LMAX - Going from strength to strength

[DowJones]

I'm posting this because a few people have PM'd me with interest in LMAX.

Anyway, was reading a report from last month about LMAX's revenue & volumes being up 260%, client base doubling & client funds up 240%. Seems they are going from strength to strength. Good to see someone doing things right.

So why should we as traders care? Basically because there is a large negative edge with most retail brokers. I've used a variety of brokers in my time and the cost-savings from an institutional quality broker for an active trader are huge. In that respect, places like LMAX have saved me a small fortune.

I'm willing to bet that some people who are struggling to be profitable traders could be if they only used a decent broker. Anyway, your choice...

Disclosure: I use LMAX Exchange. This is not an advert for them - although if LMAX is reading, please feel free to reduce my commish further . My point is that I would strongly recommend an institutional quality broker even to retail clients.

PS I would also strongly caution readers to ignore most of the posts written in this broker forum... there is a huge amount of incorrect and misleading information.

 

[mike.]

What's the disadvantages trading through a IB like "HFT Group " on lmax exchange DJ ? I see there offering a 12% comm discount and a lower min deposit ( $1000 )

 

[mike.]

Is this your main account you use for scalping the indices DJ ? and what commission do they charge round trip ? ( dont mean to be to intrusive)

 

[Pippi56]

Im using them too, they are rock solid. Only thing i would like to see is more liqudity/tighter spreads in USD/CNH. Its one of the few things that still move in FX, and interactive brokers beats them in this pair rather convincingly. Also more then 1 lp in index products would be good.

I'm still wondering if they will stop dealing with retail clients. There have been reports that they will, but apparently not so far.