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-   -   Advanced Markets or AMIFX (https://www.forexfactory.com/thread/244451-advanced-markets-or-amifx)

pinoyboy Jul 5, 2010 12:05am | Post# 1

Advanced Markets or AMIFX
 
Any thoughts on this firm? Anyone using them and your feedback? They have different technology from everyone else but using STP technology called DMA (Direct Market Access). The PIP spread is one of the best I've seen. I just do not see alot of comments on these guys. They're regulated in the US and they do alot of institutional business also.

LEXngton Jul 5, 2010 10:05pm | Post# 2

I love this broker and so do my closest trading friends. We all have had live accounts with them for over 1 year now and they rock! You will not find faster, more reliable broker when it comes to execution. I've tried just about all of them believe me. No issues whatsoever with withdrawls and like you said they are USA based and NFA regulated. Their spreads are fantastic, commissions are ok. My advise is to give them a try!

pinoyboy Jul 5, 2010 10:40pm | Post# 3

Thanks
 
Thanks for your personal feedback. I'll go live with them after further testing. I will use another charting application, but their platform has me sold. Anyone else interested should read their FAQ.

EasyTrader Jul 7, 2010 8:04am | Post# 4

I'm interested in what happens during news releases. Any comments

pinoyboy Jul 7, 2010 10:52am | Post# 5

Last Week Example
 
I've been testing them for at least a month, and during the spikes last week on EUR/USD, the spreads remained constant and I was able to put a trade in. Now granted, I am using their demo. In comparison, my other demo on another platform, their spreads widened so I never placed a trade.

DaleC Jul 7, 2010 5:18pm | Post# 6

Was with AMIFX for about a year and in the beginning was filled 25-50% of the spike, but that stopped after a while and last I traded with them I was slipped to bottom and top of spikes. Also their closing is a bit delayed. I would not reccommend them for spike trading. Their commissions are high especially on the gbp crosses.

pinoyboy Jul 7, 2010 6:14pm | Post# 7

Thanks
 
Appreciate the feedback. Keep considerations for a scalper.

PipStar Jul 8, 2010 6:16am | Post# 8

Was with AMIFX for about a year and in the beginning was filled 25-50% of the spike, but that stopped after a while and last I traded with them I was slipped to bottom and top of spikes. Also their closing is a bit delayed. I would not reccommend them for spike trading. Their commissions are high especially on the gbp crosses.
Agree with what you say above. They're not worth it. They don't seem to have much liquidity that's why they fill end of spike. Or may be it's their game to cause as much losses as they can for traders during fast markets.

pinoyboy Aug 15, 2010 10:28pm | Post# 9

Too Much Cost for Amifx
 
I've found too that Advance Markets or AMIFX are too expensive. Although their spread are the lowest, they are 3-5 time more in commission alone to the nearest competitor. Asides from that, they also charge a spread cost!

Example: They charge $8 round trip for 100K thus if I trade 1 MIL it will be $80 plus spread cost. For comparison FXDD Currenex is $20 or lower per 1 MIL. that's 4X the cost!

These number are based on quotes last week I received.

pinoyboy Aug 18, 2010 3:32pm | Post# 10

Update
 
I have to rescind my earlier comment - a mistake on my part. It seemed like it is expensive; however, after looking at the spread costs of other FCM, it is not. Compared to Currenex, it is. But compared to normal FCM, it is not - look at how much you pay for the spread for all the pairs. Keep in mind that regardless of the pair you are trading, it is still $8/100K. I trades 14 currency pairs using FXDD Currenex vs AMIFX, and I came out ahead on AMIFX. I did this for a couple of days - all day and over 35-40 trades per day - I did take into consideration the fees. Alot of scalpers prefer the Currenex, but AMIFX was better in my personal test - by a wide margin.

In summary, although AMIFX seems more expensive than Currenex, I was constantly and alot more profitable on AMIFX by the way I trade. I can't say the same for you, but I would suggest testing out the platforms against each other yourself. This was a surpise to me. Try Currenex vs AMIFX yourself. Fees only tell half the truth...

