AMP Global Application Requirements

With regards to insurance of futures accounts, there is none, except for if I make an account with Interactive Brokers Canada (their data feed sucks and they have high margin requirements). I have already accepted this and still made the decision to go with a US broker depositing only as much as I need for margin trading and then sweeping profits regularly to reduce exposure.

This is the final response I got from Amp:
AMP’s account review process is proprietary and cannot be distributed. A business decision was made to not move forward with your application. Unfortunately, I do not have any more information for you.


All the best to you
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I am based in Ontario and not BC so the province is not a problem because I had called them up before applying to make sure they accept Ontario residents.

I think it was declined because their 'proprietary process' takes country of citizenship of applicant into consideration rather than permanent residence / current residence of applicant. No idea why. Even worse is that I only provided them with by passport because my Canadian ID was expired so they wouldn't even know my country of citizenship if it wasn't expired. I have opened equity brokerage accounts with US brokerages before including TD Ameritrade and never had such problems.

I asked them to allow me to speak on the phone to compliance and was denied that as well. They definitely live up to their bad customer service reputation.

I did send a message to @AMP_Global so let's see what he says. Will keep you guys posted on if he does reply.

Anyway, if anyone has any recommendations for a discount US brokerage that accepts Canadian residents, please let me know.
 
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gambleditall said:
Hi,

I tried creating a new individual account with Amp Futures but they have declined my application for no reason.

I provided all the documents they asked and even offered to provide bank account statements and credit scores to prove creditworthiness if that was the issue.

The worst part is they will not even give me a reason to allow me to rectify the situation. All they say is that 'it was a business decision and no further information can be given' which makes no sense to me whatsoever.

Has anyone had such an experience with Amp before and if yes, how did you'll resolve it?
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Maybe try with Amp Euro?
 
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