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AMP Futures / AMP Global Review

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  #1 (permalink)
 kalalex 
Up the Ladder, CA
 
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This is solely based on my experience.

One word. They suck.

First they overcharged commission than what they agreed and it took more than 2 weeks to refund that $2.
It took too many phone calls and emails to get my $2 back.

Talking about phone calls. They proudly announced that they have dedicated trading desk line. Half the time I called the line
it just doesn't connect. I can't know if it's the problem with phone line itself or understaff problem.

Talking about understaff,,,I read here on futures.io (formerly BMT) that Dan, owner of AMP, talked down on Optimus of small staff. I don't know how he trains his staffs but it was never pleasant to talk to any of them. I don't know if they realize that they work in financial SERVICE industry. The way I see it those 3 or 4 employees at Optimus do way better job than how many they have at AMP.

Now this really pisses me off.
They started charging extra fee for CQG recently.
The contract I signed when I opened the account might give them the right to charge any extra they want without my consent but I think it's a common courtesy to at least notify customers.

So for me AMP's is -5 on 1 to 10 scale.

PS: Mike, if this posting is out of line of your forum policy you can delete, lock, or what ever you have to do to maintain your forum.

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kalalex View Post
Talking about understaff,,,I read here on futures.io (formerly BMT) that Dan, owner of AMP, talked down on Optimus of small staff. I don't know how he trains his staffs but it was never pleasant to talk to any of them. I don't know if they realize that they work in financial SERVICE industry. The way I see it those 3 or 4 employees at Optimus do way better job than how many they have at AMP.

The 3-4 employees that was made as a reference on the thread by my competitors was false. We are a staff of 6, and the employees of Optimus are truly (and I am proud to say) very customer oriented. As we have grown our client base and assets under management, I have made the strategic decision to hire people with specific expertise with the intention to help customers in areas of support(technology), development and administration. This approach has allowed me to maintain long term rapport with the existing clientele.

Matt from Optimus

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rafiqtrader View Post
I see on optimus web site they charge 30 cents per contract for rithmic on top of their commissions. My entire commissions at amp is cheaper than that...so I'd say amp is winning

rafiq
Amp customer

No we Don't! All commissions quoted are ALL IN Prices. I don't want to get into a "commission war" as technology, service and support may very between all brokerages. I am just asking you not be naive and realize that all technology feeds have a price, whether CQG or Rithmic (in our case)

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  #4 (permalink)
 Beljevina 
Toronto, Canada
 
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kalalex View Post
...
They started charging extra fee for CQG recently. ...

I too have not had the best of experiences, but that's the (very) unfortunate norm when deal with the vast majority of today's world of call centers and the disconnected & removed folks who work in them.

But, there is not really a CQG fee that has been instigated, other than this one:

CQG provides streaming "Cash" Index Data for the $SP500 FROM the CBOE exchange, which was previously charged by the exchange $2.00 per month. Starting, March. 1st, 2012 - the new price is $5.00 per month. This price change was initiated by the CBOE Exchange- not by AMP nor CQG. The actual cost of the Cash Index Data is passed directly to the customer.


Also, Zenfire instigated a $25/month data feed, for customers deemed inactive (<40 trades/month) and <$400 in the account. Not completely unreasonable IMHO. Amp did actually convert a whole whack of customers from Zenfire to CQG data, which for now has no such similar charges.

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 steve2222 
Auckland, New Zealand
 
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Beljevina View Post

Also, Zenfire instigated a $25/month data feed, for customers deemed inactive (<40 trades/month) and <$400 in the account. Not completely unreasonable IMHO. Amp did actually convert a whole whack of customers from Zenfire to CQG data, which for now has no such similar charges.

This is not true, at least in my case with ZF via Mirus.

I only have to do 5 RT (not 40) per month to avoid the $25 fee and yes, Micro contract trades count.

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rafiqtrader View Post
Hi Matt, on the optimus web site it says "order routing fee per side $0.30" under ninjatrader on the compare platforms page. it also list routing fee per side for all the platforms..so i can only believe this will be charged on top of commissions. my amp commissions is .25 cents per side - that is why i said my commissions is lower than the cost of rithmic with you. are you cheaper?

Rafiq, I understand where you come from, but like I said, we don't charge it on top but part of a quoted commissions.
We discuss commissions with customers individually while I assure you that we give good rates as many of my customers would testify. I assure you that your 25 cents per side is not including the routing (data feed) quote as you pay that as well. Please reach out to me during business to discuss...like I said, I don't want to fill this thread with "commissions wars"...
There are enough customers to each party where an all in rate could be quoted.

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 Big Mike 
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Mike

Mike, a reference was made on the first post of this thread to Optimus, so I responded and questions came.
I will not post here any more replies to keep the forum in order.

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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  #9 (permalink)
 kalalex 
Up the Ladder, CA
 
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Beljevina View Post
I too have not had the best of experiences, but that's the (very) unfortunate norm when deal with the vast majority of today's world of call centers and the disconnected & removed folks who work in them.

But, there is not really a CQG fee that has been instigated, other than this one:

CQG provides streaming "Cash" Index Data for the $SP500 FROM the CBOE exchange, which was previously charged by the exchange $2.00 per month. Starting, March. 1st, 2012 - the new price is $5.00 per month. This price change was initiated by the CBOE Exchange- not by AMP nor CQG. The actual cost of the Cash Index Data is passed directly to the customer.


Also, Zenfire instigated a $25/month data feed, for customers deemed inactive (<40 trades/month) and <$400 in the account. Not completely unreasonable IMHO. Amp did actually convert a whole whack of customers from Zenfire to CQG data, which for now has no such similar charges.

Beljevina,

If you didn't get hit with 20cents extra per round with a fee title of CQG TRF then lucky for you but then the guy I talked to at AMP lied to me again.
He said they've been taking up the cost but couldn't any more so began charging the fee from the 1st of March to all customers.
I also confirmed with an IB that clears through AMP. Their customers got hit with the fees and the brokers at the IB were furious because they didn't even get notified,,,,and had to do lots of explanations or make excuses to their customers.

Also for those zenfire to CQG converts,,,,a whole whack of them as you put :-),,,,that's whack of more $$$ for AMP if they can keep them and still charge $0.2 per round turn.


But my point with the thread is not about who's cheaper.
It was about principle, integrity, courtesy or maybe common sense.

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  #10 (permalink)
 Beljevina 
Toronto, Canada
 
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kalalex View Post
Beljevina,

If you didn't get hit with 20cents extra per round with a fee title of CQG TRF then lucky for you but then the guy I talked to at AMP lied to me again.
He said they've been taking up the cost but couldn't any more so began charging the fee from the 1st of March to all customers.
I also confirmed with an IB that clears through AMP. Their customers got hit with the fees and the brokers at the IB were furious because they didn't even get notified,,,,and had to do lots of explanations or make excuses to their customers.

Also for those zenfire to CQG converts,,,,a whole whack of them as you put :-),,,,that's whack of more $$$ for AMP if they can keep them and still charge $0.2 per round turn.


But my point with the thread is not about who's cheaper.
It was about principle, integrity, courtesy or maybe common sense.

You're right. I checked my statements, and it appears as of March that 20 cent fee is there. I didn't catch it, as it 1 fee in a list of 5, per RT. Kudos on proving the point that they've given no notification of this to anyone AFAIK. I do read what they e-mail me, and, there's been a slight improvement of stuff coming along intermittently, to give the impression that they are keeping me up to date on pricing changes. Obviously they do so selectively, which is pretty much in line with what (little & purposefully selectively I'd say) they choose to send out to their customers. +1 for obvious inconsistency on their part. I completely agree with your focus on principle, integrity, courtesy: unfortunately, that is sorely lacking everywhere I look these days - yes, it's extremely upsetting, but I channel my energies into being a better trader and hopefully making more in the process.

