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Attachments: LMAX = revolution?!?
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LMAX = revolution?!?

Quoting shrike
http://www.fxmtf.com/ - this IB reduced commissions to $20/million. But i suppose exisiting LMAX customers cant sign up for this.
That's useful to know as I see they offer Multicharts. Be nice if Fastbrokers did the same as the Pathfinder platform is the best I have used...
Quoting shrike
http://www.fxmtf.com/ - this IB reduced commissions to $20/million. But i suppose exisiting LMAX customers cant sign up for this.
Hey, you can call them and ask to attach your existing LMAX-account to to fxmtf. I have done this. It works.
Armada now have much worse spreads than LMAX on many pairs. Looks like Armada screws up. Not worth trading with them anymore.
Quoting No-Luck
Armada now have much worse spreads than LMAX on many pairs. Looks like Armada screws up. Not worth trading with them anymore.
NoLuck: is that with a 'Classic' or 'Exchange' account?
Quoting No-Luck
Armada now have much worse spreads than LMAX on many pairs. Looks like Armada screws up. Not worth trading with them anymore.
do u have issue like mt4 platform 'frozen' for a while or disconnection or things like that?
Quoting shrike
NoLuck: is that with a 'Classic' or 'Exchange' account?
is there a differences?
It's an Exchange account where you have to pay commissions for every trade. Disconnects still occur (1-2 per day) (right now i had one for 8 seconds) but don't last usally more than 1 minute. Execution speed is still super-fast.
Quoting fxking
is there a differences?
I believe 'Classic' has wider spreads and no commission.
Quoting No-Luck
It's an Exchange account where you have to pay commissions for every trade. Disconnects still occur (1-2 per day) (right now i had one for 8 seconds) but don't last usally more than 1 minute. Execution speed is still super-fast.
do u use any VPS?
No VPS. USD/CHF USD/CAD and EUR/CHF are some pairs where the spread now totally sucks and there are much more pairs. When the spread is on EUR/CHF (LMAX) 0.6 pips it's on Armada 1.5 pips. BTW: Ticks are less on many pairs,too. "Armada Markets is a partner of LMAX" - that's not true anymore.
Quoting No-Luck
No VPS. USD/CHF USD/CAD and EUR/CHF are some pairs where the spread now totally sucks and there are much more pairs. When the spread is on EUR/CHF (LMAX) 0.6 pips it's on Armada 1.5 pips. BTW: Ticks are less on many pairs,too. "Armada Markets is a partner of LMAX" - that's not true anymore.
what do u mean by 'not true anymore'?
Quoting BennyB
There are 2 brokers in the world that I would ever use, unless of course Jesus comes back and establishes his own brokerage. These 2 are LMAX Exchange and Armada Markets. For wealthy people LMAX for smaller fish Armada.
What do you consider wealthy people and small fish? How many lots it needs to be a wealthy people?
I for myself have now decided to trade much less with them. I've seen so many MT4 broker going from good to crap. And Armada is no exception. Looks like they can't cover the costs and now mark up the spreads.
Quoting No-Luck
I for myself have now decided to trade much less with them. I've seen so many MT4 broker going from good to crap. And Armada is no exception. Looks like they can't cover the costs and now mark up the spreads.
i do agree that armada is not having a good spreads recently,is it adding liquidity supposedly to have better spread? instead it went the other way!
Quoting fxking
i do agree that armada is not having a good spreads recently,is it adding liquidity supposedly to have better spread? instead it went the other way!
Really? I found my spread is exactly the same as lmax...
Be the market
hey guys.

Few questions regarding LMAX. Why is it that their order book shown in main page of their site always show orderbook with order sizes which are increments of 5 or even of 50 (most of the time it looks like 150 or 100 or 50 or 75 etc.) while their minimum order size is 1000 units of currency (0.1 of their 1 lot or 10K units)? Does the orderbook look the same when you look at the real platform?

Also a question about commisions. Few brokers like armada and fxmtf offer lower commision of 0.2$ instead of 0.25$. Do you trust those guys? And how they are able to offer this better commission than LMAX itself?
retty: it looks the same on the real platform. That are prices quotes by liquidity providers (aka banks), who quote 'round' quantities in quarter, half and full millions. Sometimes you can see a small order go through, or 'odd' quantities, that would be a customer order or a customer removing liquidity with a marketorder.

You could negotiate better commissions yourself - provided you deposit enough money and trade a considerable amout of contracts per month. An introducing broker like FxMtf with multiple clients obviously has an easier time negotiating better fees than an individual.

The difference between an IB like FxMtf and Armada is that FxMtf is just an introducing broker, meaning your money would go directly to LMax and there would be no possibility for FxMtf to get to it. It also wouldnt matter if FxMtf were to default - its basically an ordinary LMax account, with them earning part of your fees. Since this is in the UK, you would also be protected by the FSCS.

Armada on the other hand is a 'real' broker, and you would send the money to them. If Armada were to default, your money would more than likely be lost. Also it looks like they do not provide access to the web-platform anymore, only MT4.
Hey, shrike

Thanks for the reply. So as I understand you would not have a problem opening LMAX account through fxMtf? Lower commission form IB is somehow strange to me, because I was used to seeing IBs of FXCM kind etc. who basically make it costlier to trade (add to spread). Perhaps any other specific IBs of LMAX worth mentioning?

BTW, any idea how much you should trade per month to negotiate commission better than 0.2$? I guess if you open through fxMtf, then you will not be able to negotiate even better commission latter (except maybe closing and opening account again directly).
Quoting retty
Perhaps any other specific IBs of LMAX worth mentioning?
I trade with LMAX through FastBrokers. The comission is the same as LMAX, but the advantage is you get an awesome trading platform. They connect through API so there are no bridges or anything to worry about like with metatrader = much faster execution.

I recently started a thread about them here: http://www.forexfactory.com/showthread.php?t=389373
Cap
Quoting retty
while their minimum order size is 1000 units of currency (0.1 of their 1 lot or 10K units)?
It's 10K minimum. Their lot (they call it contract) is 10K units of currency.
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