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!
How Does It Work?
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 π
That does it for this news release.
Good luck with your trading everyone!
Cheers,
Alan
thats great… nice option and good marketing trick…
Sure is one smart marketing “trick” ! I bet now all the other ECN brokers are going to do the same.
Great post. In my opinion this is as much a “trick” as Google Ad words. Look what it did for them!
Well I wish them the best. I use this broker for both live manual and EA trading and for me this means I’ll get something extra in return for providing them with my business. So this is a case of the consumer winning.
Got $14 in rebates today. Very very nice and I am impressed. MB Trading, you get me business 100% now.
PH
Very nice π Over the long term the savings will be substantial when compared to a traditional fixed spread non ECN broker.
Do you really believe that? You think that thay will do something that makes them a loss. They are a business and unless they are gonna profit from it, they will never offer such things. How will liquidity help them, so much so that they are willing to pay you for it? Any guesses? It will tell them where most of the buy orders are and where the market will reverse and gives them a chance to manipulate price around that area. They may not be manipulating prices 99% of the time but that 1% time when the price is near support/resistance levels, your orders will not even get filled, thus they don’t even have to “pay for limit orders”. I’m experiencing that since they introduced this feature and I got sucked into it.