Warning about trading futures at MB Trading

Apparently, they perform maintenance every night between 11:55pm and 12:30am ET during which all orders are canceled. If they were GTC orders, they will be re-entered for you when the maintenance is over. The only mention about this that I have found is in the fine print on their Futures Commissions web page.



This means that if you had a limit or stop order active with them and the price hits your limit or stop price during this maintenance period, you will get whatever price is available after the maintenance is over. This would also happen if a C2 system enters a market order signal during this time.



Not relevant to C2, but if you have a trailing stop order when the maintenance starts, the current stop price (that you have been pulled up to) is forgotten and you will get a new stop price with your original offset from the available price when the maintenance ends (as if you had just entered the order again yourself). This means that you could go to bed thinking that you have limited your losses or locked in a certain amount of profits and wake up to find that it moved against you.



This is just one of many disadvantages that I have found about using this broker (instead of someone like optionsXpress) while the only advantage for me is the low commission fee. So, you get what you pay for.



Does anybody have any other information about this or know if other brokers do something similar?



Thanks,

Mike.