Just to note, ATC is another broker who uses siimilar LOW spreads and commission based structure but uses MT4 to connect to STP technology on FXCM feeds. I may consider ATC also due to similar fees, connection type, and spreads.

Great Trading to all...

TC East Aug 18, 2010 3:53pm | Post# 11

Keep in mind that regardless of the pair you are trading, it is still $8/100K.
It's $8/100K of USD, not regardless of pair traded. So if trading a round turn lot of GU, cost is about $12.48 (1.56 x $8.00). I trade there with a live account.

ATC where I also have a live account does the $8/100K regardless of pair, so GU lot would only be $8 there....

pinoyboy Aug 18, 2010 3:58pm | Post# 12

Clarification
 
Not sure where you are getting that only USD pair only. On their web site for BROKERAGE FEE schedule, it does not state only USD pair. Where did you get that? Thanks for any clarification.

BTW, I've attached so far my demo for 2.5 days...

http://i38.tinypic.com/ifcs61.gif

TC East Aug 18, 2010 4:03pm | Post# 13

Not sure where you are getting that only USD pair only. On their web site for BROKERAGE FEE schedule, it does not state only USD pair. Where did you get that? Thanks for any clarification.

BTW, I've attached so far my demo for 2.5 days...

http://i38.tinypic.com/ifcs61.gif
My account statements that show commissions charged. Also it says commissions are charged in USD correct? How many USD are in 100,000 GB Pounds? About $156,000 USD. How many USD in 100,000 Euros? About $128,000 USD. Trading AU or NU for example would actually be less than $8 round turn though, as 100,000 NZD is about 71,300 USD, etc. Hope that clarifies...

Edit: sorry if I came off a little defensive in my last post. I just edited it somewhat. My bad...

pinoyboy Aug 18, 2010 4:12pm | Post# 14

got it...
 
Sorry misunderstood that part...no harm.

UPDATE: Just found out they have 20 employees or less which makes me wonder. No wonder they never responded - day 3 of an email inquiry. As good as the SPREADS and platform are, I am sticking with the Currenex platform - AMIFX fees are still twice as Currenex providers. I actually found Viking Trader, another interface to Currenex technology platform; the other Currenex software is called Power Trader.

witsnpips Aug 25, 2010 10:44am | Post# 15

I would say neither - ur better off with fxopen or fxcm.

pinoyboy Sep 13, 2010 8:02am | Post# 16

Preference / Follow Up
 
I decided to split funds between ATC and Amifx (AdvancedMarkets). Both are better for me in terms of execution, spread, and overall comfort. Since two weeks, very nice gains. See my previous postings on how to set up amifx for very profitable trading.

LEXngton Sep 13, 2010 12:06pm | Post# 17

I decided to split funds between ATC and Amifx (AdvancedMarkets). Both are better for me in terms of execution, spread, and overall comfort. Since two weeks, very nice gains. See my previous postings on how to set up amifx for very profitable trading.
Can you share your trading strategy here or in a PM to me? Thanks.

pinoyboy Sep 13, 2010 5:54pm | Post# 18

Discretionary
 
My method is primary use of S/R lines, Fib, with confirmation from VSA/MACD with an eye on 1,5,and 15 TF.

LEXngton Sep 13, 2010 8:14pm | Post# 19

My method is primary use of S/R lines, Fib, with confirmation from VSA/MACD with an eye on 1,5,and 15 TF.
Ok thanks for the info. I use amifx for regular trading and trade the news with it at times too. Most often its a no fill on spikes but on the smaller reports like tonights RICS House Price Balance, which had a HUGE deviation of -20, they fill and without hardly slippage at all. Just closed my g/u trade out for +42 pips. Attempted fill at 7:01pm and price of 1.54282 with actual fill of 1.54273. Closed at 1.54864

Also they usually normalize spreads very soon after the release of a news report, usually within 10-15 seconds, if not quicker. So you can often get a very good fill right after the report has released and retraced.

$$Trader Mar 5, 2011 12:17am | Post# 20

Any updates on this broker? Is their orders execution and spread as good as before or better? I am in the process of looking for a new broker.

I am contemplating between Dukascopy and AMIFX. Any feedback is much appreciated.


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