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LMAX = revolution?!?

  • #1,681
  • Apr 7, 2013 8:41am Apr 7, 2013 8:41am
Was supposed to be some testing last week, haven't heard anything, will email lmax this week
  • #1,682
  • May 1, 2013 4:59am May 1, 2013 4:59am
Quoting Forexia
{quote} The ONLY thing I have against LMAX is that they don't offer trading on all of the currency pairs. You would expect a high-volume with deep liquidity of an Forex exchange like LMAX to be able to offer trading on all of the 80+ pairs for trading but no, they only offer like 62+ pairs with some pairs missing. If only they are able to offer trading on all of the available pairs, they wouldn't be just near perfect; they would be absolutely perfect!!
The fact that it is an exchange means that the more exotic pairs are likely to have much lower volume and therefore more issues with getting filled at the price you want.

The only gripe I have with them is there pathetic historical data, so have to use other broker's charts.
  • #1,683
  • May 1, 2013 6:33am May 1, 2013 6:33am
Quoting Porkpie
{quote} The fact that it is an exchange means that the more exotic pairs are likely to have much lower volume and therefore more issues with getting filled at the price you want. The only gripe I have with them is there pathetic historical data, so have to use other broker's charts.

What's wrong with it, I have 5 min-30min data that goes back all the way to 7th April, 1/4 hour history goes back to 3rd Feb, daily gors back to 2004 etcetc. Do you need a year's worth of 5 min to 1 hour chart data, or 6 month's of 4 hour data? Start getting to those timeframes and they're not much help..
  • #1,684
  • May 1, 2013 10:58am May 1, 2013 10:58am
You can try SierraChart, they now have lmax data too. Its not free, but they have a free demo period. They operate their own historical data servers.
  • #1,685
  • Edited 9:06am May 15, 2013 8:14am | Edited 9:06am
Can you switch to 1:3 leverage on Armada? Is this the best LMAX broker to try atm? I prefer MB Trading / Citi FX so wondering if anyone has moved from these brokers to Armada / LMAX and have noticed any changes?

I read they added citi to their liquidity providers.

Thanks

Quote
Following up on the news earlier in the day that Betfair was selling 67% of LMAX to management for £2.4 million,

The big question we had was how the overall valuation of £3.6 million for the company was calculated, being that Goldman Sachs had sold its 12.5% stake to Betfair in March for a reported $10 million

http://forexmagnates.com/lmax-exchan...-more-details/

What's up with that?

EDIT: Nevermind, will stay with my own brokers, you guys are insane if you are okay with 50 pip spikes in spread.
"Everyone gets what they want out of the market." -- Ed Seykota
  • #1,686
  • May 15, 2013 11:27am May 15, 2013 11:27am
What 50 pips spike?
  • #1,687
  • May 15, 2013 11:43am May 15, 2013 11:43am
Quoting shrike
What 50 pips spike?
http://www.forexfactory.com/showthread.php?p=5751147

and donnafx forums

http://i.imgur.com/oyU4Iyp.png

http://i.imgur.com/TjocFAV.png

The amount you save by little spreads will be whipped out y one of such slippages.
"Everyone gets what they want out of the market." -- Ed Seykota
  • #1,688
  • May 15, 2013 12:10pm May 15, 2013 12:10pm
Never had such problems. Not using MT4 or an unregulated estonian firm (whose owner has a dodgy regulatory history btw) helps, i suppose.
  • #1,689
  • May 16, 2013 6:28am May 16, 2013 6:28am
Quoting shrike
Never had such problems. Not using MT4 or an unregulated estonian firm (whose owner has a dodgy regulatory history btw)
helps, i suppose.

what about using mt4 offered by lmax itself ?
  • #1,690
  • May 16, 2013 6:42am May 16, 2013 6:42am
I have ever only used the web-platform, so i cant comment on its reliability. But its an additional moving part that can always cause problems, like when Metaquotes pushed out an unannounced update that caused problems at several brokers, including lmax (a few weeks ago).
  • #1,691
  • May 16, 2013 7:03am May 16, 2013 7:03am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting shrike
Never had such problems. Not using MT4 or an unregulated estonian firm (whose owner has a dodgy regulatory history btw) helps, i suppose.
Could you please a bit more precise about "an unregulated estonian firm (whose owner has a dodgy regulatory history btw)"?
Thx.
  • #1,692
  • May 16, 2013 8:37am May 16, 2013 8:37am
The Mattus bros did some prearranged trades on the CME in illiquid wheat options with each other. Why do that, you ask? Presumably for either attempted tax evasion or money laundring. Maybe not the worst thing that has ever been done in financial markets. But i won't send money to people who have such problems either. Not that i would send money to an unregulated firm in the first place. Being an unsecured creditor to an estonian llc is not a position i want to be in.

