Armada Markets

[fxgermany]

Avoid Armada markets and indeed any other unregulated broker like the plague. Ignore any claims of segregated accounts, because when the sh1t hits the fan, you'll have no recourse unless there is some regulatory body to protect you.

I think regulation is overrated. If, for example, Armada Markets and IC Markets go down I wouldn't expect to get a single cent of my deposit back from any of them, whether IC Markets is ASIC regulated or not. This might be different in case the client lives in the same country as the regulation authority, though.

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Also, there are situation when I prefer an honest unregulated broker (meaning they clearly state the fact that they are not regulated on their website) over one that actively decided to set up shop in Malta, Cyprus or Mauritius, just to name a few.

 

[Shakone]

I think regulation is overrated. If, for example, Armada Markets and IC Markets go down I wouldn't expect to get a single cent of my deposit back from any of them, whether IC Markets is ASIC regulated or not. This might be different in case the client lives in the same country as the regulation authority, though.

--

Also, there are situation when I prefer an honest unregulated broker (meaning they clearly state the fact that they are not regulated on their website) over one that actively decided to set up shop in Malta, Cyprus or Mauritius, just to name a few.

Oh not this nonsense again!

 

[Liquid validity]

I think regulation is overrated. If, for example, Armada Markets and IC Markets go down I wouldn't expect to get a single cent of my deposit back from any of them, whether IC Markets is ASIC regulated or not. This might be different in case the client lives in the same country as the regulation authority, though.

--

Also, there are situation when I prefer an honest unregulated broker (meaning they clearly state the fact that they are not regulated on their website) over one that actively decided to set up shop in Malta, Cyprus or Mauritius, just to name a few.

I've yet to come across honest unregulated broker (that clearly state the fact that they are not regulated on their website).

Bit bizarre that you like a pro regulation post as well...
http://www.trade2win.com/boards/new-trading/178756-my-broker-money-safe-basic-due-diligence.html

 

[Pnty]

My suggestion to anybody who actually likes to make profit in Forex would be to open a small account with them and compare LIVE results with any other broker in the world. And I don't mean 1 or 2 trades, I mean at least 100 trades.

One thing that you could try to do is just open a LIVE welcome account with them with 15 EUR and start from there:
https://client.armadamarkets.com/Welcome/eng3cW1/

If you can give me any broker that can beat Armada in terms of execution time, low spreads and low slippage then I'm all yours.

Regulation of Armada has been touched here like muliple times. Yes, they do not have a solid license, they haven't claimed other than that.

If you can't trade profitably with this broker with the conditions that they provide then you should seriously consider to quit trading. Seriously!

 

[pboyles]

My suggestion to anybody who actually likes to make profit in Forex would be to open a small account with them and compare LIVE results with any other broker in the world. And I don't mean 1 or 2 trades, I mean at least 100 trades.

One thing that you could try to do is just open a LIVE welcome account with them with 15 EUR and start from there:
https://client.armadamarkets.com/Welcome/eng3cW1/

If you can give me any broker that can beat Armada in terms of execution time, low spreads and low slippage then I'm all yours.

Regulation of Armada has been touched here like muliple times. Yes, they do not have a solid license, they haven't claimed other than that.

If you can't trade profitably with this broker with the conditions that they provide then you should seriously consider to quit trading. Seriously!

They do not have a licence and the regulator has issued a public warning about them. Anybody that sends them their money is a fool.

 

[pboyles]

Oh dear, it just gets worse.

 

[pboyles]

Recognise anyone from Armada Markets here pnty?

http://www.cmegroup.com/company/membership/membernet/files/20100201_Update.print.pdf

http://www.armadamarkets.com/about-forex/board-of-directors/

 

[Shakone]

My suggestion to anybody who actually likes to make profit in Forex would be to open a small account with them and compare LIVE results with any other broker in the world. And I don't mean 1 or 2 trades, I mean at least 100 trades.

One thing that you could try to do is just open a LIVE welcome account with them with 15 EUR and start from there:
https://client.armadamarkets.com/Welcome/eng3cW1/

If you can give me any broker that can beat Armada in terms of execution time, low spreads and low slippage then I'm all yours.

Regulation of Armada has been touched here like muliple times. Yes, they do not have a solid license, they haven't claimed other than that.

If you can't trade profitably with this broker with the conditions that they provide then you should seriously consider to quit trading. Seriously!

They are an introducing broker for LMAX, so in terms of execution time, spreads and slippage they are going to be typically worse than LMAX. Obviously.

You are clearly a shill for Armada markets, probably not the only one on this thread either. 30 posts in 6 months and I'd bet a large % are about Armada. Reported.

 

[fxgermany]

Bit bizarre that you like a pro regulation post as well...
http://www.trade2win.com/boards/new-trading/178756-my-broker-money-safe-basic-due-diligence.html

Maybe I only liked steps two and three?

But seriously, I think your due diligence walkthrough is a great start for someone who is new to forex and trying to pick one broker from the few hundred (?) available. However, I've been trading for a few years now so I take the freedom to trade with unregulated brokers as well.

 

[Liquid validity]

However, I've been trading for a few years now so I take the freedom to trade with unregulated brokers as well.

Freedom to have less peace of mind.
I have yet to see any benefits an unregulated broker has to
offer that outweigh not being regulated.
The benefit of no regulation lies solely with the broker.
They just try and convince punters there is some advantage for them as well.
There isn't.

