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LMAX = revolution?!?

  • #641
  • Feb 8, 2012 11:22am Feb 8, 2012 11:22am
Quoting nuclearoptio
Armada Markets has rollover swaps. On black and white here: http://www.armadamarkets.com/fx-trad...g-instruments/
We can move on now.
sure, now that they changed it.... google cache doesn't lie

http://webcache.googleusercontent.co...g-instruments/
I'm not insane; my mother had me tested.
  • #642
  • Feb 9, 2012 7:29am Feb 9, 2012 7:29am
Quoting trader65
That's correct.

Thanks for the intelligence, makes LMAX very competative again. I've just hooked up. Works a treat.
  • #643
  • Feb 9, 2012 10:56am Feb 9, 2012 10:56am
Quoting Karl_Vosp
This is the most peculiar non-explanation I ever heard from the so called broker



Sure there is a catch. They are not lending for free. They simply aren't lending at all. Traders at LMAX / Aramada or what's their name play video game, not real spot fx.

Don't you fellow traders think there are too many LMAX / Armada shills in this thread?
100% agree. This is not the real spot fx, it has never been. Go with Currenex classic or Marexfx if you want to trade spot or just try it with micro currency futures on the CBOT. Currenex Viking for the small trader and the "last look"-function for the banks.

Just try it with any other MT4 broker and you will loose your money. Why?
The direction does not matter they will move the market against you until you receive a margin call. You are not anonymous.

The bad thing about such boards: there are always members who work as affiliates for different brokers. They earn money with a market maker, but not with trading.

Rock on, guys

And be clever.
  • #644
  • Feb 9, 2012 11:00am Feb 9, 2012 11:00am
Just an another broker in an ocean of MT4-brokers. But not the real spot fx. Go to Marexfx or ICAP and ask the guys if you can trade microlots with them.
  • #645
  • Feb 9, 2012 12:41pm Feb 9, 2012 12:41pm
It kinda is unfortunately. Too many are too dependent on MT4 hence the tendency of these retail brökers.

Anyway, I spoke to them too, asking whether they provide an API access that they're not mentioning in their website. They said they don't but they're going to. The agent I spoke to said he believes it should be available in about a week or so. Said it will be available on their website but he also took my email address and promised to let me know as soon as it becomes available. That was nice.

So yeah, this bröker is on my watch list and I might be testing it once they provide the API. But I won't be interested if it remains an MT4 only bröker.
  • #646
  • Feb 9, 2012 12:44pm Feb 9, 2012 12:44pm
Quoting 666
100% agree. This is not the real spot fx, it has never been. Go with Currenex classic or Marexfx if you want to trade spot or just try it with micro currency futures on the CBOT. Currenex Viking for the small trader and the "last look"-function for the banks.

Just try it with any other MT4 broker and you will loose your money. Why?
The direction does not matter they will move the market against you until you receive a margin call. You are not anonymous.

The bad thing about such boards: there are always members who work as affiliates...
Not tbe real spot ....lol ....you got to be kidding....the same big banks are providing liquidity
  • #647
  • Edited 2:05pm Feb 9, 2012 1:36pm | Edited 2:05pm
I can't and never could stand the MT platform. I've traded with many brokers, so called ecn (remember the recent ruling that forex styled ecn brokers can no longer use the term 'ecn', hence the name changes to exn etc). They are not a crossing network that is impartial and merely routes orders to dealing desks. They are price aggregators and 'poolers' of dealing desk liquidity. The dealing desks do business with them not with us and our 30K peanuts. I remember years ago trading with Interactive brk'rs and my fx trades actually being ascribed to banks such as ubs or commonly dbank. Now IB pool this liquidity and it has become 'IB FX'. MT 4 was designed for this MM model.

The only true exchange I know of where there is counterparty inpartiality is Lmax. You trade with an open order book and the transactions are instant and unbiased. I can see how many US folks here are pissed off that they cannot access such a great retail venue and get 100x leverage but that's tough. For those who can I'd say just f'kin try it and see for yourself. You really can trade the news with these guys and take advantage of price volatility. Where else in spot fx can you do that?
  • #648
  • Feb 9, 2012 1:50pm Feb 9, 2012 1:50pm
Quoting Cocoflanel
Not tbe real spot ....lol ....you got to be kidding....the same big banks are providing liquidity
You are right, but you can`t profit from the liquidity. You are just cannon fodder. Because your orders, your margin level, your SL, that is visible to your MT4-bucket shop.

I cannot speak about LMAX, never traded with them. But a MT4-broker, offering micro lots...come on, stop kiddin`
  • #649
  • Feb 9, 2012 3:16pm Feb 9, 2012 3:16pm
Quoting Takisd
They meet up and their trades get matched?

