amp review
- Thread starter ballsofgold
- Start date
the fact that you clear using other firms, does this offer additional protection to clients in case of a black swan event. What and were are the consumer risks being with the smaller FCM? I have put in a small amount so far but generally speaking had over 100k with Interactive brokers and slept like a baby.
AMP_Futures
ET Sponsor
AMP is one of the few FCM's today that does not engage in any business other than the processing of trades for Futures and Commodity Customers. We are not dependent on interest income or alternative investments for our profitability - we process electronic futures trades for our customers- it's our business.
What we do not do?
No proprietary trading
No Exchange Floor Trading - Floor Traders Positions Reported to Clearing Firm only every 15 minutes
(Only electronic exchange trades by AMP customers - P/L to the tick)
No exposure to mortgage backed securities
No exposure to European debt
No activity in OTC or Off-Exchange Trading (such as Forex)
No Naked Short Options Selling (Unlimited Risk) by Customers
What we do?
AMP reports its financial position on a daily (by noon CST) and monthly basis to NFA and CFTC.
Mitigate Market Risk/Exposure:
AMP risk controls are marked to the tick and tradable markets are limited to the major liquid markets - no exotic/illiquid instruments.
We take regulation seriously - Our History:
Zero Regulatory Actions against AMP (IB or FCM, since 2005 inception).
AMP Futures: http://www.nfa.futures.org/basicnet/Details.aspx?entityid=YMMH7B93DXI%3d&rn=N
AMP Trading: http://www.nfa.futures.org/basicnet/Details.aspx?entityid=EPGnwkgRmus%3d&rn=N
AMP Clearing: http://www.nfa.futures.org/basicnet/Details.aspx?entityid=k17Ne6qLDo8%3d&rn=N
Size:
AMP is the entire 25th Floor of the LaSalle/Wacker building in Chicago.
AMP 24 hour Help Desk is fully staffed - 15 agents during US trading hours and 4 agents during non-US trading hours.
AMP 24 hour Trade Desk is fully staffed - 4 agents during US trading hours and 2 agents during non-US trading hours.
AMP 24 hour Risk Department is fully staffed - 6 agents during US trading hours and 2 agents during non-US trading hours.
Trading is the business of Risk. We focus very seriously on Risk Management.
Risk Disclosure: There is a risk of loss in trading futures and options. Futures trading is not appropriate for all investors.
PLEASE DO NOT INVEST FUNDS THAT YOU CAN NOT AFFORD TO COMPLETELY LOSE!
What we do not do?
No proprietary trading
No Exchange Floor Trading - Floor Traders Positions Reported to Clearing Firm only every 15 minutes
(Only electronic exchange trades by AMP customers - P/L to the tick)
No exposure to mortgage backed securities
No exposure to European debt
No activity in OTC or Off-Exchange Trading (such as Forex)
No Naked Short Options Selling (Unlimited Risk) by Customers
What we do?
AMP reports its financial position on a daily (by noon CST) and monthly basis to NFA and CFTC.
Mitigate Market Risk/Exposure:
AMP risk controls are marked to the tick and tradable markets are limited to the major liquid markets - no exotic/illiquid instruments.
We take regulation seriously - Our History:
Zero Regulatory Actions against AMP (IB or FCM, since 2005 inception).
AMP Futures: http://www.nfa.futures.org/basicnet/Details.aspx?entityid=YMMH7B93DXI%3d&rn=N
AMP Trading: http://www.nfa.futures.org/basicnet/Details.aspx?entityid=EPGnwkgRmus%3d&rn=N
AMP Clearing: http://www.nfa.futures.org/basicnet/Details.aspx?entityid=k17Ne6qLDo8%3d&rn=N
Size:
AMP is the entire 25th Floor of the LaSalle/Wacker building in Chicago.
AMP 24 hour Help Desk is fully staffed - 15 agents during US trading hours and 4 agents during non-US trading hours.
AMP 24 hour Trade Desk is fully staffed - 4 agents during US trading hours and 2 agents during non-US trading hours.
