I don't know who you are, but it appears that you do not know of what you speak. This has nothing to do with your day trade margins.
All Account Details are Accurate and listed on the AMP website. Here is the list of the Margins: https://www.ampfutures.com/trading-info/margins/ Here is the link to AMP's Pricing: https://portal.ampclearing.com/account/commissionquote.aspx Here is the list of all 60+ Available Trading Platforms: https://www.ampfutures.com/platforms/ For Trading Updates/Notices: https://news.ampfutures.com/ For any other specific questions, please email trading@ampfutures.com
Hey amp, last week your margins were the highest of any firm I know of. So why not just answer the question and state your case as to why amp, apparently unjustifiably, doubled es overnight margin charges for their unfortunate customers while other firms and the exchange itself did not raise them at all? Was amp confused? Did amp simply make a mistake? Don't worry; if you promise to amend your ways we'll forgive you. Just fess up; *** the truth will set you free. --John 8:32 ***
We do not keep up with all firms, but from our knowledge, we were on par with the industry (see other FCM notice below). So now sure how to proceed with explanation, other than the margin requirements were updated due to the risk of extreme volatility. And looking back at the market moves, the increased margins matched the market conditions, so this was in our opinion the appropriate risk management action. For example, a notice from one of the firms @J.P. mention: "Unnamed FCM" has been closely monitoring the status of the British European Union Referendum ("Brexit" vote) taking place on June 23, 2016. Due to anticipated increased volatility, "Unnamed FCM" deems it necessary to increase margin requirements on certain cleared futures products. As of the close of business June 20, 2016, "Unnamed FCM" will raise margin requirements to the following percentages of Exchange minimums: Product/Group Margin Percentage British Pound - 200% Euro Currency - 200% Swiss Franc - 200% Japanese Yen - 200% Gold - 200% Silver - 200% European Interest Rates - 150% European Equity Indexes - 150% As of today's US open, AMP DayTrade Margins are back to normal, except the currencies. https://news.ampfutures.com/phase-2-post-brexit-vote-results-daytrade-margins-roll-back
And here is a specific platform message from ANOTHER "unnamed", from this morning. Bottom line, for me... since Tuesday evening, THIS "protection" has been in effect, and equates to a 700%+ increase in INTRADAY margin requirements for US index futures, MY bread and butter! I am an INTRADAY trader, and I applaud AMP for "trusting" their internal risk management systems, and reverting back to intraday margins so quickly. AMP has gained my respect, and at least three new clients/accounts in the coming days.