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LMAX = revolution?!?

  • #1,001
  • May 30, 2012 8:05am May 30, 2012 8:05am
Quoting derwisch
Interesting posts. Just to get this right. There are spikes in the historic data. But just in the minute chart. Does the live data get drawn correctly?

@Trader131
Do you mean that just switching between the charts is slow or that there is a lag between pricefeed and priceupdate on the chart? What order excution from MC...fast or slow?
derwisch, just to clarify- I had these problems months ago, when it was still probably in beta, and wanted to know if it was better now. The lag was when I changed timeframes on a chart- it sometimes took a long time to update- a problem with their data feed I assume, as were the spikes. Order execution was great, I just couldn't live with the bugs. For all I know now, these problems might have been resolved in an update now.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #1,002
  • May 30, 2012 8:06am May 30, 2012 8:06am
Yes, live data is fine.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #1,003
  • May 30, 2012 8:49am May 30, 2012 8:49am
Guys, don't you think LMAX have problems with data feed in general. Going through this thread you find that there're a lot of problems with MT4 data (but people blame PrimeXM bridge), there're problems with MC (but it was a while ago), there're problems with their own web platform (the recent spike we were evident of). So basically every LMAX's platform has problems with data. Probably it's about time to blame LMAX? Hope it isn't a sacred cow, isn't it?
  • #1,004
  • May 30, 2012 8:58am May 30, 2012 8:58am
Blame who ever you feel necessary to blame. I have pretty much zero problems with the webclient, altho i wasnt online during the recent spike. There was one problem with a 15 minute downtime or so months ago. In comparison with other firms, reliability is good. Can't comment on mt4 tho.
  • #1,005
  • May 30, 2012 9:02am May 30, 2012 9:02am
No, I disagree, and you make me regret coming on here and asking an honest question. LMAX is still a relatively new venture. MC and MT4 are recent additions and simply have just had teething problems. Their web platform is basic, but has been excellent for execution and reliability - OK there was one data spike recently that has been rectified to everyone's except LMAX's benefit. I'm pretty sure any early problems will be sorted over time. If you don't fancy it, then fine, go with someone else. If more problems occur I might change my mind, but I've been with them for 10 months now and am very happy with their speed of exection and reliability.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #1,006
  • May 30, 2012 9:18am May 30, 2012 9:18am
Quoting Trader131
No, I disagree, and you make me regret coming on here and asking an honest question. LMAX is still a relatively new venture. MC and MT4 are recent additions and simply have just had teething problems. Their web platform is basic, but has been excellent for execution and reliability - OK there was one data spike recently that has been rectified to everyone's except LMAX's benefit. I'm pretty sure any early problems will be sorted over time. If you don't fancy it, then fine, go with someone else. If more problems occur I might change my mind, but...
C'mon guys, you're so sensitive I didn't say they're unreliable. What I've just said is probably it's about time to speak to them regarding all these issues. I don't have live account with them yet. I need a corporate one and it takes time. So can't really be treated seriously by them. I know that no broker has zero issues and it's ok. I've been working in Deutsche Bank for a couple of years and believe me their in-house developed software is even clumsier
  • #1,007
  • May 30, 2012 9:43am May 30, 2012 9:43am
Can someone list some main idea about advantage/disadvantage of LMAX for beginners like me?

I have read many thread and seem LMAX is so good (may be I'm wrong ). I have plan to test some broker that provide LMAX. What broker can I try?
  • #1,008
  • Edited 10:59am May 30, 2012 10:42am | Edited 10:59am
I don't have any affiliation with LMAX or any of its IB's. Alot of people come onto the thread bitching about this or that. The bottom line is that you get instant execution and tight spreads. This, as any seasoned trader will tell you is not always the case in what can be a very shady industry. No broker can be perfect all of the time but it amazes me that some characters seem to gripe about nothing. I think alot of these don't even trade because in my (and many others) opinion, trading directly on LMAX or though one of it's IB's blows the competition out of the water, if all aspects of account features are taken into consideration. Bottom line for me and others who actually trade though, is that it is an exchange not a group of banks with a last look option having orders given them by a dodgy market maker who is out to profit from the order flow. The way that some 'traders' whine and bullshit is it any wonder that the industry hold such a low opinion of us collectively? Do some bloody research before you start bitching and understand how the industry works.

