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Those of you who are considering other indices besides ES, and those who have stopped trading the TF, may consider the Mini Nikkei 225 that trades in Japan. Trading: 7pm - 1:10AM CST-Chicago time then after hours - re-opens at 2:30am - until 12:55PM …
If you load the 5 minute chart, how far back does your data go? You probably have to tweak the chart settings to load the maximum amount of data, because a default chart load probably is for a few days or something like that. But I don't use MC so I wouldn't know.
MC.Net demo - The farthest back I can chart (1M, 5M or 1H) is the open of 3/21/2016 Sierra Chart (WebAPI - I assume the FIX API is the same?) - is midnight of 3/10/2016 (same timeframes as above).
Just wanted to update you on my email exchange with AMP. They have clarified their pricing structure to me via email. Here is the email exchange that happened. Blue is me, Red is AMP. They seemed to be first saying that they will match 80 yen flat rate, and then when I pressed them about volume tiers, they then switched to say that they can match IB. But anyway, glad to have this cleared up. In short, if you are trading through AMP, you can ask them to match IB's rates. If you are a low volume trader, ask them to go 80 yen roundtrip. If you are a high volume trader, ask them to match IB's volume tiered pricing structure. You will have to provide $10K initial funding either way, however.
Hi,
I am a customer of Interactive Brokers, and I am wondering if you
would be able to match Interactive Brokers' commissions for the Nikkei
225 Mini (Osaka Exchange). Your website states: "We will MATCH or
BEAT any Written Commission Quote!"
Here is a link to the Interactive Brokers futures commissions page:
As can be seen, the Nikkei 225 Mini commission per side is just 40 Yen
(currently about 37 cents). Would you be able to match 40 Yen (all
included) per side?
Yes, we did exactly match interactive brokers commissions for the mini Nikkei - without charging any inactivity fees or having any monthly volume requirements. Just like IB, if you find your account with the least $10,000 - it will be ¥40 per side.
I see you have a new AMP account number. We look forward to supporting you reach your trading goals!
add only 0.25 commission if less than 10K
Hi,
IB's commission is not dependent on account balance. IB's commission is maximum at 40 yen each side. It gets even lower as you increase volume. Can you match IB's commission to be maximum at 40 yen and lower as you increase volume? I am charged a maximum of 40 yen each way currently at IB.
Thanks.
IBs minimum account balance is $10'000 - this is their general rule.
do you have a current account at IB or comparing?
Hi,
Yes, I currently have an IB account. The account minimum to activate was $10K. However, there is no account balance minimum following account activation, as long as there is something in there to cover your monthly fees. The $10K amount is actually a deposit minimum to activate, and is not equivalent to minimum account balance to maintain the live account or to achieve those commission rates.
As I showed earlier, commission at IB is maxed out at 80 yen roundtrip, period. This is an all inclusive maximum fee, and as you go up in volume, the commission is reduced appropriately. This is for all account types and all account balances, regardless of whether I have $2K in my account or $2 million. Adding $0.25 each way is absolutely unacceptable for an instrument with such a small contract value. We are talking about a roughly 70% increase in commission costs here. That is a massive cost increase.
If I activate my account with AMP and provide sufficient cash to cover margin requirements for the Nikkei 225 Mini, AMP should be able to match IB's commission as per your guarantee that you will match any written commission. Is this reasonable, or is this something that AMP will not be able to match?
Thank you.
yes, we are the same > if you initially deposit at least $10'000 we set your pricing to AMP Flat - I will set your account to AMP Flat pricing now, regardless of your account balance.
Happy Trading!
Thank you for your response. What about increase in volume? 80 yen is the maximum that IB charges, and the commission gets even lower as the volume increases. Would you be able to exactly match IB's tiered commission?
you understand the difference on how IB quotes their pricing between the 2 options? FLAT includes all fees vs Tiered is Commissions + exchange and regulatory Fees
And the Volume Tiered they require 10 mini Nikkei to equal 1 contract of volume > so the 1st volume tier reduction is actually after 10'000 min
IB's Notes: For the purpose of determining the monthly volume tier, each mini future contract will count as 1/10 of the volume of one standard size future contract, i.e. for every 10 N225M / MJ / MNTPX / JPNK400 futures contracts traded, the monthly volume will increase by 1.
So yes, if you trade 10'000 N225M per month we will match the IB volume tiers and reduce the cost by 7 YEN.
Good to see you got this sorted out to your staisfaction. I will be interested in your updates as to your experience with trading the mini contract.
I think AMP's last response in red is very important. I found I had to read the IB pages several times to properly understand the implications of Fixed vs Tiered and the discovering the 10x volume multiplier on this mini contract.
I do find AMP's pricing structure much more straight forward to follow.
For me it is not really an issue as I always have more than $10k in my AMP account and I cannot foresee me trading anywhere enough volume of the miniNikkei per month to get to IB's next tier down.
The post above of mine and the one before it by mangolassi are a continuation of a discussion that got started in another thread that was not specifically about the miniNikkei, so the points raised risked getting buried there.
I am a huge advocate of trading the Nikkei 225 Mini (on the Osaka Securities Exchange) if you have a small account. One tick is only 500 yen about $4.50). It is highly liquid, with daily volume sometimes surpassing the ES. It trades from 9AM to 3:15PM …
Indeed, IB's minimum deposit requirement is $10K - but that is to activate the account (of course if you are 25 years old or younger, it is only $3K). You can trade on margin as long you have a minimum of $2K in your account. AMP has, in email, …
For me it is incredible - there is still a lot of people who want to deal with AMP.They act against this forum,against many traders,they put people in court when someone say anything bad about them - and people still whant give them money.Impressive
