LMAX = revolution?!? | Page 68 | Forex Factory

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LMAX = revolution?!?

  • #1,341
  • Sep 1, 2012 6:38am Sep 1, 2012 6:38am
LMAX and the other broker whose name I am not going to mention (because saying anything about A*m*d* is equivalent to committing treason here) are one of the few if not the only brokers who want you to succeed in trading. Most others just want to rape you and make believe that you deserve to trade with wide spreads during active sessions, get requotes, get large slippage and get asked questions if you have had enough and want to withdraw.

P.s. I swear that one day I will love MBT, Instaforex, FXCM, Hotforex, Alpari, Refco, PFG Best, MF Global, Bernie Madoff and other respected entities and individuals. That is when Jesus returns with Elvis.

P.p.s. Oops, IBfx will be saved as well when Jesus returns.
  • #1,342
  • Sep 1, 2012 2:46pm Sep 1, 2012 2:46pm


I could write a novel called "Marv in respected entities and individuals Land".
  • #1,343
  • Sep 4, 2012 3:30pm Sep 4, 2012 3:30pm
Anybody trading exotics like TRY on LMAX? I wonder what's the execution like.
  • #1,344
  • Sep 6, 2012 10:46pm Sep 6, 2012 10:46pm
Does anyone from Vietnam has experiment with Armada? Please give me some advice how to withdraw to visa card from Vietnam bank?
  • #1,345
  • Sep 7, 2012 1:11pm Sep 7, 2012 1:11pm
Quoting Marv


I could write a novel called "Marv in respected entities and individuals Land".

lol .. why are u a commercial member now ?
  • #1,346
  • Sep 8, 2012 4:33am Sep 8, 2012 4:33am
Marv deserves some respect. He is brave enough to tell the truth.
  • #1,347
  • Sep 9, 2012 2:15pm Sep 9, 2012 2:15pm
I was considering opening an acc with Armada and when i looked over their "Order Execution Policy" I read this:

ii. Transactions with Financial Instruments where Armada is the main counterparty (or principal) to every trade; therefore if the Customer decides to open a position in a Financial Instrument with Armada, then that open position can only be closed with Armada;

Seeing as all orders are supposedly cleared with LMAX why is that provision in there at all? In what possible situation will Armada Markets be a counterparty?
  • #1,348
  • Edited Sep 10, 2012 1:23am Sep 9, 2012 2:38pm | Edited Sep 10, 2012 1:23am
Quoting Razorman
I was considering opening an acc with Armada and when i looked over their "Order Execution Policy" I read this:

ii. Transactions with Financial Instruments where Armada is the main counterparty (or principal) to every trade; therefore if the Customer decides to open a position in a Financial Instrument with Armada, then that open position can only be closed with Armada;

Seeing as all orders are supposedly cleared with LMAX why is that provision in there at all? In what possible situation will Armada Markets be a counterparty?
Pretty much all spot forex brokers state this, even ECNs, even LMAX. You are doing the transaction with them, they find your counterparty and separately open a transaction with the other side, you get the net change in price between open and close of contract.

Dukas acts the same way. LMAX acts the same way.

Heck, the CME acts the same way on the futures side... you might be offsetting someone else on the exchange, but the exchange itself is your direct counterparty in most cases (hence most exchanges being able to say you remain anonymous in your order postings and positions.) Even pit traders who look their counterparty in the eye and make a trade, legally speaking, are cleared and handled through the Exchange (and separate clearing firm) to make everyone whole.

On a side note, Armada added their own LPs atop of LMAX's feed, so they gotta handle the trade to split up what executable price routes orders where...

..or you could call this:

"How I learned to stopped worrying and love the market marker."
FXGears.com
  • #1,349
  • Sep 10, 2012 1:12am Sep 10, 2012 1:12am
Quoting Jack_Larkin
Pretty much all spot forex brokers state this, even ECNs, even LMAX. You are doing the transaction with them, they find your counterparty and separately open a transaction with the other side, you get the net change in price between open and close of contract.

Dukas acts the same way. LMAX acts the same way.

Heck, the CME acts the same way on the futures side... you might be offsetting someone else on the exchange, but the exchange itself is your direct counterparty in most cases (hence most exchanges being able to say you remain anonymous...
Maybe FF will have a 'thanks' button. This is one of the best explanations I've seen on the whole market maker terminology. It's not the demon that many newer traders make it out to be.

