AMP, how could you?

Discussion in 'Retail Brokers' started by J.P., May 21, 2020.

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  1. southall


    I read on the AMP website they require double day trade margins for accounts >$100K.

    Basically they are saying they consider any accounts over 100K as big.

    Seems you were a whale there.
    #21     May 21, 2020
  2. J.P.


    I guess so. I would decrease the size that I was trading if that was the issue and that's what they wanted. I just don't get it. Why won't they just state upfront what their policies are?
    #22     May 21, 2020
  3. JamesJ


    Has anyone seen a number how much amp set aside for oil related losses?
    I did hear that there are negative balances at amp...
    #23     May 21, 2020
  4. southall


    Cant have been that much otherwise the OP wouldnt be getting his $3million back.
    #24     May 21, 2020
  5. schizo


    Sounds like they caught you spoofing. Naughty you. :D
    #25     May 21, 2020
  6. hafez50


    You've been on here since 2008 so you obviously have good knowledge . Why the hell would you put $3 mil with a tiny firm like AMP? Thats pure insanity .Nothing against Amp as i have a small amount there and there excellent but one big blowup like IB had and its lights out . I'm sure doing that much volume and account size you could negotiate overnight and daily margins,commissions with a well capitalized broker like advantage.
    #26     May 21, 2020
    TooEffingOld likes this.
  7. J.P.


    Nah, thanks, but that's not it. It doesn't meet the criteria and besides with something like that you would be clearly informed as to exactly what the issue was.
    #27     May 21, 2020
  8. destriero


    Doesn't AMP limit the $500 haircut to 10-lots max? He's not spoofing.
    #28     May 21, 2020
  9. hafez50


    You based out of the US or foreign account?
    #29     May 21, 2020
  10. abc1234


    Has a Roth IRA = US Based
    #30     May 21, 2020
    J.P. likes this.
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