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

  #321 (permalink)
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Delawer View Post
This was one of my sources: http://www.fca.org.uk/static/pubs/guidance/gc11_23.pdf
Besides, I have been told than some brokers (I didnt say couse its something I cant proof and dont know if is the case of AMP) held customers orders for example in the ES (not in the SP); wich means those could not been traded in the exchange.
About order execution I know CME rules and impled orders about (dont know if is enough).
And last, if a maker maker take a look at client orders, that means that could trade against them.

Correct me if Im wrong in anything and will take into account for further analisys.

Tx


When I have a minute, I will read this. But, I would first inquire within the FCA, which asset class they discussed here and what institutions it addresses. Personally, I think you should start a new thread "Order Flow Payment" instead of discussing it here. This would also become a good educational topic.

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  #322 (permalink)
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mattz View Post
When I have a minute, I will read this. But, I would first inquire within the FCA, which asset class they discussed here and what institutions it addresses. Personally, I think you should start a new thread "Order Flow Payment" instead of discussing it here. This would also become a good educational topic.

Matt
Optimus Futures

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

Due to my new data recovered with IQfeed and Ninjatrader I will re-write my review avoiding my thoughs and will take care only the non-mechanical issues related about. I will also review the data recovered with AMP and compare it. Will edit later.


Last edited by Delawer; November 16th, 2015 at 10:57 AM.
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  #323 (permalink)
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...and updating that they can cover past clients debts accounts with no negative impact for the client (i.eg out of bussiness) wich is a extremelly good point for AMP.

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  #324 (permalink)
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FINAL ReVIEW.
Support
- Well, I have to say first, as told before that (in my case) debts were covered wich is a good point for AMP. It means that is not likely you run out of bussiness.
- Treatment was quite good, and problems or inquires were solved with no more than 1 day.
-Daily Statmens good detailed and accurate.
Order execution
Number of contract traded: 600 (more or less) contracts traded- during 6 months in differents conditions
-Execution speed were good or on average
- Buy-sell side. In low speed marketYou can obtain fast and good prices taking (4-5 ticks) (marketable or limits) orders for a customers and work orders close to NBBO [with a ratio of 98%] fast and reliable.
As espected in futures, sell-side in short term (2ticks) cheked in several conditions have a very low probability ratio [0'00072] as is logical, you cant sell something to the market more expensive than you have recently bought.
Software
-A huge variety.
I recommend them to carry your brokerage bussines for low capitalized firms or private brokers.

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  #325 (permalink)
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Answer to question re AMP's 'free' commission offer

Futures Edge on FIO

Which products do you trade?

 
Over on this closed thread:
https://futures.io/brokers-data-feeds/37744-amp-introduce-commission-free-trading-1000-pa.html @sam028 raised this point that needed clarification:


Quoting 
Be careful.

AMP is an FCM, the clearing fees and the commission fees goes in the same pockets.
I assume they can remove what they call commission fees and increase what they call the clearing fees.
As all their usual fees are not available on their web site, hard to say if it make sense to blindly spend $1000..

I responded to Sam with this post:

https://futures.io/brokers-data-feeds/37744-amp-introduce-commission-free-trading-1000-pa.html#post540010

I can advise I have now had clarification from AMP and Sam is correct in that commission and clearing fees are bundled. This deal only 'saves' the per trade commission component. So my example of a breakeven point is wrong.

The correct position would be: if you trade on 200 days of the year, you would need to r/t 10 ES contracts a day to breakeven on this deal ie you are avoiding the $0.25 per side commission if you paid $1000 up front for a year.

For a number of traders (incl several obvious traders on this site) that would be easy to achieve. Of course it is not limited to just ES - any instrument qualifies. Also it is not limited to one trading platform either. Trades on any trading platform that AMP supports will qualify. But read their fine print for some limited exclusions.

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  #326 (permalink)
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That looks correct in your case, but only if the clearing fees stays the same.
As both fees are bundled they could remove the commission part of the fees and rise the clearing part.
Who knows!


steve2222 View Post
Over on this closed thread:
https://futures.io/brokers-data-feeds/37744-amp-introduce-commission-free-trading-1000-pa.html @sam028 raised this point that needed clarification:



I responded to Sam with this post:

https://futures.io/brokers-data-feeds/37744-amp-introduce-commission-free-trading-1000-pa.html#post540010

I can advise I have now had clarification from AMP and Sam is correct in that commission and clearing fees are bundled. This deal only 'saves' the per trade commission component. So my example of a breakeven point is wrong.

