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AMP Futures / AMP Global Review

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  #201 (permalink)
 fourtiwinks 
Singapore
 
Experience: Beginner
 
Posts: 206 since Jun 2011
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Jonson View Post
hey
try use a rithmic platform and connect gateway to Singapore

Hi @Jonson,

May I enquire how connect a rithmic gateway to Singapore?

Any links or information would be greatly appreciated..

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  #202 (permalink)
 Jonson 
Russia, St.Petersburg
 
Experience: Advanced
Platform: NinjaTrader, CQG Desktop
Broker: NinjaTrader/CQG
Trading: Futures
 
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fourtiwinks View Post
Hi @Jonson,

May I enquire how connect a rithmic gateway to Singapore?

Any links or information would be greatly appreciated..

download platform rithmic (its a free, rithmic trader pro on a subscription basis), when loading platform you will see a window for entering data into the platform, including the selection of the fastest gateway depending on your location

* If investing gets too difficult for a seventh grader to understand, the system is needlessly complex
* Markets produce an enormous volume of information, much of which is redundant
* In every game and con there's always an opponent, and there's always a victim. The trick is to know when you're the latter, so you can become the former
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  #203 (permalink)
 Jonson 
Russia, St.Petersburg
 
Experience: Advanced
Platform: NinjaTrader, CQG Desktop
Broker: NinjaTrader/CQG
Trading: Futures
 
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Posts: 246 since Jan 2011
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hi fourtiwinks again
if you are looking for a decent and brokerage company, then I think you better look at Optimusfutures, I did not see any negative reviews about them, in any case, they are closely in contact with traders and are active in the forums
GOODLUCK

* If investing gets too difficult for a seventh grader to understand, the system is needlessly complex
* Markets produce an enormous volume of information, much of which is redundant
* In every game and con there's always an opponent, and there's always a victim. The trick is to know when you're the latter, so you can become the former
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  #204 (permalink)
met68
Ragusa Italy
 
 
Posts: 50 since Jan 2014
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Have been with them for over a year now and every time there is an issue (and there are a lot!) the support is unresponsive and useless. Emails go unanswered, customers are left holding on the phone and live online support is use- and clueless.

They are cheap - and it shows.....

Avoid.

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  #205 (permalink)
 learning0101 
Houston, Texas
 
Experience: Intermediate
Platform: NinjaTrader,TOS,Etrade,St
Broker: NT:( tos,etrade,CS
Trading: stocks,options,futures,forex
 
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met68 View Post
Have been with them for over a year now and every time there is an issue (and there are a lot!) the support is unresponsive and useless. Emails go unanswered, customers are left holding on the phone and live online support is use- and clueless.

They are cheap - and it shows.....

Avoid.

hi @met68 , then why are you still with them?
Thanks

which goes for all the rest complainers. Then why are you still with them if so bad?
Just asking. Don't agree as well with all the BS that is going on, but lot of complainers that are still with them????????? WHY????????????
Me neutral don't care just seems kind of wierd.

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  #206 (permalink)
met68
Ragusa Italy
 
 
Posts: 50 since Jan 2014
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Fair question.

I have been with them and then changed to OEC. But then I ran into issues with OEC. I then went back to IB (where I also have an account, but kept getting crap fills.

So went back to AMP, mostly because I can use X_Trader Pro and Sierrachart with them cost effectively.

And now I am back to square one.

I am finding that basically retail traders get shafted everywhere, but some brokers are extremely bad and some only very bad ;-) And AMP qualify for the former - no question.

And yes, there are many more brokers t chose from, but opening accounts is not one of my favourite past time and since they are all crap, I think I may just stop trading. Markets are completely borked anyway (most notably so since last summer, but it is getting worse rapidly).

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  #207 (permalink)
 Joseph Connors 
Colorado Springs, CO USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Amp Futures. CQG
Trading: Futures
 
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met68 View Post
Fair question.

I have been with them and then changed to OEC. But then I ran into issues with OEC. I then went back to IB (where I also have an account, but kept getting crap fills.

So went back to AMP, mostly because I can use X_Trader Pro and Sierrachart with them cost effectively.

And now I am back to square one.

I am finding that basically retail traders get shafted everywhere, but some brokers are extremely bad and some only very bad ;-) And AMP qualify for the former - no question.

And yes, there are many more brokers t chose from, but opening accounts is not one of my favourite past time and since they are all crap, I think I may just stop trading. Markets are completely borked anyway (most notably so since last summer, but it is getting worse rapidly).


Boy....I guess you live under a cloud! The whole trading world is against you. Have you ever thought that maybe, just maybe, it might be you? Just a thought. Maybe ALL the brokers in the world are crap and thats why you lose?

Persistence! Nothing in the world can take the place of persistence.
Talent will not ... nothing is more common than unsuccessful men with talent.
Genius will not ... Unrewarded genius is almost a proverb.
Education will not ... The world is full of educated derelicts.
Persistence and determination alone are omnipotent!
Calvin Coolidge
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  #208 (permalink)
 Itchymoku 
Philadelphia
 
Experience: None
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met68 View Post
I have been with them and then changed to OEC. But then I ran into issues with OEC. I then went back to IB (where I also have an account, but kept getting crap fills.

I know this is a little off topic but -
What issues did you have with OEC?

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
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  #209 (permalink)
met68
Ragusa Italy
 
 
Posts: 50 since Jan 2014
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Joseph Connors View Post
Maybe ALL the brokers in the world are crap and thats why you lose?

And where did you read that I lose money trading? Ah, that's right, you did not. You just inferred/ implied and then went on to insinuate. Not intelligent.

And not that it is relevant to the matter at hand nor that it is any of your business, but my trading is profitable and the issues I keep having with brokers is not related to my trading performance. Not sure what makes you think the two are related.

I just know what good customer service looks like and AMP are way off. IB and OEC have other issues, but at least I have found their customer service to be more responsive, when there were issues. AMP simply will not even respond to e-mails or they hang-up on customers or let them hanging on a call.

Also, the reasons I have to interact with them in the first place are odd (if I were cynical I would say looking fraudulent).

AMP keep putting charges through my account and misreport trades in their favour all the time. And then trying to right the wrong using their unresponsive customer service is very frustrating.

Example at hand.

Last week, in one of my daily statements, they suddenly charge me for Sierrachart package 5. I have never ordered or requested this and never had it in the past.

Then on Friday, they misreport a trade in their favour.

So I call their main number and chose to talk to general support. I explain the two issues. I then get passed to the trading desk. Explain the issues again. Guy puts me on hold. I wait and listen to their on-hold music. But after 30 minutes of this playing in the background I hang up. I call again. Nobody knows anything about my last call, so I start all over again. The guy says he can have the trade desk send me the trade logs. I say that I would like to go through it with them on the phone. He (I think it was Dan/ Daniel?) says this is not possible and gives me an e-mail address. Asks me to explain the issue in the e-mail...... So I write an e-mail and I have yet to hear anything back. And on and on......

If this were a one off I would not be writing, but I have had very similar experiences with AMP many times in the past, so this is not a one-off. It is systematic and part of their pile them high sell them cheap business model. Really, avoid them if you can.

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  #210 (permalink)
met68
Ragusa Italy
 
 
Posts: 50 since Jan 2014
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Itchymoku View Post
I know this is a little off topic but -
What issues did you have with OEC?

There were major (dis-)connection issues between the OEC FIX data feed and Sierrachart earlier this year. Each party blamed the other (there are threads on this issue in th SC support forum), but given my experience with SC using IB and AMP/TTNet and given how responsive and professional I have found the SC support to be in the past, I tended to side with SC on this one. Also, when I then requested to withdraw the bulk of my funds, it took longer than was needed.

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  #211 (permalink)
 Righteous7 
Hong Kong
 
Experience: Beginner
Platform: Jforex, MetaTrader4, NinjaTrader, MultiCharts, Sierra Chart
Trading: TF, NG, CL, GC, FDAX, FGBL
 
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met68 View Post
And where did you read that I lose money trading? Ah, that's right, you did not. You just inferred/ implied and then went on to insinuate. Not intelligent.

