So Lets go through what many people need a bit of guidance on. Choosing the right broker. Now there are lots out there. For the sake of futures trading lets take a look at AMP futures and see what it has to offer. I chose to have a setup instead of one broker. Ill go over that in a second. My buddy Paul decided to o with AMP and has had pretty good things to say. And lets face it, 400 dollar day trading margins are hard to pass up. Noe remember more margin equals more risk. So trade carefully! Don’t get all crazy and blow your account trading 10 contracts on a shitty strategy.
As I mentioned earlier, I use a setup. I use TOS ( Think or Swim ) charts and AMP futures as my clearing broker. I do this because frankly I love TOS charts and they have some indicators that are only exclusive to TD Ameritrade. Who by the way owns Think or swim. Most people do this. You take bits and pieces of what you like and go for the gold. TOS margins are 5,500 for day trading margin on futures. AMP has 400 and they are also offering 300 dollar margin as an exclusive offer. I’m not sure how long that will last so check it out for yourself. The commission rate for AMP is 2.04 per side per contract. Compare that to TOS at 3.19 per side per contract. Cost adds up so as traders we need to be conscious of that.
Now that we have margins and cost out of the way, lets see what I like about AMP. First and foremost I love the selection of platforms they have. From sierra charts to CQGM. I chose CQGM because they are web based on the cloud and also I can trade through mobile devices which is great for me! The CQGM platform is easy and quick to navigate. It has all the essentials without the clutter. I have my big screen up with TOS charting and CQGM on my laptop screen placing trades. Clean and simple.
There isn’t too much complexity to what a .person can like and not like. But lets take a look at some of the cons that kind of bug me. I don’t enjoy the dashboard on the AMP portal. Its like going back to the first days of the computer. Very basic and navigating certain functions can be a pain. TOS has an amazing website and everything is easy to navigate through and find. I have not had any issues with customer service with AMP either. That seems to be a common complaint. So far so good!
So if your looking for a good broker with no frills than AMP is your answer. You have low costs, a vast array of platforms to choose from and really good data. I will. do another review down the road to see if things are still as good as they are now. Fingers crossed! So if you need the best setup, I would go with TOS charts and AMP as your broker. Do your own research and find what works best for you.