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LMAX = revolution?!?

  • #1,721
  • Jul 22, 2013 4:33am Jul 22, 2013 4:33am
Quoting roughtrader
Some questions, how is your experience trading with lmax so far? I am concidering opening an acount with Them, are there any introducing agents with rebate programs i could take avantage of? appreciate any input, feel free to pm me.
LMAX is with no doubt the best broker for retailers. Main reason is that LMAX is a real ECN broker, this means that if you place an order, that order will be visible in the orderbook. You can test this with small units and you will see your order in the orderbook.

Personally, I'm very skeptical about rebate programs, because remember that no one gives something for free, often there is a catch associated with a rebate, thats why I personally don't use them.

You have the possiblility to open an order with Armada Markets, which is IMHO the 2nd best broker in the market.

LMAX vs. Armada Markets

Lmax Advantages:

- API available
- Orderbook is visible

Lmax Disadvantages:

- Low Leverage Maximum 100:1
- higher commissions than Armada, but commissions can be negotiated with LMAX if you do the volume
- high Minimum capital required

Armada Markets Advantages:

- Much higher leverage than LMAX
- Lower commissions (if you don't negotiate with LMAX)
- Low Minimum capital required

Armada Markets Disadvantages:

- No API available
- No Orderbook visible, available liquidity is unknown
Forex is a losers game.
  • #1,722
  • Jul 22, 2013 7:12am Jul 22, 2013 7:12am
Quoting roughtrader
Some questions, how is your experience trading with lmax so far? I am concidering opening an acount with Them, are there any introducing agents with rebate programs i could take avantage of? appreciate any input, feel free to pm me.
http://www.forexfactory.com/showthre...44#post6727344

My experience is that they are reliable, fills are fast. Thats for FX/metals and the web-trading platform. I don't know about their MT4, and i would advise against trading their commodity and index products intraday, since they only have a single marketmaker for these.
  • #1,723
  • Edited 8:20am Jul 22, 2013 7:12am | Edited 8:20am
One thing for sure. Spreads on GBPUSD have become a bit out of control on LMAX. I'm seeing spreads fluctuate rapidly between 0.9 and 1.9 pips but mostly hovering around 1.4. It is specifically worse before the London open.

This is not very competitive right now considering the other ECN style brokers including Armada, Pepper, Axi and IC are consistently stable below 1 pip.

At early NY open we're still seeing these pip spikes.
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  • #1,724
  • Jul 26, 2013 11:55am Jul 26, 2013 11:55am
Quoting C-12
One thing for sure. Spreads on GBPUSD have become a bit out of control on LMAX. I'm seeing spreads fluctuate rapidly between 0.9 and 1.9 pips but mostly hovering around 1.4. It is specifically worse before the London open. This is not very competitive right now considering the other ECN style brokers including Armada, Pepper, Axi and IC are consistently stable below 1 pip. At early NY open we're still seeing these pip spikes. {image}
you cannot compare lmax with other so called ecn brokers
  • #1,725
  • Jul 29, 2013 4:36am Jul 29, 2013 4:36am
Well I would love to use LMAX as my primary broker for various reasons but seriously, this GBPUSD spread issue is a joke.

In the early part of the London session this spread is varying rapidly between 1.0 and 1.7. Throw in commissions and it's not cheap to trade this instrument unless you manage to get lucky when the spread isn't going haywire.

Considering this is a flagship pair on LMAX's front page they should really make some commitment to addressing this. Here's another example.
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  • #1,726
  • Aug 2, 2013 4:20am Aug 2, 2013 4:20am
Quoting C-12
Well I would love to use LMAX as my primary broker for various reasons but seriously, this GBPUSD spread issue is a joke. In the early part of the London session this spread is varying rapidly between 1.0 and 1.7. Throw in commissions and it's not cheap to trade this instrument unless you manage to get lucky when the spread isn't going haywire. Considering this is a flagship pair on LMAX's front page they should really make some commitment to addressing this. Here's another example. {image}
just look at the historical average spreads ,around 1 pip , absolutely no joke... YOU must be joking

http://www.lmax.com/popup-average-sp...18&iframe=true

average spread of gpb/usd with oanda is 2 pips , commissions included

http://fxtrade.oanda.com/why/spreads/recent

you want cheaper commissions , get 20 % off the lmax commissions , go to http://www.fxmtf.com/
  • #1,727
  • Aug 12, 2013 2:11pm Aug 12, 2013 2:11pm
Well, looks like they will stop servicing retail clients now.

