Find out the history of forex trading, how it works and how to trade. Note this is an educational site only and not for the purposes of forex trading.
MB Trading Brokers
MB Trading was founded by Ross Ditlove, CEO in 1999 and is based in El Segundo, California. This Electronic Communications Network (ECN) broker is regulated by the NFA and offers several trading platforms. While there are many attractive features in the platform offered by this broker, spreads tend to vary greatly - they can be as low as 1 pip but could also get as high as 20 pips. In addition to forex trading, the broker also offers commodities, futures and stocks.
Trading Platforms While forex trading is an integral part of MB Trading, the company has several accounts aimed at individuals and institutions whose interests are in stocks and CDFs. These accounts include Joint Tenants in Common (JTIC), Individual Accounts as well as accounts for corporations and sole proprietorships. All the major currency pairings are traded at MB and as an ECN the company does not have a dealing desk. Starting trading is easy and fast as the registration is conducted online. After applying to open a live account, the company verifies requested documents and you are able to start trading immediately after the application has been approved. The level of trader training at MB is reasonable but it could do with a bit of an upgrade. On the plus side, however, the company offers a forum where traders get to interact with one another and the company's staff via the MB Trading Wiki. This feature has largely been unused yet it was certainly created to make trading with this broker less cumbersome. A variety of customer support options are available at MB including live chat (MB Trading chat), email and telephone. The company's trading reps can also be reached via Skype. To open a forex account at MB, you will be required to make a minimum deposit of $400. For every $100,000 traded, you earn $2.95. Stocks and ETFs earn $0.0075 for every share traded and the minimum requirement per trade is $4.95. While there is much to make this broker appeal to most seasoned traders, there is one charge they levy that is rare among online brokers. At MB, you are charged $0.005 per share for trades conducted during the extended hours. This is against the spirit of the twenty four hour online working day and certainly discourages traders.
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