|
FOREX ACCOUNT FUNDING
(Our Clearing Firm: MB Trading Futures, Inc.)
Forex accounts can be funded by mailing a check or sending a wire transfer from your financial institution. Cash deposits are not accepted. Once funds have been received into your account, a confirmation email will be sent. The minimum deposit required to fund a new account is $400.
Wire Transfers
Receiving Bank Address:
Wells Fargo Bank
420 Montgomery Street.
San Francisco, CA 94104
United States of America
Beneficiary: MB Trading Futures, Inc.
Account number: 0290119866
Memo Reference: Your name & account number
ABA number: 121000248
Foreign Wires: Swift code WFBIUS6S
Wires received by 4pm EST will be credited by the next business day after receipt.
Check Deposits
Please make checks payable to:
MB Trading Futures, Inc. (and include your account number)
Mailing address:
MB Trading Futures, Inc.
1926 East Maple Avenue
El Segundo, CA 90245
United States of America
|
Wires received by 4pm EST will be credited by the next business day after receipt.
Restrictions on Funding
Funds sent as below Will Be Returned
- Third party funds*
- Cash deposits
- Money orders
- Credit card
- ACH transfers
- Online transfers
- Traveler's checks
- Temporary checks
- Pre-dated checks
- Unsigned checks
- Checks from non US banks
- Funds in non-US dollars
- Checks drawn against lines of credit or credit card accounts
- Direct deposits into our account
- Checks not made payable to MB Trading Futures
- Funds for accounts that are deficient (not open)
* Third Party funding is defined as (1) funding drawn from a bank or brokerage account whose Title/Name and Entity does not match the customer's account Title/Name and Entity with our company or (2) any funding not made payable to the firm (MB Trading Futures). See FAQ #4
Checks may be subject to a 10 business day hold before funds are released for trading if the firm is unable to verify the funds with your financial institution.
Cashier's checks received by 2:00pm EST will be credited by next business day after receipt.
Frequently Asked Questions (FAQ):
- "What are the methods for funding?"
We accept bank wires sent to the bank account number above and checks (including cashier's checks) mailed to our office. If sending a cashier's check, have your bank print your name and account number on the check. Please review the funding instructions above for restrictions on funding.
- "Is my wire/check there? When will my wire/check be credited?"
Domestic wires can take up to 48 hours to receive. Some international wires take longer than 72 hours. Most domestic checks take a week to reach us. Funds received by 11:00am are credited by the next business day. If you do not see the wire in your account after 48 hours (72 hours for international wires) or the check in your account after a week, please review your emails and/or log into your account via the "Log In" link at the top of this page to see if there is a ticket explaining the location of your funds. (For wires, please verify with your bank that the funds were sent according the instructions above). After reviewing your emails and the tickets in your account, feel free to contact us at 1-866-558-3342 or at fxcashiering@mbtrading.com.
- "My check is there and it cleared my account. Why hasn't it posted to my account?"
"Your financial institution does not notify MBTF once your check has cleared your account in order to maintain its privacy policy of your information. As a general industry banking practice, checks clear after 10 business days, and we therefore require a 10 business day hold before funds are released for trading if we cannot verify your funds. To expedite the release of funds for trading, please fax us verification from your bank showing that the funds have cleared your account. This can be a screenshot from your bank statement showing the funds have cleared your account or bank documentation from a representative with your bank. Check deposits are not available for withdrawal for 10 business days.
- "Can I use my business bank account or trust account to fund my individual (or joint) account with MB Trading Futures? Or vice versa?"
No. Firm policy defines Third Party funding as funds drawn from a bank or brokerage account whose name, title, or entity does not match the name, title, or entity on the customer's account with us. Therefore, a business bank account should only be used to fund a business account with the same name, a personal bank account should only be used to fund an individual (or joint) account with the same name, a trust bank account should only be used to fund a trust account with the same name, etc.
- "Can I fund my individual account from my joint bank account?"
Yes. As long as your name is listed as one of the owners on the bank account where funds will be sent from.
- "Why were my funds returned?"
Please review the "Restrictions on Funding" listed above. Also, review your emails and log into your account via the "Log In" link above to see if there is a ticket explaining why the funds were returned.
- "How do I make a withdrawal?"
Visit the following website, http://mbtrading.com/forexWithdrawals.aspx . You can submit your request online via logging into your account or you can fax in the withdrawal request found on that site to 1-310-356-3115. Please review the tickets in your account for updates on your request.
- "Will you offer accounts in other currencies besides US dollars in the future?"
We are looking into offering accounts in other denominations sometime next year.
|
Banking Fees
Domestic wire transfer: $20
Foreign wire transfer: $30
Check request - regular delivery: FREE
- Overnight delivery: $15
- Saturday delivery: $25
Incoming wire deposit: FREE
Incoming check deposit: FREE
Returned check deposit (insufficient funds): $15
Stop payment: $25
|
