Continuing the conversation about transparency in the Forex marketplace, MB Trading has updated their website this week to reflect the daily payment to clients since inception of their new Pay for Limits Program. MB Trading had already taken steps to highlight their spreads, but sharing how much they have actually paid out in real-time to their clients is somewhat unexpected. To accomplish this, MB Trading has added a real-time counter to their homepage which appears to update in real-time and a chart on their pricing pages, under the “our spreads” tab that displays the total daily payout to all clients.
At the time of this article, MB Trading reports they have paid over $41,000 to their clients. While it might not appear to be a significant number, I can imagine the clients who are seeing the credits add up in their trading account probably feel like it is, especially since they didn’t pay a commission for the trade. With regards to the spreads tightening from this new program, there does seem to be some movement on the FX Intel widget that supports the spreads are tightening, but it’s probably a little too soon to tell since the amount of limits submitted is only starting to pick up.
One last thing MB Trading added this week was an annual savings calculator tool based on the pair you trade, your average lot size, how many trades per month you run at that size, and what your fixed spread broker charges for that pair. Then using your trading style such as Market orders both ways, Limit orders both ways, or a combination, they display what your possible saving in a year could be. This certainly is an in-depth tool that took some serious calculations and I think traders will find it quite useful.
It seems MB Trading are not using this as just another promotion but are actually making additional steps to ensure this program's success and have focused their whole website around it. I suppose we will see this reflecting on MB Trading's volume and number over the coming months, and I'll try to update accordingly.
