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AMP Futures and Mirus (NinjaTrader Brokerage as of June 30 2014), which one is better


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AMP Futures and Mirus (NinjaTrader Brokerage as of June 30 2014), which one is better

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  #201 (permalink)
 sandman 
San Antonio, Texas
 
Experience: Intermediate
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And that inactivity fee I can't imagine ever being a problem for me.

But one question "VF" is that "velocity futures" you ditched? I had been curious about them as I'd heard great things...

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  #202 (permalink)
TXmkrr
Dallas Texas/USA
 
 
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hi sandman, I am also in texas and mirus customer. howdy

I was just talking to my friend and we just read that mirus is offering this month a $500 credit to anyone that transfers in to them, but credit is only for new customers that transfer in before the end of the month. What about us? We are the customer that have been with them and obviously over paying by 25 cents. They should comp us too!!! What do you think?

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  #203 (permalink)
 sandman 
San Antonio, Texas
 
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TXmkrr View Post
hi sandman, I am also in texas and mirus customer. howdy

I was just talking to my friend and we just read that mirus is offering this month a $500 credit to anyone that transfers in to them, but credit is only for new customers that transfer in before the end of the month. What about us? We are the customer that have been with them and obviously over paying by 25 cents. They should comp us too!!! What do you think?

$500? Maybe we should transfer our accounts out & then back in!

But seriously...I'm just glad to have a reliable broker. Somebody I can email or call & actually get an answer, and who won't raise my blood pressure 25 points beyond what it's already raised from the normal vicissitudes of trading the euro futures these days. Life is just too d&mn short.

Is that worth an extra 25 cents? Yeah, and after what I've seen at amp, I'll bend down & kiss their feet, too!

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  #204 (permalink)
TXmkrr
Dallas Texas/USA
 
 
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Thanks Sandman!! I needed that...that is hilarious. I think that is really a great idea!! But on serious note , if mirus does not comp me on monday when i call them..i will be pissed. I really do not like when companies only think about new customers and not the long time ones.

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  #205 (permalink)
Silence Exp
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sandman View Post
And that inactivity fee I can't imagine ever being a problem for me.

But one question "VF" is that "velocity futures" you ditched? I had been curious about them as I'd heard great things...

Yes, it is. Something has changed in their relationship with customers, even if I still feel their portal the best thing they have. They have become rude, unfriendly, anonimous (everybody reply and sign with their id-number) and impatient too however ... it's better to come back to Mirus and Amp ;-)

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  #206 (permalink)
 kronie 
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Silence Exp View Post
Yes, it is. Something has changed in their relationship with customers, even if I still feel their portal the best thing they have. They have become rude, unfriendly, anonimous (everybody reply and sign with their id-number) and impatient too however ... it's better to come back to Mirus and Amp ;-)


MIRUS!!!!!! over Amp

any day of the week!

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  #207 (permalink)
 sandman 
San Antonio, Texas
 
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kronie View Post
MIRUS!!!!!! over Amp

any day of the week!

Completely agree. Don't know about Velocity.

But Amp is totally unacceptable. Been there. Done that.

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  #208 (permalink)
 sandman 
San Antonio, Texas
 
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rafiqtrader View Post
hi, you guys over and over again have came to the defense of mirus in this thread. I have to say that can feel for you sandman. it does seem like you had a personal bad experience with amp. in my opinion we should try to narrow down the major differences between these two firms. that really means somthing to us traders. We can go back and forth about customer service, which i have had nothing but the best from amp, so experience is the exact opposite. on the other hand, i am reading all on other boards about zenfire disconnects, mirus indiffence to customer loss of connection, zenfire lagging during news releases, inactivity fees, mirus owners also own a chicago prop shop. so i propse we we make a list of what is really important to us traders.

What is really important to me is:

technology: AMP = CQG Mirus = zenfire
speed; i need some help with this one
price: amp is cheaper
margins: same
available markets: amp has more
trading back up : not sure what mirus has - AMP has CQG realtime portal
trade desk: never used

that is why i think amp is better than mirus, but we should use this thread to get the real answers. i look forward to seeing your inputs

rafiq

Suffice it to say, I'd rather chew on broken glass, wash it down with gasoline & have a match for dessert than trade with amp ever again.

The remainder of my experience with amp, I've listed elsewhere, so I won't repeat it.

My concerns are with lousy customer support.

But I would suggest folks look at the FCM data from the CFTC site & compare the clearing firms available at Mirus (RCG=Rosenthal Collins Group, Dorman) with amp clearing. Amp has perhaps $30 million in customer assets and at most $1 million in excess liquidity. Compare that with RCG. I don't believe a broker would have access to your assets unless they were also doing the clearing, but could be mistaken. Thievery like what happened at MF Global would have to be instigated at Rosenthal Collins, and they state on their front page where client funds are invested updated every month. So the insinuation about prop trading at Mirus is totally off-base. Don't know much about Dorman, but even they seem much better established and capitalized than the sort of clearing Amp forces on you. And I would add, that sort of arrangement with in-house clearing makes them more susceptible to the sort of shenanigans you saw at MF Global. I'm not insinuating they ARE doing that, just stating such a betrayal is more possible in that setting. I mean, I guess it's POSSIBLE Mirus could somehow get RCG to wire your funds from a customer segregated account in RCG's name to a Mirus prop trading firm foreign subsidiary to settle some obligation from their prop trading... in the same sense that it's possible the moon is made of limberger cheese with seas of coca cola. It's just not very likely. The more likely response to such a request would be, "are you insane?" possibly along with a phone call to the fbi.

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  #209 (permalink)
Ilovetotrade
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rafiqtrader View Post
hi, you guys over and over again have came to the defense of mirus in this thread. I have to say that can feel for you sandman. it does seem like you had a personal bad experience with amp. in my opinion we should try to narrow down the major differences between these two firms. that really means somthing to us traders. We can go back and forth about customer service, which i have had nothing but the best from amp, so experience is the exact opposite. on the other hand, i am reading all on other boards about zenfire disconnects, mirus indiffence to customer loss of connection, zenfire lagging during news releases, inactivity fees, mirus owners also own a chicago prop shop. so i propse we we make a list of what is really important to us traders.

What is really important to me is:

technology: AMP = CQG Mirus = zenfire
speed; i need some help with this one
price: amp is cheaper
margins: same
available markets: amp has more
trading back up : not sure what mirus has - AMP has CQG realtime portal
trade desk: never used

that is why i think amp is better than mirus, but we should use this thread to get the real answers. i look forward to seeing your inputs

rafiq


What does it mean when someone is so concerned about a few cents costing more but would sacrafice any decent support from a broker so they could save those few cents. My past experience with Amp cost me $9600 because they didn't provide ANY support or backup for the mistake. How many trades would I have to make to recover those few cents per trade? As I stated before, I hope they have cleaned up their act, but sure am not going to give them the chance to prove it to me that they have, unless they are willing to re-imburse my $9600 Usually when you pay less, you get less. Being cheaper does not gurantee better service, bad service at cheap prices costs more than paying higher prices and receiving better support.

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  #210 (permalink)
Ilovetotrade
Edmonton, Alberta
 
 
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TXmkrr View Post
hi sandman, I am also in texas and mirus customer. howdy

I was just talking to my friend and we just read that mirus is offering this month a $500 credit to anyone that transfers in to them, but credit is only for new customers that transfer in before the end of the month. What about us? We are the customer that have been with them and obviously over paying by 25 cents. They should comp us too!!! What do you think?


I agree totally with you TXmkrr, but this happens every day with every different type of business as well, but you should know that regardless of what business today you are involved with, for that almighty dollar, they DON'T care about you and will do whatever they can come up with to increase the profits for THEMSELVES. Any company who offers better deals or services to new customers than they do to the ones who have made them successful in the first place, for me, if they don't offer the same deal to me has just automatically lost a customer. If they don't match, you will know that you don't mean anything to them, so dump them.

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  #211 (permalink)
 sandman 
San Antonio, Texas
 
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rafiqtrader View Post
thanks. i actually got notice from amp about this topic.

