AMP Global Clearing ES Fees

[xioxxio 10]

Hi,

 

What does it cost for a round trip with the above broker, I am thinking of switching from IB?

 

Thanks

[khamore1 10]

No matter what is the commissions of other brokers DON’T use AMP they are outright thieves at the end you’re going to lose having a broker like them

[bakrob99 11]

No matter what is the commissions of other brokers DON’T use AMP they are outright thieves at the end you’re going to lose having a broker like them

 

Can you supply some details to backup your claim? How could they be "thieves"? Was your experience based on placing orders with them electronically?

[Hugh Morris 10]

I used them 2-3 years ago...at the time it was $4.80 round trip per contract.

 

I see on their website they say on the home page that they will match or beat any written commission quote (for Ninjatrader, at least).

 

No matter what is the commissions of other brokers DON’T use AMP they are outright thieves at the end you’re going to lose having a broker like them

 

Please elaborate. I would have had nothing bad to say at all about AMP so I am interested to hear your experience.

[electroniclocal 10]

I've had nothing but good experiences with AMP, and with IB for that matter. Making gratuitous unsupported defamitory statements about someone is both useless and a reflection more on the maker of such claims thatn the absent person it's made about.

 

AMP costs can be found on their website. And they now support MultiCharts with both CQG and Zenfire.

 

EL

[bakrob99 11]

Thanks for the update EL. I am considering opening an additional account with them.

[Java Trader 10]

I was just on AMP's site earlier today for tech support... they recently adjusted their commission rates to become the cheapest NinjaTrader broker. When I asked a broker about this (read: evidence), he told me about the Exact Cost Calculator (AMP Cost Calculator) that allows you to select any of their available platforms (apparently they now have Market Delta, Multicharts, and even my favorite Trade Navigator).

[bakrob99 11]

I was just on AMP's site earlier today for tech support... they recently adjusted their commission rates to become the cheapest NinjaTrader broker. When I asked a broker about this (read: evidence), he told me about the Exact Cost Calculator (AMP Cost Calculator) that allows you to select any of their available platforms (apparently they now have Market Delta, Multicharts, and even my favorite Trade Navigator).

 

That's a great resource and provides very competitive rates. Thanks for the heads up.

[TheDude 10]

Looking at the AMP cost calculator I'd avoid if my assumptions are correct:

 

They seem to charge for data on your trading platform. You should never have to pay for this as data should be covered in your exchange charges. They seem to charge for Eurex data in this example. You should only pay for data on an application that has no execution ability - such as a charting platform.

 

Also, why would you feed a trading platform with a 3rd party data feed (CQG or Zenfire)? Thats just more latency. I appreciate were not HFT here, but data direct from the exchange via a trading platform will always be faster and perhaps more accurate than data thats got a few more hops in it. The last thing you need it to be hitting that offer, just to see your order join the queue. Same for cancels - when you hit pull and find you're filled.

 

deepdiscounttrading.com may look shabby from the website, but they offer as good rates as AMP, if not better and a wider selection of platforms. They also cater for professional/high volume traders. Dont be put off by the web site. They use Crosslands as their FCM

 

Velocity Fututres is a broker I would strike off any potential list. I had an account with them some time ago. I'd find my positions were often incorrect, I'd have contracts placed in my account I never traded, my P&L was sometimes wrong. They'd always correct the problems fairly quickly but they shouldnt have happened in the first place. Especially when they happened on more than one occasion on the same day!!

 

Velocity staff I also found to be extremely rude, and on one occasion, dishonest (over a fairly trivial point).