MB Trading ECN Broker and MetaTrader 4

[alan]

Hey guys, checkout this post I recently made:

http://alansforexblog.com/2009/01/12/mb-trading-and-metatrader-4/

As you can tell MB Trading (a popular ECN broker) intend to offer the MetaTrader 4 platform we all know and love.

Pretty neat if you ask me. I can't wait until I can download a demo :)

What do you folks think?

[lorddave]

Oooooh very nice, it will be very interesting to see how FAPTurbo responds to that kind of environment

[lorddave]

Holy crap... those spreads are amazing.... .5 pip on Eur/USD atm, and similar on all FAPT pairs... looking at their spreads page, Spreads can be as low as 1/10 Pip

[alan]

That's right. Of course the spreads vary. I for one will be jumping on their demo as soon as they become available. It should be interesting to see how fapturbo and other EAs trade on their platform.

However fapturbo/forex autopilot (and other EAs of course) would need to be modified to work with their mt4 platform as you cannot open a instant market order with stop loss and take profit all at once.

All that info is mentioned at the bottom of my blog posting. I'm not sure if you bothered to read the whole post as it is absolutely massive lol

[clolab]

That's right. Of course the spreads vary. I for one will be jumping on their demo as soon as they become available. It should be interesting to see how fapturbo and other EAs trade on their platform.

However fapturbo/forex autopilot (and other EAs of course) would need to be modified to work with their mt4 platform as you cannot open a instant market order with stop loss and take profit all at once.

All that info is mentioned at the bottom of my blog posting. I'm not sure if you bothered to read the whole post as it is absolutely massive lol

hm.. so any EA has to be modifyed to work with MT4 on ECN ?

thanks

[JillyB]

That's right. Of course the spreads vary. I for one will be jumping on their demo as soon as they become available. It should be interesting to see how fapturbo and other EAs trade on their platform.

However fapturbo/forex autopilot (and other EAs of course) would need to be modified to work with their mt4 platform as you cannot open a instant market order with stop loss and take profit all at once.

All that info is mentioned at the bottom of my blog posting. I'm not sure if you bothered to read the whole post as it is absolutely massive lol

Alan can you let us know when the demo becomes available.

ATC are another ECN that is going to be offering MT4 platform. I have their demo at the moment and they are supposed to be going live at the end of the month. I have checked with them regarding the spreads/data feed for the demo account and they have assured me that it is exactly the same as we will get for the live accounts. So far FAPTurbo has been working ok on it - not quite as many trades as the other accounts, but still profitable.

[alan]

hm.. so any EA has to be modifyed to work with MT4 on ECN ?

thanks

Well, not all of them. Scripts that use Instant Executions to place market orders with take profit and/or stop losses attached will not work. Instead, a market execution must be placed and then a take profit and/or stop loss added to the position.

Also, hard coding of +/- calculation of pips for profits may need to be adjusted to reflect the fifth decimal place of MB Trading's ECN. (ie they're a "5 digit broker")

[alan]

Alan can you let us know when the demo becomes available.

ATC are another ECN that is going to be offering MT4 platform. I have their demo at the moment and they are supposed to be going live at the end of the month. I have checked with them regarding the spreads/data feed for the demo account and they have assured me that it is exactly the same as we will get for the live accounts. So far FAPTurbo has been working ok on it - not quite as many trades as the other accounts, but still profitable.

Definitely will let you know. Drop by once in a while by my forex blog as that will be the first place where I will announce demo account availability.

I intend to look into ATC brokers too. Just out of curiosity do you know if they have the same limitations as MB Trading's mt4 implementation. I would presume they do as they're also working with an ECN price feed/environment (their prime broker is HotSpotFX btw).

[Rob]

Hey guys, checkout this post I recently made:

http://alansforexblog.com/2009/01/12/mb-trading-and-metatrader-4/

As you can tell MB Trading (a popular ECN broker) intend to offer the MetaTrader 4 platform we all know and love.

Pretty neat if you ask me. I can't wait until I can download a demo :)

What do you folks think?

I Alan,

I'm not sure:( if canadian citizen can open an account with MBTrading.
check it out! I'm your fellow citizen my friend.