We would also like to take this opportunity to remind you that AMP is one of the only FCM's today that does not engage in any business other than the processing of trades for Futures and Commodity Customers. We have no proprietary trading, no exposure to mortgage backed securities, and no exposure to European debt.


lets add that to the list. amp is fcm and mirus is ib.

in my opinion it is was safer to go with a fcm that deals only with its own customers than go with the bigger and older fcm where who knows what they are doing. like mf global

My opinion is quite the opposite. The bigger and older clearing firm is safer, particularly when removed from the broker. As I think I've made clear, Mirus' reach into client assets held elsewhere is non-existent, so the insinuation made that they could be involved in an MF Global type scam is just plain silly. Frankly, I don't care if Mirus is involved in prop trading as long as they have no ability to put my assets at risk there. It's just irrelevant propaganda spread by amp. Look at the FCM financial data. That's cold hard data that doesn't lie.

Amp as a clearing firm looks like it's run out of somebody's garage. $30 million in client assets is a bad joke, as is $800K in excess liquidity. You think you know what they're doing with your money? I don't see an explicit statement anywhere concerning the issue. Is it in the bank, t-bills, repos, what? Again contrast that with the explicit statement from the front page of the RCG site. If you want to trade your $1k account at amp, be my guest. If you're trading real money, I think you'd be smart to look elsewhere. Bottom line, just doing the math, is with what Amp is listing as client assets under management, they would have at most say 300 clients my size as their complete client base. This isn't a place where well-capitalized traders are trading. They are tiny.

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  #212 (permalink)
 ThatManFromTexas 
Houston,Tx
 
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rafiqtrader View Post
thanks. i actually got notice from amp about this topic.

We would also like to take this opportunity to remind you that AMP is one of the only FCM's today that does not engage in any business other than the processing of trades for Futures and Commodity Customers. We have no proprietary trading, no exposure to mortgage backed securities, and no exposure to European debt.


lets add that to the list. amp is fcm and mirus is ib.

in my opinion it is was safer to go with a fcm that deals only with its own customers than go with the bigger and older fcm where who knows what they are doing. like mf global

I have an account with Mirus.

My money is handled by Rosenthal Collins Group. This is from their website

Do you know how your broker invests customer funds?


Click here to see how Rosenthal Collins Group invests customer segregated funds


I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #213 (permalink)
 sandman 
San Antonio, Texas
 
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ThatManFromTexas View Post
I have an account with Mirus.

My money is handled by Rosenthal Collins Group. This is from their website

Do you know how your broker invests customer funds?


Click here to see how Rosenthal Collins Group invests customer segregated funds

Attachment 65963

Yes. That is precisely what I was referring to. Transparency.

Nothing analogous at amp.

The situation at MF Global was a complete lack of transparency, combined with prop trading and in-house clearing. That gave them the incentive and means to do what they did. At least 2 of those 3 conditions exist at Amp. They say they aren't involved in prop trading, but in reality, who knows...

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  #214 (permalink)
 dlatbm 
Sydney Australia
 
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sandman View Post
Yes. That is precisely what I was referring to. Transparency.

Nothing analogous at amp.

The situation at MF Global was a complete lack of transparency, combined with prop trading and in-house clearing. That gave them the incentive and means to do what they did. At least 2 of those 3 conditions exist at Amp. They say they aren't involved in prop trading, but in reality, who knows...

I don't like AMP either but rafiqtrader has got a point, or rather technical points that makes AMP much better offer than Mirus
"technology: AMP = CQG Mirus = zenfire
speed; i need some help with this one
price: amp is cheaper
margins: same
available markets: amp has more
trading back up : not sure what mirus has - AMP has CQG realtime portal
trade desk: never used"
However you both present an argument about MF Global in a very naive way. If you get the last CEO of their futures division to run AMP or RCG then your money will be gone if he decides to do so. No amount of transparency will save your funds from the swindle. If they can get away with the crime they committed without being even put to the court they will be doing it again and again.

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  #215 (permalink)
 sandman 
San Antonio, Texas
 
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dlatbm View Post
I don't like AMP either but rafiqtrader has got a point, or rather technical points that makes AMP much better offer than Mirus
"technology: AMP = CQG Mirus = zenfire
speed; i need some help with this one
price: amp is cheaper
margins: same
available markets: amp has more
trading back up : not sure what mirus has - AMP has CQG realtime portal
trade desk: never used"
However you both present an argument about MF Global in a very naive way. If you get the last CEO of their futures division to run AMP or RCG then your money will be gone if he decides to do so. No amount of transparency will save your funds from the swindle. If they can get away with the crime they committed without being even put to the court they will be doing it again and again.

My point is rather simple. With in-house clearing there isn't one additional check before a wire can be sent using your funds to satisfy a corporate obligation. Thus, prop trading at Mirus doesn't worry me. If they cleared their own stuff as Amp does & they did prop trading, very different story. The very ability to carry out an MF Global type theft would be very questionable. For that to happen at Mirus, you'd need two people acting in collusion, one at Mirus, the other at RCG. It's not merely a matter of John calling up Frank & saying, "we need the clients money to save the firm. do the wire.".

Go ahead & use amp. See if I care. Everything I saw as a client & after makes me think they are awful & risky. But hey, what do I know. For 3 months I was running the same trades, same volumes, same instruments and same times at the two brokers. I would suggest to anybody who doesn't accept the results of my experiment, go ahead & reinvent the wheel doing the same with half your account at each. Then decide. You can make these stupid lists about this or that, but until you work them side-by-side, get discourtesy, aggravation, and hypertension at one and angels & harp music at the other, you'll never really know. And look at the FCM financial data on RCG, Dorman, and AMP at the cftc site as well.

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  #216 (permalink)
 dlatbm 
Sydney Australia
 
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sandman View Post
My point is rather simple. With in-house clearing there isn't one additional check before a wire can be sent using your funds to satisfy a corporate obligation. Thus, prop trading at Mirus doesn't worry me. If they cleared their own stuff as Amp does & they did prop trading, very different story. The very ability to carry out an MF Global type theft would be very questionable. For that to happen at Mirus, you'd need two people acting in collusion, one at Mirus, the other at RCG. It's not merely a matter of John calling up Frank & saying, "we need the clients money to save the firm. do the wire.".

I agree that AMP sucks despite some technical points that you discussed. There is a public ignorance about MF Global and their customers probably did not think that could have happened to them - having their money in segregated accounts. 1.6 B is missing and our friend does not know where it went?? Someone had to call someone else to move the money before the public announcement and the call was not about saving the firm. They got their bonuses and the customers went broke. If you feel your funds are safer here but not there - read more about the case and question everything.
Thanks - no need to respond.

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  #217 (permalink)
TXmkrr
Dallas Texas/USA
 
 
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TXmkrr View Post
hi sandman, I am also in texas and mirus customer. howdy

I was just talking to my friend and we just read that mirus is offering this month a $500 credit to anyone that transfers in to them, but credit is only for new customers that transfer in before the end of the month. What about us? We are the customer that have been with them and obviously over paying by 25 cents. They should comp us too!!! What do you think?

I am officially out of there!!! I feel like such a sucker. After i got pissed about them offering to pay new customers $500 credits to transfer in to them, i did a simple google search on all the ninja brokers mention in this forum. all of them cheaper, at least 25 cents cheaper and lower from the very 1st trade. add to it, not on them have inactivity fees.

Mirus-Zenfire - ES $4.22 CL $4.84 and $25 inactivity fee
Optimus-Rithmic- ES $4.00 CL $4.34
Velocity-TT- ES $3.82 CL $4.44
AMP-CQG- ES $3.62 CL $4.24

and for what? Zenfire? the same as rithmic. Zenfire better than TT or CQG. I doubt it...i do not see any professionals talking about zenfire. Zenfire is just another marketing play by mirus...just like the $500 credit to lure newbie traders into over playing for commissions.

Learn from my ignorance, shop around and treat your trading as a real business.

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  #218 (permalink)
 Big Mike 
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Regarding the $500 of commission credit from Mirus, you can see this thread:



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  #219 (permalink)
Silence Exp
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TXmkrr View Post
add to it, not on them have inactivity fees.
Mirus-Zenfire - ES $4.22 CL $4.84 and $25 inactivity fee

Have you considered the margins ?

