AMP Account balances exceeding 100K, double day trade margin

Discussion in 'Retail Brokers' started by SabreMan, Jul 13, 2021.

  1. Millionaire

    Millionaire

    OK, fine if all other customers are happy, who am i to suggest a better approach:

    But this is how it works now (using NQ as an example):

    50K, you can buy 50 lots
    80K, you can buy 80 lots
    90K, you can buy 90 lots
    100K, you can buy 100 lots
    120K, you can buy 60 lots
    140K, you can buy 70 lots
    160K, you can buy 80 lots
    180K, you can buy 90 lots
    200K, you can buy 100 lots
    250K, you can buy 125 lots
    300K, you can buy 150 lots

    Below is what i was suggesting the approach should be:

    50K, you can buy 50 lots
    80K, you can buy 80 lots
    90K, you can buy 90 lots
    100K, you can buy 100 lots
    120K, you can buy 100 lots
    140K, you can buy 100 lots
    160K, you can buy 100 lots
    180K, you can buy 100 lots
    200K, you can buy 100 lots
    250K, you can buy 125 lots
    300K, you can buy 150 lots

    This is actually less risky for AMP. As it encourages customers like me to keep over $100K in the account, for the same level of risk to AMP. At the moment i will just withdraw the money each time my account goes above 100K, as i do not want my buying power to go down.

    But I agree, it might be more difficult to explain to customers how this rule works and harder to implement in your back office.
     
    Last edited: Jul 18, 2021
    #21     Jul 18, 2021