With the addition of MB Trading’s renowned and award-winning trading platform, TradeKing will offer a powerful,
active trading experience for the most experienced traders, featuring the full spectrum of products, including stocks and ETFs,
options, bonds, forex and futures. For the latest information on the brokerage please visit
TradeKing review page.
MB Trading is a division of TradeKing now, which is perfectly safe and is a legitimate brokerage firm, which is offering the
lowest trading fees among largest brokerage firms.
TradeKing is a member of FINRA (Financial Industry Regulatory Authority), SIPC (Securities Investor Protection Corporation). SIPC provides insurance coverage up
to $500,000 of the customer's net equity balance, including up to $250,000 in cash.
TradeKing is consistently rated high by the industry reputable magazines. The broker is well-priced, provides an exceptional customer service and powerful trading tools.
Pros: Platform easy to use
Cons: buying power constantly wrong, terrible customer service
I would think twice about opening and account. Ever since MB was bought by TradeKing it has gone down the drain. You are now served by TradeKing reps who know nothing about active trading and are generally impolite and unhelpful. Much better brokers out there.
Cons: No AON orders
Burned again Order for 200 @ 22.10 ... Filled with 3 shares... but they got full commission. :(
Cons: no debit card deposits/ TP not filled/ Connection lost
My tp was not triggered. I was up 30 pips and suddenly my connection was lost. Needless to say It came back on hours later after the market went against my position. They do not have 24 CS so I couldn't call to get out and my mobile MB app did not show my active trade. I went to Oanda, very pleased with Oanda.
MB trade was the worst trading experience to date! I have been trading Options and Futures for almost 12 years and have tried about 5 different brokers, mainly to compare service and prices. When I opened with MB trade they took about 3 weeks to process my deposit, then asked them twice why my platform was still delayed and not real time. The response was there is nothing we can do it is a software issue. The final straw was an ES day trade that was $150 in the money, I put a limit sell order on. The chart/DOM went 3 ticks past my sell order with no sell of position. I was stunned the order did not trigger and liquidated quickly with a market sell order losing $25. The customer service sucked! the platform sucked! They are slow as hell in processing funds both deposit and withdrawal! MB trade is the worst excuse for a financial trade business that I have ever seen. I would not recommend them to my worst enemy!!!
I still have an account here, but it is the least of my favorite. The spreads here are really bad. I ran a strategy with them and fxcm and with side-by-side you can really see the fees are eating the MB trading account alive. They don’t have live chat, but rather a support ticket method. They website for funding with withdrawals is a bit confusing as well (I keep typed instructions). In my honest opinion, it appears that perhaps with the other lines of business they have, the don’t really intended to be competitive on the forex end. Also, be extremely careful with using EA’s or repeaters with them. If the markets are closed or your EA generates constant errors, there are fees they will charge you, taking the fees directly from your account balance. The rep tried to explain to me about this fees, but at the end of the day it just a way for them to make extra money off of you. Did I mention that you can’t trade with a balance less than $100?!?!?!!
Cons: web access is bad
I have been using MB web demo account for 2 month, I see the following problems with it:
1. If you place a market order with stop limit, it will not pick it and the trade will not be executed.
2. To close a trade you have to click on 3 windows ( No one click closing for the trade), Not good for fast market.
3. The account disconnect many times during the trade, and might have a problem signing in again.
I trade Futures and don't like to use a company that will make me lose because the web access is bad.
I've used MBT for a while, it's a good broker as far as the features it offers. But as far as trade executions it fails terribly. I experienced major slippages, trades being stopped out before the stop loss is touched.
I'm looking for another broker as we speak.
Pros: Best Options commissions in the industry
Cons: Outdated overnight processing
Best Options commissions in the industry. It's the only reason I use them, because most everything else is not good . Outdated overnight processing instead of real time processing, some sell trades do not result in immediately available funds for additional trading on the same day, meaning you will miss out on trading opportunities. Margin debit (borrowed money) when no trade or position(s) would ever trigger margin debit at any other major broker. No AON (all or nothing) option when making a trade!! Meaning you could easily get partially filled only, which could mean additional commissions for them, because some trades are only profitable when ALL of the position is traded. In my opinion, no Day Trader should ever use MBT and be prepared to do your own accounting to verify against the accounting firm they use, which is the only place where your account values will be correct. In a nut shell, if you do very discipline occasional trades, then MBT could work for you, otherwise unfortunately I can't recommend them until they fix all issues mentioned above.
It took me 1 month to find a good broker that is NOT a bucket shop, and this is IT! that's all I care about, I can trade make money, and then withdraw without all the other BS.
FPA reviews are unbelievably misleading, people post negative reviews because they suck at trading and lost money, review the BROKER please and not yourself.
Is this a fair Broker and not a bucket shop? YES
If you are profitable will you make money? YES
I have been trading off of their Demo mt4 and placing trades on their Live MBT Desktop PRO= started like that to make sure prices weren't manipulated and currently still trade like this so if you are looking for a fair broker choose this one don't give your money away to those a**whole bucket shops.