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

  #411 (permalink)
Auckland, New Zealand
 
Trading Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP/CQG
Favorite Futures: Whatever moves in my timezone
 
Posts: 1,823 since Sep 2009
Thanks: 3,195 given, 1,431 received


Opstar View Post
I've been asking to open an IRA account with AMP and on chat they just said I'll get you connected to the help desk. Afterwards they just sent me this automation response saying their reps are busy. I try emailing them but they never get back to me either, shows how much support I'll get if I do open an account with them.

try: trading@ampclearing.com and see if you can get hold of Dan the owner.

Prediction is very difficult, especially about the future - Niels Bohr, Danish Physicist
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  #412 (permalink)
Wherever I want to be
 
Trading Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: FGBL CL
 
Posts: 88 since Jun 2015
Thanks: 172 given, 75 received


steve2222 View Post
try: trading@ampclearing.com and see if you can get hold of Dan the owner.

Thanks, but I'm I would rather not bother. If I have issues getting a hold of them before making an account, I can't imagine what kind of nightmare might be awaiting when I have issues with a live account.

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  #413 (permalink)
Legendary Market Wizard
Boca Raton
 
Trading Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,366 since Sep 2010
Thanks: 2,302 given, 3,404 received



Opstar View Post
Thanks, but I'm I would rather not bother. If I have issues getting a hold of them before making an account, I can't imagine what kind of nightmare might be awaiting when I have issues with a live account.

We would be more than happy to assist you with an account at AMP. We work with their account opening dept. and their trade desk. If you need help do not hesitate to ask.

Thanks,
Matt Z
Optimus Futures

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

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #414 (permalink)
Vancouver, WA
 
Trading Experience: Beginner
Platform: Jigsaw, ToS, SC, SSE
Favorite Futures: Emini ES
 
Posts: 20 since Apr 2019
Thanks: 94 given, 20 received

AMP Policies

Dear fellow fio members,

I was in the process of signing up with AMP after seeing their YouTube video on Multicharts, but the following policy raised a red flag with me:

Applicable Rules and Regulations - The Account and each transaction therein shall be subject to the terms of this Agreement and to (a) all applicable laws and the regulations, rules, and orders (collectively, "regulations") of all regulatory and self-regulatory organizations having jurisdiction and (b) the constitution, by-laws, rules, regulations, orders, resolutions, interpretations and customs and usages (collectively, "rules") of the market and any associated clearing organization (each, an "exchange") on or subject to the rules of which such transaction is executed and/or cleared. The reference in the preceding sentence to exchange rules is solely for AMP's protection and AMP's failure to comply therewith shall not constitute a breach of this Agreement or relieve Customer of any obligation or responsibility under this Agreement. AMP shall not be liable to Customer as a result of any action by AMP, its officers, directors, employees, or agents to comply with any rule or regulation.

On one hand, this seems like typical legalese, but I find it pretty alarming. I hope to receive some feedback on this.

Thanks,

Jeff

Update: After this post, I reached out to Matt at OptimusFutures.com and I discussed Optimus' relationship to AMP as well as AMP's contract language. Matt explained that Optimus is an independent broker and AMP is one of the clearinghouses they use. Despite the fact that I am only an aspiring trader and a "little fish" at that, Matt was very cordial, professional, and thorough in discussing my concerns. I plan to sign up with Optimus.

Meanwhile, I received the following reply from AMP:

We all have to abide by the rules - you as well as us. However, that language is there so that you can certify that AMP will not be liable to you "as a result of any action by AMP, its officers, directors, employees, or agents to comply with any rule or regulation".
You are well within your rights to decline to be bound by this clause.
Thank you,
Compliance Department


Last edited by redneck4Christ; April 9th, 2019 at 02:54 PM. Reason: Update
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  #415 (permalink)
Legendary Market Wizard
Calgary, Alberta
 
Trading Experience: Advanced
Platform: NinjaTrader 8
Broker/Data: Kinetick
Favorite Futures: ES
 
JonnyBoy's Avatar
 
Posts: 1,025 since Apr 2012
Thanks: 391 given, 2,063 received


redneck4Christ View Post
Dear fellow fio members,

I was in the process of signing up with AMP after seeing their YouTube video on Multicharts, but the following policy raised a red flag with me:

