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LMAX = revolution?!?

  • #801
  • Apr 27, 2012 6:45am Apr 27, 2012 6:45am
Hi rooicol,

Quoting rooicol
If i may ask, how do you keep a log of L-Max's ticks
I use Java, not MQL4. Because of the amount of data I don't do it all day every day on every instrument.

Cheers,

Jim
  • #802
  • Apr 27, 2012 6:59am Apr 27, 2012 6:59am
Any one using LMAX with multicharts? Any issues?
We're all stories in the end. Just try to make it a good one.
  • #803
  • Apr 28, 2012 5:47am Apr 28, 2012 5:47am
Hi. Anyone knows where LMAX MT4 trading server is located?
Maybe even an IP number, so I can ping the latency from my VPS to see if it is suitable.
  • #804
  • Apr 28, 2012 7:58am Apr 28, 2012 7:58am
@Traderji - Yes and yes. I use the generic MultiCharts, not the LMAX specific version. I had some problems in v7 displaying daily bars. MC assure me it's fixed in v8.0 beta 2, although I haven't tested it personally yet.

@LFN - Yes. Try mtpro01.primexm.com [82.150.97.166].
  • #805
  • May 1, 2012 6:24am May 1, 2012 6:24am
Quoting TradingGurus
@Traderji - Yes and yes. I use the generic MultiCharts, not the LMAX specific version. I had some problems in v7 displaying daily bars. MC assure me it's fixed in v8.0 beta 2, although I haven't tested it personally yet.

Any chance you could give it a test with the 8.0 beta2? It's not a dealbreaker for me as I usually use H1 & H4 but would be nice to know.

Also what is their execution like during news? Thanks in advance.
We're all stories in the end. Just try to make it a good one.
  • #806
  • May 1, 2012 11:13am May 1, 2012 11:13am
Comparing them with 2 other brokers I use, they are quite all right during the news - haven't had any trades rejected, the spread though was not as tight as it usually is. But it was not so bad and to be honest, and it was somewhat expected that it would widen..

Latency-wise, they claim to execute trades on their web trading platform in 3 milliseconds, but on their MT4 its a few milliseconds slower as it goes through their MT4 server..

Multicharts should be as quick as their web platform, but as it requires a very powerful computer and takes up a lot of memory, it can sometimes appear to be sluggish - it has been recommended that I close the application and relaunch it as often as possible, and not run many other applications on the computer.
  • #807
  • May 2, 2012 7:29pm May 2, 2012 7:29pm
Quoting LFN
Hi. Anyone knows where LMAX MT4 trading server is located?
Maybe even an IP number, so I can ping the latency from my VPS to see if it is suitable.
I have been looking at LMAX but havent taken the plunge as i'm quite happy with my current broker so will take me a bit to move, but I think the MT4 servers are based in UK and Switzerland
  • #808
  • May 3, 2012 1:15am May 3, 2012 1:15am
Quoting ricko456
I have been looking at LMAX but havent taken the plunge as i'm quite happy with my current broker so will take me a bit to move, but I think the MT4 servers are based in UK and Switzerland
London - Equinix data centre
Server: live.mt4exchange.com

Its the same server (and IP) as Trading Gurus Quoted earlier - PrimeXM are hosting the MT4 service for them, at the moment
  • #809
  • May 9, 2012 1:39pm May 9, 2012 1:39pm
New partner with LMAX. They state LMAX is their liquidity provider:

http://www.rvdmarkets.com/broker/about/

All good news for us lmax boys and gals.
  • #810
  • May 9, 2012 2:19pm May 9, 2012 2:19pm
British Virgin Islands? LMAX certainly isn't picky with their parnters..
  • #811
  • Edited 3:37pm May 9, 2012 2:24pm | Edited 3:37pm
Here is my 2 cents for now about Lmax and Fast Brokers, which I signed up with

Both companies have excellent service so far and live chat which I find very useful

I am unfortunately using MT4 for now, this was my own choice, and I did not know that the CFD's from Lmax were NOT available in MT4. I will switch to Pathfinder likely for trading in about a month, and keep my live and demo MT4 accounts also for other reasons (EA's, etc)

Execution seems a tad slow, likely due to bridged connection maybe not sure, could also be I am in Canada compared to the server, not sure. I have not done any ping tests or anything, it would seem when I click "sell" it takes almost a full second to confirm the order. Not horrible, but a little slow for scalping.

