Armada Markets

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Pnty

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Been trading with these guys for some time now. I like them very much, excellent customer service, EUR/USD spread 0.0-0.6 pips, NDD and STP. I'm doing some scalping with them.

The top guys at this company are also long time traders, with history going back 15-20 years.
 
I made my first forex trade at Armada Markets today. Held the position for a few seconds only. Execution time was 0.296 seconds. I will do some news trading when US non-farm payrolls data comes out next Friday.
 
Are your funds safe if Armada goes under?

They're an introducing broker for LMAX aren't they?
 
Shakone said:
LMAX are for sure. That's why I'm asking about Armada. They seem to be based in Estonia. So if they go bankrupt, your funds are gone?
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Armadamarkets is LMAX top partner. I believe LMAX had chosen their partners carefully. Estonia are also part of the EU legalization and client's funds are segregated.
 
forbe said:
Armadamarkets is LMAX top partner. I believe LMAX had chosen their partners carefully. Estonia are also part of the EU legalization and client's funds are segregated.
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With respect, that doesn't really answer the question. As a UK client with LMAX, your funds are protected up a certain amount. With a US partner, your funds are not necessarily protected, and the same goes for a partner in the EU or Estonia. Segregated accounts is fine in theory, but hasn't always worked in practice.
 
forbe said:
Armadamarkets is LMAX top partner. I believe LMAX had chosen their partners carefully. Estonia are also part of the EU legalization and client's funds are segregated.
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But Armada are not regulated - why not trade directly with LMAX ?
Why would anybody put funds with an unregulated company when they could use LMAX directly ?
 
They said they are keeping funds segregated. Also they told me they plan to get FSA regulated in 2013. So far I am happy with them.So far I am profitable I hope that conditions stay the same. I also have accounts on Pepperstone edge and IC Markets.
 
I have a few trading accounts with them. Spread and execution is usually quite good and they have one of the lowest commissions I've seen so far. However, they had some issues with the spreads on the more exotic pairs lately, but I hope they can fix it.
 
fxgermany said:
I have a few trading accounts with them. Spread and execution is usually quite good and they have one of the lowest commissions I've seen so far. However, they had some issues with the spreads on the more exotic pairs lately, but I hope they can fix it.
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I don`t trade exotics. What problem they had with exotics?
 
I've heard complaints from others that the spreads on exotics (in this case USDNOK, USDTRY, USDPLN, EURNOK, EURTRY and EURPLN) have occasionally been much wider than usual. To my knowledge Armada is aware of this and promised to fix it.
 
fxgermany said:
I've heard complaints from others that the spreads on exotics (in this case USDNOK, USDTRY, USDPLN, EURNOK, EURTRY and EURPLN) have occasionally been much wider than usual. To my knowledge Armada is aware of this and promised to fix it.
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Thanks for your feedback. How long you have been Armada`s client? Have you made any withdrawals?
 
I've been with them for a little bit more than a year now. So far I've only made internal transfers between my accounts, but no withdrawals. Right now, the only disadvantage I can see is the lack of regulation.
 
Mightypen said:
Armanda markets are said to be one of the best ECN brokers around. They have spreads as low as 0 pips, almost no re-quotes, delays nor interventions. They are an ECN, STP, scalping, supporting Expert Advisors (EA). With leverage 1:500, trade from 0.01 lot. Having a minimum deposit 100 EUR, GBP, USD. They are an EU registered spot FX broker using an MT4 trading platform.
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EU registered and using MT4, sounds like a bunch of Russian crooks operating out of Cyprus or some other corrupt dump.
 
pboyles said:
EU registered and using MT4, sounds like a bunch of Russian crooks operating out of Cyprus or some other corrupt dump.
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I believe something similar happend on Forex factory. There was an LMAX thread, and a bunch of shills hijacked it and promoted Armada. It was pointed out that Armada was unregulated and should of course be avoided, but the shills carried on for some time promoting for as long as they could until they were eventually banned. They lasted quite a while.

How long will they last here?

In case my earlier posts were ignored...in trading you must protect your funds. Ability and luck and small spreads and all that is irrelevant if you haven't at minimum got some guarantees regarding your deposit. Liquid Validity had a good thread on how to do due diligence.

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 do not have big account with Armada due to the same facts what previous members pointed out. My opinion is that never keep your eggs on 1 basket regulated or not.
 
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