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LMAX = revolution?!?

  • #1,801
  • Dec 18, 2014 8:42am Dec 18, 2014 8:42am
LMAX is not "exchange" as they said,

I have withdraw all my money back today.

Two Days ago LMAX suddenly change their margin requirement for USD/RUB to 100% for within 1 hours it closed my USD/RUB short position. Before that my maintain margin is sufficient.

They "robbed" me $3,688 in this way.

The said this is reasonable because in User Agreement 10.5.4 they can change the margin requirement without notify customers.

Margin Requirement of 100% ? Do you believe it? This is almost a policy that they can close any customer's position if they want.

They say they are "Exchange". A joke?

To me they have no credit at all.
  • #1,802
  • Dec 18, 2014 11:18am Dec 18, 2014 11:18am
I had the same problem yesterday... LMAX closed my position at 69.03.. resultat -4946$ //// ouch
  • #1,803
  • Dec 18, 2014 11:24am Dec 18, 2014 11:24am
Quoting shoofra
Lmax will not appreciate you business. That is being said to me with these words exactly. Along the years I was Lmax partner, retail trader and corporate account holder. no mater what hat I had with them, Lmax always reply with mannered hostility, throw responsibility back you, and show no appreciation for your business with them. Maybe they are not the nicest people to work with, but same with the technology they provide. In summery lmax provide lowe technology service for traders, for partners (no back office) and for clients. Their MT4 platform...
How is LMAX with Multicharts? Multicharts seems a much better platform than MT4 for this kind of thing... also what about PathFinder ? I mean MT4 bridge problems are hardly isolated to LMAX. MT4 just wasn't really designed for API trading.
  • #1,804
  • Dec 18, 2014 11:29am Dec 18, 2014 11:29am
Quoting mmx007
LMAX is not "exchange" as they said, I have withdraw all my money back today. Two Days ago LMAX suddenly change their margin requirement for USD/RUB to 100% for within 1 hours it closed my USD/RUB short position. Before that my maintain margin is sufficient. They "robbed" me $3,688 in this way. The said this is reasonable because in User Agreement 10.5.4 they can change the margin requirement without notify customers. Margin Requirement of 100% ? Do you believe it? This is almost a policy that they can close any customer's position if they want....
FXCM is going to stop rouble trading altogether... price moves were extreme (even without leverage)
  • #1,805
  • Dec 19, 2014 11:47pm Dec 19, 2014 11:47pm
Quoting ycomp
{quote} FXCM is going to stop rouble trading altogether... price moves were extreme (even without leverage)
Yes, they are both wrong. FXCM sent notify to many people about 12 hours before at least.

But LMAX iet me feel much more sick.

Firstly, they actually did't send any notify. An email only 8 minutes before they raise margin requirement means nothing.

Secondly, margin requirement for 100% is very unreasonable. This is not "raising margin requirement" as they explain, this is just force every client to close their position.

So the client lost their money and they get it.

This is just naked and shamed robbery.
  • #1,806
  • Dec 21, 2014 6:58pm Dec 21, 2014 6:58pm
the last 1 or 2 minutes of this vid is great...

Inserted Video


I'm not defending lmax or anything, just saying I'm not surprised
  • #1,807
  • Edited 10:33am Jan 13, 2015 10:17am | Edited 10:33am
Hi guys, I have one question about LMAX MT4 and WebClient platform. By watching 1H charts, I find, for every week, the first bar of the week starts from Sunday 22:05 in both platforms, however, in MT4 platform, the last bar of the week begins at Friday 20:00 and in WebClient platform, the last bar of the week begins at Friday 21:00, which means there are 1 hour data missing in MT4 platform for every week.

I have sent an email to LMAX regarding this issue, no reply yet. Does anybody else in here notice the difference between the LMAX MT4 and WebClient platform?
  • #1,808
  • Jan 26, 2015 6:03am Jan 26, 2015 6:03am
How about price improvements? Have you seen any of them at LMAX when using MetaTrader or any other standalone application?