And not that it is relevant to the matter at hand nor that it is any of your business, but my trading is profitable and the issues I keep having with brokers is not related to my trading performance. Not sure what makes you think the two are related.

I just know what good customer service looks like and AMP are way off. IB and OEC have other issues, but at least I have found their customer service to be more responsive, when there were issues. AMP simply will not even respond to e-mails or they hang-up on customers or let them hanging on a call.

Also, the reasons I have to interact with them in the first place are odd (if I were cynical I would say looking fraudulent).

AMP keep putting charges through my account and misreport trades in their favour all the time. And then trying to right the wrong using their unresponsive customer service is very frustrating.

Example at hand.

Last week, in one of my daily statements, they suddenly charge me for Sierrachart package 5. I have never ordered or requested this and never had it in the past.

Then on Friday, they misreport a trade in their favour.

So I call their main number and chose to talk to general support. I explain the two issues. I then get passed to the trading desk. Explain the issues again. Guy puts me on hold. I wait and listen to their on-hold music. But after 30 minutes of this playing in the background I hang up. I call again. Nobody knows anything about my last call, so I start all over again. The guy says he can have the trade desk send me the trade logs. I say that I would like to go through it with them on the phone. He (I think it was Dan/ Daniel?) says this is not possible and gives me an e-mail address. Asks me to explain the issue in the e-mail...... So I write an e-mail and I have yet to hear anything back. And on and on......

If this were a one off I would not be writing, but I have had very similar experiences with AMP many times in the past, so this is not a one-off. It is systematic and part of their pile them high sell them cheap business model. Really, avoid them if you can.

Hi met68,

Thank you for sharing your experience. As I mentioned earlier, I also had unsatisfactory experience with AMP. I think having lousy customer service is one thing, but reporting trades incorrectly is a much serious problem! I haven't noticed they misreport my trades, I'm using Ninjatrader+CQG data feed, so you might want to give it a try to see if they still misreport your trade.

I'm really sorry to hear that you have to gone through so much trouble, and I hope your future trades will get reported correctly.

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  #212 (permalink)
 traderTX 
pittsburgh, pa
 
Experience: Intermediate
Platform: Ninjatrader, ensign, wave59
Broker: IB , AMP/ cqg
Trading: ES, CL
 
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Posts: 152 since Mar 2010
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i have amp/ cqg ..
i cant say my experience has been that bad with them.
i trade very little and use them mostly as a data provider.
their customer support usually gets my questions answered.
why they havent upgraded their phone system is beyond me, everytime i call, it is so scratchy i can hardly understand the guy, and i always ask when are you guys going to upgrade your phones? and they usually say it is in progress...

as long as they dont go belly up like PFG did,,,

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"
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  #213 (permalink)
met68
Ragusa Italy
 
 
Posts: 50 since Jan 2014
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AMP really are the biggest clowns in town.

I am using X_Trader Pro and trade the YM contract. And guess what, AMP have the tick values of that contract setup wrongly on their TT Gateways. Instead of using a 5$ tick value, they show/ use a 1$ tick value.....

Obviously there can't be many AMP customers trading YM with X_Trader Pro, as I am amazed, this has not been picked up before.

Again, AMP are by far, the worst broker I have ever had the misfortune of trading with and I really will have to look into finding an other broker (yet again!).

Basically, if you trade with AMP, you need to check EVERYTHING to make sure, they have not screwed-up, because they seem to be screwing-up pretty much everything humanly possible.

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  #214 (permalink)
 Koepisch 
@ Germany
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: FDAX
 
Posts: 522 since Nov 2011
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met68 View Post
AMP really are the biggest clowns in town.

I am using X_Trader Pro and trade the YM contract. And guess what, AMP have the tick values of that contract setup wrongly on their TT Gateways. Instead of using a 5$ tick value, they show/ use a 1$ tick value...

Unbelievable, i was very amazed about the X Trader Pro / TTNet package from AMP, but i am really concerned if they can handle the technology in an professional way. I want to use the low latency connection thru an own server in frankfurt. But if they can't even set the risk setup right - it's not really trustworthy. Very sad.

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  #215 (permalink)
met68
Ragusa Italy
 
 
Posts: 50 since Jan 2014
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@Koepisch,

Yes, be very careful. I lost $1300 yesterday because of this. I was legged twice in a spread and ended up with a naked YM position both times. I went by the X_Trader Pro position P&L and bailed, when the losses across the two trades amounted to $260. In the daily statement I then see, that I lost $1300, because the position P&L in X_Trader picked-up 1$ instead of 5$ per contract.....

Would be interested in what you guys think the legal situation is here? Do I have any recourse against AMP for the difference between $1300 and $260?

Surely I can expect an expensive platform like X_Trader Pro to work and at least have the right contract specs for the most widely traded futures contracts out there?

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  #216 (permalink)
 Jonson 
Russia, St.Petersburg
 
Experience: Advanced
Platform: NinjaTrader, CQG Desktop
Broker: NinjaTrader/CQG
Trading: Futures
 
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Posts: 246 since Jan 2011
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met68 View Post
@Koepisch,

Yes, be very careful. I lost $1300 yesterday because of this. I was legged twice in a spread and ended up with a naked YM position both times. I went by the X_Trader Pro position P&L and bailed, when the losses across the two trades amounted to $260. In the daily statement I then see, that I lost $1300, because the position P&L in X_Trader picked-up 1$ instead of 5$ per contract.....

Would be interested in what you guys think the legal situation is here? Do I have any recourse against AMP for the difference between $1300 and $260?

Surely I can expect an expensive platform like X_Trader Pro to work and at least have the right contract specs for the most widely traded futures contracts out there?

hey
sad
try use t4 or rithmic platform

* If investing gets too difficult for a seventh grader to understand, the system is needlessly complex
* Markets produce an enormous volume of information, much of which is redundant
* In every game and con there's always an opponent, and there's always a victim. The trick is to know when you're the latter, so you can become the former
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  #217 (permalink)
 Koepisch 
@ Germany
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: FDAX
 
Posts: 522 since Nov 2011
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Jonson View Post
hey
sad
try use t4 or rithmic platform

I don't think that they have their quoting and risk managment servers within europe.

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  #218 (permalink)
 Jonson 
Russia, St.Petersburg
 
Experience: Advanced
Platform: NinjaTrader, CQG Desktop
Broker: NinjaTrader/CQG
Trading: Futures
 
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Koepisch View Post
I don't think that they have their quoting and risk managment servers within europe.

rithmic trader have gateway to europe when before enter to account
and for you too, mirus have a rithmic feed and eurex with rithmic too

* If investing gets too difficult for a seventh grader to understand, the system is needlessly complex
* Markets produce an enormous volume of information, much of which is redundant
* In every game and con there's always an opponent, and there's always a victim. The trick is to know when you're the latter, so you can become the former
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  #219 (permalink)
met68
Ragusa Italy
 
 
Posts: 50 since Jan 2014
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More AMP woes.....

I was trading some US index futures spreads on Thursday and Friday last week.

I have always wondered, how AMP calculated my margins on this, when I carried positions over-night. However they did it, they did it wrongly, by a factor of about 10 in my favour!

So on Thursday, I decided to carry two lots of the spreads I normally put on overnight, to see what would happen, as I did not have enough margin in the account to carry two lots, based on the way I calculated the initial and maintenance margin requirements for the contracts in question.

And lo and behold, AMP did not force liquidate any of the positions. Instead, the positions were still on on Friday, when the markets opened.

Now as I said, the positions in question are spreads, which have >90% of the market risk hedged.

So I figure, AMP must be treating my RegT account as a portfolio margin account (of sorts) and hence give me more margin to play with, recognising that I have a hedged position.

So I decide to carry the same sized position into the close on Friday.

But on Friday, for some bizarre reason, AMP now liquidate part of the position.

But it gets even more bizarre.

First, they actually liquidate all of one of the hedge legs.....

So now my account, while technically requiring less margin, in fact has an exponentially larger risk....

But there is more: sometime mid Friday afternoon, I transfer $10k from my AMP sub-account into the root account, which holds the positions described above. An internal transfer which I have done many times before and which is effective almost instantaneously - normally.

