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LMAX = revolution?!?

  • #1,761
  • Dec 4, 2013 7:10am Dec 4, 2013 7:10am
Quoting bootsyjam
Hi all, I am new here, and am looking to go live with LMAX. Been using MT4 with bucket shop, and I'm currently trying out LMAX-WebClient platform. I do have some technical ques for those who hav demo/live experience with LMAX. 1) On its WebClient, does it have the 'one-click cross-cursor function' as it does on MT4 to measure 'number of pips' as you drag up/dn the charts? I cant find any 2) In choosing between WebClient/MC/MT4, in terms of PRICING & EXECUTION alone (regardless of interface/indicators availability/etc), does any of the platforms...
For execution Web/API is the best. MC does use the LMAX API of course, but there is a lot of code around it (update order history, this that etc) but I have not measured spent time analysing any speed difference there. Metatrader adds way more than a millisecond latency, more like 100ms+ believe me, I've done in depth studies here.
  • #1,762
  • Dec 11, 2013 8:00am Dec 11, 2013 8:00am
After a lot of research I decided to go with Lmax and I have been very happy with every aspect of trading with them. The only issue I have is the 1:100 leverage which I am finding restrictive for a new trading style. So I'm back to looking for a broker of Lmax quality where the prices aren't messed with but where I can get 1:200 leverage.. I'm not too keen on sending funds to Estonia or dealing with smaller companies.

Can anyone help? I was looking at Dukascopy but have read some bad stuff about their slippage and fills (which are in no way an issue on Lmax). I post this here as anyone who's been using Lmax knows the standard of what I am after, cheers.
  • #1,763
  • Edited 9:28am Dec 11, 2013 9:12am | Edited 9:28am
Quoting messiah01
After a lot of research I decided to go with Lmax and I have been very happy with every aspect of trading with them. The only issue I have is the 1:100 leverage which I am finding restrictive for a new trading style. So I'm back to looking for a broker of Lmax quality where the prices aren't messed with but where I can get 1:200 leverage.. I'm not too keen on sending funds to Estonia or dealing with smaller companies. Can anyone help? I was looking at Dukascopy but have read some bad stuff about their slippage and fills (which are in no way an issue...
Yes,they are the best so far.If you daytrade,they can offer more leverage.Ask your account manager.
  • #1,764
  • Jan 13, 2014 8:44am Jan 13, 2014 8:44am
Thanks Timos, when you reach certain volumes it seems it is possible.

On an unrelated note can anyone help me with the calculations needed to create a simple spreadsheet to work out position sizes for GOLD CFD spot on Lmax? Apologies if this is obvious to some!
Account balance is in GBP - i.e risking 2% of account, with stop loss amount = how many lots should be placed for GOLD on Lmax.
Cheers
  • #1,765
  • Jan 19, 2014 5:56pm Jan 19, 2014 5:56pm
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}

I'm not aware that LMAX is having spread, the gap that you see is the difference between buyer and seller asking price. LMAX only charges commission. The confusion arises when we compare LMAX with other typical forex brokerage (that charge with spread), LMAX is an exchange (MTF). That is what I understood anyway... :-)
  • #1,766
  • Jan 20, 2014 7:09am Jan 20, 2014 7:09am
Hi, lmax`s clients.
I have question about lmax`s MT4.
How do condition? in comparison to another mt4 ecn brokers.
execution speed,,
connection ,disconnection,,,,
  • #1,767
  • Feb 1, 2014 7:38am Feb 1, 2014 7:38am
Hi all,

Does anyone have any experience trading gold on a live account with lmax? (or trading other cfd's)

Would appreciate any feedback!
  • #1,768
  • Feb 11, 2014 12:22am Feb 11, 2014 12:22am
Quoting messiah01
After a lot of research I decided to go with Lmax and I have been very happy with every aspect of trading with them. The only issue I have is the 1:100 leverage which I am finding restrictive for a new trading style. So I'm back to looking for a broker of Lmax quality where the prices aren't messed with but where I can get 1:200 leverage.. I'm not too keen on sending funds to Estonia or dealing with smaller companies. Can anyone help? I was looking at Dukascopy but have read some bad stuff about their slippage and fills (which are in no way an issue...

Very good feelings LMAX
  • #1,769
  • Feb 20, 2014 4:37am Feb 20, 2014 4:37am
hello traders,

i want to share with you a great tool from LMAX :

We have today released a new product that many of you have asked us to develop for you. This will give you a better overview of the spread for larger size trades on LMAX Exchange.

VWAP (Volume Weighted Average Price) – Price Widget; https://s3-eu-west-1.amazonaws.com/l...dget-vwap.html (be patient, it takes a few second to upload)

It is pretty self-explanatory but the following should be said with regard to entering a quantity in the VWAP amount field:

1. The VWAP price/spread will, by default, be calculated basis LMAX contracts (e.g. 1 LMAX FX contract = 10,000 notional base currency, 1 LMAX Spot Gold contract = 10oz)
2. Alternatively, a shortened notional amount can be entered in conjunction with the following product based abbreviations:

Example 1; Spot FX Pairs –

‘K’ or ‘k’
‘M’ or ‘m’
- will provide the price/spread in notional E.g. 500k = 500,000 notional/5m = 5,000,000 notional


Example 2; Spot Precious Metals –

‘OZ’ or ‘oz’
- will provide the price/spread in troy ounces


Example 3; Spot Oils –
‘B’ or ‘b’
- will provide the price/spread in Barrels


Equity Indexes – Not applicable at the moment, I will update you all if this change in the future.

