AMP Futures
Pros and Cons
Pros
- Regulated by NFA and CFTC in the United States
- Diverse trading instruments including Forex, commodities, indices, stocks, and cryptocurrencies
- Access to over 60 trading platforms with advanced features
- 24/5 multilingual customer support
- Competitive pricing structure with no inactivity fees
Cons
- High withdrawal fees for bank transfers
- Complex account opening process requiring extensive documentation
- Limited educational resources for novice traders
- No protection against negative balance
- Inconsistent customer support responsiveness
Basic Information
User Reviews
AMP Futures Overview
AMP Futures, officially known as AMP Global Clearing LLC, is a prominent futures brokerage firm based in the United States, specifically Chicago. Established within the last decade, AMP Futures has positioned itself as a key player in the trading industry, offering services to individual traders and introducing brokerages. The firm adheres to regulatory standards set by reputable authorities, ensuring a secure trading environment for its clients. The broker provides direct access to the global electronic futures markets, allowing traders to engage in diversified trading activities with confidence.
The offerings at AMP Futures include a wide range of trading instruments, primarily focusing on futures contracts, with access to over 60 trading platforms designed to cater to various trading styles and preferences. The platforms are equipped with advanced features and tools that enhance the trading experience, including real-time data and multiple data feeds. AMP Futures prides itself on its customer support, available 24 hours a day, five days a week, ensuring that traders can receive timely assistance. With its competitive pricing structure and commitment to client satisfaction, AMP Futures distinguishes itself as a reliable choice for those looking to trade in the futures market.
Is AMP Futures Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| National Futures Association (NFA) | United States | Segregated Funds |
| Commodity Futures Trading Commission (CFTC) | United States | Segregated Funds |
| Cyprus Securities and Exchange Commission (CySEC) | Cyprus | Segregated Funds, Investor Compensation Scheme |
Is AMP Futures Regulated and How Are Client Funds Protected?
AMP Futures, officially known as AMP Global Clearing LLC, is regulated by the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC) in the United States. Additionally, it operates under the jurisdiction of the Cyprus Securities and Exchange Commission (CySEC). This regulatory framework ensures that AMP Futures adheres to strict compliance standards and financial transparency, providing a secure and trustworthy trading environment for clients. Client funds are protected through segregation, meaning that client funds are kept separate from the broker’s operating funds. This practice helps safeguard clients’ assets in case of any financial difficulties faced by the brokerage. Furthermore, CySEC regulation typically requires participation in an investor compensation scheme, enhancing the level of protection for clients. Overall, AMP Futures presents itself as a regulated and safe choice for traders looking to engage in futures trading.
Trading Products and Services
What trading instruments does AMP Futures offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, Major & Minor Pairs | Varies |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Varies |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Varies |
| Stocks | US (e.g. Apple, Tesla), UK (e.g. BP, Vodafone) | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
AMP Futures offers a diverse range of trading instruments that cater to various types of traders, including beginners and experienced professionals. With access to key financial products across multiple asset categories such as Forex, commodities, indices, stocks, and cryptocurrencies, traders can implement a wide array of strategies. This broad selection not only supports the needs of different trading styles but also allows for effective portfolio diversification. By providing a comprehensive marketplace, AMP Futures enables traders to adapt their approaches to changing market conditions, enhancing their overall trading experience.
Account Types and Trading Conditions
What Account Types and Fees Does AMP Futures Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Individual Account | Individual traders | Commonly used by solo traders | Minimum deposit of $100 required |
| Joint Account | Two or more individuals | Designed for collaborative trading | Minimum deposit of $100 required |
| IRA Account | Retirement investors | Tax-advantaged trading | Available for U.S. clients |
| Corporate Account | Businesses | For corporate trading entities | Requires corporate documentation |
| LLC Account | Limited liability companies | For trading under an LLC structure | Requires LLC documentation |
| Partnership Account | Partnerships | For trading under a partnership | Requires partnership documentation |
| Trust Account | Trust entities | For trading under a trust | Requires trust documentation |
Account Opening Process
Opening an account with AMP Futures involves several steps. First, you need to provide your personal information, which includes your name, email, and phone number. Following this, you will submit employment and financial information to ensure compliance with regulatory standards. Identity verification is also required, necessitating a valid form of identification and proof of address. Once your initial account (either individual or joint) is approved, you can apply for additional account types. This flexibility allows users to upgrade to a professional account or manage multiple account types easily under a single client profile.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | Varies | $0 | Tight spreads available |
