LMAX = revolution?!? | Page 28 | Forex Factory

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LMAX = revolution?!?

  • #541
  • Dec 9, 2011 11:09am Dec 9, 2011 11:09am
Does ant one know a broker providing GMT+3 server timing at present?
FxPro, Fxcm don't provide GMT+3 time.Reply
  • #542
  • Dec 9, 2011 12:15pm Dec 9, 2011 12:15pm
Want to log in to their demo using the browser; however I can't find the link anymore. Also can't find it on the website.

Could anyone provide the demo link? Thanks
Forex is a losers game.
  • #543
  • Dec 9, 2011 12:19pm Dec 9, 2011 12:19pm
Quoting trader121
Want to log in to their demo using the browser; however I can't find the link anymore. Also can't find it on the website.

Could anyone provide the demo link? Thanks
https://testapi.lmaxtrader.com/#login
  • #544
  • Dec 10, 2011 1:37pm Dec 10, 2011 1:37pm
Big improvement on the website. Thought it was a bit too 'black' before.

http://www.lmax.com/?ns_clid=google,...FVBTfAodpAmKSw
  • #545
  • Dec 11, 2011 12:46am Dec 11, 2011 12:46am
Wait, does this mean the min deposit is now $5,000 and the API is now free for only one month unless you deposit $50,000?

I knew this was too good to last. lol
  • #546
  • Dec 11, 2011 3:44am Dec 11, 2011 3:44am
Quoting Marv
Wait, does this mean the min deposit is now $5,000 and the API is now free for only one month unless you deposit $50,000?

I knew this was too good to last. lol
Min is now £1000. You need to deposit £5000 and trade 250 lots/month to qualify for MC. Pretty reasonable really. Even £40/ month isn't bad if you pay. Who else can offer great charting/ order entry/ speed etc for this?
  • #547
  • Dec 11, 2011 8:33am Dec 11, 2011 8:33am
It says $1,000, so that's more like £650 i.e. very close to the magic £500 number that many other brokers require.
"I made all my money by selling too soon"
  • #548
  • Dec 11, 2011 11:48am Dec 11, 2011 11:48am
Quoting Bleek
It says $1,000, so that's more like £650 i.e. very close to the magic £500 number that many other brokers require.
Yes. Getting my currencies confused there!
  • #549
  • Dec 11, 2011 2:31pm Dec 11, 2011 2:31pm
Quoting Traderdesk
As I understand from this thread the execution of orders are very quick with very little slippage during most of the trading day (outside of volatile market events) which I like, but the commission is quite a bit higher then say Dukascopy where a trader can get it down to a more realistic 16$ per million vs LMAX which seems to average 67$.
$67? Its $25.
  • #550
  • Edited 3:04pm Dec 11, 2011 2:52pm | Edited 3:04pm
I'm pretty sure that at the time of my post (early on this morning) it said that the min deposit for the smallest "classic" account is $5,000. So they must have changed or fixed it.

Quote
Who else can offer great charting/ order entry/ speed etc for this?

Quite a few brökers such as Dukascopy and MBT, both providing a free API. If you're in the $50k area in terms of capital, there are even better deals.

LMAX's API is no longer free. It is no longer an interesting bröker as far as I'm concerned. Just another bröker that doesn't treat its clients equally and uses the same old business strategies to get you to deposit as much money as possible in order to get more privileges and features that others don't get (not to mention the tighter country restrictions). Stuff like different limitations on orderbook depth and historic data access depending on account size is total BS.

But hey, as long as the website "looks" better, who cares about these new changes right?
  • #551
  • Dec 11, 2011 6:11pm Dec 11, 2011 6:11pm
It sounds like they want to keep the smalltime systemtraders confined to Metatrader.

I dont know, for me that doesnt change much. Generally i think things like marketdata, book-depth, API and so on should not be something that should be sold. Its not like they have an abundance of clients at the moment..