What I mean is perhaps better known as positive slippage, since we are talking forex, not equities. After all, execution prices in equities are on average improved from order limit prices by as much as the broker's commissions charged for passing those orders to the stock exchanges... Until that happens (without using browser for trading or paying hundreds a month for the API or a third-party soft), LMAX will remain just what it seems to be - the bank dealer's source of easy spread scalping income through client's "order flow" coming from MT4 bridges.

Time to ask the LMAX team before we ask the Advertising Standards Authority: is it decent, legal, honest and truthful to call yourself an MTF (and sometimes even "exchange") and not offer any price improvements to any of the poorest users (who prefer to use a stand-alone piece of software they are accustomed to rather than a clumsy and inflexible web interface)? And yes, genuine limit orders submission from MetaTrader is technically possible - there are some examples such as MB Trading (who even pay rebates for limit orders, true ECN-style). Time to demand the same from LMAX.
  • #1,809
  • Feb 20, 2015 2:50am Feb 20, 2015 2:50am
Anyone using the Prorealtime charts on the web platform? How far back in history does the 15 minute chart go?
  • #1,810
  • Feb 21, 2015 1:49pm Feb 21, 2015 1:49pm
Quoting shoofra
Lmax will not appreciate you business. That is being said to me with these words exactly. Along the years I was Lmax partner, retail trader and corporate account holder. no mater what hat I had with them, Lmax always reply with mannered hostility, throw responsibility back you, and show no appreciation for your business with them. Maybe they are not the nicest people to work with, but same with the technology they provide. In summery lmax provide lowe technology service for traders, for partners (no back office) and for clients. Their MT4 platform...

absolutely.they dont hv any respect towards the customers. Always having stupid regulations.
  • #1,811
  • Mar 12, 2015 10:45am Mar 12, 2015 10:45am
this is just demo mt4 but made me wondering if this is real.
anybody?
Attached Image (click to enlarge)
Click to Enlarge Name: lmax.jpg Size: 176 KB
Don't mind me.. i'm crazy
  • #1,812
  • Mar 12, 2015 4:56pm Mar 12, 2015 4:56pm
purevenom: i just checked and i dont have these spikes on a live account (with multicharts/api, i dont use mt4).
  • #1,813
  • Mar 13, 2015 8:52am Mar 13, 2015 8:52am
Quoting shrike
purevenom: i just checked and i dont have these spikes on a live account (with multicharts/api, i dont use mt4).
thanks for the response shrike.i tried clearing my log and reload it still same result.but good to hear that in live that spike didn't happen.i have a plan to open new account with lmax after i heard some good review.maybe i should stay away from the mt4
Don't mind me.. i'm crazy
  • #1,814
  • Apr 2, 2015 4:34pm Apr 2, 2015 4:34pm
Hi guys

Could you tell me what is the XAUDUSD average spread?

Thank you.
  • #1,815
  • Apr 2, 2015 9:11pm Apr 2, 2015 9:11pm
Quoting Unabletrader
Hi guys Could you tell me what is the XAUDUSD average spread? Thank you.

http://www.lmax.com/popup-average-sp...30&iframe=true
  • #1,816
  • Jul 14, 2015 10:48am Jul 14, 2015 10:48am
Now after I've withdrawn my money I'll tell you about the so to say "revolution".
They widened spread till at least 28.3 pips at 2015.06.23 7:30:00 UTC 0.
That time the minor news on Germany were released.
I've checked in truefx.com, DUKASCOPY and other broker's ticks history (you can see below) and have seen that highest Ask price that time was 1.12824, which is much far from my stop loss (1.12919).
Now look what they did - they closed my order with slippage 16.9 pips at price 1.13088 !!!!!!
I've lost a lot of money and now I tell it here. Everyone should know about this "revolution".
Later I'll submit request to FCA.
I'm ready to sign below every word in this post in court.

