MB (Manhattan Beach) Trading is a US stock broker that provides Forex trading services and develops trading strategies for investors. The company was established in 1999 and became a Forex broker in 2003. Currently MB Trading has 120 employees on the staff.
Customers of the company can trade the following instruments:
- currency pairs.
Deposits and Withdrawals
Like the majority of US brokers, MB Trading is reluctant to use e-payment systems and prefers bank transfers and credit cards. Supposedly this is because the company aims to secure customers’ funds.
Clients of MB Trading can deposit and withdraw money in one of the following ways:
- Visa and MasterCard;
- Bank cheque;
- Bank transfer.
Requests are processed within one banking day. It is worth noting that the method and the currency of withdrawal do not depend on those of the initial deposit.
Since MB Trading is working as an ECN broker, no conflicts of interest can happen between the broker and its customers. Besides, it is registered in the USA, where financial companies activity is strictly regulated, so there is no doubt in the broker’s reliability.
Apart from the above, MB Trading is authorized and regulated by the following international financial institutions:
- the US Commodity Futures Trading Commission (CFTC);
- the Financial Industry Regulatory Authority of the USA (FINRA);
- the Financial Services Authority of the UK (FSA).
Bonuses and Promotions
MB Trading does not offer a great variety of contests, promotions and bonuses to it clients. The only promotion for new customers of the company enables them to close 100 transactions for stocks and options without commission. The promotion is available for a new account within 12 calendar months from the date of the initial deposit.
Trading Accounts Types
MB customers can trade on the following account types:
- Free EXN Plan;
- Pay for Limits;
- Stocks, options, futures.
As already mentioned, the company puts focus on medium and highly qualified traders. The range of accounts only proves this approach – it will be difficult for a beginner to spot the difference between the accounts types.
- Minimum deposit – $400 USD;
- Minimum traded volume – 0.1 lot;
- Fixed spread;
- Scalping allowed;
- Five-digit quotes;
- 29 currency pairs;
- Leverage – 1:100;
- Possible to open demo account;
- No commission.
The above parameters are common for all types of accounts.
The difference is that Free EXN Plan account has leverage only for customers from other countries. US citizens cannot use this option on this account.
Owners of Pay for Limits and Stocks, options, futures can trade using corporate trading platforms, while Free EXN Plan owners can use only MetaTrader 4. This is all for the difference between the accounts.
Customers can fund the deposit in the following currencies:
- US Dollar;
- Canadian Dollar;
- British Pound;
- Japanese Yen.
PAMM accounts of the company are worth special mention as these are advanced sophisticated instruments for potential investors.
MB Trading clients can open PAMM accounts of two types: manager’s account and investor’s account. The differentiation is to protect investor’s funds from manager’s dishonesty. The manager’s account does not allow to withdraw funds. At the same time, an investor can conduct any trade operations with its assets.
Trading Platform Types
MB Trading customers, who opened demo or live trading accounts, can trade on MetaTrader 4, the most popular platform among Forex traders of the world, and MBT Desktop Pro, the platform developed by the company specialists and allowing to buy and sell stocks of US companies, as well as futures and options.
MetaTrader 4 is adjusted to different operating systems. Its clients can use the platform from PC, IPhone, Android mobile devices.
Customer service of MB Trading is worth highest praise but is it noteworthy that only traders with great trading experience are able to duly appreciate its quality.
The choice of languages is also quite poor. It can be assumed that Spanish, Chinese and English are the most popular and required in the US.
There are the following ways to reach the support center:
- Multiline phone in the US;
- Live chat on the website;
- Call Back;
Irrespective of the way you chose, you can contact the service you need and be sure to get a full answer on any question. Moreover, highly-skilled representatives of the support center can give practical help or at least actively assist in solving any problem.
The broker is remarkable for its knowledge base with systematized data on technical and fundamental analysis. It must be admitted that even beginner traders will find plenty of useful information here.
Analytical and information sections are great finds for traders. News are not just “thrown” on the website, they are carefully processed and sorted by subjects and context.
Pros of Trading with MB Trading
Summing up the above, it is noteworthy that MB Trading ensures full safety of deposits (spending little on it) even for those traders, who did not have “a luck” to be born under the stars and stripes flag. Pricing transparency and unambiguity is another definite advantage, which along with a wide choice of trading tools makes the broker very attractive for traders willing to take a shot at real Forex trading.
Accurate and timely execution is also remarkable. Hardly any customer can reproach the company for slippages or requotes. Besides, strict withdrawal procedure is a calling card of the company.
There are some disadvantages at MB Trading, which are sharply seen from overseas. Traders associate the company with a rather bureaucratic approach to new customers registration. After completing the necessary documents, one should wait for a reply no less than three weeks. Rather high minimum deposit can also be counted as a drawback.
MB Trading Reviews
Garry Thomson: I’d like to emphasize a number of its main cons – commission for every lot. Apart from 0.5 spread for EUR/USD, we should pay from 3 to 6 dollars for every lot. I opened the account with effort – there were too many bureaucratic delays. On the other hand, one can long talk about high minimum deposit, but it should be remembered that for ECN brokers it is equal to $1 000 USD as a rule. Withdrawals take from 5 to 7 days. The bank’s commission is from $30-50 USD depending on the withdrawal amount.
FindiaMan: MB Trading has quite normal conditions, you can work with confidence and not worry that orders will be executed inaccurately or there will be some withdrawal delays.
Summarizing the above, one should again mention high level of customer assets safety (even for companies regulated by the US government). However, it is also noteworthy the company is conservative and uninterested in expanding its customer base outside the US. MB Trading provides services of superior quality and can afford not to pay attention to claims of those traders that fall below the company standards.