Alpha Novae has been partner with the LMAX Exchange (London Multiple Asset eXchange) since its very beginning end 2010 / early 2011, as we directly understood the disruptive innovation LMAX Exchange was bringing in the spot Forex and CFDs market place. An innovation which was aligned with our vision of transparency, performance and fairness in market access and execution: establishing the first exchange (MTF) for Spot Forex and CFDs.
LMAX Exchange model is indeed solving two major issues of the Forex industry:
– the lack of transparency of this highly fragmented market place.
– the lack of precise “on exchange like” execution, not impacted by dealer manipulation and last look.
Recent news with the Forex fixing scandal once again highlighted first issue, while anyone having executed a trade on a single or multi-dealer platform understands the second one.
The road to success has been difficult as LMAX was starting from scratch and with a huge investment in technology, but in 2014 the LMAX Exchange has been ranked the UK’s No.1 fastest growing technology firm in the 2014, which confimed the rightness of the model and values we also pursue at Alpha Novae.
Why today LMAX Exchange remains our venue of choice for spot Forex trading
– LMAX operates a central (not ECN) order book matching engine with price and time priority. Rules are clear and the central order book is visible to all participants (1 level with MT4, 5 levels with AlphaTrader + LMAX API, 20 levels with AlphaTrader + FIX API).
– Price You See = Price You Get! Contrary to Market Maker brokers and most of ECNs, Last Look is not allowed to liquidity providers. This means you will not get the usual slippages that you have with ECNs or market makers.
– Low latency execution (0.5ms for the MTF, 3ms for a broker client). To be compared with the 200ms to 2s with most of brokers.
– A fair business model. LMAX has no involvement at all on the price discovery, on the spread and never takes counterparty. LMAX business is to bring different participants together (liquidity providers, traders), facilitate the matching of their orders and get paid a commission for that.
– You can capture the spread through passive strategies as your limit orders will be entered in the centralized book.
– LMAX operates a Multilateral Trading Facility regulated by the FCA.
So to make it simple, LMAX Exchange means for your trading:
– low latency.
– best execution thanks to low latency execution and the absence of dealer based slippages.
– access to Level II data on a central order book (5 to 20 with AlphaTrader).
– very thin spreads set by the market (no involvement of LMAX at all) with commissions (volume based discounts available)
It is needless to say that thanks to this exchange like environment with a central order book and with a professional trading platform such as AlphaTrader, the scope of trading strategies and algorithms that you can run is the widest.
Why opening an account at LMAX Exchange through Alpha Novae introduction?
- We are not a broker offering services… but a service provider proposing a MTF trading venue… You consequently get an extra dedicated assistance from a true specialist!
- Lower deposit requirements (1000$ instead of 10 000$).
- Exact same commissions than the one applied by LMAX. Volume based discount possible.
- Possibility to trade with AlphaTrader Lite, web access, mobile access, MT4, MultiCharts, APIs, etc.
- Get access to the Alpha Novae discount program. Monthly rebates we earn on your trading volumes will be used the following month as discount on our eligible services (AlphaTrader Pro licence – starting 450 GBP/month, Alpha In A Box).
- Possibility to give your voice about the future evolutions of AlphaTrader.
- Possibility to get independant advice on any issues or questions.
- Contact-us if you have any questions.
More particularly for institutional clients (asset managers, hedge funds, brokers, etc):
- Discuss eligibility for LMAX Prime Of Prime (PoP) offering, get advised and supported.
- If you already have your own Prime Broker, get advised and supported for LMAX Exchange integration.
- Contact-us for more information.
To open an account at LMAX with our introduction and benefit from our advantages, just click on the image below and fill the online form. Then contact-us so that we can enable your advantages. For corporate accounts, please contact-us first to get the dedicated form.
Alpha Novae Ltd is NOT involved in accounts opening and does NOT hold or receive customer deposits. All deposits are held by LMAX Limited. All accounts are opened by LMAX Limited.
FX and CFDs are leveraged products that can result in losses exceeding your deposit. They are not suitable for everyone so please ensure you fully understand the risks involved.
The information on this page is not directed at residents of the United States of America, Australia (we will only deal with Australian clients who are “wholesale clients” as defined under the Corporations Act 2001), Canada (although we may deal with Canadian residents who meet the “Permitted Client” criteria), Singapore or any other jurisdiction where FX trading and/or CFD trading is restricted or prohibited by local laws or regulations. View full risk warning.