Unveiling The Truth: AMP Futures Review By Traders Union Experts

A recent report by Traders Union experts provides a detailed examination of AMP Global’s offerings, highlighting its position in the market and its appeal to various types of traders.

AMP Global received a moderate risk rating of 5.14 out of 10 from Traders Union (TU) in the report. TU expert Anton Kharitonov recommends users thoroughly research the pros and cons before opening an account, as client reviews show mixed satisfaction levels.

The detailed analysis covered trading opportunities, client reviews, account opening procedures, and over 100 other evaluation criteria. Out of 383 brokerages rated in TU’s proprietary ranking system, AMP Global placed 87th.

TU categorises AMP Global as better suited for active professional traders rather than newcomers or passive income seekers. The brokerage is affiliated with Chicago-based AMP Futures and established its European arm specifically to serve non-North American clients in 2010.

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Regulation And Client Fund Security

As a cyprus securities and exchange commission (CySEC) licence holder, amp global complies with european regulatory standards the brokerage is also a member of cyprus’ investor compensation fund (ICF) scheme.

This ICF membership insures eligible client funds up to €20,000 held in segregated European bank accounts fully separate from company capital. Account segregation helps prevent potential misuse. Additionally, the brokerage adheres to pan-EU MiFID regulations.

However, TU experts note that CySEC rarely considers minor private trader complaints below their threshold.

Trading Conditions

While professionals may find them reasonable, TU analysts described AMP Global’s minimum $100/€100/£100 deposit and lack of “cent” accounts as unfavorable for beginner users. Maximum leverage sits at 1:100 across account types.

No micro or “cent” accounts catering to small deposits and trade sizes are offered currently. This contrasts with TU’s top-rated brokers that attempt to accommodate all capital levels.

The brokerage website and MetaTrader 5 platform provide market access to 7 asset classes – exchange-traded futures, forex, metals, energies, indices, stocks, and crypto CFDs. Spreads start competitively from 1 pip but typical quotes were unnamed.

As an active trading brokerage, AMP Global does not offer managed account services to generate passive income for clients. Social trading platforms and investment portfolios are also absent from its product lineup.

The only passive income option is an affiliate program rewarding client referrals. However, partners cannot provide trading recommendations or advice without appropriate licensing. To enhance your understanding you can get success tips from Traders Union experts.

Compared to top-ranked brokers, the lack of innovative passive trading options likely contributed to AMP Global’s moderate risk rating. TU also highlighted a lack of auto-trading robots, trade copying platforms, and investment portfolios.

Free demo accounts allow unconditional practice trading using virtual funds. AMP Global’s multilingual 24/5 customer support and proper CySEC licensing received praise from the analysts. However high-quality analytics and training materials remain lacking.

Account Types And Commission Fees

Standard trading accounts are geared towards mainstream clients using the MetaTrader 5 platform. Tailored corporate accounts are also available with similar spreads.

Islamic swap-free accounts remove overnight swaps to comply with Sharia law. Unlimited demo accounts enable platform and condition testing using paper money.

Spreads reportedly start from $10 commission per lot, equating to 1 cent per share on stock CFDs. This relatively high brokerage commission formed a key negative finding from TU.

Additional futures exchange fees apply on certain markets but no withdrawal fees are charged. By comparison, TU categorised competitor commissions as medium (Pocket Option at $2.50) and low (RoboForex at $1).

Furthermore, external banks and payment systems levy deposit and withdrawal charges ranging from 0.5% to 3% per transaction. These combine to make AMP Global an overall high-cost brokerage.

Trading Access And Tools

Proprietary platforms were absent but customers can access AMP Global’s servers using the popular MetaTrader 5 platform or WebTrader web interface.

Mobile access is enabled across iOS and Android smartphones and tablets using these responsive platforms. One-click market execution is offered with all trading strategies and systems supported with no restrictions.

Notably, the brokerage furnishes direct market access to over 10 global derivatives exchanges. All asset classes can then be traded from a consolidated MetaTrader account if desired.

Useful market analysis tools are provided including economic calendars, exchange hours, and an analyst blog – but TU desired more extensive education. Support resources were limited to video tutorials, webinars, glossary, and basic FAQs.

Customer support is available round-the-clock on weekdays in multiple languages through online chat and phone channels. However, a lack of weekend assistance may frustrate traders aiming to resolve Friday issues.

Positive safety aspects highlighted included CySEC licensing, ICF protection, and segregated client funds.

However, the regulator’s focus on institutional disputes leaves retail traders relying mainly on costly legal action for restitution. In this article on newsbtc says that Traders Union reviewed AMP Futures and reveals an overall score of 5.82 out of 10.0, placing 70th in the TU Ranking 2023.

AMP Futures – Conclusion

Considering both strengths and weaknesses, TU ranked AMP Global as moderate risk – better suited for active professional traders than inexperienced investors seeking passive income. While the brokerage checks boxes for regulation and security, high costs and mixed client reviews remain issues compared to top rivals.

TU advised all prospective clients to research carefully before committing funds.

Author Bio: The author of this article, Oleg Tkachenko, specialized in expanded reviews of brokerage companies, and in monitoring the relevancy of the information provided in them.

Disclaimer: The above references an opinion of the author and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice. Invest responsibly and never invest more than you can afford to lose.