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LMAX = revolution?!?

  • #81
  • Jan 20, 2011 8:34am Jan 20, 2011 8:34am
Quoting Cocoflanel
LMAX keeps track of their average spreads :

http://www.lmaxtrader.co.uk/average-spreads

around 0.7 for EUR/USD for november/december

You won't find better execution than LMAX

Seems spreads are trending up since the start of the platform:


Averages for week ending 7/1/11
EUR/USD at 1,2
GPD/USD at 2,25

http://www.lmaxtrader.co.uk/average-spreads


Could be due to the lower liquidity after the holidays ?! Regarding the pound, you could trade at half the spread these days. Anyway, will have to see.
  • #82
  • Jan 25, 2011 11:56am Jan 25, 2011 11:56am
Quoting Traderlarry
Seems spreads are trending up since the start of the platform:


They should come down again in the future otherwise things become less interesting
  • #83
  • Jan 31, 2011 11:42am Jan 31, 2011 11:42am
Quoting PrymeTyme
Hey Fellas

http://www.lmaxtrader.co.uk/why-lmax

could this be the revolution ?

there is a new broker out there LMAX wich actually is no broker at all ??

its an exchange like betfair where people meet up and there tardes get matched
talking about befair ? LMAX is run by betfair .. and betfair revolutionized the sports betting markets..


so is cfd and forex the next wich is undergoing a new revolution ?

waht do you guys think of it ?

cheerz
bucket shops
Bulls are stupid Animals!especially when Im short!
  • #84
  • Feb 1, 2011 2:37am Feb 1, 2011 2:37am
Quoting roughtrader
bucket shops

You are some idi.. , Lmax is like an exchange, no intervention from crooked dealers sitting in a bucket shop
  • #85
  • Feb 1, 2011 2:59am Feb 1, 2011 2:59am
Quoting roughtrader
bucket shops
Not that I have a problem with bucket shops, but what do you mean by your comment?
"I made all my money by selling too soon"
  • #86
  • Edited 4:38am Mar 8, 2011 4:23am | Edited 4:38am
What's their leverage? I have a 80 p sterling account with them but I could not open any order due to insufficient funds.
Minimum order size is 1 minilot, it isays Margin:£ 0.00 on top there.

I need to transfer more only to test them? grrrr


Edit, found it grrrrrrrrr: http://trading-gurus.com/lmax-trader...ur-own-market/

"Since the minimum contract size is 10,000 GBP, and the leverage is 100 to 1, the platform helpfully pointed out that I'd be using around £102.05 margin per contract."

Edit2: Ok funded my account with a little more and made 80 cents profit That's like 0.7% on the account!
I found a penny today. That's +100 pips for me.
  • #87
  • Mar 8, 2011 4:25am Mar 8, 2011 4:25am
Quoting ReaM
What's their leverage? I have a 80 p sterling account with them but I could not open any order due to insufficient funds.
Minimum order size is 1 minilot, it isays Margin:£ 0.00 on top there.

I need to transfer more only to test them? grrrr
If I am not wrong, their website says 100:1 or 1% margin.
  • #88
  • Mar 8, 2011 4:46am Mar 8, 2011 4:46am
Thank you,

I find it difficult to find stuff on their website (like spread, leverage...etc).
I found a penny today. That's +100 pips for me.
  • #89
  • Mar 8, 2011 4:53am Mar 8, 2011 4:53am
Quoting ReaM
Thank you,

I find it difficult to find stuff on their website (like spread, leverage...etc).

It's stated here on the 3rd paragraph. "You can trade our FX markets from just 1% margin factor which is equal to 100:1 leverage."
http://www.lmaxtrader.co.uk/fx-trading/our-fx-markets

But I have problem finding out what is their min deposit and min lot size for forex.
  • #90
  • Mar 8, 2011 4:56am Mar 8, 2011 4:56am
Quoting $$Trader
It's stated here on the 3rd paragraph. "You can trade our FX markets from just 1% margin factor which is equal to 100:1 leverage."
http://www.lmaxtrader.co.uk/fx-trading/our-fx-markets

But I have problem finding out what is their min deposit and min lot size for forex.

The minimum deposit is £10.00, I asked them that in email, but the minimum contract size is one mini lot (10,000 units), so you need to deposit about 150 pound sterling.

CFDs have higher requirements. You need to deposit even more.
I found a penny today. That's +100 pips for me.
  • #91
  • Mar 9, 2011 1:29am Mar 9, 2011 1:29am
Quoting Bleek
Not that I have a problem with bucket shops, but what do you mean by your comment?
Hi Bleek! I just wanted to make sure you understod what your are getting your self into,
ofcourse I dont know how well informed you are about the different brokers out there?,
or if you just started out trading? if you did this info will be invaluable,
I would hate to see you loose your money,
thats why I commented on your post, you say you don't have a problem with bucket shops?
you should, because they are that ones who will rip you off,
in case you didn't know, a bucketshop is a market maker,
they make their own market for you to trade on,
so you will not be trading on the real market quotes,
any broker offering 400:1 is a market maker and they will work against you,
sabotage your trades any way they can,
because when you win, they loose, they will simply not allow you to win,
or did you think? they are there to make money out of you,
thats their bread and butter, they try to sucker you in with a high leverage,
you might as well flush 10% of your money down the toilet,
Im afraid you tell you how much money I lost to those assholes when I first begun,
unfortualy nobody told me about this so I had to learn the expensive way
I would stay away from any higher leverage than 100:1
which is what the "real" ecn brokers are offering at most,
good luck finding a broker.
Bulls are stupid Animals!especially when Im short!
  • #92
  • Mar 17, 2011 3:23am Mar 17, 2011 3:23am
Quoting roughtrader
Hi Bleek! I just wanted to make sure you understod what your are getting your self into,
ofcourse I dont know how well informed you are about the different brokers out there?,
or if you just started out trading? if you did this info will be invaluable,
I would hate to see you loose your money,
thats why I commented on your post, you say you don't have a problem with bucket shops?
you should, because they are that ones who will rip you off,
in case you didn't know, a bucketshop is a market maker,
they make their own market for you to trade...
Wow.

