.

L

Liquid validity

0 0
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.
 

guvmnt

Newbie
7 0
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
 
L

Liquid validity

0 0
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
 

wackypete2

Legendary member
10,229 2,055
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...

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
 
L

Liquid validity

0 0
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
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...
 
Last edited:

random12345

Established member
793 280
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...

Shakone pointed this out to be me originally, but you can negotiate a discount with them if you do over 50 million notional a month. Since you have to speak to the sales team individually then it's probably not right to mention what sort of discount you can get, but to cut a long story short, it's basically eventually in line with the >100 million size discount you get on IB. Depends how often you trade of course.. but I'd think you'd likely be beyond or near 50 million if you did around 100 CTs net a day.

I have moved almost all of my operational capital to LMAX now. For me LMAX is basically IB, but with customer service... I have been trading large sizes on the UJ lately with no issues at all. Having said that I trade FX only, their CFDs look pricey and it's a shame there remains no UK based broker that can actually imitate the emini... but then I guess that involves CME issues beyond my knowledge.
 
L

Liquid validity

0 0
Shakone pointed this out to be me originally, but you can negotiate a discount with them if you do over 50 million notional a month. Since you have to speak to the sales team individually then it's probably not right to mention what sort of discount you can get, but to cut a long story short, it's basically eventually in line with the >100 million size discount you get on IB. Depends how often you trade of course.. but I'd think you'd likely be beyond or near 50 million if you did around 100 CTs net a day.

I have moved almost all of my operational capital to LMAX now. For me LMAX is basically IB, but with customer service... I have been trading large sizes on the UJ lately with no issues at all. Having said that I trade FX only, their CFDs look pricey and it's a shame there remains no UK based broker that can actually imitate the emini... but then I guess that involves CME issues beyond my knowledge.
Be a while before I qualify for discount, guestimate of 15m monthly
across projected 5 pairs.
May chuck in AU/AG as well.
Working on that right now.
Mainly down to me being cautious, spent a fair while live forwards & slippage testing,
then lower size due to risk of ruin at start.

The CFD pricing, agree, it may simply be down to lack of demand atm.
When I was checking the spreads SPX was 0.5 - 0.8 with print activity pretty low.
Agree on cust. svcs. as well, emailed them the other day not expecting
a reply until next day. reply came 10 mins later...never had that before.

BTW, have you ever used quickfix?
http://www.quickfixengine.org/
My last hope for hooking Ninja up to LMAX.
Sierra or Ami otherwise.
 

random12345

Established member
793 280
Be a while before I qualify for discount, guestimate of 15m monthly
across projected 5 pairs.
May chuck in AU/AG as well.
Working on that right now.
Mainly down to me being cautious, spent a fair while live forwards & slippage testing,
then lower size due to risk of ruin at start.

The CFD pricing, agree, it may simply be down to lack of demand atm.
When I was checking the spreads SPX was 0.5 - 0.8 with print activity pretty low.
Agree on cust. svcs. as well, emailed them the other day not expecting
a reply until next day. reply came 10 mins later...never had that before.

BTW, have you ever used quickfix?
QuickFix: Open Source FIX Engine
My last hope for hooking Ninja up to LMAX.
Sierra or Ami otherwise.

I understand... it's a balance between hedging volatility and costing yourself too much in margin and variable spread when it comes to choosing how many pairs to algorithmically trade.

Yep, all the CFD variants of the emini tick like crap - the only reason for daytrading this sloth is when you have access to market spread and true tick data.

What's the average spread on AG?? It cannot be good surely? AU I like, 24 hours, tiny spread, can move. I prefer it over the EU, though UJ remains my favourite U cross. I think it will remain active right into August to boot. What are your thoughts on trading J pairs during this "Golden Week" with bookended bank holidays? I'm taking Monday off, but think I will trade Friday looking at the eco calendar.

I've never tried to force a package to work with a broker that doesn't natively support it I'm afraid. I guess you can only continue to lobby Ninja and LMAX!
 
L

Liquid validity

0 0
What's the average spread on AG?? It cannot be good surely? AU I like, 24 hours, tiny spread, can move. I prefer it over the EU, though UJ remains my favourite U cross. I think it will remain active right into August to boot. What are your thoughts on trading J pairs during this "Golden Week" with bookended bank holidays? I'm taking Monday off, but think I will trade Friday looking at the eco calendar.

I've never tried to force a package to work with a broker that doesn't natively support it I'm afraid. I guess you can only continue to lobby Ninja and LMAX!
Well I'd just normally leave it alone unless it had an obvious and volatile directional bias or low vol.
Saying that I've never traded UJ or done much in the way of testing on it,
so I'm far from the best to ask on that one :LOL:

Yeah I'll keep plugging away with Ninja, trouble is if not many are asking fot it,
they won't bother.
Its a long shot, realistically I'm resigned to the fact its a choice between
NT and LMAX, LMAX wins.
The bottom line boost that cost reduction gives is too much to pass up.
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock