Support Board
Date/Time: Tue, 26 Nov 2024 11:24:42 +0000
[User Discussion] - Amp with TTnet experiances
View Count: 6518
| [2013-10-30 12:38:43] |
| AKR - Posts: 523 |
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I was googling a lot on Amp. Mainly I found one big threat on BigMike´s that was not too good on AMP. As I consider opening an account using SC I would like to know if there are any users around here that could share theire experiances. Regardsing AMP in general, their customer service, reliability, etc as well as regarding to the order routing and data feed over TTnet. So, user discussion ... Thanks a lot, Alex |
| [2013-10-30 12:49:19] |
| User021827 - Posts: 174 |
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hi I have used AMP for a couple of years now and just opened second account to get the TT data and Sierra Chart. Justin at AMP has provided excellent support in getting sierra setup with TT. Also, support at Sierra Chart has been excellent as well. So far , I find Sierra Chart to be superb in every way. I also use CQG at AMP and it has been great as well. They have just rolled out TT and I think it has been as smooth as could possibly be. Sierra Charts and TT is a fast, reliable connection. So far it has been great. My experience at AMP has been very good, and just got better with the addition of TT data and Sierra Charts. |
| [2013-10-30 14:08:22] |
| User16114 - Posts: 153 |
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AMP/TTNet/Sierra Charts excellent in my opinion not sure if the following is an appropriate comment for this thread or not - if not please let me know. if anyone knows a Sierra Chart broker option that provides lower commissions than AMP/TTNet/Sierra I'd like to know! |
| [2013-10-30 14:15:36] |
| AKR - Posts: 523 |
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no you´re welcome to ask of course. but I consider the commissions to be extremely low with amp/ttnet. can hardly imagine even lower. |
| [2013-10-30 14:21:13] |
| AKR - Posts: 523 |
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16114: is it excellent in your opinion because you are with them (for how long?), or because you think it is?
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| [2013-10-30 14:55:43] |
| User16114 - Posts: 153 |
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my experience and history with AMP is identical to AC84847 comments above
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| [2013-10-31 07:09:32] |
| AKR - Posts: 523 |
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This is a statement I received from an FCM offering TT and TTnet.... "it is not the fastest" makes me having some doubt... Since you want FDAX and FESX, that limits you to TTNet, xxxx So, if you do want all those exchanges, you will choose TTNet. It’s not the fastest, but if you’re not running any sort of latency-sensitive algorithms, it should be a great solution |
| [2014-04-17 04:28:46] |
| Futures Operator - Posts: 239 |
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Can any other users share their experiences on Amp/TTNet with Sierra in terms of speed/reliability/connection uptime, and any issues? Are positions held overnight reported correctly? What commission rate do they offer? AKR, did this FCM offer what alternative is 'the fastest'? |
| [2014-04-18 02:00:01] |
| User30720 - Posts: 20 |
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Hi AKR, Are you actually getting charged what the AMP Cost Calculator says for your R/t costs using TT feed? Before seeing your post I had emailed my AMP broker and said to him if I maintain at least $10k in my account will I be charged $2.82 R/t on the ES for the TT/Sierra combo. He has come back and said 'yes' plus 50 cents for commission to give a total of $3.32!!!! This is where AMP let themselves down - the cost calculator site specifically says this calculates a traders TOTAL cost and the notes at the bottom say '... commissions depicted in the table above ...'. I actually asked him this question as I don't have $10k there at present and I noticed my R/t costs on the ES were higher than the volume tiered rates quoted in the cost calculator. It is disappointing to say the least that AMP are mis-leading in this respect. The cost calculator is a good idea, but then they go and stuff it up by being less than truthful about what are the TOTAL R/t costs. |
| [2014-04-18 04:09:24] |
| Sawtooth - Posts: 4120 |
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plus 50 cents for commission to give a total of $3.32
It's actually 50 cents each side, $1.00 round trip, for a total of $3.82 |
| [2014-04-18 04:58:33] |
| User30720 - Posts: 20 |