Yes, inactivity fee is ridiculous and hateful even if it's easy to beat at moment, but Zenfire is oriented to ask 40 R/T as a minimum. This will sound very unpopular. If I trade a couple of days in a month I risk to pay this hateful fee. Isn't this an ovetrading encouragement ? I hope that Mirus and Zenfire read this forum ...

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  #220 (permalink)
 ThatManFromTexas 
Houston,Tx
 
Experience: Advanced
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First little old lady, "The food here is sooo bad"
Second little old lady, "... and the portions are so small"

First Trader, "..... broker charges an inactivity fee for not trading..."
Second Trader, " ..... and they charge $0.25 more per trade"



I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #221 (permalink)
Silence Exp
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TXmkrr View Post
Velocity-TT- ES $3.82 CL $4.44

They have a maintenance monthly fee 30$ waived if 50+ contracts traded each month or active platform is 'their' X_TRADER®. So, if you use NT you pay 30$ monthly trade or not. If you use X-Trader ES is $4.52 CL is $5.14.

I think this kind of fee, maintenance, inactivity, will become common among discount brokers because it is originated from the data feed vendors (TT and Rithmic)


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  #222 (permalink)
 cory 
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Silence Exp View Post
They have a maintenance monthly fee 30$ waived if 50+ contracts traded each month or active platform is 'their' X_TRADER®. So, if you use NT you pay 30$ monthly trade or not. If you use X-Trader ES is $4.52 CL is $5.14.

I think this kind of fee, maintenance, inactivity, will become common among discount brokers because it is originated from the data feed vendors (TT and Rithmic)


no inactive fee for AMP+CQG feed.

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  #223 (permalink)
 mattz   is a Vendor
 
 
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I think this kind of fee, maintenance, inactivity, will become common among discount brokers because it is originated from the data feed vendors (TT and Rithmic)

Rithmic does not charge ANY inactivity fees. I am not sure where you got this info.
They will not provide you ongoing quotes forever if you don't trade but they don't charge for inactivity.
The decision to have inactivity lies within the IB/FCM

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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  #224 (permalink)
Silence Exp
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mattz View Post
Rithmic does not charge ANY inactivity fees. I am not sure where you got this info.
They will not provide you ongoing quotes forever if you don't trade but they don't charge for inactivity.
The decision to have inactivity lies within the IB/FCM

Are you working for Rithmic ? Your words sounds a little bit aggressive. Sorry but I have two margin accounts selftraded and one managed. The two brokers, and they are in the top 50 ... with TT and Zen-Fire, both introduced at the end of 2011 the maintenance/inactivity fee.
I suppose, and I say suppose, that soon all will introduce this fee.
Mirus is transparent and clear. They begun to notify its customers well in advance and then postponed the fee to January 1. In any case, their limits are very low to be overcome. 5 r / t only, nothing if any NT login in the month, it's possible to suspend and reactivate the data feed for long time if you plan to stay out.

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  #225 (permalink)
 futuretrader 
Como Italy
 
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Silence Exp View Post
Are you working for Rithmic ? Your words sounds a little bit aggressive. Sorry but I have two margin accounts selftraded and one managed. The two brokers, and they are in the top 50 ... with TT and Zen-Fire, both introduced at the end of 2011 the maintenance/inactivity fee.
I suppose, and I say suppose, that soon all will introduce this fee.
Mirus is transparent and clear. They begun to notify its customers well in advance and then postponed the fee to January 1. In any case, their limits are very low to be overcome. 5 r / t only, nothing if any NT login in the month, it's possible to suspend and reactivate the data feed for long time if you plan to stay out.


OT: Love the avatar, Silence Exp; I thought of using the tuffatore myself. I wrote a piece based on it once.

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  #226 (permalink)
Silence Exp
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OT: Love the avatar, Silence Exp; I thought of using the tuffatore myself. I wrote a piece based on it once.


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  #227 (permalink)
 mattz   is a Vendor
 
 
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Are you working for Rithmic ? Your words sounds a little bit aggressive. Sorry but I have two margin accounts selftraded and one managed. The two brokers, and they are in the top 50 ... with TT and Zen-Fire, both introduced at the end of 2011 the maintenance/inactivity fee.
I suppose, and I say suppose, that soon all will introduce this fee.
Mirus is transparent and clear. They begun to notify its customers well in advance and then postponed the fee to January 1. In any case, their limits are very low to be overcome. 5 r / t only, nothing if any NT login in the month, it's possible to suspend and reactivate the data feed for long time if you plan to stay out.

I am not working for Rithmic, we are a brokerage and we use them almost exclsuively for our trading applications:NinjaTrader,Multicharts,Sierra,RTrader, etc

If I sounded aggressive, I had no intentions of doing so, neither had I the intentions of criticizing any other brokerage out there. in fact, I never did.
All I was trying to say is that Rithmic or my clearing firm did not (so far) impose any inactivity fee that I had to pass on to my custimer. as for commissions, we are very competitive as well.

I have noticed that if someone does not use Rithmic for a long time then the quotes get discontinued.
They are reactivated upon request after.

I truly wish you well in your trading, and please understand that the only reason I jumped on this thread is to clarify something that we heavily rely upon (Rithmic). It is after all it's own independent feed and platform as well.

Matt

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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  #228 (permalink)
 Big Mike 
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  #229 (permalink)
 slickiam 
Tomsk, Russia
 
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Each broker had some own reasons for an inactivity fee.

Mirus set it w 5 rt in order to check the client base
AMP set it w 40 rt in order to shake off Zen-fire
It's good to hear that mattz set no inactivity fee.

And it's all about Rithmic

imho

Scientia Libertas Prosperitas
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  #230 (permalink)
MooneyNYG
New York, NY USA
 
 
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You can see from the CME site that rithmic is certified with the CME and zenfire is not.

If zenfire was a stand alone trading technology it would be listed at the exchange.
Choosing a Trading Application

About time truth is coming out! Keep up the good work mattz Lots of great feedback on futures.io (formerly BMT) and now everyone can see that rithmic is the direct source to the exchange - not zenfire. I smell mirus whitelabel

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  #231 (permalink)
 torroray 
Malaysia
 
Experience: Beginner
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Hi,

On AMP data feed page I read data from exchange. Is the data filtered or unfiltered?

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  #232 (permalink)
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Hi,

On AMP data feed page I read data from exchange. Is the data filtered or unfiltered?

CQG, Zen-Fire, Rithmic and Kinetick are all unfiltered.

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 torroray 
Malaysia
 
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The free data.

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 Big Mike 
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  #235 (permalink)
rompetechos
Zaragoza (Spain)
 
 
Posts: 8 since May 2012
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Interesting thread! It's very hard to find accurate info about brokers.

I read elsewhere (I cant still post URLS being new) that AMP is market maker.

Is this correct?
Mirus is market marker or has DMA?

Thanks

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  #236 (permalink)
rompetechos
Zaragoza (Spain)
 
 
Posts: 8 since May 2012
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I got this reply from Mirus:

Thanks so much for your interest in Mirus Futures. Neither AMP nor Mirus Futures are market makers; we are brokerage firms. Mirus offers DMA through its technology partner, ZenFire.

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  #237 (permalink)
 GreatDane 
Tampa, FL
 
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rompetechos View Post
Interesting thread! It's very hard to find accurate info about brokers.

I read elsewhere (I cant still post URLS being new) that AMP is market maker.

Is this correct?
Mirus is market marker or has DMA?

Thanks

Not sure, but I think you're (or your source) is confusing Market Maker with FCM (Futures Commission Merchant), which AMP is. They clear through themselves.

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  #238 (permalink)
 NW27 
Newcastle, Australia
 
Experience: Intermediate
Platform: Multicharts 8 - Full Version
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What exactly does this mean?
How does this impact me?
Do the trades still go through the futures exchange ?
If not, is, or should it be, exactly the same price as the exchange ?
What about volume ?

Neil

Sent from my GT-I9100T using Tapatalk 2

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  #239 (permalink)
 traderwerks 
Taipei Taiwan
 
Experience: Advanced
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Broker: AMP Clearing
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NW27 View Post
What exactly does this mean?

I am not sure what 'this' you are referring to, but I assume is that AMP 'trades through itself'

AMP Clearing and AMP Trading are different.

