Clarification of AMP's $1,000 subscription pricing model

J

J.P.

I am trying to ascertain the total costs, per ES contract, utilizing AMP's $1,000 per year commission subscription model. I understand there are platform fees. In addition, there would be the standard $0.40 clearing, $0.77 exchange and $0.01 regulatory fees totaling $1.18 per side. But does AMP also add on an additional $0.50 per side supplementary "clearing" fee (or any "trade routing" or other fees)?

In other words, after the subscription and platform fees, is the all-in cost of trading an ES contract at AMP $1.18 per side, $1.68 per side or something else?
 
My understanding is AMP gives the cheapest non-negotiated commission for ES around $1.68 a side all in for accounts having at least $10k, unless you can negotiate lower based on high volume. If the account balance is less than $10k, the commission is quite a bit higher. However, if you prepay that $1k for the year, you still get that $1.68 a side all in, but there is no minimum balance requirement. You have to meet margin still...
 
DarthSidious said:
My understanding is AMP gives the cheapest non-negotiated commission for ES around $1.68 a side all in for accounts having at least $10k, unless you can negotiate lower based on high volume. If the account balance is less than $10k, the commission is quite a bit higher. However, if you prepay that $1k for the year, you still get that $1.68 a side all in, but there is no minimum balance requirement. You have to meet margin still...
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Thanks, but assuming an account balance > 10k, if the $1k is a flat fee that is supposed to cover all commissions for a year, as AMP states, then the further cost should be only an additional $1.18 per side to cover the standard fees that all brokers charge + the cost of the platform, not an extra $0.50 per side commission plus the $1k, as that would seem to defeat the purpose and intent of the $1k per year flat-fee commission rate, which is what AMP is offering.
 
Yes, I understand what you are saying. Truth is, brokers have a wide leeway in representing what cost is what. We don't know, for example, how much of that 50 cent TT demands to execute the trade. They can very well claim that 50 cent as clearing fee or commission. So yes, it is not as straightforward as it could have been. The only obvious "benefit" I see is that you get the standard low commission without having $10k in the account. But then again, I wouldn't pony up $1k upfront if I had less than $10k in the account. I was aware of the offer when they came up with it, and I didn't sign up for it fwiw. It wouldn't have mattered for me so it was easy to decide
 
bluecollar said:
AMP just sent me an email. This is not a good signal
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It seems a very good sign, to me: the email you've quoted appears merely to demonstrate that their compliance people are taking their regulatory obligations seriously and making sure they don't indefinitely send out UBE (unsolicited bulk email) to people who no longer wish to receive it, which would be a breach of US "anti-spamming regulations".
 
J.P. said:
Thanks, but assuming an account balance > 10k, if the $1k is a flat fee that is supposed to cover all commissions for a year, as AMP states, then the further cost should be only an additional $1.18 per side to cover the standard fees that all brokers charge + the cost of the platform, not an extra $0.50 per side commission plus the $1k, as that would seem to defeat the purpose and intent of the $1k per year flat-fee commission rate, which is what AMP is offering.
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If that is the case, that is an excellent deal.
Interactive Brokers would be at $2.02 per side (Tier 1) compared to the $1.68 AMP rate....
this assumes at least 2000 trades per year.
At 4000 trades per year, this would be $1.43 per side for AMP.
Now, that said, AMP still looks good at IB tier 3 (corporate accounts only) where their effective rate for E-mini equity futures goes to $1.97.
 
Yes, Confirmed.

We have over 60+ trading platforms available - this pricing option is universal across all platforms available at AMP. We have Free (NO per contract fees) platforms and we have platforms that have per contract fees (would be in addition to AMP's charges).

You can see the full exact ALL-IN pricing on the AMP Cost Calculator: https://portal.ampclearing.com/account/commissionquote.aspx

Please Note: this was a one-time year end special offer - so if you want to have this pricing enabled, please email trading@ampfutures.com your AMP account number and "EliteTrader - 1K Flat Pricing"
 
AMP_Trading said:
Yes, Confirmed.

We have over 60+ trading platforms available - this pricing option is universal across all platforms available at AMP. We have Free (NO per contract fees) platforms and we have platforms that have per contract fees (would be in addition to AMP's charges).

You can see the full exact ALL-IN pricing on the AMP Cost Calculator: https://portal.ampclearing.com/account/commissionquote.aspx

Please Note: this was a one-time year end special offer - so if you want to have this pricing enabled, please email trading@ampfutures.com your AMP account number and "EliteTrader - 1K Flat Pricing"
More...

With the $1k annual subscription I get $1.68 per ES contract, per side, using that AMP cost calculator. That means AMP is adding another $0.50 per contract, per side, commission in addition to the $0.40 clearing, $0.77 exchange and $0.01 regulatory fees. Which, again, seems to defeat the purpose and intent of the $1k per year flat-fee commission subscription rate. Do I have this right?
 
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