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Does the bad data you're referring to also include empty time periods where no price fluctuations happened?
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Could someone with a funded LMAX account look up the EURUSD chart for today?
My demo account chart looks like this:
It would be great if someone can confirm whether or not this behaviour also happens with real accounts. I'm seriously considering them as a broker, but if their live charts/liquidity also look like this, I can better look for something else.
Thanks Nicolas! If I reload the chart this morning in MultiCharts (i.e. historical backfill), the gap is still there so it's a problem only on their demo server. Good to know.
MultiCharts users that trade with LMAX: MultiCharts is considering to remove the limitation that one can only trade full lots through MC (while LMAX web-trader supports fractional lots) (to my understanding). That was mentioned in this forum thread on the MC forum.
I've already added my 'vote' for this - perhaps this might also be something you'd like to see implemented.
Definitely adding my vote for this. I would also really like to see some advanced trade management added to the LMAX Web Trader interface as that way stops are kept on LMAX servers whereas Multicharts stops are just simulated stops that won't work if you lose your connection.
Note: Please discard this post -- it's based on a miscommunication with LMAX. See this post for the correct information.
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I was further exploring and looking into LMAX, and I found this quite disappointing (for my situation, needs & wishes):
From that url:
I totally understand that data is not free, but as mentioned previously in this thread, their demo data is 'rubbish' and the demo spreads and liquidity are not reflective of real conditions. This kind of forces you to open an account with them just to see their real data, backfill, and real-time spreads.
I was pretty impressed by them, but now they look like 'just another forex broker'.
Since I do not trade FOREX any more, I will close my account as soon as possible.
I would say that I am bit angry.
Not against the fact that they charge. Business is business.
But against the fact that this is not clearly explained.
I mean...
1. When I contracted with them, I have carefully checked this point in the contract ("Customer Agreement"). It is written:
This implied that the fee was charged only if some one was "repeatedly accessing" the account (for instance to retrieve data). So I thought that I could keep my account "dormant" (no trade but also no data).
2. However, the extract of the Web site you have found clearly says that there is a minimum of transactions to be done per month.
3. Moreover, this information is "hidden" on the Web site on a page about comparison of the types of accounts. And not immediately visible, since we have to click on another link to have access to information invisible otherwise.
A big thank you for having highlighted this issue.
Note: Please discard this post -- it's based on a miscommunication with LMAX. See this post for the correct information.
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That's true. It's still not very clear to me (I've requested a clarification from them), because $60 monthly with (relatively) high volume requirements for "just" retail MultiCharts users seems somewhat excessive to me. None of their competitors charge such a thing for API connectivity.
If I look at their trading manual (pdf), I can't find it. Chapter 6 of their trading manual is organised as follows:
6. Commissions and charges
6.1 Commission
6.2 Financing charge
6.3 Fee and commission sharing arrangements
If one searches the pdf for 'API' -> 0 hits, 'inactivity' -> 0 hits, 'fee' -> 7 hits, none related to inactivity or data access.
But perhaps this is based on a miscommunication. I'll post their clarification here as soon as I receive it.