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 kalalex 
Up the Ladder, CA
 
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rafiqtrader View Post
hey guys, i had a chance to call dan today at AMP. he talked to me for 30 minutes. he agreed that there was a lot of questions coming in after the initiation of the zenfire $25 inactivity fee and the addition of all the new platforms that where just added this month.

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

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

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

rafiqtrader,

Thanks for inquiring this for us.
So the bottom line doesn't change is what Dan said?
It did for me by $0.20 per round turn.
I think I'll have to call them tomorrow,,,even though it's not a pleasant thing to do.

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TraderDownUnder
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Hi,


I can say this:

Originally I opened account with AMP because they were advertising 500$ minimum. I did not see another Ninja broker with this cheap level of minimal funding requirements. I funded and was allowed to trade micro instruments (true, not the most fun in the world, but what do you expect?). Eventually, after leaving a few positions overnight and luckily going in my favour most of the time, my account balance went up to 1100$ (took about 1 week). I asked my broker if I can be authorised to trade standard contracts at AMP now with this one account and he said no problem... about five minutes later he said he contacted trade desk and my account is ready to trade ES, 6A (not CL or GC because margins are higher for these oils and golds). This was convenient. I trade Australian Market and the more markets available, the better. AMP offers a lot more markets than I have noticed others do.

I did eventually fund more money to trade ASX instruments, which I like, but they have higher margin. After doing high volume, I asked my broker for lower commissions and he gave me small break, so I don't know about misc. fees, but I can say AMP's commissions are among the cheapest, if not the cheapest, of major Ninja brokers.

Overall, I am pleased with AMP/Ninja/CQG. My broker did tell me that ZenFire is also available, which I suppouse is another name of Rythmic (hard to tell, I have not used it yet), but I like mere fact that many major datafeeds are available for me to choose. I also like customer service of my broker, because he speaks Russian (my mother tongue) and most e-mails are answered within 30 min. Usually I can get answer within 5 min. via Skype, to. Do not know if this is secret or not, but my broker said AMP will have about a dozen new platforms soon, including my favourite-Market Delta. I asked him if it is only with ZenFire like always but he said "no, wait, soon it will be with CQG". Hope this comes soon because I like MD for the indicator patterns and this helps me trade.

So, again, this is my experience, so it might be different for others, but I can say I have not had a problem yet. My broker also told me about AMP's 20$ customer service guarantee, but I do not feel it concerns me because my experiences has been positive.


Regards,
Marat

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 slickiam 
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TraderDownUnder View Post
Hi,

Do not know if this is secret or not, but my broker said AMP will have about a dozen new platforms soon, including my favourite-Market Delta. I asked him if it is only with ZenFire like always but he said "no, wait, soon it will be with CQG". Hope this comes soon because I like MD for the indicator patterns and this helps me trade.

Regards,
Marat

hi, Marat

It is the secret, but a year ago

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

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


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 kalalex 
Up the Ladder, CA
 
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Ok.
I talked to Dan today.
Basically what they did is charge $.20 more in a form of technology fee but reduce their commission by $.20 so it evens out.
I can't say anything about this myself because I closed the account I had with AMP as broker.
I have another account with an IB that clears through AMP as an FCM and since it's the IB's business to set the commission amount AMP as a clearing house can't do anything.

So anyone who has an account w/ AMP as both broker and FCM he/she will have evened-out total commission.

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JuneBug
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Glad that Matt from Optimus was able to respond and set the record straight

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

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

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

I think I'm done with this shop.

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 Beljevina 
Toronto, Canada
 
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FWIW I did not have a CQG outage today; I did along with everyone it seems, yesterday around 3pm NY afternoon.

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 traderTX 
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I just signed up for a live account with AMP, have not and may not fund it, since, every time i have called and spoke to someone they sound fuzzy muffled over the phone. it has been that way with every call i placed to AMP and it doesnt happen on other calls i make.. I talked to a rep at Mirus and he was very clear sounding. I think AMP had better buy some better phone equipment..
Does any one else notice Amp's phone system to be fuzzy and muffled??? i have difficult time understanding what the people are saying, i have to decipher the sounds thru the fuzz.
Initially, i chose AMP over Mirus because of the choice for cqg data or zenfire..

Has anyone else found their Phones to be Muffled and Fuzzy???

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

I just sent an email to close the account.

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

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

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

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

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

To clarify, CQG is a hosted solution and they themselves manage each hub of their global network. No matter what FCM you use or what front end (NinjaTrader, CQG Trader) it all connects to the same CQG global network.

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To clarify, CQG is a hosted solution and they themselves manage each hub of their global network. No matter what FCM you use or what front end (NinjaTrader, CQG Trader) it all connects to the same CQG global network.

@NinjaTrader apart from AMP, is there any other broker where I can connect to CQG?

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 Big Mike 
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mrphr View Post
@NinjaTrader apart from AMP, is there any other broker where I can connect to CQG?

I know Velocity Futures does. I am sure there are many others, but none that I am personally familiar with.

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Big Mike View Post
I know Velocity Futures does. I am sure there are many others, but none that I am personally familiar with.

Mike

@Big Mike

I have looked at Velocity before but I thought we can only use CQG Trader, it does not say anything about NT and CQG integration. So did you connect NT + CQG through Velocity before?

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mrphr View Post
@Big Mike

I have looked at Velocity before but I thought we can only use CQG Trader, it does not say anything about NT and CQG integration. So did you connect NT + CQG through Velocity before?

Sorry, I haven't tried Ninja. I will ask Velocity, but we should take that line of questioning to a new thread that is not about Amp.

Mike

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  #25 (permalink)
TraderDownUnder
Adelaide, Australia
 
 
Posts: 9 since Mar 2012
Thanks: 0 given, 14 received

Hi,


I had the same issues, but called my AMP representative… he told me to restart my computer and problem went away. I then later asked what this was and he told me it was a universal CQG issue, which seems to be true since I am in Australia.

All in all, it was relatively slow market and I was on demo anyways when this occurred.

Datafeeds, even the best ones, can lose connectivity from time to time. Of course, the rarer the better, but my AMP representative was quick to allay my fears and provide feedback. My outage lasted no more than 10 minutes.

Overall, I am still pleased with AMP despite this issue. The service from my broker is quick and receptive, commissions are low as I wrote before, and I am still trading my domestic market via a foreign (USA-based) broker, interestingly enough.


Regards,
Marat

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  #26 (permalink)
 energetic 
hk
 
Experience: Intermediate
Platform: NinjaTrader
 
Posts: 53 since Apr 2010
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would u pls telling us how low the commissions you are given to AMP?


TraderDownUnder View Post
Hi,


I had the same issues, but called my AMP representative… he told me to restart my computer and problem went away. I then later asked what this was and he told me it was a universal CQG issue, which seems to be true since I am in Australia.

All in all, it was relatively slow market and I was on demo anyways when this occurred.

Datafeeds, even the best ones, can lose connectivity from time to time. Of course, the rarer the better, but my AMP representative was quick to allay my fears and provide feedback. My outage lasted no more than 10 minutes.