Applicable Rules and Regulations - The Account and each transaction therein shall be subject to the terms of this Agreement and to (a) all applicable laws and the regulations, rules, and orders (collectively, "regulations") of all regulatory and self-regulatory organizations having jurisdiction and (b) the constitution, by-laws, rules, regulations, orders, resolutions, interpretations and customs and usages (collectively, "rules") of the market and any associated clearing organization (each, an "exchange") on or subject to the rules of which such transaction is executed and/or cleared. The reference in the preceding sentence to exchange rules is solely for AMP's protection and AMP's failure to comply therewith shall not constitute a breach of this Agreement or relieve Customer of any obligation or responsibility under this Agreement. AMP shall not be liable to Customer as a result of any action by AMP, its officers, directors, employees, or agents to comply with any rule or regulation.

On one hand, this seems like typical legalese, but I find it pretty alarming. I hope to receive some feedback on this.

Thanks,

Jeff

Update: After this post, I reached out to Matt at OptimusFutures.com and I discussed Optimus' relationship to AMP as well as AMP's contract language. Matt explained that Optimus is an independent broker and AMP is one of the clearinghouses they use. Despite the fact that I am only an aspiring trader and a "little fish" at that, Matt was very cordial, professional, and thorough in discussing my concerns. I plan to sign up with Optimus.

Meanwhile, I received the following reply from AMP:

We all have to abide by the rules - you as well as us. However, that language is there so that you can certify that AMP will not be liable to you "as a result of any action by AMP, its officers, directors, employees, or agents to comply with any rule or regulation".
You are well within your rights to decline to be bound by this clause.
Thank you,
Compliance Department

Yeah, avoid AMP. Use Matt. Simple.

--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------
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  #416 (permalink)
Ontario, Canada
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus Futures
Favorite Futures: NQ, 6E
 
Posts: 7 since Jun 2009
Thanks: 20 given, 2 received

AMP?

run...

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  #417 (permalink)
Site Administrator
Manta, Ecuador
 
Trading Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 47,332 since Jun 2009
Thanks: 30,151 given, 88,473 received

Interesting that Amp says they have to follow rules, when it's my opinion that it's a wonder how they get away with their commission calculator not showing the actual costs? How can they declare an all-in fee by web, phone, or email, that is not inclusive of their so called "clearing fee" and then pretend that such a fee is commonplace with all brokers and therefore somehow excluded as a cost.

Or am I wrong and they don't do these things? Please tell me if so and I'll happily stand corrected. My comment above is based on what others have told me or shared.

It seems they do this without consequence from the NFA, how do you imagine that is? Genuinely asking.


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  #418 (permalink)
Helsinki, Finland
 
Trading Experience: Advanced
Platform: SC/CQG, API/Rithmic, TWS
Broker/Data: AMP, Interactivebrokers
Favorite Futures: ES, NQ, CL
 
Scalpguy's Avatar
 
Posts: 172 since Jul 2010
Thanks: 10 given, 113 received

I've been a customer of AMP something about 8 years now and traded a lot of positions with them. Not a single issue what I remember. Btw. The Commission calculator gives the correct numbers for me. Be sure your parameters are right. So after my experiences no need to switch right now

It takes nothing to be a Pig
Go With The Flow
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  #419 (permalink)
Chicago, IL
 
Trading Experience: Beginner
Platform: Sierra Chart
Favorite Futures: NQ, HSI, CL
 
Posts: 42 since May 2018
Thanks: 49 given, 43 received

i have found their commissions calculator to be 100% accurate so not exactly sure what mike is talking about.

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  #420 (permalink)
Gold Coast
 
Trading Experience: Advanced
Platform: Sierra Chart
Favorite Futures: Futures and Forex
 
Posts: 19 since Aug 2010
Thanks: 10 given, 28 received


I joined AMP recently after over 10 years with IB (IB opened & Australian branch & became less loveable).

The commissions (amp cqg, free sierra chart) have been what I expected and lower than IB's were for what I trade. Customer service levels have suited me - but I don't like hand holding or paying for it.

So, satisfied

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