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LMAX = revolution?!?

  • #141
  • Jul 1, 2011 9:10am Jul 1, 2011 9:10am
Honestly the platform is fine, it is super quick and clear. If you trade from indi's open mt4 and trade with that.... But there are platforms for trading and there are charting platforms and then there are platforms that do both.
I prefer to keep it separate. Horses for courses.... I am interested to see what they do with it. The new CEO when he comes along will surely release a statement about direction...
The winner of the rat race is still a rat.
  • #142
  • Jul 1, 2011 9:21am Jul 1, 2011 9:21am
I agree that the platform is fine and that charting can be done somewhere else. But the question is not if you or me like it, but what is the best way to get more clients - and a sophisticated charting/autotrading software (together with aggressive marketing) appears to be a successfactor in the retail segment.

HotspotFX retail had much the same problem - they had good execution and cheap fees but only a barebone orderentry platform, but ultimately thats not enough in retail fx and had to close down.
  • #143
  • Jul 16, 2011 6:21am Jul 16, 2011 6:21am
Quoting shrike
Agreed, in my opinion they should support one or more 3rd party platforms, something like Ninjatrader, Multicharts or MT5, since that would be the fastest way to get decent charts and easier automation going.
This is exactly what I'm hoping for, at least with regard to NT and Multicharts.
  • #144
  • Jul 21, 2011 4:50pm Jul 21, 2011 4:50pm
Yeah, Ninja would be amazing. I'd move huge amount of my funds to Lmax then. Even MT4 would be a step forward, but LMAX does not deserve to be called bucket shop even once hehe.


Quoting Drewfired
I use www.fxintel.com for comparing broker spreads. I've noticed LMAX is very tight with their spreads.
Amazing link!!
I found a penny today. That's +100 pips for me.
  • #145
  • Jul 22, 2011 5:26am Jul 22, 2011 5:26am
Rumour has it, that MT4 connections may be on the way...that would be brilliant coupled with the low spreads
  • #146
  • Jul 22, 2011 10:47am Jul 22, 2011 10:47am
Hello, thank you for this thread and for bringing this broker to my attention! Question, please bear with me, I don't think I understand their commission prices. http://www.lmaxtrader.co.uk/fx-trading/fx-charges Instrument: All rolling spot FX crosses: Rate: 0.0025% of notional traded value of the second currency. So let's say I'm trading eur/gbp and it's at .8800. Does this mean I pay $220 for a standard lot? This doesn't seem right to me...
  • #147
  • Jul 22, 2011 11:39am Jul 22, 2011 11:39am
Quoting Fee
Hello, thank you for this thread and for bringing this broker to my attention! Question, please bear with me, I don't think I understand their commission prices. http://www.lmaxtrader.co.uk/fx-trading/fx-charges Instrument: All rolling spot FX crosses: Rate: 0.0025% of notional traded value of the second currency. So let's say I'm trading eur/gbp and it's at .8800. Does this mean I pay $220 for a standard lot? This doesn't seem right to me...
No, you pay 25 GBP per million (or 2.5 GBP per 100K or 0.25 GBP per 10K) for eur/gbp.
For eur/usd its the same, but its 25 USD per million instead of GBP.
  • #148
  • Jul 22, 2011 3:35pm Jul 22, 2011 3:35pm
Quoting shrike
No, you pay 25 GBP per million (or 2.5 GBP per 100K or 0.25 GBP per 10K) for eur/gbp.
For eur/usd its the same, but its 25 USD per million instead of GBP.
Ah, okay I see. Thank you.
  • #149
  • Aug 2, 2011 6:03am Aug 2, 2011 6:03am
dear traders , hello.

i have searched LMAX site and
i think i can understand the LMAX idea.. it seems nice.
anyway , i have some questions actually.

that system can run well but , i guess it depends on client number and also total market deepth. does anyone have some info please ?

anybody trading live and have some experiences also ?

thanks and regards.
the best indicator is trader's knowledge , experience and dicipline.
  • #150
  • Aug 5, 2011 8:03am Aug 5, 2011 8:03am
Quoting fx-season
dear traders , hello.

i have searched LMAX site and
i think i can understand the LMAX idea.. it seems nice.
anyway , i have some questions actually.

that system can run well but , i guess it depends on client number and also total market deepth. does anyone have some info please ?

anybody trading live and have some experiences also ?

thanks and regards.
Amazing spreads, I trade a tiny account for fun. I don't use their charts and neither should you, unless you don't have anything else. Amazing broker.

