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LMAX = revolution?!?

  • #861
  • May 24, 2012 11:34am May 24, 2012 11:34am
Quoting m.m.m.
Trading via mt4 is more expensive that via lmax's web interface.

They also charge extra for trading via api.

This is what I hate about lmax: thier inconsitent (stupid) policy. It does not make sense to me to tax different trading venues differently. They seem to not to want clients, but, otoh, they desperately need clients..
I think you have your facts wrong...

There is no charge to trade via API with LMAX, but you need to have an account of a certain size.

And trading on the LMAX proprietary platform is cheaper than trading on MT4, as LMAX are an STP broker and use PrimeXM's bridge to hook up the MT4 platform to the liquidity in the LMAX exchange. There is an extra cost for this, that LMAX is passing on to clients.
  • #862
  • May 24, 2012 11:51am May 24, 2012 11:51am
Quoting Mtf
I think you have your facts wrong...
Not really. I fail to see how a bigger account size would make api trading more worthwhile for them; they have to maintain api trading facillities anyway. Also, they are paid with the commission, and that should be it. Now, if I cannot trade via api, I won't - one client less. Their mt4 commission is higher than most, again, no clients here. So, what do they want? Clients? Well, than, I'm affraid, they have a lot to learn still.
  • #863
  • May 24, 2012 11:58am May 24, 2012 11:58am
Quoting m.m.m.
Trading via mt4 is more expensive that via lmax's web interface.

They also charge extra for trading via api.

This is what I hate about lmax: thier inconsitent (stupid) policy. It does not make sense to me to tax different trading venues differently. They seem to not to want clients, but, otoh, they desperately need clients..
So what's the reason trading with them? Pepperstone for example offers the same spreads but their comms are 7$ rt.
  • #864
  • May 24, 2012 12:01pm May 24, 2012 12:01pm
Because I am only interested in api trading; no crappy mt4, no crappy web interface. Besides that, pepperstone is like at the end of the world, as my ass is currently sitting in the lands of the germans.
  • #865
  • Edited May 25, 2012 9:16am May 24, 2012 12:18pm | Edited May 25, 2012 9:16am
Quoting liopro
Two things. There's kind of discrepancy there. On their home page they say: 0.25$ comm. On the account type page they say 7.80$ per round turn.
Secondly, y-day I've received the following ad:
"Be one of the first to experience trading on MetaTrader4 with the only true Forex Exchange available to retail clients - The LMAX Exchange. MetaTrader4, along with the standard LMAX web trader, is only available to LMAX Live account holders.

If you open an LMAX account directly from the Application Form links in this email then you can also benefit...
correct mail from IB
"On the platform Web Client commision are same as LMAX - $25 per $1million traded. You have a lower minimum deposit of $ 1,000.
The account is opened on LMAX so orders go directly to LMAX Exchange.
Yes, there is option to choose trading platform during the registration account."


Regards,

Paul Kochanowski
Account Manager

--------------------------------------------
PK Investment Services Ltd.
220 C Blythe Rd
London W14 0HH, United Kingdom
tel. kom. +48798 157 956
e-mail: [email protected]
www.fxmtf.com "

so, comission for 1 lot Armada at Prime Bridge Mt4 is = 5
for IB -PKIS MT4 =7.80
Lmax Web= 2,5????

Am i wrong ?
  • #866
  • May 24, 2012 12:46pm May 24, 2012 12:46pm
I started trading MT4 via Armada Markets today, took a nice trade on EU. I am a bit dissapointed to be honest, the market execution closing out the trade seemed to take forever to close out. It's only the first trade so I will take another 60 at least to fully evaluate their offering. Also I notice that they charged not a USD$2 commission but £2 GBP commission AND 1 pip spread on 0.5 Lot. Will keep on testing.
Tracking the Specialists.
  • #867
  • May 24, 2012 2:43pm May 24, 2012 2:43pm
It seems that the email I've received is from LMAX itself. It's a kind of promotion. They say nothing about commissions though. 7.80$ per RT was offered by FXMTF.
  • #868
  • May 25, 2012 1:38am May 25, 2012 1:38am
Quoting Connected
I started trading MT4 via Armada Markets today, took a nice trade on EU. I am a bit dissapointed to be honest, the market execution closing out the trade seemed to take forever to close out. It's only the first trade so I will take another 60 at least to fully evaluate their offering. Also I notice that they charged not a USD$2 commission but £2 GBP commission AND 1 pip spread on 0.5 Lot. Will keep on testing.
approximately how long did it take to execute and did they have slippage?
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #869
  • May 25, 2012 2:18am May 25, 2012 2:18am
two trades now, both very slow market execution short orders on GU during relatively liquid period, 6-7 second each time for order to execute. Slight slippage with this also I will pay more attention to the slippage next trade, I was taken aback by the slow execution, is there somewhere in the MT4 records I can analyse the quote data/execution order log?

Quoting pemully
approximately how long did it take to execute and did they have slippage?
Tracking the Specialists.
  • #870
  • May 25, 2012 2:21am May 25, 2012 2:21am
Quoting Marv
Yeah that's my point. Nothing new/impressive.

But more IB's = more competition = good. So hopefully we'll be seeing more of them (we probably will).

I realize I wasn't a huge fan of LMAX initially, but with the liquidity and spreads getting this good and with decent IB's starting to appear (so we're not stuck with the original bröker's conditions), I have changed my mind.

