I am relatively beginner with online trading, nearly a decade ago I had two live accounts: Alpari UK and FXCM but I did blew them in a month as I was completely silly to play with fire as an unprepared amateur, so margin calls ended my game that time (partly the FXCM tricks as well, Alpari ECN was fine).
I will keep it short for now:
After signing up with a dozen FX and/or Futures brokers during the past month to see what broker, platform is for me, finally I ended up exactly where I did not want :D USA broker/server/regulation: AMP
As I have just signed up with them a week ago for live account and demo, but I did not fund the account yet so all I can tell yet is my first impressions:
- AMP does have an unparalleled advantage: Over 60 trading software is compatible with them, including PTMC. Anything and everything works with them and you can choose CQG or Rithmic or TT data feed! (I cannot wait PTMC to add Rithmic). And lots of very expensive software are free with AMP, although the very best one PTMC is not free and it is okay like that, the best stuff in life are never free :) And anyway, if we want a trading platform which is for us (home/retail traders) and not a servant of a broker (conflict of interest), than we better pay for the tool than use a free one from a broker who sonner or later may taylor the software as per their interests if the developer depends on them....
- With AMP unlike with many other brokers, EVERY FEATURES of PTMC works, including Level2 market depth, Order Flow Surface chart (heatmap), volume analysis, scalper etc! This is great. I think it also worked with DirectFX, but not with Lmax or OANDA.
- Do not ever use the live chat on AMP website for any reason! :D They will simply deny accepting the chat or do all the bests to get rid of you in two seconds :D 0/10 points
- But they are really okay when you email them! They simply hate the anonym and time wasting, not efficient web chats! Especially when they feel like you might not became a live customer.
By emails, they quickly and consequently replied to me over 15 times already. I am not saying they are the most helpful out there, but if you know what you want to ask than you will get the answer by email. 6/10 points
- A positive thing that AMP sales team is not harassing you by daily phone calls and emails and repeated "go fund your account" messages, unlike OANDA where I barely could get rid of their daily calls and emails (finally I terminated my live account with Oanda due to this). So from AMP I did not receive even one single marketing or pushy email or call. They simply do not care if you sign up or not :D Much better in this case. :D
- As far as I see their commission is an ALL IN ONE type and relatively low fee, unlike with most other brokers where you need a programmer to get the math done. 2 USD / RT for micros, 3-4 for minis. Not so bad if you take into account the 0 spread.
- Do not expect helpful and pushy guys at AMP or do not ecpect advises and tips, but be prepared what you want.
- Deposit and withdrawal is free from the EU as well, but if you send EUR (and not other currency) they do not accept EURO SEPA payment but some weird format only, so pay by card or ask your bank for info first...
I will keep you posted here later how it goes with AMP in live.