15/01/2010 21:17:28
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Posts: 27
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MB TRADING
Simply put: MB Trading is the best ECN you will find for NinjaTrader.
They charge a commission for FOREX - they do not add on to the spread!
REPEAT - They do NOT add on to the spread
You will be able to get spreads of between 0 pips and 2 pips or so.
For example if you did go at marke you wont be 9 pips in debt when the trade executes...
MB Trading unlike all the other Forex brokers for NinjaTrader- i have talked to so far they do not manipulate or delay the price with broker software which is slower to present and then execute -while it fishes for the best ask bid from a series of sources and then adds on a pip or 2 for what is called free commission.
MB Trading do not add on to the spread to pay MicroTrends for refering either - I.E MicroTrends does not participate in any introducing broker schemes - whereby payment is obtained by a percentage of the spread. MB Trading does not offer those schemes. MB Trading will never hide costs or claim free commission - they will never manipulate the spread.
You can open an account here:
MB TRading FOREX
look for open account
you will create a universal login
then you can add a demo forex account from your account page
"My Applications"
The minimum amount required to open a forex account with them is $400.
MB Trading offer the following lot sizes:
Whenever the USD is the PIP Currency ( BASE/PIP )
A standard lot (100,000) one pip= $10.00 (10 dollars)
A mini lot (10,000) one pip = $1.00 (1 dollar)
A micro lot (1,000) one pip = $0.10 (10 cents)
All you need to do is open an acount with them.
Demo Forex which will enable us to obtain spreads - we get free data with those spreads shown - amazing.
Then when ready you can open a live account with them - get free data and actually trade live using amounts from 10 cents per pip to $10 per pip.
More to follow on that soon.
All you do is open a universal login via MB Trading and add "account applications" to your universal account.
You can also trade Futures, Options and a host of other services if you want.
MARGINS
Commisions
You can trade either a standard lot (100,000), mini lot (10,000) or micro lot (1,000) in our platform. The leverage is 100:1 that means for a thousand dollar you have a margin of 100,000.
For example: GBP/USD which is a non US Dollar based currency so you would want to calculate comissions with respect to Example No. 2 in the above website.
Suppose you buy a standard lot of GBP/USD
Comission for the trade: 100,000 currency X 1.548530 (market price at execution) X 0.0000295 = $4.57
For calculating margin requirement for forex in our platform please refer to the following site:
Margin Requirements
For the above trade the margin requirement would be: Current price X 1% i.e.
100,000 X 1.548530 X 1/100 = $1548.53
It completely depends upon the market as well the order size but many traders trade a standard lot (100,000) in hopes for $10 pip. Once again, this is an estimate and a round off value, it also depends upon the pair you trade and how long you hold the position.
Another cost involved in forex is the rollover fees which is assessed Monday through Friday from 4:58 pm to 5:06 pm EST.
VALUE PER PIP
Whenever the USD is the PIP Currency ( BASE/PIP )
A standard lot (100,000) one pip= $10.00 (10 dollars)
A mini lot (10,000) one pip = $1.00 (1 dollar)
A micro lot (1,000) one pip = $0.10 (10 cents)
edited by tom on 24/02/2010
edited by tom on 24/02/2010
edited by tom on 24/02/2010
Start NinjaTrader
From within the Control Center window, select “Tools > Account Connections...” In the Account Connection Set Up window, press Add... MB TRADINGuse your password and username from your accountComplete the wizard From within the Control Center window, select "Tools > Options > Misc" Set the value for the property "Quote currencies (FX) in" to "10th Pip" You will now be able to connect to a free real-time rate simulation account
via the Control Center window “File > Connect” menu
edited by forum on 15/01/2010
edited by tom on 24/02/2010
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