LMAX - lowest spreads around

Broker Discussion Forex Brokers
1

Hi,
quite amazed that this entity hasnt received the kind of attention it deserves though they have been in existence for around 5 years and offer the lowest spreads of all…

lmax is based out of UK and regulated by FSA…you can compare their spreads with those of the others here:

myfxbook.com/forex-broker-spreads

u can clearly see that their spreads are way less than the others…they allow trading thru MT4, API, multicharts etc…i know people there right till the top through some other deal that i had with them and so i can help to get good deals with them if anyone is interested…if no one is interested, thats fine with me too…:slight_smile:

2

  1. the perceived spreads aren’t as important as you think.

  2. LMAX has a lousy marketing team or budget.

  3. Amongst more experienced guys I’ve spoken to there are still questions about their liquidity pool (rightly or wrongly - they aren’t effective at communicating the reality).

  4. They don’t offer money management facilities such as PAMM and last I checked their api platform didn’t offer market data that backfills.

Lowest spreads means nothing at face value, can they fill (on entry and exit) 5 standard lots with minimal slippage within milliseconds? They’re one to watch but a company like Dukascopy is effectively doing the same thing with their SWFX marketplace and enjoy a bit more maturity to folks looking for a stop gap before graduating to more advanced (more expensive) institutional venues.

Are you trading with LMAX? tell us about your experience.

3

I agree with modernmystery. I have also traded with LMAX, terrible slippage and spreads blow out in Asian session. I’m sure they will get better as they become more established, however at the moment i think there’s better out there.

4

Hi. The two brokers I use are pepperstone and LMAX. Pepperstone for about eight months, and LMAX about four. If I compare the two, LMAX fills are very fast and I don’t see any slippage issues. Saying that, I don’t trade larger than two standard lots (trading out of Australia). Pepperstone on the other hand has better spreads during the asian session, but you can wait significantly longer for the fill. (according to LMAX, average fill is 10ms) So making the tighter spread meaningless ( I don’t trade the news, so the delayed fills are during standard trading times.)

There is also the free multicharts from LMAX, which is great for order management and charting. I just don’t trust mt4 platforms that much. They fine for position trades, but not day trades. If anyone is interested, I can post screen shots of the live prices, and ticket management from the web platform.