AMP Futures / AMP Global Review - Reviews of Brokers and Data Feeds | futures io social day trading
futures io futures trading


Notices

AMP Futures / AMP Global Review
Updated: Views / Replies:137,693 / 408
Created: by kalalex Attachments:28

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 28  
 
Thread Tools Search this Thread
 

AMP Futures / AMP Global Review

  #401 (permalink)
Elite Member
los angeles, ca/usa
 
Futures Experience: Intermediate
Platform: Metatrader 5/CQG
Broker/Data: AMP FUTURES/CQG
Favorite Futures: ES
 
Kiks's Avatar
 
Posts: 39 since Oct 2012
Thanks: 74 given, 22 received

AMP's Live server

According to TCPview, my terminal.exe is connected to AMP's ip 76.*.*.*.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Last edited by Kiks; August 30th, 2018 at 09:05 PM.
Reply With Quote
The following user says Thank You to Kiks for this post:
 
  #402 (permalink)
Elite Member
los angeles, ca/usa
 
Futures Experience: Intermediate
Platform: Metatrader 5/CQG
Broker/Data: AMP FUTURES/CQG
Favorite Futures: ES
 
Kiks's Avatar
 
Posts: 39 since Oct 2012
Thanks: 74 given, 22 received

Today's ping tracert to AMP's Live server

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Here is the ping and tracert from my colocated server to that IP address. I do not see any thing above 1 ms.


Last edited by Kiks; August 30th, 2018 at 09:08 PM.
Reply With Quote
 
  #403 (permalink)
Elite Member
los angeles, ca/usa
 
Futures Experience: Intermediate
Platform: Metatrader 5/CQG
Broker/Data: AMP FUTURES/CQG
Favorite Futures: ES
 
Kiks's Avatar
 
Posts: 39 since Oct 2012
Thanks: 74 given, 22 received

Here is a study done on how fast MT5's asynchronous trading really is.


Here is a study done on how fast MT5's asynchronous trading really is. Very impressive.

https://www.mql5.com/en/articles/2635

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



Anyway, I do not think colocation is the problem in this MT5 problem. And certainly not MT5 or my program. In my estimation it is somewhere in their backoffice clearing system that is slowing the process.

That's my honest opinion.

I really wish they look into it.


Last edited by Kiks; August 30th, 2018 at 09:23 PM.
Reply With Quote
 
  #404 (permalink)
Elite Member
los angeles, ca/usa
 
Futures Experience: Intermediate
Platform: Metatrader 5/CQG
Broker/Data: AMP FUTURES/CQG
Favorite Futures: ES
 
Kiks's Avatar
 
Posts: 39 since Oct 2012
Thanks: 74 given, 22 received

Maybe there is something wrong with one of their servers?

Here is the metatrader 5 ecosystem infrastructure. One of these may be slowing down?
Just asking.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
 
  #405 (permalink)
Elite Member
Vienna, Austria
 
Futures Experience: Intermediate
Platform: Sierra Chart, NinjaTrader
Favorite Futures: YM, NQ, ES, 6E
 
Posts: 3 since Apr 2011
Thanks: 0 given, 0 received

Hello traders,

I want switch from Interactive Brokers to a better futures broker and got a question to all the traders sitting in Europe.

How much are your (banking) fees when you wire Euros to your AMP account? I saw on their page that you can send them the amount in EUR, but at what rate do they convert it to USD?

And vice versa... How much does it cost you if you withdraw money from your AMP account that is held in USD? Does AMP send the money in USD or in EUR to your bank bank account? Are there any fees?

Thanks in advance

Reply With Quote
 
  #406 (permalink)
Elite Member
Munich Germany
 
Futures Experience: Intermediate
Platform: NinjaTrader, MetaTrader
Broker/Data: S5
Favorite Futures: DAX, ES
 
MichaelH's Avatar
 
Posts: 52 since Dec 2013
Thanks: 74 given, 42 received


TradeVersion View Post
Hello traders,

I want switch from Interactive Brokers to a better futures broker and got a question to all the traders sitting in Europe.

How much are your (banking) fees when you wire Euros to your AMP account? I saw on their page that you can send them the amount in EUR, but at what rate do they convert it to USD?

And vice versa... How much does it cost you if you withdraw money from your AMP account that is held in USD? Does AMP send the money in USD or in EUR to your bank bank account? Are there any fees?