Only when the markets closed on Friday, the 10k were not in the root account.....

So the size of the forced liquidation was larger than it would have needed to be.

So on the open on Sunday, I decide I better move the 10k again...., but now, suddenly, the 10k appear in my root account as they should have sometime mid-afternoon on Friday (a few hours prior to the close, when I originally made the transfer).

If anything, I believe this is yet more evidence for the fact, that AMP haven't a clue what they are doing and that you all better be real careful ....

As I said, my margin calculations in the AMP daily satetements was wrong by a factor 10 (in my favour!) or so for as long as I can remember. If they do this systemically across all/ most accounts, then our monies may not be as safe as we all think they are....

I shall now move on. Not sure where to. My experience has not been a good one with any of the brokers I have used to date (i.e. AMP, OEC, IB - but AMP are by far the worst of the three!) and frankly I am tired of dealing with crappy brokers and may therefore stop trading altogether. I was trading full-time for a few months now and dealing with broker issues has been a constant headache. So I may just go a do something else instead.

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  #220 (permalink)
 Jonson 
Russia, St.Petersburg
 
Experience: Advanced
Platform: NinjaTrader, CQG Desktop
Broker: NinjaTrader/CQG
Trading: Futures
 
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Posts: 246 since Jan 2011
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hi met68
I recommend you not to despair and to recover, tie your account to another broker and make money

* If investing gets too difficult for a seventh grader to understand, the system is needlessly complex
* Markets produce an enormous volume of information, much of which is redundant
* In every game and con there's always an opponent, and there's always a victim. The trick is to know when you're the latter, so you can become the former
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  #221 (permalink)
met68
Ragusa Italy
 
 
Posts: 50 since Jan 2014
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Jonson View Post
hi met68
I recommend you not to despair and to recover, tie your account to another broker and make money

;-)

There was a nice spread trade shortly after the open today, but alas, AMP have blocked my account.....

Will give OEC another try. Hopefully they have resolved the FIX connection issues between them and Sierrachart. May also give eSignal a try (in combo with OEC), as eSignal seem to have some spread trading capability (to replace X_Trader Pro, which I used with AMP).

In summary, a whole lot of time and money wasted thanks to the repeated and manifold incompetences of AMP. Therefore certainly not a broker I would recommend to anybody who trades seriously.

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  #222 (permalink)
 Jonson 
Russia, St.Petersburg
 
Experience: Advanced
Platform: NinjaTrader, CQG Desktop
Broker: NinjaTrader/CQG
Trading: Futures
 
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Posts: 246 since Jan 2011
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met68 View Post
;-)

There was a nice spread trade shortly after the open today, but alas, AMP have blocked my account.....

Will give OEC another try. Hopefully they have resolved the FIX connection issues between them and Sierrachart. May also give eSignal a try (in combo with OEC), as eSignal seem to have some spread trading capability (to replace X_Trader Pro, which I used with AMP).

In summary, a whole lot of time and money wasted thanks to the repeated and manifold incompetences of AMP. Therefore certainly not a broker I would recommend to anybody who trades seriously.

The Rithmic trading platform service supports exchange traded spreads and strategies

* If investing gets too difficult for a seventh grader to understand, the system is needlessly complex
* Markets produce an enormous volume of information, much of which is redundant
* In every game and con there's always an opponent, and there's always a victim. The trick is to know when you're the latter, so you can become the former
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  #223 (permalink)
met68
Ragusa Italy
 
 
Posts: 50 since Jan 2014
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@ Jonson,

Thanks. I have tried the Rithmic platform and didn't get along with it. Just a personal thing. Also, I do not trade exchange traded spreads, but create my own instead.

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  #224 (permalink)
 Tudi 
Germany Hamburg
 
Experience: Intermediate
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Hello,

Do know someone why AMP donīt allowed to trade Calenderspreads?


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  #225 (permalink)
met68
Ragusa Italy
 
 
Posts: 50 since Jan 2014
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AMP is getting more bizarre by the minute.

So apart from blocking my account for trading, I have spoken to the AMP support team about why my overnight spread position last Thursday was treated completely differently just a day later, resulting in a forced liquidation of part of the spread (or rather one leg of the spread). The support team tell me, that they cannot tell me, but that I need to contact trading@ampclearing.com, which seems to be the e-mail address of Dan Culp, who I think is the AMP President.

But I have not heard back from him.

In the meantime, I am finding that an other internal transfer has happened between my two accounts. But this transfer was not requested by me and both accounts are flat and have plenty of funds. So this is now the second time, AMP have transferred funds between my accounts without instruction from me to do so. And when I last requested such a transfer, the requested transfer did not happen.

I am glad to be getting out, as the rate of random AMP actions relating to my accounts is increasing at an alarming rate. They are clearly out-of-control now.

Time I think for me to get a solicitor involved, given the various things that have happened these last few days.

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  #226 (permalink)
 Jonson 
Russia, St.Petersburg
 
Experience: Advanced
Platform: NinjaTrader, CQG Desktop
Broker: NinjaTrader/CQG
Trading: Futures
 
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Posts: 246 since Jan 2011
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met68 View Post
AMP is getting more bizarre by the minute.

So apart from blocking my account for trading, I have spoken to the AMP support team about why my overnight spread position last Thursday was treated completely differently just a day later, resulting in a forced liquidation of part of the spread (or rather one leg of the spread). The support team tell me, that they cannot tell me, but that I need to contact trading@ampclearing.com, which seems to be the e-mail address of Dan Culp, who I think is the AMP President.

But I have not heard back from him.

In the meantime, I am finding that an other internal transfer has happened between my two accounts. But this transfer was not requested by me and both accounts are flat and have plenty of funds. So this is now the second time, AMP have transferred funds between my accounts without instruction from me to do so. And when I last requested such a transfer, the requested transfer did not happen.

I am glad to be getting out, as the rate of random AMP actions relating to my accounts is increasing at an alarming rate. They are clearly out-of-control now.

Time I think for me to get a solicitor involved, given the various things that have happened these last few days.

uhhh...

* If investing gets too difficult for a seventh grader to understand, the system is needlessly complex
* Markets produce an enormous volume of information, much of which is redundant
* In every game and con there's always an opponent, and there's always a victim. The trick is to know when you're the latter, so you can become the former
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  #227 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
 
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Posts: 1,588 since Sep 2010
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Jonson View Post
uhhh...




AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #228 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,135 since Jul 2011
Thanks: 2,388 given, 1,726 received

Just a fun thought. I noticed when receiving a statement email from one my broker's AMP
that they also had an office address in Los Angeles! Right in Century City, Beverly Hills,
off of the Santa Monica Blvd. (google maps photos attached)

So probably somewhere in the building to the right. And the treeline on the far right is the
famous BH wooded area.

Interesting, TDAmeritrade (/w ThinkorSwim) also has a nice new office area close to the Rodeo and Wilshire central
areas of Beverly Hills. Like a new financial trading area of the West coast traders.


AMP Global Clearing | NinjaTrader | AMP Global Clearing (FCM)

Chicago Office - 221 N LaSalle St, 24th Floor | Chicago | Illinois | 60601

Los Angeles Office – 1801 Avenue of the Stars, Suite 800 | Los Angeles | California | 90067

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  #229 (permalink)
 learning0101 
Houston, Texas
 
Experience: Intermediate
Platform: NinjaTrader,TOS,Etrade,St
Broker: NT:( tos,etrade,CS
Trading: stocks,options,futures,forex
 
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Posts: 268 since Aug 2011
Thanks: 3,538 given, 214 received

If so many people have probs why do you still use them?
Just move on??
Not like there aren't many options to chose from??

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  #230 (permalink)
 Righteous7 
Hong Kong
 
Experience: Beginner
Platform: Jforex, MetaTrader4, NinjaTrader, MultiCharts, Sierra Chart
Trading: TF, NG, CL, GC, FDAX, FGBL
 
Posts: 38 since May 2013
Thanks: 37 given, 35 received


learning0101 View Post
If so many people have probs why do you still use them?
Just move on??
Not like there aren't many options to chose from??

