Thread: Broker Complaints …Get over it!

Something to add to MBT's topic lt connection. I did a bit of exactly what they are about and google-work about 4xME. Here's a link with various information about them:

http://www.puddletown.com/forex/4xme/

Particularly interesting is the San Fran Guarding article. Highlights inlcude one guy being sued by the U.S. government in 2001 for using deceptive sales strategies to defraud 60,000 customers of $15.2 million, only for example.

Or look at the other guys NFA record:

http://www.nfa.futures.org/basicnet/...06contrib=CFTC

I dont understand why MBT has an affiliation with such clear conartists and scumbags with such a history.

Originally Posted by ;

Here are the facts buddy. MB Trading, number one reveals it is quantity in lots not countless like the major ECNs do. Second reality All the ECNs I mentioned with the exception of HotSpot Aren't clearing firms, they are only platforms. The liquidity you recieve depends on the Prime Broker you work with and their connections with different banks. If you aren't only confused and mistaking mini lots for centuries afterward the only reason you'd have less liquidity on one of these platforms is because you work with a retail firm who offers you access to your prime broker sucks. The liquidity and spreads will vary from broker to broker, if you'd like a good one then let me know. I'll put you up with Cantor Fitzgerald and Currenex for a mere $10,000 if you want, or Hotspot for a bit more. If your happy taking the money of this Forex Made Sleazy sufferers at MB that is fine too. It is a good place to trade miniature lots now seemingly because the 4x made easy owners are educated to trade them by GlobalTec. If the other man is still confused I do not own any clearing firm, I trade and handle money at good ones.

I am sorry, however this isn't a conversation that I should engage in as you clearly do not even understand this platform. There have been a number of times where the offer reveals 1000 lots (yes, minis) and now I have gone to buy 5000 and gotten packed. Seriously, I do not know where to begin with this dialog since you just don't know. If you assume that somehow ALL of the liquidity that can be found on the EFX/MBTF system is exactly what you see in the Grade 2, you haven't even scraped the surface. Cantor Fitzgerald? Seriously? That isn't a conversation. Currenex? Does not EVERYONE include Currenex anymore? And the truth is that the Forex Made Cheesy folks aren't encouraged to use any size. I have seen somebody trading on their software in 1000 minis each transaction, which is great when they are selling and I'm buying.

Originally Posted by ;

Is 30 to 60 mil. On the best bid/offer to get eur/usd that bad? I am sure some institutional platforms will provide more, but it doesnt look astrophic for me. I also highly doubt that the ForexMadeEasy followers provide a large part of that sum, or that they have much effect whatsoever on platform liquidity. If you look at the level2 book, then the 5(or so) topmost entries are nearly always on around million amounts. I deduct from that, that those bids/offers are quoted by engaging banks/institutions, because the typical mb-client (including 4xMadeEasy-dudes) likely trades considerably smaller.

Are you saying Cantor requires $10k accounts? Or is that some type of IB/referal setup via your firm?

Really, the reality is that the Level 2 doesn't even show all of the size available. The individual banks in the system that produce the Level two are actually good for much longer than they reveal typically. They just don't reveal their entire size as you will never know when news comes out in Forex.

Originally Posted by ;

Just something to add to the topic of MBT lt; 4xMadeEasy connection. I simply did a bit of google-work about 4xME and exactly what they're about. Here's a link with various information about them:

http://www.puddletown.com/forex/4xme/

Especially interesting is the San Fran Guarding article. Highlights inlcude one man being sued by the U.S. government in 2001 for using deceptive sales techniques to defraud 60,000 clients of $15.2 million, just for instance.

Or look at the other men NFA listing:

http://www.nfa.futures.org/basicnet/...06contrib=CFTC

I dont understand why MBT has an affiliation with such obvious conartists and scumbags with such history.

Yup. Now, do me a favor. Google Citibank, JP Morgan, and Smith Barney and their management. Verify the filings against them together with the NASD and SEC (you do not have to read the countless pages). Now this is my question. Ever purchased a stock for trading or ownership purposes? Do you care whether the man selling it to you was an idiot or a genius? Was he being told to do so by a representative of one of the aforementioned businesses, or someone else, or doing it by itself? It doesn't matter.

Markets are all about liquidity. Smart and dumb men and women are going to buy and sell all the time. If nobody got people interested in forex, the quantity in the market would be reduced, meaning that the spreads could be wider. This is not about companies and their choice to make spreads wider or narrower. You can add up all the scam operations in the world and recognize that none of them actually teach people how to exchange good, but at precisely the same time, if they didn't exist, liquidity would be much lower. Whenever you make a choice to buy or sell, you hope there is a lot of liquidity on the other side of the trade. When you exchange with a deal desk, the more liquidity on the other side is simply THEM. They determine whether to fill you or not. End of story. When you exchange with an ECN, the liquidity on the other side is the MARKET. That means clients buying and selling.