AMP Trading clears with AMP Clearing. Thats it.


NW27 View Post
How does this impact me?
Do the trades still go through the futures exchange ?
If not, is, or should it be, exactly the same price as the exchange ?
What about volume ?

Neil

Everything goes through the exchange.

Math. A gateway drug to reality.
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  #240 (permalink)
forexmaster
alexandria
 
 
Posts: 1 since Feb 2012
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AMP has the worst customer service ever. Good on fees, etc. On several occassions, I only asked a simple question, like "has my wire transfer been completed" The guy was literally yelling and got upset. These guys must trade also. They must be losing a lot of money. I have dealt with some rude reps before, but not like this.

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  #241 (permalink)
 sandman 
San Antonio, Texas
 
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I can imagine folks would find Amp useful if and only if they never had to interact with another human being at the firm. That would mean a trade never goes awry, banking happens flawlessly, and there's never a glitch in their technology. If there is a breakdown in any of those things & you have to interact with somebody there, it'll leave such a foul taste in your mouth you'll immediately run screaming someplace else (anywhere else). And that's a risky state to be in.

I can't see how a firm like amp survives long term (>5 years).

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  #242 (permalink)
zupnik
Zagreb
 
 
Posts: 7 since Jul 2011
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I was trading with for three months.
I suppose that every client is connected to the Exchange. But later if they see that You are not a sucssessfull trader, they disconnect you from the exchange and loosing trades from you, they get the money.
I saw that on exchange the trades are executed very fast. Later if the client is in larger gains, closing is very poor and slow. Similar by forex brokers(market makers).
That is my experience and only my opinion.
I cant assert it 100%, but I felt somehow the difference.
I was using at the samr time two brokers, Infinity besides. Prices is comming from the exchange, they have not to be different. They must be the same if you participate on the same exchange. I traded currency futures only.
So I cant guess wich from this two is the right one.
Mirus, I had only Demo.
They always told: it depends from Internet connection. I did test ping several times, it was from Croatia to Chicago 90 miliseconds.
Internet connection, no question.

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  #243 (permalink)
 traderjcf 
Amherst, New York
 
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I never had a problem with AMP connection or execution unless I was using wifi which is on me...I have dealt with with Dan and tech support team without issue. I learned the hard way that you need a good internet connection or else things get ugly fast but that has nothing to do with AMP...

One time I was disconnected talking to the tech guy and he called back faster than I could dial the number back to him

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  #244 (permalink)
 kalalex 
Up the Ladder, CA
 
Experience: Beginner
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Broker: Optimus & AMP
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sandman View Post
I can imagine folks would find Amp useful if and only if they never had to interact with another human being at the firm. That would mean a trade never goes awry, banking happens flawlessly, and there's never a glitch in their technology. If there is a breakdown in any of those things & you have to interact with somebody there, it'll leave such a foul taste in your mouth you'll immediately run screaming someplace else (anywhere else). And that's a risky state to be in.

I can't see how a firm like amp survives long term (>5 years).

It's all behind me now,,,,or I thought so.

I left them a couple of months ago but I still get monthly statements over email.
I sent emails a few times to request the account "closed" and nothing happens,,,no reply nor results.

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  #245 (permalink)
 uexkuell 
Pt Vala
 
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kalalex View Post
It's all behind me now,,,,or I thought so.

I left them a couple of months ago but I still get monthly statements over email.
I sent emails a few times to request the account "closed" and nothing happens,,,no reply nor results.

Be sure that Mirus (RCG) is doing the same thing:

Refusing to close my account.
Continuously sending account statements.

No difference between the two in this aspect.

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  #246 (permalink)
havaiana
Melbourne + Australia
 
 
Posts: 7 since Jun 2012
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I opened an account with AMP and have transferred money to the account. I am unable to get any details about the funds or any access to a platform. Have not had even one response to the many emails i have sent for the past 3 weeks

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  #247 (permalink)
 dakine 
Volcano, HI
 
Experience: None
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Broker: AMP/CQG
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havaiana View Post
I opened an account with AMP and have transferred money to the account. I am unable to get any details about the funds or any access to a platform. Have not had even one response to the many emails i have sent for the past 3 weeks

Have you tried calling? Try calling them sometime in the morning central time...

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  #248 (permalink)
 researcher247 
Chicago, IL
 
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havaiana View Post
I opened an account with AMP and have transferred money to the account. I am unable to get any details about the funds or any access to a platform. Have not had even one response to the many emails i have sent for the past 3 weeks

----------
Oh,

Hi there havaina,

I dogged you out on ET; sorry about that.

Use the phone (even if you are not funded). Use their 'prompts' and someone will check everything for you.

Email can get lost or into 'spam' or ???

Phone is easier and faster (even if you prefer email). Even over there in Aussie-ville~~I believe it is a free call to the states, no?

peace

hedvig

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  #249 (permalink)
 jthom 
Sydney / Australia
 
Experience: Intermediate
Platform: NT
Broker: AMP
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I too have had similar problems with them as well. Ironically i COULD NOT get my money out as well. After repeated attempts to email, nothing happened. I think its generally the problem with large brokers. You are just a account number using their service. They are not supplying you one.
I eventually got my money out of AMP, and went to PFG where I had the SAME PROBLEM.
Then I took a chance with OPTIMUS, and haven't been disappointed. Money can be taken out the next day!

MattZ is the ManZ

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  #250 (permalink)
 GreatDane 
Tampa, FL
 
Experience: Advanced
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Posts: 52 since Jun 2010
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+1 on the thought of calling. I like email, too, and I think some feel uncomfortable on the phone with brokers, maybe if they're new to trading, that they don't know how it all works? I don't know, but the thought of sending emails for weeks and not simply calling seems like an odd choice.

I've had the email not acknowledged with AMP, too, but got them on the phone fine. It could be that they have a central email address, not individualized? I don't recall. My infinity broker has been great for email, and he has one dedicated to him. Perhaps that little tweak, of assigning a person a specific broker with an individualized email as soon as they even do a demo account would solve much of these problems. But until then, definitely call on the phone.

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  #251 (permalink)
 researcher247 
Chicago, IL
 
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JackJ View Post
+1 on the thought of calling. I like email, too, and I think some feel uncomfortable on the phone with brokers, maybe if they're new to trading, that they don't know how it all works? I don't know, but the thought of sending emails for weeks and not simply calling seems like an odd choice.

I've had the email not acknowledged with AMP, too, but got them on the phone fine. It could be that they have a central email address, not individualized? I don't recall. My infinity broker has been great for email, and he has one dedicated to him. Perhaps that little tweak, of assigning a person a specific broker with an individualized email as soon as they even do a demo account would solve much of these problems. But until then, definitely call on the phone.

------------------
Good summary.

Not to be a prick, but~~if one is not a native english speaker I would suggest they go with globalfutures.com

If a native english speaker--make the call.

Emails back and forth--lost in spam--lost in cyberspace; c'mon!

Just call and be a prick on the phone until you are talking with the right person.

Online chat--that is also slow and inefficient.

Man up! This is real money, not monopoly or World of Warcraft gaming or whatever...

peace

hedvig

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  #252 (permalink)
 NW27 
Newcastle, Australia
 
Experience: Intermediate
Platform: Multicharts 8 - Full Version
Broker: IB
Trading: SPI,FTSE100, 6E, 6A
 
Posts: 285 since Oct 2010
Thanks: 108 given, 186 received

Hi All
So given that I use AMP and make money how do you get your profits from amp ?
How fast and easy is this.

Neil

Sent from my GT-I9100T using Tapatalk 2

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  #253 (permalink)
 researcher247 
Chicago, IL
 
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NW27 View Post
Hi All
So given that I use AMP and make money how do you get your profits from amp ?
How fast and easy is this.

Neil

Sent from my GT-I9100T using Tapatalk 2

--------
Why do all dudes from Aussie-ville try and wind up the yanks, eh?

You are a troll.

Obviously it is called a bank wire or a certified check.

peace

hedvig

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  #254 (permalink)
 NW27 
Newcastle, Australia
 
Experience: Intermediate
Platform: Multicharts 8 - Full Version
Broker: IB
Trading: SPI,FTSE100, 6E, 6A
 
Posts: 285 since Oct 2010
Thanks: 108 given, 186 received

Not sure if I should take insult with your comments or not.

