Independent rating of Forex broker MB Trading
Broker ceased to exist
8/10 (votes 100)
|
On-line since
1999
|
|
Country of origin
USA
|
|
Regulation
FINRA, NFA, SIPC
|
|
Payment options
bank transfers
|
|
Minimum account size
$500
|
|
Minimum lot size
0.1 lots
|
|
Leverage
-
|
|
Spreads
1.8 pips on EUR/USD
|
Not so long ago MB Trading was bought by Ally Invest. Despite an ongoing work of the two companies to combine their products and services, customers can open an account and trade.
Ally Invest is a member of FINRA, NFA, SIPC.
Trading conditions
The broker offers trading in currencies via Ally Invest on the MetaTrader4 platform, which is one of the most reliable ones in the world.
If you want to trade in forex markets through Ally Invest, you need to deposit a minimum amount of $1.
To trade stocks, futures or options, you need to deposit at least $500.
On average, the main currency pairs’ spreads vary from 1 to 2 pips.
Accounts
According to the website information, a customer can open Individual, Corporate, Partnership, Trust, and IRA accounts. However, changes are expected in the near future, which, perhaps, will affect the classification of trading accounts.
Commissions
MB Trading offers various commissions on stocks, options and futures trading.
Stocks are traded at $4.95 per contract.
Commissions on futures trading are $0.85 per contract if you trade less than 250 contracts for a month; $0.65 per contract if you trade 251-2,000 contracts per month, and $0.45 if you are an active customer trading more than 2,000 contracts a month.
Options are traded at $0.65 per contract and plus $4.95.
There are no fees for registration or inaction, although some fees apply to the transfer and closure of IRA accounts.
Trading platforms
MB Trading offers a wide range of different platforms and their mobile versions.
NinjaTrader provides clients with tools for analyzing markets and trade ideas through the Advanced Trade Management (ATM) system. This makes trading more user-friendly.
The next offer is MB Trading's Desktop Pro. The platform contains more than 100 built-in indicators, an alert system that tracks price movement based on one hundred parameters, and an application for making charts. You can open several windows at the same time. The mobile application contains all full version tools.
Account management is simple, and streaming quotes and integrated charts are especially useful for obtaining up-to-date information before submitting an order.
The client can also trade on the MBT LightWave Trading Platform. According to the website, there is an entire network of MBT World, which unites traders, and you can get access to it through the trading platform. The program can automatically scan thousands of shares and options to find exactly those ones that match your trading needs.
Customer service
You can contact the customer service via phone, chat or email. Before the companies merged, a live chat was available on the MB Trading website and there was even a Skype option for those traders who used the VOIP service. It was much easier to contact the agent but, unfortunately, now these options do not exist. The support service consists of three departments: assistance in trading in stocks and options, futures, and in currency trading. Thanks to this structuring, the waiting time is significantly reduced.
The support service is available around the clock seven days a week, except for the forex department, which operates 24 hours from Monday to Friday.
Features
There are no training materials on the MB Trading website, but on Ally Invest you will find a lot of useful articles, including technical and fundamental analysis and glossary.
Deposits/Withdrawals
You can deposit and withdraw your funds only by bank transfer.
Comments
Positive
Negative
All
Author:
Arata
Date:
2016-09-30 09:52:18
(UTC+3)
I have been with MB trading for 4 months. They are excellent so far. This is the third company I have traded with and by far the best. I have only been with ECN type companies because I don’t trust the market makers. Their spreads are the best part and I really don’t understand the previous posters comments about spreads being good only at low movement times. I find them be excellent at all times. I get to place orders between the spreads too and I get filled all the time. I have had a small handful of times where fills took over 5 seconds but just about every fill takes less than one second. I would estimate I have done 500 trades so far in total. The speed is excellent in all. Rollover rates used to be my only complaint. When I first started, they were a bit high however I noticed they have dramitcally come down about two months ago and are right in line with others that I used to use. I would like to think that my complaining to them had something to do with it but its probably just coincidence. I can say with all confidence that this is the best broker out there. That is my experience at least.
Author:
Robb
Date:
2016-09-07 06:17:00
(UTC+3)
Their spread is wide. Minimum of 1 pip up to 4 on the majors on average. Very slow withdrawal processed, It has now been 3 days since my wire request and they have not even started processing it.
Author:
fxtribuanatunggadewi
Date:
2016-08-24 01:51:30
(UTC+3)
MB Trading is broker who didn't prepare everything well, this broker wasn't equipped with features that support for trading in the technology era like today. I couldn't trade anywhere by using my smart phone because their feature in smartphone was very bad, their connection is slow and makes me always fail when trading using a smart phone, I should always bring a laptop everywhere I go in order to keep watching the market anytime, very inefficient.
Author:
narKi Vhi
Date:
2016-08-10 03:25:39
(UTC+3)
Some of the trading tools were not available during news time. I was very disappointed yesterday when I tried to set SL and the button didn't function! I nearly lost all my deposits!
Author:
Filial
Date:
2016-07-20 16:07:59
(UTC+3)
This broker requires a high minimum deposit to start trading. I could gather it and tried to trade but trading conditions are not suitable for generating earnings in a short time of period. Trading term is unstable and execution of deals is not instant.
Author:
Joe_fx
Date:
2016-07-06 22:01:09
(UTC+3)
Spreads for commoditties are very high, also think that first deposit is kind of high, it should be lower so we could diversify more in investments. Alos their platyform is instable.
Author:
Ghimire
Date:
2016-06-23 04:49:51
(UTC+3)
I really like to trade with MB Trading because of multi-lingual support provided. It’s nice to be able to converse with the support people in my mother tongue. Being able to talk in my own language makes so much easier to convey to the support team what my problem is.
Author:
Pombo
Date:
2016-06-14 07:31:05
(UTC+3)
I stop trading with this broker and I think you should do this because their system was not great as they said to me before. There were many re-quote during trading time that led my trades failed and delayed.
Author:
Senol_Altuntas
Date:
2016-06-12 04:39:14
(UTC+3)
I don't like MB Trading because of their unstable trading platform. Lots of requotes and platform crashing. They are hard to communicate with, If you try to withdraw funds, they hold it for 3-4 weeks. There is no way to recommend this broker.
Author:
Luis_fx
Date:
2016-06-09 22:18:23
(UTC+3)
This broker has floating spreads, deposit process fast and good support.
