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About AMP Futures, just checked the funding instructions and your funds go to JPMorgan. (see https://www.ampclearing.com/funding_instructions.html)
With the fiasco they're involved in with the Madoff case, I don't trust putting money into a "Customer Segregated Funds" with them.
My account is funded today at AMP, transferred my account from Mirus to AMP. At RCG they where not so happy because they only did the transfer yesterday after doing some strange things at my account (transfer was asked at Friday!). I had a Euro account and they made a euro/dollar conversion just to cover me $30 and then waited another day to do the transfer and covered me for another 25Euro.
I´am using CQG data feed now for 3 days and I´am very happy with it. With zen-fire I had a couple off disconnections a day, it connected right away but it was always scary. With CQG I have not get 1 disconnection until today so very stable. Definitely an improvement over zen-fire.
Just had a civil chat with Matt @ Optimus, and liked him. Among the questions I asked, was who clears for Optimus. He answered Vision Financial. I then Googled Vision, as of course, proprietary trading questions, and co-mingling issues were a warning to all futures traders with MFGlobal etc.
Does your broker do any proprietary trading? When a big position blows up, do they go looking for client funds to bail them out? Serious question, unless you want to wake up one day and discover a much worse scenario than Mirus customers are currently facing.
Sadly, the following, from the CFTC gives me significant pause. You can read it for yourselves.
"CFTC Orders Vision Financial Markets LLC to Pay a $525,000 Penalty for Violations of Customer Fund Segregation Requirements, Failure to Notify the CFTC of its Under-Segregation, and Misstatements to the CFTC"
This is disappointing to say the least. And unfortunately all too clear..
Has AMP had a similar sanctioning? Valid question. I'll be investigating this as well. And so should all of you.
Around the same time 3 major FCMs have received the same fine. Vision is a clearing member of the CME, not a NON clearing member as some FCMs are
Following the MF Global debacle many new issues went into affect an stricter than before. Vision Did everything to adjust. Look at their growth and their capability to survive through MF, PFG and Refco...and maybe more in the future.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Request to futures.io (formerly BMT) members, I am receiving a lot of PMs, but's a bit hard to answer in the small space.
If you can, please email me matt AT Optimusfutures.com
Please put futures.io (formerly BMT) in the subject line to get a priority.
Also, I try and take all call now to assist 561 367 8686 or toll free 800 771 6748
Matt
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Has anyone got their Continuum connection up with Mirus live yet? I got the mails for the move to Kinetic/Cont yesterday and did all the steps now I am in the dark and of course cannot get an answer. Anyone make it further than me?
Well since we are talking about Vision I'm going to post this testimonial in here. I've been with them for three days now. I probably should be posting this in the broker thread but I wanted to point out the significant advantages that go along with having a good broker / platform. I'm sorry Mike if this is out of context. This happened on Vision through Optimus.
This morning I had a buy limit order in GC @ 1223.3, right on a support level. The market moved down and touched the level and filled me so fast that the move was imperceptible in the DOM. I mean I was watching the dom intently and the market looked unchanged yet there I was long and in profit _instantly_! I have never had such a good fill before in my life, on anyone's platform and I used to work for a prop group where we had direct exchange connectivity, never mind on the ZenFire platform.
Lots of times with Mirus, on long shots like that I would see, after the fact, that the bar touched my level, but I would be left unfilled with the limit sitting in the book. The market did NOT retest that level on that swing. So technically the speed of the Optimus / Vision platform made me 30 ticks today.
I guess the point I am trying to make is that a good broker / platform doesn't only save you money but it can also make you money as in the example above. Thanks @mattz
But what does that have to do with your broker or platform? Your limit order already was at the exchange long before it was filled, your broker and platform have nothing to do with it getting filled...
Maybe it was just being in the queue but all I can say is that I've tried these types of entries before and been left hanging... but that didn't happen today.
Once your limit order is in the orderbook at the exchange waiting for execution, your broker or platform have nothing to do with the probability of it getting filled or not.