News from AMP /// reduce your trading costs

Discussion in 'Retail Brokers' started by CALLumbus, Feb 2, 2018.

  1. CALLumbus

    CALLumbus

    Hey you all,

    I just had a nice conversation with the owner of AMP futures. Without giving away too many details, I want to share the following info with you:

    1.) He is a very cool guy, with lots of knowledge about the industry and a clear vision which way he wants to go with the company in the future. They have some very interesting stuff in the pipeline and I recommend you to stay tuned and prepared for some great news and innovations from AMP in 2018.

    2.) With volatility picking up again in the stock markets, scalping the ES and NQ for ticks is getting more attractive again. But to become net profitable, it is very important to keep your trading costs as low as possible. With RT fees of >4 US$ you should forget about it.
    For those of you that are looking to get your trading costs down, AMP has a very nice offer that is still valid:
    With the 2K membership, you pay 2,000 USD one time, and you can trade commission free and with reduced clearing fees which results in 2.90 US$ per RT for the ES and NQ (if you trade with CQG feed and Sierra Chart).
    If you like to get even lower, the AMP team can help you to set up a CME IOM (or another) membership. With the combination of the 2K AMP membership and the CME IOM membership, you can then trade the ES and NQ contracts for around 0.75 US$ per contract (all fees included !). This is prop firm level and really perfect for scalpers, spreaders and other shortterm traders.

    Greetings,
    CALLumbus
     
    Last edited by a moderator: Feb 3, 2018
    heispark, jtrader33, KeLo and 2 others like this.
  2. heispark

    heispark

    Sounds interesting.....
     
  3. CALLumbus

    CALLumbus


    Yep, that commission flatrate is a pretty unique offer. Only competitor I know of that has something similar is Tradovate, but the problem is that the Tradovate platform seems to have serious problems in higher volatility/volume/speed markets. It pretty ok for me in normal market conditions, but now that volatility and volume have picked up again in the ES and NQ futures, I have seen some serious slowdowns and lags in the Tradovate DOM.

    Never had similar issues with the TT platform or Sierra chart (with CQG feed), which are all offered by AMP futures.
    Thats one real big advantage with AMP, they have so many available solutions for their clients and will help you to set up exactly what you need, be it regarding the trading platform, exchange memberships or other stuff.
     
    heispark likes this.
  4. KeLo

    KeLo

    BTW, it is $2k/year (not just a one-time payment)

    That is better than their All-in-Cost Calculator shows.
    https://portal.ampclearing.com/account/commissionquote.aspx

    Thanks for keeping us abreast of things CALLumbus. :D
     
    Last edited: Feb 3, 2018
    CALLumbus likes this.
  5. Overnight

    Overnight


    I dunno'...Someone would have to be doing some SERIOUS volume to justify the CME membership cost over reduced fees. Like a LOT.
     
  6. CALLumbus

    CALLumbus

    Overnight, not really that much of volume... it is easy math:
    exchange fee for ES and NQ is 1.18 USD per contract for non-members.
    If you lease the IOM membership you pay only 0.47 per contract (can get even lower if you reach certain volume thresholds).

    So with an IOM membership you save 0.71 USD per contract = 1.42 USD per round turn.

    Leasing price for IOM membership is about 300 USD per month right now.

    300 USD / 1.42 = 211

    --> If you do at least 211 round turns per month, which is about 11 round turns (or 22 contracts) per trading day, an IOM membership will already start to pay off.

    Is 22 contracts per day really such a serious volume ?

    If you do 100 contracts per day, with an IOM membership you save already 1,120 USD per month compared to having no membership.
    Thats saves you 13,440 USD per year, and we are still not talking serious volume.
     
    KeLo and Overnight like this.
  7. Overnight

    Overnight

    Indeed, I did not see the leasing fees...All I saw was the full ownership fee.

    In the context of leasing as per their fee tables it does make sense.

    I stand corrected. :)

    The one thing that really looks like it will suck is all that paperwork and having to prove education, past employment history, criminal history, current bank statements etc. And that $2,000 CME application fee is non-refundable if you are not approved for membership.
     
  8. speedo

    speedo

    Currect IOM membership price is about 40-50k which becomes an asset which you can later sell for market price.
     
  9. Overnight

    Overnight

    Don't make me come over there with a wooden spoon.
     
  10. speedo

    speedo

    :D Only if you are going to make a roux.
     
    #10     Feb 3, 2018