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LMAX = revolution?!?

  • #1,161
  • Jun 16, 2012 5:43am Jun 16, 2012 5:43am
Hi Aeiou,

Quoting Aeiou
So LMAX. Aint. No Broker @ all ... Period !?!
My understanding is that LMAX is indeed a "broker", in part at least:

http://trading-gurus.com/lmax-is-a-p...-traders-only/

Quote
If ya coming up with CME or similar where u have to buy a seat. At approx 100k

There are a long list of other brokers who will be more than happy to let you trade CME currency futures after depositing less than 100k, or even less than 10k!?!

Cheers,

Jim
  • #1,162
  • Jun 16, 2012 10:16am Jun 16, 2012 10:16am
Quoting TradingGurus
Hi Aeiou,



My understanding is that LMAX is indeed a "broker", in part at least:

http://trading-gurus.com/lmax-is-a-p...-traders-only/



There are a long list of other brokers who will be more than happy to let you trade CME currency futures after depositing less than 100k, or even less than 10k!?!

Cheers,

Jim
The other poster was mixing up exchange membership with trading rights.

You don't need 100k to trade futures, but expect to spend 6+ figures if you want to buy a membership that allows you to trade there in person without the hefty commissions (less if you just want an electronic membership.)
FXGears.com
  • #1,163
  • Jun 16, 2012 12:35pm Jun 16, 2012 12:35pm
Quoting Jack_Larkin
The other poster was mixing up exchange membership with trading rights.

You don't need 100k to trade futures, but expect to spend 6+ figures if you want to buy a membership that allows you to trade there in person without the hefty commissions (less if you just want an electronic membership.)
Exactly Jack!
  • #1,164
  • Jun 17, 2012 2:21am Jun 17, 2012 2:21am
@Jack - Quite so.

@Aeiou - Thanks in part to your brevity and innovative use of punctuation I'm not clear exactly what you are saying. Is it:

1. "An account with LMAX is better than membership of the CME"
2. "An account with LMAX is as good as membership of the CME"
3. "An account with LMAX is the next best thing to membership of the CME, if you're strapped for cash"

or something else entirely?

Thanks in anticipation for any additional clarity you may be able to provide.

Jim
  • #1,165
  • Jun 18, 2012 1:28pm Jun 18, 2012 1:28pm
Hello,

this is a small update. I had a Armada classic account, deposited there around 100 $ just to give them a try.

I was playing a little bit around in the last weeks, profitable. I was short yesterday in eurusd.

The market went after market open at 23:00 o'clock GMT pip-exactly to my margin stop out level. I could bet if I had some micros less open the market would climb some pips more to reach my stop out level.

So conclusion: every MT4-broker is pure scam, with LMAX-feed or without. What is a broker worth for when you can only scalp and don't leave your position open without looking at your position like a hawk?

I am going next week to test a real currenex classic account, institutional size. If this will not work I will definetely say bye, bye to forex and stay strictly with my old, good patsystem platform on a regulated exchange.

Best regards,

666
  • #1,166
  • Jun 18, 2012 1:32pm Jun 18, 2012 1:32pm
Before some experts come now and say: why do you give them a try with micros?

Bescause I am cautious. This is the reason I am in this business for a very long time and also the reason for having the money for a Currenex classis account and not the scam-Viking-last-look-function-for-the-banks-scripting-forex-kiddie-bullshit.

Thanks.
  • #1,167
  • Jun 18, 2012 1:37pm Jun 18, 2012 1:37pm
Can you post the trade you were MC'd on?

Specifically, post the history record from your MT4, showing the open price, time, and close price / time.

We can compare to feeds from other brokers to see if it was anything fishy by Armada. I have the tick data captured from Sunday's open from Integral feed for example.
FXGears.com
  • #1,168
  • Jun 18, 2012 3:01pm Jun 18, 2012 3:01pm
And why were you using the classic account? You should be using the exchange account if you want raw LMAX access.

Last but not least, unless you can present proof of dodgy activity by the bröker, don't blame your trading failure on "forex". If you have an edge in this market, money can be made retail or institutional. If you don't it doesn't matter where you trade, retail, institutional, centralized exchange or not, the result will be the same.
  • #1,169
  • Jun 18, 2012 3:55pm Jun 18, 2012 3:55pm
Quoting Marv
And why were you using the classic account? You should be using the exchange account if you want raw LMAX access.

Last but not least, unless you can present proof of dodgy activity by the bröker, don't blame your trading failure on "forex". If you have an edge in this market, money can be made retail or institutional. If you don't it doesn't matter where you trade, retail, institutional, centralized exchange or not, the result will be the same.
Guy looks like paid basher or competition from the beginning, all his posts in this thread with no proof or substance what-so-ever
  • #1,170
  • Jun 18, 2012 4:24pm Jun 18, 2012 4:24pm
Quoting Jack_Larkin
Can you post the trade you were MC'd on?

Specifically, post the history record from your MT4, showing the open price, time, and close price / time.

We can compare to feeds from other brokers to see if it was anything fishy by Armada. I have the tick data captured from Sunday's open from Integral feed for example.
Hello, what do you expect do see? Only the small bucket shops somewhere on Costa Rica will do the obvious: spiking, plattform freezing etc.

The single trader is not so unique as you think. All eyes see the same and do the same.
It`s quite sophisticated. I am more talking about Aleri's Coral8 CEP, Apama’s Market Aggregation etc... and about monitoring and netting clients' order flows, betting against them via future markets and such things. But it's better to decide for yourself.
  • #1,171
  • Jun 18, 2012 4:29pm Jun 18, 2012 4:29pm
Quoting Marv
And why were you using the classic account? You should be using the exchange account if you want raw LMAX access.

