Hi all, I've done all my paper trading using amp (MT5, CQG Desktop) and really like their setup and online support. But now I am ready to fund an account and need to be sure amp is the way to go. I am based in the UK and so my first thoughts are what if; latency issues, slippage/fill speeds, etc? Is there protection for non US traders by a regulatory body, like the FCA in the UK? I am focussed on Crude and wouldn't say I'm an aggressive trader, but still have to be prepared for volatility, especially in the commodity markets. Is there anyone else in the UK, or outside the US with experience of using AMP futures? Paper trading everything ran sweet... going live is a whole new ball game! Thanks
No idea on AMP futures, but you realised UK based firms lowered Oil ( all indexs don't trade oil so ?? ) to 20:1 margin, I get 200:1 Margin via ICMarkets.com Australian based and they've been fine for 6months or so I've been using them, MT5 support aswell. 10x's the amount in my account to trade the same amount, doesn't work for me.
But you are comparing a CFD market with a Futures Market. The spread is higher, and all the ASIC based firms now are moving their euro-based customers to offshore. They will no longer be in Australia.
When you choose to do business on US soil, customers are under NFA and CFTC just like any other US customers. But issues you mentioned could be a result of the internet, your computer, speed of execution, etc are also a result of your infrastructure. As far as CQG/MT5, they will be sent to the USA exchanges via Direct Market Access. However on demos, you are always filled, and this is not the case with real live accounts.
Thanks Matt, But assuming all things being equal; internet, computer, execution etc. are all 100%, would I still be at a disadvantage using a US broker over a UK broker? If trading e.g. crude, which I think I read on CME is traded on the NYMEX, either my UK broker or myself (via a US broker) have to send the trade execution data to New York, so is it more a question of who's got the best infrastructure i.e. me or a UK broker? (Probably the UK broker) If that is the case, might I be better focusing on e.g. Brent or WTI, which I think are traded on the ICE London? Or am I over thinking things...
You are definitely overthinking it. The difference between 100 milliseconds and 500 milliseconds (latency) will not make or break your trade, unless you are HFT. Internet packets move at nearly the speed of light. Packet loss would be the biggest issue there. Assuming you are not an HFT, you should be right as rain.
You should choose an asset based on your ability to trade it, not it's latency. Even as a scalper you have the ability to trade liquid US-based contracts from the UK. Second, are you comapring between your structure and the UK broker? You are not a trading facility, all you have to be sure of is that you have stable and fast internet and a solid computer. Remove as many open programs as possible, and make sure your computer is wired in. I can not say conclusively that a UK broker has an advantage just because he is in your location. Depends who the broker is, his technology and his speed of execution. The same goes for a US broker. When you open the account, place a trade. See the latency and execution because that is the only way to measure speed of your order execution.
I have an AMP futures CQG account which I traded from India. Everything was fine. if my understanding is correct with CQG you will automatically routed to their nearest server and not to the US server directly so your latency should be under control. In my case I think I was connected to their singapore server and my latency was 50 ms instead of 300 ms. (avg latency between India and US) ping api.cqg.com to find out your latency to their nearest CQG server if you are still worried then you should consider VPS in US.
We have thousands of customers, from over 100+ different countries around the world, using AMP's MT5-CQG integration to trade Exchange-Traded Futures. We have very rarely had any customers report any latency concerns. So even the default AMP-MT5-CQG account setup, we are confident you will be able to trade your strategy. If you are truly concerned about latency, we offer a few VPS-Colocation Solutions: 1) AMP Colocation - https://offers.ampfutures.com/colocation-pricing-server-specs-request 2) MT5 VPS - https://www.ampfutures.com/metatrader/trading-platform/vps/ AMP offers our customers multiple pricing options:https://portal.ampclearing.com/account/commissionquote.aspx Here is the link to AMP Margins: https://www.ampfutures.com/trading-info/margins/ For most trading platforms, once live account is funded with minimum of $100 – you will get streaming, continual access to both live and demo. We look forward to supporting you reach your trading goals!
Thanks Matt, I am focus on Crude because of my ability to trade it. I feel most in tune with how it moves and understand the whole supply & demand dynamics. Plus I like, and feel comfortable with its tick values. I am trying to get a more solid understanding of global macro so I can look for opportunities across assets, but felt like I was trying to take on too much too quick (even though I've been at it for 3 years in my spare time). Crude feels like a comfortable place to start, and then expand my knowledge / experience over time by including both positive and negatively correlated assets. The time frames I look at are primarily 15, 30, 1h, and less often 5m. And I would say I'm more of a trend/counter trend trader, so my concerns about latency, fills etc. are probably even more irrelevant. Thanks for your help, this all helps me widen my knowledge.