It's good to know at least people are reading their contracts.
Measure trends automatically with zero lag
  • #1,350
  • Sep 10, 2012 1:13pm Sep 10, 2012 1:13pm
For you guys that are live with LMAX (not through an IB), can anybody tell me the difference in the order execution speed between the web demo and the live platform?
  • #1,351
  • Sep 10, 2012 10:25pm Sep 10, 2012 10:25pm
To answer my above post, I just had a chat session, the -helpful- operator told me that the execution time on the demo may lag a little actually. I found it impressive though, have not yet tried trading during fast markets.

He also said that slippage on the demo is also similar to what you will experience real time.

Judging from their execution speed chart, one can see that on August there where (roughly) 30000 trades made, that was actual filled orders as per the chat operator, that makes it about 1000 daily which seems a little small to me, even considering August's thin volumes etc.

Commissions from 1000 orders/day seem too little for a DMA provider to make good revenue I think. I would also like to know more about their volumes.
  • #1,352
  • Sep 12, 2012 3:37pm Sep 12, 2012 3:37pm
Quoting Razorman
I was considering opening an acc with Armada and when i looked over their "Order Execution Policy" I read this:

ii. Transactions with Financial Instruments where Armada is the main counterparty (or principal) to every trade; therefore if the Customer decides to open a position in a Financial Instrument with Armada, then that open position can only be closed with Armada;

Seeing as all orders are supposedly cleared with LMAX why is that provision in there at all? In what possible situation will Armada Markets be a counterparty?
I think they take your order, send it to LMAX, get a confirmation and then confirm your order. Plain and simple. If you are serious trader and going to deposit a large chunk of money there then get yourself a better deal as high volume traders get a nice deal there. My personal account is too small so they declined me.
  • #1,353
  • Sep 19, 2012 8:28am Sep 19, 2012 8:28am
http://forexmagnates.com/estonian-fs...k-and-mytrade/

Apparently the estonian regulator ist not too happy about ArmadaMarkets.
  • #1,354
  • Sep 19, 2012 9:01am Sep 19, 2012 9:01am
Quoting shrike
http://forexmagnates.com/estonian-fs...k-and-mytrade/

Apparently the estonian regulator ist not too happy about ArmadaMarkets.
Armada support :

"Estonian FSA has mistakenly put a statement on us about investment services. Armada Markets doesn't provide investement services, which is trading in stocks, futures, CFDs and other derivative instruments. We provide trading only in Forex and spot metals. We are regulated by Estonian Ministry of Economics and not by FSA. Nonetheless the FSA informed us that they will correct the statement about us within 48 hours. "

"We have been told that a deliberately false letter was sent to FSA by one of our competitors (who by the way is located in Estonia) in orde to attempt to downgrade our good reputation. "
  • #1,355
  • Oct 2, 2012 3:46am Oct 2, 2012 3:46am
LMAX have switched to IT-Finance charts for their online platform. Really good.

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  • #1,356
  • Oct 2, 2012 5:59am Oct 2, 2012 5:59am
Quoting Ultimate6
LMAX have switched to IT-Finance charts for their online platform. Really good.

Attachment
Thanks for the heads up. It's much improved, but I wish you could trade and manage trades from the charts with it...
There is no top. There are always further heights to reach. Jascha Heifetz
  • #1,357
  • Oct 3, 2012 8:03am Oct 3, 2012 8:03am
Quoting Ultimate6
LMAX have switched to IT-Finance charts for their online platform. Really good.

Attachment
Order entry also changed ?

What time frames are available ?
  • #1,358
  • Oct 3, 2012 1:55pm Oct 3, 2012 1:55pm
Quoting Forexeurusd
Order entry also changed ?

What time frames are available ?
Tick, minute, daily. Order entry has not changed. A great improvement. Could be more, but as you're not having to pay for them...
  • #1,359
  • Oct 4, 2012 12:49pm Oct 4, 2012 12:49pm
Quoting Trader131
Thanks for the heads up. It's much improved, but I wish you could trade and manage trades from the charts with it...
Yea...
  • #1,360
  • Oct 8, 2012 6:43am Oct 8, 2012 6:43am
http://www.fxmtf.com/ - this IB reduced commissions to $20/million. But i suppose exisiting LMAX customers cant sign up for this.
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