My very first experiences, impressions with 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.
Both AMP and CQG answered by email as follows:
CQG:
"we do not have any demo servers in Europe but we can ensure that once you are in set for live trading, you will connect to Europe servers for the best connection.
Kind regards,
Lisa"
AMP:
"AMP | Daniel (AMP)
Aug 23, 8:16 AM CST
Hello, we can only adjust servers for live accounts not demos."and
"AMP | Victor (AMP)
Aug 23, 9:47 AM CST
You would need to check this PTMC demo with them directly" So they both confirmed that CQG does not have demo server in Europe only in the USA but when you sign up and fund your live account with AMP (or others) than you will be connected to another CQG server in Europe (if you are in Europe). But unfortunately the SIMULATION mode is not yet available in PTMC so that you cannot demo/practice with live account in PTMC for the present. I cannot wait the simulation mode to be developed and released. :) :(
In addition to this, a CQG employee also confirmed all this on a forum as per follows:
If you are located in Frankfurt, the client connection will
use our hosts in London. Once the client has connected to our London hosts, the data and trades will occur within the CQG network and stay local. This is for the live environment only and doesn’t include US markets or trades placed via our demo environment."
@steve, what are you trading with AMP?
Gold and Crude oil standard sizes only. Liquidity of mini and micro is relatively so low and it's dynamic is so hectic that makes those boring, extremely risky a few times a day and offers nearly zero opportunities for intra 5min scalping.
Some say the Russel mini and ES standard are also good for scalping due to their liquidity.
Micro is not profitable in scalping only for the broker... Micro is okay only for longer period strategies and requires thousand times more knowledge, time and work from the trader...
