WTF MB Trading?! What is wrong with your MT4 demo price feed/server?! Check this out folks:
1662449 2009.12.31 15:37 buy 2.70 gbpchf 1.67306 1.65760 1.67910 2009.12.31 17:10 1.00000 -2.57 0.00 0.73 -17 574.73
1662455 2009.12.31 15:00 sell 4.90 usdcad 1.04740 1.06260 1.04330 2009.12.31 17:10 1.05365 -2.89 0.00 -1.70 -290.66
1662460 2009.12.31 16:03 sell 3.00 eurgbp 0.88632 0.90140 0.88150 2009.12.31 17:10 0.89023 -2.53 0.00 -2.03 -189.82
1662480 2009.12.31 16:43 buy 4.10 usdchf 1.03516 1.01890 1.04020 2009.12.31 17:10 1.00067 -2.41 0.00 -1.59 -1 413.14
1662483 2009.12.31 16:35 sell 3.00 eurchf 1.48330 1.49840 1.47770 2009.12.31 17:12 1.00000 -2.53 0.00 -3.10 13 981.95
Notice something unusual?
This is taken from my demo FapTurbo account. I thought it a good idea to continue my long term test of FapTurbo with a ECN broker, and I though MB Trading would be a good ECN broker to use, but after this event I’m having second thoughts to put it diplomatically. Imagine if this happened on a live account!
As you can see for that -$17,574 GBP/CHF position the stop loss was set at 1546 pips (or 154 pips in 4 digit pricing), but somehow my position got closed at the ridiculous rate of 1.00000 resulting in a loss of 67306 pips ?!?! WTF! Had my actual stop loss been executed I would’ve lost only roughly $4174.2 trading with 2.70 lots. The really funny thing is that with that $17,575 loss my account went below the original starting balance which is $10,000 – who says that in forex you can’t lose more than your account balance ;)?
At the same time as that position got mutilated I noticed the following error message in the Experts tab:
2009.12.31 17:10:07 FapTurbo49 GBPCHF,M15: unknown ticket 1662274 for OrderClose function
And the following error message in the Journal tab:
2009.12.31 17:10:01 ‘500411867’: order #1662274 buy 2.70 GBPCHF closing at 0.00000 failed [Off quotes]
2009.12.31 17:05:20 ‘500411867’: order #1662274 buy 2.70 GBPCHF closing at 0.00000 failed [No connection]
2009.12.31 17:05:20 ‘500411867’: close order #1662274 buy 2.70 GBPCHF at 1.67306 sl: 1.65760 tp: 1.67910 at price 0.00000
2009.12.31 17:05:09 ‘500411867’: order #1662274 buy 2.70 GBPCHF closing at 0.00000 failed [No connection]
2009.12.31 17:05:09 ‘500411867’: close order #1662274 buy 2.70 GBPCHF at 1.67306 sl: 1.65760 tp: 1.67910 at price 0.00000
and it goes on, and on, and on…..
I’m not sure what the heck happened there. If I check the GBP/CHF chart there is NO down spike in price. So I’m not sure if this screw up is caused by their price feed spiking or by their demo server going all crazy. Either way their server pooped out and my account got raped.
But you think this is where it all ends? Nope! Amusingly (you gotta admit it this is funny) their MT4 Demo server screws up again, but this time in my favor. FapTurbo opened a short EUR/CHF position at 1.48330 which magically got closed at 1.00000!! Yep, that magic number again.
I am EXTREMELY interested in knowing if anyone else can corroborate my story; especially those of you with LIVE MB Trading MT4 accounts. Please post a comment if you can help me out!
Well, what can I do from here on. I’m going to get in touch with MB Trading tech support too and see if they can offer me some explanation, but what does it matter now, the damage has been done already. My demo account is now floating at $5003 (half of what I started with) so I gotta start my long term FapTurbo ECN broker test all over again..grrrr. As you can tell I’m not really happy about this. And you know what, I say screw it. I’m moving to another ECN MT4 broker. Bye MB Trading.
I already have a broker in mind, and hopefully maybe tomorrow or worst case before the end of this week I’ll make a posting announcing which broker I’m switching to.
Oh, and just in case someone may get to thinking that I’m just making all of this crap up to ruin the reputation of MB Trading here is visual proof (click on the images to see them enlarged):
Until next time, I wish you all happy and successful trading!
Cheers,
Alan