Clarification of AMP's $1,000 subscription pricing model

Discussion in 'Retail Brokers' started by J.P., May 11, 2016.

  1. AMP_Futures

    AMP_Futures ET Sponsor

    If your account balance is less than $10'000, The $1k annual subscription - reduces the commissions by at least $0.25 per contract. So you will get the same pricing as if your account balance is greater than $10'000 - AMP Flat pricing: https://portal.ampclearing.com/account/commissionquote.aspx
     
    #11     May 16, 2016
  2. I compute the AMP rate at $1.68 for at least 2000 trades and $1.43 for 4000 trades.
    With a fixed-price deal, you must divide by the volume to come to a per-trade amount.
     
    #12     May 16, 2016
  3. AMP_Futures

    AMP_Futures ET Sponsor

    Please use the AMP cost calculator for exact cost - AMP has 60+ trading platforms - each has their own separate cost, so can not just say $1.68 or $1.43....even though this pricing is universal across all available trading platform.

    https://portal.ampclearing.com/account/commissionquote.aspx
     
    #13     May 16, 2016
  4. J.P.

    J.P.

    The issue is this:

    Your site states, "Pay 1-Time $1'000 Annual Fee and you get Unlimited Commission FREE trades for 1 Full Year."

    However, you are actually charging an additional $1 per-contract round turn commission!
     
    #14     May 17, 2016
  5. AMP_Futures

    AMP_Futures ET Sponsor

    No, there is no additional commissions. All Commissions and Fees included in AMP Cost Calc.

    https://portal.ampclearing.com/account/commissionquote.aspx

    Here is an explanation of AMP's Current 3 Pricing Options:

    1) AMP Flat - Account Min. $10'000 - lowest default pricing rate
    2) AMP Tiered - if account less than $10'000 = AMP Flat + $0.25 commissions with volume tiers
    3) $1K - Annual Fee - No Account Minimums = AMP Flat. This will be good for active customers that have less than $10'000 account balance.

    If you have any specific questions, please PM or email trading@ampfutures.com
     
    #15     May 17, 2016
  6. J.P.

    J.P.

    This thread keeps going off on tangents and that's disconcerting.

    Here are the facts:
    For ES futures trades, for all brokers, there's the standard $0.40 clearing fee,
    there's the $0.77 exchange fee,
    and there's the $0.01 regulatory fee, totaling $1.18 per side.

    The AMP site states, "Pay 1-Time $1'000 Annual Fee and you get Unlimited Commission FREE trades for 1 Full Year."

    However, AMP is actually charging $1.68 per side, which is an additional $1 per-contract round turn commission!

    I'm neither talking about your Cost Calculator nor your explanation of your pricing options, and I'm not talking about any possible additional platform fees; I'm referring to AMP's advertised charges versus AMP's actual charges. Again, AMP is advertising, "Pay 1-Time $1'000 Annual Fee and you get Unlimited Commission FREE trades for 1 Full Year." So how can you state that if you are charging $1.68 per ES side, which is an additional round-turn $1 commission per-contract?

    To be succinct,

    IF you advertise "Commission FREE trades"
    AND you are charging more than $1.18 per side for an ES contract,
    THEN you are charging a commission,
    AND therefore you are untruthful as you are not providing those "Unlimited Commission FREE trades"
    END IF.

    And you don't have to do this. You are already offering deeply discounted commissions along with other good benefits which, all totaled, seem like a pretty good deal. So stop the specious advertising, fess up and come clean; you'll feel better and it will eliminate the need to endure threads like this, which I find particularly distasteful.
     
    #16     May 18, 2016
    Darior likes this.
  7. @J.P. I do not see the point of this argument. It is up to the broker to define what "commission" is. Maybe it includes clearing, maybe it doesn't. We can't really dictate how they advertise, can we?

    It clearly gives a easy to use and compare quote for net cost. I see no deception there. Yes, as you have pointed out, they maybe could clarify this a bit more. But nothing to keep arguing about it here
     
    #17     May 18, 2016
  8. AMP_Futures

    AMP_Futures ET Sponsor

    Thank you for your feedback. This is exactly what prompted us to create the AMP exact cost calculator years ago...so our customers will know the exact total cost they will see on their statements.

    Every brokerage labels their charges differently...so the total cost is the bottom line regardless of what it is called.
     
    #18     May 18, 2016
  9. All I want to know is this:
    Does the $1.68 per side include the clearing fee and the exchange fee ?

    If not, the the TOTAL per-side cost is $1.68 + $1.17 = $2.85
     
    #19     May 19, 2016
  10. Your answer
    I am unsubscribing from this thread. Apparently reading English and clicking through a few options are too hard
     
    #20     May 19, 2016