One for the 'Scalperholics':

Dear FX trader,
Armada is constantly developing and expanding. We wanted to share with you couple of recent developments, which will improve our trading conditions even further. In the coming months we will be also releasing new promotional campaigns that will make trading with us even more attractive.
Special Low Commission Day - 50% Off
Every month we will choose a day that will probably be the most volatile trading day of the month. At this day we will cut our commissions on Exchange accounts by 50%. So instead of paying 20 per million, on this day your commission will be 10 per million. So that scalpers, active traders and all other clients would be even more profitable.
In June the 50% commission cut will be effective on Friday, June 1 as US non-farm payrolls data will be released. So starting from 21:05 GMT on Thursday, May 31 until 21:00 GMT on Friday, June 1 the commission on all Exchange accounts will be 10 per million. Enjoy and spread the word as the more our clients trade the more benefits will be released in the future.

:-)
  • #1,009
  • May 30, 2012 11:06am May 30, 2012 11:06am
Quoting Jfk
I don't have any affiliation with LMAX or any of its IB's. Alot of people come onto the thread bitching about this or that. The bottom line is that you get instant execution and tight spreads. This, as any seasoned trader will tell you is not always the case in what can be a very shady industry. No broker can be perfect all of the time but it amazes me that some characters seem to gripe about nothing. I think alot of these don't even trade because in my (and many others) opinion, trading directly on LMAX or though one of it's IB's blows the competition...
First of all don't behave like a 2 years old child, mate. The fact you're toying with 1,500$ and proudly call yourself trader doesn't give you any legitimacy to offend anybody. People here are allowed to ask any question they want to ask and are allowed to be concerned about anything they want. Don't be sure you know more then me about this industry. Not everyone who is unsure about LMAX is noob and is trading via some bucketshop. You're not paid by LMAX, you have no affiliation with them. Great. Just calm down and stop pontificate people.
  • #1,010
  • May 30, 2012 11:23am May 30, 2012 11:23am
Okay, I'll stop pontificate
  • #1,011
  • May 30, 2012 12:07pm May 30, 2012 12:07pm
Quoting Jfk
Okay, I'll stop pontificate
That's great. Now when you're calm I'll tell you what are my concerns about LMAX. We know now that PrimeXM bridge is a problematic one. If we know it be sure that LMAX knew it from the very beginning. But they still provide clients with it directly and via their IBs. You'll probably tell me that they simply don't care about under capitalized retail clients focusing on more wealthy ones. But I'm not sure that there're a lot wealthy ones who are ready to open an account with them. There're a lot of real brokers for serious traders out here. From LCG to Newedge to name a few. The fact LMAX is ready to accept new clients who's going to deposit 10K USD only and the existence of microlots means that they are after small fish exactly as any other retail broker. So why did they mess with this PrimeXM bridge? Anyway, I'll ask all these questions once I went live with them.
  • #1,012
  • May 30, 2012 12:20pm May 30, 2012 12:20pm
Sorry to pontificate again, but why sign up with them, if they are not a 'real broker for serious traders' ? Just go with Newedge (good luck..) or LCG.
  • #1,013
  • May 30, 2012 12:28pm May 30, 2012 12:28pm
Quoting shrike
Sorry to pontificate again, but why sign up with them, if they are not a 'real broker for serious traders' ? Just go with Newedge (good luck..) or LCG.
I'll tell you why. I'm not a pro-trader with a couple of millions to deposit. I'm a "small fish" exactly like the majority of posters here. I know a bit about the market thanks to my work experience and professional traders who did explain a couple of things to me. But I can't see what's your problem? If I don't say that LMAX are the best broker ever I'm either stupid noob or professional trader who can trade with Newedge? That's funny.
  • #1,014
  • May 30, 2012 12:34pm May 30, 2012 12:34pm
liopro, just give them a go, mate. Then, when you have some experience of trading with/ through LMAX I'm sure we'd all be delighted to here from you.
  • #1,015
  • May 30, 2012 12:37pm May 30, 2012 12:37pm
Quoting Jfk
liopro, just give them a go, mate. Then, when you have some experience of trading with/ through LMAX I'm sure we'd all be delighted to here from you.
That's what I'm going to do. But it takes ages to open a corporate account. Not only with them but also with an other broker.
  • #1,016
  • May 30, 2012 12:39pm May 30, 2012 12:39pm
Quoting liopro
I'll tell you why. I'm not a pro-trader with a couple of millions to deposit. I'm a "small fish" exactly like the majority of posters here. I know a bit about the market thanks to my work experience and professional traders who did explain a couple of things to me. But I can't see what's your problem? If I don't say that LMAX are the best broker ever I'm either stupid noob or professional trader who can trade with Newedge? That's funny.
I dont have a problem. Just asking..
  • #1,017
  • May 30, 2012 12:39pm May 30, 2012 12:39pm
Quoting liopro
Guys, don't you think LMAX have problems with data feed in general. Going through this thread you find that there're a lot of problems with MT4 data (but people blame PrimeXM bridge), there're problems with MC (but it was a while ago), there're problems with their own web platform (the recent spike we were evident of). So basically every LMAX's platform has problems with data. Probably it's about time to blame LMAX? Hope it isn't a sacred cow, isn't it?
Just for the sake of clarity, Pathfinder Trader from Fastbrokers does not uses bridges as it features a direct connection to their API, so orders are directly routed to their MTF with no delays or further hops. As for the data, they collect their own from LMAX. Most of the issues with data you have been reporting in these posts with other platforms are not happening on this platform.
  • #1,018
  • May 30, 2012 12:55pm May 30, 2012 12:55pm
I'd never rely on a single data source. One of the best was eSignal and their GTIS feed. MB Trading is good (although I'd prefer not to execute through them). Interactive Brokers is good for execution but a pretty poor feed/ charting deal. FXCM is fine if you are a swinger, likewise Oanda. I use Ninja/CQG because I want CME data. I like to see 1500 contracts going through on a 1 min chart as well as the value of accurate exchange based PP, Res 1, Supp 1 globex H/L etc, etc, as well as all the valuable price profile data from a big volume data source. Cross reference this with LMAX and It's a nice combination. Works for me.
  • #1,019
  • May 30, 2012 1:11pm May 30, 2012 1:11pm
- As Jfk said, an experienced trader will know that what really matters the most is liquidity and execution, not platforms or what social class the bröker should be targeting.