| Forex (Minor Pairs) | Varies | $0 | Tight spreads available |
| CFDs (Stocks) | Varies | $0 | Competitive pricing |
| CFDs (Indices) | Varies | $0 | Competitive pricing |
| CFDs (Commodities) | Varies | $0 | Competitive pricing |
| Cryptos (BTC/USD) | Varies | $0 | Variable depending on market conditions |
Other Fees
In addition to trading fees, AMP Futures may have other costs associated with trading. These include potential deposit and withdrawal fees, particularly for wire transfers, which incur a charge for withdrawals. There are no inactivity fees, which is beneficial for traders who may not trade frequently. The broker also does not charge platform usage fees. Overnight interest (swap rates) may apply to positions held overnight, and currency conversion fees could be applicable when dealing with accounts in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does AMP Futures Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 5 (MT5) | Windows, macOS, iOS, Android | 2FA, multiple order types, price alerts, technical indicators | Demo accounts, API access |
| CQG | Windows, macOS | Encryption, symbol lookup, one-click trading, economic calendar | Demo accounts, VPS |
| eSignal | Windows | Encryption, market depth, backtesting tools, price alerts | Online education, webinars |
| Hidden Force Flux | Windows | Biometrics, quick action alerts, advanced volume analysis | Demo accounts |
AMP Futures provides a variety of trading platforms tailored to different trader needs. The MetaTrader 5 platform is ideal for advanced traders with its comprehensive analysis tools and multi-device support. CQG offers robust features for professional trading, while eSignal is designed for those who require in-depth market analysis. Hidden Force Flux focuses on a streamlined interface for quick decision-making. Each platform supports secure logins, fast order execution, and real-time alerts, facilitating efficient trading and asset management across devices.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Wire Transfer | 3–5 business days | No platform fee | Min $100, Max $50,000 | USD, EUR |
| Credit/Debit Card | Instant | No platform fee | Min $100, Max $5,000 | USD |
| e-Wallet (e.g., PayPal) | Instant | No platform fee, but 1.5% charge | Min $50, Max $20,000 | USD |
| Cryptocurrency | Instant | No platform fee | Min $50, Max $10,000 | BTC, ETH |
Minimum Deposit
AMP Futures requires a minimum deposit of $100 for all account types. This amount is consistent across payment methods, ensuring accessibility for individual traders regardless of their chosen funding option.
How to Withdraw
To withdraw funds from your AMP Futures account, follow these steps: 1. Log in to your AMP Futures account. 2. Navigate to the ‘Withdrawal’ section of the client portal. 3. Select your preferred withdrawal method from the available options. 4. Enter the amount you wish to withdraw, ensuring it meets the minimum and maximum limits. 5. Confirm your withdrawal request. 6. Check your email for confirmation and updates regarding the processing of your withdrawal.
Customer Support
AMP Futures Customer Support Overview
Support Channels
AMP Futures provides multiple contact methods to ensure customers receive timely assistance. Traders can reach out via:
- Email: Send inquiries to support@ampfutures.com for technical support.
- Live Chat: Access the support team through the live chat feature on the AMP Futures website for immediate help.
- Telephone: Call toll-free at (800) 560-1640 or directly at (312) 893-6400. Phone support is available 24 hours from Sunday 5:00 PM CST to Friday 5:00 PM CST.
- Social Media: Engage with AMP Futures on their social media platforms for updates and support.
Service Availability
Customer support is available 24 hours a day, five days a week, ensuring traders can get help whenever they need it. Multilingual support is offered in English, Spanish, Russian, and Czech, making it accessible for a diverse range of clients.
Additional Resources
AMP Futures provides various educational resources, including:
- Pre-recorded training videos to help traders understand the platforms.
- Webinars on trading strategies and market analysis.
- Market insights and trading signals to support informed decision-making.
Frequently Asked Questions
AMP Futures protects client funds by adhering to strict regulatory standards set by the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC) in the United States. Client funds are kept in segregated accounts, ensuring that they are separate from the broker’s operating funds, which helps safeguard clients’ assets in case of any financial difficulties faced by the brokerage.
AMP Futures offers several types of accounts to cater to different trading needs, including Individual Accounts, Joint Accounts, IRA Accounts for retirement investors, Corporate Accounts for businesses, LLC Accounts for limited liability companies, Partnership Accounts, and Trust Accounts. Each account type has specific requirements and documentation that must be provided during the application process.
AMP Futures has a competitive pricing structure with no commissions charged on Forex and CFDs. The broker offers tight spreads on major and minor Forex pairs, and while there are no commission fees for stocks and indices, other potential trading costs may apply, such as overnight interest on positions held overnight. It is advisable to review the specific trading conditions for detailed information.
AMP Futures provides multiple contact methods for customer support, including email at support@ampfutures.com, live chat on their website, and telephone support available 24 hours a day, five days a week. Customers can reach a representative toll-free at (800) 560-1640 or directly at (312) 893-6400. Multilingual support is also offered for a more accessible experience.
Related Forex Brokers
Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.