MB Trading offers active investors the platforms and tools they need to succeed, including access to forex and futures trading; however, customer service lacks quality and the broker's research offering is nearly non-existent.
MB Trading has been acquired by TradeKing. Please read our TradeKing Review for a full breakdown of the combined brokerage. The content portion of this Review was completed on February 17th, in conjunction with the Broker Review. MB Trading targets primarily active and seasoned investors, but also caters for intermediate investors. While the company is best known for forex trading we ranked them No. This review will focus only on MB Trading's equity and options offering.
For regular stock trades, two commission plans are offered: When it comes to commissions and fees overall, active traders will find MB Trading's rates competitive; however, they are not as low as the deep discount leaders, Interactive Brokers, Lightspeed, and OptionsHouse.
This is especially true for trading on margin. The broker also offers mobile apps for iPhone, Android, and iPad. MBT Desktop Pro is not built for newer investors, but is aimed rather at active traders. From trade hotkeys to market depth ladder trading, level II quotes, advanced charting, one-click trading buttons, completely customizable watch lists, numerous order types, direct market access, and all data real-time streaming, there is a lot to like.
The weaknesses with the platform include a lack of snap windows for easy setup, limited options trade analysis no custom spreads grouping or advanced analysis for current positions; weak analysis for potential positions , and the UI overall, which requires some time to get used to. As far as speed and smoothness go, MBT Desktop Pro, as the flagship platform, is a pleasant experience and bug free.
Furthermore, the login process for MB Trading Web has a longer load time. Like most active trader-focused brokers in this case TradeStation, Lightspeed, Interactive Brokers, etc. On the mobile front, MB Trading has its bright spots and weak points. On the plus side, the app uses real-time streaming data throughout.
Also, charts support a total of 45 technical indicators. On the cons side, there is absolutely no alerts functionality, the UI is not space efficient in certain areas horizontal chart viewing mode, for example , and the apps cannot be used to place after-hours trades or complex options.
Customer service was disappointing. MB Trading's support, via phone, email, or live chat, was very weak. Connection times for phone calls were quick; however, the reps were clearly undertrained, were hard to understand in several cases, and on many occasions simply did not have the answers to our questions.
Never once did a service rep ask for our name, ask if we had any more questions, or offer further assistance at the end of the call. Email and live chat offered some slightly better experiences, but, generally, they were also poor. On the positive side, MB Trading's website is well organized, mobile friendly, and easy to navigate. For a broker with such a diverse offering, this is no easy task, and while MB Trading has done multiple iterations of its website, we feel this one is the best yet.
MB Trading is a broker built for active traders and investors who not only are interested in stocks, but also trade options, futures, and forex. Coupled with its competitive commission rates, this makes MB Trading a legitimate competitor.
Like all brokers, there is also room for improvement. The mobile apps lack depth, and customer service is extremely weak, with inconsistency and a lack of attention to detail, making for a poor client experience.
Blain currently maintains funded accounts with more than a dozen different US-regulated online brokers and has executed thousands of trades throughout his career.
He enjoys sharing his experiences through his personal blog, StockTrader. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. For options orders, an options regulatory fee per contract may apply. Overall MB Trading offers active investors the platforms and tools they need to succeed, including access to forex and futures trading; however, customer service lacks quality and the broker's research offering is nearly non-existent.