MB Trading Review 2011-2012: Commissions, Fees and Investments
- Stocks and ETFs: $4.95 for limit and market regular hours orders for up to 10,000 shares
- OR $0.0075 per share with a $4.95 minimum per trade (proprietary order routing through MBTX system)
- Executions on foreign stock exchange: $4.95 + 0.01 per share
- Options: $0.95 per contract, per side, and no minimum ticket charge
- Mutual funds: $12.95 for no-load funds
- Bonds: $12.95
- Futures: $0.95 per contract
- Pink Sheets & OTC BB: $8.95 per trade, no limit to number of shares
- Forex: $2.95 per $100,000 traded
- Investment products: stocks, options, mutual funds, Forex, futures, bonds, ETFs
- Minimum to open MB Trading account: $1,000 for cash account, $2,000 for margin, $400 for a Forex, $500 for IRA
- All MB Trading fees
MB Trading Website (MBTrading.com)/Trading Tools Review
MBTrading.com 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 much richer features than most other trading platforms,
and many bells and whistles one would expect from professional trading software. Barron's has consistently ranked
MB Trading near the top for trading technology.
MB Trading has some of the best charting among online brokers. Their intelligent order-routing is the standard for "smart" order routes.
They offer direct order routing to CME, NYMEX, CBOT and COMEX.
MB Trading Pros
- Good commissions on market and limit orders (regular hours only and below 10,000 shares)
- Excellent trading tools
- Great customer service
- No ECN and exchange fees
- No maintenance, inactivity or hidden fees
MB Trading Cons
- Surcharge of $0.005 per share for extended hours and orders
executed using the Reserve, Discretionary, or Pegged order types
- $30 annual fee for IRAs
- High margin rates
- $0.01 per share fee to exercise options contracts
MB Trading Review Summary
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 MB Trading not an
ideal choice for a brokerage for new investors.
Because of $30 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 doesn't have penny stock surcharges, but it does charge additional $0.005 per share for extended hours trading. This could
be a deal-breaker for many people as most online brokerage firms don't charge this fee.
MB Trading offers MBT LightWave Trading Platform™, which is a comprehensive trading software
that allows users to view, analyze and execute trades in the same program. MBT LightWave manages 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 beginners, occasional traders,
buy-and-hold and mutual funds investors as well as for IRA holders we recommend researching companies in our
Best Brokerages list.
MB Trading
Reviewed by Brokerage Review on
.
Rating: 4
|