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AMP Futures / AMP Global Review

  #441 (permalink)
 redneck4Christ 
Vancouver, WA
 
Experience: Intermediate
Platform: Jigsaw, MC.NET, ToS, SC
Broker: APEX,IronBeam/Rithmic, ToS
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To their credit, AMP resolved the address issue pretty quickly and was responsive by email.

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  #442 (permalink)
 
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 cory 
virginia
 
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redneck4Christ View Post
..rolled an IRA...

very few brokers specialize in handling IRA for future trading. I used to have it with Vison Future I think they are out of business now. Your best bet is to go with InteractiveBrokers.

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  #443 (permalink)
 redneck4Christ 
Vancouver, WA
 
Experience: Intermediate
Platform: Jigsaw, MC.NET, ToS, SC
Broker: APEX,IronBeam/Rithmic, ToS
Trading: Emini ES & CL
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4trading View Post
I assumed BillPay was an eCheck. I was wrong - at least with one of my financial institutions. The bank/credit union just writes a check on my account and physically mails it with snail mail.

I see how BillPay could be convenient for someone that still pays by check, but in the era of electronic payments, it is a bit archaic IMO.

The USPS is not exactly foolproof. My neighbor brings my mail incorrectly delivered to him about 6 to 12 times per year.

"Assumption is the mother of error."

P.S. I recently used BillPay also. Waiting, waiting, waiting...


For many of my utilities and other payees, Billpayer is an eCheck because they have the capability to receive funds electronically. AMP does have that capability but does not facilitate eCheck anywhere close to as well as other places I have used Billpayer or eCheck payment. If I had to pay $30 (AMP's charge for wire transfer) for every bill payment, I couldn't afford very much after paying all my bills.

AMP's ACH method of removing funds from my account seemed to work pretty well. We'll see how well tomorrow when the funds are supposed to be in my account. But, it turns out, their ACH process for funding an account is not quite as good as tying a check to a rock and launching it east (from the Left Coast) with a trebuchet. I think I would have figured out sooner that the trebuchet didn't work and would have spent less time messing with it.

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  #444 (permalink)
 redneck4Christ 
Vancouver, WA
 
Experience: Intermediate
Platform: Jigsaw, MC.NET, ToS, SC
Broker: APEX,IronBeam/Rithmic, ToS
Trading: Emini ES & CL
Posts: 88 since Apr 2019
Thanks Given: 1,032
Thanks Received: 146


cory View Post
very few brokers specialize in handling IRA for future trading. I used to have it with Vison Future I think they are out of business now. Your best bet is to go with InteractiveBrokers.

Mike may scold us for going of topic but I couldn't resist saying I THINK my IRA rollover to a self-directed TD Ameritrade account is going SWIMmingly.

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  #445 (permalink)
 
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 mattz   is a Vendor
 
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cory View Post
very few brokers specialize in handling IRA for future trading. I used to have it with Vison Future I think they are out of business now. Your best bet is to go with InteractiveBrokers.

Most of the time, it's a straight forward process if the broker/FCM has a relationship with the custodian. In our experience, Midland has been great, and they work with most FCMs (including AMP).

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

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.
1 800 771 6748 local 561 367 8686 email [email protected]
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  #446 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
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Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
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redneck4Christ View Post
For many of my utilities and other payees, Billpayer is an eCheck because they have the capability to receive funds electronically. AMP does have that capability but does not facilitate eCheck anywhere close to as well as other places I have used Billpayer or eCheck payment. If I had to pay $30 (AMP's charge for wire transfer) for every bill payment, I couldn't afford very much after paying all my bills.

AMP's ACH method of removing funds from my account seemed to work pretty well. We'll see how well tomorrow when the funds are supposed to be in my account. But, it turns out, their ACH process for funding an account is not quite as good as tying a check to a rock and launching it east (from the Left Coast) with a trebuchet. I think I would have figured out sooner that the trebuchet didn't work and would have spent less time messing with it.

I think Wire In, ACH Out is pretty standard. $30 may be a little high for a wire, but everybody charges $20+

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  #447 (permalink)
 redneck4Christ 
Vancouver, WA
 
Experience: Intermediate
Platform: Jigsaw, MC.NET, ToS, SC
Broker: APEX,IronBeam/Rithmic, ToS
Trading: Emini ES & CL
Posts: 88 since Apr 2019
Thanks Given: 1,032
Thanks Received: 146


SMCJB View Post
I think Wire In, ACH Out is pretty standard. $30 may be a little high for a wire, but everybody charges $20+

I am too new to electronic trading dispute this. TD Ameritrade and Schwab must be exceptions because with both of them, I funded using ACH and was up and trading in a day or two. Application, funding, trading in less than a week vs 6 weeks of fumbles and foibles on both sides (AMP and mine) and account canceled the day before funding was cleared. In my narrow view of the trading land, AMP was the odd funding labyrinth.

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  #448 (permalink)
Kalisto
Geneva, Switzerland
 
Posts: 64 since Dec 2015
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Is it possible to trade concurrently the Sierra Chart and MetaTrader 5 platforms ? Or will one of the two be read-only ?
Ideally, I would like to trade futures from SC but monitor the trades on MT5 where I’ll use a trade copier (mql script) to slave another MT5 CFD account. Can it be achieved ?

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  #449 (permalink)
 
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 mattz   is a Vendor
 
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NapoleonDynamite View Post
Is it possible to trade concurrently the Sierra Chart and MetaTrader 5 platforms ? Or will one of the two be read-only ?
Ideally, I would like to trade futures from SC but monitor the trades on MT5 where I’ll use a trade copier (mql script) to slave another MT5 CFD account. Can it be achieved?

Yes, it is possible to view MT5/Sierra via the same account. But, CQG charges an additional fee for the 2nd user, and additional data feed because you will need different credentials for each machine. However, to the best of my knowledge, you can later between the two while paying one fee (in case you do not need both at the same time).

MT5 could be connected also to a CFD broker, but why would you use a market maker to trade futures or vice versa? (rhetorical question) different quotes and markets (exchange versus a single market maker).

Thanks,
Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of futures results.

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.
1 800 771 6748 local 561 367 8686 email [email protected]
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  #450 (permalink)
 dextrade 
Skokie
 
Experience: Intermediate
Platform: SierraCharts,
Trading: ES, CL, NQ
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I wanted to share my experience this week while working in a pretty volatile market.
During peak times this week, fast moving market, i have noticed that few people i work with had issues with their data feeds and executions using GAIN and other feeds. It is really hard to point the finger at a data provider as there are other variables involved such as individual internet connections, software, hardware setups etc.

What i did want to reiterate is that my setup worked without a flaw, was getting great fills during those resource demanding moments. That really solidified my confidence with my my choices.

Thanks again to Matt at Optimus Futures and their team for helping me choose and streamline my feeds/software.

Jerry
Rithmic (connected to Aurora servers)
RTraderPro
Bookmap
SierraCharts.

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Last Updated on March 22, 2023


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