For those of you who are strictly day traders and are interested in diversifying with FX, Gold or Indices futures ect., here’s a table I made with the current margin rates per contract & leverage @ AMP.
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so for $400 in margin, one can trade $12.50 per point on the S&P?..to trade EURUSD at $12.50/ pip with a CFTC regulated broker requires over 10x that margin…$4,166 in margin. $450 to essentially trade a standard lot of AUDUSD?
I am reading correctly?
1 pip CAD, AUD & NZD = $10 (standard 100,000 FX lot size)
1 pip EUR, CHF & JPY = $12.5
1 pip GBP = $6.25
EUR … 1 contract = $2650 overnight & $663 intraday
S&P Mini… 1 point = $50… $10600 overnight & $400 intraday
-Can you scalp futures, or is this something where you place a position and have to wait it out until the contract expires?
Thanks.
That was my next question…what I love about spot…the freedom to move in and out, add and take away. There are many times when price moves in my favor, I add or goes against me I get out…I also scale in and out of positions…Is this all doable with futures?
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You can scalp futures. You can also use MT5 platform with AMP and offers 14 day demo.
Futures Broker | Day Trading Platforms | AMP Futures | AMP Clearing
You just have to make sure you’re on the most recent contract, but AMP makes it easy to navigate.
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Thanks. So the advantages are basically better leverage and deeper liquidity? Or is this not accurate? Spreads and commissions similar?
Thats is correct. Since its plugged directly via CQG into CME, the trading conditions don’t get any better. There are times that CQG has issues but those are far and few between. Spreads are tight. AMP Commissions are supposedly the cheapest.
Here’s their all in cost calculator. https://portal.ampclearing.com/account/commissionquote.aspx
The micro mini’s are great to trade, decent profits to be made and cheap cost.
For example: Fridays Dow Micro mini (December contract)
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yes you can scalp… and you have the full transparency of seeing the level 2 order book for the entire market.
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Yes, all that is possible… holding 5 contracts… sell 2… still holding 3… add another 4 later
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Do we need to gradually move away from spot forex? It sounds like you guys are doing so already
I haven’t traded spot FX since early 2018, mostly trade indices intraday.
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Here’s a snapshot example of the order book for eur/usd…
1 level deep = 50 contracts (6.3M @ ask) & 48 contracts (6M @ bid)
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No, i still trade spot offshore… but it’s good to have a backup plan.
However, If someone day trades indices they should be trading futures rather than CFDs. The liquidity is significantly higher with futures, which allows a trader to grow and scale their account size into the millions without having to worry about liquidity issues.
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I’ve been trading spot with prop firms MFF,FTMO for two years added 2 more recently and going to add a 5th in January. Diversification is the key, which is why I know two of the posters here are trading multiple porp accounts along with futures on amp. I am going to educate myself on futures as well…no matter what happens elsewhere the stock indices WILL ALWAYS be around.
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What about protection of funds? Forex brokers under NFA/CFTC regulation as everyone knows provide false sense of security as funds are not insured in any way…obviously why most of us trade/traded with the unregulated offshores…better conditions/same(no) protection.
Glanced at amp global site, looks like their Cyprus arm has an “investor compensation fund”, what about the NFA version?
AmpGlobal is for everyone…except US citizens. It offers CFD’s, etc.
Those various instruments that got nuked via DODD FRANK.
US citizens can only use AMP Futures.
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Unlike US FX brokers, futures funds are segregated. After the PFG best mess (similar to FTX shenanigans) the US brokers were forced to electronically report daily balances to the CFTC. TDAmeritrade auto sweeps non margin money to a FDIC insured account. I believe Interactive brokers can manually do it on request. You can also employ the offshore tactic of only holding what is needed @ the broker with the rest being held in your bank account, transferring in/out as needed.
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Yes, I knew that the FX brokers are forced to “report”, however, no insurance on our deposits held at the broker. Is it safe to keep a large sum on margin with a US futures broker or basically the same deal…funds are not protected which as you stated, the workaround is only keep what is required and withdrawal often. Lol, I am very experienced as I mastered it with the offshore(s), but was hoping to not have to do it again, although at least with futures, transfers are ACH/wire, no need to worry about the crypto shenanigans.
Nope, unfortunately the only insurance protection available is on the stock side of things. Large futures traders/hedge funds have separate policies &/or purchase T-bills that brokers will margin up to 85-90% of the face value.
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