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Thanks Tom. Is what you have quoted per your actual AMP statements? ie you are on the over $10k flat rate structure using TT Net? I have thought about this some more - my broker said plus 50 cents commission, but I think he actually means plus 50 cents (R/t) for the TT Net clearing fee which appears on my statements (but I am on volume tier structure). The reason I have come to this conclusion is that Commissions CANNOT be excluded from the Cost Calculator as that is the only cost AMP can vary. If you play with the cost calculator with different volume tiers and flat fee alternative but always using TT and Sierra you get different answers, therefore they must be varying the commissions (being the only thing AMP can modify as exchange, NFA and TT clearing fees will all be fixed). This is what leads me to think my AMP broker meant to say it excludes the TT Net clearing fee. But my point is still valid - the Cost Calculator should not exclude anything, or if it does it should be very clear so you can work out the impact. Trading ES via TT/Sierra on the AMP package 3 combo: - I am being charged $4.34 R/t for monthly volume under 1000 contracts - The Cost Calculator says $3.32 for this volume, plus I guess the 50 cents my broker says is missing, equals $3.82 R/t. Still LESS than what they are charging me. - For an account over $10k the Cost Calculator says $2.82 plus the 50 cents my broker says is missing, equals $3.32 R/t. It would be great if someone trading AMP/TT/Sierra could confirm this from their actual AMP statement (maybe yours is Tom if you could just confirm this). Thanks all. |
| [2014-04-18 06:10:18] |
| User30720 - Posts: 20 |
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for one contract of Euro Stoxx50 (FESX) I am charged:
Exchange: EUR 0,60 NFA: USD 0,04 Clearing TTNet: USD 0,50 same FX rate of 1,38 then this would be total EUR 0.99 The cost calculator says: EUR 1,36 Thanks AKR, I have traded FESX as well (for the avoidance of confusion: Sierra/TT/AMP) I was charged exactly what you were by AMP, PLUS a commission of Euro 1.50 R/t (what was your commission?) So my all up R/t cost on FESX in Euro using your conversion rate is Euro 2.49 R/t. But on the Cost Calculator for volume of less than 1000 contracts per month I see Euro 0.93 (or Euro 1.86 R/t) - where did you get your Cost Calculator of Euro 1.36 from? If I add US$0.50 to the Cost Calculator being the amount my AMP broker says is missing I get a revised FESX R/t Cost Calculator cost of Euro 2.22 R/t - still less than what I have been charged on my AMP statements, give or take a cent or two for different FX rates. |
| [2014-04-18 07:03:25] |
| User30720 - Posts: 20 |
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Thats it. No other cost / commissions. I beleive the TTnet 0,50 is AMP´s commission.
AKR, You have a great deal if they are charging you no commissions. See a screen grab of page one of my daily AMP statement which helpfully includes both an FESX and ES trade. You can see in both cases I have been charged US$1.50 for commission on top of the US$0.50 for the TT Clearing fee. |
 AMP Capture.PNG / V - Attached On 2014-04-18 07:02:44 UTC - Size: 50.46 KB - 960 views |
| [2014-04-18 08:29:28] |
| User30720 - Posts: 20 |
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Clearly I will need to have a discussion with AMP on Monday! Here is the same section of my AMP statement. Mine is slightly more confusing because this day had one ES trade and one FESX trade. Unfortunately I cannot find a day where I only traded the Eurex. So there are 3 columns: The first one is headed up Base Currency USD. This is effectively the combined Commissions & Fees of the two trades, all in USD. The second column (middle) is the Comms and Fees in USD for the ES trade. The third column (RHS) is the Comms and Fees for the FESX trades in USD. As you can see there is clearly a row on my statement called 'Commissions' which is separate to the TT Net clearing fee. What was the column heading called on your AMP statement? |
| AMP Capture2.PNG / V - Attached On 2014-04-18 08:29:20 UTC - Size: 17.97 KB - 529 views |
| [2014-04-18 08:38:31] |
| User30720 - Posts: 20 |
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For your sake I hope they don't read this thread:) Be interesting to see if any other traders post over the next few days which might confirm if you are an 'outlier' or is it me. Thanks for your help though. I forgot to say in my last post that my three columns have the same heading names you just mentioned. |
| [2014-04-18 12:33:27] |
| Sawtooth - Posts: 4120 |
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Is what you have quoted per your actual AMP statements? ie you are on the over $10k flat rate structure using TT Net?
I used >10k, and Sierra package 3 since I have a direct Sierra acct and I wouldn't be paying for their pkg 5. The 3.82 figure came verbally, after some questions about the low numbers on the rate calculator. If I hadn't mentioned the calculator's numbers, it would have been 4.80. And the guy I talked to didn't know about the rate calculator. But I am not with AMP. Their lawsuit against Big Mike is a non-starter. Date Time Of Last Edit: 2014-04-18 12:52:26
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