The main reason some people still stick with Amp is because of their low day-trading margin and the lowest commission for those connecting to TTnet.

Now that the new Ninjatrader brokerage has very low commission for lifetime license holders, I'm switching to them next month. I really had enough of Amp's unprofessional and discourteous way of dealing with so many problems!!! I'd rather pay slightly higher commission at the Ninjatrader broker (Continuum is slightly more expensive than Amp's TTnet currently), then to worry sick about my AMP account!!!

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  #231 (permalink)
 Righteous7 
Hong Kong
 
Experience: Beginner
Platform: Jforex, MetaTrader4, NinjaTrader, MultiCharts, Sierra Chart
Trading: TF, NG, CL, GC, FDAX, FGBL
 
Posts: 38 since May 2013
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met68 View Post
AMP is getting more bizarre by the minute.

So apart from blocking my account for trading, I have spoken to the AMP support team about why my overnight spread position last Thursday was treated completely differently just a day later, resulting in a forced liquidation of part of the spread (or rather one leg of the spread). The support team tell me, that they cannot tell me, but that I need to contact trading@ampclearing.com, which seems to be the e-mail address of Dan Culp, who I think is the AMP President.

But I have not heard back from him.

In the meantime, I am finding that an other internal transfer has happened between my two accounts. But this transfer was not requested by me and both accounts are flat and have plenty of funds. So this is now the second time, AMP have transferred funds between my accounts without instruction from me to do so. And when I last requested such a transfer, the requested transfer did not happen.

I am glad to be getting out, as the rate of random AMP actions relating to my accounts is increasing at an alarming rate. They are clearly out-of-control now.

Time I think for me to get a solicitor involved, given the various things that have happened these last few days.

I almost held my spread positions overnight too, fortunately I asked Amp about their overnight margin requirement ahead of time! On Amp's margin requirement page, they clearly stated that the overnight margin is set by CME, but when I showed them CME's margin discount on certain overnight spread, they simply told me that they don't honor those discount! Thus in Amp, spread or no spread, the margin requirements are the same.

Recently, for the first time, I noticed 2 undisclosed charges on my statement, emailed them to clarify, and as usual, I haven't received any reply. Having unexplained charges on my financial statement is where I draw the line, I can no longer trust this broker, and I'm leaving very soon.

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  #232 (permalink)
 CFuture 
cologne, europe
 
Experience: Intermediate
Platform: ninjatrader, t4-trader
Broker: ninjatrader/cqg
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Does this mean you got a margin call based on AMPīs publicly announced overnight margins?

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  #233 (permalink)
 Righteous7 
Hong Kong
 
Experience: Beginner
Platform: Jforex, MetaTrader4, NinjaTrader, MultiCharts, Sierra Chart
Trading: TF, NG, CL, GC, FDAX, FGBL
 
Posts: 38 since May 2013
Thanks: 37 given, 35 received


CFuture View Post
Does this mean you got a margin call based on AMPīs publicly announced overnight margins?

It's not really a "call", since nobody would try to contact/warn you, Amp's system would just liquidate your account if you don't meet the margins published on their website, regardless of what's on CME's website.

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  #234 (permalink)
 learning0101 
Houston, Texas
 
Experience: Intermediate
Platform: NinjaTrader,TOS,Etrade,St
Broker: NT:( tos,etrade,CS
Trading: stocks,options,futures,forex
 
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Posts: 268 since Aug 2011
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Just thought I would post a note regarding AMP.
Just initiated a phone call from me to them as an inquiry and received an utmost disrespectful response from whomever the phone person was at the time. Meaning the F u and many other non-mentionables.
WOW
just wanted to post it as-is(was not expecting that, but WOW)


p.s.
I understand many have had relationships with them for long time(and f so geez louise) Instruct one how should deal with such!
Thanks in advance

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  #235 (permalink)
loonietrader
Calgary, Alberta
 
 
Posts: 29 since Jan 2012
Thanks: 7 given, 14 received

I have had an account with AMP for around 8 months. If you need help with your platform, deal with the platform provider and not directly with AMP customer service (as they will not be of much assistance). If you have a funding issue you will need to email their funding department as, in my experience, they do not seem to respond to anything via phone. The 'clearing fee' that many people on this forum seem to take issue with is included in the RT rates which to my knowledge are some of the cheapest retail rates in the industry. I have had issues with incorrect billing of platform fees to my account, but after emailing the mistake it is corrected within 48 hours.

I guess this is not a good review or a bad review. If you are someone that requires a lot of assistance and find yourself calling a broker's customer service line regularly, then I would suggest going elsewhere. If you are already comfortable with trading futures and have patience with minor issues then I believe AMP may work for you... having said that, I have not had a 'major issue' and can not comment on how it would be handled.

Amp really is a bit of a mystery. Advertising the ultra low commissions and margins is what brings them most of the individuals brand new to trading - new traders would require the most customer service which is what most people on this forum complain about when referring to AMP.

If this company could get their customer service on par with others in the industry they would likely be one of the best options!

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  #236 (permalink)
 traderwerks 
Taipei Taiwan
 
Experience: Advanced
Platform: NinjaTrader
Broker: AMP Clearing
Trading: TW
 
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loonietrader View Post
The 'clearing fee' that many people on this forum seem to take issue with is included in the RT rates which to my knowledge are some of the cheapest retail rates in the industry.

No it is not included which makes their rates higher. I have posted parts of my statement showing the $1.00 clearing fee in addition to the comms.



loonietrader View Post
I have had issues with incorrect billing of platform fees to my account, but after emailing the mistake it is corrected within 48 hours.

You are lucky. When I had problem, they never resolved anything.


loonietrader View Post
Amp really is a bit of a mystery. Advertising the ultra low commissions and margins is what brings them most of the individuals brand new to trading - new traders would require the most customer service which is what most people on this forum complain about when referring to AMP.

They make money until the new trader blows out or until the new trader moves on to a better broker. IMHO, they live on churning traders.


loonietrader View Post

If this company could get their customer service on par with others in the industry they would likely be one of the best options!

If it has not happened now, it probably never will.

Math. A gateway drug to reality.
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  #237 (permalink)
loonietrader
Calgary, Alberta
 
 
Posts: 29 since Jan 2012
Thanks: 7 given, 14 received

HI traderwerks,

Can you re-post your statement showing Amp's $1 Clearing fee is in addition to all other commission charges? I am unable to find them on the site.

On my daily statements from AMP I see only the following info regarding commission charges:

Total Commission and Fees: $XX.XX

Which is the broken down by:

Exchange: $XX.XX
NFA: $XX.XX
Clearing Client: $XX.XX
Rithmic TRF: :$XX.XX

Exchange + NFA + Clearing Client + Rithmic TRF (in my case) = Total Commission and Fees

In my case that is $3.94 per contract RT for CL and GC. There are no other additional fees indicated.

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  #238 (permalink)
 traderwerks 
Taipei Taiwan
 
Experience: Advanced
Platform: NinjaTrader
Broker: AMP Clearing
Trading: TW
 
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loonietrader View Post
HI traderwerks,

Can you re-post your statement showing Amp's $1 Clearing fee is in addition to all other commission charges? I am unable to find them on the site.

On my daily statements from AMP I see only the following info regarding commission charges:

Total Commission and Fees: $XX.XX

Which is the broken down by:

Exchange: $XX.XX
NFA: $XX.XX
Clearing Client: $XX.XX
Rithmic TRF: :$XX.XX

Exchange + NFA + Clearing Client + Rithmic TRF (in my case) = Total Commission and Fees

In my case that is $3.94 per contract RT for CL and GC. There are no other additional fees indicated.




This was trading the ES from a year ago I believe so maybe the format has changed. I had a line for commission.

 
Code
Exchange: $XX.XX
NFA: $XX.XX
Clearing Client: $XX.XX
CQG TRF: :$XX.XX
Commission: $XX.XX  <- I have this line
So I have a $1.00 per R/T clearing fee. What did they charge you for 'Clearing Client' ?

