Forex broker advice from experienced trader
|August 20th, 2013, 12:20 PM||#11 (permalink)|
west palm beach florida usa
Futures Experience: Advanced
Platform: ninja trader
Broker/Data: Optimus Futures/ Rithmic
Favorite Futures: Cl, TF
Posts: 696 since Oct 2011
Thanks: 611 given, 2,316 received
I was with MB Trading for about 3 years (I stopped using them about 2 1/2 years ago ). Their spreads and commissions were ok, but I had several problems with order execution. I would enter the euro/usd sometimes, and this wasn't even when it was a volatile moment, with a market order. The order would often show up as pending and would just hang there..sometimes for over 30 seconds to a minute...and it wouldn't let me cancel either. This caused me to have some terrible fills. Once i was in a trade for close to 5 lots and it started to go against me. No matter how many times I tried to exit the trade, the order kept rejecting. I had plenty of margin, so it wasn't any fault of mine. I found myself down close to 100 ticks and I frantically called their trade desk. They said some servers were out or something. Finally i got out, but had a huge loss. I tried to get them to reimburse me, but they refused. They only waived my commission on that one disasterous trade.
Again, this was a couple of years ago and it may have never happened again to anyone. But between the bad fills and that big loss because of their technical issue, I decided to stop using them. I'm not badmouthing them..just sharing my experience.
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