Very Happy Customer
After almost 12 months of trading with MB Trading and a few test accounts at other brokers, I have finally settled on MB. My experience has been good….not great, but I don’t think there is a great broker out there. So in hopes of saving others some time, here are my comments, pros and cons about MB Trading and why I ultimately chose them as my everyday broker for Forex.
I’ll start with comments:
• I don’t want to list the MBT Navigator under cons, because in the end I find it to be a wonderful platform, but the learning process certainly takes a little patience. This platform is not like others that brokers offer, it’s fully customizable and offers quite a bit of flexibility, plus integrates with a multiple third party systems I currently use. Overall, if you give the Navigator a chance, I think you’ll come to appreciate its unique design, especially if you trade a lot.
• Order Types – great choice of order types, but I don’t think they offer anything to special, so I won’t be listing this as a pro or con.
Pros:
• Customer Support – they certainly don’t fail here. I’ve never had an issue in this area…from the moment I opened my account to a few trades I’ve questioned, I always seemed to get a polite and genuinely helpful rep to assist me.
• Spreads - I have to assume this is a known benefit of trading with MB, but if not let me remind you. The spreads have been fantastic, especially during the hours of London and US markets times. I typically only trade two or three of the majors, but even looking at some of the non-USD based pairs, the spreads look tight and attractive to trade.
• Execution – for the most part, it’s always been on point. I’ve had the occasionally slippage or trade fill I had to question, but for the amount of trades I run, I’ve been very pleased with the performance.
• ECN – I personally feel this is one if not the only true active ECN in the forex marketplace at this time. The ability to place limit orders between the spread has been wonderful and a nice addition to my trading style.
• Reliability – not an issue, platform is up all the time with the exception of maintenance and one or two down times that I can recall in the past 12 months due to technical issues.
Cons:
• Charting or lack thereof – this is not such a big deal to me, only because I’m an eSignal user, but I wanted to cancel my eSignal charts I would have to find another solution as I don’t think MB’s charts are up to snuff. Granted…I have seen some improvements recently and word from the reps is that they will continue to keep improving and add features to their charts, but the proof is in the pudding for me.
• Commission – at $5.00 per 100,000 traded, this certainly isn’t the cheapest, but due to my volume I’ve negotiated a lower rate and am quite pleased with my rate and tight spread combination.
• MT4 - I've been waiting to join the beta now for a long time, but I've been told it should very soon now.
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