Math. A gateway drug to reality.
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  #239 (permalink)
loonietrader
Calgary, Alberta
 
 
Posts: 29 since Jan 2012
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0.50 per contract RT on GC and CL (included in Total Comm).

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  #240 (permalink)
MoreYummy
Toronto/Ontario
 
 
Posts: 33 since Mar 2010
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traderwerks View Post



This was trading the ES from a year ago I believe so maybe the format has changed. I had a line for commission.

 
Code
Exchange: $XX.XX
NFA: $XX.XX
Clearing Client: $XX.XX
CQG TRF: :$XX.XX
Commission: $XX.XX  <- I have this line
So I have a $1.00 per R/T clearing fee. What did they charge you for 'Clearing Client' ?

You dont have the current statement to show that fee?

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  #241 (permalink)
 Only 
Frankfurt
 
Experience: Intermediate
Platform: Ninjatrader
Broker: IB
Trading: ES
 
Posts: 146 since Dec 2012
Thanks: 97 given, 49 received

i think it depends on which account you have. flat rate or volume tired.
if you have volume tired you have the commission line on the statement. flat rate needs account value over 10k.

Btw, no problems with Amp.

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  #242 (permalink)
 supermht 
Naperville IL
 
Experience: Intermediate
Platform: ninjatrader
Broker: NT broker
Trading: NQ ES 6E GC CL
 
Posts: 958 since Feb 2010
Thanks: 1,189 given, 658 received


Only View Post
i think it depends on which account you have. flat rate or volume tired.
if you have volume tired you have the commission line on the statement. flat rate needs account value over 10k.

Btw, no problems with Amp.


By the way, AMP has problems with customers.

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  #243 (permalink)
 traderwerks 
Taipei Taiwan
 
Experience: Advanced
Platform: NinjaTrader
Broker: AMP Clearing
Trading: TW
 
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Thanks: 434 given, 464 received


MoreYummy View Post
You dont have the current statement to show that fee?

I no longer trade with them, I switched to DDT. It does not make sense to stay with a broker that has really bad customer service and higher rates.

I emailed and called them about this ( and other issues I had ) and I usually did not get a reply or I would get a "we will look into it and get back to you", which they never did.

Math. A gateway drug to reality.
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  #244 (permalink)
 Joseph Connors 
Colorado Springs, CO USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Amp Futures. CQG
Trading: Futures
 
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Posts: 63 since Jul 2012
Thanks: 28 given, 50 received

Has anyone been having problems with NT, or any platform, on AMP with "Pending/Submit" order status issues? I have been having problems of late and this morning it cost me 5 ES points! I place my order and immediately the order status shows "Pending/Submit" whereas it should immediately go to "Working". I have to dis-connect/re-connect to cancel the order. Anyone having these problems?

Persistence! Nothing in the world can take the place of persistence.
Talent will not ... nothing is more common than unsuccessful men with talent.
Genius will not ... Unrewarded genius is almost a proverb.
Education will not ... The world is full of educated derelicts.
Persistence and determination alone are omnipotent!
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  #245 (permalink)
 Malthus 
Madrid Spain
 
Experience: Intermediate
Platform: Ninjatrader, TOS
Trading: ES
 
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Joseph Connors View Post
Has anyone been having problems with NT, or any platform, on AMP with "Pending/Submit" order status issues? I have been having problems of late and this morning it cost me 5 ES points! I place my order and immediately the order status shows "Pending/Submit" whereas it should immediately go to "Working". I have to dis-connect/re-connect to cancel the order. Anyone having these problems?

I've been using Ninjatrader (and AMP) for 6 months and it happened something similar to me 2 months ago. My order was filled but it wouldn't let me get out! I also had to exit the program and disconnect and reconnect a few times until it worked. Thank God it as a winner. It hasn't happened again since that time.

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  #246 (permalink)
 NinjaTrader  NinjaTrader is an official Site Sponsor
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Joseph Connors View Post
Has anyone been having problems with NT, or any platform, on AMP with "Pending/Submit" order status issues? I have been having problems of late and this morning it cost me 5 ES points! I place my order and immediately the order status shows "Pending/Submit" whereas it should immediately go to "Working". I have to dis-connect/re-connect to cancel the order. Anyone having these problems?

If this happens, you should immediately call AMP to ensure you know the state of your orders/positions. Then follow up with NinjaTrader support to have us look into this.

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  #247 (permalink)
 dakine 
Volcano, HI
 
Experience: None
Platform: Ninja
Broker: AMP/CQG
Trading: Futura2000
 
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Joseph Connors View Post
Has anyone been having problems with NT, or any platform, on AMP with "Pending/Submit" order status issues? I have been having problems of late and this morning it cost me 5 ES points! I place my order and immediately the order status shows "Pending/Submit" whereas it should immediately go to "Working". I have to dis-connect/re-connect to cancel the order. Anyone having these problems?

I had some issues this morning when placing an order "AMP This account is only allowed to liquidate open positions affected order..." Contacted AMP support and they fixed me right up.

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  #248 (permalink)
 Zxeses 
San Francisco CA
 
Experience: Intermediate
Platform: Ninja
Broker: CQG
Trading: ES
 
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Posts: 139 since Jun 2014
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I had this same problem. Got AMP on the chat, they has me turn off oco... Never had the problem again since..

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  #249 (permalink)
 NinjaTrader  NinjaTrader is an official Site Sponsor
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Joseph Connors View Post
Has anyone been having problems with NT, or any platform, on AMP with "Pending/Submit" order status issues? I have been having problems of late and this morning it cost me 5 ES points! I place my order and immediately the order status shows "Pending/Submit" whereas it should immediately go to "Working". I have to dis-connect/re-connect to cancel the order. Anyone having these problems?

Make sure you are also on the latest NinjaTrader version, there was a "PendingSubmit" issue resolved in release 23 on June 9th of this year.

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  #250 (permalink)
 Zxeses 
San Francisco CA
 
Experience: Intermediate
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Broker: CQG
Trading: ES
 
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Fyi, my first version of NJ 7 was revision 23, and after the first "pending/submit" bug I ran into, I went and upgraded to revision 25, still happened until OCO was turned off.

Upon some initial research, it seems to be related to the ID numbers given to the orders and CQG getting an order to modify/cancel an order for an ID that doesnt exist (I don't know more then that, logs are vague)

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  #251 (permalink)
 NinjaTrader  NinjaTrader is an official Site Sponsor
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Zxeses View Post
Fyi, my first version of NJ 7 was revision 23, and after the first "pending/submit" bug I ran into, I went and upgraded to revision 25, still happened until OCO was turned off.

Upon some initial research, it seems to be related to the ID numbers given to the orders and CQG getting an order to modify/cancel an order for an ID that doesnt exist (I don't know more then that, logs are vague)

Thanks for the information. If you have not done so already, you should report this to our support team so we can investigate further.

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  #252 (permalink)
terribletrader
United Kingdom
 
 
Posts: 14 since Mar 2015
Thanks: 0 given, 2 received

Hi all,

I have just read this thread from start to finish. I am a full time trader and was thinking about signing up to AMP to take advantage of their X trader/TT on the transactional model.

Obviously I appreciate the background Big M vs AMP but that aside is there any recent feedback ??

thanks

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  #253 (permalink)
 scalpingticks 
Chicago, IL
 
Experience: Intermediate
Platform: Ninjatrader
Broker: AMP
Trading: CL, TF
 
Posts: 41 since Jul 2012
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terribletrader View Post
Hi all,

I have just read this thread from start to finish. I am a full time trader and was thinking about signing up to AMP to take advantage of their X trader/TT on the transactional model.

Obviously I appreciate the background Big M vs AMP but that aside is there any recent feedback ??

thanks

Amp is great... I don't give one F about the legal issues...lots of people are BM fanboys around here.

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  #254 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
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scalpingticks View Post
Amp is great... I don't give one F about the legal issues...lots of people are BM fanboys around here.

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  #255 (permalink)
 JustinIsHere 
Montreal, Canada
 
Experience: Beginner
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terribletrader View Post
Hi all,

I have just read this thread from start to finish. I am a full time trader and was thinking about signing up to AMP to take advantage of their X trader/TT on the transactional model.