I was being serious .

With some brokers you connect to your account via the internet, nominate a amount and do a wire transfer, all yourself no broker interaction required . Funds transferred next day.
My current broker requires paper forms to be filled out and faxed off, a week or two later you may receive a cheque that takes another 3 days to clear.

So I didn't think I had unreasonable questions but thanks for your answers.

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  #255 (permalink)
 researcher247 
Chicago, IL
 
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NW27 View Post
Not sure if I should take insult with your comments or not.

I was being serious .

With some brokers you connect to your account via the internet, nominate a amount and do a wire transfer, all yourself no broker interaction required . Funds transferred next day.
My current broker requires paper forms to be filled out and faxed off, a week or two later you may receive a cheque that takes another 3 days to clear.

So I didn't think I had unreasonable questions but thanks for your answers.

Sent from my GT-I9100T using Tapatalk 2

--------------
Ahh, no worries then.

Bottom line; Amp if fine. Mirus is fine. So is Velocity. So is Optimus. So is Global. Another 5+ easily. 1/2 a dozen of one and 6 of the other.

I would just recommend everyone use the phone and try and talk with someone at the firm they are dealing with who 'knows things.'

And follow-up and confirm.

peace

hedvig

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  #256 (permalink)
 NW27 
Newcastle, Australia
 
Experience: Intermediate
Platform: Multicharts 8 - Full Version
Broker: IB
Trading: SPI,FTSE100, 6E, 6A
 
Posts: 285 since Oct 2010
Thanks: 108 given, 186 received

AMP fine doesn't really answer the question though.

Do you have or had an AMP account ?

Sent from my GT-I9100T using Tapatalk 2

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  #257 (permalink)
 researcher247 
Chicago, IL
 
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NW27 View Post
AMP fine doesn't really answer the question though.

Do you have or had an AMP account ?

Sent from my GT-I9100T using Tapatalk 2

-------------
No offense to you (are you a newbie)?

I am done with this discussion.

I have had brokerage accounts with at least 20 brokers in my 27+ year full-time trading career.

Go ahead--spend 2 months on this burning question.

Wow! I must be on my period today; I have NO luck with Aussie trolls.

peace

hedvig

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  #258 (permalink)
 NW27 
Newcastle, Australia
 
Experience: Intermediate
Platform: Multicharts 8 - Full Version
Broker: IB
Trading: SPI,FTSE100, 6E, 6A
 
Posts: 285 since Oct 2010
Thanks: 108 given, 186 received

So after 3 replies I guess your answer is, "you have no idea" you just like to throw insults. SAD.

Neil.

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  #259 (permalink)
 researcher247 
Chicago, IL
 
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NW27 View Post
So after 3 replies I guess your answer is, "you have no idea" you just like to throw insults. SAD.

Neil.

Sent from my GT-I9100T using Tapatalk 2

------------------
Neil,

I am going to apologize for my posts to you.

I have used Amp in the past and currently do so in two of my accounts.

Perhaps I am one of the 'lucky' ones; they treat me right. Maybe it is the size of the account I have there. It is just my own personal experience.

Finally, I have been @Amps physical location--the guys there are very polite and cordial and responsive to my needs (both in person and on the phone).

Regardless, again; sir--I apologize for getting personal. You were just being persistent and I misinterpreted that.

Finally, most others have had a less-than satisfactory experience with them according to a 'source' that emailed me recently.

All brokers should give clients good service; emails included, no matter the small retail trader or an 'exchange member' rate(s) trader.

peace

hedvig

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  #260 (permalink)
greedforsuccess
Sofia Bulgaria
 
 
Posts: 8 since Mar 2012
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Hello people.
From what I read till now I still don't know what the problem exactly is with AMP. Almost everyone is complaining about rudeness of amp's employees.
One said that he has lost 9600$ but show no evidence for a such thing.

I actually can understand why someone can be rude because I have a friend who works in a hosting company and the questions that receives are out of sync at all. I even wonder how someone could asks something so stupid like who is Google(literally).

About closing trades that have never been opened....How this can happen when there are so many regulations ? This is something I would like to know.

Also for what do you want to talk with the broker ? I have never had the need to talk to my broker for anything else than transactions and fees.

I also saw that on sim account some trades has been gone. But gone from where ? And in real account how can you have a trade that later can be gone and not existent ? All orders go to the exchange, so if there is no exchange you couldn't transmit an order, or I am wrong ?

Please explain to me. I know that are many questions but after I read this thread I am stunned and I need to know what is going on here.

Thank you!

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  #261 (permalink)
 traderjcf 
Amherst, New York
 
Experience: Advanced
Platform: NinjaTrader
Trading: ES, 6E
 
Posts: 76 since Jun 2010
Thanks: 14 given, 18 received

Yes, every trade is on the exchange...

Yes, AMP is heavily regulated...

Yes, AMP is one of the only FCM with no regulator action against it by the NFA
or CFTC....


Do some research...

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  #262 (permalink)
 Beljevina 
Toronto, Canada
 
Experience: Advanced
Platform: NinjaTrader, MT4
Broker: Amp/CQG, Citibank
Trading: CL, GC, 6E, ES, TF, EURUSD, GBPJPY, AUDUSD
 
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NW27 View Post
With some brokers you connect to your account via the internet, nominate a amount and do a wire transfer, all yourself no broker interaction required . Funds transferred next day.
My current broker requires paper forms to be filled out and faxed off, a week or two later you may receive a cheque that takes another 3 days to clear.

I'm not sure if you're still looking for an answer/confirmation to this.

I am with Amp. Usually, if I request today, before noon, I will receive funds in my bank account by the next day. It is all done online, through the customer portal. If they have a question, (ie., drawing from the USD or CAD side of my account, and I have not specified) I will receive a quick phone call or get the question via email.

Note I am in Canada, and there is a 1 hour time difference. I deal with one of the major Canadian banks. I mention this, because it often comes down to internal processes along the chain of events and process owners, involved in the lifespan of a wire transfer: one depends on it to be initiated ASAP from the sender (usually AMP does this by mid-Chicago afternoon). I assume it then instantly or overnight hits my Canadian bank, who I depend on to have someone being in place, on the job, and on the lookout to post it to my end-user bank account. I mention these details, because if a bank doesn't have someone checking for wire transfer completion at the right time of day (or daily), if a intermediary bank is involved that you may or may not know about, and when one factors in time zones (ie., Australia), and any other bank linkages that may or may not be there, there can be hurdles to getting the money this quickly. Yes, Canada is considered international, but I can't judge how quickly one would get a transfer to Europe or farther - I have seen it take longer to those destinations (just bank to bank wires), for reasons I can speculate about. (I think the Amp wire fee is $50 or so ... a bit of a bummer IMO)

And, you can also request a check be mailed, through the customer portal. This has taken 2 weeks for me in the past. There is no charge for a check request.

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  #263 (permalink)
 NW27 
Newcastle, Australia
 
Experience: Intermediate
Platform: Multicharts 8 - Full Version
Broker: IB
Trading: SPI,FTSE100, 6E, 6A
 
Posts: 285 since Oct 2010
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Hi
Thanks for the detailed answer , exactly what I was looking for.
Neil

Sent from my GT-I9100T using Tapatalk 2

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  #264 (permalink)
 sandman 
San Antonio, Texas
 
Experience: Intermediate
Platform: NinjaTrader, MT4
Trading: Currency Futures
 
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With Mirus, there is also an online form to request a wire transfer. When I've done it before 11 AM CST, I've always had the funds back in my bank account same day.

Granted, I'm in the US & have Bank of America, which probably is closer to wherever the center of the fed's wire transfer system is. Still, I find that absolutely amazing.

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  #265 (permalink)
 sandman 
San Antonio, Texas
 
Experience: Intermediate
Platform: NinjaTrader, MT4
Trading: Currency Futures
 
Posts: 29 since Sep 2011
Thanks: 3 given, 14 received


Quoting 
I've had the email not acknowledged with AMP, too, but got them on the phone fine.

The other day, I had a little problem with a trade not posting to my RCG portal. I emailed Mirus & had a response back within 10 minutes.

