LMAX = revolution?!? | Page 36 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

LMAX and Fastbrokers 20 replies

Anyone with Darwinex or LMAX? I had a little issue with AUDJPY 27 replies

LMAX? Anyone Trade With Them Here? 12 replies

Dukascopy vs LMAX - Has anyone tried either or both? 7 replies

Information about LMAX? 2 replies

Attachments: LMAX = revolution?!?
Exit Attachments

LMAX = revolution?!?

  • #701
  • Mar 15, 2012 8:41am Mar 15, 2012 8:41am
Quoting TradingGurus
Pardon? LMAX is an MTF, not an ECN.

The two are not identical.

Jim

Indeed, BIG DIFFERENCE , orders on an MTF HAVE to be executed , not on an ECN
  • #702
  • Mar 15, 2012 9:32am Mar 15, 2012 9:32am
Quoting Cocoflanel
orders on an MTF HAVE to be executed
Orders can, however, always be cancelled!
  • #703
  • Mar 15, 2012 10:56am Mar 15, 2012 10:56am
There are another MTF brokers same style than LMAX ?
  • #704
  • Mar 15, 2012 1:16pm Mar 15, 2012 1:16pm
Quoting surfeur
There are another MTF brokers same style than LMAX ?


NO, LMAX is the ONLY spot exchange inthe world
  • #705
  • Mar 16, 2012 6:01am Mar 16, 2012 6:01am
"We do not have ECN accounts because the new way is to trade through the regulated FX exchange that has a deeper liquidity, faster execution WITHOUT ANY REQUOTES and stricter rules for banks who provide liquidity. Professional traders know that ECN venues have a last look policy which means that during extreme volatility trades can be busted/cancelled even after confirmation. Our primary counterparty is LMAX exchange where BANKS ARE NOT ALLOWED TO CANCEL TRADES, give REQUOTES or widen spreads whenever they choose. LMAX guarantees execution at market prices, ECN-s do not. Our way is to let our clients trade at a regulated FX exchange in London. This is the new standard. This is our standard"

http://www.armadamarkets.com/fx-trading/account-types/
  • #706
  • Mar 18, 2012 2:35pm Mar 18, 2012 2:35pm
Any new information about the Metatrader application release?
  • #707
  • Mar 19, 2012 5:25am Mar 19, 2012 5:25am
Hi LFN,

Quoting LFN
Any new information about the Metatrader application release?
Well, I've tried it and at first glance it works OK (as well as MetaTrader ever works that is!). What more can I tell you?

Cheers,

Jim
  • #708
  • Mar 19, 2012 5:29am Mar 19, 2012 5:29am
Quoting LFN
Any new information about the Metatrader application release?
You can trade the L-Max feed on MT4 via Armada Markets...
  • #709
  • Mar 19, 2012 6:19am Mar 19, 2012 6:19am
Quoting TradingGurus
Hi LFN,



Well, I've tried it and at first glance it works OK (as well as MetaTrader ever works that is!). What more can I tell you?

Cheers,

Jim
Did you get some invitation to try it? Is it released for everybody to try it now?
  • #710
  • Mar 19, 2012 7:05am Mar 19, 2012 7:05am
Hi LFN,

Quoting LFN
Did you get some invitation to try it? Is it released for everybody to try it now?
If you're an existing LMAX customer you could try asking nicely. At the risk of slapped wrists from the moderator, here's the full details:

http://trading-gurus.com/lmax-soft-launch-metatrader-4/

As any number of people seem happy to keep pointing out, there are places you can go that require less up front than LMAX themselves, should you wish to access their liquidity via MT4.

Cheers,

Jim
  • #711
  • Mar 29, 2012 6:00am Mar 29, 2012 6:00am
I've just been checking my statements, and it seems that lmax have started to subdivide their commisions on part lots, which is good news, especially those trading smaller positions. So you can now put on 0.1 lot on Aususd and be charged the princely sum of $0.03!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #712
  • Mar 29, 2012 6:21am Mar 29, 2012 6:21am
Quoting Trader131
I've just been checking my statements, and it seems that lmax have started to subdivide their commisions on part lots, which is good news, especially those trading smaller positions. So you can now put on 0.1 lot on Aususd and be charged the princely sum of $0.03!
if that is the case, i am starting to seriously consider them.
I'm not insane; my mother had me tested.
  • #713
  • Mar 29, 2012 7:17am Mar 29, 2012 7:17am
I don't think you can go far wrong. I've been very impressed with them. Miles better than my last broker, Alpari- I got fed up with their constant requotes
There is no top. There are always further heights to reach. Jascha Heifetz
  • #714
  • Mar 29, 2012 9:53am Mar 29, 2012 9:53am
Quoting Trader131
I don't think you can go far wrong. I've been very impressed with them. Miles better than my last broker, Alpari- I got fed up with their constant requotes

Hi Trader131,

Requotes have been around ever since markets were allowed to float and are a natural consequence of that.

If you are trading with the momentum of the market, and therefore by definition in the direction of least liquidity, then requotes are an inescapable fact of life that everyone has to deal with, from the busiest InterBank desks to the smallest retail trader.

The only current alternatives are DMA Pro accounts in which orders are sent on a Fill or Kill basis where although you can avoid requotes, the risk is not getting a trade in (or out) at your preferred price at all.


