Hello EliteTrader community, I intend to open an account with MB Trading and would like you to tell me your experiences with this broker. From my knowledge it is a rather small broker (6000 accounts only?) but with fast order execution, inexpensive commissions, good customer service and a good reputation in this business. This was at least true 4 or 5 years ago but how does it looks like nowadays? Looking forward to your comments.
Thank you MTE for your quick response. I have seen this thread of course. What I'm interested in the most is the question, how safe it is to commit money to such a small broker. This concernes me a bit, especially as I am not a US resident (living in good old Europe).
If you want safety you need to go with a large broker, like Refco. Oh wait, never mind. If you're worried about that, call them up and ask for some info on their capitalization and their holdings. IB comes up with that kind of info, MB should be able to also. I was happy with them except for their trading hours (when I was with them it was 8 AM EST to 8 PM EST including futures). If they had been up 24x7 (and if they'd had GTC orders -- which I've heard they now do have) I'd probably still be with them. SSB
DaWee I do not live in the US....and the interesting points here concerning safety....brokerage coverage...capital...etc...are all very important.... I have been trading since 1978.....and for whatever reason I think that for straight retail: ......................................................... IB and Medved Quotetracker ......................................................... For leverage: GENESIS (nasdaq ...nyse ) ......................................................... These are the best choices in the USA.....
Not a bad brokerage firm at all. I've traded there a couple years. The interface makes it difficult to manage a lot of positions at once, so it's hard for me to do volume there. I wouldn't worry about your capital. They clear through penson for stocks. Customer service is excellent and the president of MB keeps an eye on these boards if something arises. I've spoken with him on a couple of occasions, he's a solid guy who is very in touch with everything going on at his brokerage firm. I'd have more capital at MB if they had a better interface and a more extensive shortable list.
This board is really amazing. So many replies in this short time. Is this only because the markets are closed today? Thank you so far for your help but further comments are highly appreciated.
i have accounts with both mb and ib and not only are ib's commissions much better but there platform is 100 times easier to use. i actually use mb because i don't want to much money with ib. but as far as safety mb clearing threw penson is as safe as any broker out there as penson is huge