It's 10K minimum. Their lot (they call it contract) is 10K units of currency.
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At least on demo you can enter size of 0.1 of their lot. Does live differ from demo in that respect? Then perhaps minimum is 1 lot, but then increments are 0.1 (like 2.1 etc.)?
At least on demo you can enter size of 0.1 of their lot. Does live differ from demo in that respect? Then perhaps minimum is 1 lot, but then increments are 0.1 (like 2.1 etc.)?
Interesting interview. Unfortunately i dont have a subscription to read the full article.
There are also 2 articles linked on the lmax website in the press-section. To me it sounds alot like they make by far the most business by providing liquidity to other retail/MT4 brokers - and that their prior approach (targeting the retail customer directly) pretty much failed. They say as much in your link too.
Anyone knows the exact date of publication of this article ?
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"First Published in Automated Trader Magazine Issue 27 Q4 2012"
Their magazine is issued quarterly, so that was probably Late Sept / Early October.
It was a very interesting article. As a liquidity provider, they provided some interesting insights of how the market is divided up. Lots of retail trading from Japan, and culturally Asia and Eastern(?) Europe (Russia) have been involved as cash-based societies. LMAX can only grow from here, and it's good that they have the exchange infrastructure in case regulations change in certain countries that may make it some sort of requirement for retail brokers. It helps keep everyone honest, and you can at least get a proportional idea of volume without having to reverse engineer stats like MyFxBook's Community outlook.
Since their matching algorithm mirrors that of an exchange, is it possible to get their actual volume stats for the forex pairs on the mt4 platform? Or can it be access via a separate instrument or level 2 plugin?
"First Published in Automated Trader Magazine Issue 27 Q4 2012"
Their magazine is issued quarterly, so that was probably Late Sept / Early October.
It was a very interesting article. As a liquidity provider, they provided some interesting insights of how the market is divided up. Lots of retail trading from Japan, and culturally Asia and Eastern(?) Europe (Russia) have been involved as cash-based societies. LMAX can only grow from here, and it's good that they have the exchange infrastructure in case regulations change in certain countries...
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Hello,
Yes they do offer mt4 thorugh PrimeXm bridge
Since their matching algorithm mirrors that of an exchange, is it possible to get their actual volume stats for the forex pairs on the mt4 platform? Or can it be access via a separate instrument or level 2 plugin?
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Unfortunately not via MT4, nor via Java/Net api. But since they are regulated as an MTF, they must comply with Mifid post-trade transparancy rules and have to publish any trades carried out on LMax in realtime. They do so via FIX and also on Reuters.
Those 2 options are not very accessible to most retail users. IMO they should atlest publish daily traded volumes on their MTF website, like all exchanges do.
This information would only be interesting to see if their business grows and how they are doing, but not to support any trading-decisions. Accoding to their interviews they match around 20 to 30 billion per month, so average daily volume ~1.5 billion. Still pretty small, but apparently on an upward trajectory.
based on your live experience with LMAX, if you put EUR/USD limit order within the spread (lets say buy limit order 0.1 pip higher then current highest bid price on order book) for a small amount (lets say 10 contracts, or 100K units), if the price does not move, how fast will your order get filled? I want to stress here what this order is filled not because the market moves, but purely because someone in LMAX made a market order to sell. I am interested to know how fast will this order get filled during active trading sessions (London and New York)?
Tried this on demo, with no luck. Seems like on demo, limit orders only get filled when the market itself moves to your limit order. Does not seem like market orders from other LMAX participants play any role in filling your limit orders on demo.
Tried this on demo, with no luck. Seems like on demo, limit orders only get filled when the market itself moves to your limit order. Does not seem like market orders from other LMAX participants play any role in filling your limit orders on demo.
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lol, really ? fwiw, it is always like that everywhere....
I think its possible that they ditch servicing retail all together - since - according to their interviews - doesn't bring in much business anyways, and carries a large regulatory overhead/cost. That would be really a pitty. It would kill IBs like FxMTF too.
The minimum deposit to your account will depend on the type of account you open. Please see below the different account types: Classic Account - $10,000 minimum initial deposit, or your base currency equivalent. Premium Account - $50,000 minimum initial deposit, or your base currency equivalent. Professional Account - $250,000 minimum initial deposit, or your base currency equivalent.
Ok false alarm, according to chat its just a website fubar and they will fix it. Minimum is still 10K.
I just figured it would make sense, with the interviews they gave, and seeing that they are basically in competition with their biggest clients (other MT4 brokers).
