They just integrated MultiCharts support... It is very RARE to be able to trade CFDs with a quality trading platform (NT or MC)
They received award for their FX+CFD exchange which enables them to offer spreads+commissions at very competitive rates, averaging 0,85 pips all included on EUR/USD, which is about avg Dukascopy spread without commissions!
They also offer free API development kits (usually CFD brokers require funded live accounts for that)
All in all, they seem very dedicated in their quest to obtain FX/CFD leadership in their field.
My questions so far were replied quickly.
If some people have live accounts opened, I'd also like to hear about it.
Last edited by SARdynamite; October 22nd, 2011 at 07:14 PM.
Ok so I managed to gather feedback from a french automated trading website/forum.
Right now LMAX MultiCharts is a customised MultiCharts for LMAX only (I guess it was a special development to match CFD specific requirements). It is said MultiCHarts is not advertising LMAX as a supported broker yet (I did not check) but might turn it into "default MC" and official broker in the coming weeks.
LMAX MC is free for deposits more than $5000 for year 2011 and then will be leased $60/month (or free if you trade 250 "contracts" and up ... info to be verified, especially how is defined the term "contract" regarding their CFD and FX offer)
Users could not find any truncated features between LMAX MC and regular MC.
Now about performance stuff reported from the LMAX+MC bundle, here's what is reported so far :
- datafeed to be "way more precise than MB Trading one and about half a second in advance"
Video to check here (indeed, sharp constrat can be seen!!)
- historical data integration however is said to need some fixes for now and have some gaps at some points regarding minute data. Hope this is fixed later on.
Historical tick data is said to be better quality (no holes) but not going back too far in # of days on some particular forex pairs
- spreads are said to be "amazing" , "down to 0,2 pips with incredible smoothness"
(this one can definitely impress but market conditions must have been good because they measure their own average weekly spread and it is reporting at 0,5 pips day to day (+ about 0,35 commissions to add / lot). You can find those stats here http://www.lmaxtrader.co.uk/average-spreads )
- finally live datafeed is said to be much better than the demo one which has "a lot less ticks received" on the platform. So, do not rely on it to get a proper opinion about real trading conditions
Hope this helps. For now, it sounds like a nice appealing rabbit.
Last edited by SARdynamite; October 22nd, 2011 at 09:10 PM.