Anyone with Darwinex or LMAX? I had a little issue with AUDJPY | Forex Factory

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Anyone with Darwinex or LMAX? I had a little issue with AUDJPY

  • #1
  • First Post: Jan 23, 2015 1:34am Jan 23, 2015 1:34am
Hello.

Does anyone have an account with Darwinex or LMAX (their liquidity feed)?

I have a darwinex account and a AUDJPY position opened yesterday...short...my stop was at 95.44 and it was filled last night...But the problem is that in the chart the maximun price of the AUDJPY was only 95.33...

It is as if they increased the spread to 20/30 pips in that moment...And there were no significant news either..just a minor JPY news at 1.35

I thought LMAX/Darwinex was excellent liquidity....With these conditions it is very difficult to win there....spreads of +20 pips at night out of nowhere

Thank you
  • #2
  • Jan 23, 2015 2:44am Jan 23, 2015 2:44am
That's 11 pips away. My price chart shows 95.35 top, which would only be 9 pips away from your stop. 9-11 pips overnight spread seems a bit crap, but not beyond the bounds of possibility. Personally I would have felt happier with a stop above recent swing high at 95.90 then adjust lot size to the same risk. Getting in at around 95.30 means you could have taken half profit at 1:1 and now be sitting in a free trade with a wide stop in a downtrend. Just a thought.
"Risk comes from not knowing what you're doing." - Warren Buffett
  • #3
  • Jan 23, 2015 4:40am Jan 23, 2015 4:40am
I have been looking into Darwinex/LMAX as a secondary account - I am currently with Oanda. I often watch their live spreads on myfxbook, and the spreads do widen during news. Was this at the time of the HSBC Flash Manufacturing PMI from China? I know Oanda often widens the spread on AUD pairs during China news, and yes up to 20 pips. That's the only thing I can think of.
  • #4
  • Jan 23, 2015 7:18am Jan 23, 2015 7:18am
Yes, they confirmed me that it was an unusual spike at that time due to a liquidity problem with the jpy pairs. They say it was not normal...I believe them...I think they are not chasing my stops or whatever..and I am aware that there can be liquidity problems through the Asian session...but I have to reconsider my strategy with them then...

I know it was a tight stop...just 30 (I had 50 pips in other account for the same pair and that one is doing fine now) pips for that trade....and it is a pity because I would have a good deal of profits now (audjpy 93.25) but it is ok..

I am not a day trader, so I have to count on night spreads. And, since I live in Spain I can not trade the Asian session....day traders in the european and US sessions have very good conditions there ( lmax 1 pip spreads), but for swing traders (like me) the real cost of trading is the night spread.... then...so I have to count on 10/30 spreads for the pairs I trade..and I don not think there are many people who can win in the long run with spreads of 20 pips for pairs like audjpy...

So...what I will do is not using stop loss orders at night....I know it is crazy...but I have enough experience, and I do not take too much leverage, so I will take the risk

Thanks for the answer guys....Gracias
  • #5
  • Jan 23, 2015 7:43am Jan 23, 2015 7:43am
Here is a tick chart:

http://i.imgur.com/xAxc4Zz.jpg

Seems like wide spread due to China news at this time, its marked as red on the FF calender. Tough luck. Highest ask-price in this chart is like 46.8 or there abouts.
  • #6
  • Jan 23, 2015 8:28am Jan 23, 2015 8:28am
Thanks shrike

I have checked some brokers and there seemed to be an issue at that time...Axitraderpro had a 7.1 pips spread spike....aaafx (zulutrade guys) 17 pips and Darwinex 25....interestingly Oanda had only a 2.7 spread at that time..but I guess most ECN brokers suffered a spike

The China news were not a greal deal considering the FXstreet calendar....marked as "low volatility expected"...so I do not understand why such a big spread....I mean audjpy is meant to be one of the major pairs...and it is strange that a pair like it has that kind of problems in its main session...the asian

As I said, I have to reconsider my swing trading strategy...I can not work with tight stop loses at night....wider stop loss or not night stop loss...have to think about it...

Good trading guys
  • #7
  • Jan 23, 2015 10:08am Jan 23, 2015 10:08am
Oanda actually had a spread of 22+ at that time, and that happens more often than not with Oanda for China news on AUD and JPY pairs. You can check Oanda historical spreads at http://fxtrade.oanda.ca/why/spreads/recent and choose maximum instead of average.

Also, Darwinex is planning on having more liquidity providers, so hopefully that helps in the future. Like I mentioned before, I am considering them as a secondary broker and if they do add more providers that would be another big positive for them. That info is here: http://blog.darwinex.com/community-suggestions/
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY.PNG Size: 39 KB
  • #8
  • Jan 23, 2015 11:13am Jan 23, 2015 11:13am
Quoting FxJimmy
Oanda actually had a spread of 22+ at that time, and that happens more often than not with Oanda for China news on AUD and JPY pairs. You can check Oanda historical spreads at http://fxtrade.oanda.ca/why/spreads/recent and choose maximum instead of average. Also, Darwinex is planning on having more liquidity providers, so hopefully that helps in the future. Like I mentioned before, I am considering them as a secondary broker and if they do add more providers that would be another big positive for them. That info is here: http://blog.darwinex.com/community-suggestions/...
Yes, you are right...I did not check "maximum", but average...so it seems Oanda also had that huge spread increase at night

