MB Trading (MBT) and MB Trading Futures (MBTF) users must review the following Provisions and indicate their agreement to these provisions by clicking "I agree" below.
MBT and MBTF provides third party links and software applications solely as a convenience or for educational or informational purposes to its users. MBT and MBTF customers / users must review the following Provisions and indicate their agreement to these provisions by clicking "I agree" below.
MBT and MBTF, including its officers, members or employees, may: (1) have an affiliation with independent third party providers; (2) have direct or indirect control over independent third party providers; and/or (3) have discretion to alter the content of any third party link or software application.
MBT and MBTF does review the content of third party websites for compliance with federal, state or SRO rules or regulations regarding promotional material including advertising unless, otherwise not required by regulation. By linking to any third party website, you acknowledge and affirm that upon clicking on a third party link, you will immediately leave a website maintained by MBT and MBTF. You further acknowledge that all websites accessed through any third party application are not controlled by MBT and MBTF, except for MBT and MBTF’s website.
MBT and MBTF does not warrant the timeliness, accuracy or completeness of any facts, material or information contained on any third party website that is outside the control or knowledge of MBT and MBTF. Moreover, MBT and MBTF does not warrant the functionality of any third party application downloaded from its website. By clicking on any third party link or downloading any third party application, you hereby confirm and agree that MBT and MBTF shall not be responsible or liable for any loss or damage caused by use of or reliance upon facts, material or information obtained through the use of the third party website or application or for any loss or damage caused by use of a third party application.
Any opinions or recommendations expressed on any third party website or within any third party application are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of MBT and MBTF. Furthermore, MBT and MBTF does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment information contained on the third party website. Such links do not constitute a solicitation by MBT and MBTF to buy or sell any security or other investment.
MBT and MBTF reserves the right, in its sole discretion, to add or discontinue third party links or software application downloads on its website at any time and for any reason. Trademarks, logos, and service marks represented on this website are trademarks of their respective companies. Permission was granted for their use.
In order to integrate Metatrader 4 with MB Trading's ECN/STP execution, some behavior related to deal desks is not available. The following list describes certain functions of Metatrader (referred to as Generic Metatrader 4) and how they behave differently with MB Trading's Metatrader 4. Click here to download a PDF of this page.
Generic MetaTrader 4 allows you to add a stop loss and take profit to your market order via “Instant Execution,” whereas if you place a market order in MBT Metatrader 4, those columns cannot be changed because you must use the “Market Execution” order type.
Generic MetaTrader 4 allows you to rescan servers by clicking on the Connection Status in the lower right hand corner of the screen, where as MBT MetaTrader 4 does not.
Generic MetaTrader 4 differs on the close order box. You can check “Enable Maximum deviation from quoted price.” This option also comes up when you right-click to modify your order and then change it to market execution:
The MBT MetaTrader 4 order closing box does not have this:
When closing or modifying an existing order in Generic MetaTrader 4, at the bottom it says “Open price you set must differ from market price by at least x pips.” Also when you place a “Modify Order Type” the bottom reads “Stop Loss or Take Profit you set must differ from market price by at least x pips”:
MBT MetaTrader 4 version shows “0 pips at bottom,” reflecting that you are connected to an ECN:
Also when you place a "Modify Order Type" the bottom reads "Stop Loss or Take Profit you set must differ from market price by at least 3 pips"
MBT MetaTrader version shows "0 pips at bottom again"
Generic MetaTrader 4 quotes to a pip (four decimal places on most pairs, two on JPY-based pairs), as seen in this screenshot:
MBT MetaTrader 4 quotes to a tenth of a pip (five decimal places on most pairs, three on JPY-based pairs), as seen in this screenshot:
In Generic MetaTrader none of your orders change the quote. MBT MetaTrader, any limit order (to get into or out of a trade) reflects in the quote. The target (limit) side of a TTO, however, does NOT reflect in the quote because a TTO is waiting for either price to hit. Example below shows the Order window while setting up a Buy Limit between the spread on the GBPJPY on MBT Metatrader 4:
This next window shows the quote of GBPJPY after the order has been entered, reflecting the bid at 188.25:
There are some adjustments that need to be made to Metatrader Query Language scripts (Expert Advisors) due to differences between Generic Metatrader 4 and MBT Metatrader 4. These include, but are not limited to:
Generic Metatrader 4 platforms typically quote forex pairs in pips, which means 4 decimal places on most pairs and 2 on JPY-based pairs. MBT Metatrader 4 quotes pairs to the tenth of a pip, which adds a decimal place. Trailing Stops in Metatrader 4 are measured in “points,” not pips. Thus a 15 point trailing stop on Generic Metatrader 4 must be entered as a 150 point trailing stop on MBT Metatrader 4 to get the same 15 pip trailing stop results.
Metaquotes, the provider of MetaTrader, does regular updates to the platform in the form of LiveUpdates. MB Trading will have advance notice of live updates from MetaQuotes to test thoroughly in our demo environment before automatically being released to customers. Once we have tested the latest update, we will make the LiveUpdate available to our customers in their live accounts. We strongly advise against getting an update for the Metatrader 4 Client from another broker than has not been tested on our end.