Overall, I am still pleased with AMP despite this issue. The service from my broker is quick and receptive, commissions are low as I wrote before, and I am still trading my domestic market via a foreign (USA-based) broker, interestingly enough.


Regards,
Marat


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  #27 (permalink)
 NinjaTrader  NinjaTrader is an official Site Sponsor
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mrphr View Post
@ NinjaTrader apart from AMP, is there any other broker where I can connect to CQG?

NinjaTrader through CQG is exclusive to AMP and it's introducing broker network. It's not available at Velocity.

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  #28 (permalink)
 dakine 
Volcano, HI
 
Experience: None
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energetic View Post
would u pls telling us how low the commissions you are given to AMP?

My commissions for the 6e are $4.74 RT. I also got hit with routing fee but since I've been with them for a while Dan cleared it up and all is good. While I agree their CS can improve I never have a problem reaching anyone when I have an issue with a trade, and that is what is most important to me. The CQG feed is top notch. I give em a thumbs up!

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  #29 (permalink)
 kalalex 
Up the Ladder, CA
 
Experience: Beginner
Platform: SC
Broker: Optimus & AMP
Trading: ES
 
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My short experience as a futures trader so far.

I tried 4 brokers/3FCMs so far since I restarted trading futures after 15 years absence.

1. Tradestation: I chose it because it was the platform I used 15 years ago. I did a little research afterwards and found more reliable, easier to use platforms with more choices so I moved on.

2. Optimus/Vision: I was with them for about 5 months. During that time I didn't have one instance where I got disconnected during trading hours. My account dwindled to 60% threshold where I wanted to stop trading,,,and wanted to fresh start so I moved to AMP.

3. AMP: I only chose AMP because of their datafeed which is CQG and market breadth index. Commission rate was ok because I was paying almost the same to Optimus. I had the account for 2 weeks because of the reasons I posted earlier.

4. Global: They clear through AMP so I moved with them. Their commission rate was same till AMP began charging $0.20 CQG fee and guys and gals work their are very customer service oriented and their office was kind of local to me. I wanted to stay with these guys but I had more than 4 times where I got disconnected during trading since mid Feb. Global has 2 or 3 other FCMs but AMP(FCM) is only one that I can use Ninjatrader which I invested too much into already.

5. So,,,,,,I'm back to Optimus now.

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  #30 (permalink)
 mattz   is a Vendor
 
 
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kalalex View Post
So,,,,,,I'm back to Optimus now.

Welcome back and I wish you success.

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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  #31 (permalink)
 energetic 
hk
 
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why u back to Optimus ? Any advantage among other brokers ?

kalalex View Post
My short experience as a futures trader so far.

I tried 4 brokers/3FCMs so far since I restarted trading futures after 15 years absence.

1. Tradestation: I chose it because it was the platform I used 15 years ago. I did a little research afterwards and found more reliable, easier to use platforms with more choices so I moved on.

2. Optimus/Vision: I was with them for about 5 months. During that time I didn't have one instance where I got disconnected during trading hours. My account dwindled to 60% threshold where I wanted to stop trading,,,and wanted to fresh start so I moved to AMP.

3. AMP: I only chose AMP because of their datafeed which is CQG and market breadth index. Commission rate was ok because I was paying almost the same to Optimus. I had the account for 2 weeks because of the reasons I posted earlier.

4. Global: They clear through AMP so I moved with them. Their commission rate was same till AMP began charging $0.20 CQG fee and guys and gals work their are very customer service oriented and their office was kind of local to me. I wanted to stay with these guys but I had more than 4 times where I got disconnected during trading since mid Feb. Global has 2 or 3 other FCMs but AMP(FCM) is only one that I can use Ninjatrader which I invested too much into already.

5. So,,,,,,I'm back to Optimus now.


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  #32 (permalink)
 kalalex 
Up the Ladder, CA
 
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Broker: Optimus & AMP
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energetic View Post
why u back to Optimus ? Any advantage among other brokers ?

Short or long answer?

I'll make it short.

I don't want to make another mistake.
And leaving Optimus was a typical newbie reaction after losing such as changing platform, changing system, changing this & that instead of looking inward for solution and answer. I want to stay away as much as possible from newbie mentality. This is one of the reason.

Other reasons,,,commissions, datafeed, service, etc,,,,it's all here in the thread.

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  #33 (permalink)
paulg
NY
 
 
Posts: 90 since Sep 2009
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About AMP Futures communication channels:

Leaving apart a phone call, I used to be able to chat or contact brokers in quick manner; it's too inefficient to use emails.
Sometimes they are not replied, other times the replies are 'standard'.

Do they offer any Skype, MSN, Chat address....?

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  #34 (permalink)
 cory 
the coin hunter
virginia
 
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paulg View Post
About AMP Futures communication channels:

Leaving apart a phone call, I used to be able to chat or contact brokers in quick manner; it's too inefficient to use emails.
Sometimes they are not replied, other times the replies are 'standard'.

Do they offer any Skype, MSN, Chat address....?

Toll Free: 800.560.1640
or you can go to ampclearing.com home, tech support, call number to get 6 digits and use them to start a chat session.

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  #35 (permalink)
 DaxSkalpr 
Calgary, Canada
 
Experience: Advanced
Platform: NinjaTrader
Broker: IB, AMP/CQG
Trading: Futures
 
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I've been with AMP for a little while and don't find them to be any better or worse than any other brokers I've been with in the past. The customer service could definitely improve but overall they handle my questions and concerns on the few occasions I've had to call or e-mail. Transferring funds to and from my accounts is usually completed with 24 hours by wire.

Commissions and order fills are good. CQG & NT work flawlessly together.

my 2c

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  #36 (permalink)
 plm66 
Paris 11(france)
 
Experience: Beginner
Platform: X_Trader, sierra chart, ninja
Broker: Velocity before ilq before advantage futures, amp, ntbrokerage
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  #37 (permalink)
 traderjcf 
Amherst, New York
 
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DaxSkalpr View Post
I've been with AMP for a little while and don't find them to be any better or worse than any other brokers I've been with in the past. The customer service could definitely improve but overall they handle my questions and concerns on the few occasions I've had to call or e-mail. Transferring funds to and from my accounts is usually completed with 24 hours by wire.

Commissions and order fills are good. CQG & NT work flawlessly together.

my 2c


I have had no problems with AMP and Dan has gotten back to me quickly when I had a question...

My only problem so far is when I go into cowboy mode trading 6E in the middle of the night and I "wake up" the next morning with major draw down

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  #38 (permalink)
 Koepisch 
@ Germany
 
Experience: Beginner
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I've contacted AMP to get commission quotes or similar (i don't know anymore) and since then i got annoying spam mails from AMP regarding several trading topics. And of course without any "unsubscribe" link. I thought that this is prohibited by law.

Due to that, i would NEVER join AMP as a customer.

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  #39 (permalink)
 treydog999 
seoul, Korea
 
Experience: Intermediate
Platform: Multicharts
Broker: CQG, DTN IQfeed
Trading: YM 6E
 
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I have been a customer at AMP for almost 2 years now. I did get the matched commissions quote so thats a good thing. Their service blows the big one. Ok so in their client portal if you want the low intraday margins, you have to set your chart provider and subscription. however THEY PURCHASE IT FOR YOU. No its not telling them what you want, its buying it. Took me 2 weeks to get that refund for multicharts lifetime license, which I already have. Ok, now the low intraday margin also increased my commissions by 300%, yes you heard me, i was paying near 9$ a round turn on M6E. No refund there. Now I am getting CQG data outages on sundays, even when I leave my computer on to catch all the real time data. If i reload a chart, it all disappears. So I am having some major issues.