I've been trading for many years, it's my day job and I run a profitable trading company, I dare say I'm probably one of the most profitable people on this forum and needless to say I've used many brokers.

Saying that bucket shops work against you and rip you off is just rubbish - a poor trader always blames his tools.

People blame brokers for running their stops and whipping them out of a trade when in reality the trader was just plain wrong, it's a very rookie thing to blame others for your errors.

Also, do you realise how simple it is to verify the price feed of one broker versus another? If they do manipulate price they leave themselves massively exposed.

Higher leverage accounts aren't an issue, they just offer flexibility, leverage is irrelevant! Not everyone is using the antiquated (old fashioned) way of managing risk by a % of your capital, your risk is your risk regardless of capital.
"I made all my money by selling too soon"
  • #93
  • Mar 17, 2011 4:50am Mar 17, 2011 4:50am
It is a misconception that your stop get's taken out by your broker when it happens again and again.

Wrong. It is the market that takes out your stops because that's how the market works.

Welcome to trading.
  • #94
  • Mar 17, 2011 5:10am Mar 17, 2011 5:10am
Quoting Traderlarry
It is a misconception that your stop get's taken out by your broker when it happens again and again.

Wrong. It is the market that takes out your stops because that's how the market works.

Welcome to trading.
"I made all my money by selling too soon"
  • #95
  • Mar 17, 2011 5:29am Mar 17, 2011 5:29am
Quoting Bleek
Wow.

I've been trading for many years, it's my day job and I run a profitable trading company, I dare say I'm probably one of the most profitable people on this forum and needless to say I've used many brokers.

Saying that bucket shops work against you and rip you off is just rubbish - a poor trader always blames his tools.

People blame brokers for running their stops and whipping them out of a trade when in reality the trader was just plain wrong, it's a very rookie thing to blame others for your errors.

Also, do you realise how simple...
I just love to see prices reaching my sl by 1/10 of a pips and not been taken out something you wont experience on many MM
  • #96
  • Mar 17, 2011 5:39am Mar 17, 2011 5:39am
Quoting Kiado
I just love to see prices reaching my sl by 1/10 of a pips and not been taken out something you wont experience on many MM
That happens to me a lot, particularly on platforms that have pretty fixed/tight spreads.

If I do get stopped out I just check the lower prices on my other price feeds to make sure it's all legit.

Outside of big news events, I've yet to find any broker run my stop.
"I made all my money by selling too soon"
  • #97
  • Mar 17, 2011 5:54am Mar 17, 2011 5:54am
Quoting Bleek
That happens to me a lot, particularly on platforms that have pretty fixed/tight spreads.

If I do get stopped out I just check the lower prices on my other price feeds to make sure it's all legit.

Outside of big news events, I've yet to find any broker run my stop.

May i ask which MM do you use?
  • #98
  • Mar 17, 2011 6:08am Mar 17, 2011 6:08am
Quoting Kiado
May i ask which MM do you use?
I use 4, but I typically only trade on 2 platforms at one time.

MM - GFT & Oanda
ECN - Alpari Pro
STP - LMAX

And to be honest under 10 contracts they are all much of a muchness i.e. rarely do I see re-quotes, slippage or fowl play.

To be honest I've been thinking of reducing down to just LMAX and Alpari Pro.
"I made all my money by selling too soon"
  • #99
  • Edited Apr 7, 2011 7:58pm Mar 18, 2011 6:54am | Edited Apr 7, 2011 7:58pm
Quoting Bleek
Wow.

I've been trading for many years, it's my day job and I run a profitable trading company, I dare say I'm probably one of the most profitable people on this forum and needless to say I've used many brokers.

Saying that bucket shops work against you and rip you off is just rubbish - a poor trader always blames his tools.

People blame brokers for running their stops and whipping them out of a trade when in reality the trader was just plain wrong, it's a very rookie thing to blame others for your errors.

Also, do you realise how simple it is...
for a guy that has been trading for many years Im just sorry you can be so naive, it is certanly not rubbish, just take a look at the the Metatrader virtual trader plugin, it's evidence for you right there, and if you still don't want to believe it, you deserve to loose all your money, wake up!
Bulls are stupid Animals!especially when Im short!
  • #100
  • Mar 18, 2011 7:01am Mar 18, 2011 7:01am
Quoting roughtrader
for a guy that has been trading for many years Im just sorry you can be so naive, it is certanly not rubbish, just take a look at the the Metatrader virtual trader plugin, it's evidence for you right there, and if you still don't want to believe it, you need some serious help, wake up!
Then one must assume my success is pure luck. I clearly haven't got a clue what I'm doing - help!!

Anyway...

Who said anything about Metatrader because I didn't? I've never used it in my life because I don't like it, I don't trust it!

What has MT got to do with MM's and Brokers, most of them offer their own propriety platforms anyway. So, what was your point exactly?

With respect how about you wake up and don't take what I'm saying out of context and then proceed to move the goal posts.

"I made all my money by selling too soon"
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