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Broker Reviews

MB Trading

Published by
On Friday, January 23rd, 2015 .


MB Trading offers active investors the platforms and tools they need to succeed, including access to forex and futures trading; however, customer service lacks in quality and the broker's research offering is nearly non-existent.


MBT World a poor effort at community functionality; additional charges for trading after hours under the MBTR plan.

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MB Trading Review

MB Trading is built with active and seasoned investors in mind, while also catering to intermediate investors. While most prominently known for forex trading (we ranked them No. 1 for forex in our 2011 Forex Review), the broker offers the full spectrum of trading: equities, options, futures and forex

This review will only focus on MB Trading's equity and options offering. 

Commissions & Fees

For regular stock trades, two commission plans are offered: flat fee $4.95 per trade (MBTR plan) and the other is $0.0075 per share with a $4.95 minimum per trade (MBTX plan). Options trades are $.95 per contract if trading 0- 10 contracts and can be as low as $.15 per contract when trading 251 contracts or more. For a complete breakdown, please see click the Commissions & Fees tab above and scroll down to the notes section.

One important note is that under the MBTR plan, after hours trades are charged an extra $.005 per share, a fee that is archaic in todays world and should be put to rest. Also, clients are charged a $7.50 data fee each month atleast $25 in commissions are not spent month.

Lastly, mutual funds are not supported by MB Trading. 

When it comes to commissions and fees overall, active traders will find MB Trading's rates competitive, however, not as low as the deep discount leaders Lightspeed and Interactive Brokers. This is especially true for trading on margin. With that said, if trading large order sizes of 3,000+ shares or 101+ contracts, MB Trading is the cheaper route.

MB TradingTradeStationInteractive BrokersOptionsHouseLightspeed Trading
Stock Trade Fee (flat)$4.95$9.99N/A$4.95$4.50
Options Base Fee$0.00$0.00$0.00$4.95$0.00
Options Per Contract Fee$0.95$1.00$0.70$0.50$0.60
Broker Assisted Trades Fee$4.95$20.00$30.00$15.00$25.00
Commissions & Fees

Platforms & Tools, Mobile

MB Trading offers a variety of platforms, with the two primary ones for equities trading being MBT Desktop Pro (desktop-based) and MBT Web (web-based). The broker also offers mobile apps for the iPhone, Android and iPad.

MBT Desktop Pro is not built for newer investors, and instead has active traders at heart. From trade hotkeys to market depth ladder trading, level II quotes, advanced charting, one-click trading buttons, completely customizable watch lists, direct market access and all data real-time streaming, there is a lot to like.

MB Trading Desktop Pro ladder tool

The weaknesses with the platform include a lack of snap windows for easy set-up, limited option trade analysis (P&L reporting is minimal, and probability and risk analysis could be more intuitive for less experienced traders), and the UI overall, which requires some time to get used to.

MB Trading Desktop Pro charting

As far as speed and smoothness goes, MBT Desktop Pro is the flagship platform, a pleasant experience and bug-free. However, the same cannot be said for MBT Web. We found opening and closing MBT Web in Chrome to be a lost cause, forcing us to use Firefox or Internet Explorer instead.

MB Trading Web loading screen

With mobile trading, the iPad app has a lot of potential. It is apparent that MB Trading's mobile strategy is to create a seamless user experience whether on mobile or the web, and given proper tech resources alongside time, they may very well accomplish their mission.

Back to MBT Desktop Pro, one big positive for active traders is the order entry capabilities. Customizing and placing orders, despite the type, is a smooth experience. The number of order types available is also staggering, with 28 total available as of this review.

Other Notes

Like most active trader-focused brokers (in this case TradeStation, Lightspeed, Interactive Brokers, etc) MB Trading does not offer any research, and education is extremely weak. This is expected.

One disappointment came through our customer service testing. MB Trading's support, whether it be phone, email or live chat, was very inconsistent. Some reps were nice, while others made us feel rushed and unappreciated. In some phone calls, we had a connection in less than a minute, while others took up to five minutes. One email came back in less than an hour, while another took more than two days. Overall, when it comes to customer service, MB Trading has room for improvement.

On the positive side, MB Trading's website is well organized 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.

