MB Trading - Stocks, Options, Futures, Forex, Online, Discount Trading - Simple and Powerful
MB Trading is a direct access brokerage firm that develops and markets sophisticated yet simple direct access trading technology to online traders.
MB Trading Brokerage Review
MB Trading is an outstanding online brokerage company that is perfect for experienced and frequent traders. When you choose MBT, you can expect fast and quality services along with variety. You can trade in limit and market trades for just $4.95 and if you want to trade options or futures contracts, then you have to pay only 95 cents for every contract. MBT also gives you the freedom of choosing the commission options, as per your trading style.
MBT is fairly easy to use so the fact that there isn't any extensive education offered by it is not going to make much of a difference. At present, there is a wiki, forum and few webinars for the investors but these are quite barren. The good thing is that these webinars take place regularly according to its schedule.
MB Trading offers really good software for mobiles for those interested in trading on the go. These mobile services are exceptionally good and it is sure to impress you with its slick features and impressive speed. You can check the balance in your account or place trades or even keep an eye on the stock prices, all in your mobile screen! For this you will need good cell coverage and a Blackberry Bold or any other web-enabled cell phone.
All good things come at a price. Yes, even opening an account with MBT has its own price ranges. It is $1000 for opening a cash account and $2000 for opening a margin account. For a Forex (Foreign Exchange) account, it is only $400. There are no inactivity fees, which is a big plus point.
Fees & Commissions
For frequent users and investors, MB Trading is truly a blessing. It not only offers low prices (i.e. $4.95 only for limit and market trades) but it also has various commission plans for the investors. The first plan is called the MBTR flat rate plan which is suitable for people who deals with up to ten thousand trades. The second commission plan is known as MBTX per share plan. Both the commission plans are priced at $4.95.
For Future trades the price is 95 cents per trade and an additional exchange fees. For options, it is only 95 cents for each contract, no minimum amount.
Very few online brokerage companies or online trading companies are as versatile as MBT. It offers a variety of investment products that leave you spoilt for choice. Forex trading, futures, options and stocks are examples of some of the basic investments offered by MBT. You can also get a direct route to CBOT, COMEX, NYMEX and CME through MBT.
If you have a bit of idea about trading software then this is not going to be a problem for you. Even if you don't know, there is no need to get worked up about it since you can always resort to online demos that are downloadable for free and check them out.
Helpful webinars, wiki, cell phone application, two trading software programs, etc are offered by MB Trading. The investors of MBT are also provided with access to a number of third party programs for the purpose of researching and educating. For the purpose of analytics and charting, MBT provides the investors' access to OmniTrader Professional, Ninja Trader, Q Charts, IntelliCharts, Tick Quest, Trade bullet, etc. MBT's trade tools and software packages are provided through Cool-Trade, Concord Exchange and AbleSys.
MB Trading is entirely based on the web and cell phone, which means that it does not have any brick-and-mortar office or centers where you can stop by for your queries. But this organization makes up for it by providing excellent and truly impressive 24 hours customer support service. You can contact them if you have any problem and they would be happy to help you out. A lot of investors have rated its customer support service as being No. 1 among other high end online brokerage companies.
It is a great online brokerage company for those people who are always on the run because they can now depend on their cell phones and learn to trade the modern way meaning fast and effective.
- Multiple powerful trading platforms (web, desktop and mobile).
- High quality executions.
- You can trade wide range of products from a single account.
- Very competitive commissions, in the bottom third of the brokers.
- Great customer service.
- No ECN and exchange fees.
- No maintenance, inactivity or hidden fees.
- Unique trade tools not found elsewhere.
Disadvantages/Customers don't like
- Annual fee for IRA.
- High margin rates.
- Monthly fee charged for options account if not enough contracts traded.
Written by: Goran Dolenc
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