MB announced $1.95 per $100,000 for Forex Limit Orders
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Member since: 29/07/2010
Limit order is general type of order that is used by many traders to stop their losses or increase their chances of profits on trading. Generally limit order means an order to buy or sell at a pre-specified price level. “MB Trading” consist of two well known brokerage services companies, “MB Trading Futures, Inc”. and Manhattan Beach Trading Financial Services, Inc. (“MBTFS”). These are providing low commission and technology driven brokerage specializing in order routing in Equities, Options, FOREX and Futures through various global electronic networks and exchanges. MB Trading, announced today that it will begin paying $1.95 per $100,000 in currency executed for Forex Limit orders posted that add liquidity to its FOREX ECN.
According to CEO Ross Ditlove ”This is a game changer for the retail FOREX industry and the next logical step for our FX ECN,”. MB Trading displaying consolidates quotes from liquidity providers and customers of major banks,” Paying for Limit orders continues the drive to a fully transparent and efficient retail FOREX market place. It rewards our retail clients with lower trading costs and deeper liquidity.” Currently, the customer who traded on MB Trading System will receive $2.95 per $100,000 in currency for FOREX Limit Orders. For posting more limit entries on MB Trading System this announcement gives trader’s further incentive and to see all other retail participants will exist on the FX ECN. According to trader’s opinion it’s quite an interesting offer that will helps in promoting limit orders on MB Trading System. According to FXSTAT.com, if we understand the situation correctly then MB Trading actually providing here an incentive to become a price giver and on the other side of screen it turn profiting from it as liquidity providers to other brokers/liquidity pools. FXSTAT.com states more that for reducing the spread and increasing volume of limit orders on MB Trading System It is an interesting model where everybody has an incentive on its Limit Order. We speculate if other brokers will follow.