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  #40 (permalink)
paulg
NY
 
 
Posts: 90 since Sep 2009
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treydog999 View Post
I have been a customer at AMP for almost 2 years now. I did get the matched commissions quote so thats a good thing. Their service blows the big one. Ok so in their client portal if you want the low intraday margins, you have to set your chart provider and subscription. however THEY PURCHASE IT FOR YOU. No its not telling them what you want, its buying it. Took me 2 weeks to get that refund for multicharts lifetime license, which I already have. Ok, now the low intraday margin also increased my commissions by 300%, yes you heard me, i was paying near 9$ a round turn on M6E. No refund there. Now I am getting CQG data outages on sundays, even when I leave my computer on to catch all the real time data. If i reload a chart, it all disappears. So I am having some major issues.


Simply ask them to rectify the commissions / margins. Also account size can make a difference in your options to get better commissions, according to the AMP Cost Calculator
Also note that most of the broker feeds has maintenance period and it' could be on Sundays.
About losing historical data, this depends which data you are talking about: if they are realtime indicators calculated on historical bid/ask then it depends on software and backfill datafeed. CQG feed provided by AMP could not be the best solution in order to obtain that kind of service.
If, instead, the issue is about Multicharts, then it's better if you contact that TSSupport. Also you may need to update the latest CQG MAPI module (ask for the specific procedure for the update).
Hope this helps.

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  #41 (permalink)
 treydog999 
seoul, Korea
 
Experience: Intermediate
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Broker: CQG, DTN IQfeed
Trading: YM 6E
 
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paulg View Post
Simply ask them to rectify the commissions / margins. Also account size can make a difference in your options to get better commissions, according to the AMP Cost Calculator
Also note that most of the broker feeds has maintenance period and it' could be on Sundays.
About losing historical data, this depends which data you are talking about: if they are realtime indicators calculated on historical bid/ask then it depends on software and backfill datafeed. CQG feed provided by AMP could not be the best solution in order to obtain that kind of service.
If, instead, the issue is about Multicharts, then it's better if you contact that TSSupport. Also you may need to update the latest CQG MAPI module (ask for the specific procedure for the update).
Hope this helps.

The problem with the data has been fixed. I asked them over the phone if i could get a refund on the commissions, in so many words they said no.

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  #42 (permalink)
 traderwerks 
Taipei Taiwan
 
Experience: Advanced
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Broker: AMP Clearing
Trading: TW
 
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paulg View Post
Simply ask them to rectify the commissions / margins. Also account size can make a difference in your options to get better commissions, according to the AMP Cost Calculator
Also note that most of the broker feeds has maintenance period and it' could be on Sundays.
About losing historical data, this depends which data you are talking about: if they are realtime indicators calculated on historical bid/ask then it depends on software and backfill datafeed. CQG feed provided by AMP could not be the best solution in order to obtain that kind of service.
If, instead, the issue is about Multicharts, then it's better if you contact that TSSupport. Also you may need to update the latest CQG MAPI module (ask for the specific procedure for the update).
Hope this helps.

Please notice that when their calculator says the Euro 6E is $4.44 R/T, they will add an extra $1 for 'clearing' that other brokers do not add so you will end up paying $5.55 R/T. Usually the CME clearing fee is about $0.06 which you also pay.

Math. A gateway drug to reality.
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  #43 (permalink)
 dakine 
Volcano, HI
 
Experience: None
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traderwerks View Post
Please notice that when their calculator says the Euro 6E is $4.44 R/T, they will add an extra $1 for 'clearing' that other brokers do not add so you will end up paying $5.55 R/T. Usually the CME clearing fee is about $0.06 which you also pay.

I pay $2.32 a side and I don't have that 1$ charge you speak of. Can you provide more info.

Thanks.

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  #44 (permalink)
 traderwerks 
Taipei Taiwan
 
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dakine View Post
I pay $2.32 a side and I don't have that 1$ charge you speak of. Can you provide more info.

Thanks.

You probably have a better deal than me

This is cut from my statement trading 2 R/T 6B




 
Code
Exchange    6.40
NFA         0.08
Clearing    2.00
CQF TRF     0.40
Commission  2.00
-----------------
          $10.88
$10.88 for 2 R/T so $5.44 per round trip.

The clearing fee is $0.50 per side so a round trip is $1.00.


And it was $5.44, not $5.55. My bad. Typo.

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  #45 (permalink)
 BWhite88 
Detroit, MI.
 
Experience: Intermediate
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I was wondering about the reliability of TICK data... (CQG - Ninja) I use it for entry and my TOS platform differs significantly. TOS seems to be more accurate for this purpose..

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  #46 (permalink)
 Big Mike 
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  #47 (permalink)
 notebookled 
vienna/vienna
 
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in the beginning i had some problems with AMP futures.
after a litte bit of raging and complaining, everything is fine now.

its all about communication. the guys from AMP are sometimes a little bit slow but i give them a 8 out of 10

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  #48 (permalink)
 notebookled 
vienna/vienna
 
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BWhite88 View Post
I was wondering about the reliability of TICK data... (CQG - Ninja) I use it for entry and my TOS platform differs significantly. TOS seems to be more accurate for this purpose..

CQG is a top datafeed... thats the reason why i choosed AMP (and about the cheap commisions).

i also use TOS, it hase the same accuracy as CQG. the problem with TOS is, that the plattform is sometimes delayed (becaus of that stupid javascript language).

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  #49 (permalink)
 snusnufreak 
Moscow Russia
 
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Does anyone know who clears AMP futures? They are not CME clearing member, so i wonder through whom they clear CME products?

Thanks!

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  #50 (permalink)
 Tasker_182 
Cedar Rapids, iowa
 
Experience: Intermediate
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Broker: Ninjatrader - Continuum
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snusnufreak View Post
Does anyone know who clears AMP futures? They are not CME clearing member, so i wonder through whom they clear CME products?

Thanks!

They are their own clearing merchant.

NinjaTrader | AMP Global Clearing (FCM)

"Money is better than poverty, if only for financial reasons." - Woody Allen
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  #51 (permalink)
 snusnufreak 
Moscow Russia
 
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Tasker_182 View Post
They are their own clearing merchant.

NinjaTrader | AMP Global Clearing (FCM)

I know that, but CME states clearly on their website that non-clearing members can't clear CME products. I asked my broker from AMP about this, he told me to contact compliance and said that they clear CME products through a third party withoud specifying their name. So I'm wondering if anyone aware of this?

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  #52 (permalink)
 slickiam 
Tomsk, Russia
 
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Tasker_182 View Post
They are their own clearing merchant.

NinjaTrader | AMP Global Clearing (FCM)

are you sure?

https://www.cmegroup.com/tools-information/clearing-firms.html

Scientia Libertas Prosperitas
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  #53 (permalink)
 Tasker_182 
Cedar Rapids, iowa
 
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I don't disagree with you about CME.

From AmpGlobal clearing's FAQ section: "AMP is proud to offer CME, CBOT, Nymex, Nybot, Eurex, and many others through our clearing relationships. Please contact us if you would like to trade additional markets on exchanges not listed above."

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  #54 (permalink)
 traderwerks 
Taipei Taiwan
 
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snusnufreak View Post
I know that, but CME states clearly on their website that non-clearing members can't clear CME products. I asked my broker from AMP about this, he told me to contact compliance and said that they clear CME products through a third party withoud specifying their name. So I'm wondering if anyone aware of this?

