AMP, how could you?

[heispark]

Or, it can be simply due to nationality of OP instead of his trading. U.S. sanction.... Iran, Saudi Arabia, North Korea, .... Check this out too.

 

[DarthSidious]

Or, it can be simply due to nationality of OP instead of his trading. U.S. sanction.... Iran, Saudi Arabia, North Korea, .... Check this out too. In this case, AMP also looks doesn't want to provide the reason.

Do you even read the thread before posting? He has a fucking ROTH IRA

 

[Overnight]

There were two accounts, a Roth IRA and a cash account. I traded 200 ES and 200 NQ in each, so it's 800 contracts combined. Very short term. Ninety percent of these trades were flat in less than five minutes win or lose; 100% were flat in less than eight minutes.

I mentioned it in another post here, and I will mention it again. Your open trade equity/NLV for the exchange exceeded the segregated account value of the whole firm. You are too big for them.

 

[tiddlywinks]

A possible tax avoidance/evasion situation also exists based on account types involved.

Lets not forget, IRS involvement with futures contract trading goes way back. it was in the days of Dan Rostenkowsky that 60/40 tax treatment came about because traders were straddling year-end positions, pushing taxation into the next year.

Does IRS oversight fall into the lap of a broker/fcm compliance department? IDK

I'll take a side siphoned from the IBKR evangelists... it's for the good of all AMP customers, and the firm itself.

 

[volente_00]

Doesn't AMP limit the $500 haircut to 10-lots max? He's not spoofing.

Not sure about Amp but i can bang 50 with $500 DTM and up to 100 with $1000 DTM

 

[destriero]

I don't know about this particular case
But from what I have tested in recent times, AMP is one of the best, if not the best solution for scalpers and day traders.
Low margins and low rates and an interesting choice of trading platforms
They always answer to any question

Except this one.

 

[destriero]

I think AMP is operationally-sound. There really isn't anyone else in the space that fills that intraday niche. You can run TT, CQG, etc. The problem is that their customer leverage precludes putting any serious money with AMP.

I've opened an account at AMP but have yet to fund it. Seemed sound for gamma-trading my vol-positions in index, but I always carry overnight risk, so it doesn't make sense for me to hedge outside the vol-account.

I wouldn't hesitate to trade 10% of my net liq with AMP if I went home flat each day.

 

[redart88]

Has anyone seen a number how much amp set aside for oil related losses?
I did hear that there are negative balances at amp...

You can look at AMP's daily CFTC filings. Since March you will see they have taken a hit with customers accounts in deficit. 3/2 the number was 142,352 on 4/21 902,865. Most likely from all the limit down action in equities and the oil collapse.

 

[redart88]

You've been on here since 2008 so you obviously have good knowledge . Why the hell would you put $3 mil with a tiny firm like AMP? Thats pure insanity .Nothing against Amp as i have a small amount there and there excellent but one big blowup like IB had and its lights out . I'm sure doing that much volume and account size you could negotiate overnight and daily margins,commissions with a well capitalized broker like advantage.

Yes, absolutely insane to have that kind of money with AMP. Like another post said they're doing this gentleman a favor. Move on, and do your homework on where to park that kind of money.

 

[redart88]

I think AMP is operationally-sound. There really isn't anyone else in the space that fills that intraday niche. You can run TT, CQG, etc. The problem is that their customer leverage precludes putting any serious money with AMP.

I've opened an account at AMP but have yet to fund it. Seemed sound for gamma-trading my vol-positions in index, but I always carry overnight risk, so it doesn't make sense for me to hedge outside the vol-account.

I wouldn't hesitate to trade 10% of my net liq with AMP if I went home flat each day.

A reasonable approach, as long as that 10% is not 3 million!