Do you have any input on which plan is better - the free EXN plan or pay per limits plan? Has anyone used both and noticed a significant savings with one? Please share your thoughts and it's much appreciated.
MB trading looks great in terms of spreads and costs. I think it is better than quite a few, unfortunately, it's not as good as it looks. I prefer to trade with Interactive Brokers.
When I traded with MBTrading, there were too many downtimes, and the downtimes were highly inconvenient. For 3 days in a row the entire platform went down from around 1pm until shortly after 3pm. If you're trading forex, you'll realise this is a key time in terms of announcements. it wasn't just that week, as this re-occurred again weeks later. It's too much.
Also, while conceptually it's nice to paid for limits, in practice, you're often losing out by doing it. I don't want to get too into this point, but forex is not futures, and getting filled on the bid and ask is not what typically happens.
I use DeskTop for order entry and management and chart using NinjaTrader. I have traded with them everyday since January of 2009, and have not experienced any outages that were more frequent or lasted longer than I would expect given the time span. Entire exchanges have outages from time to time... The Liffe exchange had an outage just this past Friday, for example.
I collect and store tick data from MB Trading 24 hours a day, 5 1/2 trading days a week and have since January of 2009. I have alarms set in the computer program to wake me up if there are technology issues...either on my end or MB's. I am accutely aware of service disruptions on MB's part or my own ISP's...
Yes, there have been a few outages during that entire time span. I never claimed there were not, I simply said none that were longer or more frequent than one would expect.
One has to accept the fact that internet connectivity and electronic trading carry with it the inevitable service disruption.....
Entire exchanges go down from time to time, because there is no such thing yet on this planet as 100% up time.
The entire Liffe exchange just recently went down, for example,
NYSE Euronext technology woes mount
Just now as I write this the Thomson Reuters Matching Service has come back online after an outage.
Thomson Reuters FX Trading Platform Suffers Outage
Such disruptions are a fact of life and unavoidable where ever you go.
When such an outage occurs one simply manages any positions you have on via telephone, which is always available.
I don't post this to argue, and will not respond farther. The only purpose of this post is to inform anyone who may come across the discussion in the future. This is my opinion, others may disagree. The reader can take it as one opinion and weigh it with the many others he/she will hear.
how frequent is the downtime in Desktop and Ninjatrader compared to MT4?I collect and store tick data from MB Trading 24 hours a day, 5 1/2 trading days a week and have since January of 2009. I have alarms set in the computer program to wake me up if there are technology issues...either on my end or MB's. I am accutely aware of service disruptions on MB's part or my own ISP's...
how frequent is the downtime in Desktop and Ninjatrader compared to MT4?
would you not recommend MT4 even for charting purposes?
Thank you all for your insightful responses and resources. I was comfortable with using MT4 and didn't even have too many complaints, but after reading your responses I switched to MBT DeskTop Pro and it's such an improvement! I've stuck with the FREE EXN plan instead of the Pay for Limits as it's more suitable for my trading style.
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