I will do that AMP. All information is appreciated
Is it worth it to change from an IB to a FCM?
- Thread starter Ruben Haiko
- Start date
I'm not a beginning trader. It was the other way around. I asked them the most basic of questions regarding cross account settings and accessing API for Bitcoin trading. All features that are supposed to be in TT, but AMP blocked (even though you pay full price for the TT licence at AMP) . They didn't even know how that crypto exchanges are themselves brokers. In the end, the TT programmers fixed the problem, even though it was AMP's responsibility.
But how can it be AMP's resposibility ? They are a futures broker. I dont think they offer access to crypto exchanges, that would be news to me.
They don't need to "access" anything. TT has listed some top Crypto exchanges. These are not CME or anything like that. TT has API to access to these exchanges. They got nothing to do with your AMP broker account. AMP disabled this feature, stating "We don't allow access", which is nutty. Anyway, i probably will give AMP a chance again, since the commissions are too attractive, and i use a different platform for my Crypto trading.
No. Again. There is no "supporting" or "gaining access". It's a TT platform feature, competitively separate from AMP as a broker. AMP disabled it, even though you pay for this feature. TT said i was right, and they enabled it just for my account, after they tried to let AMP fix this. Great service from TT btw.
Anyway, i see this a lot when i talk to other retail futures traders. They don't understand how these Crypto exchanges work on a technical level. It's a whole different world.
I understand your perspective, you want to fully use a product you have paid for, with all features. But if you want to trade crypto, wouldnt it be much easier and rational to do this with a broker who actually offers these kind of products, and not with a broker who explicitly offers only futures trading ?
Most platforms offer much more than what most brokers can make use of. Sierra Chart supports Level 3, but not all brokers support this. With most platforms you would be able to trade japanese futures, but many brokers dont offer them. You will always be restricted by what the broker is offering you. The platform sets the infrastructure, but there is no law or obligation that the broker hat to enable all features for every trader. Quite the opposite. Features often have to be deactivated by the broker for regulatory reasons.
I would not overcomplicate this thing. If you want to trade futures, go to a specialized futures broker and use their expertise. Want to trade stocks ? Go to a broker like Lightspeed, this is their domain. And if you want to focus on cryptos, try to get support from a broker/ company that is renowned for their knowledge and service in these kind of markets.
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In Crypto, the exchange is the broker.
CME and ICE have got BTC futures contracts, which you can trade with all futures brokers ( with insane margin requirements). AMP included.
The reason i wanted to use TT is because they have Autospreader and arbitraging the leading Crypto exchanges is a very lucrative trade for me. I currently work with a custom made platform that does just that.
Anyway, i would have liked to be told in advance that the "AMP managed" version of TT would have certain features turned off. If they would offered TT at a discount i would have understood. But this was not the case.
Yes. I mostly arbitrage between the BTC perpetual futures contracts on the Bitmex, Deribit and FTX exchanges. Plus the term contracts on Deribit and Bitmex. BTC futures are mostly in contango, so it's a really good trade.