LMAX FX Exchange

[a_gnome]

I've just come across LMax, which is a new FX trading exchange set up by the Betfair people. They seem to be applying the Betfair principles to FX trading offering a full exchange with spreads which are generally tighter than Interactive Brokers (whom I use at present) and with comparable commissions ($25 per mio cf. $20 per mio for IB). Minimum trade size is 10k & no minimum commission (which IB does have). All in all it looks good but as they're a new outfit I'm wondering if anyone else has actually used them and if so what their experience is of them.

TIA


Adam

 

[a_gnome]

I've just come across LMax, which is a new FX trading exchange set up by the Betfair people. They seem to be applying the Betfair principles to FX trading offering a full exchange with spreads which are generally tighter than Interactive Brokers (whom I use at present) and with comparable commissions ($25 per mio cf. $20 per mio for IB). Minimum trade size is 10k & no minimum commission (which IB does have). All in all it looks good but as they're a new outfit I'm wondering if anyone else has actually used them and if so what their experience is of them.

TIA


Adam

No replies I see so I'm guessing that no one has actually used them. I tried out the demo and it all looks pretty good though their web based trading platform is a bit simplistic and lacks some functionality which I dare say will come with time.

 

[Strobe]

Hi. Moved to LMAX about six weeks ago after the Worldspreads debacle. So far so good for me. The charting can be a bit glitchy sometimes. Spreads on the three fx crosses I trade are, in the main, excellent. Eur/Usd spread in the UK working day usually hovers around the 0.4-0.6 mark and there are plenty of occasions when it's zero. I don't trade news but spreads increase markedly around NFP etc. Commission rates are negotiable. Hope this helps.