Amp Futures or Mirus

Discussion in 'Retail Brokers' started by asdfghj7, Mar 11, 2008.

  1. I want to use Ninjatrader with the Zen-Fire data feed. Both of these brokerages offer them. I would appreciate any advice as to which one to choose and/or which one to avoid.
  2. also


    Cannontrading (not sure 100% if Zenfire)
  3. I was actually thinking of going with proactive , i have an acct with amp though, only because they used to be an IB guaranteed by dorman, now theyre not so theres no point.

    just go for the lowest commish and tell me who gave u the least :D
  4. What advantage you have with a GUARANTEED IB ?
  5. ts888


    AMP accounts still go through Dorman. Your account is technically with Dorman as that's where your statements and 1099 come from.

    please elaborate on what you mean about used to be a guaranteed IB ?
  6. Dorman the FCM is a solid choice too - if you don't need the hand holding of an IB.

    Mirus is good for first level platform technical issues so that you don't have to wait for an answer via email from Ninja Trader - this alone may be a plus for some traders.
  7. On one hand, you have the full faith and financial worthiness of the Guarantor FCM. For the guarantee, accounts can only be offered and opened with the guarantor FCM. On the other hand, it means the IB does not have, or refuses to lock up required funds to be a free-standing IB. As a free-standing IB, arrangements can be made with multiple FCMs for account openings and offerings.

    From a financial point of view, a stand-alone IB *MAY* provide an additional layer of security. If the FCM fails, the IB itself *MAY* be able to make things whole. Not the case with a Guaranteed IB. If the guarantor FCM fails, it's game over.

    There was a time when a Guaranteed IB was a "safer" choice. That is no longer true, IMO.

  8. I would try Mirus over AMP. I'm in the process of moving my account away from AMP. Have had very good experience with Ninja Trader, Zen Fire, and their clearning firm Dorman


    AMP's customer service is quite bad IMO. On the rare occasions I need something, they never follow through and I have to call and pester them multiple times, very frustrating.

    I am not a high volume trader so maybe they don't want to waste time on me. I'm going to see if Mirus suits me better.
  9. Mirus and Pat S. the main principal is top notch and delivers the best support that I have seen in this business and I ran an IB for about 4 years.....they know their stuff and have a competent tech and broker staff....

    I am doing a CTA business now and they are able to cover this managed account and allocation issues better than Man, Fimat or any larger FCM could. These middle tier firms will not have the $$$$$$ that the large firms will have on their balance sheet but in return they will work hard to make you happy and your accounts mean something to them. Man or Fimat or any of the other top 5 firms do not want your business unless you are 100M fund.
  10. Mup


    #10     Mar 31, 2008