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AMP CME charges?
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AMP CME charges?

  #21 (permalink)
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mattz View Post
You do not have to check your account via a trading application with 4 exchanges of the CME Group, rather just go to the FCM's portal to check your balance. So those accounts you do not trade through, you can disable your quotes.

Matt

@mattz

perhaps you can confirm these sentiments:

1) the fees are industry imposed from the exchange, and any account, with an active connection will be charged, whether or not they log in, trade or otherwise. I previously incorrectly stated at which point the decision to charge an account was made.

2) the exchange makes more from their institutional clients, and the retail clients are being charged in a similar manner, irrespective of their cost benefit analysis of trading CME products in contrast / comparison to other exchanges (and their products).


not sure how your firm is speaking, or your customers, but other firms are hearing from, and discussing how this change will inevitably cause many retail customers to reconsider the cost benefits of trading EMinis over other vehicles.


@Ruffcutt, @learning0101, @Sk8ter,

I was informed from my insider contacts, that these discussions are wide spread and wil cause a number of clients to revisit or completely switch over to CBOE options trading and away from CME / CBOT / NYMEX / Eurex products....


Last edited by kronie; February 27th, 2015 at 03:25 PM.
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  #22 (permalink)
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kronie View Post
@mattz

perhaps you can confirm these sentiments:

1) the fees are industry imposed from the exchange, and any account, with an active connection will be charged, whether or not they log in, trade or otherwise. I previously incorrectly stated at which point the decision to charge an account was made.

Yes. If you do not login you do not need an active account.


kronie View Post
2) the exchange makes more from their institutional clients, and the retail clients are being charged in a similar manner, irrespective of their cost benefit analysis of trading CME products in contrast / comparison to other exchanges (and their products).

Pro accounts will be charged X17 per exchange. Retail non pro is $5, Pro $85 per exchange as of $2016, now I belive it is $42 per exchange. Pro rates apply to brokers as well.


kronie View Post
not sure how your firm is speaking, or your customers, but other firms are hearing from, and discussing how this change will inevitably cause many retail customers to reconsider the cost benefits of trading EMinis over other vehicles.
.........

I was informed from my insider contacts, that these discussions are wide spread and wil cause a number of clients to revisit or completely switch over to CBOE options trading and away from CME / CBOT / NYMEX / Eurex products....

Your insiders think that a retail account will move from an instrument like like ES to a totally different instrument because of $5 per month!? What exactly do your insiders do to have such a perspective?

My colleagues have a different perspective.

Matt

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  #23 (permalink)
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@mattz

evidently from their perspective,

all but the high volume traders, not aware of the $5 CME only, or packaged CME discount of $15 for 4 exchanges, will eventually peter away.

simple culling,

you would be surprised how sometimes the slightest slight turns opinions, but then again, he related third hand to me, what evidently was others conclusions....

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  #24 (permalink)
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Any broker that caters to newbies who want $400 margins and opens an account with $2k to trade futures deserves everything they get, including a mass exodus over a $5 fee, which would seem to only make sense because most of the clients are on sim (probably after blowing up their small account due to ridiculous margins).

Seek out a more professional broker that actually sets you up to succeed, and not to fail.

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  #25 (permalink)
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Big Mike View Post
Any broker that caters to newbies who want $400 margins and opens an account with $2k to trade futures deserves everything they get, including a mass exodus over a $5 fee, which would seem to only make sense because most of the clients are on sim (probably after blowing up their small account due to ridiculous margins).

Seek out a more professional broker that actually sets you up to succeed, and not to fail.

Mike

People who overleverage in their trading are fascinated with trading for short period of time and then they they move on.

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  #26 (permalink)
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kronie View Post
@mattz

evidently from their perspective,

all but the high volume traders, not aware of the $5 CME only, or packaged CME discount of $15 for 4 exchanges, will eventually peter away.

.....

I am trying to do the math...
If you pay $50 for a monthly platform ( that is 10 months for the CME emini data)
or $1,000 for a life time license (200 months of CME charge) that is negligible(?)..but the $5 is what going to cause people move away. I see. TGIF

Matt

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  #27 (permalink)
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mattz View Post
I am trying to do the math...
If you pay $50 for a monthly platform ( that is 10 months for the CME emini data)
or $1,000 for a life time license (200 months of CME charge) that is negligible(?)..but the $5 is what going to cause people move away. I see. TGIF

Matt

It's because people trip over dollars to pick up dimes... And I agree... TGIF.

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  #28 (permalink)
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@mattz,

funny how a thread can really touch upon some sore points,

from my perspective this has really been revealing. It sounds like you represent a class act. Evidently, the other brokerage has had a rough time of things on futures.io (formerly BMT). Either way to sunday, this thread has really brought out some interesting points.

@Ruffcut,

wow, seems like there are so many small accounts out there that are not happy. good thing there are other choices out here. Were you aware of the choice to prepay CME annually?, if there is one?

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  #29 (permalink)
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Again


pipandrun View Post
One can choose only one exchange, what i did and then its only 5$ monthly.
You had to fill an application form for that.
http://info.ampfutures.com/cme_nonpro_certification
Even i choosed only one exchange, they nevertheless charged 15$.
They told me, that they have changed it now.
Next month i will see....

So, this month AMP has charged 15 $ again!

It feels like talking to walls.

Will report, how this goes on.....

Waiting, Discipline and Patience Pays!
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  #30 (permalink)
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pipandrun View Post
So, this month AMP has charged 15 $ again!

It feels like talking to walls.

Will report, how this goes on.....


I did a support chat with them a few weeks ago and requested the $5 option.
They took out $5 this month. I suggest chatting with them online and having them verify your setup.


cheers

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