MB Trading Forex Broker Review 2012 - Overview, Ratings, Likes, Dislikes, Comparison, News
With MB Trading Forex broker you will not only be able to trade currencies, but stocks, options and Futures as well. MBT is one of best rated FX brokers.
MB Trading Forex Review
MB Trading is definitely one of the largest, trustworthy FX brokers, suitable for all types of investors, also institutional clients, since they provide you access to their Electronic Xrossing Network (EXN).
Very Positive - Extremely low trading fees, you can even get paid for providing liquidity to the market. Besides, broker offers you all in one solution, where you can trade other instruments as well: stocks, options, futures. They are also very powerful in tools and third party services providers.
Could do Better - They could probably extend their knowledge base and find a more organized approach to educating clients and also provide more information about Forex trading on their website.
'MB' in MB Trading stands for Manhattan Beach. Founded in the year 1999, this online broker company offers a variety of investment opportunities such as Forex products, options, futures and stocks.
As far as the MB Trading Forex services are concerned, trading with this online broker is different because it does not simply create the spreads and offer them to their customers. It receives quotes from different partners, banks and pools of liquidity and then an aggregate of such quotes in real-time is calculated and offered to the customers. A good thing about MB Trading is that there is no question of being delivered re-quotes or other types of trickery. The marketplace is completely transparent and entirely at your disposal so that you can engage in your investment procedures.
MB Trading Forex is internationally recognized as a low spread leader offering award winning technology to those who are serious about trading in Forex. You will be able to engage in your Forex trading transactions in a non-deal desk environment with this company.
Investments Offered and Basic Conditions
Although MB Trading is very popular for its MB Trading Forex services, this online broker offers other types of investments as well namely futures, options and stocks. Thus, the customers or investors of MB Trading are provided with an array of investment choices. Irrespective of what you choose to trade in, if you want to trade with this broker then you will have to obey certain basic conditions as stated by the company policy.
Types of Accounts
To get started with MB Trading Forex activities, you will need to open an account that is suitable for you. To identify an account which is ideal for your circumstances, you need to have a good knowledge of the different types of Forex accounts offered by the company. The two basic types of accounts are Live trading account and practice or demo account. Apart from individual and joint accounts, the broker offers a variety of other types of accounts such as corporate accounts, LLC accounts, Partnership accounts, accounts for Trusts, Individual Retirement Accounts (IRAs) and sole proprietorship accounts to name a few.
It is important to note that the residents of certain countries are restricted from applying for an MB Trading Forex account. Therefore it is advisable to first go through the list of restricted countries before proceeding any further with this online broker.
Opening an Account
In order to start trading with this brokerage, you will have to go through the process of opening an account. Irrespective of whether you wish to open a live trading account or a practice account, the procedure of opening an account is same and consists of four steps, namely register, activate, login and start trading. If you want to open a demo account then simply check the demo account option, the only other choice being the live trading account. Applicants are required to provide personal details such as name, email address, contact number, postal address, fax number (if any), Skype ID for the company's records.
MB Trading offers eight different types of trading platforms to suit the needs of individual traders or customers. The first software is called MBT Desktop Pro, this award-winning software application is created by MB Trading itself and it includes a useful charting application that features more than a hundred indicators and the option of opening multiple chart windows. Of course, the original software, MBT Desktop is also available if you are interested in it.
Next is the MetaTrader 4, which is a popular and highly recommended non-deal desk platform for Forex traders. As an MB Trading Forex trader, if you want to trade on-the-go then you should get the MBT Mobile software package since it is compatible with all smartphones including iPhone, Android phones and tablets. For those who want a web-based trading platform, the MBT Web should suffice. Apple users should opt for MBT Mac software program. The two remaining software programs offered by MB Trading are MBT WebLite and MBT LightWave.
Trading Tools and Research
Amongst the trading tools and research resources offered by the company, the partner programs offered by MB Trading would fit the bill. The website offers seven different types of trading tools under partner programs and out of these only four can be used by MB Trading Forex traders. The first one is called Currensee which offers the traders access to decision-making network that provides them with unique insights based on the trading activities of such communities. Then there is the TradeGuider and this one offers valuable tips based on the methodologies belonging to two famous traders: Richard Wyckoff and Tom Williams.
The third Forex trading tool offered by the website is called TheFuturesRoom and the last on the list is Wizetrade. While the former is a live virtual trading room which allows individuals to watch, listen and follow the trader of this room, the latter is an investor software program that provides traders with tools and training required to become successful on their own terms.
Like the trading tools and resources, the educational resources for investors of MB Trading are provided by partner programs as well. There are six educational resources under partner programs and only four of them can be used by Forex traders. The first is called Forex Factory and this one is the most active Forex forum in the world. There is a second resource known as FX Addicts and this one is further divided into six educational websites. RatioTrading is the third alternative and this one is an online financial education and trading company. Last to feature on the list of educational resource is called TradeSight and this one provides the traders with trading education, daily trade calls and market analysis in Forex markets.
This broker won the 'Top Broker' award by Barron's in 2011 and it is also recognized by IB Times for 'Best Execution'.
Promotions, Challenges and Bonuses
Although MB Trading hardly offers any sorts of promotion offers or bonuses, the presence of impressive educational resources, cutting edge trading software platforms, low commissions and reliable support make up for it.
What Makes MB Trading Different?
You will notice that MB Trading Forex is quite impressive because of its many unique features. The broker offers a Forex trading technology which is distinct from others, little or no-commission trading opportunities, best seminars and great education content. The fact that this online broker has a lot of awards in its kitty makes it different and superior to its competitors.
Since the online broker offers a variety of investment options therefore there are separate phone numbers and fax numbers for Forex traders and traders engaging in futures, options and equities. Moreover, MB Trading offers Skype support and an online chat support in addition to an email facility meant for retrieving their corporate address.
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Written by: Goran Dolenc