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LondonFX 2 replies

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LondonFX dicussion

  • #1
  • First Post: Jun 27, 2015 6:41am Jun 27, 2015 6:41am
http://londonfx.com/en/main
Anyone have experience with this broker?
  • #2
  • Jul 13, 2015 3:36am Jul 13, 2015 3:36am
I Have a live Pro ECN account there. It looks good for now. The spreads are very low. They dont have alot of instruments but the support told me that if I want something special they can add it.
  • #3
  • Jul 13, 2015 6:05am Jul 13, 2015 6:05am
Quoting kvv888
I Have a live Pro ECN account there. It looks good for now. The spreads are very low. They dont have alot of instruments but the support told me that if I want something special they can add it.
I want to know they are true ecn or false.
  • #4
  • Jul 13, 2015 8:39am Jul 13, 2015 8:39am
Their FCA licence says "Activity Name: Dealing in investments as agent" Which means they cant "market make" http://www.fsa.gov.uk/register/firmP....do?sid=200097 you can check this information for every FCA regulated broker on the website of FCA at http://www.fsa.gov.uk/register/firmSearchForm.do You need only the Firm Reference Number for London FX you can find it here: http://londonfx.com/en/fcaregulation .
  • #5
  • Jul 13, 2015 3:22pm Jul 13, 2015 3:22pm
Quoting kvv888
Their FCA licence says "Activity Name: Dealing in investments as agent" Which means they cant "market make" http://www.fsa.gov.uk/register/firmP....do?sid=200097 you can check this information for every FCA regulated broker on the website of FCA at http://www.fsa.gov.uk/register/firmSearchForm.do You need only the Firm Reference Number for London FX you can find it here: http://londonfx.com/en/fcaregulation .
thank you.
  • #6
  • Jul 13, 2015 9:38pm Jul 13, 2015 9:38pm
http://londonfx.com/en/accounttypes

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Something smell here:

1k-3k-5k isn't a big difference in deposit
Only the spreads changes, this would ok
Minimum trade size 0.01 ( 1000 units) Like the Dukascopy EU.... I don't believe it is ECN execution
But it says: Market execution
If it true, then huge slippage can be with my 1k units until is collected to be 2-10 lot.

http://londonfx.com/en/news/39
"For example, most firms who are regulated by the FCA also have coverage by the Financial Services Compensation Scheme (FSCS). If you have an account with a broker, who is registered in the scheme, your account has protection against the broker going under. The amount guaranteed is usually £50 000 per client. The FSCS collects its funds from British financial institutions and is further backed by the government."
It is maybe true, and on that case it is fine for me
I want to buy PATIENCE
  • #7
  • Jul 14, 2015 1:17am Jul 14, 2015 1:17am
Quoting matheszabi
But it says: Market execution If it true, then huge slippage can be with my 1k units until is collected to be 2-10 lot.
Why?
  • #8
  • Jul 14, 2015 2:31am Jul 14, 2015 2:31am
Quoting kvv888
{quote} Why?
Take a look at level 2 market.
Do you see any position with 1-2k units?
I see 2 million 13 million and so on.
That's why!
I want to buy PATIENCE
  • #9
  • Jul 14, 2015 2:33am Jul 14, 2015 2:33am
"Our commission on the ProECN is $40 per million traded or $4/lot."

Until now I believed Dukascopy is the most expensivene broker, but it seems not...
I want to buy PATIENCE
  • #10
  • Jul 14, 2015 3:09am Jul 14, 2015 3:09am
I am trading with Pro ECN most of the times with 0.1 - 0.5 and I haven't noticed any slippage I will chek with 0.01. Most of the time the spread is 0.01 + 4$ commision (per lot) = 0.4 pips. And this looks expensive to you?
  • #11
  • Jul 14, 2015 7:30am Jul 14, 2015 7:30am
Did anyone ask them for a commission discount on higher volume?
  • #12
  • Jul 16, 2015 1:53am Jul 16, 2015 1:53am
Quoting JensG
Did anyone ask them for a commission discount on higher volume?
Nope. But there is no point asking us. Probably the most important thing is how high will be your volume so it does not matter what will they tell to someone else.
  • #13
  • Jul 16, 2015 7:21am Jul 16, 2015 7:21am
Quoting kvv888
I am trading with Pro ECN most of the times with 0.1 - 0.5 and I haven't noticed any slippage I will chek with 0.01. Most of the time the spread is 0.01 + 4$ commision (per lot) = 0.4 pips. And this looks expensive to you?
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I want to buy PATIENCE
  • #14
  • Jul 16, 2015 8:02am Jul 16, 2015 8:02am
Quoting kvv888
{quote} Nope. But there is no point asking us. Probably the most important thing is how high will be your volume so it does not matter what will they tell to someone else.
I was hoping someone got a price table from them and could share it. I'll send them an email.

@matheszabi:
dukas is only expensive when you're doing small volume, it scales pretty nicely according to the table.
  • #15
  • Aug 19, 2015 3:32am Aug 19, 2015 3:32am
Quoting matheszabi
"Our commission on the ProECN is $40 per million traded or $4/lot." Until now I believed Dukascopy is the most expensivene broker, but it seems not...
hi,
thank you for your post.
How long trade with this broker?
How mt4 status?
connection,freezing,,,,
  • #16
  • Last Post: Edited 8:15pm Nov 26, 2015 7:35pm | Edited 8:15pm
http://www.fca.org.uk/news/warnings/londonfx-clone

https://leaprate.com/2015/11/uks-fca...-ikon-capital/
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