Margin on the emicro is 50 dollars with AMP and other brokers
My issue about AMP
- Thread starter bugra01
- Start date
Margin on the emicro is 50 dollars with AMP and other brokers
firstly, he was rejected by AMP, so why even mention them
secondly, AMP is $50 day trading margin. If he doesn't close out then he has to pay exchange margins. When opening an account you need to ensure the person can pay the exchange margin from a risk perspective for overnight, rather than relying upon AMP's auto closeout policy.
AMP is one of the most aggressive futures brokers in terms of leverage. What other brokers are offering $50, please do tell? As what someone else wrote above, he has to lie to get the account open and the broker needs to open the account without a minimum deposit.
It's just easier that he open a spread bet account with $500, the indices are 2-3 tics wide. Gold is .30 to .50 cents wide. He can practice with live money as an investment. When he saves up more cash, he can go back to another futures broker.
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Ninja Trader, Tradovate, Infinity Futures, Sierra Broker, Sierra Futures, Edge Clear just to name a few....
The 50$ day trading margin covers all the 24h except for 30 minutes for the price settlement
There are aspects to this:
You just named introducing brokers (IB) that offer $50, not FCMs. I am only aware of AMP being the only FCM that offers $50 day trading. If there are more, then I am unaware, admittedly.
But you are aware that the IB's don't actually clear the account and still need to go through the FCMs kyc process? Again, he is going to have to lie bc likelihood his account will be rejected without lying. And it's not clear if the FCMs that warehouse these IBs have minimum account openings. And guess what - all these IB's are probably using AMP on the basis that they are offering $50. You guys are really killing me here.
Let's say, however, he gets his account open. Then there's the next problem. He is going to kill his account in two trades with that type of leverage. As I mentioned above, once 3% move, he is stopped out. We are talking a few days and he can't trade anymore. Risk tolerance will be blown.
He needs to go through a spread bet account, trade really small - £1 a point. Snp can drop $300 dollars and he is still alive. He has way more room to practice trading.
FCM That clear with 50/100 $ day trading margins:
Gain Capital
Transact Futures (York Business)
AMP
Philip Capital
Dorman Trading
Would you trade 1 lot of mini SP (ES) with 15k in your trading account? No, well then change your business. If YES since 1 micro SP (MES) is 1/10 of the notional value, you can easily trade 1 emicro lot
Gain Capital
Transact Futures (York Business)
AMP
Philip Capital
Dorman Trading
Would you trade 1 lot of mini SP (ES) with 15k in your trading account? No, well then change your business. If YES since 1 micro SP (MES) is 1/10 of the notional value, you can easily trade 1 emicro lot
The threadstarter has like $500 dollars to deposit, did you not read and deduce this? On 1 micro snp, he is stopped out intraday and his account is blown. What are you talking about?
Gain Capital - see snapshot below, it's says 50% of initial which is somewhere around $500
--> Where do you see that Gain does $50 intraday margin?Are you making stuff up?
Transact Futures (York Business)
--> Don't know them, no info on their margin, so can't verify
AMP
--> I still don't know why you are mentioning them, his account was rejected
Dorman Trading
I see an introducing broker to dorman offering $100 for micros but it also says that all open positions will be liquidated if account falls below $500. FAIL
https://tradefutures4less.com/margins/
Philip Capital
-->According to their website, account get's flagged at 50% of initial margin. I think initial margin on micro SNP is around $1000, so he is getting flagged straight away. I doubt his account gets opened. Where do you see that PC does $50 intraday margin?Again are you making stuff up?
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Honestly, I missed that he would starting trading futures with 250$
You wrote:
The threadstarter has like $500 dollars to deposit, did you not read and deduce this? On 1 micro snp, he is stopped out intraday and his account is blown. What are you talking about?
I have to admit that even with $500 is difficult to start trading but is't not impossible
Intraday trading with 8 point stop on MES = $40 loss for each trade
It depends on his trading style. But if he's a scalper, it's diffucult but not impossible
although my advice to him is to start with at least 1500$, maybe involving some friends.
You wrote:
-->According to their website, account get's flagged at 50% of initial margin. I think initial margin on micro SNP is around $1000, so he is getting flagged straight away. I doubt his account gets opened. Where do you see that PC does $50 intraday margin?Again are you making stuff up?
As regard the FCM as you know there are particular agreements between them and an introducing broker
Philip Capital and Dorman Futures have and agreement with Ninja Brokerage and other IB
They have both 50$ of intraday margins, like AMP
P.S.: When you talk to me please be more polite
https://ninjatrader.com/PDF/ninjatrader_futures_contract_details.pdf
You wrote:
The threadstarter has like $500 dollars to deposit, did you not read and deduce this? On 1 micro snp, he is stopped out intraday and his account is blown. What are you talking about?
I have to admit that even with $500 is difficult to start trading but is't not impossible
Intraday trading with 8 point stop on MES = $40 loss for each trade
It depends on his trading style. But if he's a scalper, it's diffucult but not impossible
although my advice to him is to start with at least 1500$, maybe involving some friends.
You wrote:
-->According to their website, account get's flagged at 50% of initial margin. I think initial margin on micro SNP is around $1000, so he is getting flagged straight away. I doubt his account gets opened. Where do you see that PC does $50 intraday margin?Again are you making stuff up?
As regard the FCM as you know there are particular agreements between them and an introducing broker
Philip Capital and Dorman Futures have and agreement with Ninja Brokerage and other IB
They have both 50$ of intraday margins, like AMP
P.S.: When you talk to me please be more polite
https://ninjatrader.com/PDF/ninjatrader_futures_contract_details.pdf
I will be more polite, please accept my apologies. You are much more reasonable and realistic than the other guy, willing to separate fact from fiction.
So again, there are a few aspects to what you wrote above.
$50 intraday margin doesn't mean you get your account open. There are account minimums, risk and client suitability (KYC). Remember he is unemployed.
If Ninja trader also has an agreement with Philip and Dorman, I will take your word for it. But as you saw with the other IB, they had a minimum equity requirement of $500. Does Philip and Dorman have minimum account equities?
Separating the likelihood that he may get his account rejected, let's say he does get his account open. We can at least agree at a very high level that the odds are stacked against him. That's my underlying point. Remember, he is looking to practice. if he gets a demo account with ninja, demo accounts are not the same as real money. He he tries to start with real money, he is likely to blow his account. So he has two options
1.) get more cash
2.) go to a spread bet account
I promise, I am done writing in this thread
Ninja brokerage allows to open an account with $400 and in the advertising they claim to start trading emicros
Of course you don't understand that "all open positions will be liquidated if account falls below $500" regards trading on Emini not e micros
