Quote:
Originally Posted by MWil
I'm a new trader looking at all brokers. One of the ones I was considering was MBTrading.
I looked at the cftc site, and they're only showing $3.2 million net capital. Should I be concerned seeing as they don't meet the $5 million criteria? However, I've heard MBTrading is a reputable broker... Just a little confused.
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Hi MWil,
I read on some other forums their response to the same question and they say they have some sort of agreement with another firm which has over $8million in net excess so they claim this is not an issue for them. I personally would still not trade with them as they charge commissions (I prefer just a spread) and they offer crummy leverage. Plus even if they have enough excess capital to get them out of this bind, the NFA has testified that they are looking to raise capital requirements to $20million eventually. Not sure these guys can manage that. I think it better to go with one of the larger brokers like Oanda or FXCM who have a much higher chance of being around next year. I hope this helps.