I am looking for a new broker for trading equity index futures. My main requirements are stability, accurate timely quotes and executions, low day trading margins, low fixed monthly expenses, and low commissions. Pretty much in that order. I would also want to be able to paper trade to familiarize myself with the platform, and I would like to be able to back test strategies without knowing Python, C#, C++, etc. if possible. Basic charts would also be helpful - especially a pair chart of two instruments/indexes. I like IB's TWS classic using hot keys. I don't need anything fancy just something stable and fast that allows me to adjust orders quickly before they are sent (and after on occasion). At this point, I don't want to deal with IB's high day trading margins. I am leaning towards AMP or Ninja Trader. Which would you recommend? Or, is there something better for what I need? Thanks for any input.
Unfortunately, if you are not an active NT license holder since before March 2015, you can not use NT at AMP. If you are going to use any of these other 40+ trading platforms, come to AMP: https://www.ampfutures.com/platforms/ Low Margins: https://www.ampfutures.com/trading-info/margins/ Choice of 4 Datafeeds: CQG, TT, Rithmic and/or CTS. AMP offers our customers multiple pricing options: https://portal.ampclearing.com/account/commissionquote.aspx For most trading platforms, once live account is funded with minimum of $100 – you will get streaming, continual access to both live and demo. Here is the link to the online account app: https://application.ampclearing.com/apply/ If you need any assistance, please contact our 24 hour help desk in real-time via Phone or Live CHAT: https://www.ampfutures.com/contact-us/ We look forward to supporting you reach your trading goals!
Thanks for the reply. Which of the 40 platforms would most closely meet my requirements? I used the guide on the website, but almost all of the options remained after I made my choices.
Easy - MultiCharts is well known for their back-testing features: https://www.ampfutures.com/platforms/ampmc-net-free/ Here is more details: https://www.multicharts.com/trading-software/index.php/Precise_Backtesting
Did you make a decision, @Eldredge ? I've narrowed down my options to these two as well. I'd really like to use Ninja, but AMP offers intraday margin for 10 minutes longer at EOD. Ninja is really easy to use and works great for live trading, so I'm sure you like it. On the other hand, it's limited to very few brokers currently (wasn't like that a few years back), so you might be interested in selecting a platform that's offered by multiple brokers. If you want to trade futures, Ninja basically only offer their own brokerage or Interactive Brokers.
Thanks for the input Laissez Faire. I'm getting close to going with AMP. I opened an account, but have not funded it. Ninja looks good, but, as you said, I would have to use them as my broker (trying to avoid IB's high DT margin), and their fees seem a little higher, and their DT margin is a little higher. If you are trading futures, you don't have to be flat for very long with AMP - 45 minutes or so each day, and then over the weekends. I think NT might be the same, but I haven't confirmed with them.
Any ideas on what platform you will be using...? I'm also leaning towards AMP currently. I consider staying with Ninja for charting though (already have a good feed I pay for) and execute from some free software provided by AMP. Most likely Multicharts or Sierra.
I think I am going to send a few bucks to fund my AMP account enough to get real time quotes and experiment a little. I am probably a little atypical - I don't really care about the bells and whistles too much, just want something very stable and fast that allows me to open, modify, and send a trade easily (preferably without using a mouse). I would also like to be able to do some back testing. I'll let you know if I learn anything valuable.
Keep us posted and good luck, @Eldredge. It would be interesting to hear which platform you settle for. Unless Ninja have some specific functionality you want, I think you're better off with AMP. I don't care too much for bells and whistles myself and charts isn't my main framework for analysis, but I do like trading from a chart and having used Ninja for a long time, so I'd like to avoid learning a new platform right now.