MB Trading Keeps FDM Withrdraws FCM License
Viewers of the NFA’s site will notice that under information for US broker MB Trading, it is currently that listed
Viewers of the NFA’s site will notice that under information for US broker MB Trading, it is currently that listed under the firm’s status it lists “Futures Commission Merchant Pending Withdrawal”. Simultaneously the firm is registering to become an Introducing Broker. In addition, the broker continues to be registered as a Forex Dealer Member (FDM) and Retail Foreign Exchange Dealer (RFED) without mention of any pending Forex license withdrawals.
To learn more about MB Trading’s exit as an FCM, while remaining an FDM means, we reached out to the broker for comment. Management explained to us that “MB Trading Futures still maintains its RFED/FDM status to allow us to offer forex trading, and MB Trading Futures continues to introduce futures trading on a fully disclosed basis. The FCM was withdrawn for internal business reasons only.”
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After the finalization of the process, MB Trading, who as of the end of March had retail forex funds of $40.3 million, will continue to offer retail forex trading in a similar matter to how they do now. In regards to futures, their offering will apparently be provided through their Introducing Broker license that they are acquiring.
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Any word on who they are introducing to? Is it still Penson? They nearly went under last year, and finally were bought by Apex. I suppose that must have cost MBT quite a few equities/futures clients. The Pension situation dragged on for months and post-MFGlobal i doubt clients have a high tolerance-level for stuff like that.
Any word on who they are introducing to? Is it still Penson? They nearly went under last year, and finally were bought by Apex. I suppose that must have cost MBT quite a few equities/futures clients. The Pension situation dragged on for months and post-MFGlobal i doubt clients have a high tolerance-level for stuff like that.
very strange, MBT has very good service and reputation
very strange, MBT has very good service and reputation
Can you get more information from MBT on exactly what made them decide to withdraw? Perhaps at the next shareholder meeting / conference call something will be announced.
Can you get more information from MBT on exactly what made them decide to withdraw? Perhaps at the next shareholder meeting / conference call something will be announced.