After what I saw at Amp, for that I'll kiss their feet, wax their cars,...

Knowing there's somebody on the other end who'll answer expeditiously and won't hang up on you whether it's an email to them, or a frenzied phone call to their trade hotline is priceless.

Don't have that at Amp.

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  #266 (permalink)
 traderwerks 
Taipei Taiwan
 
Experience: Advanced
Platform: NinjaTrader
Broker: AMP Clearing
Trading: TW
 
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traderjcf View Post
Yes, every trade is on the exchange...

Yes, AMP is heavily regulated...

Yes, AMP is one of the only FCM with no regulator action against it by the NFA
or CFTC....


Do some research...

They have only been an FCM since 2010. Not fair to compare to a firm like Crossland that has been around since 1987, or Dorman that has been around since 1983.

Math. A gateway drug to reality.
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  #267 (permalink)
 traderjcf 
Amherst, New York
 
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Trading: ES, 6E
 
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It's good enough for me...maybe people should have to submit proof that they have actually had an account at the broker they happen to be commenting on/bashing

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  #268 (permalink)
Ilovetotrade
Edmonton, Alberta
 
 
Posts: 22 since Feb 2011
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It shows that you are an advanced trader so find your comments ????. There can be only 3 reasons why someone would take the time to be involved with this blog or any other. One they could be knocking someone because they are a competitor, two, they could be showing favoritism for someone because they are with that organization and thirdly which I hope is the best reason, is that people are geniune with their comments because of what they have experienced what they are writing about or wanting to really know what other peoples experience has been in similiar situations so that they would know how to proceed in the future, is it a one time error or is it a common experience. Read all the blogs and you will see there is common concerns about AMP.
As far as your comment about someone losing $9600, that was me and as far as proving it, am I suppose to post my real account showing my statements to everyone as well with the countless emails that were involved with Amp? Or the times I have tried reaching someone, in particular Dan the owner by phone or emails(and him not returning calls or emails) who knows me from him being my broker with another brokerage firm? All I got was one reply putting blame on someone else and them (Amp Futures) not even bothering to find out what happened. They could have attempted to find out what happened but didn't. Another experience back then (don't know now) but they didn't even have a direct number to the order desk, shouldn't one know something like this before deciding if this is someone you want to deal with?
Anyway GREEDFORSUCCESS, either you believe what I wrote or you don't, and I am NOT a liar. I can prove to you that I lost that money, but I am not spending all that time to dig up all the information just to prove that I am not a liar, pay me for my time and I will give you all that I have about this situation. Am I greedy because I am asking for the money, not me, but with your GREEDFORSUCCESS name, don't know how you will take this information.

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  #269 (permalink)
greedforsuccess
Sofia Bulgaria
 
 
Posts: 8 since Mar 2012
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Thank you Ilovetotrade for the reply.
My nickname is 4 years old, but don't take it for judgment. I just like how these words sound.

So let's proceed.
You said this:
"is that people are genuine with their comments because of what they have experienced what they are writing about or wanting to really know what other peoples experience has been in similar situations so that they would know how to proceed in the future, is it a one time error or is it a common experience. Read all the blogs and you will see there is common concerns about AMP."

I mean this too. That is why I ask all these questions.
I used to trade Forex and the Forex brokers can be real mean, but when you try to contact them everything is fine and problem is almost always and every time in your pc, in your internet connection and never in them. They are always very kind but the trading and the actual terms are not noticed in the contract when you decide to become their costumer.
For that reason I don't care if broker will not say me Hello. I need good terms of trading, good connection, good prices.
And because amp are regulated by CFTC and NFA I start wondering after I read all these stuff here, why there are so many complaints. And the mainly complaints are about costumer care and not about the trading which is for me the most important thing. I don't want to talk to my broker, I use my broker only to give me access to the exchange.

I read for problems with data providers, disconnections with CQG, Zen, yesterday I read for problems with IQFeed which claim to have "the fastest, most reliable data available. There is no better value than Telvent DTN!"

So as anyone can see problems can be in every provider but for me the last thing to discuss is the kindness of the broker.
And one of the first things is why broker which is regulated by CFTC and NFA can do such thing like you described.

I am not calling you a liar. But I am interesting how this could happen and if it did, did you call CFTC and NFA ? And what they said ?

I have two friends who use AMP and the only thing that was some kind of "not good" was the commissions to one of them because he has agreed to certain commissions but when he start to trade he received other, but that was fixed immediately.

Some people are happy to use AMP as their broker but other are not. And I am trying to see who are they. Because you know that for some people the reason why they lose money is everything somewhere else but in them.
And this is what I am trying to understand. Is the broker real reason for losing which is also very probably or the person himself, which is more probably.

Sorry for the long post. I had to say it

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  #270 (permalink)
Ilovetotrade
Edmonton, Alberta
 
 
Posts: 22 since Feb 2011
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I am in Canada and yes I did contact the NFA and the Securities Division in the US but for a regulatory body to put muscle to their high words is another story, I realized I was wasting my time as the reaction and what they said I needed to do, it sounded to me that I was wasting their time. Here in Alberta, Canada, they would have assisted and helped me to make sure that the problem would have been looked into and solved. Maybe that is the reason that MOST brokerages, we cannot open accounts with in the US, not because Alberta doesn't want them, but because the US brokerage offices dont want to comply with Alberta's strict adherence to good rules. As far as the people in the brokerage offices goes, for me it is MOST important that they have integrity as EVERY one has challenges or problems that arise, so I want to be sure that they are there to fix these challenges. I tried in the Forex markets before, which apparently is not regulated, had an account at Gain Capital. I signed a contract where I was to be charged 5 PIPS for the British Pound and 3 PIPS for the Euro. Within 2 weeks, I was able to spot something was wrong when couldn't understand why my trades were filled but with a 5 & 3 PIP spread that account was losing money when my stops should have prevented it from such losses. After constant inquiries, finally (why they couldn't spot it right away or realize this is wrong) they said I agreed to a 15 & 13 PIP spread commission, unbelievable. They said they had the contract right in their hands, as if someone would agree to that. They faxed me the copy and I faxed them my copy and clearly a person could see it was tampered and put in at their end. As soon as I found out the Forex is not regulated, I stopped, threatened legal action for fraud, they offered me back the overcharged commission and amount lost. I took it but today regret that I didn't proceed with the lawsuit hopefully to stop them from doing it to others. Look at what the Wall Street boys did and not one is sitting behind bars today even though they made billions at the hands of the taxpayers. For me, it is way more important to deal with who are honest, have intergrity and are there for you when you need them. The one thing that Amp was good to me was I had the lowest commissions anywhere I have dealt with, on second thought, the lowest commissions cost me the most when taking the $96oo loss into account. Everyone has to decide for themselves, hopefully with true information not the BS that we are being fed by many today.

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  #271 (permalink)
 GentleTrader 
Rio de Janeiro - Brazil
 
Experience: Advanced
Platform: Sierra Chart
Broker: Stage5/IQFeed
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It took me hours with the Tech guy to make a wire out of AMP. I had to fill out the form more than 30 times,in differents browsers and versions. And the guy even told me to reboot my machine! Come on! It was just an HTML form! Don't trust the TI guys at AMP futures anymore.

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  #272 (permalink)
 AuburnTrader 
Auburn California
 
Experience: Beginner
Platform: TOS, Ninja Trader
Trading: Spot Forex
 
Posts: 162 since Aug 2011
Thanks: 48 given, 36 received

I had both an AMP and Mirus account. I am no longer with either as I have moved to spot forex. AMP seemed fine. I had a small issue with Ninja. My rep tried to figure out the problem. Made negative comments on my small account size ( he forgot he told me to open a $500 trial account to check them out in the first place--which I did!) and then lost interest in solving the problem. Overall the guy was nice but very salesman like. Their feed seemed fine. When I closed the account I got my check in a few days. A few months latter I was getting call backs from AMP. Mirus had the best customer service. My rep, Rich, was a great guy, down to earth, very helpful, and supportive. When I closed my account I got a check within a few days as well. Rich was very nice about everything. I personally would go with Mirus over AMP based on customer service alone. I am now using TOS with TD Ameritrade for spot forex. I have a love hate relationship with them

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  #273 (permalink)
 uexkuell 
Pt Vala
 
Experience: Advanced
Platform: Proprietary
Trading: CL, EUR, DAX
 
Posts: 58 since Apr 2010
Thanks: 12 given, 31 received

If there are any questions about how Mirus deals with customers
might be worth to look into this site:

https://forums.zenfire.com


It's their "support" site for API developpers.
It is now dead.
From the last posts you can find out why.