My biggest beef is how commissions are calculated. I see some companies do it one way, some the other. Here, we have commission NOT based on how many lots you are trading (Like Pepperstone) but on how much actual currency you are trading. This makes commission higher on anything over 1, which are most things I see on the feed. So for the Eur if you buy a standard lot, instead of commission being $2.50, its actually much higher since you have ~ 130K worth. This is also high for Spot Gold, which just came online today, I don't have all the details on this yet, but commish will be about $8.xx per round turn.

Other than that, so far I am happy overall, connection seems good etc. Edit, one other thing, no Trailing Stops which I sometimes use. If MB trading was accepting Canadians, I probably would have opened a pay for limit account, this is hard to beat imho, NO commish and spreads seem pretty decent (maybe a little higher) they have a ton of things to trade as well.
  • #812
  • May 9, 2012 2:46pm May 9, 2012 2:46pm
Quoting jayjonbeach
Here is my 2 cents for now about Lmax and Fast Brokers, which I signed up with

Both companies have excellent service so far and live chat which I find very useful

I am unfortunately using MT4 for now, this was my own choice, and I did not know that the CFD's from Lmax were NOT available in MT4. I will switch to Pathfinder likely for trading in about a month, and keep my live and demo MT4 accounts also for other reasons (EA's, etc)

Execution seems a tad slow, likely due to bridged connection maybe not sure, could also be I am in Canada...
Interesting Comments.

About execution speed, i'd be surprised if my script didn't reduce it to less than 500ms. However you won't be getting anything much lower than about 300 ms as it takes about 200ms for a signal to cross the atlantic. I'm in the UK, and MT4 order execution speed for me via Armada has a median of 140ms, see chart below. The chart shows market order execution speed for some recent trades (Live account, with an open authenticated session). The large values were when the MT4 authenticated session was closed.

About the commissions, they are a bit high with L-Max, but strangely they are lower with Armada. For 1 lot eurusd, the commission is €4, or 0.52 pips, instead of €5.

MB Trading are providing some very cheap trading conditions. I have live accounts with them (Free exn & Pay for limits), but for me here in the UK execution speed is too slow (~ 1050 ms), as they charge me to run my MT4 script for maintaining an open authenticated session so i didn't use it. Also, i just had a lot of really worrying problems with their MT4 such as not being able to modify or close trades, which occurred a few separate occasions. For now i'm happy with Armada's service
Attached Image (click to enlarge)
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  • #813
  • May 9, 2012 3:03pm May 9, 2012 3:03pm
JayJonBeach: commissions based on dollar-volume traded is rather standard in spot fx.

And wrt to CFDs: some of them have nice spreads, eps. DAX. But you need to be careful around news time. They sometimes stop quoting for a minute or so - this is not coming from the marketmakers but rather LMAX themselfs. They say its to protect clients from large spreads - which i find idiotic. I would take a wide market over no market at all anytime.
  • #814
  • May 9, 2012 3:12pm May 9, 2012 3:12pm
Quoting shrike
JayJonBeach: commissions based on dollar-volume traded is rather standard in spot fx.

And wrt to CFDs: some of them have nice spreads, eps. DAX. But you need to be careful around news time. They sometimes stop quoting for a minute or so - this is not coming from the marketmakers but rather LMAX themselfs. They say its to protect clients from large spreads - which i find idiotic. I would take a wide market over no market at all anytime.
Agreed on the standard bit, though Pepperstone charges by the lot and I think there are more.

That is very disappointing to here about the CFD's and news, that is pretty much manipulating the feed. Sure it's just shutting it off versus widening the spread etc but a feed is a feed, and it should be left alone or its not raw anymore.
  • #815
  • May 9, 2012 3:24pm May 9, 2012 3:24pm
Write them a mail about it, maybe if enough people complain they will change their position. They are convinced they are protecing their clients with this.
  • #816
  • May 9, 2012 3:35pm May 9, 2012 3:35pm
Quoting rooicol
About the commissions, they are a bit high with L-Max, but strangely they are lower with Armada. For 1 lot eurusd, the commission is €4, or 0.52 pips, instead of €5.