Obviously I appreciate the background Big M vs AMP but that aside is there any recent feedback ??

thanks

Optimus Futures also offer X trader/TT. They clear through AMP Clearing for Canadian clients, not sure for UK.
What Futures Commodities Platform Software Should You Choose?

message @mattz (https://futures.io/trading_member/7726-mattz.html) for more info, or ask in their thread:

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  #256 (permalink)
 mattz   is a Vendor
 
 
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JustinIsHere View Post
Optimus Futures also offer X trader/TT. They clear through AMP Clearing for Canadian clients, not sure for UK.
What Futures Commodities Platform Software Should You Choose?

message @mattz (https://futures.io/trading_member/7726-mattz.html) for more info, or ask in their thread:

@JustinIsHere Thank you!

Yes, we do clear for UK customers.
As mentioned above, we can answer all questions on our thread.

Thanks,
Matt

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

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
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  #257 (permalink)
terribletrader
United Kingdom
 
 
Posts: 14 since Mar 2015
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I am having some difficulties sending the minimum payment of $500 to AMP to get an account set up before sending a larger amount to fund my trading

When trading futures with AMP or for a firm who clear through AMP where are people sending their funds??

AMP GLobal Clearing -Funding Instructions

I assume people based in USA send funds to?:

Account Name: AMP Global Clearing, LLC Customer Segregated Funds

Account Number: 1610807

ABA Number: 071000288

Are people NOT in the USA sending their money to this account or an alternative one ??

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  #258 (permalink)
Alphachase
Nicosia, Cyprus
 
 
Posts: 191 since Dec 2013
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I see no any reason why you should have difficulties with your transfer. There are all necessary details provided on the page you referred to. Depends on your bank you should either choose a correct branch (by ABA code) of bank-recipient or use correct SWIFT code in order to wire funds to US banks.

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  #259 (permalink)
terribletrader
United Kingdom
 
 
Posts: 14 since Mar 2015
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Ok I finally got this sorted. In the end it only took a few minutes from me sending the money from my UK account to AMP informing me they had received the funds in the US. Excellent!

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  #260 (permalink)
 Delawer 
LEON / SPAIN
 
Experience: Intermediate
Platform: Ninjatrader, Bookmap
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I cant give them a good review. 9/10 wins in a row. Then after a withdrawal 3/3 lost doing the same. Also after closing positions i reenter and positions were open. For me they cant be trustable or something smell bad. Probably is how paid for orderflow is but I tested and could watch the effect or your order flow against.

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  #261 (permalink)
 Big Mike 
Site Administrator
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  #262 (permalink)
 sam028 
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Not very surprising...

Success requires no deodorant! (Sun Tzu)
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  #263 (permalink)
 Delawer 
LEON / SPAIN
 
Experience: Intermediate
Platform: Ninjatrader, Bookmap
Broker: TT/Amp, IQFEED
Trading: Stocks, FUTURES
 
Posts: 22 since Sep 2014
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agree, you can also check the date i wrote my review..so close to their punish, thank you mike =)

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  #264 (permalink)
 Dasani 
United States of America
 
Experience: Advanced
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I wonder what the chances are of AMP going under because of this?

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  #265 (permalink)
paulg
NY
 
 
Posts: 90 since Sep 2009
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We are 30 days after the complaint... did NFA allow an extension of time for a reply or.. is there any update?

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  #266 (permalink)
 timmyb 
duluth,mn
 
Experience: Advanced
Platform: ninja,thinkorswim
Broker: Amp-Zenfire
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Posts: 653 since Feb 2010
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I didnt realize all the issues as of late, I havent been around, I am wondering now if I should have funded back with them. Any current customers give state of the company. Or BM even via PM. Just curious if my money tho small should be sitting with them

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  #267 (permalink)
 skoosht 
Los Angeles, CA, USA
 
Experience: Intermediate
Platform: Sierra Chart
Broker: AMP/TT
Trading: ES
 
Posts: 12 since Jan 2012
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timmyb View Post
I didnt realize all the issues as of late, I havent been around, I am wondering now if I should have funded back with them. Any current customers give state of the company. Or BM even via PM. Just curious if my money tho small should be sitting with them


I'm not going to get into any internal disputes here. Just stating facts related to my experience with AMP.
I've been with them for 3 years, have had nothing but exceptional service. Fast, reliable, rock solid data even during the last two weeks of crazy volatility. I'm using TT/Sierra Chart FYI.


--skoosht

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  #268 (permalink)
 steve2222 
Auckland, New Zealand
 
Experience: Beginner
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Broker: AMP/CQG
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skoosht View Post
Fast, reliable, rock solid data even during the last two weeks of crazy volatility. I'm using TT/Sierra Chart FYI.


--skoosht

ditto that.

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  #269 (permalink)
 jossfx 
Almeria / Spain
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaBrokerage/CQG
Trading: 6E, ES, CL, GC
 
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hi friends,

I was thinking of opening an account in AMP Futures, because I tested the NinjaTrader7/CQG demo of AMP Futures.
Then I contacted with AMP to open NinjaTrader7/CQG account, but they told me: NinjaTrader will no longer be available for new customers after March 10, 2015.

Do I have others solutions for NinjaTrader7/CQG?

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  #270 (permalink)
 Zxeses 
San Francisco CA
 
Experience: Intermediate
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Broker: CQG
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jossfx View Post
hi friends,

I was thinking of opening an account in AMP Futures, because I tested the NinjaTrader7/CQG demo of AMP Futures.
Then I contacted with AMP to open NinjaTrader7/CQG account, but they told me: NinjaTrader will no longer be available for new customers after March 10, 2015.

Do I have others solutions for NinjaTrader7/CQG brokerage?

If you must have Ninja, you no longer have any choice except Ninja Brokerage.

Honestly, Ninja has become dead weight, as a new person you should investigate Sierra Chart. Then you can choose the broker that fits your needs. Ninja has become a $1000 tax, who needs that?

Im still using ninja, its slow, the nt8 upgrade i was expecting 12 months ago is nowhere, and I wish Id spent the last year learning a new platform...

I guess im a bit moody today, but its not because I was insulted with a $50 coupon by a Ninja salesman yesterday.

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  #271 (permalink)
 jossfx 
Almeria / Spain
 
Experience: Intermediate
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Broker: NinjaBrokerage/CQG
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Zxeses View Post
If you must have Ninja, you no longer have any choice except Ninja Brokerage.

Honestly, Ninja has become dead weight, as a new person you should investigate Sierra Chart. Then you can choose the broker that fits your needs. Ninja has become a $1000 tax, who needs that?

Im still using ninja, its slow, the nt8 upgrade i was expecting 12 months ago is nowhere, and I wish Id spent the last year learning a new platform...

I guess im a bit moody today, but its not because I was insulted with a $50 coupon by a Ninja salesman yesterday.

thanks for your answer.

Do you use NinjaBrokerage?
are the CQG data for NinjaBrokerage free? and kinetick?

Also I have a doubt with the terminology. can you help me?



thanks friend

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  #272 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
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I moved over to AMP recently, after several discussions with Matt at Optimus Futures. I was a bit hesitant at first but the AMP fees were very attractive and I decided to give it a try. That was several months ago, and the experience has been great.

I read a lot of this thread. I have looked up many brokers on the NFA website, almost all of them have had some sort of violation and/or disciplinary action. There is no need to mention them, but many names that would be recognized.

AMP not only has a commission structure that is roughly 20% less than I was used to paying, they also pay for my Sierra Chart platform (Package 3). That savings adds up over time for an active trader. I am a huge Sierra fan, but if I ever did decide to try something new, I like that AMP offers a lot of options, covering the cost of many of them. I downloaded a new one recently just to look, no cost.

The data with TT Net is just as fast as Rithmic, with zero down time since I moved there. Zero. (and of course, Sierra never fails...)

The customer interface on their website is actually preferred to me over some other brokers I have used. I schedule a withdraw online, takes 2 minutes, money hits my account in a day.

As I sit here thinking about it, I cannot even come up with anything to say. Both sides always answer the phone quickly, both have always helped with anything I have ever asked. The trade desk at AMP is fast and professional. Matt at Optimus is a very straight shooter.

