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AMP Futures / AMP Global Review
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AMP Futures / AMP Global Review

  #61 (permalink)
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Strange that AMP does not clarify the question being raised.. After all, it's just for clarification, not promotion..

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  #62 (permalink)
Just a boy
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fourtiwinks View Post
Strange that AMP does not clarify the question being raised.. After all, it's just for clarification, not promotion..

I believe Big Mike banned AMP from this site ... so they can't reply. There are other threads that explain Big Mike's reasons.

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  #63 (permalink)
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steve2222 View Post
I believe Big Mike banned AMP from this site ... so they can't reply. There are other threads that explain Big Mike's reasons.

That is correct. They received multiple warnings prior to being banned letting them know they were violating forum policy.

Since that time, I am involved in legal action with Amp in order to defend posters rights on futures.io (formerly BMT), so you can be sure they are no longer welcome on futures.io (formerly BMT). However, I do encourage users to share their experiences about Amp on futures.io (formerly BMT). Unlike on other forums, those experiences will not be deleted so long as they are genuine and conform with our forum policy.

Mike

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  #64 (permalink)
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I just checked the funding instructions and your funds go to JPMorgan. (see AMP GLobal Clearing -Funding Instructions)
With the fiasco they're involved in with the Madoff case, I don't trust putting money into a "Customer Segregated Funds" with them.

see JPMorgan, Madoff, And Why No One Dared Ask "The Cult" Any "Serious Questions As Long As The Performance Is Good" | Zero Hedge

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  #65 (permalink)
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Futures Edge on FIO

What value do you place on the webinars on FIO?

 

JustinIsHere View Post
I just checked the funding instructions and your funds go to JPMorgan. (see AMP GLobal Clearing -Funding Instructions)
With the fiasco they're involved in with the Madoff case, I don't trust putting money into a "Customer Segregated Funds" with them.

see JPMorgan, Madoff, And Why No One Dared Ask "The Cult" Any "Serious Questions As Long As The Performance Is Good" | Zero Hedge

I wouldn't have a problem from the JP Morgan side of things, in terms safety or getting your money back. They are one of the well-connected "too big to fail" guys, along with Goldman - the government will never let them go down completely, but they will bleed them for fines as much as they can.

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  #66 (permalink)
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FBJS View Post
I wouldn't have a problem from the JP Morgan side of things, in terms safety or getting your money back. They are one of the well-connected "too big to fail" guys, along with Goldman - the government will never let them go down completely, but they will bleed them for fines as much as they can.

Could you please provide proof that it is safe to get your money back when such event occur? Any timeframe would be a bonus too.

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  #67 (permalink)
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FBJS View Post
I wouldn't have a problem from the JP Morgan side of things, in terms safety or getting your money back. They are one of the well-connected "too big to fail" guys, along with Goldman - the government will never let them go down completely, but they will bleed them for fines as much as they can.

As an example, I believe PFG also stored money at JPM before PFG stole it all and robbed customers, see here:
https://futures.io/brokers-data-feeds/21573-peregrine-financial-group-pfg-accoun...-scandal-big-thread.html

So I don't think that JPM should carry a lot of weight as part of the decision on choosing an FCM.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
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  #68 (permalink)
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JustinIsHere View Post
Could you please provide proof that it is safe to get your money back when such event occur? Any timeframe would be a bonus too.

What I mean is that if you are going to get screwed, it will be by the company who owns the account, like PFG or AMP or whomever. Losing money because JPM itself goes down is highly unlikely, given that the government won't let it happen. For proof, I direct you to 2008 and the financial crisis. Given how the situation has changed they will let more firms fail now (with bail-ins, and so on), but JPM probably isn't going to be one of them. Still, as far as I'm concerned they only true security is owning physical assets that you can get your hands on.

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  #69 (permalink)
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Big Mike View Post
As an example, I believe PFG also stored money at JPM before PFG stole it all and robbed customers, see here:
https://futures.io/brokers-data-feeds/21573-peregrine-financial-group-pfg-accoun...-scandal-big-thread.html

So I don't think that JPM should carry a lot of weight as part of the decision on choosing an FCM.

Mike

I agree... I guess the point is that JPM is not going to be the weak link here. You should really look at the FCM itself to determine what your risk level is...

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  #70 (permalink)
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FBJS View Post
I agree... I guess the point is that JPM is not going to be the weak link here. You should really look at the FCM itself to determine what your risk level is...

If JPMorgan is not "the" or "a" weak link here. Care to enlighten me on how they got fined $1.7B in the Madoff case and are the target of a class action lawsuit (Peregrine Financial Group Class Action | Lawsuit Against JPMorgan Chase & U.S. Bank Over PFG Customer Funds) in the PFG thievery that has lasted 2 decades?

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