To get rebates : www.wincashbackrebates.com
  • #1,770
  • Mar 10, 2014 8:00pm Mar 10, 2014 8:00pm
i've read here they have a problem of liquidity for CFD, that's still the case ?
( being a big fan of betfair i knew the comments would be good on lmax and i'm not disappointed, these guys are trustworthy persons )
  • #1,771
  • Mar 30, 2014 10:19am Mar 30, 2014 10:19am
Has anyone withdrawn from Lmax. The minimum balance is on the high side. I really want to know if there are traders on this forum that have withdrawn funds without hassles. I have been to their site and there is no well spelt out process for withdrawing funds. Its not just about fills; security of funds is cardinal in this business of ours. Please traders, kindly respond to my enquiry. Thank you all.
money making
  • #1,772
  • Apr 22, 2014 9:46am Apr 22, 2014 9:46am
Sorry for the late reply, not checked in on FF for a while. I've made withdrawals from LMAX without any problem. It's always to the cards that I initially deposited with though- not tried a withdrawal direct to a bank account, but I'm sure it's fine. Regarding the minimum balance required to open an account- that can be got around by using an introducing broker- there are several that have made threads on FF.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #1,773
  • Apr 23, 2014 9:59am Apr 23, 2014 9:59am
Usually 2 to 3 business days for bank-transfers (deposit or withdrawl). They use Worldpay fast bank transfer as payment processing firm. I would assume it also depends in what country you have your account, and if your bank is part of the Worldpay network. Within the EU its free and reasonably fast to deposit/withdraw with bank transfer, so i am not using cards.
  • #1,774
  • May 2, 2014 11:47am May 2, 2014 11:47am
Hi there - does anyone know of an app that can be used to set Price Alerts on Lmax price data, where if the price is hit it will send a push notification through to the iPhone?

I have MT4 set up to send notifications through from my desktop setup but I would find it helpful to be able to set them from within an app 'on the move', is this possible somehow?
  • #1,775
  • May 2, 2014 11:59am May 2, 2014 11:59am
Abundance Trading Group is pleased to be working with LMAX.
Forex brokers real time discount - visit Abundance trading group. com
  • #1,776
  • May 2, 2014 1:26pm May 2, 2014 1:26pm
Quoting messiah01
Hi there - does anyone know of an app that can be used to set Price Alerts on Lmax price data, where if the price is hit it will send a push notification through to the iPhone? I have MT4 set up to send notifications through from my desktop setup but I would find it helpful to be able to set them from within an app 'on the move', is this possible somehow?
You can use Multicharts for that - it doesnt directly support SMS alerts, but email. You can use a emal to sms gateway to send the sms.
  • #1,777
  • May 3, 2014 6:10am May 3, 2014 6:10am
Quoting messiah01
Hi there - does anyone know of an app that can be used to set Price Alerts on Lmax price data, where if the price is hit it will send a push notification through to the iPhone? I have MT4 set up to send notifications through from my desktop setup but I would find it helpful to be able to set them from within an app 'on the move', is this possible somehow?
Hello messiah01, you can try boxcar, I'm fine with it. When the price level is hit, mt4 (running on the desktop) sends an email to my google account, which forwards the message to the push server of boxcar and then to my iphone.
Detailed info at:

https://boxcar.io/
  • #1,778
  • May 3, 2014 7:32am May 3, 2014 7:32am
Quoting shrike
{quote} You can use Multicharts for that - it doesnt directly support SMS alerts, but email. You can use a emal to sms gateway to send the sms.
I'll check out the app today - Cheers Shrike
  • #1,779
  • Sep 4, 2014 3:27am Sep 4, 2014 3:27am
Quoting surfeur
Someone have already "negoces" commissions fees at LMAX ? under 25/20$ by M$ ? Volume average 20 milions day / 500 millions month ..
I'm not sure if anyone cares or is aware, but $20/25 per million is not really a great deal. To illustrate my point, I opened an account at London Capital years back with a 20k acct they gave me $16/mil no questions asked and I can't remember who (Marex or Cantor Fitz) was willing to buy my business from LCG for $12/mil. Top FX, whom I've never used but have talked to, was willing to offer $7/mil on 0-3 bn<. Actually, anyone have any experience with them? Guy I talked to was Adam Over...something or other.

Both Top FX and LMAX are PoP (prime of primes) as is, I believe, LCG. I'm not sure who has the largest NOP but CFH Clearing has $1.5 bn. I think LCB is somewhere around $1 bn but not positive on this. FC Stone is another PoP, but when I looked at them a couple yrs ago their liquidity was crap.

I read somewhere, from a user review, that LMAX doesn't allow news trading? LCG has no problem with that, but regardless I no longer use them. Currently using Interactive Brokers in Canada as they are a member of IIROC. I'm more worried about my funds being safe and 'insured' than spreads/comms, to some degree anyhow. In fact, the only reason I am contemplating putting some funds at another brokerage is because being in Canada, many brokers won't allow certain people to trade spot fx because of the province they live in... So I am just trading futures and IB's comms per mil are a little steep anyhow (though futures are a bit spend as well).
  • #1,780
  • Sep 6, 2014 1:01am Sep 6, 2014 1:01am
long spike,
this broker only.
Attached Image(s) (click to enlarge)
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