Originally Posted By: Proomer
Looking at what others have requested I think that the best brokers to add to the existing FXCM is LMAX and Interactive Brokers. LMAX has very low spreads, typically 0.1-0.3 pips, many times lower. The commission is $5 (100k lot) round turn (about 0.5 pip). Compare that to many other Forex brokers and it is obvious that LMAX is very interesting.


After a lot of investigation, I must agree that LMAX is a very interesting broker. Actually, they're not even a broker, but a MTF (multilateral trading facility) and as such, one of a kind.

Beside low spreads, reasonable commission and very fast execution, they also offer various API access methods:

"With messages available in XML/JSON format clients can either choose to develop their own wrapper or use our customisable Client Libraries (Java, .NET) or our FIX protocol to simplify the integration."

More info on LMAX:

http://www.lmax.com/
http://www.lmax.com/trading-tech/access
http://www.euromoney.com/Article/3115737/LMAX-Exchange-An-FX-exchange-for-a-new-era.html
http://www.automatedtrader.net/articles/...-the-status-quo

I understand that MT4 is extremely popular among forex traders, and that developing plugin for MT4 would mean much for Zorro popularity, but LMAX would be so much better for automated trading. We all know that MT4 is made primarily for market makers (dealing desks) and that it is slow, cumbersome and unreliable.