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AMP Futures / AMP Global Review

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  #551 (permalink)
Russia, St.Petersburg
 
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after almost 2 months they answered me, woow, they probably went to this forum and saw the complaint:
Your account was disabled due to triggering a compliance alert.
Unfortunately, we are unable to disclose internal compliance checks...but as you have experienced, there was NO delay in your funds being withdrawal back to you.

There is no further details that can be provided. Thank you for your understanding.

ps: There is only one conclusion - we will not say anything and we do not care about your problems.
thanks - all that is needed, I already understood everything

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  #552 (permalink)
Philadelphia PA
 
 
Posts: 61 since Jan 2019
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Well guys, I have nothing good to say about AMP. I applied to them over 3 weeks ago as a corporate account as I already have a corporate account with Interactive Brokers. However, their margins recently have gotten ridiculous for the E-Minis....so I needed to move.
AMP new accounts had me sending them dozens of pages of declarations and corporate documentation.
They lost the verification documents, so I had to complete them twice.
Here's what they sent me today: what a cruel and cold organization....anyone have alternative recommendations ?
------------------------------------------------------------------------------------------------------------------------------------------------------------
AMP | Tracey (AMP Global (USA))

Oct 19, 2020, 11:43 AM CDT

Dear Mark,

After performing our review carefully, we regrettably cannot continue with the account review process for your application. Your application will be declined.

We hope you understand that we do not comment our decision and regret that we cannot give you any other positive message.

Thank you for your interest in AMP Global Clearing, LLC
Compliance Team

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  #553 (permalink)
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Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
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syswizard View Post
Here's what they sent me today: what a cruel and cold organization....

That is cold. Even if they are going to say no, this is an amazingly brusque way of saying so, and of giving no hint of a reason.

Why go out of their way to be offensive? It's hard to understand the point, no matter what their reasons are.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #554 (permalink)
Philadelphia PA
 
 
Posts: 61 since Jan 2019
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bobwest View Post
That is cold. Even if they are going to say no, this is an amazingly brusque way of saying so, and of giving no hint of a reason.
Why go out of their way to be offensive? It's hard to understand the point, no matter what their reasons are.
Bob.

Exactly Bob, but remember: Compliance = Lawyers.....and I have not had a great experience with <any> lawyer in my lifetime....except for friends who are lawyers.

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  #555 (permalink)
Albuquerque, NM, USA
 
 
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westmalle View Post
Question on per side costs at AMP as I consider to open an account with AMP.
Anyone has a real live experience with AMP and costs in the following environment:

Assume ES or YM or NQ, volume tiered < 1000 contracts. Using ChartDOM of Sierra chart package 3 to place orders to CME.

- “Sierra Chart – TT-W (FIX) - $20 per month (SC-Denali Exchange Data Feed)”
- CME Market Data (Bundle or CBOT, CME, COMEX, NYMEX) is to be enabled (EUREX market data is NOT available)
- Sierra Chart Package 3 (Free for AMP Direct Customers).

QUESTION: what is my per side cost for trading ES or YM or NQ using the ChartDOM of Sierra? The AMP cost calculator does not allow to select TT with Sierra.
AMP support does not know the answer and redirects me - so I get suspicious because a per side cost for e.g. ES on Sierra with denali/TT should not be rocket-science for a broker.

Any input from a current AMP/Sierra/Denali-TT/ChatDOM user is highly appreciated.
Regards,
Mike

$20/month for Denali/TTRouting
$10/Month CME Exchange Fee

Per-side cost is the same as CQG, so select that in their all-in cost calculator.

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  #556 (permalink)
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bobwest View Post
That is cold. Even if they are going to say no, this is an amazingly brusque way of saying so, and of giving no hint of a reason.

Why go out of their way to be offensive? It's hard to understand the point, no matter what their reasons are.

Bob.

I don't think the response was cold, offensive, or inappropriate. Compliance wants to keep it short and sweet, and they did say that they "regret".
Bob, if someone is rejected is for a reason, it is not random. There are all kinds of people applying and at times their backgrounds, goals, financials, etc. may not match a firm's desired customers. AMP approves customers daily for us, and if someone is rejected, I just trust their choice, and I direct the customer to other FCMS that may be a better match (if appropriate).

Matt Z
Optimus Futures

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  #557 (permalink)
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mattz View Post
I don't think the response was cold, offensive, or inappropriate. Compliance wants to keep it short and sweet, and they did say that they "regret".
Bob, if someone is rejected is for a reason, it is not random. There are all kinds of people applying and at times their backgrounds, goals, financials, etc. may not match a firm's desired customers. AMP approves customers daily for us, and if someone is rejected, I just trust their choice, and I direct the customer to other FCMS that may be a better match (if appropriate).

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Matt, I don't doubt that they had their reasons, and they do have an absolute right to accept or reject anyone they want to. I am not saying there is anything wrong with the decision they made, and of course I don't know what the basis was for the decision, and it is not something for me to approve of or not in any case. I also don't have anything against AMP and I know they have satisfied customers who stay with them. I assume those customers have reasons to, just as I assume AMP makes business decisions based on what they regard as good business practices, and I have no reason to think otherwise.

My problem is with the phrasing, not with whether they said yes or no. It did not need to be as abrupt as it was, at least to my reading of it. You can let someone down more easily than that.

I know you work with them and have a good relationship, no doubt also for good reasons. But someone ought to re-write their rejection letter, that's all.

Bob.

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