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AMP introduce commission free trading for $1000 pa
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AMP introduce commission free trading for $1000 pa

  #1 (permalink)
Just a boy
Auckland, New Zealand
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP/CQG
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AMP introduce commission free trading for $1000 pa

AMP Futures Black Friday Trading Event - Introducing Subscription-based Commission Structure

Interesting idea!

Thoughts?

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  #2 (permalink)
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  #3 (permalink)
Just a boy
Auckland, New Zealand
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP/CQG
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Hi @mattz, as an IB for AMP are www.optimusfutures.com looking at offering this deal as well?

 
  #4 (permalink)
Administrator: Retired Backtester
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Rennes France
 
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sam028's Avatar
 
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Be careful.

AMP is an FCM, the clearing fees and the commission fees goes in the same pockets.
I assume they can remove what they call commission fees and increase what they call the clearing fees.
As all their usual fees are not available on their web site, hard to say if it make sense to blindly spend $1000...

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  #5 (permalink)
Just a boy
Auckland, New Zealand
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP/CQG
Favorite Futures: Whatever moves in my timezone
 
Posts: 1,803 since Sep 2009
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sam028 View Post
Be careful.

AMP is an FCM, the clearing fees and the commission fees goes in the same pockets.
I assume they can remove what they call commission fees and increase what they call the clearing fees.
As all their usual fees are not available on their web site, hard to say if it make sense to blindly spend $1000...

Hi Sam,

I trade via AMP.

For ES I pay $1.67 per side all up. Of this $0.50 per side is the commission - the balance is exchange and NFA fees.

The $0.50 per side compares to NT at $0.53 per side (if you have lifetime licence) and IB at $0.85 per side.

I understand the point you are making about commission/clearing being bundled so I will clarify with AMP that it is the $0.50 ps I would save.

Assuming one traded on 200 days of the year, you would only need to r/t 5 contracts a day to 'breakeven' on this deal (assuming it is indeed $0.50 per side you would save).

Here is the AMP Cost Calculator where you can work out your commission and datafeed and platform costs for different options:
https://portal.ampclearing.com/account/commissionquote.aspx

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  #6 (permalink)
Elite Member
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You dont offer a subscription service unless you are going to make money of it. what this tells me is they are targeting a specific group of traders. My assumption is they are targeting day traders and intermediate term traders. Long term traders would never take this offer.

Lets make this easy and say there is 5 dollar round trip commission. That would be 200 total round trip trades before AMP starts losing money. So, why would they offer it to these two groups?
  • They probably have analysis which shows day traders blow up their accounts before making it to 200 trades
  • intermediate term traders who hold multiple days are unlikely to make more than one trade a day. Keep in mind there are roughly 250 trading days in a year.

IMO this is not a good deal unless you are a seasoned veteran who is trading multiple instruments and knows how to trade.

Robert

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  #7 (permalink)
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