T2W Trading Community

0 of 1 members found the following review helpful:

UK not covered
1/10
Not for UK residents !

MBT
10/10
low cost direct access for those that like to think for themselves. I am happy with them

2 of 3 members found the following review helpful:

Fast!
10/10
Fast execution, wire funds in and out of the account in 20 minutes, good trading platform! Real top notch company and I've used MANY!!! They are the best!

6 of 7 members found the following review helpful:

Good software, very difficult application procedure for UK residents
9/10
After deciding to trade the American markets, I tried out a number of software platforms and found MBtrading's to be the easiest for a beginner and best to use.
I was unable to open an Interactive Brokers account as I had no trading experience, and didn't like any other brokers software.

The problem was that MBtrading have a huge list of countries which they deal with from China,Ghana,Russia,Niue??,Seychelles, Israel,Lebanon and Vanauta?? but for some reason not the UK. To open a UK account you need to be a member of the FSA. Which I looked into and seemed to include a very select membership of Professional Financial advisors.
When I applied though it was hinted that if I had an address in one of these countries I could open an account. At the time I didn't have a foreign address which I could use, so ended up forming an offshore company in the Seychelles using Fidelity Corporate Services who are based there. They provided a highly recommended service and I ended up paying around £400 to form and register a new company. Using this company I then opened an account with MBTrading which was reasonably straightforward, although was rather confusing regards to the US tax laws.
I have not yet used the telephone ordering service but have used the direct chat feature which was of a good quality. My direct contact with staff has been favourable and a pleasant experience.
As a beginner not knowing other software, I would say the software is excellent with good level 2 data. My orders are fullfilled smoothly and quickly by the smart router system, and it is easy for me to set up watchlists, and switch from one screen to another.
The order entry screen is clear and easy to follow and well laid out.
Anyone who wishes to try out the software can download and do so for free with a practice trading account.
If you then wish to open an account and are a UK resident, I would say that the result is worth the annoyance of the difficult procedure, particularly if you wish to be daytrading and want a simple and easy to understand interface at your fingertips. If you aren't and wish a to try out an excellent platform, then try downloading the software and see what you think.......