I hope this is not the wrong place for this but I could not find a place to post about futures accounts. But this is important and members need to be aware.
I opened a very small account with Amp clearing/futures. My idea was to add more money as I was building my computer so tat eventually I would have a couple thousand in my account before trading.
On April 1, 2014 I made and they received my wire deposit of 500. I deposited 2 more of 99 and 100. A total of 699. On April 29 I requested a transfer of my funds to global futures, IMH,no better them AMP.
A this time I found out my balance was 485. None of the statements I got from Amp displayed any charges. I requested this from the help desk with no response.
I would warn anyone doing business with AMP and global Futures plus any broker doing business with and or through Global Futures.
I am willing to show proof if anyone is interested.
Craig
It might be in the wrong place, but if it is I hope they move it. Thank you very much. Even a low tech person like myself can do that. It’s nice when you can do something for yourself instead of asking your 13 year old son. Again Thanks a million for the post.
Best Wishes and Continued Success
Gp
As of todays date, which is May 18, 2014, I have not received any explanation from AMP about the money they took from me. I know $30.00 is a wire transfer I had done from them to MD Trading. I have filed a complaint with the Feds. as I told them I would if they refused to give me an explanation for the withdraws. So the $30… charge for the wire brought my balance down to $485. well I have the explanation for that money. That left me a balance of 515. minus that from the 699 that’s 185. not accounted for.
Its not much money but the point is was building up my account, to the limit of 2,000 a stated. how much would they have taken if I left my money in there, going by how they took out for a month with no activity in the account, I would have been at zero.
I’ve never had a bad experience with AMP and actually know a guy who works for them.
So you opened a live account but made no trades and tried to close it out and transfer?
You may have paid platform and/or data feed fees.
What platform were you using?
Only other thing I can think of would be to re-read the fine print of your contract.
I had ninja traders demo platform, if it were live I would have been paying them just like one does with MultiCharts. But the cashier with AMP couldn’t even tell me what the charges were for. This account was only a little over a month old. With a total of only 699, 184 in charges is excessive. not even the inactivity fees are that much.
None of the statements I got from them showed any type of fees or charges. Please know I am not here o put down any person or company. I m just explaining what happened to me .
When you were setting up the platform what check boxes did you tick?
Am sure the difference is from a service that you ticked and forgot or ticked without knowing what it
was.
Either way filing a complaint with the feds without a comprehensive explanation may not yield much.
just an update. I was contacted by by a Fed agent on Friday they wanted all the information concerning my complaint, so I emailed themed all the statements, emails, activity log,and their lack of,and the names of those who I communicated with on this.