The only thing that i dont like is that they only have 2 LPs on their system (and only ~10M deep each side). Adding a few more would make the whole thing a lot more resilient.
  • #552
  • Dec 11, 2011 11:16pm Dec 11, 2011 11:16pm
Quoting shrike
$67? Its $25.
Looks like this weekend they changed their website and now the commission is shown to be $25. I hope that it is total cost per million(to open and close position).

I see that they have hired Steve Toland, former head of sales for Europe and North America for Icap's EBS platform to take over as the head of exchange strategy. Maybe that is part of the changes that we are seeing at the moment to improve their business strategy.

I was hoping to use them for trading directly off of the DOM(depth of market) using Multi-charts as I love scalping strategies but most are not profitable unless you have a broker who provides liquidity, execution speed, low commissions and nil slippage under normal market conditions. An exchange in the spot FX class is a great idea so let's see what happens here.

Does anyone currently use LMAX here at FF? What is your experience when it comes to liquidity and execution?

Thanks...
Traderdesk -
  • #553
  • Dec 12, 2011 1:47am Dec 12, 2011 1:47am
Quoting Traderdesk
Looks like this weekend they changed their website and now the commission is shown to be $25. I hope that it is total cost per million(to open and close position).

I see that they have hired Steve Toland, former head of sales for Europe and North America for Icap's EBS platform to take over as the head of exchange strategy. Maybe that is part of the changes that we are seeing at the moment to improve their business strategy.

I was hoping to use them for trading directly off of the DOM(depth of market) using Multi-charts as I love scalping...
The spread on aud/usd is averaging about 0.5 at the moment (7.30 am GMT). Execution is instant.
  • #554
  • Dec 12, 2011 1:48am Dec 12, 2011 1:48am
Quoting Marv
I'm pretty sure that at the time of my post (early on this morning) it said that the min deposit for the smallest "classic" account is $5,000. So they must have changed or fixed it.



Quite a few brökers such as Dukascopy and MBT, both providing a free API. If you're in the $50k area in terms of capital, there are even better deals.

LMAX's API is no longer free. It is no longer an interesting bröker as far as I'm concerned. Just another bröker that doesn't treat its clients equally and uses the same old business strategies to get you to...
Relax, marv. It's horses for courses. You pays your money and makes your choice. You get nothing for 'free' in this life though.
  • #555
  • Dec 12, 2011 4:46am Dec 12, 2011 4:46am
average execution speeds

http://www.lmax.com/execution-performance


NICE


Did they had SPX 500 before ?
  • #556
  • Edited 9:12am Dec 12, 2011 4:47am | Edited 9:12am
The new design is definitely an improvement.

What is not good, is that the API is not free now. The main problem with this, is that all the different APIs are inadequate—none of them implement the necessary functionality and historical data are unreliable.
In particular the Java and NET APIs. The fact that they do not understand this is embarrassing and shows the lack of the right understanding of what they are doing.
It is of course expensive to maintain four different APIs simultaneously. I.e. nobody needs the standard XML / JSON API, it was a mistake from the beginning.
They should have from the outset only offer Java or NET and FIX APIs, sufficiently implemented.
Well, all in all poor management..
  • #557
  • Dec 12, 2011 6:42am Dec 12, 2011 6:42am
Quoting Traderdesk
I see that they have hired Steve Toland, former head of sales for Europe and North America for Icap's EBS platform to take over as the head of exchange strategy. Maybe that is part of the changes that we are seeing at the moment to improve their business strategy.
Where have you read that? Do you know who the current CEO is?
  • #558
  • Dec 12, 2011 7:31am Dec 12, 2011 7:31am
Quoting shrike
Where have you read that? Do you know who the current CEO is?
FXWeek put it out last week, just google his name and you can get some direct links. Breon Corcoran is coming in as the new CEO of Betfair who owns LMAX...
Traderdesk -
  • #559
  • Dec 12, 2011 7:39am Dec 12, 2011 7:39am
LMax themselfs sacked their old CEO (Osmond) in April, but as far as i know have yet to announce a new one.
  • #560
  • Dec 12, 2011 7:59am Dec 12, 2011 7:59am
Quoting m.m.m.
Also, the lower commissions are an improvement.
.

How much lower went the commissions ?
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