Sounds like a bucketshop. Matching clients with clients.... Not taking liquidity from various sources, just local liquidity. Fills will be a huge issue.
hardly a bucketshop, this is an fsa regulated company.
  • #650
  • Feb 12, 2012 5:15pm Feb 12, 2012 5:15pm
LMAX weird this morning, only opening right now (23.15GMT) and with a 6 pip spread, looks like there are only a couple of liquidity providers

decided not to open before Greek austerity vote i suppose....
  • #651
  • Feb 12, 2012 5:20pm Feb 12, 2012 5:20pm
WTF happened to the liquidity? lol
Attached Image (click to enlarge)
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  • #652
  • Edited 8:37pm Feb 12, 2012 8:25pm | Edited 8:37pm
Quoting havaiana
WTF happened to the liquidity? lol
If you ever have two brokers and one of them does this crud... Arb the crap out of them by acting like a market maker and tightening the spreads yourself.

You'll have to write a script to do this, as the market would move too fast to do it by hand.

But the idea would be to sit 0.1 fraction of a pip tighter on the bid and offer at the same time and when one side gets hit (NOT CROSSED, but someone on the ECN actually market orders into your limit, so this has to be on an exchange where you participate in adding liquidity,) hedge with broker #2 by taking the opposite position at the tighter spread, thus capturing the difference in spread.

Once again, you'd have to do this with an automated script since the market doesn't usually sit still for very long and you can't type in orders fast enough to cover off the risk.

LMAX messed up, and since it's not "normal" there won't be any other HFTs arb'ing it to make up the difference, so if you had a system ready to go for this sorta thing it would have been easy money acting as a market maker within their widened spreads.

You could even go one step further, if LMAX had enough volume coming through, and capture much more of the spread by taking on a bit of-on balance market risk. Cut out the 2nd broker and just let the position close out by keeping the order on the other side of the spread open till someone market order's into that side of your trade and makes you flat. You'd net the entire spread that way but risk the market moving too far away from your entry before someone finally hits you.

This is a play straight out of the equities world I live in during the day.
FXGears.com
  • #653
  • Feb 13, 2012 7:16am Feb 13, 2012 7:16am
Quoting Jack_Larkin
you'd have to do this with an automated script
He'd also probably need his computer/vps to be situated as close as possible to the LMAX servers for HF arb'ing to be effective.

Just thought I'd add this as he is in Australia according to his profile.
  • #654
  • Feb 13, 2012 2:01pm Feb 13, 2012 2:01pm
Looks like min. deposit is $10K now. Guessing they want the smalltimers to go through Armada or Fastbrokers.
  • #655
  • Feb 13, 2012 3:01pm Feb 13, 2012 3:01pm
Quoting shrike
Looks like min. deposit is $10K now. Guessing they want the smalltimers to go through Armada or Fastbrokers.
Of the three, the best one right now seems to be fastbrokers IMO.

Nice API that is still free, nice platform, futures data available, etc.

I'm seriously tempted to switch with them to give em a try.
  • #656
  • Feb 13, 2012 3:03pm Feb 13, 2012 3:03pm
Are the spreads on Armada Markets website identical to LMAX spreads?
  • #657
  • Feb 13, 2012 3:07pm Feb 13, 2012 3:07pm
Quoting evely
Are the spreads on Armada Markets website identical to LMAX spreads?
Yes.

same liquidity = same spreads

Just different commission.
  • #658
  • Feb 13, 2012 4:05pm Feb 13, 2012 4:05pm
Quoting Bleek
What exactly constitutes the perfect broker or are you guys looking for something that simply doesn't exist?

I make money with bucket shops, I make money with 'ECNs' I make money with Currenex.

What's that they say about a poor tradesman blaming his tools...
I have to agree with this statement to be honest. All I need from a broker is one where I can be in and out of a Market with certainty, and (relatively) quickly. I need low spreads over 6 to 8 pairs. Sure the mt4 platform is not perfect, but it is robust and it has some advantages over the other platforms I have used that suit me and my trading (and not eas, custom scripts etc).

Lmax or armada may therefore be suitable, although at present I have only demoed.
  • #659
  • Feb 14, 2012 2:24am Feb 14, 2012 2:24am
Quoting Marv
Of the three, the best one right now seems to be fastbrokers IMO.
Who is the third? Fastbroker, Armada and who is the third introducing broker to LMAX?
  • #660
  • Feb 14, 2012 3:26am Feb 14, 2012 3:26am
Quoting Afb
Who is the third? Fastbroker, Armada and who is the third introducing broker to LMAX?
LMAX. lol
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