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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
* If investing gets too difficult for a seventh grader to understand, the system is needlessly complex
* Markets produce an enormous volume of information, much of which is redundant
* In every game and con there's always an opponent, and there's always a victim. The trick is to know when you're the latter, so you can become the former
Can you help answer these questions from other members on NexusFi?
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))
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
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.
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.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
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.
When one door closes, another opens.
-- Cervantes, Don Quixote
How does everyone manage to get custom statements apart from the daily ones? AMP doesn't seem to offer other types.
I'm trying to scrape together all my trades for the last year (for tax) and there doesn't seem to be an easy way to get this report. Motivewave told me CQG limits historical trade data to 48 hours.
Big difference from Tradovate where all your data is available in the platform whenever you want.
I am doing some due diligence on ways to trade index futures outside of the US.
My Interactive Broker account is fine but for the very high margin requirements per contract. A little study shows AMP has much more reasonable margin requirements. However, reading through this thread motivates me to at least consider other solutions.
Are there other alternatives to trading global index futures besides IB and AMP, and what are the pros and cons?