They are a non clearing FCM, so they have to clear with another FCM that clears with the CME

Math. A gateway drug to reality.
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  #55 (permalink)
 steve2222 
Auckland, New Zealand
 
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traderwerks View Post
They are a non clearing FCM, so they have to clear with another FCM that clears with the CME

So who are our funds held with? Eg with Mirus I know my funds are at Dorman. So if I went with AMP who would hold my funds (I too assumed it was AMP as I thought they were a clearing FCM).

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  #56 (permalink)
 traderwerks 
Taipei Taiwan
 
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steve2222 View Post
So who are our funds held with? Eg with Mirus I know my funds are at Dorman. So if I went with AMP who would hold my funds (I too assumed it was AMP as I thought they were a clearing FCM).

Non clearing FCM's still have seg and capital requirements.

Math. A gateway drug to reality.
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  #57 (permalink)
 jsengxx2 
Portugal, Viana do Castelo
 
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steve2222 View Post
So who are our funds held with? Eg with Mirus I know my funds are at Dorman. So if I went with AMP who would hold my funds (I too assumed it was AMP as I thought they were a clearing FCM).

JP Morgan

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  #58 (permalink)
 jsengxx2 
Portugal, Viana do Castelo
 
Experience: Intermediate
Platform: ninjatrader
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Posts: 343 since Sep 2011

Just a top 50 list of brokers 2013
Top 50 Brokers of 2013: Bruised and battered, but coming back strong

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  #59 (permalink)
 supermht 
Naperville IL
 
Experience: Intermediate
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I am wondering who believe those rankings....

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  #60 (permalink)
 westmalle 
Eindhoven The Netherlands
 
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@snusnufreak

AMP clears for their CQG customers through ABNAMRO. Check out ABNAMRO and you will see they are well established

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  #61 (permalink)
 fourtiwinks 
Singapore
 
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Strange that AMP does not clarify the question being raised.. After all, it's just for clarification, not promotion..

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  #62 (permalink)
 steve2222 
Auckland, New Zealand
 
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fourtiwinks View Post
Strange that AMP does not clarify the question being raised.. After all, it's just for clarification, not promotion..

I believe Big Mike banned AMP from this site ... so they can't reply. There are other threads that explain Big Mike's reasons.

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  #63 (permalink)
 Big Mike 
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steve2222 View Post
I believe Big Mike banned AMP from this site ... so they can't reply. There are other threads that explain Big Mike's reasons.

That is correct. They received multiple warnings prior to being banned letting them know they were violating forum policy.

Since that time, I am involved in legal action with Amp in order to defend posters rights on futures.io (formerly BMT), so you can be sure they are no longer welcome on futures.io (formerly BMT). However, I do encourage users to share their experiences about Amp on futures.io (formerly BMT). Unlike on other forums, those experiences will not be deleted so long as they are genuine and conform with our forum policy.

Mike

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  #64 (permalink)
 JustinIsHere 
Montreal, Canada
 
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I just checked the funding instructions and your funds go to JPMorgan. (see AMP GLobal Clearing -Funding Instructions)
With the fiasco they're involved in with the Madoff case, I don't trust putting money into a "Customer Segregated Funds" with them.

see JPMorgan, Madoff, And Why No One Dared Ask "The Cult" Any "Serious Questions As Long As The Performance Is Good" | Zero Hedge

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  #65 (permalink)
 FBJS 
Toronto
 
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JustinIsHere View Post
I just checked the funding instructions and your funds go to JPMorgan. (see AMP GLobal Clearing -Funding Instructions)
With the fiasco they're involved in with the Madoff case, I don't trust putting money into a "Customer Segregated Funds" with them.

see JPMorgan, Madoff, And Why No One Dared Ask "The Cult" Any "Serious Questions As Long As The Performance Is Good" | Zero Hedge

I wouldn't have a problem from the JP Morgan side of things, in terms safety or getting your money back. They are one of the well-connected "too big to fail" guys, along with Goldman - the government will never let them go down completely, but they will bleed them for fines as much as they can.

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  #66 (permalink)
 JustinIsHere 
Montreal, Canada
 
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FBJS View Post
I wouldn't have a problem from the JP Morgan side of things, in terms safety or getting your money back. They are one of the well-connected "too big to fail" guys, along with Goldman - the government will never let them go down completely, but they will bleed them for fines as much as they can.

Could you please provide proof that it is safe to get your money back when such event occur? Any timeframe would be a bonus too.

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  #67 (permalink)
 Big Mike 
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FBJS View Post
I wouldn't have a problem from the JP Morgan side of things, in terms safety or getting your money back. They are one of the well-connected "too big to fail" guys, along with Goldman - the government will never let them go down completely, but they will bleed them for fines as much as they can.

As an example, I believe PFG also stored money at JPM before PFG stole it all and robbed customers, see here:


So I don't think that JPM should carry a lot of weight as part of the decision on choosing an FCM.

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  #68 (permalink)
 FBJS 
Toronto
 
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JustinIsHere View Post
Could you please provide proof that it is safe to get your money back when such event occur? Any timeframe would be a bonus too.

What I mean is that if you are going to get screwed, it will be by the company who owns the account, like PFG or AMP or whomever. Losing money because JPM itself goes down is highly unlikely, given that the government won't let it happen. For proof, I direct you to 2008 and the financial crisis. Given how the situation has changed they will let more firms fail now (with bail-ins, and so on), but JPM probably isn't going to be one of them. Still, as far as I'm concerned they only true security is owning physical assets that you can get your hands on.

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  #69 (permalink)
 FBJS 
Toronto
 
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Big Mike View Post
As an example, I believe PFG also stored money at JPM before PFG stole it all and robbed customers, see here:


So I don't think that JPM should carry a lot of weight as part of the decision on choosing an FCM.

Mike

I agree... I guess the point is that JPM is not going to be the weak link here. You should really look at the FCM itself to determine what your risk level is...

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  #70 (permalink)
 JustinIsHere 
Montreal, Canada
 
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FBJS View Post
I agree... I guess the point is that JPM is not going to be the weak link here. You should really look at the FCM itself to determine what your risk level is...

If JPMorgan is not "the" or "a" weak link here. Care to enlighten me on how they got fined $1.7B in the Madoff case and are the target of a class action lawsuit ( Peregrine Financial Group Class Action | Lawsuit Against JPMorgan Chase & U.S. Bank Over PFG Customer Funds) in the PFG thievery that has lasted 2 decades?

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  #71 (permalink)
 Big Mike 
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I wish it were that easy to predict which FCM would fail next. But MFG and PFG have demonstrated that is not likely.

Instead what the industry needs is a form of insurance like FDIC or SIPC insurance that protects futures accounts. Until such time, the trader should just do as much due diligence as possible and it probably would be good advice to spread your funds over multiple FCM's to lessen the impact should any single firm collapse.

But that is going off-topic for this thread so let's try to return to topic of: AMP Trading review.

Mike

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  #72 (permalink)
 FBJS 
Toronto
 
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JustinIsHere View Post
If JPMorgan is not "the" or "a" weak link here. Care to enlighten me on how they got fined $1.7B in the Madoff case and are the target of a class action lawsuit ( Peregrine Financial Group Class Action | Lawsuit Against JPMorgan Chase & U.S. Bank Over PFG Customer Funds) in the PFG thievery that has lasted 2 decades?

