Thanks for inquiring this for us.
So the bottom line doesn't change is what Dan said?
It did for me by $0.20 per round turn.
I think I'll have to call them tomorrow,,,even though it's not a pleasant thing to do.
Originally I opened account with AMP because they were advertising 500$ minimum. I did not see another Ninja broker with this cheap level of minimal funding requirements. I funded and was allowed to trade micro instruments (true, not the most fun in the world, but what do you expect?). Eventually, after leaving a few positions overnight and luckily going in my favour most of the time, my account balance went up to 1100$ (took about 1 week). I asked my broker if I can be authorised to trade standard contracts at AMP now with this one account and he said no problem... about five minutes later he said he contacted trade desk and my account is ready to trade ES, 6A (not CL or GC because margins are higher for these oils and golds). This was convenient. I trade Australian Market and the more markets available, the better. AMP offers a lot more markets than I have noticed others do.
I did eventually fund more money to trade ASX instruments, which I like, but they have higher margin. After doing high volume, I asked my broker for lower commissions and he gave me small break, so I don't know about misc. fees, but I can say AMP's commissions are among the cheapest, if not the cheapest, of major Ninja brokers.
Overall, I am pleased with AMP/Ninja/CQG. My broker did tell me that ZenFire is also available, which I suppouse is another name of Rythmic (hard to tell, I have not used it yet), but I like mere fact that many major datafeeds are available for me to choose. I also like customer service of my broker, because he speaks Russian (my mother tongue) and most e-mails are answered within 30 min. Usually I can get answer within 5 min. via Skype, to. Do not know if this is secret or not, but my broker said AMP will have about a dozen new platforms soon, including my favourite-Market Delta. I asked him if it is only with ZenFire like always but he said "no, wait, soon it will be with CQG". Hope this comes soon because I like MD for the indicator patterns and this helps me trade.
So, again, this is my experience, so it might be different for others, but I can say I have not had a problem yet. My broker also told me about AMP's 20$ customer service guarantee, but I do not feel it concerns me because my experiences has been positive.
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I talked to Dan today.
Basically what they did is charge $.20 more in a form of technology fee but reduce their commission by $.20 so it evens out.
I can't say anything about this myself because I closed the account I had with AMP as broker.
I have another account with an IB that clears through AMP as an FCM and since it's the IB's business to set the commission amount AMP as a clearing house can't do anything.
So anyone who has an account w/ AMP as both broker and FCM he/she will have evened-out total commission.
I just signed up for a live account with AMP, have not and may not fund it, since, every time i have called and spoke to someone they sound fuzzy muffled over the phone. it has been that way with every call i placed to AMP and it doesnt happen on other calls i make.. I talked to a rep at Mirus and he was very clear sounding. I think AMP had better buy some better phone equipment..
Does any one else notice Amp's phone system to be fuzzy and muffled??? i have difficult time understanding what the people are saying, i have to decipher the sounds thru the fuzz.
Initially, i chose AMP over Mirus because of the choice for cqg data or zenfire..
Has anyone else found their Phones to be Muffled and Fuzzy???
Trade what you see, not what you think.
"The better the mechanic, the fewer the tools"
"Futures Trading is risky and can cause substantial financial gain"
Last edited by traderTX; April 10th, 2012 at 01:01 PM.
To clarify, CQG is a hosted solution and they themselves manage each hub of their global network. No matter what FCM you use or what front end (NinjaTrader, CQG Trader) it all connects to the same CQG global network.
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