FROM THEIR WEBSITE: Price you see = price you get - There are no dealers on the LMAX Exchange, making Forex and CFD trading on the LMAX Exchange neutral and transparent. With no dealer intervention - requotes are a thing of the past - our cutting-edge technology purely and simply matches clients’ best bids to the best offers. [^]
i am not sure how this is possible. if their servers determine that a particular instrument is available to be traded at $X, and then they transmit that price to be displayed on my terminal, and then i (or my software) clicks on a buy or sell button, how is it possible that by the time that my order gets back to them that said price is guaranteed to be still available?
they must be doing something very clever, and i would like to understand how they do it.
this organization is most definitely operating as an exchange, something of a closed circuit exchange, but an exchange nevertheless.
my thinking is that the only issue/drawback to the issue that it is operating as a closed circuit exchange might be that the size of their order book might not be that big of a book, but if that book should become large or larger, this is quite possibly going to be the cool cat trading server system, and that is a good thing.
assuming that i do in fact understand the mechanics of their trading servers, lol, which i probably do not fully understand the mechanics of their system and therefore it is my suggestion that we get something of a more detailed explanation of the above flowchart, not everybody that trades knows how to read flowcharts and it is just good practice to go ahead and write a full explanation of any flowchart that is as promising as the above flowchart. ;)
regarding the issue that they are owned by some kind of betting company, i would like to be the first to come forward and recognize that this is not a negative sign for a company like this, this is actually something that this company should sing about and they should wear this betting company issue like it is a badge of honor. personally, i like the idea that some pimps are in the house and that they just might know how to take care of some trading business.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to
trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you
cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.