People with large accounts are happy about this.
AMP Global Application Requirements
- Thread starter gambleditall
- Start date
People with large accounts are happy about this.
Why they are happy about it ? only service for them ?
Less gamblers who lose putting their large accounts at risk.
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, mostof 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.
Got the same issue, but can't PM you as I've just registered account here. Could you please PM me? I want to clarify about reasons of application denial and solve them if it is possible. Thanks
AMP_Futures
ET Sponsor
@nysetrader1 - received your PM. Will research and provide you more details shortly
Thank you.
Pretty much just denied my wife with same but different worded message.
This was after asking for an updated bill which she sent. Why would you ask for a new bill then deny?
Makes no sense.
After performing our review carefully, we regrettably cannot continue with the account review process for your application. Your application will be declined.
We hope you understand that we do not comment our decision and regret that we cannot give you any other positive message.
Thank you for your interest in AMP Global Clearing, LLC
Compliance Team
This was after asking for an updated bill which she sent. Why would you ask for a new bill then deny?
Makes no sense.
After performing our review carefully, we regrettably cannot continue with the account review process for your application. Your application will be declined.
We hope you understand that we do not comment our decision and regret that we cannot give you any other positive message.
Thank you for your interest in AMP Global Clearing, LLC
Compliance Team
You've clearly gone over whatever "line" they deem to be a significant commercial risk. It might be something in your past. It might be a credit rating. It might be some sort of private blacklist in the industry. If you're a foreign resident it might be that margin call defaults from your country exceed an internal risk metric.
For example, I know places that will refuse to sell goods to foreign countries just because there's a far higher chance of mail fraud. Even if the sending company is proved to have sent the package, the cost of dealing of establishing a burden of proof that a package has been sent is exceedingly high. Dealing with credit card companies is often a fruitless exercise too - they usually err on the side of the buyer despite the evidence.
In a previous life before trading, there are certain companies/people/places I wouldn't do business with even if they paid me double or triple the going rate.
Returning to this: Futures margins due to volatility are much higher. This is not the time to take on higher risk clients.
For example, I know places that will refuse to sell goods to foreign countries just because there's a far higher chance of mail fraud. Even if the sending company is proved to have sent the package, the cost of dealing of establishing a burden of proof that a package has been sent is exceedingly high. Dealing with credit card companies is often a fruitless exercise too - they usually err on the side of the buyer despite the evidence.
In a previous life before trading, there are certain companies/people/places I wouldn't do business with even if they paid me double or triple the going rate.
Returning to this: Futures margins due to volatility are much higher. This is not the time to take on higher risk clients.
AMP_Futures
ET Sponsor
Yes, we follow all 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 unable to accept countries list.
We always keep this list updated here: https://support.ampglobal.com/hc/en-us/articles/360002809254-New-Accounts-RED-FLAG-COUNTRIES
We always keep this list updated here: https://support.ampglobal.com/hc/en-us/articles/360002809254-New-Accounts-RED-FLAG-COUNTRIES