AMP Global Application Requirements

You simply do not understand. This is a compliance issue that we as forum readers know nothing about. Would you like AMP to get fined? sanctioned? worse?

AMP is on our side.

ES

P.S. I do not speak for AMP and these are just my opinions. Obviously AMP cannot contribute to this thread and disclose private matters with clients which is really unfair but this is the world we live in. Their compliance is strong and they do not post opinions which I am grateful for.

nooby_mcnoob said:
I agree w/ Pedro, why treat legal status as a second class status. AMP, do a little more research and give the guy a break. More than likely, his $5K will go to you as commission anyway!
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It is devastating to a trader for his application to be a client denied with any firm. AMP has clearly risen above many of its competitors and offers the best deal to retail Futures traders in my opinion. There are other choices out there but I feel badly for those traders who are denied for some technical reason. I cannot imagine it is a forever type of of ban though. I think each 6 months is the threashold to apply but I can be totally wrong about this (maybe its 5, 7 or 10 years).

ES

P. S. I am thankful to have an account at AMP and they have been very good to me. I am but a speck of sand. Do you know the size of accounts they have?....it is astronomical. I think they could weed out a lot of dead wood and increase their margin which could possible be next on their to-do list...I hope not.

P. S. S. Small accounts must be a pain in the ass for brokerages. They are usually high maintenance requiring a lot of expensive phone support for novice traders.
 
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ElectricSavant said:
It is devastating to a trader for his application to be a client denied with any firm. AMP has clearly risen above many of its competitors and offers the best deal to retail Futures traders in my opinion. There are other choices out there but I feel badly for those traders who are denied for some technical reason. I cannot imagine it is a forever type of of ban though. I think each 6 months is the threashold to apply but I can be totally wrong about this (maybe its 5, 7 or 10 years).

ES

P. S. I am thankful to have an account at AMP and they have been very good to me. I am but a speck of sand. Do you know the size of accounts they have?....it is astronomical. I think they could weed out a lot of dead wood and increase their margin which could possible be next on their to-do list...I hope not.

P. S. S. Small accounts must be a pain in the ass for brokerages. They are usually high maintenance requiring a lot of expensive phone support for novice traders.
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I agree with that last statement. But in my case at least, I am opening a small account initially and then once I am comfortable with the tools, I will be committing a much larger amount. One cannot expect their clients to commit 100k when they have no experience with the brokerage. And also, they always have an option to keep a minimum if they really don’t want small accounts like some other brokerages.
 
Hello all. We abide by the same requirement as all regulated firms.

Yes, there is a specific list of countries:
https://support.ampglobal.com/hc/en-us/articles/360002809254-New-Accounts-RED-FLAG-COUNTRIES

This list has been constructed based the Compliance Department has deemed the risk level of these countries to be too high. The FATF list, their recommendations, US sanctions as displayed on the US Treasury website, US State Department website, and various sources of news and opinions of numerous experts were taken into consideration by the Compliance Department in the making of this list.

We process all account applications and approve all that meet the verification requirements.

We are very happy with our business operations, most ;) of our customers (regardless of account balance). So do not worry about AMP changing our business operations - we always try out best to put ourselves in our clients/traders perspective....markets are tough, anything we can do to support our customers - we will do it!

We have done everything within our power to provide all traders with professional grade trading solutions, excellent customer support, super low day trade margins and commissions.

It is very true, we are here to help. If you want to request an additional review of your application, please do not hesitate to PM.
 
ElectricSavant said:
It is devastating to a trader for his application to be a client denied with any firm. AMP has clearly risen above many of its competitors and offers the best deal to retail Futures traders in my opinion. There are other choices out there but I feel badly for those traders who are denied for some technical reason. I cannot imagine it is a forever type of of ban though. I think each 6 months is the threashold to apply but I can be totally wrong about this (maybe its 5, 7 or 10 years).

ES

P. S. I am thankful to have an account at AMP and they have been very good to me. I am but a speck of sand. Do you know the size of accounts they have?....it is astronomical. I think they could weed out a lot of dead wood and increase their margin which could possible be next on their to-do list...I hope not.