Overall, my opinion, I could not be any happier with the Optimus / AMP combination.

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  #273 (permalink)
 cogito 
Washington DC
 
Experience: Intermediate
Platform: InvestorRT
Broker: TD Ameritrade, AMP/CQG
Trading: ES
 
Posts: 206 since Aug 2014
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Thanks for posting your recent experience.



GaryD View Post
I moved over to AMP recently, after several discussions with Matt at Optimus Futures. I was a bit hesitant at first but the AMP fees were very attractive and I decided to give it a try. That was several months ago, and the experience has been great.

I read a lot of this thread. I have looked up many brokers on the NFA website, almost all of them have had some sort of violation and/or disciplinary action. There is no need to mention them, but many names that would be recognized.

AMP not only has a commission structure that is roughly 20% less than I was used to paying, they also pay for my Sierra Chart platform (Package 3). That savings adds up over time for an active trader. I am a huge Sierra fan, but if I ever did decide to try something new, I like that AMP offers a lot of options, covering the cost of many of them. I downloaded a new one recently just to look, no cost.

The data with TT Net is just as fast as Rithmic, with zero down time since I moved there. Zero. (and of course, Sierra never fails...)

The customer interface on their website is actually preferred to me over some other brokers I have used. I schedule a withdraw online, takes 2 minutes, money hits my account in a day.

As I sit here thinking about it, I cannot even come up with anything to say. Both sides always answer the phone quickly, both have always helped with anything I have ever asked. The trade desk at AMP is fast and professional. Matt at Optimus is a very straight shooter.

Overall, my opinion, I could not be any happier with the Optimus / AMP combination.


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  #274 (permalink)
 torroray 
Malaysia
 
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Broker: MB Trading
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GaryD View Post
I moved over to AMP recently, after several discussions with Matt at Optimus Futures. I was a bit hesitant at first but the AMP fees were very attractive and I decided to give it a try. That was several months ago, and the experience has been great.

I read a lot of this thread. I have looked up many brokers on the NFA website, almost all of them have had some sort of violation and/or disciplinary action. There is no need to mention them, but many names that would be recognized.

AMP not only has a commission structure that is roughly 20% less than I was used to paying, they also pay for my Sierra Chart platform (Package 3). That savings adds up over time for an active trader. I am a huge Sierra fan, but if I ever did decide to try something new, I like that AMP offers a lot of options, covering the cost of many of them. I downloaded a new one recently just to look, no cost.

The data with TT Net is just as fast as Rithmic, with zero down time since I moved there. Zero. (and of course, Sierra never fails...)

The customer interface on their website is actually preferred to me over some other brokers I have used. I schedule a withdraw online, takes 2 minutes, money hits my account in a day.

As I sit here thinking about it, I cannot even come up with anything to say. Both sides always answer the phone quickly, both have always helped with anything I have ever asked. The trade desk at AMP is fast and professional. Matt at Optimus is a very straight shooter.

Overall, my opinion, I could not be any happier with the Optimus / AMP combination.

Hi Gary,

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

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  #275 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
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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?

They will send you a commission quote if you request it, you pick your instrument, platform and data feed, and can compare them. There is a link you will receive. and you can try all kinds of pricing options. The TT Net feed was the least expensive for me using Sierra. About 20%v lower than what I have been paying, and seriously no difference in quality.

I use 2 and 3 tick charts for microscopic views, and 1 minute for volume. I ran one , then the other (Rithmic), back to back, side by side. TT Net is pure seamless.

Now, I have seen variances in calculation of things, like VPOC between data feeds, and in that regard there did seem to be difference between almost all data providers. Price moves up and down, trade accordingly.

A data feed that keeps up with real time, zero lag, never goes out... That is what TT Net has been since day one, and every day after. And costs the least of any other combination (+ Sierra) that I have ever tried.

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  #276 (permalink)
 GaryD 
Orlando, Florida
 
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Posts: 6,462 since May 2011

I did my own thing for years. Tried SO many platforms and data feeds. Not fair to list, but if it is a big name I probably tried it at some point.

Last year I was looking at AMP/TT, and very concerned about the low price. For me, I called Matt at Optimus and asked his advice on whether I should move or not. He starts, " OK, I am going to tell you the truth of what I believe..." One of the best things about him.... He spent probably 30 minutes on the phone with me, going over the pros and cons.

So far, what he told me was true, and I am happy I listened to him. (And, the times I have not listened to him did not always go as well.) The TT Net data has really been flawless, for my purposes. And there have been so many that were not.

Now, Rithmic was also flawless for me, but if I cannot tell the difference between the two (and I can't), I choose the less expensive. I was really amazed looking at years of transactions and seeing what my commission cost was. Trading is tough, and 20% is huge in cost reduction. You have to pay win or lose, and so many times the P&L without including commissions is very misleading.

To me, there was nothing given up in performance, but the cost savings adds up every day.

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  #277 (permalink)
 cogito 
Washington DC
 
Experience: Intermediate
Platform: InvestorRT
Broker: TD Ameritrade, AMP/CQG
Trading: ES
 
Posts: 206 since Aug 2014
Thanks: 74 given, 269 received

FWIW, AMP Futures has settled the case with NFA paying a penalty of $25,000 for compliance violations. Checked five other brokers on NFA website, four of them had violations. two paid $200,00 in penalty and one paid $90,000. Going by the amount of penalty, AMP violations don't seem to be that serious.

Reading this thread gave me the impression for some people are expecting 5-star customer service from a deep-discount broker. Lets face it, some of the people opened accounts with AMP because of the deep-discount structure and low initial capital needed to open the account. If someone is looking for a 5-star customer service, they should choose a big broker who charge higher commissions.

BTW, I am neither supporting nor condemning AMP. Sure, they had some procedural violations and they paid the penalty. Hopefully, those violations do not occur in the future.

Having said that, as there are no more disagreements at this time, I would appreciate if Big Mike lifts the ban on AMP.

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  #278 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
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...and, banned or not banned is not my agenda. I am not supporting AMP necessarily, I am offering my view of the service they provide, without really having looked into the why of that whole banned thing. There may be some valid issues.

There are many banks I could explain why I don't like LOL! But, we all keep moving.

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  #279 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
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@cogito I'm not lifting a ban for a company that sued me (and lost). You are out of your mind.

But all the info is on futures.io (formerly BMT) for all to see, including why they were banned as it happened in real time.

You'll also find plenty of info in the lawsuit documents, all of which I made public to demonstrate the tactics that they take in their business. If it didn't cost 20k to defend, it would be comedy gold.

In my opinion, anyone that does business with them deserves whatever they get for being so unbelievably naive.

In my opinion, AMP is to be avoided at all costs.

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


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  #280 (permalink)
 cogito 
Washington DC
 
Experience: Intermediate
Platform: InvestorRT
Broker: TD Ameritrade, AMP/CQG
Trading: ES
 
Posts: 206 since Aug 2014
Thanks: 74 given, 269 received

It was just a suggestion.
Obviously, your decision is final.

Just that you know where I am coming from, I had a terrible experience with one high-priced broker (not going to rant about it). The offenses listed in this thread pale by comparison.

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  #281 (permalink)
 steve2222 
Auckland, New Zealand
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP/CQG
Trading: Whatever moves in my timezone
 
Posts: 1,888 since Sep 2009
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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)
 cogito 
Washington DC
 
Experience: Intermediate
Platform: InvestorRT
Broker: TD Ameritrade, AMP/CQG
Trading: ES
 
Posts: 206 since Aug 2014
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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)
 mattz   is a Vendor
 
 
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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.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
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  #284 (permalink)
 Delawer 
LEON / SPAIN
 
Experience: Intermediate
Platform: Ninjatrader, Bookmap
Broker: TT/Amp, IQFEED
Trading: Stocks, FUTURES
 
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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)
 mattz   is a Vendor
 
 
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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.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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  #286 (permalink)
 Delawer 
LEON / SPAIN
 
Experience: Intermediate
Platform: Ninjatrader, Bookmap
Broker: TT/Amp, IQFEED
Trading: 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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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.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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  #288 (permalink)
 cogito 
Washington DC
 
Experience: Intermediate
Platform: InvestorRT
Broker: TD Ameritrade, AMP/CQG
Trading: ES
 
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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)
 Delawer 
LEON / SPAIN
 
Experience: Intermediate
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Trading: Stocks, FUTURES
 
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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.

