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AMP Futures and Mirus, which one is better
Started:February 15th, 2010 (10:25 PM) by owen Views / Replies:87,333 / 346
Last Reply:April 2nd, 2014 (01:14 PM) Attachments:7

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AMP Futures and Mirus, which one is better

Old February 15th, 2010, 10:25 PM   #1 (permalink)
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AMP Futures and Mirus, which one is better

AMP and Mirus, which one is better

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Old February 15th, 2010, 10:25 PM   #2 (permalink)
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Old February 16th, 2010, 02:09 AM   #3 (permalink)
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I just switched from Amp to Mirus after over a year, Mirus has better margins and commissions.

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Old February 16th, 2010, 04:32 AM   #4 (permalink)
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I just switched from Amp to Mirus after over a year, Mirus has better margins and commissions.

Mike

Mike,

The account opening documentations with Mirus are all either RCG's or Dorman Trading's; so Mirus is a kinda IB to RCG and Dorman Trading. Did you consider opening your account directly with either RCG or Dorman ? What advantages (or disadvantages) do I have if I open an account directly with RCG or Dorman Trading
?

Lolu

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Old February 16th, 2010, 05:21 AM   #5 (permalink)
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Lolu, I look forward to you doing extensive research and reporting back everything you find.

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Old February 16th, 2010, 05:49 AM   #6 (permalink)
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Lolu, I look forward to you doing extensive research and reporting back everything you find.

Mike

Mike,

I'm in the process of opening a live account and I'm considering Mirus. On Mirus website the account opening process reveals RCG and Dorman. I later confirmed that RCG and Dorman are brokers too; in addition, they are clearing houses. These are all I know and need to know. However, I need advice from somebody like you (if you can give me) on the options I now know.

Lolu

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Old February 17th, 2010, 07:37 PM   #7 (permalink)
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AMP is better

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Old February 18th, 2010, 12:39 AM   #8 (permalink)
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Amp Futures or Lightspeed

I new to AMP futures, but I can say given experience, AMP futures along with Zenfire is far better than what I precviously had. I've had future accounts with Interactive brokers, Tradestation, Thinkorswim(margins too high), and Lightspeed Trading. Now Lightspeed by far has been the fastest in my experience out of the brokers I've tried before up until now Zenfire is just a slight faster. Interactive Brokers has nice round trip commissions, also Lightspeed but Interactive Brokers interface was too slow and sometimes locked up. I've never used Mirus, but if I had to choose based on reviews I like AMP futures and Lightspeed Trading.

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Old February 18th, 2010, 12:46 AM   #9 (permalink)
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Yes but we're comparing Amp and Mirus.

They are practically twins. Both have Zen Fire and Dorman. The real difference is in the margins and commissions.

I've found the margins and commissions of Mirus to be better than Amp.

Mike

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Old February 19th, 2010, 07:13 PM   #10 (permalink)
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AMP and Mirus, which one is better

having gone through the same evaluation process, and after having accounts with TS/IB/MBT/TOS for trading futures, and a few others for options/currency/equities; here are my two cents...

AMP has somewhat better customer service as the account mgrs are very familiar with NJT and are more than willing to help you with any issues with the platform. They were very outgoing with me when I was evaluating them. Their commissions for futures are equal to TS, better than TOS and most out there, and $400 margin. I was quoted $4.80 RT for TF; however, if you use the TT feed, then your rate is lower, but it means giving up Zen-fire.

MIRUS, if I am not mistaken, they are zen-fire, so AMP is using them I would say. Their comissions are better, $4.40 ES/YM/NQ, $4.00 TF, $5.02 CL/GC and it goes lower depending on your volume. Their margin is $500 per car. Their customer service is good, not going above and beyond and not sure if very familiar with NJT; but I would also say that it would depend on your account manager. I have interacted little with my acct mgr and I have been the one initiating contact to get a few things done that I needed to get done.

They both clear through Dorman, in addition to RCG(Mirus) and AMP clears through someone else that I dont remember right now. It took about a day to open an account with Mirus. I do have to say that Mirus was lower than IB for TF unbundled commissions as well. However, I have not found anyone who can beat IB margin rates for equities/options, but now I digress.

You get an NJT license for both that wont have ATM or Strategies, but you get pretty much everything else.

NinjaTrader Live Trading Demo & Charting. Zen-Fire Data for NinjaTrader. Futures Broker Online.

The main issue I had with either one of them was the difficulty to get funds in or out of the account. I have to wire funds around for everything, no ACH; and to transfer funds between accounts in-house, I have to call or email the account rep.

I do miss the ability to ACH and transfer funds between my accounts with all the other brokers (TS/MBT/IB/TOS). I would say that is the major drawback.

I hope that helps.

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