AMP futures - Question about fees on statements

[JamesL]

$300 margin. That is serious over leveraging. If you account was $3000 and you traded 10 contracts of ES using the full margin it would only take 24 ticks to wipe out your account lol. The ES can move 24 ticks in a heartbeat if there is unscheduled news, which is a certainty if you trade for any period of time. $300 margin on ES, suicidal imo.

You can't trade 10 ES @ 300 margins with only 3k on deposit.

 

[Jarym]

be careful on selecting the $300.00 margins as the commissions go to $3.00 per side for EVERYTHING you trade... even contracts that are not covered by the $300.00

I'm in the process of signing up for AMP (current broker is IB). The original post seems a little old - the AMP margins are now $400 (at least for ES).

Does anyone know if the charges listed on the cost calculator at http://www.ampfutures.com/Cost_Calc.html are complete and accurate or whether we should be factoring something additional in?

 

[borsaci]

I'm in the process of signing up for AMP (current broker is IB). The original post seems a little old - the AMP margins are now $400 (at least for ES).

Does anyone know if the charges listed on the cost calculator at http://www.ampfutures.com/Cost_Calc.html are complete and accurate or whether we should be factoring something additional in?

Same here since IB shutdown the IRA futures trading... I'm looking to use AMP. Any clarification would be good, thanks.

 

[AMP_Futures]

The AMP Cost Calculator is accurate: https://portal.ampclearing.com/account/commissionquote.aspx

 

[Jarym]

The AMP Cost Calculator is accurate: https://portal.ampclearing.com/account/commissionquote.aspx

Thanks for the clarification our application is with your new accounts team.

 

[Futures Track]

I have an account with AMP and will probably change if I start to trade more seriously. I'm not sure if this is the best I can do, but this is my cost breakdown for a recent NQ trade (a total of $5.52 RT).

Exchange 2.30

NFA 0.02

Clearing 1.00

CQG TRF 0.20

Commission 2.00

NinjaTrader (Clears through Dorman) gave me this quote:
Exchange: 2.32
NFA: 0.02
Commission: 1.46
for a RT of 3.78

Intraday margins for TF, ES, NQ, and YM are $500 which is quite good I think.

Anyone using NinjaTrader?

Thanks.

 

[AMP_Futures]

Here is AMP rates: https://portal.ampclearing.com/account/commissionquote.aspx

AMP is cheaper.

Not sure if you are clearing AMP via one of our IBs....which they set their own rates.

 

[trader79]

After a very long time I placed some trades in my account with AMP and I am shocked to see the commissions. I was charged $10.12 for R/T per contract for Crude Oil trade.
I use Ninjatrader.
Wondering if anybody knows why.

 

[Futures Track]

You can probably do better. Talk to your introducing broker if you have one. Otherwise talk to AMP. Compare other brokers.

 

[trader79]

Ok I got the issue resolved.
I don't remember doing it but I was told by AMP that I selected $300 margins and that is why I was charged $10 for r/t.
Its back to $4.62 for r/t.