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  #290 (permalink)
 cogito 
Washington DC
 
Experience: Intermediate
Platform: InvestorRT
Broker: TD Ameritrade, AMP/CQG
Trading: ES
 
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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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  #291 (permalink)
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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.

You wrote "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?"

This gave the impression that the broker had something to do with your losses. In reality you were under capitalized, and could not withstand the leverage associated with futures.

Matt
Optimus Futures

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

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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 empty 
Louisville, Kentucky
 
Experience: Intermediate
Platform: Sierra Chart, TastyTrade
Broker: Various
Trading: Futures, Options
 
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Delawer View Post
Yes, I had no enough capital in the account (I begun with 500-1000e)

That's simply not enough capital to trade Futures. You should consider something like Forex where you can scale back your risk whilst learning. With Forex you can risk very small amounts per price movement. This affords you the opportunity to have real risk / money on the trade and figure out your trading plan, but will not take you out of the game while learning.

I really enjoy Futures and I think a centralized exchange has a lot of benefits, but with that amount of capital you need to consider lower risk options when you're learning.

Empty

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 Delawer 
LEON / SPAIN
 
Experience: Intermediate
Platform: Ninjatrader, Bookmap
Broker: TT/Amp, IQFEED
Trading: Stocks, FUTURES
 
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empty View Post
That's simply not enough capital to trade Futures. You should consider something like Forex where you can scale back your risk whilst learning. With Forex you can risk very small amounts per price movement. This affords you the opportunity to have real risk / money on the trade and figure out your trading plan, but will not take you out of the game while learning.

I really enjoy Futures and I think a centralized exchange has a lot of benefits, but with that amount of capital you need to consider lower risk options when you're learning.

Empty

Men, but I did a huge research and in forex the price moves to the losers side XD. Someone have to loose a lot to that i can a little XD.

About you say in stop loss, do you really think im going to buy something and announce sell it cheaper? WTF.

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 cogito 
Washington DC
 
Experience: Intermediate
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Broker: TD Ameritrade, AMP/CQG
Trading: ES
 
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mattz View Post
You wrote "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?"

This gave the impression that the broker had something to do with your losses. In reality you were under capitalized, and could not withstand the leverage associated with futures.

Exactly. This is what I was trying to clarify with the original poster.

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 torroray 
Malaysia
 
Experience: Beginner
Platform: Multichart DT
Broker: MB Trading
Trading: Fx
 
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GaryD View Post
They will send you a commission quote if you request it, you pick your instrument, platform and data feed, and can compare them. There is a link you will receive. and you can try all kinds of pricing options. The TT Net feed was the least expensive for me using Sierra. About 20%v lower than what I have been paying, and seriously no difference in quality.

I use 2 and 3 tick charts for microscopic views, and 1 minute for volume. I ran one , then the other (Rithmic), back to back, side by side. TT Net is pure seamless.

Now, I have seen variances in calculation of things, like VPOC between data feeds, and in that regard there did seem to be difference between almost all data providers. Price moves up and down, trade accordingly.

A data feed that keeps up with real time, zero lag, never goes out... That is what TT Net has been since day one, and every day after. And costs the least of any other combination (+ Sierra) that I have ever tried.

Hi GaryD,

Rare review on TT. Maybe most members here use Rithmic. I appreciate the experience you share. Your chart setup are more or less like mine.



Thanks

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 torroray 
Malaysia
 
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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.

Hi Steve,

Can you use some other free platform to manage your trade if anything bad happen?

Thanks

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  #297 (permalink)
 steve2222 
Auckland, New Zealand
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP/CQG
Trading: Whatever moves in my timezone
 
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torroray View Post
Hi Steve,

Can you use some other free platform to manage your trade if anything bad happen?

Thanks

@torroray

No. You couldn't use a paltform that was being feed with CQG or Rithmic (for instance) if your original trades were placed at the exchange via TTnet.

The only option is the one @mattz suggests in post #283. I have not had a chance to talk to AMP to see if I had X-Trader (a TT platform) could I use it to manage trades routed through TTnet off my SC platform without paying excessive fees for having X-Trader just for disaster recovery.

Clearly, from post 283, Matt is saying he could run this setup for you at Optimus using SC as your primiary platform and TT's platform (X-Trader, I think) as a back up for no additional cost.

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steve2222 View Post
@torroray

No. You couldn't use a paltform that was being feed with CQG or Rithmic (for instance) if your original trades were placed at the exchange via TTnet.

The only option is the one @mattz suggests in post #283. I have not had a chance to talk to AMP to see if I had X-Trader (a TT platform) could I use it to manage trades routed through TTnet off my SC platform without paying excessive fees for having X-Trader just for disaster recovery.

Clearly, from post 283, Matt is saying he could run this setup for you at Optimus using SC as your primiary platform and TT's platform (X-Trader, I think) as a back up for no additional cost.

@steve2222 to call TT fees "excessive" when you use it only for back up, is a bit of a gross exaggeration.
If you need to liquidate the last thing you need to do is think about an extra $1 RT while you have highly leveraged positions. Consider that TT is usually $700 to $1,500 with many FCMs, so an added dollar even for trading for such a caliber platform is reasonable. Also, if you were to call in any of the big wire houses may charge in access for $20 for call ins to flatten.

However, another thing comes to mind is the fact that through TT (to the best of my knowledge) you can set multiple logins credentials so long they are over the same IP. Namely, you can have SC and MC with the same TT credentials, and that way you pay less in execution if one platform malfunctions.

Clearly, one has to learn how to use any platform that he/she uses for back to avoid learning curves during what could be stressful moments

Thanks,
Matt
Optimus Futures

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

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
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  #299 (permalink)
 steve2222 
Auckland, New Zealand
 
Experience: Beginner
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Broker: AMP/CQG
Trading: Whatever moves in my timezone
 
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mattz View Post
@steve2222 to call TT fees "excessive" when you use it only for back up, is a bit of a gross exaggeration.
If you need to liquidate the last thing you need to do is think about an extra $1 RT while you have highly leveraged positions. Consider that TT is usually $700 to $1,500 with many FCMs, so an added dollar even for trading for such a caliber platform is reasonable. Also, if you were to call in any of the big wire houses may charge in access for $20 for call ins to flatten.

However, another thing comes to mind is the fact that through TT (to the best of my knowledge) you can set multiple logins credentials so long they are over the same IP. Namely, you can have SC and MC with the same TT credentials, and that way you pay less in execution if one platform malfunctions.

Clearly, one has to learn how to use any platform that he/she uses for back to avoid learning curves during what could be stressful moments

Thanks,
Matt
Optimus Futures

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

@mattz,

You have interpreted my reply incorrectly - I was not saying TT's fees were excessive as a back up option.

I was trying to say that the TT back up option would be fine as long as you were not paying TT's usual costs for the platform (as well as for the primary trading platform - SC). So my intention was for the poster to check there would be no large monthly fee from TT (like to $700 to $1500 you refer to).

You reply seems to suggest that TT as a back up would only costs a R/T fee if used and obviously no one is going to have a problem with that.

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steve2222 View Post
@mattz,

You have interpreted my reply incorrectly - I was not saying TT's fees were excessive as a back up option.

I was trying to say that the TT back up option would be fine as long as you were not paying TT's usual costs for the platform (as well as for the primary tradisung platform - SC). So my intention was for the poster to check there would be no large monthly fee from TT (like to $700 to $1500 you refer to).

You reply seems to suggest that TT as a back up would only costs a R/T fee if used and obviously no one is going to have a problem with that.

Understood. Since we were talking in the context of AMP/TT, I suggested that there is a pricing TT model only.
I understand that this may not be offered through everyone, so point well taken.

Thank you,
Matt
Optimus Futures

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

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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