Last but not least, unless you can present proof of dodgy activity by the bröker, don't blame your trading failure on "forex". If you have an edge in this market, money can be made retail or institutional. If you don't it doesn't matter where you trade, retail, institutional, centralized exchange or not, the result will be the same.
And how can I trust a company with such partners? Retail forex traders are doomed to fail. It's like a battle in the night. The institutionals have the night-vision device and you NOT. I am not speaking about LMAX here. I am speaking about the FX market and how the businness works. It's all about liquidity and everything below 1.000.000 Mio. which is the bank lot, is only lubricant for the institutionals.
  • #1,172
  • Jun 18, 2012 4:32pm Jun 18, 2012 4:32pm
We have never seen the tracking record from you, you su... sorry, I have some problems with the English language, of course successful trader.
  • #1,173
  • Jun 18, 2012 4:50pm Jun 18, 2012 4:50pm
So at what price did you put your stop, and at what price did it get filled?
  • #1,174
  • Jun 18, 2012 10:30pm Jun 18, 2012 10:30pm
Quoting Marv
Just a bitter troll it seems, the more he posts the more this is confirmed.

Just had to be sure before putting him back on ignore.
While researching LMAX as my potential new broker, this thread has had more contributors to my ignore list than any other.

Thanks to you and all those who provide worthwhile LMAX information.
Cap
  • #1,175
  • Jun 19, 2012 3:39am Jun 19, 2012 3:39am
Good morning 666,

Quoting 666
The market went after market open at 23:00 o'clock GMT pip-exactly to my margin stop out level. I could bet if I had some micros less open the market would climb some pips more to reach my stop out level.
I received the following email message from Armada last week:

Quote
Dear client,

Since we value long-term relationship with our clients we would like to inform you that on this coming Sunday, June 17, 2012, Greece will be having Parliamentary elections. This is a critical event regarding the future of Greece as part of the Eurozone. While Armada Markets does not give specific trading advice, we believe these elections may result in periods of extreme volatility. We urge you to take necessary steps to protect yourself from potential spikes or market gaps.

I received similar advice from a very long list of other brokers. Did you receive such an email from any of your brokers? If so why did you ignore that advice?

Cheers,

Jim
  • #1,176
  • Jun 21, 2012 1:21am Jun 21, 2012 1:21am
opinion about LMAX

Quoting modernmystery
1. the perceived spreads aren't as important as you think.

2. LMAX has a lousy marketing team or budget.

3. Amongst more experienced guys I've spoken to there are still questions about their liquidity pool (rightly or wrongly - they aren't effective at communicating the reality).

4. They don't offer money management facilities such as PAMM and last I checked their api platform didn't offer market data that backfills.

Lowest spreads means nothing at face value, can they fill (on entry and exit) 5 standard lots with minimal slippage within...
  • #1,177
  • Jun 21, 2012 1:25am Jun 21, 2012 1:25am
Why terrible slippage and spreads in Asian session ?

Quoting happydaytrade
I agree with modernmystery. I have also traded with LMAX, terrible slippage and spreads blow out in Asian session. I'm sure they will get better as they become more established, however at the moment i think there's better out there.
  • #1,178
  • Jun 21, 2012 3:13am Jun 21, 2012 3:13am
Hi all,

I have trouble when I try to deposit with Armada.

With bank wire, I can not transfer because of restriction from my country (vietnam). It take a lot of time and many official document to prove but still can not transfer.

So I use Visa card to deposit. My local bank charge 3.3% (fixed number for all foreign transaction), Armada said their bank Nordea charge 2.5%. Fee is high but I must accept it. But, Armada use Moneybooker as their intermediary service to charge money. Then I got a lot of stupid thing. MB limit my deposit at 316$. Then they said that if I open their MB acc, I can send money to that acc and wire to Armada. I did it, and verified my card then the limitation still was the same. And, now they say i can deposit to their acc with fee is 1.9%, then wire to Armada with fee 2.6%. Can not accept this fee. They also say that I can use bank transfer to open limitation. But I can do it, I will always choose bank wire to transfer directly to Armada.

Armada's supporter say they will have their own payment method soon but seem I can not wait. Does anyone meet this stupid problem?

I'm considering Pepperstone. Any advice? Thanks.
  • #1,179
  • Edited 7:36am Jun 21, 2012 4:52am | Edited 7:36am
Quoting dikdikdik
Hi all,

I have trouble when I try to deposit with Armada. [... ]this stupid problem?

I'm considering Pepperstone. Any advice? Thanks.
Hi, not sure about the Pepperstone route. This guy was having similar issues at Pepperstone. He is from vietnam as well.

Try sending him a message to see...

http://www.forexfactory.com/4extool

Hope this helps!


Edit: Pepperstone's funding options: https://pepperstone.com/clients/funding.php
Direct credit card deposit is one of them. 1.8% for AUD and 3% for all other currencies.
Fuck Forex Factory.Wake up people.
  • #1,180
  • Jun 21, 2012 7:19am Jun 21, 2012 7:19am
Okay I just spoke to them. As you said, they seem willing to fix this.

"We will be changing credit card gateway operator in the coming week or two. Hopefully it would then be much easier to deposit with credit cards.

Thank you for your feedback."

(She answered two of my emails within minutes lol. Great support so far.)
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