NexusFi: Find Your Edge


Home Menu

 





AMP Futures / AMP Global Review


Discussion in Brokers

Updated
      Top Posters
    1. looks_one mattz with 41 posts (73 thanks)
    2. looks_two Scalpguy with 31 posts (26 thanks)
    3. looks_3 Big Mike with 25 posts (68 thanks)
    4. looks_4 steve2222 with 21 posts (29 thanks)
      Best Posters
    1. looks_one Big Mike with 2.7 thanks per post
    2. looks_two kalalex with 2.3 thanks per post
    3. looks_3 mattz with 1.8 thanks per post
    4. looks_4 steve2222 with 1.4 thanks per post
    1. trending_up 341,761 views
    2. thumb_up 844 thanks given
    3. group 163 followers
    1. forum 595 posts
    2. attach_file 44 attachments




 
Search this Thread

AMP Futures / AMP Global Review

  #511 (permalink)
 RT777 
Toronto Canada
 
Posts: 41 since May 2020

Now YOU see it, now YOU don't , bravo!

Did the IT guys get an email or just a wink and a nod to get rid of that pesky column?

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
Exit Strategy
NinjaTrader
Are there any eval firms that allow you to sink to your …
Traders Hideout
 
  #512 (permalink)
 slagzone 
round rock, tx
 
Experience: Beginner
Platform: ninjatrader
Trading: oil, gold, euro
Posts: 9 since May 2011
Thanks Given: 2
Thanks Received: 5

I started trading live on Friday, June 26, 2020, with AMP futures. On their commission portal calculator, I was supposed to be charged .78 per trade per contract all in for the MES. I was charged $2.75 per trade per contract, Overcharged $1.97 per contract per trade. I got my daily report Friday at 11:59 pm. The daily report that I received stated, at the bottom of the page, that if I have any issues with the daily report statement to contact them before the beginning of the next trading session. Not exercising my right to have issues corrected before the start of the next session will be deemed acceptance of the daily report. I contacted customer support on Sunday, June 28, 2020, at 16:45, the earliest the office was opened. I also sent multiple emails Saturday and Sunday to the commissions clearing office.

I spoke to a customer service rep, he could not help me and advised me to reach out to the commission statement desk via email. I sent an email to the commission statement desk at 17:00 CST Jun 28, 2020. We will see how long it takes to get my money refunded.

Has anyone else had any issues like this and were they corrected and how long did it take?

Reply With Quote
Thanked by:
  #513 (permalink)
 
JonnyBoy's Avatar
 JonnyBoy 
Montreal, Quebec
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: Kinetick
Trading: ES
Posts: 1,561 since Apr 2012
Thanks Given: 706
Thanks Received: 3,854



slagzone View Post
I started trading live on Friday, June 26, 2020, with AMP futures. On their commission portal calculator, I was supposed to be charged .78 per trade per contract all in for the MES. I was charged $2.75 per trade per contract, Overcharged $1.97 per contract per trade. I got my daily report Friday at 11:59 pm. The daily report that I received stated, at the bottom of the page, that if I have any issues with the daily report statement to contact them before the beginning of the next trading session. Not exercising my right to have issues corrected before the start of the next session will be deemed acceptance of the daily report. I contacted customer support on Sunday, June 28, 2020, at 16:45, the earliest the office was opened. I also sent multiple emails Saturday and Sunday to the commissions clearing office.

I spoke to a customer service rep, he could not help me and advised me to reach out to the commission statement desk via email. I sent an email to the commission statement desk at 17:00 CST Jun 28, 2020. We will see how long it takes to get my money refunded.

Has anyone else had any issues like this and were they corrected and how long did it take?

From AMP? Really? Surely not?

Okay, I am being factious here. This doesn't surprise me at all. If there was one word to describe and sum up AMP it is this, casual. Professional they are not. Of course this isn't a mistake IMO, I have heard (no evidence) that they do this A LOT with new traders. They just hope that you won't question it.

Of course, that is way too much for the e-micro so you need to get that sorted. Your ALL IN total round turn should be around $1.00 per contract. Don't believe that commission portal calculator that AMP have for a second.

--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------
Reply With Quote
Thanked by:
  #514 (permalink)
 
Scalpguy's Avatar
 Scalpguy 
Helsinki, Finland
 
Experience: Advanced
Platform: SC and TWS
Broker: IB and AMP/CQG
Trading: ES, CL
Posts: 206 since Jul 2010
Thanks Given: 17
Thanks Received: 166


JonnyBoy View Post
From AMP? Really? Surely not?

Okay, I am being factious here. This doesn't surprise me at all. If there was one word to describe and sum up AMP it is this, casual. Professional they are not. Of course this isn't a mistake IMO, I have heard (no evidence) that they do this A LOT with new traders. They just hope that you won't question it.

Of course, that is way too much for the e-micro so you need to get that sorted. Your ALL IN total round turn should be around $1.00 per contract. Don't believe that commission portal calculator that AMP have for a second.