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  #274 (permalink)
 AuburnTrader 
Auburn California
 
Experience: Beginner
Platform: TOS, Ninja Trader
Trading: Spot Forex
 
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uexkuell View Post
If there are any questions about how Mirus deals with customers
might be worth to look into this site:

https://forums.zenfire.com


It's their "support" site for API developpers.
It is now dead.
From the last posts you can find out why.



Don't follow can you expand?

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  #275 (permalink)
 traderjcf 
Amherst, New York
 
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Trading: ES, 6E
 
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Problems filling out a simple wire request? Some of the complaints about AMP may be attributed to general user issues rather than to AMP. I have done many wires at AMP without any problems

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  #276 (permalink)
 kronie 
NYC + NY / USA
 
Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
 
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uexkuell View Post
If there are any questions about how Mirus deals with customers
might be worth to look into this site:

https://forums.zenfire.com


It's their "support" site for API developpers.
It is now dead.
From the last posts you can find out why.

"If there is any question?"

there are no questions!, Mirus over AMP, any day of the week, and twice on weekends!

So many professional traders and sophisticated retail traders use Mirus that the only problem you should have (except for the whiners and children type traders needing a thousand hours hand holding),

the only problem you should have, is in getting through to the same broker when he's handling another account's call.

Peregrine Financial, or whomever was in the news recently, where the 2nd or 3rd in charge took over $228 million customer funds for his own trading purposes.....

DUH...

Corazine's defunct firm that took well over $1 billions customer funds, and created a new verb in the process: "disappeared the funds", according to so many published news stories....

DUH....

We recently received more than one sincerely written letter from the principals of Mirus, and their clearing agents regarding their commitment to vigilance regarding the sanctity of customer funds, and preserving them....

DUH....

so, what matters most?
I think right up there, next to making a profitable trade, is knowing that my balances are and will still be properly and legally segregated and available for my purposes, not others...

DUH....

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  #277 (permalink)
 uexkuell 
Pt Vala
 
Experience: Advanced
Platform: Proprietary
Trading: CL, EUR, DAX
 
Posts: 58 since Apr 2010
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uexkuell View Post
If there are any questions about how Mirus deals with customers
might be worth to look into this site:

https://forums.zenfire.com


It's their "support" site for API developpers.
It is now dead.
From the last posts you can find out why.


AuburnTrader View Post
Don't follow can you expand?


Did you read the last forum entries?



In the last entry (from Thu Dec 08, 2011 8:21 pm) you can find this:


FutureScalper
... one of the general requirements of writing to the API would
be an account balance of $25,000. I'm not sure that Tony had known to
mention it to you before which is why I mention it here. The current level
of funding in your account would prevent you from being approved.
....
we do an interview with each developer/company before sending off the documentation
and login details.

Does this sound like reasonable conditions?

And what is worst: They change their conditions with the blink of an eye.

The post may give some of the reasons why retail developpers left Mirus
and why there are no more forum entries.





Also of interest:

First MFG(lobal), Now PFG: Who Is Next? | ZeroHedge

Check the list and see where you find RCG through which Mirus is clearing.

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  #278 (permalink)
1nfinlty
Melbourne Australia
 
 
Posts: 18 since Feb 2012
Thanks: 1 given, 7 received


kronie View Post
Mirus over AMP, any day of the week, and twice on weekends!

Mirus is a broker/dealer, AMP is just a broker, please tell me you know the difference between them?
And Mirus was bought not long ago by a prop trading firm hard eight futures, im not sure if that is such a good thing.

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  #279 (permalink)
1nfinlty
Melbourne Australia
 
 
Posts: 18 since Feb 2012
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traderjcf View Post
Yes, AMP is one of the only FCM with no regulator action against it by the NFA
or CFTC....

Yes but it is very "new"

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  #280 (permalink)
1nfinlty
Melbourne Australia
 
 
Posts: 18 since Feb 2012
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uexkuell View Post

Also of interest:

First MFG(lobal), Now PFG: Who Is Next? | ZeroHedge

Check the list and see where you find RCG through which Mirus is clearing.

I don't know what on Earth to think of that really, when Goldman Sachs Atlas proprietary risk rating is 82, and RCG is 34. PFG was 37 and Credit Suisse is 69

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  #281 (permalink)
 dakine 
Volcano, HI
 
Experience: None
Platform: Ninja
Broker: AMP/CQG
Trading: Futura2000
 
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Posts: 197 since Dec 2009
Thanks: 389 given, 162 received

and AMP is 66 w00t!

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  #282 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 49,965 since Jun 2009
Thanks: 32,433 given, 98,167 received

A message I sent to Eliot Wickersheimer at Mirus Futures:


Big Mike
This is not the first time I've seen Hard Eight (prop firm) mentioned with regards to Mirus. Would you mind clarifying this and your relationship with Hard Eight?

His reply:

Mirus Futures
I saw your comments about Mirus Futures and wanted to let you know that Hard8 does not own any part of Mirus Futures. Hard8 is a Chicago based proprietary trading group that has no interaction with Mirus Futures in any way. Two individuals in Hard8 are also co-owners in a small Chicago based private equity firm. That firm made an investment in a firm formerly known as 7ticks, which was owned by the same parent company as Mirus Futures. Because of this indirect relationship to Mirus Futures, NFA regulation requires that they be listed as “owner only” participants in the company. These individuals have no involvement with the day to day operations of Mirus Futures, and more importantly, Mirus Futures has absolutely no relationship with Hard8 or any other proprietary trading firm.

Mike

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  #283 (permalink)
 Big Mike 
Site Administrator
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  #284 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,135 since Jul 2011
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Glad to hear the good work on keeping fake accounts from vendors away Big Mike. This is one of few sites that moderate this problem. Fake reviews and anecdotes are all over other sites.

In general sad to hear AMP was doing that. Mirus seems to be getting plenty of business based on their good rep and they don't need to resort to pushy tactics with their customer service. But then it seems the futures retail trading world is that much smaller in finding brokers to trust.

I hope Atlas is just some fake organization with proofless "reports" and "ratings" created out of spite from a competitor. Would hate to see historical firms such as RCG or Dorman go under from caught scandals and ponzis.

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  #285 (permalink)
 kronie 
NYC + NY / USA
 
Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
 
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1nfinlty View Post
I don't know what on Earth to think of that really, when Goldman Sachs Atlas proprietary risk rating is 82, and RCG is 34. PFG was 37 and Credit Suisse is 69

could you post a link to the regulatory grading agency report that you are referring to, or whatever other source that those rating come from?

it would make interesting reading,

in fact, what we try to do (to add credibility to our claims) is include the link to the article or source we reference, when we make such claims, otherwise they are (such claims) are just opinions....

hey, due diligence requires that us speculators, speculate on facts, not, well, to be polite .....

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  #286 (permalink)
 kronie 
NYC + NY / USA
 
Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
 
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Posts: 798 since Oct 2009


Big Mike View Post
Moderator Notice
Moderator Notice



Mike


good job Mike,

Those guys were caught on other sites doing something similar, or were suspected of such,

either way, that's some business model,

where they treat their intended customer base as idiots, incapable of higher rationale thought, and incapable of forming alliances (such as these threads and forums) to protect other traders.... from such abuse.

NYC is filled, as well as Chicago, with desperate losers forming companies and acting in a similar manner....

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  #287 (permalink)
Lisyara
Kiev, Ukraine
 
 
Posts: 5 since Jul 2012
Thanks: 1 given, 2 received

My two cents, dear ladies and gentlemen,

Just opened an account with Mirus/Dorman, two days of trading so far, so good. Data stream is almost 100% stable, commissions are very low and customer rep is always there to help. I am an overseas client using a legal entity the process of submitting documents was quite cumbersome, but Mirus took time explaining everything, collecting the stuff and passing it on to Dorman, I didnt even talk to anyone from Dorman.