- Having said that, there is nothing wrong with allowing microlots and accepting small traders. A good bröker will seek to accommodate everybody, big or small, especially with this economy. Unless of course you prefer if Forex remained a private poker game for the elite bankers, that mentality is not something I personally welcome. I'm with decreasing restrictions, treating participants equally and anonymously, providing platform options for all kinds of traders, providing a free API (i.e. platform non-dependency), allowing market making, scalping, HFT, etc. All while maintaining the liquidity/execution standards of an institutional environment.

- LMAX is one of the extremely few brökers that seem to have that philosophy, but it fails to pursue it entirely with their new dumb and counterproductive account structure. But the idea is still there and allowing these new IB's is compensating for LMAX account structure, especially if said IB's are not planning on being 100% MT4-dependent (i.e. ignoring institutional clients or clients seeking institutional execution standards).

- The MT4 bridge is just an option provided for those who can't live without MT4 and keep nagging about it (probably a temporary solution as they don't even own it, and seem to have plans for developing their own bridge). Don't like it, don't use it. MT4 is outdated crap anyway. I'd avoid it (for serious order entry) even if it had zero glitches. But I don't see the point of complaining about the mere fact of them providing an MT4 bridge when you have all these other options (proprietary platform + 3rd party charting package + API).

- Glitches happen. The frequency and severity of problems I've seen so far (MT4 bridge-related or not) are nothing to whine much about. But improvement is expected, especially with Multicharts and the proprietary platforms.

Just my opinion.
  • #1,020
  • May 30, 2012 1:34pm May 30, 2012 1:34pm
Marv has spoken with wisdom, as per usual. But let's take a wee look at what similiar offerings require. Newedge, Vcap, LCG, Marex etc, etc. They all require shedloads of cash just to get access to their wonderful platforms. Even old IB now require 10K to get started. The spreads on LMAX (eur/usd) have been great today (usually 0.2-0.6) and every trade I've made has been instant. It's a simple fact that you cannot get this service anywhere else, especially given the current market nervousness/ volatility. No other VENUE for spot trading for the RETAIL trader compares, in my opinion.
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