For me the calculator works just fine showing exactly the right amount.

There is something about 10 000 customers around the world with AMP so if this would be a common practice why is it so hard to find people complaining it ?

It takes nothing to be a Pig
Reply With Quote
Thanked by:
  #515 (permalink)
arielalejandro
Córdoba
 
Posts: 27 since Apr 2020
Thanks Given: 20
Thanks Received: 28

Thanks for posting this! I just opened an account with them and this week I will be funding it. So after my first trade I'll mention this issue so then I don't have a surprise like you.
Good luck and let us know if they solved it.
slagzone View Post
I started trading live on Friday, June 26, 2020, with AMP futures. On their commission portal calculator, I was supposed to be charged .78 per trade per contract all in for the MES. I was charged $2.75 per trade per contract, Overcharged $1.97 per contract per trade. I got my daily report Friday at 11:59 pm. The daily report that I received stated, at the bottom of the page, that if I have any issues with the daily report statement to contact them before the beginning of the next trading session. Not exercising my right to have issues corrected before the start of the next session will be deemed acceptance of the daily report. I contacted customer support on Sunday, June 28, 2020, at 16:45, the earliest the office was opened. I also sent multiple emails Saturday and Sunday to the commissions clearing office.

I spoke to a customer service rep, he could not help me and advised me to reach out to the commission statement desk via email. I sent an email to the commission statement desk at 17:00 CST Jun 28, 2020. We will see how long it takes to get my money refunded.

Has anyone else had any issues like this and were they corrected and how long did it take?

Sent using the NexusFi mobile app

Reply With Quote
  #516 (permalink)
 slagzone 
round rock, tx
 
Experience: Beginner
Platform: ninjatrader
Trading: oil, gold, euro
Posts: 9 since May 2011
Thanks Given: 2
Thanks Received: 5


Scalpguy View Post
For me the calculator works just fine showing exactly the right amount.

There is something about 10 000 customers around the world with AMP so if this would be a common practice why is it so hard to find people complaining it ?

It's not the commission calculator, that works fine. It's the daily report you get after you are done trading. The commission calculator quoted me .78 per trade per contract for MES and on my daily report I was charged $2.75 per trade per contract.

Reply With Quote
Thanked by:
  #517 (permalink)
 slagzone 
round rock, tx
 
Experience: Beginner
Platform: ninjatrader
Trading: oil, gold, euro
Posts: 9 since May 2011
Thanks Given: 2
Thanks Received: 5


arielalejandro View Post
Thanks for posting this! I just opened an account with them and this week I will be funding it. So after my first trade I'll mention this issue so then I don't have a surprise like you.
Good luck and let us know if they solved it.

Sent using the NexusFi mobile app

Really check that daily report you get at end of the day.

Reply With Quote
Thanked by:
  #518 (permalink)
 
JonnyBoy's Avatar
 JonnyBoy 
Montreal, Quebec
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: Kinetick
Trading: ES
Posts: 1,561 since Apr 2012
Thanks Given: 706
Thanks Received: 3,854


Scalpguy View Post
For me the calculator works just fine showing exactly the right amount.

There is something about 10 000 customers around the world with AMP so if this would be a common practice why is it so hard to find people complaining it ?

10k customers world wide? Source of that "something" please.

Sent using the NexusFi mobile app

--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------
Reply With Quote
  #519 (permalink)
 Dasani 
United States of America
 
Experience: Advanced
Platform: NinjaTrader
Broker: NinjaTrader
Trading: ES
Posts: 92 since Dec 2009
Thanks Given: 35
Thanks Received: 40


JonnyBoy View Post
10k customers world wide? Source of that "something" please.

Sent using the NexusFi mobile app


I could be wrong, but I remember AMP as only having about 144 accounts which seems really low of course.

Reply With Quote
  #520 (permalink)
 
josh's Avatar
 josh 
Georgia, US
Legendary Market Wizard
 
Experience: None
Platform: SC
Broker: Denali+Rithmic
Trading: ES, NQ, YM
Posts: 6,216 since Jan 2011
Thanks Given: 6,752
Thanks Received: 18,136



JonnyBoy View Post
Your ALL IN total round turn should be around $1.00 per contract.

To be explicit -- it depends on the data provider. The cost per R/T for flat-tier pricing is:

0.40 - Exchange
0.04 - NFA
0.10 - clearing
+ either: 0.20 for CQG, 0.50 for Rithmic, 0.60 for TT (+$50/month for TT)

So, on the flat tier it's either $0.74 for CQG, $1.04 for Rithmic, or $1.14 for TT. It's similar on the volume tier, depending on the volume of course, but for most traders here it will be 3-4 cents more per R/T. The point at which volume pricing becomes more advantageous is 8000 R/Ts.

The all-in cost calculator in AMP's site works well except for JPY and HKD based contracts, as it doesn't do the math correctly, FWIW.

Reply With Quote




Last Updated on March 22, 2023


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts