MB Trading Review
MB Trading excels at providing a trading platform for different types of trading styles while keeping costs down and support high. But because their focus is on product and costs, there is room for improvement in their educational resources and tools.
Versatile platforms fit all trading preferences
MB Trading offers Desktop Pro and Meta Trader, which provide high-powered professional types with a dedicated platform and professional-grade tools. Their web and Mac versions utilize any browser for access beyond firewalls without the necessary software downloads of desktop versions. On-the-go forex traders can also check their account balance, place trades, and analyze charts from the mobile apps for iPhone, iPad and Android devices.
Trade many products from one account
MB Trading is one of the few forex brokers that provides a single platform under one account to handle multiple investment products, including in-depth charting, live market alerts, and access to a trading community. With the Lightwave platform, you can also scan, analyze, and place trades in forex, futures, stocks, and options. This is a great feature for the universal trader.
Choose a trading plan based on your trading style:
If you like to place a lot of limit orders, MB’s Pay for Limits plan pays you $0.50 per 100,000 executed for adding liquidity to the system. You do pay a $2.50 routing fee, but the Pay for Limits plan tends to get slightly tighter spreads. If you execute mostly market orders and don’t want to deal with routing fees, then choose MB’s Free EXN (Electronic Xrossing Network), which simply charges a markup in the spread as compensation.
Mobile tools don't miss a beat
While some brokers leave something to be desired when you go from the full to mobile versions of their platforms, MB Trading packs their apps with the same tools as their full version. Order entry is intuitive and easy. Their streaming quotes and integrated charts are particularly helpful for getting the most up-to-date information right before sending an order on the move. However, some traders have had issues with bugs on the older versions.
MBT WebLite offers quick access without the bells and whistles
Most forex platforms take time to load when you log in, which could cause you to miss a big trade. MBT WebLite offers you quick, easy, and convenient access to your account and the ability to instantly place trades once you’re logged into their website.
Tutorials miss general trading education
MB Trading offers decent learning materials geared at their platforms. However, unlike other forex brokers, MB Trading does not offer robust libraries of tutorials on general trading and market education to gear up their clients’ knowledge. If you’re looking to learn as you go, consider Oanda or FXDD.
Potentially buggy mobile app
As stacked as the mobile apps are in terms of tools, MB’s iPhone and iPad apps have not garnered much support from the community. Very few reviews exist, but they are mostly negative and include complaints of bugs. However, none of the reviews are directed at the latest version, which did fix many bugs, so the jury is still out on the ratings of the mobile apps.
Costs and Fees
- Forex Trade: $10
- Forex Trade Cost Type: Flat and pips
- Futures Trade: $0.45/contract
- Minimum Deposit: $400
- Options Trade: $0.15/contract
- Stock Trade: $4.95
- Clearing Method: ECN
- Maximum Leverage (International): 50:01:00
- Maximum Leverage (U.S.): 50:01:00