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Day Trade Rate and Margin and/or 80% Daily loss limit Liquidation

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  • CalmTrader
    replied
    Someone from @AMP said to ask these directly with support. This info might be helpful to other new traders as well. So, I asked the help desk and here are the answers:


    1.a 80% loss liquidation
    1.b 80% loss liquidation
    1.c $25 per contract

    2.a When the account doesn't have full overnight margin going into the market close
    2.b When account value from the beginning of the day balance drops below 80%
    2.c Looks like per contract (did not receive confirmation on this question)
    2.d Not possible to receive advance notification.

    3. Not required.

    4. Looks like AMP has something "extra special low margins" which are even lower than the day trade margins at https://www.ampfutures.com/trading-info/margins/. And it might have little bit higher commission which seemed to be the source of confusion in some of the questions in this forum because of lack of information on those "extra low margins".
    Last edited by CalmTrader; 03-02-2021, 03:04 PM.

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  • Day Trade Rate and Margin and/or 80% Daily loss limit Liquidation

    Hi,

    I have a lot of questions below:

    1) From page: AMP Margins AMP Futures
    DayTrade Margin is set by AMP Global. This is the amount required to enter into a position per contract on an intraday basis.
    1.a) What happens when the account balance drops below the DayTrade Margin after taking a position?
    1.b) What happens if the account balance drops below Zero while the position is still open?
    1.c) Are there any extra fees associated with events 1.a) or 1.b) above?

    2) From page: Account Fees - AMP Futures
    Margin and/or 80% Daily loss limit Liquidation: 25.00 per contract
    2.a) When does the margin liquidation occur? Could you please also provide an example please say for ES?
    2.b) How does the 80% loss limit liquidation work (more details on per position or full account size etc.)?
    2.c) Is that fee really per contract or per transaction? For example: if there are 100 open contracts for a single symbol which are going to be liquidated does it mean that the fee will be 100*25.00 = $2500.00?
    2.d) What is the best way to avoid the liquidation? Is it possible to get a couple of minute of advance notice before it occurs so that the traders themselves can manage the positions (say closing other positions) and bring account to good standing?

    3) Regarding Day Trade Margin Rate:
    3.a) Are there any stop loss orders that are mandatory to use the day trade margin rate? I have heard some platforms mandate to have a stop loss order at a fixed distance all the time.

    4) Regarding Commission Fees and Day Trade Margin
    4.a) Are the commission fees different if Day Trade Margin is used? For example: if trading Micros (says MNQ or MES) what will be the total round trip commission fees for an account funded with minimal amount (say USD 500) using Day Trade Margin?
    4.b) Other than the volume tier, are there any other factors that affect the commission fees?
    4.c) There are some posts on internet which mention that they were charged more commission fees than mentioned. You can also find some concerns in this forum mentioning that they were charged higher commission fees, but the responses from AMP did not provide clear explanation (related links below). Could you please clarify all the doubts? Are those concerns real? If so, where are the extra fees coming from?

    Related links concerning commissions:
    Commission and Fees are higher than advertised - AMP Forum (ampfutures.com)
    Double charged commissions - AMP Forum (ampfutures.com)

    Thanks.
    Last edited by CalmTrader; 02-21-2021, 09:37 AM.

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