I would recommend: open the account with 5 brokers and use all of them. I have Oanda, LMAX, Alpari Classic, Alpari Pro, GFT. Not countring my stock market accounts hehe.

Just go ahead and open the account and test things. I like LMAX a lot. Especially good for daily trades where you don't have to have an open position over night. Low spreads keep costs low, if you trade several times a day.
I found a penny today. That's +100 pips for me.
  • #151
  • Aug 5, 2011 9:26am Aug 5, 2011 9:26am
I have a small test account (live) too, since a month. First impression is that the platform is very reliable, and fills are really fast. Its quite solid.

Compared to Oanda, i would say that eur/usd and usd/jpy are usually about the same or sometimes a bit cheaper on Oanda - if you factor in the commission, but most of the other pairs are on average cheaper on lmax.

Depth is ok if you dont trade more than a few millions.
  • #152
  • Aug 5, 2011 10:14am Aug 5, 2011 10:14am
dear ReaM and shrike , thanks a lot for your supports.

about a broker , for me , the most important is the reliabity , honesty.. i mean , no broker-side manuplations on my trades and no problems in withdraw.. low commissions and tigth spreads are not a must actually , because if your broker works against you , or you can't withdraw , low commissions or tigth spreads are useless at all..

i am still considering Lmax and gonna ask about it with some friends also.
i will share opinions here , if i can get any..

do you have any experiences about withdraws etc please ?
thanks and regards.
the best indicator is trader's knowledge , experience and dicipline.
  • #153
  • Aug 5, 2011 11:04am Aug 5, 2011 11:04am
No sorry, never withdrew money from them.
I found a penny today. That's +100 pips for me.
  • #154
  • Aug 5, 2011 11:54am Aug 5, 2011 11:54am
thank you for your sport ReaM..
i will keep on searching also
the best indicator is trader's knowledge , experience and dicipline.
  • #155
  • Aug 8, 2011 2:26pm Aug 8, 2011 2:26pm
Apparently they have a major meltdown? Service is unavailable since at least 1.5 hours. Not good.
  • #156
  • Aug 10, 2011 9:15am Aug 10, 2011 9:15am
Quoting shrike
Apparently they have a major meltdown? Service is unavailable since at least 1.5 hours. Not good.
They have maintance hours. Maybe it was that?

LMAX is perfect for day trading and scalping. Today I entered trades with 0.2 pip spread (EURUSD), while I did the same on my main account with Oanda with 1.5 pip spread.

I don't know how high are commissions in actual pips. I may be trading with 1 pip spread the whole time, but it beats everyone else because of very fast execution.
I found a penny today. That's +100 pips for me.
  • #157
  • Aug 10, 2011 10:36am Aug 10, 2011 10:36am
No, it was monday evening (uk time). Look at the lmax chart, you can see missing data for the period in question.

Commissions in pips for eur/usd: 2 * 0,25 * 1.4180 = ~0.71 pips
  • #158
  • Aug 12, 2011 2:08am Aug 12, 2011 2:08am
Hi,

Would like to give Lmax a try.

What is the minimum account opening?
  • #159
  • Aug 18, 2011 12:53pm Aug 18, 2011 12:53pm
http://www.egrmagazine.com/news/1687...rst-year.thtml
  • #160
  • Aug 19, 2011 5:14pm Aug 19, 2011 5:14pm
Quoting shrike
No, it was monday evening (uk time). Look at the lmax chart, you can see missing data for the period in question.

Commissions in pips for eur/usd: 2 * 0,25 * 1.4180 = ~0.71 pips
Thanks. That's per contract and I believe they do charge it twice (when closing and opening a position)
I found a penny today. That's +100 pips for me.
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