MB Trading
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Overall
mbtrading very bad attitude on the phone. Smart mouth reps, unprofessional and argumentative.
I do have an account there for years, and was inquiring about mt4 demo recently and the dude was disrespectful and unwilling to even acknowledge that the platform's inability to increment micro lots with the same functionality that it does with mini and full lots, was an important capability.
Denied that many people even use mico lots, therefore it wasn't really necessary to make the platform as useful for micro lot traders.
MBT started out as a stand out company back after the dot com boom . I remember when they first started up, they were very serious about integrity and great service. They were the new kid on the block and were going to do it different than all the rest.
Boy how things have changed at MBT.
In the past I would have recommended them to anyone, but not now.
Overall
Before i show this data, im quite like MBT. Its spread, service, EXN ...etc are quite good for me, and i have already decided to open a live acc. But, today i saw this on demo acc, i can't believe what i saw. Is it normal for you guys? My other demo acc (FXpro) doesn't happen that thing on that time, and i can't imagine this happen on live acc if my st/tp is close to the price. So anyone know what happened.
Overall
then instead of using MT4 (definitely not pro grade), which i cannot fathom why people love that app so much (eSignal, NinjaTrader, JForex are all better), use MBT Navigator Pro which now has charting similar to eSignal (eSignal about USD 1,000/yr, MBT Navigator Pro = free).
Overall
I have been with MB Trading for 2.5 months now, and during this period I did 700+ trades (mostly scalping). My rating: platform 8, pricing 8, customer service 8, features 7. To put things in perspective, that's a pretty high rating on my scale, and it is for the moment my broker of choice. Below are a couple more things I want to add.
The bad:
- hedge not allowed for US residents (thanks to the government who insists to "protect" its citizens). I marked this as "bad" since other brokers (ATC Brokers, FXDD) found a legitimate way around the issue. Hopefully that's there to last, and other brokers will take their example.
- the $2.95 commission shown on their website is in fact "per side", so it's $5.90 round-trip. That would still be pretty good, until you realize the commission is "per 100,000 USD". So with the USD being less worthy by the day, you end up paying commissions like $8.50 on EURUSD (2.95 * 2 * 1.4400) and $9.56 for GBPUSD (2.95 * 2 * 1.6200).
- slippage exists, and sometimes is a couple of pips, but I don't have a baseline for how would the slippage have been at the same time on the same pair, so take this with a grain of salt (execution is fast, so I just guess I got slippage only when the market was really moving fast, illiquid, or both).
- the web ticketing system is not working half the time. Often I get tickets updated but I cannot view them (access denied), and I just guess they posted my payment into the account, and check MT4 history for it. I told them about this issue, said it happens the same on all browsers I tried, but they did not have an idea why. Not a very big deal, since you can reach them via phone and email, but worth mentioning.
- they have about 7 minutes of downtime every day, when the rollover occurs. Other brokers don't disconnect you, just widen the spread, so I guess considering this bad is a matter of taste.
The good:
- spreads are indeed low, and increase just a little during the Asian session. Comparing results of my scalper EAs on MB Trading vs. other brokers, results are slightly better at MBT, even after the higher commissions.
- earlier this year they introduced negative commission (i.e. they pay you) for limit orders. So whenever you enter or exit the market with a limit order (hitting the TP is one such exit) you get a credit, which is really nice, and adds up over time.
- they just introduced adding funds via a credit card. I was about to list the slow addition of funds in the list of negative things, but now, when doing a credit card funding, the process is really quick (did that 3 times so far, and it took 1 hour two times and 1 business day the other time)
Hope this helps!
Remus
Overall
I have trade for 3 month on MBT, I use MT4 platform. The bad news is thier MT4 live server was not good. To many shut down.
I was complain that to thier live support but they were not explanation about that.
I'm not recomended trade here with their MT4 live server.😭 thier live server with demo very different.
I have closed my account.Trust me
Overall
I couldn't have wrote it better myself. I asked and the reason they don't accept cc or paypal is that they don't want people gambling money via credit that they really cant afford to use.
I.e. using a 20k credit card and loosing it all, then trying to say the cc was stolen...
They are extremely fast with with drawls and deposits. Well worth the small commission.
Overall
I have been trading with MBTrading for over than 2 years now. It is by far, my choice of broker. They had commission on each trade but, spread are very low on major pairs and price execution is filled very fast.
The customer service people are also very helpful in helping clients problem. It is just not me who trade with this broker, 2 of my friends are also prefer MBTrading for their brokerage needs. (They trading option and stocks). They also not having problems and difficulties with MBT so far.
I think the only minus thing is that they lack of deposit option like paypal or credit card.
Overall
SniperNCE,
got the same on live and demo account but this is NOT an error, it occures when your open a position against an other open position into the same currencie!! ==> called HEDGING. as they are US based they are not allowing this.
I'm with them for about 9 months now with a small account and I have no issues. i'm using AE's among manual trading and got good results on their platform, even during Asian Sessions. I'm considering upgrading a few K€ my account.
I lost also money on their account but this was purely my fault. I'm using them through a VPS. Throught my home PC I have & had a connection open and tried at the same time to open a session when I was at my office with my Iphone. What I didn't know is that the two sessions together opened double trades. unfortunaly thoses trades worked against me.
In my eyes the commission is OK.
Minus point is that there is no credit card funding.
Overall
I tested this broker on a demo accout because I was looking for a micro forex account. But even on the demo account I get errors all this time, for example "too many orders".
Is this also an issue on a live account?
Overall
I have been running a small live account with them for about 4 or 5 months now.
Pretty good implementation of MT4 ECN which can be problematical. Their spreads are excellent but their commission could be better. They charge $80 per mil compared to Jade's $50/mil or Dukascopy $36/mil. At the same time they are less than IamFX and PFG.
Being ECN you will never see a requote but slippage can be an issue. I have not had major slippage but it is worth keeping an eye on it.
The trade execution is pretty good, although they seem to have issues just about at rollover time. Seems they cannot provide connectivity at the same time as the rollover is being done. Being locked out for up to 15 minutes at this crucial period is still an area of concern for me.
Customer service is pretty good with people available on chat at any time to help you. They also have an advanced encryption system that will prevent MT4 running on your account from any computer that is not authorised.
To sum up, I have a live account with them that is profitable and I intend to increase my deposit with them.
Overall
I like there new Mt4 platform. It is an ECN MT4 according to them. I'm not so sure because I have never traded on Dukascopy or another reputable ECN before so I have nothing to compare it to. I am however, pleased with the tight spreads. They take a commission but its a minuet amount. I have never had any requotes or slippage, everything is quick execution 1 to 2 seconds.
Overall
Been using MBT for about 1 year now, no major issues to report. Spreads are not bad, usually get 2 or 2.5 on EURJPY, and have seen smaller spread (0) day to day. Commissions don't bother me and if you trade a high volume, you can speak to an account rep to lower the commissions.
Have take out lots of $$ from my trading account, wire transfers happen same day (pay $20 for the wire, no big deal for me).
Execution is fast, never had a requote.
Some people don't like the trading platform. I like that its just a trading platform. They now have MT4 which I use for my charting (set up a demo acct through mt4 software). also have some research and notes stuff if you're into that (i dont - never trust an analyst :))
Cust service could be better. Only had one issue - with my pw, and it took 2 days to get sorted out. A couple of times they had system-wide issues and couldn't log on for a couple of hours, but that hasn't happened in over 6 months.
Overall i'm pleased with the service.
