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AMP and MF. Is the same happening?
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AMP and MF. Is the same happening?

  #1 (permalink)
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AMP and MF. Is the same happening?

Ok thanks for your input everyone. Gus at Amp got on the case for me and has solved the problem, many thanks to him. All this technology and it seems the human touch still works best!


I have been trying to draw some funds from my account with AMP, I submitted a request via the client portal on the 28th October but nothing has happened. Normally AMP have been commendable, very fast and efficient, I submit an application for a wire transfer and the funds hit my bank account in Spain just 48 hrs later but this time the transaction has not happened. I have contacted AMP via e-mail 3 times already just asking for a simple Yes or No answer to the question "Have you received my application" but, no one is responding to my question, I know my question has been forwarded because my contact provided me with a copy of his request for a response.

Cause and Effect. If a pattern changes suddenly, and at the same time there is another major change within the same sector are we seeing Cause and Effect? or to use another metaphor, is it just a virus treatable with a few aspirin?

I do not want to be a scare monger but, is this just coincidental or is anyone else having a similar experience?


Last edited by dee50; November 2nd, 2011 at 12:09 PM. Reason: Problem Solved
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  #3 (permalink)
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We have a thread here where people talk about AMP, and it seems what's happening to you is not, unfortunately, a big surprise...
Good luck !

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  #4 (permalink)
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Don't forget about the holiday yesterday in many european countrys, that may delay the wire to your bank.

I'm also with AMP and had a problem with them some time ago (just some delay) and comunication was a problem, my contact, wich I assume is the same as your's since you are just next door (Gus), was always available but seems he could not do much more. The problem was solved but I did not liked the way they handled it.

They were very fast to send an e-mail saying they have nothing to do with MF.

Give them a few more days and lest us know how it goes.

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abrito900 View Post
Don't forget about the holiday yesterday in many european countrys, that may delay the wire to your bank.

I'm also with AMP and had a problem with them some time ago (just some delay) and comunication was a problem, my contact, wich I assume is the same as your's since you are just next door (Gus), was always available but seems he could not do much more. The problem was solved but I did not liked the way they handled it.

They were very fast to send an e-mail saying they have nothing to do with MF.

Give them a few more days and lest us know how it goes.

The difference here is I have had my monthly statement and the transaction does not appear on it, where as in the past I received a daily statement showing the tramsaction had taken place, on the same day, so the funds are not in transit. The frustrating part of this is no one seems to be capable of responding with a simple Yes or No.
Communication Skills, something that any business needs to have, when a business does not respond to its customers queries, alarm bells should ring.

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I had the oposite problem, I wired money to them and they could not find it.
Communication was a big problem and after a week of no money and no real answers I sent an e-mail to all the AMP e-mails I had stating that the next e-mail would be to NFA (National Futures Association) and CFTC (Commodity Futures Trading Commission) exposing the situation.
Guess what? Next morning the money was in the account. But no explination for what happened.

Is Gus your contact there? Do you have his Skype contact? He is usually very helpfull even if many there are not.

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abrito900 View Post
I had the oposite problem, I wired money to them and they could not find it.
Communication was a big problem and after a week of no money and no real answers I sent an e-mail to all the AMP e-mails I had stating that the next e-mail would be to NFA (National Futures Association) and CFTC (Commodity Futures Trading Commission) exposing the situation.
Guess what? Next morning the money was in the account. But no explination for what happened.

Is Gus your contact there? Do you have his Skype contact? He is usually very helpfull even if many there are not.

Yes I have been in contact with Gus and he forwarded my query and I agree he is allways very helpfull but appears to be let down by the others. The attitude from the top would appear to have filtered down in this company which is a shame as they had the opportunity to stand out from the others but obviously have decided that another way is superior.

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Problem Solved

If you missed my ammendment in post number 1.

Gus at AMP got on the case for me and solved the problem. Technology is a wonderous thing when it works but ultimately it is the human touch that works best, especially when it comes to communication.

Thank you all for your contributions but for me this thread is now closed.

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Futures Accounts Protection - We are all Naked

How is my futures account protected?

Government regulations require the strict handling of customer funds used to participate in U.S. futures markets. Funds that customers have deposited in an individual account with their futures commission merchant (FCM) to trade on futures exchanges located in the United States are required to be segregated (held separately) from any of the firm's own funds. The amount segregated will increase or diminish as the customer makes or loses money from trading.
Customer funds are not subject to creditor claims against an FCM should it become financially unstable or insolvent, and customer funds can be transferred to another FCM if necessary. Finally, even though an FCM is required to segregate customer funds, customers still may not be able to recover the full amount of any funds in their account if the firm becomes insolvent and there are insufficient funds available to cover the obligations to all of its customers. Customer accounts are not insured. Customers should ask their broker about account protection and should be aware of the limitations imposed on the protection of the funds in their futures trading accounts. ( We also know now that much of the above is not regulated as customer accounts with MF Global apparently have been illegally tapped)

How is my futures account protected?

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How is my futures account protected?

Government regulations require the strict handling of customer funds used to participate in U.S. futures markets. Funds that customers have deposited in an individual account with their futures commission merchant (FCM) to trade on futures exchanges located in the United States are required to be segregated (held separately) from any of the firm's own funds. The amount segregated will increase or diminish as the customer makes or loses money from trading.
Customer funds are not subject to creditor claims against an FCM should it become financially unstable or insolvent, and customer funds can be transferred to another FCM if necessary. Finally, even though an FCM is required to segregate customer funds, customers still may not be able to recover the full amount of any funds in their account if the firm becomes insolvent and there are insufficient funds available to cover the obligations to all of its customers. Customer accounts are not insured. Customers should ask their broker about account protection and should be aware of the limitations imposed on the protection of the funds in their futures trading accounts. ( We also know now that much of the above is not regulated as customer accounts with MF Global apparently have been illegally tapped)

How is my futures account protected?

You should post this on this thread https://futures.io/brokers-data-feeds/14610-am-i-good-example-bad-luck.html

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