Manhattan Beach Trading Financial Services, Inc. (MBTFS) and MB Trading Futures, Inc. (MBTF) (collectively MB Trading), which is a technology-driven, low-commission brokerage specializing in order routing in FOREX, Equities, Futures, and Options through various global exchanges and electronic networks, announced this week 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.
This is a game changer for the retail FOREX industry and the next logical step for our FX ECN, CEO Ross Ditlove states. 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.
MB Trading consolidates quotes from major bank liquidity providers and customers, displaying them in the first fully transparent retail order book. Currently, customers pay $2.95 per $100,000 in currency executed on the MB Trading system. This significant change gives traders further incentive to post their Limit entries and exits on the FX ECN for all other retail participants to see.
We continue to design our technologies to align our interests with those of our customers, said David Lipsett, Executive Vice President of MB Trading. Most FX brokers are not displaying client orders. This continues to put money in the pockets of those brokers as they hold Limit orders for themselves, thus maintaining larger minimum spreads to the detriment of their own clients.
This new commission plan launches to all clients at the FX market open on Sunday, January 30, 2011.