LMAX soft launches MT4
LMAX was established and is majority owned by Betfair, the world’s leading sports betting exchange. LMAX launched in October 2010
LMAX was established and is majority owned by Betfair, the world’s leading sports betting exchange. LMAX launched in October 2010 after nearly three years of development. Based in the UK, LMAX is authorised and regulated by the Financial Services Authority as a Multi-Lateral Trading Facility (“MTF”) making it first Europe’s MTF for trading FX and CFD instruments. LMAX enables both private and institutional investors to trade directly on the exchange.
Spot FX is an OTC product which means it is decentralized and deregulated. This means that basically any forex broker is a trading venue on its own which explains different spreads and pricings. The idea of creating a spot fx exchange is not new and FXMarketSpace was an initiative by CME and Reuters however it was shut down after about a year. Other exchanges like CME, ICE and DGCX only offer futures and options on currencies, making LMAX the only known spot fx exchange.
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One of the biggest problems of spot fx exchanges is attracting liquidity, providing advanced trading platforms attractive to both retail and institutional investors and in general being attractive to retail investors (LMAX minimum account size is $10,000 as opposed to no minimum at all with some brokers).
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For now, LMAX is not doing very well financially and last year it reported a £13.2 million loss.
LMAX is now trying to attract retail traders by offering a MT4. As detailed on Trading Gurus getting an MT4 account is not easy, probably because it’s either still in soft launch or because LMAX is not very interested in actively promoting it. This reminds of eToro’s MT4 soft launch – you still can’t find MT4 on its site although eToro launched MT4 long time ago.
It would be interesting to see if LMAX lowers its minimal deposit requirements and whether the retail acceptance of this venue would increase. To make sure this happens LMAX should become much more aggressive on marketing to both market segments.
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They have a partner called ‘Armada Markets’ who markets their MT4 and you even pay less commissions with tham than directly at lmax. Only thing i dont like is that they are based in Estonia – and i know pretty much nothing about est. regulation. Not comfortable sending money over there.
They also have an american IB (FastBrokers) who introduces clients to them, they have their own trading platform. It looks like the plan is to have multiple IBs and partner-brokers who should aquire clients. See: http://partners.lmax.com/
They have a partner called ‘Armada Markets’ who markets their MT4 and you even pay less commissions with tham than directly at lmax. Only thing i dont like is that they are based in Estonia – and i know pretty much nothing about est. regulation. Not comfortable sending money over there.
They also have an american IB (FastBrokers) who introduces clients to them, they have their own trading platform. It looks like the plan is to have multiple IBs and partner-brokers who should aquire clients. See: http://partners.lmax.com/
With fastbrokers you can either use the regular web-based LMAX frontend or their own platform called Pathtrader (connected to lmax via fix).
I’m not sure if its the right strategy for lmax to send smalltimers to an unregulated estonian firm.
With fastbrokers you can either use the regular web-based LMAX frontend or their own platform called Pathtrader (connected to lmax via fix).
I’m not sure if its the right strategy for lmax to send smalltimers to an unregulated estonian firm.
Andy is correct. There are more IBs aside that list and seems all can offer minimum accounts lower than the required 10k they put for direct clients.
There are also couple of trading software integrated as well, however the only one I found out being fully integrated and adding some features to them is indeed Pathfinder Trader offered by Fastbrokers, (which is also a regulated brokers)
Andy is correct. There are more IBs aside that list and seems all can offer minimum accounts lower than the required 10k they put for direct clients.
There are also couple of trading software integrated as well, however the only one I found out being fully integrated and adding some features to them is indeed Pathfinder Trader offered by Fastbrokers, (which is also a regulated brokers)
I waited forever for them to make MT4 available…only to discover that minimum traded lot is .1 (yes, I like trading with micro lots – I still use a Martigale strategy!).
Seems like a good company otherwise.
I waited forever for them to make MT4 available…only to discover that minimum traded lot is .1 (yes, I like trading with micro lots – I still use a Martigale strategy!).
Seems like a good company otherwise.
Been trading with Armada Markets for a month already. Same LMAX spreads, same liquidity. Very nice customer service. Have made a 11% profit already. I am not sure about alphanovae.com or fast brokers. LMAX really rocks!
Been trading with Armada Markets for a month already. Same LMAX spreads, same liquidity. Very nice customer service. Have made a 11% profit already. I am not sure about alphanovae.com or fast brokers. LMAX really rocks!
It’s embarrassing for CNBC to keep someone like that if you ask me. Drew however seems a bit uneasy while he should have taken the opportunity and explain retail spot fx from A to Z in less than 2 minutes.
It’s embarrassing for CNBC to keep someone like that if you ask me. Drew however seems a bit uneasy while he should have taken the opportunity and explain retail spot fx from A to Z in less than 2 minutes.
Hi All,
as stated by Michael, Alpha Novae is a technology provider.
You can sign to LMAX through our offer to benefits from discounts on our technical and consulting services and tools. We are specialized in algorithmic trading. But about your trading and application you will only deal with LMAX.
For french readers, they will find our active french speaking LMAX forum here: http://www.trading-automatique.fr/index.php?option=com_agora&task=forum&id=34&Itemid=2
Hi All,
as stated by Michael, Alpha Novae is a technology provider.
You can sign to LMAX through our offer to benefits from discounts on our technical and consulting services and tools. We are specialized in algorithmic trading. But about your trading and application you will only deal with LMAX.
For french readers, they will find our active french speaking LMAX forum here: http://www.trading-automatique.fr/index.php?option=com_agora&task=forum&id=34&Itemid=2
Is Alpha Novae regulated or how are they able to send clients to LMAX?
Is Alpha Novae regulated or how are they able to send clients to LMAX?
What is funny about minimal deposit at LMAX is that is *WAS* $1000 not so long ago… (6 months ?)
What is funny about minimal deposit at LMAX is that is *WAS* $1000 not so long ago… (6 months ?)
You can start trading with as little as 200 USD with LMAX spreads and execution. This can be done with Armada Markets who is an introducing broker of LMAX. Their commission is 20 per million which is also very competitive. I have been trading for a month there.
You can start trading with as little as 200 USD with LMAX spreads and execution. This can be done with Armada Markets who is an introducing broker of LMAX. Their commission is 20 per million which is also very competitive. I have been trading for a month there.
Yes, they changed it a few weeks ago from $1000 to $10000.
Yes, they changed it a few weeks ago from $1000 to $10000.