FX.co ★ MB Trading - Broker rating, review and comments
58
Rating:
Start year:1999
Country of origin:USA
Regulation:FINRA, NFA, SIPC
Payment options:bank transfers
Minimum account size:$500
Minimum lot size:0.1 lots
Leverage:-
Spreads:1.8 pips on EUR/USD
MB Trading is a professional brokerage company that offers trading services in currency, stocks, options, and futures markets.
Not so long ago MB Trading was bought by Ally Invest. Despite an ongoing work of the two companies to combine their products and services, customers can open an account and trade.
Ally Invest is a member of FINRA, NFA, SIPC.
Trading conditions
The broker offers trading in currencies via Ally Invest on the MetaTrader4 platform, which is one of the most reliable ones in the world.
If you want to trade in forex markets through Ally Invest, you need to deposit a minimum amount of $1.
To trade stocks, futures or options, you need to deposit at least $500.
On average, the main currency pairs’ spreads vary from 1 to 2 pips.
Accounts
According to the website information, a customer can open Individual, Corporate, Partnership, Trust, and IRA accounts. However, changes are expected in the near future, which, perhaps, will affect the classification of trading accounts.
Commissions
MB Trading offers various commissions on stocks, options and futures trading.
Stocks are traded at $4.95 per contract.
Commissions on futures trading are $0.85 per contract if you trade less than 250 contracts for a month; $0.65 per contract if you trade 251-2,000 contracts per month, and $0.45 if you are an active customer trading more than 2,000 contracts a month.
Options are traded at $0.65 per contract and plus $4.95.
There are no fees for registration or inaction, although some fees apply to the transfer and closure of IRA accounts.
Trading platforms
MB Trading offers a wide range of different platforms and their mobile versions.
NinjaTrader provides clients with tools for analyzing markets and trade ideas through the Advanced Trade Management (ATM) system. This makes trading more user-friendly.
The next offer is MB Trading's Desktop Pro. The platform contains more than 100 built-in indicators, an alert system that tracks price movement based on one hundred parameters, and an application for making charts. You can open several windows at the same time. The mobile application contains all full version tools.
Account management is simple, and streaming quotes and integrated charts are especially useful for obtaining up-to-date information before submitting an order.
The client can also trade on the MBT LightWave Trading Platform. According to the website, there is an entire network of MBT World, which unites traders, and you can get access to it through the trading platform. The program can automatically scan thousands of shares and options to find exactly those ones that match your trading needs.
Customer service
You can contact the customer service via phone, chat or email. Before the companies merged, a live chat was available on the MB Trading website and there was even a Skype option for those traders who used the VOIP service. It was much easier to contact the agent but, unfortunately, now these options do not exist. The support service consists of three departments: assistance in trading in stocks and options, futures, and in currency trading. Thanks to this structuring, the waiting time is significantly reduced.
The support service is available around the clock seven days a week, except for the forex department, which operates 24 hours from Monday to Friday.
Features
There are no training materials on the MB Trading website, but on Ally Invest you will find a lot of useful articles, including technical and fundamental analysis and glossary.
Deposits/Withdrawals
You can deposit and withdraw your funds only by bank transfer.
Not so long ago MB Trading was bought by Ally Invest. Despite an ongoing work of the two companies to combine their products and services, customers can open an account and trade.
Ally Invest is a member of FINRA, NFA, SIPC.
Trading conditions
The broker offers trading in currencies via Ally Invest on the MetaTrader4 platform, which is one of the most reliable ones in the world.
If you want to trade in forex markets through Ally Invest, you need to deposit a minimum amount of $1.
To trade stocks, futures or options, you need to deposit at least $500.
On average, the main currency pairs’ spreads vary from 1 to 2 pips.
Accounts
According to the website information, a customer can open Individual, Corporate, Partnership, Trust, and IRA accounts. However, changes are expected in the near future, which, perhaps, will affect the classification of trading accounts.
Commissions
MB Trading offers various commissions on stocks, options and futures trading.
Stocks are traded at $4.95 per contract.
Commissions on futures trading are $0.85 per contract if you trade less than 250 contracts for a month; $0.65 per contract if you trade 251-2,000 contracts per month, and $0.45 if you are an active customer trading more than 2,000 contracts a month.
Options are traded at $0.65 per contract and plus $4.95.
There are no fees for registration or inaction, although some fees apply to the transfer and closure of IRA accounts.
Trading platforms
MB Trading offers a wide range of different platforms and their mobile versions.
NinjaTrader provides clients with tools for analyzing markets and trade ideas through the Advanced Trade Management (ATM) system. This makes trading more user-friendly.
The next offer is MB Trading's Desktop Pro. The platform contains more than 100 built-in indicators, an alert system that tracks price movement based on one hundred parameters, and an application for making charts. You can open several windows at the same time. The mobile application contains all full version tools.
Account management is simple, and streaming quotes and integrated charts are especially useful for obtaining up-to-date information before submitting an order.
The client can also trade on the MBT LightWave Trading Platform. According to the website, there is an entire network of MBT World, which unites traders, and you can get access to it through the trading platform. The program can automatically scan thousands of shares and options to find exactly those ones that match your trading needs.
Customer service
You can contact the customer service via phone, chat or email. Before the companies merged, a live chat was available on the MB Trading website and there was even a Skype option for those traders who used the VOIP service. It was much easier to contact the agent but, unfortunately, now these options do not exist. The support service consists of three departments: assistance in trading in stocks and options, futures, and in currency trading. Thanks to this structuring, the waiting time is significantly reduced.
The support service is available around the clock seven days a week, except for the forex department, which operates 24 hours from Monday to Friday.
Features
There are no training materials on the MB Trading website, but on Ally Invest you will find a lot of useful articles, including technical and fundamental analysis and glossary.
Deposits/Withdrawals
You can deposit and withdraw your funds only by bank transfer.
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