AMP 24 hour Risk Department is fully staffed - 6 agents during US trading hours and 2 agents during non-US trading hours.
Trading is the business of Risk. We focus very seriously on Risk Management.
Risk Disclosure: There is a risk of loss in trading futures and options. Futures trading is not appropriate for all investors.
PLEASE DO NOT INVEST FUNDS THAT YOU CAN NOT AFFORD TO COMPLETELY LOSE!
Many "retail oriented" futures brokers do not seem to have a clue about spread trading. This is somewhat understandable, in that most of their clients are scalping or day trading or swing trading flat price products. The problem for my clients and the "retailers" is that they tend to treat each leg of a spread as outright flat price risk - without exchange inter and intramarket margin credits. And this can really limit a client's "headroom" with a modest account.
I encourage my own clients to use an FCM that: 1. knows how correctly margin a spread trade and provide an appropriate intraday margin allowance for an exchange-recognized spread combination, 2. the Risk Dept. has made allowances for all available exchange supported spreads in the exchange product suite, 3. is an established Chicago FCM that does not trade on a proprietary basis, and 4. has in place a program that allows you to use a top tier execution platform like CTS or TT on a transactional basis. I tend to mention major Chicago FCMs because they clear big independents and prop firms and commercials and HFs that do quite a bit of spread trading.
While I do not recommend particular firms or vendors, and I do not take any haircuts or income related to clients other than my initial consulting fee - I do have some clients clearing AMP and I have not heard any legitimate complaints with respect to AMP. I personally consider the Big Mike fiasco a bizarre non-trading related sideshow for which I could care less about.
I encourage my own clients to use an FCM that: 1. knows how correctly margin a spread trade and provide an appropriate intraday margin allowance for an exchange-recognized spread combination, 2. the Risk Dept. has made allowances for all available exchange supported spreads in the exchange product suite, 3. is an established Chicago FCM that does not trade on a proprietary basis, and 4. has in place a program that allows you to use a top tier execution platform like CTS or TT on a transactional basis. I tend to mention major Chicago FCMs because they clear big independents and prop firms and commercials and HFs that do quite a bit of spread trading.
While I do not recommend particular firms or vendors, and I do not take any haircuts or income related to clients other than my initial consulting fee - I do have some clients clearing AMP and I have not heard any legitimate complaints with respect to AMP. I personally consider the Big Mike fiasco a bizarre non-trading related sideshow for which I could care less about.
I guess the 80% liquidity rule is put in place bc you are at the mercy of the firm in which the respective contract ultimately clears. Your answer above didnt really adress my question.
but hey, i wantt to give you good feedback. Your client portal is very user friendly and superior to interactive broker in my opinion.
I really hope you guys are able to grow and in time reduce commish..
Dude what are you on about?
If you are a spread trader and want to automate spread execution, xtrader is a superior platform. They are offering traders the ability to trade "professionally" through 2 different pricing mechanisms...although standard commish is too much for multi legged spreads
you.are triviliazing the margins, they offer more day trading leverage amd standard IM for overnight. Span may or may not apply on spreads.
it is pretty simple, stop vandalizing my thread
1. If you actually read my post, you would realize that I am emphasizing spread margining, especially intraday, as a major consideration for would-be spread traders in choosing a clearing firm,
2. I know all about TT - I've been using it since 1997,
3. You've been vandalizing my sponsor thread for quite some time now so bugger off punter.
1) i feel.like.the.incessant nonsense.about spread margining is useless. Most guys who trade futures will have enough margins for IM on outright and speads...even the dumbest of traders and newbies. The entry to play is defined, so either you pay to play or gtfo
2) i know u know about tt but not when it comes to spark spreads. Point is amp offers a top.platform so what is your pioint in regards to this broker?
3) not.vandalzazing.but revealing your lies to gain new clients...eithrway my responses in your thread were theme related. If you post here please stick with theme, your opinions are welcomed!
Been with AMP 1 year now, Moved to them after the "Mirus/Zentrader" fiasco. I have nothing but GOOD to say about them, Excellent service, Could not be happier !