Hi everyone. One of the brokers that I use – MB Trading – just sent me an e-mail letting me know of a new feature they’re going to implement, and I thought I’d pass this on to you cause I think it’s rather neat – also as far as I know no other broker is doing this. The MB Trading folks are calling this feature “Get Paid for Limit Orders” Essentially it means MB Trading will now pay 1.95 per 100,000 in base currency volume for executed Forex limit orders. That means that orders which add liquidity, also known as resting limit orders, will now earn their clients a direct credit in real-time when executed. Pretty nice!
In this example using MetaTrader 4, the current quote on the GBPUSD is 1.60008 by 1.60027. Set up and place a Buy Limit order between the spread at 1.60015.
Your Buy Limit at 1.60015 immediately becomes the bid on the GBPUSD for all customers to see and hit. A market sell order will hit your bid first.
After you get filled at 1.60015, you will see a credit, not a charge, in the Commission column immediately. The credit value is 1.95 per 100,000 traded of your base currency.
Like I said I think this is a truly innovative feature and I can’t wait to see it in action on my own account 🙂
That does it for this news release.
Good luck with your trading everyone!