AMP, how could you?

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

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  1. snowman80


    amp is not capitalized well enough to keep your account. you’re too big as % of their capital - they would have to pony up more risk capital to keep you as a client.

    and with recent volatility regulators are probably looking more closely at stuff like that.
    #31     May 21, 2020
    redart88, Primal Trader and J.P. like this.
  2. hilmy83


    brah, can i see a platfrom screenshot or statement with your $3mil account? i want to believe
    #32     May 21, 2020
    Fx-Game likes this.
  3. southall


    The reply (post 4 on this thread) from the AMP representative sort of gave the OP story some credence unless that reply was a stock answer. They cant have that many $3million account holders being closed. He would have called it as BS as this whole thing makes AMP look bad.
    Last edited: May 21, 2020
    #33     May 21, 2020
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  4. I have been trading since 95, and over a decade in futures with zero margin calls. Used a variety of brokers in both stocks and futures with no bad experiences, until I dealt with AMP compliance. With similar refusal for followup communications. It was the most bizarre "customer service" I have ever experienced in the trading world. I will not go into details, but now that I am with two other quality firms, despite the stress they caused me, I now see it as AMP compliance having done me a favor. I would rather pay a little more for top quality customer service. There are plenty of other well capitalized firms out there who will be ecstatic to have your business.
    #34     May 21, 2020
    TooEffingOld, S-Trader and redart88 like this.
  5. Could this be some other kind of compliance issue, us patriot act? money laundering issue?

    Oh, guess not you did say it was a "risk issue"

    So nevermind. .lol

    With that size account, why would you have any issue finding another
    firm and negotiate great rates?
    #35     May 21, 2020
  6. hilmy83


    It takes seconds to do. I mean he did write a 10 page thesis on his first post..why not just give us poor folks something to aspire to? I can print it up and jerk off to it #accountgoals
    #36     May 21, 2020
    Renzo likes this.
  7. J.P.


    I guess I'll have to. But I hesitate because it's so sad. AMP made me feel like I did something wrong when I know I would never.
    #37     May 21, 2020
    VPhantom likes this.
  8. [QUOTE="
    "Here's my best guess as to what happened:

    Limit orders were on the exchange and were being filled. Take-profit limit orders were also on the exchange and were not (yet) filled. I also had both buy and sell flattening orders that were not at the exchange but were lined up on the platform to be sent in case any of my take-profit orders were not filled within a short period of time (less than five minutes, 10 at the most). These platform orders were filled out and ready to go so that I could send them and be flat very quickly, regardless of the number and type of fills, in order for me to rapidly flatten my positions. If my take-profit exchange orders were filled these platform orders would not be sent. If any exchange take-profit orders were not filled select platform orders would quickly be sent to flatten my positions. That's it."

    Yea, I was with you all the way up to this part and then you lost me... This paragraph just doesn't make sense to me, I'm sorry. You started out coherent and switched to rambling.
    #38     May 21, 2020
  9. If you didn't get filled on your profit taking orders, couldn't you use the "flatten all" button
    instead of lining up more orders in the system?
    #39     May 21, 2020
  10. NQurious


    #40     May 21, 2020
    VPhantom, abc1234 and J.P. like this.
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