MB Trading Brokerage Platform Review

I have been using MB Trading brokerage account for last 5 years. I was attracted by their professional screen layout of the trading platform.  I am attaching screen shots below for you to see. During market hours when the data keep on refreshing, it gives a feeling that you are in the trading pit!

With a very steep learning curve to master the software and availability of very limited educational materials, MB Trading may not be an ideal choice for a brokerage for new investors.

MB Trading received “top rated online broker” award for 7 consecutive years now, including 2012. Experts have faith in them.

MB Trading is a trading platform, and for a user, you have several choices of which platform to use. A desktop version is available, or a mobile one if that is your lifestyle. You can also access your MB Trading account online, if you are already comfortable working on the cloud.

Just for those options alone, MB Trading already captures a pretty wide market, even if the general opinion on online trading is, if you don’t know what you are doing, you are just going to waste your money.

Especially with MB Trading. Several reviews on the platform have already noted the poor or absent customer service for the website. And it is pretty understandable – if you are just starting out your career as an online trader, you will have many questions that traders will not often answer – the learning is part of the experience.

But with regards to the platform, the questions have been more about how to use it, and not how to make it work. Online trading has been the technology for several years now, so the software is already well set, and for MB Trading, to the point of being customizable to the user’s preferences.

The MB Desktop Pro

Because the MB Trading platform is all about online trading, you will need a reliable Internet connection for smooth transactions. Financial centers have long known this – the value of being a microsecond faster in a transaction can be measured in profits.

For example, in Hong Kong, commercial broadband already offers speed of up to the gigabit per second, but that is because Hong Kong is one of the great financial centers in Asia.

But the operating system of the MB Desktop Pro is Windows, XP, Vista or 7. That choice of operating system alone leaves your data vulnerable. And if you are going to add the fact that you are going to need an Internet connection anyway, you might as well do your trading completely online, without the MB Trading program installed on your desktop.

The only advantage of the MB Desktop Pro is that the information will be customizable on your screen. The same information will be available on the online version of the trading platform, but you might have to flip through several tabs to get the information. On the MB Desktop Pro, your screen is your screen, and information is where you want to see it.

The Online Version

The online version of the MB Trading platform offers some functionality that only professional traders are encouraged to use. Automating the system for orders triggered at a certain time of the day, or for canceling an order if another order is placed is for highly advanced users – imagine the feature where a bear or bull call or put spread is possible.

For its mobile version, all operating systems are supported, so it doesn’t matter if you are using an Android phone or an iPhone. Using a tablet makes no difference except that your screen may be larger, but the bottleneck for both the web-based platform and the mobile platform is your Internet connection.

If you experience frequent or long lags, it may the the Internet connection bothering the application, making it more difficult to trade profitably.

Fees and Commission

MB Trading minimum deposits to open a cash account (stocks, options) is $1,000, for margin accounts (stocks, options, futures) it is $2,000 and for an IRA account (stocks, options) the minimum is only $500.

MB Trading offers two different commissions structures for stocks: a flat rate setup and a tiered offering. I use their flat rate structure, which is suited best for me as I do not have urgent liquidity needs and I only place limit orders which is supported by their flat rate structure.

For more information, you can directly visit rates page at MB trading.

MB Trading Pros

• Good commissions on market and limit orders
• Excellent trading tools, you’ll love the colorful data on a black background, kind of gives a matrix type feeling. and, it works!
• Great customer service, every time I called them I was connected promptly. Same with sending them emails or chat messages.
• No ECN and exchange fees
• No hidden fees for maintenance or, inactivity
• Superior and customizable charts

MB Trading Cons

• Surcharge of $0.005 per share for extended hours trading
• $30 annual fee for IRAs is steep to me
• High margin rates compared to other brokers
• $0.01 per share fee to exercise options contracts

The Rating

The MB Trading platform works best if you already know how to use it – the features alone tell that story. And while the flat rate of USD 4.95 certainly looks appealing, the margin rate of MB Trading is a  little high, so they get back what you save in the long run.

One final addition – MB Trading does not offer international trading – and for a professional trader, that is a big thing to consider when thinking of using the MB Trading platform.

If you are a trader like me, I will be just fine to use MB Trading for all your trading needs. MB trading is not for you if you trade during extended hours.

We give MB Trading a “Must Try” rating. You’ll either fall in love with it after using or, you’ll hate it. 

Because of $30 annual IRA fee, having MB Trading for an IRA Accounts is not recommended. Other online brokers offer free retirement accounts.

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