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Author Topic: LMAX  (Read 73284 times)

Offline twonny

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LMAX
« on: May 21, 2012, 09:51:23 AM »
Right so I'm guessing LMAX fall under this category?
Ive bitten the bullet and am about to entrust my hard earned cash with these guys, with the hope of seeing some growth over the next few years. So far I am going to be using FGB on default to begin with, then I will possibly be adding Cleaner and perhaps an impulsive scalper, such as number one or MDP on very low risk.

My question is has anybody been using them? And if so what have they been like?

http://www.lmax.com/

Offline Anchorpoint

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Re: LMAX
« Reply #1 on: May 21, 2012, 10:11:53 AM »
Right so I'm guessing LMAX fall under this category?
Ive bitten the bullet and am about to entrust my hard earned cash with these guys, with the hope of seeing some growth over the next few years. So far I am going to be using FGB on default to begin with, then I will possibly be adding Cleaner and perhaps an impulsive scalper, such as number one or MDP on very low risk.

My question is has anybody been using them? And if so what have they been like?

http://www.lmax.com/

Have been using them since two months. Good execution and very low slippage. Works fine for my trading style. Not using impulsive scalpers. I had NMI and Number One running for a month with roughly break even results.
Anything can happen - every moment in the market is unique

Offline muzzamcc

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Re: LMAX
« Reply #2 on: May 21, 2012, 10:17:38 AM »
Sounds like a good plan you have there, all are good EA's you have listed. I have never used LMAX but the NumberOne vendors are recommending them. Unfortunately the results on tick/impulsive scalping seems not that great on LMAX at the moment, but they are talking about designing the EA around it. But they should be fine for Growthbot and Cleaner I'm pretty sure.

Can I recommend you checkout Super Scalper too if you are keen on tick scalpers. ;) Disclaimer, I work for them. MODS feel free to delete if i crossed a line here.

Offline twonny

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Re: LMAX
« Reply #3 on: May 21, 2012, 11:13:51 AM »
Muz sorry I actually meant super scalper, not number one as I would not support those arrogant Italians! So I'm guessing then that super scalper is not so hot on LMAX? that really is a pity as I had prety high hopes.. Any other eas worth adding?

Offline muzzamcc

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Re: LMAX
« Reply #4 on: May 21, 2012, 12:23:27 PM »
Muz sorry I actually meant super scalper, not number one as I would not support those arrogant Italians! So I'm guessing then that super scalper is not so hot on LMAX? that really is a pity as I had prety high hopes.. Any other eas worth adding?
PM'd you so as to keep this on topic about LMAX

Offline robl45

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Re: LMAX
« Reply #5 on: May 21, 2012, 12:26:45 PM »
unless i'm missing something crucial, you'd be better off using armada markets instead of lmax directly.  better options and lower commissions.

Offline LFN

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Re: LMAX
« Reply #6 on: May 21, 2012, 04:42:46 PM »
Why was this topic removed from Grade A Brokers section?
LMAX is FSA regulated.

http://www.lmax.com/exchange

Offline twonny

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Re: LMAX
« Reply #7 on: May 21, 2012, 06:29:13 PM »
I agree as well as fully segregated funds??  Rob i wouldnt use armada as they are not regulated.

Offline robl45

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Re: LMAX
« Reply #8 on: May 21, 2012, 06:29:31 PM »
Why was this topic removed from Grade A Brokers section?
LMAX is FSA regulated.

http://www.lmax.com/exchange

I been wondering the same thing about this and armada

Offline robl45

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Re: LMAX
« Reply #9 on: May 21, 2012, 06:31:03 PM »
I agree as well as fully segregated funds??  Rob i wouldnt use armada as they are not regulated.

Who says? They are regulated and they are a direct partner of lmax

Offline crashev

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Re: LMAX
« Reply #10 on: May 21, 2012, 06:47:48 PM »
Just to: FxPig is also connected to LMAX, or LMAX is just one of FxPig's

Also this broker is connected to LMAX and has LMAX type of account => http://www.rvdmarkets.com/

LMAX has very weak spreads and liquidity during Asian session. I think it will grow with time, but who knows how many years it will take to make it bigger and better suitable.
Right now there are much better choice for different strategies.

Offline twonny

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Re: LMAX
« Reply #11 on: May 22, 2012, 03:32:22 PM »
Ok I see that Armada is now regulated, I was sure they were not before..

Offline Anchorpoint

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Re: LMAX
« Reply #12 on: May 25, 2012, 08:34:12 PM »
WARNING

There has today been some very big technical malfunction on the EURUSD pair resulting in heavy losses for clients. During a period of 10 min between 1616-1625 GMT it perpetually made buys/sells on EU resulting in for me more than 200 transactions losing 10% of my account value!!

LMax is currently investigating this and will get back to clients as soon as they know more of what the causes where and how they will handle this with their clients. I except nothing else than (at least) a full compensation for lost account balance.  >:(

Attached is example of my account and recent chat with LMax customer support.  Will keep you updated how this progresses.

This is a very very concerning incident !
Anything can happen - every moment in the market is unique

Offline Anchorpoint

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Re: LMAX
« Reply #13 on: May 25, 2012, 09:09:33 PM »
WARNING

There has today been some very big technical malfunction on the EURUSD pair resulting in heavy losses for clients. During a period of 10 min between 1616-1625 GMT it perpetually made buys/sells on EU resulting in for me more than 200 transactions losing 10% of my account value!!

LMax is currently investigating this and will get back to clients as soon as they know more of what the causes where and how they will handle this with their clients. I except nothing else than (at least) a full compensation for lost account balance.  >:(

Attached is example of my account and recent chat with LMax customer support.  Will keep you updated how this progresses.

This is a very very concerning incident !

And here is a pic of the price spike causing the mess above. Unbelievable that this happens on a supposedly professional trading  platform like LMax  ::)
Anything can happen - every moment in the market is unique

Offline Kevin @ FXPIG

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Re: LMAX
« Reply #14 on: May 25, 2012, 09:29:56 PM »

The majority of LMAX's LPs feeding into their platform are banks. 'False Ticks' are common place at several large banks. In the past on our DMA feed we say this type of pricing from Barlcays, Goldman Sachs, etc.

LMAX's FIX is evolving so they must not yet have a filter that can better detect these type of errors. No filter is perfect and this can happen and will happen at any broker, but the more LPs you have and the better your API is will lessen the probability of seeing these errors on a frequent basis.

That being said I have NO doubt that they will reset all accounts that were effected by this issue.

Cheers,
skype. fxpig.kevin

 

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