So what is this freedom, 200:1 leverage, I wouldn't call that an advantage...
Of all the various accounts I've had and still have, not one has been unregulated.
Its the same as saying there is an advantage to using an unregulated gas installer or similar.
Might save a bit of money (margin requirement), but you increase the risk of blowup
(losing whole deposit, or worse - identity theft).

 

[Rockfeller]

Maybe I only liked steps two and three?

But seriously, I think your due diligence walkthrough is a great start for someone who is new to forex and trying to pick one broker from the few hundred (?) available. However, I've been trading for a few years now so I take the freedom to trade with unregulated brokers as well.

I agree with you.
Also I would like to repeat sentence I am telling to everyone. Never keep your eggs on one basket.
This thread helped me to reach my decision. People there know what they are talking about http://www.donnaforex.com/forum/index.php?topic=5718.msg284520#msg284520

 

[Liquid validity]

I agree with you.
Also I would like to repeat sentence I am telling to everyone. Never keep your eggs on one basket.
This thread helped me to reach my decision. People there know what they are talking about http://www.donnaforex.com/forum/index.php?topic=5718.msg284520#msg284520

As that post mentions a 3 point trailing stop in FX, I'd beg to differ...
I'd love to know what benefits an unregulated broker offers over LMAX themselves...

 

[Rockfeller]

As that post mentions a 3 point trailing stop in FX, I'd beg to differ...
I'd love to know what benefits an unregulated broker offers over LMAX themselves...

I meant the whole thread not one certain post.Main reason why I chose them are leverage and spread. Still testing them by the way.

 

[Liquid validity]

I meant the whole thread not one certain post.Main reason why I chose them are leverage and spread. Still testing them by the way.

Armada spreads are identical to LMAX spreads:
Armada:
http://www.armadamarkets.com/fx-trading/open-account/
LMAX:
https://s3-eu-west-1.amazonaws.com/...t-quote-prof-flex.html?a=rTWcS34L5WRQkHtC&f=1

Greater leverage is all that is on offer in return for no regulation.
Given the fact that increased leverage just means less cash on deposit
(unless you disregard the dangers of over leverage), I still fail to see
any benefit.

 

[Rockfeller]

Armada spreads are identical to LMAX spreads:
Armada:
http://www.armadamarkets.com/fx-trading/open-account/
LMAX:
https://s3-eu-west-1.amazonaws.com/...t-quote-prof-flex.html?a=rTWcS34L5WRQkHtC&f=1

Greater leverage is all that is on offer in return for no regulation.
Given the fact that increased leverage just means less cash on deposit
(unless you disregard the dangers of over leverage), I still fail to see
any benefit.

I agree that there is a risk. That`s why I said I do not have a big account with them. Compare spreads here http://www.myfxbook.com/forex-broker-spreads

 

[Liquid validity]

I agree that there is a risk. That`s why I said I do not have a big account with them. Compare spreads here http://www.myfxbook.com/forex-broker-spreads

Why compare the spreads to other brokers?
Compare them to LMAX - they are exactly the same.
Spreads are not a reason to choose Armada:

http://www.armadamarkets.com/fx-trading/open-account/ -- bottom of page for spreads.
https://s3-eu-west-1.amazonaws.com/...t-quote-prof-flex.html?a=rTWcS34L5WRQkHtC&f=1

The link you posted, Armada spreads do not match their own quoted spreads.
On their page they are higher...but still exactly the same as LMAX.
Your link quite often shows EURUSD with a spread of 0.1, when Armada's own live spread is 0.3
That myfxbook spread comparison is either inaccurate or rigged.

 

[Rockfeller]

Why compare the spreads to other brokers?
Compare them to LMAX - they are exactly the same.
Spreads are not a reason to choose Armada:

http://www.armadamarkets.com/fx-trading/open-account/ -- bottom of page for spreads.
https://s3-eu-west-1.amazonaws.com/...t-quote-prof-flex.html?a=rTWcS34L5WRQkHtC&f=1

The link you posted, Armada spreads do not match their own quoted spreads.
On their page they are higher...but still exactly the same as LMAX.

I am not sure why they have this LMAX widget on their webpage because when I am logged in to my real account and compare it with LMAX spreads I see that spreads are lower.

Will send them e-mail and ask about this

 

[Liquid validity]

I am not sure why they have this LMAX widget on their webpage because when I am logged in to my real account and compare it with LMAX spreads I see that spreads are lower.

The LMAX widget is from LMAX...it exactly matches the advertised live spread on
Armada's page.
They won't advertise a public spread that is higher than the account spreads...

 

[Pnty]

The LMAX widget is from LMAX...it exactly matches the advertised live spread on
Armada's page.
They won't advertise a public spread that is higher than the account spreads...

Jesus, just open a demo account with Armada and LMAX and compare the spreads of overnight Asian session. So who has better spreads?

And I still don't understand why Armada is keeping this LMAX price widget on their front page when only a small portion of liquidity (if I look overnight session) comes from LMAX. I mean based on overnight spreads Armada should actually be the one who provides liquidity to LMAX.

 

[pboyles]

Jesus, just open a demo account with Armada and LMAX and compare the spreads of overnight Asian session. So who has better spreads?

And I still don't understand why Armada is keeping this LMAX price widget on their front page when only a small portion of liquidity (if I look overnight session) comes from LMAX. I mean based on overnight spreads Armada should actually be the one who provides liquidity to LMAX.

OK lets see, we have an unregulated broker who have been the subject of an official government warning and at least one of the board members has been heavily fined for breaking financial industry rules in the past. But all your worried about is the size of the spread?