I think you may have misinterpreted my comments. I never said that JP Morgan wasn't the target of lawsuits or inquiries... more so than any other bank, they are in fact in the government's crosshairs at the moment. However, the supposition that these lawsuits and government actions against the bank are somehow an indication that your personal funds could be at risk is not something that I agree with. JP Morgan has a lot of money set aside to deal with these things, is still turning large profits, and will not go anywhere close to being out of business as a result of these things. In any case, their buddies in the government would never let it happen, even if there was another crisis - they would get bailed out, you can count on it. There's a difference between being sued/investigated and being in serious danger of going out of business and losing all customer funds, and they are nowhere close to that for the reasons I mentioned. $1.7 Billlion is just a drop in the bucket for these guys... all of this is known information and the bank has set aside funds for it.

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  #73 (permalink)
 JustinIsHere 
Montreal, Canada
 
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FBJS, I fail to see why you keep bringing this idea that JPMorgan cannot go under. This is not a concern in any of my allegations.
What matters is how the funds you put into a broker can become mismanaged.

Here is why the bank paid the fine in the Madoff case:
The bank has agreed to pay the fine to settle pending charges that it ignored numerous warning signs about the largest financial fraud in U.S. history.

And as for the PFG lawsuit:
The lawsuit alleges that U.S. Bank, JPMorgan, and Wasendorf Jr. breached legal duties they owed to PFG’s customers by allowing PFG and Wasendorf Sr. to withdraw and use millions of dollars in customer funds for their own purposes.

The main concern is the probability that your funds vanish. Not the money the business you deal with.

All probabilities are but a possibility, this could also happen with other FCMs but what I am trying to bring forth is the idea that it might be less risky to go with a business that has no such precedent.

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  #74 (permalink)
 FBJS 
Toronto
 
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JustinIsHere View Post
All probabilities are but a possibility, this could also happen with other FCMs but what I am trying to bring forth is the idea that it might be less risky to go with a business that has no such precedent.

I think I understand your point now. You are saying that because of JPM's previous history of allowing shady behavior, they might not be as watchful if someone (like an FCM) is trying to steal your money. That's a fair point. You could also make the argument that because they have been targeted and fined for it, it is much less likely to happen again at that particular firm. It's possible that the risk is actually higher at another firm that hasn't been in the crosshairs as much in the recent past. In any case, I still wouldn't consider it a major risk point, in comparison to evaluating the actual FCM itself, although I could see how someone would consider it. My bottom line in any case is that I don't really trust anyone (JPM or anyone else), and always keep as little as possible in the trading account. That's the only way to really protect yourself, unfortunately.

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  #75 (permalink)
 JustinIsHere 
Montreal, Canada
 
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The Madoff case came to light in 2008. The PFG case, July 2012. Both are multi-decade frauds.

As long as the profits of fraud out-weight the fines, there is no reason to have faith that they will simply stop doing what they have been doing since no one in the JPM ranks are going to prison. They are in a no-risk proposition. A fine then simply becomes a cost of "doing business".

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  #76 (permalink)
 FBJS 
Toronto
 
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JustinIsHere View Post
The Madoff case came to light in 2008. The PFG case, July 2012. Both are multi-decade frauds.

As long as the profits of fraud out-weight the fines, there is no reason to have faith that they will simply stop doing what they have been doing since no one in the JPM ranks are going to prison.

I can't disagree that given their past history, it is a risk you might want to consider, I guess. The truth is that nowhere is really safe, unfortunately.... that's why I don't trust any firm.

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  #77 (permalink)
 Big Mike 
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Let's try to get back on topic. Use existing threads for MF Global and PFGbest stuff.

Sent from my LG Optimus G Pro

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  #78 (permalink)
 Tiger45 
San Diego, CA, USA
 
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Can any AMP users comment on their customer portal? Can you research historical trades, pull up old statements, get tax docs, etc?

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  #79 (permalink)
 Tasker_182 
Cedar Rapids, iowa
 
Experience: Intermediate
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Tiger45 View Post
Can any AMP users comment on their customer portal? Can you research historical trades, pull up old statements, get tax docs, etc?

Ahahahahaha... no. (this was for @cory)

Sorry for the humor. The client portal is pretty elemental giving you access to your basic account info and platform set-up. There are no statements. No historical trade info. In this regard Amp has not done well.

That said, every day I get an e-mail statement of trades and commissions, every month a monthly statement, every year a tax statement.

"Money is better than poverty, if only for financial reasons." - Woody Allen
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  #80 (permalink)
BlackSwan04
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Tasker_182 View Post
Ahahahahaha... no. (this was for @cory)

Sorry for the humor. The client portal is pretty elemental giving you access to your basic account info and platform set-up. There are no statements. No historical trade info. In this regard Amp has not done well.

That said, every day I get an e-mail statement of trades and commissions, every month a monthly statement, every year a tax statement.

+1 And it only works properly with IE. Firefox has serious issues with it. Haven't tried Chrome. fwiw

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  #81 (permalink)
 Tasker_182 
Cedar Rapids, iowa
 
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BlackSwan04 View Post
+1 And it only works properly with IE. Firefox has serious issues with it. Haven't tried Chrome. fwiw

The portal works with chome but says it wants Internet Exploder V7....

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  #82 (permalink)
paulg
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BlackSwan04 View Post
+1 And it only works properly with IE. Firefox has serious issues with it. Haven't tried Chrome. fwiw

AMP portal works with Opera browser, too. Never tested with Firefox.

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  #83 (permalink)
 resist 
Berlin Germany /Alicante Spain
 
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Tasker_182 View Post
Ahahahahaha... no. (this was for @cory)

Sorry for the humor. The client portal is pretty elemental giving you access to your basic account info and platform set-up. There are no statements. No historical trade info. In this regard Amp has not done well.

That said, every day I get an e-mail statement of trades and commissions, every month a monthly statement, every year a tax statement.

I am wondering that there are really no emailed statements from AMP - I am used from Crossland / RCG / Dorman to get a statement every night I made any trades the day before.
Could somebody else confirm that there come no statements?

@Tasker_182 - perhaps you give them a mail or call because they didnīt initialize to send out your statements or you donīt trade at all?

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  #84 (permalink)
 Tasker_182 
Cedar Rapids, iowa
 
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Tasker_182 View Post
Ahahahahaha... no. (this was for @cory)

Sorry for the humor. The client portal is pretty elemental giving you access to your basic account info and platform set-up. There are no statements. No historical trade info. In this regard Amp has not done well.

That said, every day I get an e-mail statement of trades and commissions, every month a monthly statement, every year a tax statement.


resist View Post
I am wondering that there are really no emailed statements from AMP - I am used from Crossland / RCG / Dorman to get a statement every night I made any trades the day before.
Could somebody else confirm that there come no statements?

@Tasker_182 - perhaps you give them a mail or call because they didnīt initialize to send out your statements or you donīt trade at all?

@resist You didn't read all of my post. In answer to the question about statements in the portal the answer was no. I did say, and it is true, I do get my trade statements e-mailed to me automatically every day and yes I do actually trade.

"Money is better than poverty, if only for financial reasons." - Woody Allen
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  #85 (permalink)
 resist 
Berlin Germany /Alicante Spain
 
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Tasker_182 View Post
@resist You didn't read all of my post. In answer to the question about statements in the portal the answer was no. I did say, and it is true, I do get my trade statements e-mailed to me automatically every day and yes I do actually trade.

sorry

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  #86 (permalink)
 Tasker_182 
Cedar Rapids, iowa
 
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So it was rightly recommended to bring the discussion of rate quotes to this thread. Here again is the rate calculator from Amps website:

AMP Cost Calculator

Now, you have to go through it carefully, making sure you observe the changes when you make selections.