This exchange is a huge addition to the retail FX bröker market. You've been right about that.
Come on, nothing impressive ??


They have a minimum deposit that is 10 times lower than LMAX only 1000 dollars....that is the difference for most people to be able to open an account and not..

This is the ONLY broker,EXCHANGE that CAN'T SCREW YOU ....and still so people have doubts....
  • #871
  • May 25, 2012 2:32am May 25, 2012 2:32am
I spoke to Armada Markets live chat last night and mentioned the slow execution I had experienced, they told me 'Thats impossible, we have had only one complaint in 2012'
Tracking the Specialists.
  • #872
  • May 25, 2012 3:36am May 25, 2012 3:36am
Quoting Cocoflanel
Come on, nothing impressive ??


They have a minimum deposit that is 10 times lower than LMAX only 1000 dollars....that is the difference for most people to be able to open an account and not..

This is the ONLY broker,EXCHANGE that CAN'T SCREW YOU ....and still so people have doubts....
You know, I've been thinking about opening an account with LMAX but when I face such an aggressive and dilettante marketing not only on their website but also here on this board.... it just makes me sick. C'mon folks,give us some respect. It won't hurt you.
  • #873
  • May 25, 2012 4:34am May 25, 2012 4:34am
Quoting przem81621
mail from IB
"On the platform Web Client fees are the same as the Lmax or $ 25 per $ 1 million turnover. You have a lower minimum deposit of $ 1,000.
The bill is founded on Lmax so orders go directly to Lmax Exchange.
Yes, there is the option to choose the trading platform during the registration bill.


Regards,

Paul Kochanowski
Account Manager

--------------------------------------------
CP Investment Services Ltd
220 C Blythe Rd
London W14 0HH, United Kingdom
Mobile: +48798 157 956
email: [email protected]...
No you are not wrong - these are the commissions, BUT:
- LMAX's commission is quoted half-turn, and is not 2,5. LMAX charge 0.0025% on the nominal amount of the trade.
- On LMAX's MT4, the commission charged per lot is for the round turn, and is based on 1 lot EURUSD. That is USD 126,000 apprx. Multiply that by the 0.0025% (which is the $25 per $1 Mil traded) and you get $3.15 half-turn. Times 2, its $6.30, and the rest is the bridge costs.
  • #874
  • May 25, 2012 4:44am May 25, 2012 4:44am
Quoting liopro
You know, I've been thinking about opening an account with LMAX but when I face such an aggressive and dilettante marketing not only on their website but also here on this board.... it just makes me sick. C'mon folks,give us some respect. It won't hurt you.
Please stay with your bucketshop broker,lmax doesn't need your liquidity.......let's have some respect for the ignorant,gullible noobs....lol
  • #875
  • May 25, 2012 4:48am May 25, 2012 4:48am
Quoting Cocoflanel
Please stay with your bucketshop broker,lmax doesn't need your liquidity.......let's have some respect for the ignorant,gullible noobs....lol
It's strange that LMAX prefers to pay such a rude and inadequate individual instead of hiring professional sales people. Is it money saving policy or what?
  • #876
  • May 25, 2012 5:38am May 25, 2012 5:38am
Quoting liopro
It's strange that LMAX prefers to pay such a rude and inadequate individual instead of hiring professional sales people. Is it money saving policy or what?
I don't work for lmax, can you live with that truth? ......now get a trading life...
  • #877
  • May 25, 2012 5:51am May 25, 2012 5:51am
Quoting Cocoflanel
I don't work for lmax, can you live with that truth? ......now get a trading life...
Yeah, mate. You don't work for them. You just promote them for free. Pretty altruistic move I would say :-) BTW, I can live with it no matter what you're doing for living. Just respect people, don't be rude and everyone will love you
  • #878
  • May 25, 2012 6:02am May 25, 2012 6:02am
I have some concerns regarding Armada Markets.

They offer microlots but the smallest amount which can be placed on LMAX is a minilot. That means that Armada can't route small orders straight to LMAX and have to accumulate small orders. Hopefully they hedge then but who really knows if they just hold positions against their clients? And then the next question is: if they hold positions against the small accounts, how can you know they won't do the same with larger orders?


Also offering a leverage of 1:500 only for small accounts seem to me that they are going for the small money and inexperienced traders. Overleveraging is a common reason why traders fail.


Another thing is that at the beginning they even didn't charge Swap costs. Just when people started questioning here on the forum suddenly they added swap costs. This leaves one wonder and really they should have noticed earlier by themselves and its just another hint.


I don't want to bash a company here. But I think common sense is advisable. Since they lack a well established regulation you really must trust this broker.
  • #879
  • May 25, 2012 6:19am May 25, 2012 6:19am
Hey guys. I don't know coco but can understand his enthusiasm for LMAX. I'm not paid by them either, but am very happy with the speed of execution and service using their web platform. I can't speak for MT4 as I haven't tried it yet. I suppose it's just unusual for to have positivity about a broker...
There is no top. There are always further heights to reach. Jascha Heifetz
  • #880
  • May 25, 2012 6:46am May 25, 2012 6:46am
Quoting derwisch
I have some concerns regarding Armada Markets.

They offer microlots but the smallest amount which can be placed on LMAX is a minilot.
Actually that is not correct. LMAX's minimum trade size is 1,000 units (i.e. a micro-lot).
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