is a toy broker comparing to IB. not to mention its history of malfunctioning systems and outages. one time, they were off line for so long that they offered their clients free trades as a compensation. they are not a broker for a professional trader.

    what they do have is good PR - they get promoted a lot by the trading education industry (that doesn't consist of traders, btw) and that's why newbies get exposed to them a lot.
  8. Yep, when I was a newbie, back in 1999 2000 I went to this group, I think it was called OC daytraders..something like that. MB trading was the only firm they would talk about. Back then, suckers were paying like 19.95 a trade, just for "direct access." A total joke. I was a prop guy right off the bat and paying .03 per share...so theses newbies at MB were paying 20 bucks to trade one side of a 100 share trade. BAck then the market moved more...but still...i paid 3.00 to make the same trade. When I talked about the idea of paying per share, the newbies just didn't get it. They had to make 40 cents just to break even on their 100 shares, when I had to make just 6 or so.

    MB has always come across as a carnival act, no professional trader I have ever known has traded with them. There software was, at the time, ok but still archaic. Esignal had better charts even back then, so I used them with rediplus. Perfect. That Townsed couple sure made a mint, though, in those early days.
  9. their software was a total joke last time i checked it. it took like 5 or 6 steps to modify a sitting order. in TWS (IB's platform, for those who don't know) you do it with one mouse click.

    i even asked those who tout MB (someone from the education industry) how can he like this platform if such a basic and crucial function is so complicated. he said that it doesn't bother him. as i said, these guys don't trade anyway, so sure, why would it bother them.
  10. MB doesn't have anywhere near the range of markets that IB has.

    The API seems only to be COM based - yuk !
    #10     Oct 11, 2006