For your understanding, I filled this out as I have it configured for me (CQG, Ninja Direct (free), Static SuperDom) and the prices are what they are listed. (See attached PDF) In my case I trade the TF and it is $4.22 R/T.
Hope this helps.

"Money is better than poverty, if only for financial reasons." - Woody Allen
Attached Thumbnails
AMP Futures / AMP Global Review-amp-cost-calculator-cqg.pdf  
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  #87 (permalink)
 tderrick 
Nashville, Tennessee
 
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resist View Post
I am wondering that there are really no emailed statements from AMP - I am used from Crossland / RCG / Dorman to get a statement every night I made any trades the day before.
Could somebody else confirm that there come no statements?

@Tasker_182 - perhaps you give them a mail or call because they didnīt initialize to send out your statements or you donīt trade at all?


Amp sends me daily , monthly and yearly statements


AJ
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  #88 (permalink)
 steve2222 
Auckland, New Zealand
 
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@switchtrading

This is from your post on the other thread:

"Hallo Ranger.

I have been with AMP for a awhile now and they are good guys.They set me up quick when I first funded(I used CQG with Ninja and never had problems).
Don't use Ninja anymore.
I also trade on another platform and use the Rithmic feed.
It's nice having a sub account and being able to use a second feed.
I use tt/net with x_trader and a Rithmic feed with another platform.

I have also been with DDT,Howard is a nice guy too.

Sometimes the broker isn't the one with the problem.
If your pleasant and do the right thing yourself,most times that is reciprocated.

Enjoy the weekend and remember that not to expect too much on Monday as there will be a few brokers who are under the hammer due to Zenfire data issues and customers looking for alternatives.

Rgds"

Just wanted to make sure I understood your comments about running two platforms and two data feeds with AMP.

You say they achieve this by creating a sub-account.

So do you have to fund them separately ie the sub account must have funds in it?

Can one go onto negative as long as both combined is positive?

Can you move funds between the sub accounts for no fee/cost?

Can you move funds between the sub accounts yourself via the on-line portal, or do you have to get AMP to do it? If so does it take them long?

Any other factors you think it would be worth us knowing about this scenario?

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  #89 (permalink)
 steve2222 
Auckland, New Zealand
 
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Tasker_182 View Post
So it was rightly recommended to bring the discussion of rate quotes to this thread. Here again is the rate calculator from Amps website:

AMP Cost Calculator

Now, you have to go through it carefully, making sure you observe the changes when you make selections.

For your understanding, I filled this out as I have it configured for me (CQG, Ninja Direct (free), Static SuperDom) and the prices are what they are listed. (See attached PDF) In my case I trade the TF and it is $4.22 R/T.
Hope this helps.

Has anyone else noticed that there is no mention (URL link) of this calculator on either AMPFutures or AMPClearing web sites.

Unless I am blind.

The only pages about Commissions ask you to fill out a form to get a quote!

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  #90 (permalink)
 switchtrading 
Netherlands
 
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Hallo Steve.

You fund an account,let's say 50k.
They give you an account number ex. 54321
You choose platform to trade on and go with Ninja cqg
You then contact AMP and let then know you want to trade another account.
They will then open a sub account ex. 54321A
With this sub account,which has been funded from an internal transfer of your acc 54321,they will then set you up with a platform and data for this account.Lets say x_trader tt/net.
54321. 30,000.00. Ninja CQG
54321A. 20,000.00. X_trader tt/net

You now have two accounts internally at AMP and two separate platforms and data feed.
It's nice when one goes down,you still have a back up.

Hope this helps.
Rgds

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  #91 (permalink)
ranger64
Bangkok, Thailand
 
 
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this is what they told me last week:


you can only have one feed per live account, but multiple account connections with that feed. for a second feed you need a funded second account or sub account.

you can get multiple cqg connections connecting at the same time. additional cost per connection 10 usd per month. (for example cqg/ninjatrader and cqg webtrader or cqg/sierrachart)

additional acct. connection fees only for cqg. rithmic allow you to connect on multiple platforms without extra fee.

ttnet only allows one acct. connection per acct. for an additional tt platform you need a second or sub account.




the really interesting question here is, how do they calculate risk, if you have a sub account with a second feed as backup. will they automatically flatten the side thats running a loss after the critical loss percentage is reached, or do they factor in that your overall position is neutral or positive?

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  #92 (permalink)
 trendwaves 
Market Wizard
Florida
 
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Tasker_182 View Post
So it was rightly recommended to bring the discussion of rate quotes to this thread. Here again is the rate calculator from Amps website:

AMP Cost Calculator

Now, you have to go through it carefully, making sure you observe the changes when you make selections.

For your understanding, I filled this out as I have it configured for me (CQG, Ninja Direct (free), Static SuperDom) and the prices are what they are listed. (See attached PDF) In my case I trade the TF and it is $4.22 R/T.
Hope this helps.

Be careful with that cost calculator for Rithmic at AMP. The calculator is not including the 0.25 cent/side Rithmic data fee. So for Rithmic you will need to add in 0.25 cent to the quote generated by the calculator. The data fee for CQG is 0.10 cent/side, so using CQG you save 30 cents per RT over Rithmic with Amp.

For comparison:

AMP using Rithimic / Ninja Direct for ES, NQ, TF = 1.91 / side + 0.25 / side (data fee) = 4.32 / RT

AMP using Rithimic / Ninja Direct for ES, NQ, TF, YM = 1.91 / side (routing fee waived) = $ 3.84 / RT <--- corrected per subsequent clarification in postings below.

AMP using CQG / Ninja Direct for ES, NQ, TF, YM = 1.91 / side + 0.10 / side (routing fee) = $ 4.04 / RT

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  #93 (permalink)
ranger64
Bangkok, Thailand
 
 
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trendwaves View Post
Be careful with that cost calculator for Rithmic at AMP. The calculator is not including the 0.25 cent/side Rithmic data fee. So for Rithmic you will need to add in 0.25 cent to the quote generated by the calculator. The data fee for CQG is 0.10 cent/side, so using CQG you save 30 cents per RT over Rithmic with Amp.

For comparison:

AMP using Rithimic / Ninja Direct for ES, NQ, TF = 1.91 / side + 0.25 / side (data fee) = 4.32 / RT

AMP using CQG / Ninja Direct for ES, NQ, TF = 1.91 / side + 0.10 / side (routing fee) = 4.02 / RT



the way i read it the 25 cents are included. fee for volume-tiered account < 1000 comtracts: 1.66 + 0.25 rithmic fee = 1.91 (for ym)

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  #94 (permalink)
 Bogan 
Australia
 
 
Posts: 48 since Feb 2011


steve2222 View Post
Has anyone else noticed that there is no mention (URL link) of this calculator on either AMPFutures or AMPClearing web sites.

Unless I am blind.

The only pages about Commissions ask you to fill out a form to get a quote!

I was about to post the same observation.
And they didn't give me this link when I inquired about commissions by email.


trendwaves View Post
Be careful with that cost calculator for Rithmic at AMP. The calculator is not including the 0.25 cent/side Rithmic data fee. So for Rithmic you will need to add in 0.25 cent to the quote generated by the calculator. The data fee for CQG is 0.10 cent/side, so using CQG you save 30 cents per RT over Rithmic with Amp.

