Yes, I use it. The only thing to remember is, should you have to reinstall Mcafee ever, it will object to MBAM being installed, however you can safely tell it to ignore that and continue.
MalWareBytes only scans when you specifically tell it to. It doesn't have any automatic scans and it doesn't have any active protection features. Because of this, it usually plays very nicely with more full-features Anti Virus systems you may have installed. That's (one of) the reasons that tech's like using it so much: because they can use it on a client's computer without interfering with their pre-existing antivirus.
But , I recommend you to uninstall Malware bytes. Because , McAfee is more than enough to protect your computer.
Malwarebytes in my opinion would be nice to have as a second opinion scanner, so I disagree with you nehal. yes Mcafee provides Strong protection but having malwarebytes would be nice to use if you think something might have sneaked pass mcafee or the product you have installed. It only runs while scanning.