AMPfutures

To add some more accurate financial reporting info to this thread.

All US FCM reports their financial position daily by Noon CST - which is submit to both the CFTC and NFA.
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CFTC has view access to all Customers Segregated Accounts, so they can view in real-time the activities of the accounts.

We agree, if there was any type of insurance for our "Futures" Customers, we would make it available.
 
I also heard brokers which can handle both securities and futures/options (IB, TDA, Fedelity,...) are usually covered by stronger insurance than futures only brokers. Not sure though....
 
heispark said:
I also heard brokers which can handle both securities and futures/options (IB, TDA, Fedelity,...) are usually covered by stronger insurance than futures only brokers. Not sure though....
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Fidelity doesn't do futures.
 
Mr.Sir said:
Hi folks,

i recently discovered this obscure futures broker (AMPfutures) and have no clue about them. they are offering very low margin requirements but are they legit?

they don't seem FDIC/SIPC insured......what am i missing? should we worry about our funds?

thanks
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Years ago we heard stories of futures brokers getting into financial trouble. In most/all cases, it was from the broker abusing customer segregated funds in some way and having "things" go south. (I've had more than one broker go bad on me.)

Haven't heard much of that sort of thing in recent years. I presume it's because the regulators tightened policies on customer/segregated funds. Hopefully it's to the point that the broker can't do anything with that money except leave it on deposit with the bank. Assuming this is the case, then about the only thing that go wrong is customer trades losing too much money too quickly that the firm's net capital can't cover uncollectable debits. Odds of that seem quite low. Or if there is a theft of funds, of course.

Firms have an NFA requirement to maintain a certain "minimum net capital" based upon their customers' assets. Most FCMs have more net capital than that... "excess net capital". That seems to be a measure of "ability to cope with adversity"..... IOW, even if your broker is small but has a "excess/required" net capital ratio... say, 2:1, or 5:1... that makes the broker more robust.
 
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Overnight said:
BMO Harris Bank 111 W. Monroe Chicago, IL 60603. If you want to "check the balance", you just look at your trading software/statement It will show you how much equity you have. Does that help?
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Not if his concern is that the brokerage statements themselves could be fabricated, Madoff style. And if calls BMO Harris about "his" "account," BMO of course won't give him the time of day.

Scataphagos said:
need not waste time checking out Fidelity.
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Fido apparently thinks its clients are too dumb...

Investing directly in commodities or in commodity futures is extremely complicated and very high-risk. Both futures and physical commodities require high levels of expertise and technical savvy...
 
Here is more details on AMP, Since you asked ;)

Many FREE Trading Platforms - https://www.ampfutures.com/platforms/
No Inactivity Fees
$100 Account Minimum
Free Banking- ACH In & Out
No Volume Requirements
Low Day Trade Margins - https://www.ampfutures.com/trading-info/margins/
Free 24hr Real-time Customer Support
No Lifetime License Fees
40+ Trading Platforms
Free Trading Platform Education
No Platform Sales Pressure
4 Data Feeds Available.

Unlike other brokers that seperate their commissions from all the other per trade fees in order to try to make themselves look less expensive, we provide our customer Exact ALL-IN (All fees Included) Pricing - http://portal.ampclearing.com/account/commissionquote.aspx

For most trading platforms, once live account is funded with minimum of $100 – you will get streaming, continual access to both live and demo.

If you have any questions or need any assistance, please contact our 24 hour help desk in real-time via Phone or Live CHAT: https://www.ampfutures.com/contact-us/

We look forward to supporting you reach your trading goals!
 
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