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AMP Futures / AMP Global Review
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AMP Futures / AMP Global Review

  #281 (permalink)
Just a boy
Auckland, New Zealand
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP/CQG
Favorite Futures: Whatever moves in my timezone
 
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torroray View Post
Hi Gary,

How much does AMP charge for TT Net routing? DO they bundled the charge with commission?

@torroray

AMP has this on-line calculator that lets you work out what the commission will be for various platform/data feed combinations.

https://portal.ampclearing.com/account/commissionquote.aspx


I also use TTnet (with SC) and I too can confirm I have had zero issues with the feed. It is fast reliable and seems (always hard to prove) to give me better fills.

Although you need to know that TTnet's recording of the trade as having occurred at the bid or ask is unreliable. Also it is not possible to get your live trade account balance with TTnet - you need to wait until AMP send you your daily statement (of course your trading platform will still give you it's view of your intraday performance).

There is also no web or mobile access to TTnet, so if something goes wrong with your trading software etc, you can't log onto TTnet via your phone and manage your trades - you will have to call AMP.

So yes it is cheaper, but that is probably because of some of the shortfalls above.

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  #282 (permalink)
Elite Member
Washington DC
 
Futures Experience: Intermediate
Platform: InvestorRT
Broker/Data: TD Ameritrade, AMP/CQG
Favorite Futures: ES
 
Posts: 206 since Aug 2014
Thanks: 74 given, 267 received


Quoting 
I'm sure the scalpers with their 1 tick charts love them!


For anyone who trades regularly, the commissions add up to considerable sums.

For example, if someone is averaging 10 round trips of 4 contract lots daily (ie, 40 contracts), a $1 per round trip savings in the commissions would amount nearly $10,000 savings in a year. That's significant amount of money.

Many people trade lot more than 40 contracts/day.

I would not recommend any deep-discount brokers for new traders.

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  #283 (permalink)
Elite Member
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
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Posts: 1,877 since Sep 2010
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steve2222 View Post
@torroray

AMP has this on-line calculator that lets you work out what the commission will be for various platform/data feed combinations.

https://portal.ampclearing.com/account/commissionquote.aspx


I also use TTnet (with SC) and I too can confirm I have had zero issues with the feed. It is fast reliable and seems (always hard to prove) to give me better fills.

Although you need to know that TTnet's recording of the trade as having occurred at the bid or ask is unreliable. Also it is not possible to get your live trade account balance with TTnet - you need to wait until AMP send you your daily statement (of course your trading platform will still give you it's view of your intraday performance).

There is also no web or mobile access to TTnet, so if something goes wrong with your trading software etc, you can't log onto TTnet via your phone and manage your trades - you will have to call AMP.

So yes it is cheaper, but that is probably because of some of the shortfalls above.

I believe you can attach the TT platform for those who use TT feed in order to see the balance live.
So you can use TT along with SC+ TT Platform (so long you still execute on the SC platform) you commissions will stay as per site.

We would help anyone who may require such assistance while maintain the commissions you see above.

Thank you,
Matt
Optimus Futures

There is a risk of loss in futures trading. Past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #284 (permalink)
Elite Member
LEON / SPAIN
 
Futures Experience: Intermediate
Platform: Ninjatrader, Bookmap
Broker/Data: TT/Amp, IQFEED
Favorite Futures: Stocks, FUTURES
 
Posts: 22 since Sep 2014
Thanks: 2 given, 1 received


cogito View Post
For anyone who trades regularly, the commissions add up to considerable sums.

For example, if someone is averaging 10 round trips of 4 contract lots daily (ie, 40 contracts), a $1 per round trip savings in the commissions would amount nearly $10,000 savings in a year. That's significant amount of money.

Many people trade lot more than 40 contracts/day.

I would not recommend any deep-discount brokers for new traders.

I did the homework and calculate that even wining 50 out 50 trades in minieuro,up to 2-3 ticks with x-trader you are fucked with the comisions. What means you would have to choose another platform, or another market, or not scalp. Well I think in ES is probably a better election to trade with them. Anyway Im afraid of burn again my account with them but, do anyone knows another good futures broker that allow cqg or xtrader and that cheap ES?

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  #285 (permalink)
Elite Member
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
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Futures Edge on FIO

What value do you place on the webinars on FIO?

 

Delawer View Post
I did the homework and calculate that even wining 50 out 50 trades in minieuro,up to 2-3 ticks with x-trader you are fucked with the comisions. What means you would have to choose another platform, or another market, or not scalp. Well I think in ES is probably a better election to trade with them. Anyway Im afraid of burn again my account with them but, do anyone knows another good futures broker that allow cqg or xtrader and that cheap ES?

You realize the MiniEuro traded today less than 2% of the regular Euro FX contract, so commissions is not the issue here, because you do not have the liquidity to get in and out.

