Yes, without more details, we cannot blame AMP at this point. OP simply can move to IB or even bigger brokers. If he's kicked out again, then it might be his fault. Anyway, there's no 100% satisfying brokers in the world IMHO.....
Indeed. At this point he should take his $3,000,000 to a broker like IB. There he can be humbled and not be able to take on such asstastic risk with his monies. Him getting kicked out of AMP truly was a blessing for him, AND them. 400 combined open contracts on ES/NQ with 3 million...
Agreed, but if you want to be taken seriously then it would be highly advisable to provide an explanation why, if true, AMP did not provide a satisfactory explanation or opportunity to adjust to satisfy the agreement between client and AMP before closing an account. I can tell you with absolute certainty that this story alone, even if not further illuminated, would be a complete show stopper for me to ever consider or recommend your firm. Account closure without communicating with the client and/or without providing an explanation? No, thank you. Plenty other brokers out there. And if the statement by OP was incorrect then I would expect my broker to make this crystal clear and not have its reputation sullied. You have done neither and that is simply cringe worthy and does not reflect well on your firm.
This has happened before with some folks here in the past. "We obviously are not going to publicly discuss reason why we closed a customers account..." The OP can get his answers if he maybe calls them on the PHONE, rather than text text text through social media, or e-mails. Those avenues of communication are very impersonal. Try a phone call, and ask for a supervisor. And it seems you have addendum on your original post. Look man, here's the bottom line...Did you lose any capital when your accounts were closed? If so, maybe you can get that back from them. Otherwise, let it go and move on to someone else. I am sure OMM and Mattz will be happy to take your call.
I disagree. Moving on as is prominently suggested in today's society is exactly what got some actors to behave in whatever fashion they see fit, regardless of whether it's right and ethical or not. And I think OP made clear that he made his best effort to obtain an explanation through non public channels. AMP had and still has plenty choices. They could have ignored this thread, or could have stated that they can't talk about private information but that OP is incorrect and had been issued an explanation. They could have mentioned any of that and they still can. But what they have said SO FAR does not reflect well on how they deal with customers and prospective customers. Just my own opinion of course.
When I opened the account, the New Account manager asked me the meaning behind my email address, and how many people can access my account, and who are these people. WTF?? But..., side-by-side comparison, their fill quality for stop orders are consistently better than IB and NT Brokerage. One tick better for Crude Oil and ES, which is huge for daytrading. Since I use Ninjatrader platform exclusively, I don't have that many choice of brokers, so for now, I will stay with them, until I get too big. LOL.
It all works fine as long the auto liquidating risk management systems are connected to the exchange without any technical hiccups. The problems would happen when the RMS servers or exchange servers go down. Or have technical problems or outages for a protracted period. Or if the markets gap on reopen after going limit down intra day. $500 in this volatility is way too risky. It was less risky 3 months ago, when the ES daily range was 20 pts or whatever. When things were crazy a couple of months ago, with the VIX at 80. Margin rates at a firm like AMP should not have gone from $500 to just $1000, but $500 -> $5000. And currently be at $2500. And double those numbers for anyone trading size. Intra day volatility increases 10 fold. But margin rates only double?!?! That just doesnt make sense.
Every Customer is Valued. @J.P. sorry that we are no longer able to have you as a customer. We have our compliance criteria that we have to maintain, which we can not discuss. Please do not take it personal. We have opened thousands of new customers and only a very small % we are unable to accept. In order to get a balances view of our services, please scroll down and take a look at the section on our website "WHAT OUR CUSTOMERS ARE SAYING RIGHT NOW." - https://www.ampfutures.com/ There are thousands of actual customer positive feedbacks....
With all due respect but is this a joke? How is any customer able to take your services seriously? Fine, you can't discuss this specific case, I can appreciate that but when I started reading that "please take a look at the section..." I expected to see a reference to what trading styles and accounts your firm welcomes and which not. Instead you point everyone to some customer satisfaction surveys, which nobody can verify and are most always worthless? For me this is the end of the story, your brokerage was moved by me into the bucket broker section, the group to stay far away from. Sometimes negative experiences before trying a product are worth gold, potentially saving a lot of headaches, time, and cost.