For comparison:

AMP using Rithimic / Ninja Direct for ES, NQ, TF = 1.91 / side + 0.25 / side (data fee) = 4.32 / RT

AMP using CQG / Ninja Direct for ES, NQ, TF = 1.91 / side + 0.10 / side (routing fee) = 4.02 / RT

This is what I was quoted for ES by email:
NT CQG: $3.84 + $0.20 CQG TRF = $4.04 r/t
NT Rithmic: $3.34 + $0.50 Rithmic TRF = $3.84 r/t
NT TT: $3.54 r/t
Static DOM is included on TT and cannot be excluded. For CQG and Rithmic static DOM is extra $0.20 r/t.

This is consistently 2 cents more per r/t than what the calc says (for volume tiered <1,000 Contracts), but looks like it does account for Rithmic routing fee.

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  #95 (permalink)
 steve2222 
Auckland, New Zealand
 
Experience: Beginner
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Bogan View Post
I was about to post the same observation.
And they didn't give me this link when I inquired about commissions by email.


This is what I was quoted for ES by email:
NT CQG: $3.84 + $0.20 CQG TRF = $4.04 r/t
NT Rithmic: $3.34 + $0.50 Rithmic TRF = $3.84 r/t
NT TT: $3.54 r/t
Static DOM is included on TT and cannot be excluded. For CQG and Rithmic static DOM is extra $0.20 r/t.

This is consistently 2 cents more per r/t than what the calc says (for volume tiered <1,000 Contracts), but looks like it does account for Rithmic routing fee.

@tderrick

Now that you are a wizard again, and trade with AMP, you would be able to confirm this given there seems to be some confusion between the AMP calculator and what traders are actually being charged.

If you take your own situation trading NQ are you being charged all up fees consistent with what the AMP calculator would suggest you should be?

Your wise words and confirmation might help settle concerns for those looking to move to AMP.

Cheers.

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  #96 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
 
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steve2222 View Post
@tderrick

Now that you are a wizard again, and trade with AMP, you would be able to confirm this given there seems to be some confusion between the AMP calculator and what traders are actually being charged.

If you take your own situation trading NQ are you being charged all up fees consistent with what the AMP calculator would suggest you should be?

Your wise words and confirmation might help settle concerns for those looking to move to AMP.

Cheers.

You guys are trying to find absolutes in these rates. They have a form you can fill out when you set
up an account that will let you negotiate your own. As long as they are in line, they will go with you.

I simply said I wanted the high volume rate and it was given. All these numbers being tossed around are
giving me a headache.

These are probably new figures that have popped up after I was signed up, as I've been with them
for years.

Have you tried calling anyone down there?

PM me if you want a get to someone on the inside.

Wheel and deal, baby... Think like a wolf in wall street


AJ
Nashville, Tennessee


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  #97 (permalink)
 Joseph Connors 
Colorado Springs, CO USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Amp Futures. CQG
Trading: Futures
 
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tderrick View Post
You guys are trying to find absolutes in these rates. They have a form you can fill out when you set
up an account that will let you negotiate your own. As long as they are in line, they will go with you.

I simply said I wanted the high volume rate and it was given. All these numbers being tossed around are
giving me a headache.

These are probably new figures that have popped up after I was signed up, as I've been with them
for years.

Have you tried calling anyone down there?

PM me if you want a get to someone on the inside.

Wheel and deal, baby... Think like a wolf in wall street

+1!

I'm curious .... what kind of volume are you guys trading when you are concerned about dimes and quarters?

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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  #98 (permalink)
 Bogan 
Australia
 
 
Posts: 48 since Feb 2011


Joseph Connors View Post
+1!

I'm curious .... what kind of volume are you guys trading when you are concerned about dimes and quarters?

This is not about dimes, but about how hard it is to get accurate info from them. And it shouldn't be this way as they are wasting our time.

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  #99 (permalink)
 Hammerhorn 
Carson City, Nevada
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP CQG for now
Trading: GC, NG, TF, CL
 
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Bogan View Post
This is not about dimes, but about how hard it is to get accurate info from them. And it shouldn't be this way as they are wasting our time.

When I recover from this Mirus debacle I will move my account from AMP to Optimus. I just hate down days. Anyway on Thursday AMP called me up and was asking if I was happy and I asked as I had before for a print out of the volume pricing. As I have been told before, in a long, spinning circles around subject blab fest, that is not possible, just look at your daily reports. BS

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  #100 (permalink)
MoscowOnHudson
USA / Lithuania
 
 
Posts: 17 since Jan 2014
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Hi,


I have some information about AMP's rates... hopefully this should provide some clarity and closure to this topic.

I called last week and talked 'bottom-line' to my broker. Since I am originally from Eastern Europe, I was provided with a Russian speaking broker, so it's nice to be able to speak to someone 'more freely' in my native tongue.. Anyway, he always said he quotes all-in, inclusive of all fees except the misc. like liquidation fees or unforseen stuff like me switching to a paid platform without him knowing through my portal before notifying him. So I asked him what the deal is with Ninja now being offered on CQG, TT, and Rithmic and wanted a full breakdown of my commissions, which are more or less the AMP rates discussed here.

The answer was basically that CQG has the most to offer in terms of OCO on the server-side, tick/trin (additional cost tough), etc. Rithmic is $0,25/side, CQG is $0,10/side, TT is 'free' but offers no historical data and the DOM fee is mandatory due to the TT patent, so it's an extra $0,20..

So what this all means is this, if also realizing that the CME increased its rates as of January 1, 2014.....

For the ES at a rate of 1 round-turn I was looking at the following (my account balance is about $2,000 so I don't qualify for the even cheaper flat rate):

- Ninja/CQG: $4,04 all in (was $4,02 + $0,02 now as of 1/1/2014 - see CME note above). Broken down as $3,82 + $0,20 CQG trade route technology fee. EUREX isn't free, but all of the other exchanges are except Singapore, which I don't trade anyway. If you use CQG, the clearing for is always $1,00 per round-turn -- I can confirm since I used CQG Ninja and CQG Trader and both are the same.
- Ninja/Rithmic: $3,82 + $0,02 CME incease = $3,84 (apparently the clearing fee is discounted for Rithmic by $0.50 according to my statement, but the Rithmic fee is $0.50/rt, so it evens out, but there is no CQG $0.20 routing fee for round-trip, so it's a net of -$0,20. I trade EUREX and was warned on Friday it's coming soon, but not available yet. Really hope it's launched imminently, because I trade a lot on FESX. Hope AMP is listening here... the Australian colleague above also said he wants this, so it's not only me.
- Ninja/TT: $3,34 but with the compulsory StaticDOM fee of $0,20 for a total of $3,54. Same thing due to discounted clearing it seems -- will have to confirm with broker, but I can confirm from my statement that $3,54 is all-in with this and you get the Static DOM included without a choice, but it's not AMPs fault as I understand due to TT patents and licensing agreements. Obviously no CQG $0,20 routing fees, but I don't like that there is no historical data. Cheaper isn't always better. TT is great, but I prefer it for X_Trader, not Ninja. EUREX is free however.

The calculator doesn't seem to have been updated for the CME small increases as of Jan 1 for some instruments like agricultural, indices, etc. This is where the confusion seems to arise.

My broker notified me of the increases ahead of time so I knew to add $0,02 for any round-turn traded on the ES as of the New Year. So $4,02 became $4,04 for ES, but oil, gold, and currencies did not change he said.

Again, the rates above are from my statement, so I can confirm they are correct after speaking to my broker, but will contact him with a few other questions soon.

Hope this helps!

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