I have to laugh in the logic of these discussions. If folks look back in the shift in the stock market implementation throughout the previous ten decades, they see companies like ISLD and ARCA that were purchased for almost a billion dollars apiece. They accounted for 75 percent of the quantity on the NASDAQ stock market. No one says well, were there people on your system buying and selling on a faulty assumption? Of course there were. The markets are not a 50/50 proposition. About 80% of people lose. No one creating an ECN is stating Hey, we've got traders who only know how to make money trading. That might create a scarcity of vendors while folks need sellers and a scarcity of buyers while folks need buyers. The objective of a true trading platform is to get a lot of people trading in their platform. You do so by finding the companies that attract traders to the market.

What's disappointing to me is to continue to hear people act like they've got an understanding of these markets while indicating they don't want to work with a liquidity provider as deep in liqudity since MBTF due to the traders who MBTF brings to the equation. This is a business that has more banks than any other single platform (including Currenex) as well as more personal customer orders (due to deals like Forex Made Cheesy). And to be clear, I HATE Forex Made Cheesy. No pro trader would ever use it. However, the people who use it add to your own market. To somehow say I only want to exchange in a market where executions are dependent on people who make good decisions, well, that is a dreadfully wrong and incredibly naive approach. There are losers and winners to every trade.

Let us compare both. A deal desk shows a spread of 3 on the EURUSD. That means that every time I buy and sell, 3 pips are squandered if I flip the trade immediately, and 6 pips are squandered if I exchange in and out over time. Great. Now. Let us say that I exchange in an ECN. When I buy, I get a genuine market price based on the top sellers in the market including banks and retail vendors. When I sell, the same goes in reverse. To put it differently, the very best buyer on earth gives me the price that I have to take when I want to sell, and vice versa when I want to buy. That can not be true in any other situation, and the more people that compose the buyers and sellers determines just how good of a price that I will get.

It just doesn't seem perplexing to me. MBTF is similar to ISLD and ARCA for its stock market in the late 90's, and they'll finally be rewarded as such as they're bringing liquidity to the market. How smart the traders are the signal with them doesn't have an impact.

I hate to wake up emptiness in this thread - as I did with the previous post But this just ended up in my inbox:



I think he really does a pretty good job at simplifying the difference between the two. But again, interesting how MBtrading comes out as the winner...

Its not like Isle and Arca actively collaborate with such sleazebags, whose business model would be to lure naive investors and sell them their $3000 scam software. I mean something next, will mb hire Tony Soprano and the arm-twisters to get fresh newbies to exchange on their platform?

Originally Posted by ;

Is 30 to 60 mil. On the very best bid/offer to get eur/usd that poor? I am sure some institutional platforms will provide much more, but it doesnt look astrophic to me. Additionally, I highly doubt that the ForexMadeEasy followers offer a massive portion of that amount, or they have much effect whatsoever on platform liquidity. If you look at the level2 book, then the 5(or so) topmost entries are almost always on around million amounts. I deduct from that, that people bids/offers are quoted by participating banks/institutions, since the normal mb-client (such as 4xMadeEasy-dudes) probably transactions much smaller.

Are you saying Cantor requires $10k accounts? Or is that some sort of IB/referal setup via your firm?

It is a unique deal that I have set up with a pal of mine who runs a futures firm. As a result of his relations we could get you setup for those tiny quantities. We also plan to integrate the MetaTrader program with the price feed and add a companion into the Metatrader to make it better, particularly for news traders. Plus we have lower commissions than MB trading does since this is a real institutional platform. Personal message me if you are interested.

[quote=fxchant;1572669 What's disappointing to me is to continue to listen to people act as they have an understanding of those markets while indicating they don't wish to work with a liquidity provider as deep in liqudity as MBTF due to the traders that MBTF brings to the equation. This is a business that has more banks than any other single platform [/quote]

As much time because this guy spends writing books to shield MB and make excellent claims like making me wonder whether he's an IB for them as well. Just to be certain the rest of you know the truth, every ECN has orders you will not see and market makers willing to take a large order if you put this up there. So far as MB having the banks in the platform, he can not prove that statement and I know for a fact it isn't the case anyways. Just FYI everybody Cantor is the company which offers the market with it information, it is sold by them . It's called Cantor Data check it out sometime in the event that you'd like.

Yes, I do believe that felix is an IB for MBtrading. And I think he provides rebates.

Originally Posted by ;

If a broker screws you day then shame on them. Should you go back shape while expecting different results each day then pity you.

/agreed

Just because you began with one broker doesn't mean that you have to stick with it. That's why Forex tutorials suggest that Forex newbies try many broker's demo before settling on a broker for actual trading.