MB Trading Review
MB Trading Commissions, Fees, and Minimum Deposit
|Stocks and ETFs|| $4.95|
|Options|| $4.95 + $0.65 per contract|
|Mutual funds|| $9.95|
|Bonds|| $1 per bond with $10 minimum, $250 maximum|
|Certificates of Deposit (CDs)|| $24.95|
MB Trading had one of the worst new account registrations of all online brokers. This has definitely changed after TradeKing takeover took effect.
Right now TradeKing's new customer account application takes about 10 minutes to complete.
MB Trading Website/Trading Platform/Tools
MB Trading's trading software, called MBT Navigator, is a stand-alone (non-browser based) application - clients have to download and install it.
Because it's not browser-based, it offers many advanced features usually found only in a professional trading software. Barron's has consistently ranked
the firm near the top for trading technology, though not as high as Thinkorswim.
MB Trading provides some of the best charting tools among online brokers. Their intelligent order-routing is the standard for "smart" order routes, and
it is available for CME, NYMEX, CBOT and COMEX.
MB Trading Pros
- Low commissions on market and limit orders (regular hours only)
- Social networking
- Excellent trading tools
- Great customer service
- No account maintenance or inactivity fees
MB Trading Cons
- Surcharge of $0.005 per share for each share over the first 5,000, on extended hours trades, and orders
executed using the Reserve, Discretionary, or Pegged order types
- Stocks priced less than $1.00: $4.95 per trade + $0.01 per share, Maximum charge of 5% of principal value
- High margin rates
- $0.01 per share fee to exercise options contracts
In August of last year MB Trading announced that it is merging with TradeKing. 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. To learn more about the combined company or to open a new account, go to
MB Trading is targeting professional, experienced, active traders with low commissions and the number of powerful, versatile trading platforms.
There is a very steep learning curve to master the software and, together with few educational materials, it makes the firm not an
ideal choice for a brokerage for beginner investors.
Because of its $10 annual IRA fee, we can't recommend MB Trading for an IRA account. There are a lot of other
online brokers that offer fee-free retirement accounts.
MB Trading has penny stock surcharge, it also charges an additional $0.005 per share for extended hours trading and orders with over 5,000 shares. This could
be a deal-breaker for many traders, as most online brokerage firms don't charge these fees, and you sometimes need to execute
an order before market opens or after it closes.
MB Trading offers MBT LightWave Trading Platform™, which is a comprehensive trading software package
that allows users to view, analyze and execute trades in the same program. It manages the user's FOREX, stock,
futures, and options trades from one central location. It also provides proprietary Pressure Charts that have been used
by over 160,000 people in their trading, as well as Price Charts for more advanced trade analysis.
MB Trading is a good broker for frequent and experienced traders. For everybody else, especially
beginner investors, occasional traders,
and buy-and-hold and mutual funds investors as well as for IRA holders we recommend researching companies in our
Best Brokerage Firms list.
Get $1,000 in Free Trade Commissions at TradeKing.
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