DUKASCOPY ticks:
EUR/USD,1.12715,1.12725,06.23.2015 07.29.59.290,3
EUR/USD,1.12777,1.12788,06.23.2015 07.30.00.278,3
EUR/USD,1.12784,1.12795,06.23.2015 07.30.00.380,3
EUR/USD,1.12784,1.12792,06.23.2015 07.30.00.431,3
EUR/USD,1.12788,1.12799,06.23.2015 07.30.00.686,3

INTEGRAL (www.truefx.com) ticks:
EUR/USD,20150623 07:29:59.108,1.12684,1.12759
EUR/USD,20150623 07:29:59.774,1.12684,1.12755
EUR/USD,20150623 07:30:00.052,1.127,1.12766
EUR/USD,20150623 07:30:00.053,1.12721,1.12766
EUR/USD,20150623 07:30:00.054,1.12718,1.12766
EUR/USD,20150623 07:30:00.058,1.12728,1.12766
EUR/USD,20150623 07:30:00.059,1.12726,1.12766
EUR/USD,20150623 07:30:00.069,1.12727,1.12766
EUR/USD,20150623 07:30:00.073,1.12728,1.12766
EUR/USD,20150623 07:30:00.080,1.12727,1.12766
EUR/USD,20150623 07:30:00.082,1.12723,1.12766
EUR/USD,20150623 07:30:00.092,1.12728,1.12766
EUR/USD,20150623 07:30:00.111,1.12728,1.12821
EUR/USD,20150623 07:30:00.116,1.12747,1.12826
EUR/USD,20150623 07:30:00.117,1.12732,1.12826
EUR/USD,20150623 07:30:00.151,1.12734,1.12824
EUR/USD,20150623 07:30:00.192,1.12739,1.12826
EUR/USD,20150623 07:30:00.211,1.12739,1.12811
EUR/USD,20150623 07:30:00.212,1.12734,1.12811
EUR/USD,20150623 07:30:00.250,1.12734,1.12824
EUR/USD,20150623 07:30:00.251,1.12729,1.12819
EUR/USD,20150623 07:30:00.272,1.12734,1.12824
EUR/USD,20150623 07:30:00.275,1.12746,1.12826
EUR/USD,20150623 07:30:00.311,1.12746,1.12814
EUR/USD,20150623 07:30:00.410,1.12746,1.12821
EUR/USD,20150623 07:30:00.639,1.12748,1.12821
EUR/USD,20150623 07:30:00.671,1.12755,1.12821
EUR/USD,20150623 07:30:00.708,1.12755,1.12829
EUR/USD,20150623 07:30:00.773,1.12763,1.12829
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Wrong order closure.jpg Size: 690 KB
Click to Enlarge Name: Wrong order closure1.jpg Size: 675 KB
  • #1,817
  • Jul 18, 2015 4:24am Jul 18, 2015 4:24am
[报价=伯劳; 7029732] {}报价还有另外一个与IB $ 40 /百万轮匝佣金，你不必等待一个月的回扣任。更好的让了他$ 38 - ！你想保持竞争力[/报价]
PLS Inform this IB,thank you！
  • #1,818
  • Jul 18, 2015 5:02am Jul 18, 2015 5:02am
Hi,
how can get tick history?

Quoting sc0rpi0n
Now after I've withdrawn my money I'll tell you about the so to say "revolution". They widened spread till at least 28.3 pips at 2015.06.23 7:30:00 UTC 0. That time the minor news on Germany were released. I've checked in truefx.com, DUKASCOPY and other broker's ticks history (you can see below) and have seen that highest Ask price that time was 1.12824, which is much far from my stop loss (1.12919). Now look what they did - they closed my order with slippage 16.9 pips at price 1.13088 !!!!!! I've lost a lot of money and now I tell it here. Everyone...
  • #1,819
  • Jul 18, 2015 5:53am Jul 18, 2015 5:53am
http://eareview.net/tick-data/download-free-tick-data
  • #1,820
  • Aug 16, 2015 12:43am Aug 16, 2015 12:43am
Quoting mmx007
LMAX is not "exchange" as they said, I have withdraw all my money back today. Two Days ago LMAX suddenly change their margin requirement for USD/RUB to 100% for within 1 hours it closed my USD/RUB short position. Before that my maintain margin is sufficient. They "robbed" me $3,688 in this way. The said this is reasonable because in User Agreement 10.5.4 they can change the margin requirement without notify customers. Margin Requirement of 100% ? Do you believe it? This is almost a policy that they can close any customer's position if they want....
hi,
Can you explain more detail?
they are offer 100 leverage only.
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