Alex

 ________
Alexander Chadwick
Alpari (UK) Representative
  • #715
  • Mar 29, 2012 9:57am Mar 29, 2012 9:57am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting Trader131
I've just been checking my statements, and it seems that lmax have started to subdivide their commisions on part lots, which is good news, especially those trading smaller positions. So you can now put on 0.1 lot on Aususd and be charged the princely sum of $0.03!
On LMAX a standart lot is 10.000 units of the underlying currency, equivalent to a MetaTrader "mini lot", means actually you trade 0.01 lot or in mt4 terms, a "micro lot", on AUSUSD. Thats why the commission is rounded up to $0.03. LMAX commission is 0.0025% but for smaller sums they round it up.
  • #716
  • Mar 29, 2012 10:27am Mar 29, 2012 10:27am
Quoting onu
On LMAX a standart lot is 10.000 units of the underlying currency, equivalent to a MetaTrader "mini lot", means actually you trade 0.01 lot or in mt4 terms, a "micro lot", on AUSUSD. Thats why the commission is rounded up to $0.03. LMAX commission is 0.0025% but for smaller sums they round it up.
Be careful - In the LMAX web gui 1 is a contract(10k) - in LMAX MT4, 1 is a lot (100k)- i went down that toilet and would not recommend it to others

I have been using it LIVE in (relative) anger for a few weeks

I have seen maybe 3-5 complete feed freezes that are independent of live/demo etc (complete pauses) but NONE in the last week since some changes were made in the server and its no longer been subject to occasional restart (This IS a limited access period remember - they are testing it before allowing general release so i am tolerant of teething problems)

I have seen 3-4 cases of price lagging 10-30 seconds behind other broker for periods of a few minutes - invariable around news times - it is very disconcerting. LMAX have told me they are working on this problem which is related to throttling the extreme price rates flows on the underlying LMAX platform to the far more limited Mt4 platform. I have not seen any this week. The explanation is consistent with symptoms as order execution at the time is still good .

Lets hope it stays this way

Receptive support staff - pleasure to deal with
  • #717
  • Mar 29, 2012 10:41am Mar 29, 2012 10:41am
Quoting Alpari UK
Hi Trader131,

Requotes have been around ever since markets were allowed to float and are a natural consequence of that.

If you are trading with the momentum of the market, and therefore by definition in the direction of least liquidity, then requotes are an inescapable fact of life that everyone has to deal with, from the busiest InterBank desks to the smallest retail trader....
With respect Alex, the requotes that I got from Alpari went beyond the pale and they were nothing to do with my connection. Since using Lmax apart from two minor incidents, in the last 8 months, the price you click on is the price you get filled at.

Thanks for clarifying the lot size, guys. I use the lmaxtrader web platform, so Onu is right about those figures ie minilots. My point was that those part contracts or minilots used to have a higher fixed price, but are now directly proportional to their lot commissions, so it's a fairer system now
There is no top. There are always further heights to reach. Jascha Heifetz
  • #718
  • Mar 29, 2012 10:46am Mar 29, 2012 10:46am
Quoting ianj1
Be careful - In the LMAX web gui 1 is a contract(10k) - in LMAX MT4, 1 is a lot (100k)- i went down that toilet and would not recommend it to others

I have been using it LIVE in (relative) anger for a few weeks

I have seen maybe 3-5 complete feed freezes that are independent of live/demo etc (complete pauses) but NONE in the last week since some changes were made in the server and its no longer been subject to occasional restart (This IS a limited access period remember - they are testing it before allowing general release so i am tolerant of...
Ian, I hope they sort it out for you on mt4, as I suffered the same teething problems with their multicharts platform, and gave up in the end going back to Lmaxtrader for execution. Please keep the thread updated with your feedback on their mt4 as I'd be interested in trying it out when it's more stable.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #719
  • Mar 29, 2012 11:36am Mar 29, 2012 11:36am
I noticed also that marketdepth got deeper than previously, in eur/usd atleast. Total depth now between 15-20 million each side. I assume they have brought in an additional liquidity provider.

Index CFDs are problematic tho. While spreads tighted to quite attrative levels, sometimes tighter than the underlying futures market, its seems like one or more LPs often stop quoting prices, or only make a one-sided market. Right now, there are no quotes on most indices at all. I wouldnt call that an orderly market. This needs to improve alot before i can take it seriously.

FX is good tho.
  • #720
  • Mar 30, 2012 12:05am Mar 30, 2012 12:05am
Quoting Trader131
Ian, I hope they sort it out for you on mt4, as I suffered the same teething problems with their multicharts platform, and gave up in the end going back to Lmaxtrader for execution. Please keep the thread updated with your feedback on their mt4 as I'd be interested in trying it out when it's more stable.
Looks like we are operating in reverse - i started on MT4 (I have a qualifying account n LIVE with them) and just started to look at MultiCharts - It didnt work on one Windoze 7 64bit but does work on my 2nd Windoze 7 64 bit (charts not updating) - am new to MultiCharts/Easy language and still getting lost in all the application options (trying to mix multi TF tick/candle charts) . If it resists too much i will just switch to programming against the API directly

Am still using and will continue to use MT4 - no problems this week as i said and i think they are planning on upgrading the MT4 platform when they get it running stable and decide to roll it out generally - i believe its not been scaled up yet, but i have no performance problems right now
2 traders viewing now