In my 20 years of active market trading, I have never been turned down for an account. Nor have I ever been treated with such disdain. Just today, after months of back and forth for more and more data, from AMP futures they turned down my LLC account. This was after a very strange due dileigence phone call where the person from AMP expressed issues with my being a journalist. Wanted to know what would stop me from offering advice etc to others---- I replied what would stop anyone? It's very disturbing, exercise caution when trying to switch to AMP--don't waste your time going through the extensive process of getting approved. Many brokers are far easier, New Accounts to me show details 12:50 PM (1 minute ago) Thank you for your interest in AMP Global Clearing, LLC. At this time, we regret to inform you that your application for a futures trading account has been declined. Per our review, the information stated in your application does not meet our current risk parameters. Therefore, we cannot approve your application. We appreciate your interest in AMP Global Clearing, LLC. Regards, New Accounts AMP Global Clearing newaccounts@ampclearing.com 221 N. LaSalle St. 24th Floor Chicago, IL 60601 Warning: There is a risk of loss in trading. It is the nature of futures trading that where there is the opportunity for profit, there is also the risk of loss. Futures and forex trading involves a certain degree of risk, and may not be suitable for all investors. Derivative transactions, including commodities, are complex and carry the risk of substantial losses. Past performance is not necessarily indicative of future results. Please read additional risk matters on our web site, www.ampclearing.com. It is important you understand all the risks involved with trading, and you should only trade with risk capital. This communication is intended for the sole use of the intended recipient and is for informational purposes only. It is not intended as investment advice, or an offer or solicitation for the purchase or sale of any financial instrument.
I have to agree surf. I have opened an LLC account with 3 different brokers and have to say that AMP is the biggest pain in the ass. I won't go into details, but I have not had the same issues with other brokers that I have had with AMP.
So, after 20 years you finally gathered the courage and the cash to open a real money account, and AMP turned you down!. Hilarious. I'm getting this story into my comedy routine.
Agree. I have asked for a specific reason why in writing, but no response. I also have opened several LLC accounts in the past with no issues--- not sure if this is due to new regs or AMP itself is overly nervous about non issues for reasons not yet made public. surf