P. S. S. Small accounts must be a pain in the ass for brokerages. They are usually high maintenance requiring a lot of expensive phone support for novice traders.
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Yes, my friend, only God's knows how many years I've been waiting for this moment, to finally open a trading account for futures. It was in 1996, as a undergraduate student in economics and finance when I bought my first book in the field: "John C. Hull Options, Futures and Other Derivatives" in downtown, I have the honour to meet him here in Toronto last year, great guy, brilliant mind.
 
AMP_Global said:
Hello all. We abide by the same requirement as all regulated firms.

Yes, there is a specific list of countries:
https://support.ampglobal.com/hc/en-us/articles/360002809254-New-Accounts-RED-FLAG-COUNTRIES

This list has been constructed based the Compliance Department has deemed the risk level of these countries to be too high. The FATF list, their recommendations, US sanctions as displayed on the US Treasury website, US State Department website, and various sources of news and opinions of numerous experts were taken into consideration by the Compliance Department in the making of this list.

We process all account applications and approve all that meet the verification requirements.

We are very happy with our business operations, most ;) of our customers (regardless of account balance). So do not worry about AMP changing our business operations - we always try out best to put ourselves in our clients/traders perspective....markets are tough, anything we can do to support our customers - we will do it!

We have done everything within our power to provide all traders with professional grade trading solutions, excellent customer support, super low day trade margins and commissions.

It is very true, we are here to help. If you want to request an additional review of your application, please do not hesitate to PM.
More...

Thank you so much, really appreciate the information.

God bless you all,
 
I have this from @AMP_Global:

"Hello all. We abide by the same requirement as all regulated firms.

Yes, there is a specific list of countries:
https://support.ampglobal.com/hc/en-us/articles/360002809254-New-Accounts-RED-FLAG-COUNTRIES

This list has been constructed based the Compliance Department has deemed the risk level of these countries to be too high. The FATF list, their recommendations, US sanctions as displayed on the US Treasury website, US State Department website, and various sources of news and opinions of numerous experts were taken into consideration by the Compliance Department in the making of this list.

We process all account applications and approve all that meet the verification requirements.

We are very happy with our business operations, most ;) of our customers (regardless of account balance). So do not worry about AMP changing our business operations - we always try out best to put ourselves in our clients/traders perspective....markets are tough, anything we can do to support our customers - we will do it!

We have done everything within our power to provide all traders with professional grade trading solutions, excellent customer support, super low day trade margins and commissions.

It is very true, we are here to help. If you want to request an additional review of your application, please do not hesitate to PM."
​
The country where I come from is not in the first group:

"AMP shall NOT open accounts that are based in the following countries until further notice:"

Therefore, that is good news then.

Thank God my Lord.
 
pedro0309 said:
But again, I live in Canada, Toronto, not on any of those countries. I abide by the laws and rules of Canada.
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You a legal resident of Canada or a dual citizen of Canada / country in South America ?

How does the broker know you're from South America regardless to where you're now living (Toronto, Canada) ?

Lastly, do you have a 2nd home in South America while you're living in Canada ?

Note: I know the above is private info. Simply, you're not required to answer nor respond.

wrbtrader

Edit: I didn't realize you were posting about this issue in another thread. You responded to my question elsewhere (thought it was the same thread).

pedro0309 said:
I only have one citizenship, not Canadian, I am living in Canada, Toronto for almos 3 years, refugee claimant status, that is legal status.

I sent them Canadian government issue ID where it shows my citizenship from another country. The only one I have.
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Most likely they would have made their decision on the country you're from (citizenship or born)...not the country you have refugee claimant status.

Brokers are getting more picky these days. I've seen more threads or messages online by traders being declined for a trading account. Funny thing is that I know a few Japanese traders residing in South America with 2nd homes in the U.S.

They too were declined with other brokers. They then apply at another broker and didn't mention anything about South America and only used their info from the U.S....their accounts was approved.

wrbtrader
 
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