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Lawsuit: AMP Futures Trading aka AMP Global Clearing
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Created: by Big Mike Attachments:43

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Lawsuit: AMP Futures Trading aka AMP Global Clearing

  #81 (permalink)
Elite Member
Hong Kong
Futures Experience: Beginner
Platform: Jforex, MetaTrader4, NinjaTrader, MultiCharts, Sierra Chart
Favorite Futures: TF, NG, CL, GC, FDAX, FGBL
Posts: 38 since May 2013
Thanks: 37 given, 34 received

There is still justice in the U.S.

Words can not describe how touched and happy I am when I heard that this lawsuit has been dismissed.

Freedom of speech is an essential part of modern civilization and human rights.

This judge has showed true integrity in making this decision.

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  #82 (permalink)
Elite Member
london, UK
Futures Experience: Intermediate
Platform: NT
Broker/Data: NT
Favorite Futures: Stocks, Bonds
Posts: 131 since Sep 2013
Thanks: 152 given, 52 received (formerly BMT) is a constant source of information, I am glad that this is still the case, and fairplay to you Mike standing up to this challenge.
Cementing the future development of trader information, for traders globally who use this site, its great news.


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  #83 (permalink)
Elite Member
London UK
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: IG Index
Favorite Futures: FX. Futures, Spreadbetting
Posts: 78 since Aug 2011
Thanks: 160 given, 40 received

Even though I do not visit (formerly BMT) as much as I used to (not trading actively right now) I have to say I was delighted to read the post from Mike that the lawsuit had been thrown out.

It proves that David can beat Goliath and that reason can prevail. I will ever be grateful to Mike and his fellow members that gave me so much information and support in my early days trading and am happy that many more will continue to reap the benefits of such a great forum.

Well done Mike

All the best.

Never stop learning - never stop applying the knowledge.
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  #84 (permalink)
Trading Apprentice
rome italy
Futures Experience: Intermediate
Platform: sierra, ninja,mt4
Favorite Futures: mini nq, mini esp, mini dj
Posts: 2 since Apr 2014
Thanks: 4 given, 1 received

Happy for justice that works!!!

Excellent notice!

I think that every honest person will appreciate the honesty and transparency of this forum.

Tks (formerly BMT).

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  #85 (permalink)
Elite Member
Adelaide South Australia
Futures Experience: Intermediate
Platform: Ninjatrader
Favorite Futures: Dax
Posts: 12 since Feb 2014
Thanks: 5 given, 7 received

One has to be amazed how a broker who's business needs customers to thrive has progressively alienated so many potential customers!

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  #86 (permalink)
Market Wizard
Sarasota FL
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES
Posts: 4,027 since Jan 2013
Thanks: 29,190 given, 12,785 received
Forum Reputation: Legendary

FMTrader View Post
One has to be amazed how a broker who's business needs customers to thrive has progressively alienated so many potential customers!

Markets are not really rational....

(Or some of the participants in them are not, at least.)


Last edited by bobwest; August 3rd, 2014 at 08:17 AM.
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  #87 (permalink)
Elite Member
Alameda, CA
Futures Experience: Intermediate
Platform: Sierracharts
Favorite Futures: NQ
Posts: 38 since Oct 2011
Thanks: 136 given, 19 received


While we're all glad of the outcome, lety's not forget how much it cost Big Mike. There's a link to making a donation at the first page of this thread. I'm making a donation NOW!

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  #88 (permalink)
Elite Member
Pittsburgh, Pennsylvania
Futures Experience: Advanced
Platform: Ninja Trader
Favorite Futures: 6E, CL, Anything that moves
Posts: 330 since Jun 2012
Thanks: 394 given, 103 received


I knew you would win -- for some reason part of me told me that you would win and you didn't have to worry about it!

Thank GOD the judge had INTEGRITY and knew that AMP was BSing. Can't believe AMP would kind of "stoop that low" really in a business that is all about the people - you know. It is not like they are in the Shipping business that is all about the boats and the containers. They are in the broker / people business and they kind of dis-respected a TON of people.

The CEO of AMP should publicly apologize to both Mike and ALL of (formerly BMT) for that dis-respect because they basically threatened with taking (formerly BMT) away from everyone here if there lawsuit would have been big enough. You know..

That is aggressive action and they were in the wrong -- so they have to admit that... come to terms with that .. learn from that and then publicly apologize to everyone here in (formerly BMT) for that.

Some will accept the apology ... some won't .. but everyone would respect the gesture (*as long as it is real of course) and it would be a step in the right direction. That is the correct way to run a business.

Also Mike -- I divided the 53,000 members by the 17,000 lawyer fee AND it just came out to 32 FREAKIN CENTS! Just 32 freakin cents if everyone gave just 32 cents right now... that would be done and over with. :O

You may have to start something like a small a kickstarter and everyone just gives 32 - 50 cents and in like 30 mins that would be over... Just talking out loud basically. You know.

Because the awesome programs already made by Fat Tails, Gomi, Cory, Resvat (*spelling) , vvhg -- are all worth ALLLLLLOOOOT More than some measly 32 cents.

You could also make it better - by maybe offering a small booklet/pdf telling something like your story as a trader and things you went thru as a trader with maybe the platforms that you use and why.. for new traders that are starting out -- they would definitely give 1 or 2 dollars.. maybe more.. You don't have to say your system just give some good tips for REALLY REALLY NEW traders. That would be worth at least a buck to the new traders for sure.

Do that Kickstarter style .. and I think this could be handled.

Cheers !

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  #89 (permalink)
Chicago, IL
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL and YM
Posts: 24 since Nov 2011
Thanks: 14 given, 30 received


It's always heart warming to hear stories of the "small guy" winning against the "machine"...thank you for fighting the good fight and giving traders such an open and honest forum for sharing information! Thanks, Mike!!

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The following user says Thank You to Jillzy for this post:
  #90 (permalink)
Site Administrator
Manta, Ecuador
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
Big Mike's Avatar
Posts: 46,336 since Jun 2009
Thanks: 29,452 given, 83,953 received


To date there have been approximately ~200 contributors to the legal fund.

I also want to point out that a small number of those ~200 contributors have donated a large amount compared to the average. I believe the biggest was around $500 (I would need to check, but pretty sure). Excel is telling me the average is about $50.


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