Matt
Optimus Futures

There is a risk of loss in futures trading. Past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #286 (permalink)
Elite Member
LEON / SPAIN
 
Futures Experience: Intermediate
Platform: Ninjatrader, Bookmap
Broker/Data: TT/Amp, IQFEED
Favorite Futures: Stocks, FUTURES
 
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mattz View Post
You realize the MiniEuro traded today less than 2% of the regular Euro FX contract, so commissions is not the issue here, because you do not have the liquidity to get in and out.

Matt
Optimus Futures

There is a risk of loss in futures trading. Past performance is not indicative of future results.

I agree with you :S

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  #287 (permalink)
Elite Member
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
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Delawer View Post
I agree with you :S

Thank you. Keep in mind that while brokers could lower commissions, exchanges may lower their fee for mini contract, the data feed charges stay the same regardless of contract traded because they charge per routing.
So the data feed charges become a factor in the equation of what you are trading and frequency.

Matt
Optimus Futures

There is a risk of loss in futures trading. Past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #288 (permalink)
Elite Member
Washington DC
 
Futures Experience: Intermediate
Platform: InvestorRT
Broker/Data: TD Ameritrade, AMP/CQG
Favorite Futures: ES
 
Posts: 206 since Aug 2014
Thanks: 74 given, 267 received


Delawer View Post
I did the homework and calculate that even wining 50 out 50 trades in minieuro,up to 2-3 ticks with x-trader you are fucked with the comisions. What means you would have to choose another platform, or another market, or not scalp. Well I think in ES is probably a better election to trade with them. Anyway Im afraid of burn again my account with them but, do anyone knows another good futures broker that allow cqg or xtrader and that cheap ES?

Can you elaborate how your account was burned at AMP? I am asking because, I suspect your account was burned due to your trading style. Read somewhere that 90% of new traders burn their accounts within 9 months. Thats part of the learning process.

ES is a very volatile instrument. I suggest staying away from ES until 1) you build capital 2) tune your skills. Dont go for the cheapest broker either. Look for a full-service broker with good educational materials/webinars.

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  #289 (permalink)
Elite Member
LEON / SPAIN
 
Futures Experience: Intermediate
Platform: Ninjatrader, Bookmap
Broker/Data: TT/Amp, IQFEED
Favorite Futures: Stocks, FUTURES
 
Posts: 22 since Sep 2014
Thanks: 2 given, 1 received


cogito View Post
Can you elaborate how your account was burned at AMP? I am asking because, I suspect your account was burned due to your trading style. Read somewhere that 90% of new traders burn their accounts within 9 months. Thats part of the learning process.

ES is a very volatile instrument. I suggest staying away from ES until 1) you build capital 2) tune your skills. Dont go for the cheapest broker either. Look for a full-service broker with good educational materials/webinars.

Yes, I had no enough capital in the account (I begun with 500-1000e), to hold the risk of a volatile move.. Well I am familiar wiith... clearing.. etc.. But.. market kick me off in that case :S (probably i was at the wrong side for too long but what instrument do you recomend me to avoid in example 30 basis points of risk? That is too much money to risk with.


Last edited by Delawer; September 25th, 2015 at 07:44 AM.
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  #290 (permalink)
Elite Member
Washington DC
 
Futures Experience: Intermediate
Platform: InvestorRT
Broker/Data: TD Ameritrade, AMP/CQG
Favorite Futures: ES
 
Posts: 206 since Aug 2014
Thanks: 74 given, 267 received



Delawer View Post
Yes, I had no enough capital in the account (I begun with 500-1000e), to hold the risk of a volatile move.. Well I am familiar wiith... clearing.. etc.. But.. market kick me off in that case :S (probably i was at the wrong side for too long but what instrument do you recomend me to avoid in example 30 basis points of risk? That is too much money to risk with.

I am not the right person to recommend you which instrument to trade on. But ES may not the right instrument for you.

Suppose you open an account with a discount futures broker with initial investment of $1,000. They advertise that daytrade margin for ES is $400. They may not let you trade 2 contacts with $1000. Its too risky for them. If I were are broker, I certainly would not.

ES is a very volatile instrument. In choppy sessions, it moves 5-8 points within seconds. A 6-tick (6 x 12.5 = $75) is not often enough. With 6-tick stop, you would potentially be reducing your initial investment to a level the broker would no longer allow you to trade ES.

Your primary goal is to limit your losses per trade so you can get more trades with your investment. That is why, you should look into less volatile instruments.

Having said that, don't get discouraged by losses. Losses are part of the game, especially during the learning phase.

Unfortunately, if you have small capital, you would be more concerned with preserving the capital (or increasing on the gains). That philosophy does not work with trading. Invest only the amount you could afford to loose and be concerned about only executing the right trades. Take profits and especially losses early.

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