LMAX is most likely the best retail broker you are able to exchange with (if you don't have miniature 50K and proceed with Currenex, HotSpot, Ebs...). It is a true marketplace, where there's an order book, and each and every transaction (including yours) are in this order book. Everyone has full access to it. As described before, this allows you to buy in the BID if someone takes your transaction (you get the spread that's paid by the person taking your transaction ), which is impossible with rather every other retail broker since you'll just buy from a LP (liquidity supplier ) in the ASK (you pay the spread which is earned by LPs). To fully utilize it, you should exchange with MultiCharts or even the API/FIX. But anyhow, even if you use MT4, then it is a very good broker with tight spreads (also tigher the more competition there's ) and speedy execution. No market maker tricks like forbidding you to place your orders where you desire, as close to the current price as you desire.Originally Posted by ;
In my view, Armada was great when they were utilizing LMAX (and just LMAX). They had the specific same prices because LMAX, and it had been rather the same as utilizing LMAX MT4, but with a higher leverage (x500 rather than x100 for LMAX). I left Armada when they started to include additionnal LPs and that I had the sensation to find some little prices manipulation. The afternoon I left is when I had a big spot opened and they raised the swap rate like mad the evening I retained this place open, and lowered it again the day after I shut it). When asking assistance about it, it really gave me the belief to listen to the same BS as some bad market maker I had problems with previously. Things like: It is not us, it's our LPs When you ask this is, as once I opened my account all of trades were supposed to be hedged on LMAX, it had been Biggest banks without any additional detail. Rates went up on the intermarket, nothing to do with your trades... Yeah, I've access to LMAX swap rates and to EBS (=interbank) rates, and it had been 100% BS. So I would advise to plead with Armada. They were great at the start, but feared me after their update to more liquidity sources. I asked myself if they did not become a pure bucket shop with all the fantastic old approaches...
To be 100% fair in Armada, I received my cash VERY quickly after asking for withdrawal, and after an email, I have been reimbursed of the large swap I paid, which I could withdraw with no difficulty in any way. So that was really correct and nice. (I'd complained about the swap increase before closing the trades, but emailed to mention that as expected swap returned to normal the day after I shut themand they compensated all the paid swap). I've since some time a policy to leave a broker in the first wrong or questionable behaviour, because previously I dropped a lot of time and money once I was robbed by a broker where it was damn obvious that they were a scam, and that I had been stupid enough to continue to trade with them...