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cablemonster
Yes its superb isnt it.
traderjoe1977
Newbie
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How does it compare with something like MetaTrader?
neil
Legendary member
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I think you need $10000 to open an account?
L
Liquid validity
So you are thinking of switching then?
Me too, porting problems I mentioned in pm aside,
LMAX is a no brainer, spreads 50% better then I get now...
I'm probably going to use NT as a signal generator, until
I get Multicharts sorted, NT add support or I find another way.
Forgot, yeah $10K USD, IB do the same thing as well.
Not a big problem if you are at reasonable size.
Might be more than you need to cover losing trades,
if you have more than a few trades open at a time,
you'd need 10k ish for margin anyway.
L
Liquid validity
L
Liquid validity
Cheers.
Already been finding my way around Multicharts for the last few days.
Nice can of worms I opened there, MC.net and Ninja both C#, but both have
a different code flow, but that is nothing to do with LMAX.
I had been hoping to use the standard LMAX platform in the interim.
Looks like I'll have to generate signals in NT, then execute manually
in multi until I get it all sorted.
be-positive
Veteren member
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maybe of interest to some http://www.sierrachart.com/index.php?l=doc/LMAX.php
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Liquid validity
Well done finding that, they use a FIX connection so its not advertised
as a front end on LMAX, going to have a good dig around, saying that
Amibroker should also connect via FIX.
Starting to get p1ssed off with NT's restrictive connection options.
Hoping NT8 will sort that, but with NT you never know, main focus is still
U.S. futures, even coverage for Asian exchanges is patchy...
BTW, found the LMAX platform pdf:
http://www.lmax.com/pdf/Trading-Manual.pdf
L
Liquid validity
Cheaper than I expected..., package 5 needed (or trial):
Pricing - Sierra Chart
Sierra is C++ not C#, for me Ami may be better, even though that is C++ as well.
Jeez, I hope NT wake up, loads of platforms are jumping in to support LMAX now.
NT doesn't even have a full blown API FFS...no FIX, only PATS.
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C
cablemonster
You can open a standard LMAX account with $1000 minimum. Just go to Alpha Novae - Alpha Novae, automated trading solutions and click on LMAX special offers in top right of website. You trade with LMAX and deal with LMAX direct.
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Liquid validity
Yeah there are quite a few introducing brokers / white labels now.
Armada etc.
Think I'll open direct with LMAX anyway.
That does look to be the future of LMAX though, introducing broker,
maybe stop taking retail clients direct.
Just hope that doesn't lead to spread markup...
L
Liquid validity
TBH I would leave it like that myself, but I mostly trade automated,
so I've got more of a headache changing over
Main problem is current platform Ninja can't connect to LMAX.
So I need to learn, and port code to another platform.
I'd rather keep Ninja, but its looking like I don't have much choice atm.
Most solutions that keep NT are a kludge:- excel bridge,
even thought of sending NT signals to collective2, then using that to trigger MT4 (desperation).
More than likely, NT8 support aside, probably be Amibroker and FIX connection.
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C
cablemonster
Be careful. Armada are a broker dealer using lmax prices which is v.different. What the majority of people don't realise is that a broker dealer will use language like 'ecn' and straight through processing. In reality you cannot mark up the spread of an ecn and keep it an ecn, its not possible either the order is in the market or not. The link i provided will still see you trading on LMAX not via a broker dealer, just negotiated lower account minimums.
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Liquid validity
True about the ECN markup etc.
Thats partly why certain brokers had their arm twisted by the SEC
to change the public description from ECN to EXN or ECN like...
Those types of places are basically client to client matching on
that particular brokers book.
TBH, I'd prefer to just go direct to LMAX, account min. not a problem.
I'd rather have FCA registration TBH.
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Liquid validity
OK, got Multi charts & Sierra up and running.
Not tried Ami yet.
Very impressed with Sierra so far...
Intuitive, good documentation, has a more robust feel than
other platforms I've used, maybe down to c++ raw code running direct
on CPU and less flashy GUI (good thing btw).
As a discretionary front end for LMAX, Sierra gets my vote.
Saying that, so far Sierra seems to be a damn good platform in its own right.
Coding wise remains to be seen, Ami may well be better on that front for me.
Not tried Ami yet.
Very impressed with Sierra so far...
Intuitive, good documentation, has a more robust feel than
other platforms I've used, maybe down to c++ raw code running direct
on CPU and less flashy GUI (good thing btw).
As a discretionary front end for LMAX, Sierra gets my vote.
Saying that, so far Sierra seems to be a damn good platform in its own right.
Coding wise remains to be seen, Ami may well be better on that front for me.
when I was reading about their MBO from a while back, the article said they have yet to turn a profit, and the MBO was mainly to inject needed capital into the company after most of the original investors bailed and didn't want to commit more ~~ even GS ran for the hills, and betfair wanted to reduce their stake in the company
the broker seems great, conditions seem great, but I just worry that they won't stay the same
something's gotta give if they are going to finally turn a profit
the broker seems great, conditions seem great, but I just worry that they won't stay the same
something's gotta give if they are going to finally turn a profit
L
Liquid validity
Latest NT8 preview webinar on BMT:
Webinar: NinjaTrader 8 Preview on Strategy Analyzer, FX Board, ATM Strategies
FXCM mentioned a fair bit, not surprising as they are preferred FX broker:
NinjaTrader stock, futures and forex charting software and online trading platform. NinjaTrader Partners.
Which is a bit puzzling, when you consider FXCM's spreads Vs LMAX:
Low Forex Spreads, Forex Quotes, Pricing @ FXCM
LMAX Exchange | The first MTF for FX Trading regulated by the FCA
EURUSD:
FXCM 2.5 for non deal desk 1.5 for deal desk
LMAX 0.3 - 0.5 even now at 1945 on a friday, plus no deal desk at all...
If there was any logic LMAX would be preferred broker,
I spose money talks :whistling
Webinar: NinjaTrader 8 Preview on Strategy Analyzer, FX Board, ATM Strategies
FXCM mentioned a fair bit, not surprising as they are preferred FX broker:
NinjaTrader stock, futures and forex charting software and online trading platform. NinjaTrader Partners.
Which is a bit puzzling, when you consider FXCM's spreads Vs LMAX:
Low Forex Spreads, Forex Quotes, Pricing @ FXCM
LMAX Exchange | The first MTF for FX Trading regulated by the FCA
EURUSD:
FXCM 2.5 for non deal desk 1.5 for deal desk
LMAX 0.3 - 0.5 even now at 1945 on a friday, plus no deal desk at all...
If there was any logic LMAX would be preferred broker,
I spose money talks :whistling
wackypete2
Legendary member
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What are commission costs for LMAX? I can't find it on their website except it says volume discounts available. Otherwise, you can't fairly compare spreads between a non commission broker and a commission broker. FXCM is non comm.
ADDED: I can't sign up anyway since I'm in the USA, but I was curious.
Peter
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Liquid validity
2.50 base/100k/side.
Page 18 in pdf:
www.lmax.com/pdf/Trading-Manual.pdf
Average Spreads
Asjust the from date.
Added to spread thats 0.8-1 as RT @ 100k
Pretty much the same as MBT before comms.
MBT is similar to FXCM desk costs, although to be fair to MBT
there is no desk and the free EXN has slightly lower all in spreads,
whilst the limit rebates acc. can reduce costs, although you do need
a decent % of limit fills.
The thing with FXCM is the price difference between desk and no desk.
Lets face it, we all know why deal desks exist...
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