MB Trading

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Hi everyone, I am trying to get the MBNavigator software work with any charting software (free or free trial) and see if I can map out Elder's triple screen indicators. For starters, I tried Quotetracker and was not successful.

Could anyone point me to some resources to overcome this hurdle? Also, are there any other screens/indicators that are recommended (for swing trading primarily)?

Thanks in advance,
--SS

shopsmart said: Hi everyone, I am trying to get the MBNavigator software work with any charting software (free or free trial) and see if I can map out Elder's triple screen indicators. For starters, I tried Quotetracker and was not successful.
I would have recommended QT with MBT's data feed - what problem did you have? The only problem with using MBT's feed is that there is no historical or backfill capability, for that I use eSignal (not free obviously).

another pro over ib: interest on cash that is not under 10k

http://mbtrading.com/intRates.asp

http://www.interactivebrokers.com/en/accounts/fees/interest.php?ib_entity=llc#interest

Evaluate your needs. MB's 8.45% margin interest is almost 2% over IB which didn't make sense for me.

mbTrading is so cheap, to set up ACH they do 2 small deposits into your account. One day later they take their deposits back (total of $0.37)

xpguy said: mbTrading is so cheap, to set up ACH they do 2 small deposits into your account. One day later they take their deposits back (total of $0.37)
Your point? I would rather have them be cheap and not give me $.37 and keep their commissions free?


Point is I've never had a bank or brokerage take back their small penny deposit verifications before.
It's more likely just a warning to people who have money market accounts who are only limited to 6 "withdrawals" per billing cycle.
Since taking back their $0.37 in 2 transactions, I probably only have 4 more allowed withdrawals this month.
I'm sure they would cost me $20 total as a penalty from my bank had I used all 6 withdrawals already this month and then MBTrading decided to
put 2 more withdrawals on my account.

I don't know what you're talking about commissions being free? Maybe I've just been an idiot all this time and have been paying commissions to them unnecessarily?

TDAmeritrade is the same. They'll take back their pennies.

IB will make one deposit and one withdrawal at the same time for verification and will let you keep the difference (usually 10 cents.)

Firstrade will make you fax your copy of check before they'll do anything about it.

Scottrade... do they even have electronic money transfer anymore?




But the point I want to make is that it doesn't matter which broker you use. If you don't trade often, any broker will do. If you are market timer and day trader, the thing that matter the most is getting your order filled. From all my trades, IB seems to be the fastest. If the stock doesn't move much, IB is of no use. If you trade something more volitile like AAPL or GOOG, then IB fill is very important. Paying less commission per trade won't do you good. The important matter is that you get the fill.

Try to short stock with Firstrade, they take more than 30 seconds for the fill (watiting for them to approve the transaction.) That sucks major. So can't do daytrade with Firstrade even if they guarantee fast fill.

Scottrade is similar.

TDAmeritrade has decent fill speed but that web interface is just too slow. Using QT maybe a better alternavtive.

IB has the best fill speed anywhere. But you don't want to trade $4 stock on it. When you buy 50K shares, the commission is very expensive.

So if you are professional or a daytrader or you trade GOOG, IB is the best choice.

If you trade large shares of $2 - $8 stocks, TDAmeritrade sound good. They have good fill speed but not as fast as IB.

MB is a little slower on the fill, and cater to those who trades lower than 4000 shares at one time. (1 cents a share per order is more expensive than IB, and 1 cents per share above 4000 shares is more expensive than TDAmeritrade when you buy 50K of JDSU at one time.)

Also, IB pays that ridiculous "SEC Section 31 Fee" for you so you don't have to pay. I think everybody else pass down that fee to you.

holy cow! did they kill enough trees to allow us to open an account? i hope all the work is worth the effort.

happytommy said: But the point I want to make is that it doesn't matter which broker you use. If you don't trade often, any broker will do. If you are market timer and day trader, the thing that matter the most is getting your order filled. From all my trades, IB seems to be the fastest. If the stock doesn't move much, IB is of no use. If you trade something more volitile like AAPL or GOOG, then IB fill is very important. Paying less commission per trade won't do you good. The important matter is that you get the fill.Very good point.

MB is a little slower on the fill, and cater to those who trades lower than 4000 shares at one time. (1 cents a share per order is more expensive than IB, and 1 cents per share above 4000 shares is more expensive than TDAmeritrade when you buy 50K of JDSU at one time.)happytommy, do you have an MBT account? The reason I ask is that I've been in a trading room with a mix of MB & IB folks and have found that on average us MBT's fills are just as good IB's (these were primarily fast-moving nasdaq stocks). Just wondering where you got your impression that IB is faster from. I'm thinking of opening up an IB IRA account just to see what I'm missing.

