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I really don't appreciate your replies. You have established you are a extremely happy customer with AMP. Others have established they have received poor service or are unhappy with AMP.
Everyone is free to share their experiences on futures.io (formerly BMT), good or bad, so long as they are based on actual experiences.
Stop badgering people just because they don't share your views and be open to the fact that some people may have experiences different than your own.
I'm not sure this is what you were after, but there is a wealth of information at AMP on tap for any willing
to spend the time searching or ask the right people.
________________________
Explanation of the AMP currency conversion process and requirements:
What is the reason for currency conversions?
AMP has 10 different currencies available for funding a trading account: USD, EUR, GBP, CHF, CAD, AUD, HKD, JPY, NZD, SGD. This allows our customers from around the world deposit in their preferred currency. When a customer deposits in any of these currencies, the account’s “Base Currency” will be the funded currency type.
Trading P&L is always calculated in the currency of the exchange. For example all US exchange traded contracts P&L settles in USD. If a customer funds the trading account in USD and trades only US markets there'll be no currency conversions required, because the account base currency is USD and all the trading P&L is also USD.
If a customer funds the trading account with USD and trades European markets, the account base currency will be USD and the trading P&L will be in EUR. Because the trading P&L is different than the account base currency, on the trade statements - there will be 3 balances displayed on the bottom:
1) USD account balance (base deposit)
2) EUR trading P&L
3) Final USD account balance using an estimated EUR to USD conversion rate
An opposite example:
If a customer funds the trading account with EUR and trades US markets, the account base currency will be EUR and the trading P&L will be and USD. Because the trading P&L is different than the account base currency, on the statements - there will again be 3 ounces displayed on the bottom:
1) EUR account balance (base deposit)
2) USD trading P&L
3) Final USD account balance using an estimated USD to EUR conversion rate
These examples will hold true for all 10 available deposit currencies.
When does AMP process currency conversions?
1) Once a month, AMP covers all currency debit balances in our customer accounts, usually during the 3rd full week of the month. For example, if your base account balance in USD is 40,000.00 and your P/L balance in EUR is -10,000.00, AMP will convert an equivalent amount of USD to cover the negative EUR trading P/L. AMP does the conversions at prevailing bank rates for the time of the transaction. You will see these entries detailed on the daily statement as “FX Debit Balance Conversion.” If all currency balances are positive, (base account & trading p/l) there is no currency conversion required.
2) When a customer is withdrawing the account balance. If there is any trading P&L, in a different currency than the base account currency, it will need to be converted before the funds are released. For example, customer is withdrawing account balance. The account base currency is USD, but there were EUREX trades – p/l either positive or negative in EUR, the EUR P&L will need to be converted to USD in order to withdraw the full USD balance.
AMP has customers from over 100 countries around the world, the ability for us to accept multiple currencies for deposit we have found to be very useful for our customers. As always, our customers are the boss of their accounts and full control of all process. At any time our customers can request a currency conversion to any of the 10 available currencies of their choice. We are fully set up to manage multiple currencies per account - and will process any request to set up our customers account currency preferences.
If you have any questions, please do not hesitate to e-mail [email protected]
+10,their margins and commsions are top end, for a discount/retail shop for the small guy where are
you going to get it??
Name one that can give you that for putting down $500 for a futures account. They let me trade with $1000 per Cl car,others are double if not triple.
Name me one. People come into this market and expect the World and everything handed to them on a silver platter.
What have you put down to deserve top service????!!
GS,JPM will not even talk to you unless you got some serious cash to put down to play Futures at their level. We all know the level they and others play at.
I am speculating here,most of us cant even pick up a phone to talk to them based on our liquid assets much less whine or bitch about service.
As Cory says hate will just fuel more hate.
If its unjustified,you will get a tongue lashing. 2 cents.
You that AMP disserved are welcome to your viewpoints, I being a happy customer will support them.
IF they or for that matter any other broker has sub performed in their duties will get their just dues.. I personally have no qualms about it.
Its fair.
There are atleast two sides to a issue and it needs to be BALANCED.
BTW this site is based in the USA,and we will observe the Democratic tradtion,it has served us well.
If I find something bad about AMP,I will report it.
You should think back to the messages you sent me about AMP and what they were doing to you after you posted that you had CQG connection problems. I just re-read those messages just to remind myself that it was the same user (you).
It was quite clear by your messages that you had an extremely serious issue with Amp and the way they were treating you after you made your post on futures.io (formerly BMT).
I am glad you've had a complete 180 change of heart and you now love them and all that, but please appreciate that others may be experiencing today what you yourself experienced in the past. And hopefully they are not afraid of the repercussions of posting as you were.
The entire purpose of that is to keep you trading, keep you at the desk. Any one who offers $500 margins really understands the game, but anyone who uses it likely doesn't.
Yes, I know...... Dan was upset with me for raising hell about getting drops on CQG at the farm. I was trading
through an iPhone. We went through it all and I finally admitted that I shouldn't be accusing anyone of bad
data feeds when I'm trading through 3G. I posted all that stuff on one of those threads.
The key is ,we talked our way through it. He had my NT log and trace files gone through to see what was
going on. I'm fairly solid with computers, but I'm certainly no IT guy. He showed me the error of my ways
and I was man enough to admit I was an idiot for even trying such a fool harder venture.
CQG has been rock solid ever since I upped my game and got an office.