I'm trading armada with the news and got only 0.6 pips stop orders slippage from a 10 pips jump. I guess even with their quite widened spread, partnering with citi isn't that all bad.
Be the market
- #1,404
- Oct 25, 2012 12:31pm Oct 25, 2012 12:31pm
From armada's website of course. Their main partner for trading is citibank and lmax. you could see that on client area or in the about armada markets...
- #1,405
- Oct 25, 2012 7:38pm Oct 25, 2012 7:38pm
if u r talking abt this,then i know but it seem that after Armada has added more LPs,their spreads for some pairs,seem worst than before,what do u think?
I prefer this because i ever trade with some 'very' reputable ECN brokers with low spread and often got 1-2 pips slippage on fast market and 4-7 pips stop orders slippage when trading news :/ .Hence, i didn't care too much about the widened spread.
Though im still not long enough trading with armada (as we know, some brokers only show the real market condition when they found a trader is making profit in the long run), so yeah, my trading condition on armada must be evaluated again later. or maybe someone in here are already have a happy long profit with armada?
Be the market
- #1,407
- Oct 26, 2012 1:08am Oct 26, 2012 1:08am
Hey why don't you guys go make an Armada thread. This thread is titled LMAX and I don't really care what some sh*tty MT4 Broker in Estonia has for liquidity partners.
Much appreciated.
Be the market
- #1,412
- Oct 27, 2012 4:15am Oct 27, 2012 4:15am
I'm still not sure what you mean, but if what you mean is comparing FX (ECN) to some US exchange then it's a bit different. You know, in ECN fx there's no single dealer intervention or market maker who set the spread. So the spread is the bid-offer itself, hence it could go even 0 spread sometimes. Also, it could go 10-50 pips spread, but it won't happen often because market maker and bank would almost take the spread bet. And yes, this mean the price 'should' go to your price first and then get executed, even just by a fraction of a second.
Moreover,...
1.whats the difference between trading with LMAX itself and thru Armada?
2.do u have these 2 accts,to see the filling and execution of orders?
3.since LMAX is based in UK and Armada is based in Estonia,does that means LMAX is safer,even though quotes r getting to Armada? will Armada be liable if they starts to play tricks?
Thanks!
- #1,415
- Oct 27, 2012 7:46am Oct 27, 2012 7:46am
bro,if u dont mind i ask u these questions?
1.whats the difference between trading with LMAX itself and thru Armada?
2.do u have these 2 accts,to see the filling and execution of orders?
3.since LMAX is based in UK and Armada is based in Estonia,does that means LMAX is safer,even though quotes r getting to Armada? will Armada be liable if they starts to play tricks?
Thanks!
1. It's different. It's the routing process: Armada is using primexm service as bridging while lmax is using built-in or api.
2. No longger. my experience with lmax was not long so i couldn't judge this matter. Nevertheless the slippage is about the same, mostly positive.
3. From my point of view, nothing is safer. even with cftc, nfa, asic, or fsa. Bad broker will always be devilish, no matter what is the regulator. Good broker will always be angelic, even without regulator. Any brokers won't be liable if they starts to play tricks.
you see, the answer is not satisfying. But let me assume that you're interested why i'm choosing armada instead the lmax itself, let me explain.
Differences.
The main difference between Armada and LMAX or other IB for LMAX, for me, is MT4. I always use my customed MT4 script heavily. Yes i could migrate all the script and template to multichart if i want, maybe takes a week, but when armada is already offering the primexm bridge with a better commission, the hassle isn't just worth it.
would it be differ? of course, primexm bridging will be differ with built-in. but even built-in is differ with api. The most important thing is that i don't feel any 'profit-changing' differences if i'm with armada. Moreover, lmax had ever try to offer the same MT4 primexm bridging. But as i say before, i'm not that old best friend with armada. Things could change and need more evaluation in the long run (1 year at least maybe?).
Reliability.
Estonian. That's what everyone afraid of. I couldn't make the broker feel the pressure of 'mighty and reputable' regulator if he's messing because it's estonian and I don't know much about its country. But hey, if i use UK broker and it's gone bankrupt, the same thing would occur, my money would gone.
but what if something going fishy? Well, they could hid rotten fish, but they couldn't hide the smell. From my experience 'all is well' currently. And if things goes strange i could always get out from it instantly. If the money couldn't be withdrawn... well, that's the reason you don't put all eggs in one basket.
Last words.
The fact that armada isn't an actual broker made my decision. They route the orders to lmax and citi and all they get is the rebate/commission. What could be wrong when they're just a multi introducing brokers? taking the deposit money and run? Well if they intend to do that, i'm sure their website and customer service will be a crack.
well, just my cent and a half, sorry if it's too long
Be the market
- #1,416
- Oct 27, 2012 9:40am Oct 27, 2012 9:40am
sure, i don't mind, though maybe you won't find a satifying answer.
1. It's different. It's the routing process: Armada is using primexm service as bridging while lmax is using built-in or api.
2. No longger. my experience with lmax was not long so i couldn't judge this matter. Nevertheless the slippage is about the same, mostly positive.
3. From my point of view, nothing is safer. even with cftc, nfa, asic, or fsa. Bad broker will always be devilish, no matter what is the regulator. Good broker will always be angelic, even without regulator....