Closing Thoughts

MB Trading is a broker built for active traders and investors who not only have an interest in stocks, but also options, futures and forex. The flagship platform, MBT Desktop Pro, is fast, bug-free and an order entry magician. Coupled with its competitive commission rates, this makes MB Trading a legitimate competitor.

Like all brokers, there is also room for improvement. The MBT Web platform still has its fair share of bugs and customer service is also weak, with inconsistency and a lack of attention to detail making for a poor client experience.

Blain Reinkensmeyer

Reviewed by

Blain has been involved in the markets for over 12 years, heading equity broker research and reviews. His personal blog,, provides to-the-point daily market recaps to over 17,000 subscribers.

Commission Notes

Minimum Deposits - MB Trading minimum deposits to open an account vary by account type. For a cash account (stocks, options) the minimum is $1,000, margin accounts (stocks, options, futures) need a $2,000 minimum deposit, and for an IRA account (stocks, options) the minimum is only $500.

Stocks - MB Trading offers two different commissions structures for stocks: a flat rate setup and a tiered offering. Here at we utilize the flat-rate commissions structure for listing rates throughout the site. Both offerings and all subsequent fees are broken down below.

Flat-fee trading stock commissions - The MBTR plan offers both market and limit orders at any share price with an unlimited amount of shares for $4.95. Thus, a 100 share purchase of a $50 stock would cost $4.95, and a 8,000 share purchase of a $100 stock would cost $4.95. There are additional fees however for trading during pre (before 9:30 AM EST) and post (after 4:00 PM EST) market hours, or if placing any of the following specialty order types: Reserve, Discretionary, or Pegged. This additional fee is $.005 per share ontop of the base commission rate of $4.95.

Tiered stock commissions - The MBTX plan is designed for more active traders seeking better (professional) executions for their trades. Stock trades placed under this plan are $0.0075 per share with a $4.95 minimum per trade.

Data feeds & fees - It is important to note that MB Trading does charge a $7.50 per month data fee waived if a minimum of $25 in commissions are spent in a given month. Also note for clients who opt to have Level II quotes, there is a $10 monthly fee which can be waived if 10 trades are placed each month. A variety of additional advanced data feeds are also available.

Tiered Options commissions - All options orders are charged based on the number of contracts: $0.95 per contract (1-10 contracts); $0.60 per contract (11-100 contracts); $0.35 per contract (101-250 contracts); $0.15 per contract (over 251 contracts). The broker does not allow any naked put or call options orders to be sold. Also, there is a $.01 per share fee to exercise options contracts.

Mutual Funds - Mutual funds cost $12.95 per trade and must be phoned in. Mutual Funds currently cannot be traded through any MB Trading platforms.

Other Investments - MB Trading offers both forex and futures trading.

International Trading - MB Trading offers international trading support. For a full list of countries supported please visit the site.

Trade Commissions Breakdown

$4.95 Stock Trade Fee (flat)*
$0.0075 Stock Trade Fee (per share)*
$0.00 Options Base Fee*
$0.95 Options Per Contract Fee*
$0.00 Options Exercise Fee
$0.00 Options Assignment Fee
$12.95 Mutual Fund Trade Fee
$4.95 Broker Assisted Trades Fee
$1,000.00 Minimum Deposit

Margin Rates

7.45% Under $24,999.99
7.45% $25,000.00 to 49,999.99
7.45% $50,000.00 to $99,999.99
7.45% $100,000.00 to $249,999.99
7.45% $250,000.00 to $499,999.99
7.45% $500,000.00 to $999,999.99
7.45% Above $1,000,000.00

Miscellaneous Fees

$12.95 Bond Trade Fee
$0.00 Treasury Trade Fee
$0.00 CD Trade Fee
$0.00 IVR Trade Fee
$30.00 IRA Annual Fee
$20.00 IRA Closure FEe
$0.00 Forced Margin Sellout Fee
$30.00 Returned ACH Fee
$30.00 Returned Wire Fee
$75.00 Stock Certificate Processing Fee
$235.00 Stock Certificate Delivery Fee
$5.00 Paper Statement Fee
$2.00 Paper Confirmation Fee
$15.00 Domestic Wire Fee
$50.00 International Wire Fee

MB Trading Ratings

Commissions & Fees
Ease of Use
Platforms & Tools
Customer Service
Mobile Trading
Offering of Investments

MB Trading Awards


MB Trading was awarded 4 stars for Platforms & Tools. Read the 2014 Online Broker Review.