Thanks in advance

I did open an AMP account in 2015 so maybe the info is outdated and you might wanna verify with AMP first.
Funding the account was free. I funded the account in EUR and this was basically the base currency of the account. So there was no conversion.

If you trade US markets for example a subcurrency is being created, in this case USD. If you run into negativ P/L on USD AMP converts that portion into EUR to clear your USD-P/L from time to time. If you have a positive PL the USD portion stays as it is and you need to request a conversion. In general conversions are done at the current daily spot rate. If you trade EU-markets there might also an USD component for fees.

So that is almost similar to multi-currency accounts on IB.

If you gonna withdraw money from your account you might need to convert the foreign currencies first.
Withdrawals have been charged with 25EUR in my case.

But in any case verify with AMP first because it might have changed in the meanwhile.

Hope that helps


Last edited by MichaelH; September 12th, 2018 at 02:23 PM. Reason: typo
Reply With Quote
The following user says Thank You to MichaelH for this post:
 
  #407 (permalink)
Elite Member
Vienna, Austria
 
Futures Experience: Intermediate
Platform: Sierra Chart, NinjaTrader
Favorite Futures: YM, NQ, ES, 6E
 
Posts: 3 since Apr 2011
Thanks: 0 given, 0 received


MichaelH View Post
I did open an AMP account in 2015 so maybe the info is outdated and you might wanna verify with AMP first.
Funding the account was free. I funded the account in EUR and this was basically the base currency of the account. So there was no conversion.

If you trade US markets for example a subcurrency is being created, in this case USD. If you run into negativ P/L on USD AMP converts that portion into EUR to clear your USD-P/L from time to time. If you have a positive PL the USD portion stays as it is and you need to request a conversion. In general conversions are done at the current daily spot rate. If you trade EU-markets there might also an USD component for fees.

So that is almost similar to multi-currency accounts on IB.

If you gonna withdraw money from your account you might need to convert the foreign currencies first.
Withdrawals have been charged with 25EUR in my case.

But in any case verify with AMP first because it might have changed in the meanwhile.

Hope that helps


Thank you very much!


You stated that there is an ongoing conversion if you fall into negative P/L... how does this affect your account statements? Are they listed there? Can they be easily read?


Can you manually convert EUR to USD on AMP like you can on IB?

Reply With Quote
 
  #408 (permalink)
Elite Member
Munich Germany
 
Futures Experience: Intermediate
Platform: NinjaTrader, MetaTrader
Broker/Data: S5
Favorite Futures: DAX, ES
 
MichaelH's Avatar
 
Posts: 52 since Dec 2013
Thanks: 74 given, 42 received


TradeVersion View Post
Thank you very much!


You stated that there is an ongoing conversion if you fall into negative P/L... how does this affect your account statements? Are they listed there? Can they be easily read?


Can you manually convert EUR to USD on AMP like you can on IB?

Well, of course its listed when a conversion takes place.
Easy to read: hmmm, needs definetly some diving into it but its understandable. They are providing the typical us future broker statements. I can read it, german tax authorities have problems with it. not sure what austria is expecting. Maybe you can ask AMP upfront for an example daily statement to see whats coming.

Manual conversion from EUR to USD should be no problem although i have not done it. You can request conversion via the portal. Usually its done on the same day.

Reply With Quote
 
  #409 (permalink)
Elite Member
Vienna, Austria
 
Futures Experience: Intermediate
Platform: Sierra Chart, NinjaTrader
Favorite Futures: YM, NQ, ES, 6E
 
Posts: 3 since Apr 2011
Thanks: 0 given, 0 received

Once again, thank you very much! I can't wait to send the Austrian tax authorities my tax returns. I also found an entry on the AMP forum that explains the conversion process in further detail:


Quoting 
Explanation of the AMP currency conversion process and requirements:

What is the reason for currency conversions?

AMP has 10 different currencies available for funding a trading account: USD, EUR, GBP, CHF, CAD, AUD, HKD, JPY, NZD, SGD. This allows our customers from around the world deposit in their preferred currency. When a customer deposits in any of these currencies, the account’s “Base Currency” will be the funded currency type.

Trading P&L is always calculated in the currency of the exchange. For example all US exchange traded contracts P&L settles in USD. If a customer funds the trading account in USD and trades only US markets there'll be no currency conversions required, because the account base currency is USD and all the trading P&L is also USD.