So, no complains. Using free Lite NT version, just ordered license for the full version, and even here Mirus lady is there to help checking in if the guys got the payment from me. Hope they will keep my funds segregated from the hands of dirty crooks.

Profits to all of us!

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  #288 (permalink)
 dmh24 
Denver, CO
 
Experience: Advanced
Platform: SierraChart
Broker: Optimus, Rithmic
Trading: ES
 
Posts: 67 since Sep 2011
Thanks: 6 given, 34 received

I switched from AMP to Mirus clearing through RCG at the beginning of the year and it's been fine so far. Mirus customer service is very responsive and polite. The only issue I have had was when I wired funds to fund the new account, no one seemed to notice until I brought it to their attention. But once I did, they had the new account ready to go in a matter of minutes. Mirus also has good flat rate commissions including unpopular instruments like M6E as well.

Not really related to Mirus, but RCG's websites for statements (Archive/passport) are pretty basic and remind me of websites in 1999, but they do work fine.

I see RCG second to last in this list by Atlas and don't know if its worth being concerned about? Dorman is higher in this magical list, so maybe it would be worth considering switching

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  #289 (permalink)
 itrade2win 
New York
 
Experience: Intermediate
Platform: Sierra Charts, TOS
Trading: E-mini S&P 500
 
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Thanks: 447 given, 437 received


dmh24 View Post
I switched from AMP to Mirus clearing through RCG at the beginning of the year and it's been fine so far. Mirus customer service is very responsive and polite. The only issue I have had was when I wired funds to fund the new account, no one seemed to notice until I brought it to their attention. But once I did, they had the new account ready to go in a matter of minutes. Mirus also has good flat rate commissions including unpopular instruments like M6E as well.

Not really related to Mirus, but RCG's websites for statements (Archive/passport) are pretty basic and remind me of websites in 1999, but they do work fine.

I see RCG second to last in this list by Atlas and don't know if its worth being concerned about? Dorman is higher in this magical list, so maybe it would be worth considering switching

I just opened an account with Mirus & Dorman this week. It was an easy online application and they send you an application to transfer funds from current broker to Dorman.

I have had no problems with my current broker, but found some disturbing past information and I felt Zen-Fire is a better date provider.

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  #290 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
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Trading: Futures & Crypto
 
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dmh24 View Post
I see RCG second to last in this list by Atlas and don't know if its worth being concerned about? Dorman is higher in this magical list, so maybe it would be worth considering switching

Atlas discussion thread:


Basically, I wouldn't worry about Atlas ratings at all.

Mike

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  #291 (permalink)
 dmh24 
Denver, CO
 
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itrade2win View Post
I just opened an account with Mirus & Dorman this week. It was an easy online application and they send you an application to transfer funds from current broker to Dorman.

I have had no problems with my current broker, but found some disturbing past information and I felt Zen-Fire is a better date provider.

which broker did you move from?? if you do not mind saying

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  #292 (permalink)
 itrade2win 
New York
 
Experience: Intermediate
Platform: Sierra Charts, TOS
Trading: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 447 given, 437 received

Velocity

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  #293 (permalink)
 ThatManFromTexas 
Houston,Tx
 
Experience: Advanced
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: TF
 
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Posts: 2,302 since Feb 2010
Thanks: 1,206 given, 4,337 received

I have had an account with Mirus/RCG for 4 years.

The rep was nice, not sure what his name was, haven't had to talk to him since setting up the account.

Had a couple of minor support issues over the 4 years , taken care of by support straight away, very professional and polite.

On two occassions, I had Ninja Trader disconnect problems (non-Mirus related issue). Got through to the order desk immediately to verify positions.

On one occassion, I talked to support at RCG, they handled my request immediately , very courteous and professional.

They said I could use support at Mirus or I could contact them directly.

I have no complaints.

BTW ... the Atlas report ... it's been done to death... one man band trying to raise money for his own account ... in business less than a year... sheesh....

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #294 (permalink)
 itrade2win 
New York
 
Experience: Intermediate
Platform: Sierra Charts, TOS
Trading: E-mini S&P 500
 
Posts: 753 since Aug 2010
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ThatManFromTexas View Post
I have had an account with Mirus/RCG for 4 years.

The rep was nice, not sure what his name was, haven't had to talk to him since setting up the account.

Had a couple of minor support issues over the 4 years , taken care of by support straight away, very professional and polite.

On two occassions, I had Ninja Trader disconnect problems (non-Mirus related issue). Got through to the order desk immediately to verify positions.

On one occassion, I talked to support at RCG, they handled my request immediately , very courteous and professional.

They said I could use support at Mirus or I could contact them directly.

I have no complaints.

BTW ... the Atlas report ... it's been done to death... one man band trying to raise money for his own account ... in business less than a year... sheesh....


What's your opinion on ZF compared to TT

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 ThatManFromTexas 
Houston,Tx
 
Experience: Advanced
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: TF
 
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itrade2win View Post
What's your opinion on ZF compared to TT

@itrade2win

I have never used TT.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #296 (permalink)
 aligator 
Las Vegas, NV
 
Experience: Advanced
Platform: Abacus, Slide Rule, HP-65, Metastock, TOS, NT
Trading: Futures
 
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ThatManFromTexas View Post
I have had an account with Mirus/RCG for 4 years.

Who is the parent company of Mirus and 7tick ?

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  #297 (permalink)
 ThatManFromTexas 
Houston,Tx
 
Experience: Advanced
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: TF
 
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aligator View Post
Who is the parent company of Mirus and 7tick ?

@aligator

@Big Mike can probably answer that better than I can


Big Mike View Post
A message I sent to Eliot Wickersheimer at Mirus Futures:

Big Mike
This is not the first time I've seen Hard Eight (prop firm) mentioned with regards to Mirus. Would you mind clarifying this and your relationship with Hard Eight?


His reply:


Mirus Futures
I saw your comments about Mirus Futures and wanted to let you know that Hard8 does not own any part of Mirus Futures. Hard8 is a Chicago based proprietary trading group that has no interaction with Mirus Futures in any way. Two individuals in Hard8 are also co-owners in a small Chicago based private equity firm. That firm made an investment in a firm formerly known as 7ticks, which was owned by the same parent company as Mirus Futures. Because of this indirect relationship to Mirus Futures, NFA regulation requires that they be listed as “owner only” participants in the company. These individuals have no involvement with the day to day operations of Mirus Futures, and more importantly, Mirus Futures has absolutely no relationship with Hard8 or any other proprietary trading firm.



Mike


I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #298 (permalink)
 steve2222 
Auckland, New Zealand
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP/CQG
Trading: Whatever moves in my timezone
 
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aligator View Post
Who is the parent company of Mirus and 7tick ?

@aligator

Try this and drill down

BASIC Details

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1nfinlty
Melbourne Australia
 
 
Posts: 18 since Feb 2012
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Big Mike View Post
A message I sent to Eliot Wickersheimer at Mirus Futures:



His reply:
I saw your comments about Mirus Futures and wanted to let you know that Hard8 does not own any part of Mirus Futures. Hard8 is a Chicago based proprietary trading group that has no interaction with Mirus Futures in any way. Two individuals in Hard8 are also co-owners in a small Chicago based private equity firm. That firm made an investment in a firm formerly known as 7ticks, which was owned by the same parent company as Mirus Futures. Because of this indirect relationship to Mirus Futures, NFA regulation requires that they be listed as “owner only” participants in the company. These individuals have no involvement with the day to day operations of Mirus Futures, and more importantly, Mirus Futures has absolutely no relationship with Hard8 or any other proprietary trading firm.

Mike

BASIC Details

Look at, IGOR CHERNOMZAV, CALEB FRYER FISHKIN, hard eight guys, they have 10% or more financial interest in MIRUS FUTURES LLC, not just 7ticks.
They are principal approved for MIRUS FUTURES, so I believe mirus is lying.
But that wouldn't be the first time in my experience I used them for years and they always lie.

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  #300 (permalink)
 Big Mike 
Site Administrator
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Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
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@1nfinlty, of course you are entitled to your opinion. Personally, I would never trust AMP given my experience with them.

So I would never trust AMP, and you never Mirus - that is the beauty of choice!

Mike

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