MB Trading are providing some very cheap trading conditions. I have live accounts with them (Free exn & Pay for limits), but for me here in the UK execution speed is too slow (~ 1050 ms), as they charge me to run my MT4 script for maintaining an open authenticated session so i didn't use it. Also, i just had a lot of really worrying problems with their MT4 such as not being able...
Interesting comments as well

I could be wrong but your commission might be lower for that pair because your account is in GBP, where mine is USD and it depends on the base currency for the pair (forgot to mention this. I was going to go with GBP, and will likely convert to it going forward) So I am paying $3.26 x 2 for round turn, and if converting I think yours works out to the same.

I should have probably specified this is only my first week trading with the Lmax feed and I am not a HF Scalper, mostly doing M5.

I will take a look at that script, and see if I can figure out how to turn it back into an EA (no skills here what-so-ever yet). A pity MB was going to charge you for it and the concerning are the issues you had on their MT4 as well.

Do I understand the script use correctly, that you will use it just before placing an order, or does it run in the background and constantly ping the server? (which I guess uses more BW?)

TIA
  • #817
  • May 9, 2012 3:36pm May 9, 2012 3:36pm
Quoting shrike
Write them a mail about it, maybe if enough people complain they will change their position. They are convinced they are protecing their clients with this.
Good idea. One other thing I forgot to mention, they don't have Trailing Stops which I thought was goofy. I think I have an EA that will work around this though, but something else people might want to put the big in their ear about
  • #818
  • May 9, 2012 4:27pm May 9, 2012 4:27pm
Quoting jayjonbeach
Interesting comments as well

I could be wrong but your commission might be lower for that pair because your account is in GBP, where mine is USD and it depends on the base currency for the pair (forgot to mention this. I was going to go with GBP, and will likely convert to it going forward) So I am paying $3.26 x 2 for round turn, and if converting I think yours works out to the same. ...
No, the commission fee is the same for everyone regardless of your account base currency. For one lot eurusd (100K) the commission fee is 0.0025% of this, so 0.000025*100,000 =2.5 EUR, round turn 5 EUR, regardless of your account currency. This 5 EUR is then converted into what ever ccy your account is in, so if your account is in USD then you are charged the USD equivalent of 5 EUR
  • #819
  • May 9, 2012 7:47pm May 9, 2012 7:47pm
Hi,

I'm a new member so can't make a new post. Hello all!

I have a natural skeptic/don't trust anyone sort of attitude so I'm not making any judgements. I'm just asking others like myself what I should do.

Most traders don't seem to know what a virtual dealer is and don't understand what a broker desk is so I dug deep to look for the most transparent brokers to chose from and came up with

-Lucror
-Universal FX
-IC Markets (affiliation with eToro raises red flags)
-ArmadaMarkets

While I'm a noob, I thought I was ask some questions so sorry if they sound noobish or uneducated. Here is the conversation I had.