If a customer funds the trading account with USD and trades European markets, the account base currency will be USD and the trading P&L will be in EUR. Because the trading P&L is different than the account base currency, on the trade statements - there will be 3 balances displayed on the bottom:

1) USD account balance (base deposit)
2) EUR trading P&L
3) Final USD account balance using an estimated EUR to USD conversion rate

An opposite example:

If a customer funds the trading account with EUR and trades US markets, the account base currency will be EUR and the trading P&L will be and USD. Because the trading P&L is different than the account base currency, on the statements - there will again be 3 balances displayed on the bottom:

1) EUR account balance (base deposit)
2) USD trading P&L
3) Final USD account balance using an estimated USD to EUR conversion rate

These examples will hold true for all 10 available deposit currencies.

When does AMP process currency conversions?

1) Once a month, AMP covers all currency debit balances in our customer accounts, usually during the 3rd full week of the month. For example, if your base account balance in USD is 40,000.00 and your P/L balance in EUR is -10,000.00, AMP will convert an equivalent amount of USD to cover the negative EUR trading P/L. AMP does the conversions at prevailing bank rates for the time of the transaction. You will see these entries detailed on the daily statement as “FX Debit Balance Conversion.” If all currency balances are positive, (base account & trading p/l) there is no currency conversion required.

2) When a customer is withdrawing the account balance. If there is any trading P&L, in a different currency than the base account currency, it will need to be converted before the funds are released. For example, customer is withdrawing account balance. The account base currency is USD, but there were EUREX trades – p/l either positive or negative in EUR, the EUR P&L will need to be converted to USD in order to withdraw the full USD balance.

AMP has customers from over 100 countries around the world, the ability for us to accept multiple currencies for deposit we have found to be very useful for our customers. As always, our customers are the boss of their accounts and full control of all process. At any time our customers can request a currency conversion to any of the 10 available currencies of their choice. We are fully set up to manage multiple currencies per account - and will process any request to set up our customers account currency preferences.


Reply With Quote

Reply



futures io > > > > AMP Futures / AMP Global Review




Upcoming Webinars and Events (4:30PM ET unless noted)
 

Fundraiser: Feeding Families in Need (ends Dec 17)

December
 

Battlestations! Show us your trading desks w/GFF Brokers ($750 in Prizes)

January
 

An Afternoon With Morad Askar (aka FuturesTrader71)

Elite only
 

TBA w/Brett Steenbarger

Elite only
 

Traders Tax Advice w/Ryan Curran CPA

Elite only
 

Black Swan Events w/Adam Grimes

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
WWW.EFUTUREVISION.COM 'Elegant & High Win %--for selective/technical traders...review researcher247 Trading Reviews and Vendors 34 December 5th, 2017 11:30 AM
AMP Futures and Mirus (NinjaTrader Brokerage as of June 30 2014), which one is better owen Reviews of Brokers and Data Feeds 378 January 9th, 2017 01:17 AM
data for S&P futures jsd45 Emini Index Futures Trading 2 March 9th, 2012 02:19 PM
Trade & Hunt Futures Trading Futures Hunter Trading Journals 4 February 21st, 2012 05:29 AM
Stock, Option, Futures & FOREX broker? TonyB Reviews of Brokers and Data Feeds 8 November 16th, 2011 08:39 PM


Tags
6e, account size, algos, amp futures, amp global, average, backfill, bid/ask, breadth, broker, brokers, chat, cl, clearing house, code, commission, cqg, data, data feed, datafeed, delete, delta, dow, ecosystem, elite, email, es, fcm, feedback, futures, gc, historical data, indicator, indicators, information, intraday, jp morgan, jpmorgan, latency, long term, market delta, marketdelta, mirus_futures, multicharts, ninjatrader, nt brokerage, orders, patterns, portfolio, quotes, real time, realtime, research, review, rithmic, search, signals, sp, sp500, statistics, streaming, swing, switch, tradestation, trading, trading futures, trading platforms, universal, update, velocity, velocity futures, volume, vpoc, zenfire, zerohedge

All times are GMT -4. The time now is 02:53 PM. (this page content is cached, log in for real-time version)

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432 WhatsApp Business, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2018-12-16 in 0.17 seconds with 16 queries on phoenix