Rob

[dcrowley06]

I thought the way that FAPTurbo worked was that it opened the trade first without S/L and T/P. Then after the trade was opened it modified the order. At least that is what I thought the "Stealth" mode setting was doing. Maybe I am wrong though.

[JillyB]

Definitely will let you know. Drop by once in a while by my forex blog as that will be the first place where I will announce demo account availability.

I intend to look into ATC brokers too. Just out of curiosity do you know if they have the same limitations as MB Trading's mt4 implementation. I would presume they do as they're also working with an ECN price feed/environment (their prime broker is HotSpotFX btw).

Not sure what you mean Alan with regard to 'limitations to MT4 implementation'. The platform I have on demo is working just the same as any other MT4 they have variable spreads and charge commission just as any other ECN broker, but their spreads are not that different to the other brokers we use such as FXPro or Alpari.

Try the demo account - Vince Pham is the chap I've been dealing with there, he's very helpful. You can reach him at support@atcbrokers.com.

[alan]

I Alan,

I'm not sure:( if canadian citizen can open an account with MBTrading.
check it out! I'm your fellow citizen my friend.


Rob

Yeah Rob, unfortunately MB Trading at the moment can only accept Canadian clients that are domiciled in the province of Ontario.

I sent them an e-mail asking why this is the case. Seems kind of weird and I don't understand why only in Ontario. I heard of residents of British Columbia not being able to open trading accounts with certain brokers but not nearly all other provinces except Ontario as is the case with MB Trading.

[alan]

Not sure what you mean Alan with regard to 'limitations to MT4 implementation'. The platform I have on demo is working just the same as any other MT4 they have variable spreads and charge commission just as any other ECN broker, but their spreads are not that different to the other brokers we use such as FXPro or Alpari.

Try the demo account - Vince Pham is the chap I've been dealing with there, he's very helpful. You can reach him at support@atcbrokers.com.

I was referring to certain technical items. It's ok, I'll open a demo account and find out for myself. Thanks Jilly :)

[alan]

I thought the way that FAPTurbo worked was that it opened the trade first without S/L and T/P. Then after the trade was opened it modified the order. At least that is what I thought the "Stealth" mode setting was doing. Maybe I am wrong though.

No the stealth feature is designed to hide the real take profit and stop loss from the broker. Actually forex autopilot and fapturbo both work the way you described. It first opens a market order and then I think a few seconds later it adds the take profit and stop loss to the order.

[Harre]

Alan, any idea if MB has gone live with their MT4 platform yet?

[edwardBe]

Also, hard coding of +/- calculation of pips for profits may need to be adjusted to reflect the fifth decimal place of MB Trading's ECN. (ie they're a "5 digit broker")

See attachments. Their MBT Navigator shows six digits in the FX Board and four to five in the Market Depth window where you place your manual orders.

[seabee40]

Chatted live with MB Trading today. They don't plan on going live for at least 6 weeks. still in beta testing.

[edwardBe]

Chatted live with MB Trading today. They don't plan on going live for at least 6 weeks. still in beta testing.

Live demos or live accounts in six weeks?

[seabee40]

You can get a demo now, live acct. in at least 6 weeks.

[edwardBe]

You can get a demo now, live acct. in at least 6 weeks.

How? I don't find a submit button at the bottom of the form on the URL that Alan shows on his blog.

[seabee40]

Go to MB Trading home page, click support, click contact and live help comes up. Ask for a demo account for the MT4 platform and they will email you login, password and instructions for download.

[edwardBe]

Go to MB Trading home page, click support, click contact and live help comes up. Ask for a demo account for the MT4 platform and they will email you login, password and instructions for download.

Got it! Thanks!:)

[edwardBe]

Platform is at: https://www.mbtrading.com/metaTrader4Download.aspx. You may or may not be able to open an account from inside MT4 as with other brokers. If not use the instructions from seabee40 above.

[alan]

Alan, any idea if MB has gone live with their MT4 platform yet?

Not yet. Either me or someone here on the forum will let you know though.

[edwardBe]

They seem to be accepting live accounts with a minimum balance of $400:

http://www.mbtrading.com/metaTrader4FAQ.aspx

Nope, the link to open an account is not functional, produces a server error. Oh well...