http://forexmagnates.com/lmax-evolve...-on-liquidity/

Sucks big time, if its true, which it most likely is.
  • #1,728
  • Aug 29, 2013 8:10am Aug 29, 2013 8:10am
Anybody using LMAX kind enough to explain how I could import LMAX data from their API or multicharts into MT4? This would eliminate the gaps and spikes in the historical data for MT4 currently offered by the (shockingly bad) PrimeXM FX Bridge.
  • #1,729
  • Aug 29, 2013 9:05am Aug 29, 2013 9:05am
Quoting Porkpie
Anybody using LMAX kind enough to explain how I could import LMAX data from their API or multicharts into MT4? This would eliminate the gaps and spikes in the historical data for MT4 currently offered by the (shockingly bad) PrimeXM FX Bridge.
I had a coder to make a simple program and extract the data from api.
  • #1,730
  • Sep 28, 2013 6:44pm Sep 28, 2013 6:44pm
Quoting shrike
Well, looks like they will stop servicing retail clients now. http://forexmagnates.com/lmax-evolve...-on-liquidity/ Sucks big time, if its true, which it most likely is.
yes, but wording of the article is that they will stop accepting new retail accounts... so does that mean that existing users and people who sign up before they stop, will still be able to trade?
  • #1,731
  • Sep 28, 2013 8:16pm Sep 28, 2013 8:16pm
Quoting ycomp
{quote} yes, but wording of the article is that they will stop accepting new retail accounts... so does that mean that existing users and people who sign up before they stop, will still be able to trade?
I dont know. Lmax themselves is denying that they have plans to stop accepting retail accounts. I still think they might do it in the future, or at least up the minimums significantly. A 10K account makes pocketchange in commissions if you compare it to broker-clients. Might not be worth it once they get more high volume clients. And they are competing against some of their (prospective)clients with this as well.
  • #1,732
  • Oct 1, 2013 2:44am Oct 1, 2013 2:44am
Someone have experience in FIX API ? i have some questions. pm please
  • #1,733
  • Oct 1, 2013 7:41am Oct 1, 2013 7:41am
I have worked with FIX, not with lmax tho. Its generally easy to work with, if you use a library like quickfix, or one of the commercial ones.
  • #1,734
  • Oct 4, 2013 4:38am Oct 4, 2013 4:38am
Quoting surfeur
Someone have experience in FIX API ? i have some questions. pm please
this may be of interest to you
I'm not insane; my mother had me tested.
  • #1,735
  • Oct 16, 2013 6:11am Oct 16, 2013 6:11am
Anyone know if LMAX or(IBs) accept Canadian clients?
Also, how bad is MT4 trading with them... read many negative comments.

Regards,
Athar.
  • #1,736
  • Oct 16, 2013 6:17am Oct 16, 2013 6:17am
Quoting atharmian
Anyone know if LMAX or(IBs) accept Canadian clients? Also, how bad is MT4 trading with them... read many negative comments. Regards, Athar.
No idea r.e. Canadian clients-just call them! Remember is £10k minimum balance. As for MT4 is supposedly good execution with them (or so they say-I don't use it) but if I were you I'd use it for charting and just enter trades manually/using preset limit orders etc.
  • #1,737
  • Oct 16, 2013 8:05am Oct 16, 2013 8:05am
Hello traders,

LMAX EXCHANGE deposit $ 1000 : 15 % discount Web based account after discount the Win Cash Back rebates clients will pay $41.25/million round-turn, Metatrader 4 account 15 % discount after discount the Win Cash Back Rebates clients will pay $4.25/lot round-turn. We have the best offer on the market.

Full details on our websitehttp://wincashbackrebates.com/
  • #1,738
  • Oct 16, 2013 8:12am Oct 16, 2013 8:12am
Quoting atharmian
Anyone know if LMAX or(IBs) accept Canadian clients? Also, how bad is MT4 trading with them... read many negative comments. Regards, Athar.
LMAX does not accept client from Canada, ! the MT4 Trading is good, no problem ! the trading cost is very low $ 5/lot round-turn and you can get 15 % discount from our website.

full details : www.wincashbackrebates.com
  • #1,739
  • Oct 16, 2013 8:38am Oct 16, 2013 8:38am
Quoting WCBR
Hello traders, LMAX EXCHANGE deposit $ 1000 : 15 % discount Web based account after discount the Win Cash Back rebates clients will pay $41.25/million round-turn, Metatrader 4 account 15 % discount after discount the Win Cash Back Rebates clients will pay $4.25/lot round-turn. We have the best offer on the market. Full details on our websitehttp://wincashbackrebates.com/

There is another IB with $40/million round-turn commission and you don't have to wait a month for the rebate either. Better make it $38 - you want to stay competitive!
  • #1,740
  • Oct 16, 2013 8:41am Oct 16, 2013 8:41am
Quoting shrike
{quote} There is another IB with $40/million round-turn commission and you don't have to wait a month for the rebate either. Better make it $38 - you want to stay competitive!
Could you show us this offer please ?
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