-----

Please wait for a site operator to respond...
If you do not want to wait, please click here to leave us a message.
Operator Armada Markets Support has joined the chat.
Armada Markets Support18:52:25
Hello!
Visitor18:52:46
Hi! I downloaded a demo and had some questions
Armada Markets Support18:52:53
My name is Sareth. How can I help you?
Visitor18:53:50
I recieved PrimeXM FX as the MetaTrader platform and had questions about the SPT setup
Armada Markets Support18:54:48
what is SPT?
Visitor18:54:55
sorry hehe STP
18:55:07
STP/DMA
18:55:47
The method used to access LMAX exchange
Armada Markets Support18:56:42
We have both
Visitor18:58:13
I understand that you don't have a dealer desk, but I was curious if there is a virtual dealer you use to manipulate prices etc.
18:58:59
Or if there is anyone person and machine trading against the client even outside of Armana
19:00:03
*Armada
Armada Markets Support19:00:07
No we dont't, and never will, as there is no need in that.
Visitor19:00:40
Lots of people are talking about Armada markets on the forums and no one seems to know
Armada Markets Support19:00:46
All trades are fully hedged to LMAX, we collect only comm./markup
Visitor19:00:55
Everyone is skeptical
19:01:24
Does LMAX trade against clients on their end? Or if they do, you would have no knowledge of that
Armada Markets Support19:02:49
LMAX is just an Exchange, it's not their business.
19:03:29
I rarely doubt that anyone can "trade against" a couple of lots.
Visitor19:04:45
How much is commission on trades?
Armada Markets Support19:05:42
2 usd per mln on primeExchange account
19:06:22
sorry, pet LOT (100 000 units)
19:06:31
*per
Visitor19:07:20
Thanks.. Oh and how much are fees to deposit and withdraw money from account?
Armada Markets Support19:07:31
we do not charge anything. There are only bank's fees that apply.
Visitor19:08:16
Do you accept only wire transfer?
Armada Markets Support19:09:16
No, PayPal and the Moneybookers, too
Visitor19:10:07
Oh nice. How much to desposit/withdraw from paypal?
Armada Markets Support19:10:16
Sorry?
Visitor19:11:15
Like is there a free to deposit money from paypal? Like a $25 withdraw fee or deposit fee
Armada Markets Support19:11:26
PayPal charges 3.4% on all incoming payments from European Union countries plus €0.35 fixed fee per payment; an additional 1% charge is applied to payments originated from countries outside of European Union.
19:11:45
that's it
Visitor19:12:19
So you don't charge any fees ontop of any withdrawl and deposit?
19:12:33
It's just the Paypal or bank fees?
Armada Markets Support19:12:33
Absolutely
Visitor19:12:38
wow
Armada Markets Support19:12:40
we neved did
19:12:45
*never
Visitor19:13:16
Regarding slippage, how much slippage can I expect?
Armada Markets Support19:13:58
before several do not expect any slippage
19:14:26
above that - may occur during volatile market
19:14:37
*several lots
Visitor19:15:16
Are there every any service interuptions?
19:15:20
Like during news etc
19:15:26
Internet connection disconnects
Armada Markets Support19:15:49
No. Servers are restarted only during weekends
Visitor19:16:15
If there is a service interuption, It would be PrimeXM servers disconnecting?
19:16:26
(I'm in Canada so curious about latency and such)
Armada Markets Support19:17:22
If everything is down you can call us by phone and we will close/open desired positions manually
Visitor19:18:04
So you do have visibility to orders made?
Armada Markets Support19:18:32
Yes, we have
Visitor19:19:19
But you can't decide pricing for the orders and such?
19:19:41
Or trigger stop loses etc
Armada Markets Support19:20:05
No. ALL our prices are 100.00% the same as LMAX has
Visitor19:20:21
Ok that's what everyone want to know..
19:20:57
It's a concern right now about the back end, virtual dealer manipulation and such
19:21:19
Juts in general and everyone is looking for a broker that is direct market
19:21:48
So people were mentioning Armadamarkets
Armada Markets Support19:22:09
looks like we have to install one too, as it's soo popular )
Visitor19:22:28
Hehehe
Armada Markets Support19:23:07
Just compare our feed and LMAX's feed any time using any pair
19:23:23
it's identific
Visitor19:23:35
That's what people are saying..
Armada Markets Support19:24:26
Is there anything else I could help you with?
Visitor19:25:32
No you've been a great help. I'm looking for a broker and through weeks of research you seem to be what people are talking about as a legitamate broker
Armada Markets Support19:25:46
...then your search is over )
Visitor19:26:52
Yes true. I was looking at Lucror, Universal FX ECN
19:26:54
also
19:27:10
but yours seems to be the 1st place
19:27:58
Oh one last questoins, is there a minimum pip for stop loss?
Armada Markets Support19:28:12
you are welcome!
19:28:22
of course not
19:28:42
you can put it even within the spread
Visitor19:29:01
Wow thanks. And scalping is encouraged?
Armada Markets Support19:29:23
Absolutely - the bigger volumes - the better
Visitor19:30:10
Thanks again for the help.. Really appreciated. Have a good day.. (night over here)
Armada Markets Support19:30:30
Thanks ) Have a nice evening too!
  • #820
  • May 9, 2012 8:05pm May 9, 2012 8:05pm
Quoting rooicol
Interesting Comments.

About execution speed, i'd be surprised if my script didn't reduce it to less than 500ms. However you won't be getting anything much lower than about 300 ms as it takes about 200ms for a signal to cross the atlantic. I'm in the UK, and MT4 order execution speed for me via Armada has a median of 140ms, see chart below. The chart shows market order execution speed for some recent trades (Live account, with an open authenticated session). The large values were...
bro,how & when did u get this chart/tools of yours,to analysis the speed of your executions.does it works for EAs only or it works on market orders too? thanks!
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