Also, IB pays that ridiculous "SEC Section 31 Fee" for you so you don't have to pay. I think everybody else pass down that fee to you.This is another very good point. Those fees can really add up on some trades. MBT does pass them along while IB eats them, depending on what you trade this can be quite a difference.

i dont know if these people are "good" but i just opened an account - nothing i see instill confidence in me:

1. application process - slow, cumbersome, and kills a lot of trees... as a result, prone to errors and many iterations of communication.

2. when doing ACH, there is no history of success/fail if you schedule an immediate pull - you can mistakenly pull it twice thinking the first time it was in error.

3. "Currently under construction. We apologize for the inconvenience." - this is to get to account management. wtf? it worked last week.. granted it is 10pm EST... this kind of behavior is unacceptable from a financial institution.

[edit 1 day later: i cant see anything in my account. called up and was told it was a "programming error". what happened to testing on development? what happened to immediate rollback? over 12 hours of 'problem' is unacceptable]



4. constant changes without user notification of account fees and plans

I just opened up an account with them as well last week. I'm only waiting for the ACAT from TD Ameritrade to go through and for the futures part of the account to be approved. I'm leaving TD Ameritrade as a former TD Waterhouse customer since everything is going downhill now that they've been taken over.

I don't see anything do wouldn't instill confidence with MB Trading. They've kept me up to date on all the steps in the application and account opening process by e-mail (from a real live person), and I've emailed on quite a few occasions with the CEO of the company - real nice & helpful guy who tries to get problems solved immediately.

whats the ceo's email address? id like to let him know what is happening. almost regretful i left ib (2nd time)... i would go back to them a third time if this keeps happening.

Anyone used the Plan C with MBTR routing? and How frequently did you use?

How good is the execution/fill with MBTR (assuming not seeking any price improvement) for about 2000-4000 shares compared to MBTX?

Please chip in with you experiences

Thanks

tylr said: In a related thread, DYS suggested that someone currently using MBT starts a thread on it. I have about a year experience with MBT and am happy with it.
MB Trading
Pros:
- Low trading fees $1 min charge per stock trade (market, limit and others - no extra for non-market orders)
- Low min. investment $2000 to open an account
- No min. monthly fee (ie. $10 for IB)
- No fee for modified or cancelled trades
Cons:
- Software-based not browser based interface. This feature may pose a challenge for those who trade at work and have restriction on external software installed on their workstations.
- Deposits can be by ACH or DCT/ACAT from checking accounts although withdrawals only can be made via wire transfers or checks in the mail

Related Threads:

IB Thread
Best online brokers for active trades thread
Firstrade vs. ScotTrade vs. Others

For those trying to decide between MBT and IB or are seriously considering one of them vs. others, there is a very good thread/document by a poster at Motley Fools Discussion Forum that goes into a detailed comparison of the two brokers. If you don't have membership and don't want to join, just use or create a throwaway mailbox to sign up for the 30 day free trial. IMO, it would be worth the extra effort.

Freetrade Alternatives - Part 2
Freetrade Alternatives - Part 1


So, how good is this today? What's new for July 2006?

vodkaSpy

I switched last month to MB Trading, and I can't complain. Although the process to open the account took a little longer that I would have hoped, everything has been great since. The platform is great, the fills are good on equities (great on futures). I've called customer service several times and they always pick up within a few rings and have always been able to help me out. Everything posted above is still accurate.

The only downfall in my opinion is that you can't use the software with a proxy server, so for those of us at work behind a proxy, its tough luck.

vodka said: tylr said:

So, how good is this today? What's new for July 2006?

vodkaSpy


I have been with them for 6 months and am very satisfied. Customer service is just call away, no need to wait on phone. I prefer to use their chat which is equally fast and they are very friendly. The order execution is flawless and fills are generally very good on mbtx route. Overall I surely recommend them.

Anyone who has experience with MBTR route please let me know how good are your fills? thanks

Does MB Trading do a hard pull on my credit report for new accounts? I didn't see this question answered anywhere in this thread.

youngcoolguy said: Does MB Trading do a hard pull on my credit report for new accounts? I didn't see this question answered anywhere in this thread.

No hard pull when I applied.

jpsmoney said: youngcoolguy said: Does MB Trading do a hard pull on my credit report for new accounts? I didn't see this question answered anywhere in this thread.

No hard pull when I applied.


Thanks -- just wanted to be sure.

they gave me $10 credit for my birthday.
So cool!!

I got $10 for my birthday too.



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