AMP clearing fee

Hello,no not liquidation.
My suspicion is that its a fee.
Overnight seems to have an account with AMP and is not being charged this fee.

The header on my statement says "AMP Global Clearing"

Still dont understand why I am being charged this fee, no response from AMP yet also.
 
Okay got a response from AMP.

"
The clearing fee is the clearing fee that AMP charges you to clear your trades. You must go through a clearing house or FCM, a Futures Clearing Merchant, whenever you trade futures.
AMP is an FCM, so that is the clearing fee we are charging you to clear your trades.
"

So now I'm wondering two things:
1. Why does the CME call their fees "Clearing & Trading" fees and AMP is charging clearing fees also?
2. Why doesn't Overnight get charged "Clearing Client" fees also?

Hmmm
 
jayhay said:
Okay got a response from AMP.

"
The clearing fee is the clearing fee that AMP charges you to clear your trades. You must go through a clearing house or FCM, a Futures Clearing Merchant, whenever you trade futures.
AMP is an FCM, so that is the clearing fee we are charging you to clear your trades.
"

So now I'm wondering two things:
1. Why does the CME call their fees "Clearing & Trading" fees and AMP is charging clearing fees also?
2. Why doesn't Overnight get charged "Clearing Client" fees also?

Hmmm
More...

My bad, in a way. On my statement it is called "clearing", not "Clearing Client." The word client threw me off, because it's not something I ever saw so dismissed it in my head.

ampstatement words.JPG
 
jayhay said:
Hello,no not liquidation.
My suspicion is that its a fee.
Overnight seems to have an account with AMP and is not being charged this fee.

The header on my statement says "AMP Global Clearing"

Still dont understand why I am being charged this fee, no response from AMP yet also.
More...

Dude did you read your statement correctly? Screenshot that. I think you're making a fee up.

Exchange (CME)
Nfa
Clearing (amp)
Rithmic or cqg trf
 
Okay so Overnight is being charged too.
So do all brokers change the "clearing fee"?
I'm being charged $1 each way for this, if all brokers charge this fee is it always $1?
 
jayhay said:
Correction sorry, I'm being charged $1 RT for the client clearing fee.
More...

If your total RT per contract matches their commission rate posted on their site for whatever market, I woudln't worry about it.
 
Unfortunately, we see the same thing when we scan other brokers websites...they separate all the fees (some even on completely different pages). They are showing only the "commission" + fees - which in our opinion is not cool. We believe they try to make themselves seem lower to an untrained eye, than the final All-In (all fees included price).

We do not want any confusion or shocking moments when our clients see their statements. We do the math and add up all the fees (for every trading platform/datafeed combination) and provide you the Final All Fees included - total price you will see on your statement

Here is the link to the AMP Exact Cost Calculator: https://portal.ampclearing.com/account/commissionquote.aspx

Yes, if you have any questions about your statement, please do not hesitate to contact our 24-hour customer service team.

Happy Trading!
 
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