Is MBT really an ECN ? - Page 2
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Thread: Is MBT really an ECN ?

  1. #11
    The one thing that attracts me to MBT is that it encourage Ninjatrader which I actually like, but there's a large big problem connecting NT into MBT, when connection dropped, we must Restart Ninjatrader that could take a moment to load each of the stuffs, actually ANNOYING, imagine we have places to manage and we must wait a moment to see it back online.

  2. #12
    If thats true then I will probably proceed with Interactive Brokers. Does anybody know whether they (IB) are an actual ECN, or not a counterparty to transactions?


    Quote Originally Posted by ;
    They aren't a real ECN....at not in the sense that most people believe an ECN means they're trading on the actual market and not contrary to their broker.

    The most frequent perception from retail traders is that using an ECN they're trading over the actual interbank market, and their broker is not taking another side of the trade. Nevertheless that is an extract from the MB trading written conditions:

    MB TRADING FUTURES (MBTF) AS COUNTERPARTY
    THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. MBTF IS ACTING AS A COUNTERPARTY...

  3. #13
    Quote Originally Posted by ;
    Is mbt actually an ECN? If so why the GBPUSD distribute is at 1.9pips...
    Asalada,

    Would you please identify for me what you think that an ECN means exactly? Let's start there.

  4. #14
    They're the worst ECN broker.

    I have noticed price and spread manipulation all the time.

    Looks like they do not get the authentic tight spreads out of their LP or else they don't have any interest in supplying best spreads to the customers.

  5. #15
    Quote Originally Posted by ;
    If thats true then I will probably go with Interactive Brokers. Does anyone know whether they (IB) are a true ECN, or maybe not a counterparty to transactions?
    I think IB isn't market maker and the spread is much much better than the rest of the brokers. U require Ninjatrader for daytrading, and u need to understand the 2.5$ minimum commission each side on fx, which means u want to trade 1 complete lot 100K so it will be an excellent price.

    But if u are a new man, dont go to IB, u will regret it coz they dont have any aid, u can wait for 1 hour till get someone online to help u.

    Last time I applied with IB, the deposit is 10K.

  6. #16
    MB is ok. Sure there are ECNs using a bit better bid/ask-spreads, but they do not accept 1000 unit orders or $400 accounts. You cant expect the same pricing like on ECNs with 20K min. Balance and 100K minimum order. Nickelplayers consistently pay a bit more, same thing in futures or stocks (greater commissions for small traders) or anyplace else. IB costs more for small orders also, with there minimum ticket fee.

  7. #17
    Quote Originally Posted by ;
    Justin,



    How do you explain why the spreads are so secure?

    I attempted IB,Currenex, even AT from FXCM and those spreads vary a lot more gt; banks placing bids/offers and pulling them.

    By way of example the EUR/USD disperse is about 0.9 pips most of the time, when I watch the disperse IB, it varies always between 0.2 and 0.8 pips
    Cocoflanel,

    Our spreads clearly do fluctuate based on Limit orders from our customers. However, we've asked our key liquidity providers to try to maintain more secure spreads. A lot of these companies we've detected create an illusion of movement by flashing their quotes all around the board, and of course, where you get stuffed when they move around like that is actually around them. We also understand that some of the companies showing smaller spreads typically do not allow much size to trade at those prices or else they do a lot of falling and requotes. What we asked our nearest providers to do is to try to maintain tight but fairly steady pricing. Now, of course, one firm may be the bid and one the offer, or we could have customer orders in the marketplace, so it does cause the spreads to vary. However if you watch a few of the pairs , it is generally easy to see what the biggest liquidity supplier's spread is about the pair.

    By way of example, someone above with this thread noted a common 1.9 pip GBPUSD disperse. Yes, it does appear that one of our providers typically maintains a 1.9 pip spread which frequently ends up being our total disperse unless another bank cuts under their ask or over their bid or another customer order slips between. What this should tell you is our MAXIMUM likely spread with good liquidity is 1.9 pips. We do not think that is a bad number whatsoever about the GBPUSD. And it is a big provider. But from time to time, the spread is well under a pip. Now, you may get a broker that regularly shows 1.5 or 1.2, but it isn't important if you can't commonly get filled when you would like to. And based on what we see from a variety of the biggest liquidity providers on the planet, I will tell you that you're not likely to find a top quality provider with a lot of liquidity using a spread tighter than that.

    One of the great tricks in Forex is that folks want to try to measure spreads then spreads and commissions and develop with”this really is the best broker because this is the cheapest net price when you include commission and spread.” Of course, none of that accounts for whether you can get filled. Perhaps it doesn't matter much to someone trading a few minis who will always get full, but believe me, why most of our bigger customers use us is since they are complied and completely comprehend the actually execution process and that there is a limit to what the market can provide. If we wanted to, then we could easily demone a 0.1 pip spread on what but then when you go to buy, you get your first mini at that price and the remainder a pip or two greater. Unexpectedly, we'd have the tightest spreads in the business, but to some big trader, we'd be a joke. So the reality is that it isn't about what you see from spreads. Our system is intended to present good liquidity from several providers using a high-speed routing platform which gets your orders on the market and executed in the best manner possible.

  8. #18
    Is not it refreshing to really get good information from somebody who knows their company...

  9. #19
    MB trading, I really would like to trade with you guys but in case you had higher leverage or at least hedging it would be excellent. Any plans to open almost any office outside USA?

  10. #20
    Quote Originally Posted by ;
    Is mbt really an ECN?
    Yes.

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