I hope they can add more liquidity providers soon...anyway I am staying with them for now

Thanks FxJimmy
  • #9
  • Feb 28, 2015 12:23am Feb 28, 2015 12:23am
Looks like LMAX becoming the same as Oanda during weekends - when they start widening spreads. On exotic pairs like GBP/AUD - its 52 pips at the moment. I would say it's a bit too much for "real" exchange.
  • #10
  • Mar 26, 2015 9:16am Mar 26, 2015 9:16am
I got this email from Darwinex on 19th March:

Quote
You asked for it so here you are: we've expanded our liquidity pool!
For the exact same low commissions, you will now enjoy even tighter spreads, both in normal market conditions and during news-releases.
Anything else we can improve on?


Trade safe,
Your Darwinex Team

P.S.: Please note that going forward swaps will be charged at 17:00 NY City time (in triple size Fridays for all the pairs except...

I've asked who the new LP is, but they're keeping that close to their chests. Would be nice to know who they've added on and if they have plans to add more soon.
  • #11
  • Jun 17, 2015 10:06pm Jun 17, 2015 10:06pm
Quoting alphatek
I got this email from Darwinex on 19th March: {quote} I've asked who the new LP is, but they're keeping that close to their chests. Would be nice to know who they've added on and if they have plans to add more soon.
I've also asked this question, this was their answer: "Our main LPs are LMAX (who is an Exchange itself aggregating prices from several LPs) & Saxo."

I am thinking of opening a live account with Darwinex for a few reasons.
1. FCA regulation and FCSC protection.
2. The ability to use their asset management license which is valid all across Europe.
3. Spread and commission are good.

Anyone here has some recent experience with them?
It would be much appreciated if you would like to share it with me and the rest of FF members.
  • #12
  • Jun 18, 2015 4:12am Jun 18, 2015 4:12am
Thanks for sharing @Dkam.

I'm still with them and very happy. I even managed to get a DARWIN up and running on their exchange, but I eventually blew up that account. Working on a few more strategies now with much better risk management.
  • #13
  • Jun 18, 2015 8:10am Jun 18, 2015 8:10am
Quoting alphatek
Thanks for sharing @Dkam. I'm still with them and very happy. I even managed to get a DARWIN up and running on their exchange, but I eventually blew up that account. Working on a few more strategies now with much better risk management.
I can't even get real access to Darwinia yet lol
  • #14
  • Jun 18, 2015 1:49pm Jun 18, 2015 1:49pm
Quoting alphatek
Thanks for sharing @Dkam. I'm still with them and very happy. I even managed to get a DARWIN up and running on their exchange, but I eventually blew up that account. Working on a few more strategies now with much better risk management.
I didn't even know about the requirements, their website is so unclear.
Contacted customer support, yesterday with a few other questions i had very fast but also very clear and well explained answers.
Let's see what this question gives.

Update: Very nice answer with all the information, and even more then i asked for within 15 minutes. Customer support seems great!
Any trader who is trading live who can confirm this?
Who knows they are only doing this for potential new traders
  • #15
  • Jun 18, 2015 2:16pm Jun 18, 2015 2:16pm
Quoting Dkam
{quote} I didn't even know about the requirements, their website is so unclear. Contacted customer support, yesterday with a few other questions i had very fast but also very clear and well explained answers. Let's see what this question gives. Update: Very nice answer with all the information, and even more then i asked for within 15 minutes. Customer support seems great! Any trader who is trading live who can confirm this? Who knows they are only doing this for potential new traders
Their customer support is the best I've experienced with any company period lol. I've spoken to the head of customer service for at least an hour. An actual proper conversation about forex lol
  • #16
  • Jun 20, 2015 2:49am Jun 20, 2015 2:49am
lmax demo account gbpnzd monthly chart
darwinex live account gbpnzd monthly chart
other broker live account gbpnzd monthly chart.

in case of this pairs,
lmax demo account chart = darwinex live account chart.(long spike)
I don`t know lmax live account gbpnzd monthly.
but i know lmax demo environment and live environment is diffent.
lmax live supporter said to me so.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPNZD.lmxMonthly.png Size: 55 KB
Click to Enlarge Name: darwinexGBPNZD.Monthly.png Size: 65 KB
Click to Enlarge Name: otherbrokerGBPNZDMonthly.png Size: 69 KB
  • #17
  • Jun 22, 2015 7:39am Jun 22, 2015 7:39am
darwinex's userers,
please reply my post.
  • #18
  • Jun 22, 2015 9:28pm Jun 22, 2015 9:28pm
Quoting entheos
darwinex's userers, please reply my post.
What would you like to know?
My live chart with Darwinex does have this spike yes.
  • #19
  • Jun 27, 2015 4:06am Jun 27, 2015 4:06am
Quoting Dkam
{quote} What would you like to know? My live chart with Darwinex does have this spike yes.
other brokers and other fx sites have not this spike.
It is lmax only.
  • #20
  • Jun 27, 2015 4:45pm Jun 27, 2015 4:45pm
Lmax live account - no spike.
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