I am currently using LMAX for a few different reasons such as price, execution, transparency, safety of funds, software etc etc all the usual things thats we are all looking for.
Reason i am commenting here is i have had many many accounts with different brokers as am continually looking for the best for me as it is probably one of the most important decisions u have to make as a trader. Competition has driven the broker world into providing better and better services and it is improving all the time.
But, that said, each trader has a responsibility to ensure that they are getting exactly what they should. You can talk about spreads, commission, execution etc but ultimately it is about the cash. I implore everyone to try running different brokers against each other as in same time execution and u might be surprised at what u find. Some companies that offer ultra tight spreads and seem the best may have some other means of ensuring they are skimming from your profits and it will always show up in the profit margin, always, thats the proof of the pudding so to speak?
i will never ever use a market maker again and have any conflict of interest, that business model is for me ludicrous, how can u making a profit and taking from their bottom line ever have a medium to long term stable relationship but that said is a good starting point for your trading to dip your toes in so to speak.
Quite simply i want almost zero commission pricing with almost zero spread as in almost zero turnaround costs with the fastest execution and complete transparency, and will continually look around the market trying to get closer to that dream model. And as mentioned earlier, the competition is driving this and improving all the time.
g/l all
kwickwool