http://www.cmegroup.com/company/memb...date.print.pdf
Search for "Mattus"
  • #1,693
  • May 16, 2013 9:02am May 16, 2013 9:02am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting shrike
The Mattus bros did some prearranged trades on the CME in illiquid wheat options with each other. Why do that, you ask? Presumably for either attempted tax evasion or money laundring. Maybe not the worst thing that has ever been done in financial markets. But i won't send money to people who have such problems either. Not that i would send money to an unregulated firm in the first place. Being an unsecured creditor to an estonian llc is not a position i want to be in. http://www.cmegroup.com/company/memb...date.print.pdf...
Thx. Very interesting. Indeed, you cant run serious money there...
  • #1,694
  • May 16, 2013 9:11am May 16, 2013 9:11am
Quoting shrike
The Mattus bros did some prearranged trades on the CME in illiquid wheat options with each other. Why do that, you ask? Presumably for either attempted tax evasion or money laundring. Maybe not the worst thing that has ever been done in financial markets. But i won't send money to people who have such problems either. Not that i would send money to an unregulated firm in the first place. Being an unsecured creditor to an estonian llc is not a position i want to be in. http://www.cmegroup.com/company/memb...date.print.pdf...
Nice catch!
I'm not insane; my mother had me tested.
  • #1,695
  • May 20, 2013 8:53pm May 20, 2013 8:53pm
Hey Guys,

I know there have been post before, but things change every couple months it seems now with forex:

1. Can anyone list LMAX IBs which offer MT4? I ask because LMAX clearly has good rep compared to
many others, but I have MT4 EAs and indis and also would like to start small,

2. Assuming LMAX can only be accessed on MT4 via IBs, what really are MT4 pros and cons over
LMAXs own system, besides widely used MT4 indis and EAs?

3. Any other 'reliable' and low latency/low spread broker suggestions besides LMAX?

Cheers,

Athar.
Toronto, Canada
  • #1,696
  • May 20, 2013 9:57pm May 20, 2013 9:57pm
Quoting atharmian
Hey Guys, I know there have been post before, but things change every couple months it seems now with forex: 1. Can anyone list LMAX IBs which offer MT4? I ask because LMAX clearly has good rep compared to many others, but I have MT4 EAs and indis and also would like to start small, 2. Assuming LMAX can only be accessed on MT4 via IBs, what really are MT4 pros and cons over LMAXs own system, besides widely used MT4 indis and EAs? 3. Any other 'reliable' and low latency/low spread broker suggestions besides LMAX? Cheers, Athar. Toronto, Canada
Although LMAX does do MT4 direct without the need for an IB, as a fellow Cannuck I should tell you that they no longer take Canadian retailers.

Canadians had their accounts closed out a while ago and no new applications are being accepted.
FXGears.com
  • #1,697
  • May 21, 2013 3:28am May 21, 2013 3:28am
Jack,

Thanks for reminding me of one your earlier posts.

1. So, given your deep expertise judging from detailed posts, what 'good' brokers do Canadians
have access to, with 50:1 or more leverage?
Seems like the Can FXCM partner (Friedberg) really limits to 1:30 or less, citing Ontario regs.

2. And any comments on MT4 vs other trading platforms?

Regards,
Athar.


Quoting Jack_Larkin
{quote} Although LMAX does do MT4 direct without the need for an IB, as a fellow Cannuck I should tell you that they no longer take Canadian retailers. Canadians had their accounts closed out a while ago and no new applications are being accepted.
  • #1,698
  • May 21, 2013 3:31am May 21, 2013 3:31am
Quoting atharmian
Jack, Thanks for reminding me of one your earlier posts. 1. So, given your deep expertise judging from detailed posts, what 'good' brokers do Canadians have access to, with 50:1 or more leverage? Seems like the Can FXCM partner (Friedberg) really limits to 1:30 or less, citing Ontario regs. 2. And any comments on MT4 vs other trading platforms? Regards, Athar. {quote}
Interactive Brokers
MB Trading
  • #1,699
  • May 21, 2013 8:29am May 21, 2013 8:29am
Quoting atharmian
Hey Guys, I know there have been post before, but things change every couple months it seems now with forex: 1. Can anyone list LMAX IBs which offer MT4? I ask because LMAX clearly has good rep compared to many others, but I have MT4 EAs and indis and also would like to start small, 2. Assuming LMAX can only be accessed on MT4 via IBs, what really are MT4 pros and cons over LMAXs own system, besides widely used MT4 indis and EAs? 3. Any other 'reliable' and low latency/low spread broker suggestions besides LMAX? Cheers, Athar. Toronto, Canada
The only reason to use one of their IBs is if you want higher leverage. Thing is, with LMAX directly you get a maximum of 100:1. The IBs are more flexible regarding the leverage than LMAX. Otherwise, you can go with LMAX directly becuase they also offer CFD's.
Forex is a losers game.
  • #1,700
  • May 21, 2013 8:33am May 21, 2013 8:33am
Quoting trader121
{quote} The only reason to use one of their IBs is if you want higher leverage. Thing is, with LMAX directly you get a maximum of 100:1. The IBs are more flexible regarding the leverage than LMAX. Otherwise, you can go with LMAX directly becuase they also offer CFD's.
From what I remember, LMAX also expects at least $10K starting deposit, but IB's take customers with less capital ($2.5K, or even $1K). Unless something has changed?
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