The correct position would be: if you trade on 200 days of the year, you would need to r/t 10 ES contracts a day to breakeven on this deal ie you are avoiding the $0.25 per side commission if you paid $1000 up front for a year.

For a number of traders (incl several obvious traders on this site) that would be easy to achieve. Of course it is not limited to just ES - any instrument qualifies. Also it is not limited to one trading platform either. Trades on any trading platform that AMP supports will qualify. But read their fine print for some limited exclusions.


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  #327 (permalink)
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"FINAL ReVIEW.
Support
- Well, I have to say first, as told before that (in my case) debts were covered wich is a good point for AMP. It means that is not likely you run out of bussiness.
- Treatment was quite good, and problems or inquires were solved with no more than 1 day.
-Daily Statmens good detailed and accurate.
Order execution
Number of contract traded: 600 (more or less) contracts traded- during 6 months in differents conditions
-Execution speed were good or on average
- Buy-sell side. In low speed marketYou can obtain fast and good prices taking (4-5 ticks) (marketable or limits) orders for a customers and work orders close to NBBO [with a ratio of 98%] fast and reliable.

Software
-A huge variety.
I recommend them to carry your brokerage bussines for low capitalized firms or private brokers."

I have to update my review, my last 20 sell contract were filled and taken wich means a 100% in this case. Probably is not about the order execution itself but about the poor colocation in my past trades to make the reasearch. Still under research. Apologies then.


Last edited by Delawer; November 26th, 2015 at 10:27 AM. Reason: Updating
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  #328 (permalink)
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sam028 View Post
That looks correct in your case, but only if the clearing fees stays the same.
As both fees are bundled they could remove the commission part of the fees and rise the clearing part.
Who knows!

It is documented (probably in this thread) that some brokers or in this case FCM's have switched tactics to charging "clearing fees". Broker 1 may have a higher commission, but no clearing fee. Broker 2 may have a lower commission, or "free" commission, but a clearing fee that could result it your actual net cost being higher than broker 1.

But, another possibility is that the broker knows its customer base, and knows that the $300 and $400 margin guys that this particular broker is specifically targeting usually blow up their account in no more than 2-3 months (as an example), and therefore getting them to spend a one-time fee of $1,000 upfront actually is more profitable for the broker. This can be calculated by simply averaging the normal commissions for a typical customer until they blow up.

There is also the possibility that this promotion is an attempt to raise capital.

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  #329 (permalink)
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amp colo server and cqg feeds off by over a minute

I have a colo account with AMP in Chicago and I just added a bar timer to the chart. I've been using my home pc mostly but had this colo in anticipation of executing faster. I thought I'd share how their server time is over a minute off, even after I synched it. It works correctly at home but the CQG feed lags by almost 30 seconds at home when the bar timer should roll over it just sits there at 0 seconds for almost 30 seconds.

I think I need to move from AMP. Yes, I know I should've done it sooner.

I use my 401k there for trading, with Midland IRA as the administrator.

Anyone else used Midland and have a recommendation?

Thanks.

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  #330 (permalink)
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everetts View Post
I have a colo account with AMP in Chicago and I just added a bar timer to the chart. I've been using my home pc mostly but had this colo in anticipation of executing faster. I thought I'd share how their server time is over a minute off, even after I synched it. It works correctly at home but the CQG feed lags by almost 30 seconds at home when the bar timer should roll over it just sits there at 0 seconds for almost 30 seconds.

I think I need to move from AMP. Yes, I know I should've done it sooner.

I use my 401k there for trading, with Midland IRA as the administrator.

Anyone else used Midland and have a recommendation?

Thanks.

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I think your problem has nothing to do with AMP. My delay with CQG data feed is just a few ms and I never see that with AMP either.

I have rythmic and CQG I have NT and CQG IC +CQG Qtrader running at the same time each of them with different FCM and I never experience a delay that is more than the latency of my internet line + a few millisecond for the execution.

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