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LMAX review
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LMAX review

  #1 (permalink)
Market Wizard
Reading UK
 
Futures Experience: None
Platform: Sierra
Broker/Data: Lmax
Favorite Futures: My 3 boys
 
Grantx's Avatar
 
Posts: 806 since Oct 2016
Thanks: 732 given, 988 received
Forum Reputation: Legendary

LMAX review

I have recently signed up with LMAX and today placed my first live trade. The review here is my opinion on the service thus far. It might change in the future the longer I am with them but for now this is what it is:

• Opening the account was easy.
• The LMAX web interface is very simple and very easy to use. Just the way I like it, no bells or whistles.
• Getting in touch with them is very easy. You can phone them anytime, or use the online chat. I have used the online chat probably 7 times now and each time I was connected and talking to someone in less than a minute.
• I have also emailed questions to the tech support which were efficiently answered/resolved.
• Support staff are knowledgeable and helpful.
• Trade execution/fill is instant. As soon as I entered my trade it showed up on the LMAX trading interface.
• The spread that LMAX offer on Gold is still something I cannot get over. European session it averages between 4 – 10 ticks! When the mericans come online it frequently gets to zero! No kidding, check it out for yourself. I recorded the spread through the last NFP and the worst I saw it get to was still less than 50. For those of you trading spot Gold you will know that most brokers average around 40-60 on a good day.
• The charting they offer is a really beautiful piece of software. They use it-finance.com charting and I must say that I was very impressed. Very clean, simple package developed in Java. For those of you that like fancy looking charts then you have a good selection of indicators to use. You cannot trade off of the charts though.
• Configuring LMAX to work with Sierra is pretty straight forward. The only thing is that Sierra quantity of 10 = LMAX quantity of 1.
• The swap rates seem higher than normal so the 'edge' you get with lower spread will be eroded somewhat if you intend holding longer term.

All in all, I’m pretty happy so far. I was sceptical of LMAX at first (maybe because the ceo’s face annoys me - but thats no reason is it?) but so far so good.

Cheers and good luck.

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  #2 (permalink)
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  #3 (permalink)
Sharpening mental edge
the congo
 
Futures Experience: Advanced
Platform: North sea oil rig
Favorite Futures: Cl
 
rassi's Avatar
 
Posts: 769 since Jun 2009
Thanks: 1,037 given, 805 received
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Grantx View Post
I have recently signed up with LMAX and today placed my first live trade. The review here is my opinion on the service thus far. It might change in the future the longer I am with them but for now this is what it is:

•Opening the account was easy.
•The LMAX web interface is very simple and very easy to use. Just the way I like it, no bells or whistles.
•Getting in touch with them is very easy. You can phone them anytime, or use the online chat. I have used the online chat probably 7 times now and each time I was connected and talking to someone in less than a minute.
•I have also emailed questions to the tech support which were efficiently answered/resolved.
•Support staff are knowledgeable and helpful.
•Trade execution/fill is instant. As soon as I entered my trade it showed up on the LMAX trading interface.
•The spread that LMAX offer on Gold is still something I cannot get over. European session it averages between 4 – 10 ticks! When the mericans come online it frequently gets to zero! No kidding, check it out for yourself. I recorded the spread through the last NFP and the worst I saw it get to was still less than 50. For those of you trading spot Gold you will know that most brokers average around 40-60 on a good day.
•The charting they offer is a really beautiful piece of software. They use it-finance.com charting and I must say that I was very impressed. Very clean, simple package developed in Java. For those of you that like fancy looking charts then you have a good selection of indicators to use. You cannot trade off of the charts though.
•Configuring LMAX to work with Sierra is pretty straight forward. The only thing is that Sierra quantity of 10 = LMAX quantity of 1.
•The swap rates seem higher than normal so the 'edge' you get with lower spread will be eroded somewhat if you intend holding longer term.

All in all, I’m pretty happy so far. I was sceptical of LMAX at first (maybe because the ceo’s face annoys me - but thats no reason is it?) but so far so good.

Cheers and good luck.



Just had a look, he does have an annoying boat!


Sent using the futures.io mobile app

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  #4 (permalink)
Elite Member
freasno, ca usa
 
Futures Experience: Advanced
Platform: ninja trader
Favorite Futures: forex
 
Posts: 41 since Apr 2013
Thanks: 14 given, 15 received

Never even heard of LMAX until today where are they based out of, who do they clear through, where are funds held???

Sent using the futures.io mobile app

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  #5 (permalink)
Market Wizard
Reading UK
 
Futures Experience: None
Platform: Sierra
Broker/Data: Lmax
Favorite Futures: My 3 boys
 
Grantx's Avatar
 
Posts: 806 since Oct 2016
Thanks: 732 given, 988 received
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planetmoto View Post
Never even heard of LMAX until today where are they based out of, who do they clear through, where are funds held???

Sent using the futures.io mobile app

https://www.lmax.com/about

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  #6 (permalink)
Keab
London UK
 
Futures Experience: Intermediate
Platform: TT/Invesotr Rt/DTN.IQ
Broker/Data: LCT/Iq Feed
Favorite Futures: Dax/Bund/Dow/US 10 yr futures
 
Posts: 284 since Jul 2013
Thanks: 40 given, 98 received

"The LMAX Exchange order book is driven only by streaming limit-orders from top tier banks and proprietary trading firms, ensuring that true transaction costs are known."

So the liquidity pool is deep and LMAX is an ECN. Important to know when the arse drops out of a market e.g. CHF so you're going to get a decent execution on the real market and not a synthetic broker one which all the bucket shops use.

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  #7 (permalink)
Market Wizard
Reading UK
 
Futures Experience: None
Platform: Sierra
Broker/Data: Lmax
Favorite Futures: My 3 boys
 
Grantx's Avatar
 
Posts: 806 since Oct 2016
Thanks: 732 given, 988 received
Forum Reputation: Legendary

Ive been live trading with them for a few weeks now and order fills are instantaneous. Worst slippage so far on a stop out has been 2 ticks.
Something else I was unaware was possible with forex is the ability to see liquidity.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


All in all Im still happy with my decision.

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  #8 (permalink)
Keab
London UK
 
Futures Experience: Intermediate
Platform: TT/Invesotr Rt/DTN.IQ
Broker/Data: LCT/Iq Feed
Favorite Futures: Dax/Bund/Dow/US 10 yr futures
 
Posts: 284 since Jul 2013
Thanks: 40 given, 98 received


Grantx View Post
Ive been live trading with them for a few weeks now and order fills are instantaneous. Worst slippage so far on a stop out has been 2 ticks.
Something else I was unaware was possible with forex is the ability to see liquidity.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


All in all Im still happy with my decision.

It's not all forex it's Lmax as they show the liquidity pool/depth of market on their bid/ask

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