MB Trading was rated 4 stars for Platforms & Tools. Read the 2013 Broker Review.


MB Trading was Best in Class for Platforms & Tools, Active Trading, and Options Trading. Read the 2012 Broker Review.

Offering of Investments

Apex Clearing Clearing Firm
0 Commission Free ETFs
Yes Corporate Bonds
Yes Direct Market Routing - Stocks
5000 # of Easy to Borrow Stocks
Yes Forex Trading
Yes Futures Trading
No Fee IRAs
Yes Mini Options
Municipal Bonds
Yes Mutual Funds
7553 Mutual Funds (Load)
4522 Mutual Funds (No Load)
0 Mutual Funds (NTF)
12075 Mutual Funds (Total)
No Inactivity Fees
No Minimum Deposit
Yes Options Trading
Yes Order Type - After Hours
Yes Order Type - Algo
Yes Order Type - Broker Assisted
Yes OTCBB / Pink Sheets
0 Retail Locations
Yes Stock Trading
Yes US Treasury Bonds
Yes Weekly Options

Customer Service

Yes Phone Support
Yes Email Support
Yes Live Chat (prospect clients)
Yes Live Chat (current clients)
24/7 Support

Platforms & Tools

Yes Desktop Platform
Mac Platform
Yes Web Platform
MBT Desktop Pro Active Trading Platform
Auto Investing
Yes Ladder Trading
Yes Level 2 Quotes - Stocks
Yes Option Chains - Basic View
Yes Option Chains - Strategy View
Yes Option Analysis - P&L Charts
Yes Streaming Time & Sales
Streaming TV
Yes Trade Hot Keys
Yes Virtual Trading


Research - ETFs
Research - Mutual Funds
Research - Pink Sheets / OTCBB
Research - Fixed Income
Yes Misc - Global Market Overview
Yes Equity Research - News
Yes Equity Research - Chart
Yes Equity Research - Option Chains
Equity Research - Balance Sheet
Equity Research - Cash Flows
Equity Research - SEC Filings
Equity Research - Insider Analysis
0 Equity Research - Research Reports
ETF Research - Top 10 Holdings
ETF Research - 3rd Party Ratings
ETF Research - Research Reports
Mutual Fund Research - Prospectus
Mutual Fund Research - Research Reports
Mutual Fund Research - Fees Breakdown
Mutual Fund Research - Performance Analysis
Mutual Fund Research - Performance Chart
Mutual Fund Research - Top 10 Holdings
Mutual Fund Research - 3rd Party Ratings
Yes Screener - Stocks
Screener - ETFs
Screener - Mutual Funds
Screener - Options
Screener - Bonds


Has Education - Stocks
Has Education - ETFs
Has Education - Options
Has Education - Mutual Funds
Has Education - Bonds
Has Education - Retirement
Investor Dictionary
Yes Client Webinars
Live Seminars
Retirement Calculator
Yes Community Forums

Mobile Trading

Yes iPhone App
Yes iPad App
Yes Android App
Yes Mobile Site
Yes Company Data
Yes Company News
Watch List Syncing
Yes Options Chains Viewable
Yes Market Movers (Top Gainers)
Barcode Lookup
Yes Charting - Multiple Time Frames
Yes Charting - Can Turn Horizontally
Charting - Portfolio Perf vs Indices
Charting - Stock Comparisons
Yes Trading - Stocks
Yes Trading - Simple Options
Withdrawal Balance Available


Checking Accounts
Savings Accounts
Debit Cards
Credit Cards
Mortgage Loans
Mobile Check Deposit
ATM Fee Reimbursement
No Fee Banking

Active Trading

Yes Internalizes Trades
Yes Receives Payment for Order Flow
Client Liquidity Rebates

Best in Class

Best in Class - Offering of Investments
Best in Class - Commissions & Fees
Best in Class - Platforms & Tools
Best in Class - Research
Best in Class - Customer Service
Best in Class - Ease of Use
Best in Class - Investor Education
Best in Class - Mobile Trading
Best in Class - Active Trading
Best in Class - Options Trading
Best in Class - New Investors

Compare MB Trading:

All pricing data was obtained from a published web site as of 11/01/2014 and is believed to be accurate, but is not guaranteed. The staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the top of this page. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply. Square Logo