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AMP Futures / AMP Global Review

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  #11 (permalink)
Up the Ladder, CA
 
Experience: Beginner
Platform: SC
Broker: Optimus & AMP
Trading: ES
 
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rafiqtrader View Post
hey guys, i had a chance to call dan today at AMP. he talked to me for 30 minutes. he agreed that there was a lot of questions coming in after the initiation of the zenfire $25 inactivity fee and the addition of all the new platforms that where just added this month.

he confirmed that there should be no change in the total round commissions rate, that they had to seperate the technology cost from the commissions because all the new platforms had different cost. here is the email he sent me earlier.

We have expanded our available trading platforms and each has a different associated cost, so we had to separate the technology cost from the round-turn commission rate.
There is no change to your total "Round Turn" commissions.
This is just a seperation of technology cost from commissions.
Check out all the new platforms here:
http://www.ampclearing.com/platformfees.html
Happy Trading!
Dan

he was very kind to me and answered all of my questions. except when i asked him what the difference was between zenfire and rithmic. he said ask rithmic. I will ask matt in the optimus thread.

rafiqtrader,

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.

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  #12 (permalink)
Adelaide, Australia
 
 
Posts: 9 since Mar 2012
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Hi,


I can say this:

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.


Regards,
Marat

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  #13 (permalink)
Tomsk, Russia
 
Experience: Beginner
Platform: custom
Trading: gold
 
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Posts: 272 since Dec 2010
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TraderDownUnder View Post
Hi,

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.

Regards,
Marat

hi, Marat

It is the secret, but a year ago

And we are waiting for MD Trader with CQG support, not the charts: Brokers

It'll be a new source for the charts, imho


gd lck

Scientia Libertas Prosperitas
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  #14 (permalink)
Up the Ladder, CA
 
Experience: Beginner
Platform: SC
Broker: Optimus & AMP
Trading: ES
 
kalalex's Avatar
 
Posts: 216 since Mar 2011
Thanks: 247 given, 143 received

Ok.
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.

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  #15 (permalink)
Clearwater, Florida USA
 
 
Posts: 19 since Mar 2012
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Glad that Matt from Optimus was able to respond and set the record straight

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  #16 (permalink)
Up the Ladder, CA
 
Experience: Beginner
Platform: SC
Broker: Optimus & AMP
Trading: ES
 
kalalex's Avatar
 
Posts: 216 since Mar 2011
Thanks: 247 given, 143 received

Wow,,,
2 days in a row.
CQG through AMP is NOT really dependable.

Why every time I have trades on they have to have connection issues???

Worse thing is that I have to call and talk to one of THEM.

I think I'm done with this shop.

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  #17 (permalink)
Toronto, Canada
 
Experience: Advanced
Platform: NinjaTrader, MT4
Broker: Amp/CQG, Citibank
Trading: CL, GC, 6E, ES, TF, EURUSD, GBPJPY, AUDUSD
 
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Posts: 350 since Sep 2010
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FWIW I did not have a CQG outage today; I did along with everyone it seems, yesterday around 3pm NY afternoon.

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  #18 (permalink)
pittsburgh, pa
 
Experience: Intermediate
Platform: Ninjatrader, ensign, wave59
Broker: IB , AMP/ cqg
Trading: ES, CL
 
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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???

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  #19 (permalink)
Up the Ladder, CA
 
Experience: Beginner
Platform: SC
Broker: Optimus & AMP
Trading: ES
 
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Posts: 216 since Mar 2011
Thanks: 247 given, 143 received

I "THINK" they use some internet based phone system.
Lots of time you get busy signals for an extended period time.
Then you get connected only to have hard time listening whatever they say.....

I just sent an email to close the account.

I only chose/stayed with AMP because of CQG BUT again I "THINK" CQG over AMP isn't the same when it comes to stability.

That, I quote, "small issue" finally ticked me off today and brought the worst out of me to have the biggest losing day while I was with them.

I know I'm responsible for everything but I want the least possible excuses.

It doesn't matter any more now but I want to see if there were connection problems yesterday and today for straight CQG trader users also.

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  #20 (permalink)
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kalalex View Post
I only chose/stayed with AMP because of CQG BUT again I "THINK" CQG over AMP isn't the same when it comes to stability.

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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