The commodity market is preferably one of the most happening aspects of the stock market! However, this ‘short-term long-term gain’ market type is for risky investors, limiting it to the seasoned professionals who understand their calls and strategies over the long term.
However, when you’re one, you might be confused with the type of service to go by. There are many confusing aspects to assessing any broker’s services, perhaps too many.
When thinking of options, there aren’t many. But with established brokers like AMP Futures, trading becomes more accessible. Being one of the leading platforms, it brings you the most features in the trading field. The platform is highly successful for its Future reports and its security aspects of it.
Wondering whether AMP Futures is the right platform for you?
Think no more, as this comprehensive review will be guiding you for the same. Here we will learn about what AMP Future is and the most important criteria that should be considered before signing up for the platform. Let’s get started.
Pros And Cons of AMP Futures
- The platform has a comparatively low trading fee compared to other traders and is highly recommended for beginners
- No inactivity fees in case of users not trading for months. The platform also has no withdrawal fees to it
- They provide a desktop platform and research tools that are very convenient and meet all the needs of experienced traders
- They provide educational materials, including videos and articles
- They usually charge a high wire withdrawal fee, and its platform is only available as a desktop application
- The product portfolio is thin. The platform is limited to supporting Futures and Options only
Affiliate Nation At A Glance
|Headquarter||221 N. LaSalle Street, 25th Floor, Chicago, IL 60601 USA|
|Specialties||Trading via COG Global Exchange Access|
|Amp Futures Employees Size||25 employees|
|Nature of Course||Trading for Profit|
|Platform Fee||30 $ per currency conversion|
|Customer Support||Online / Telephonic / Live Chat (24×7 availability ) Credentials:[email protected]: (800) 560-1640 Direct: (312) 893-6400|
|Legal Entity||AMP Global (Europe)|
AMP Futures: Company Overview
AMP Futures is one of the leading US-based brokers to enter the business. Found in 2009, the platform marks its successful operations for over two decades and currently provides its services to over 60 different trading platforms for seasoned professionals. In addition, the platform has long been touted as a thought innovator for providing its users with access to all the primary trading features and functionalities concerning futures and options.
Regulated by the CFTC (Commodity Futures Trading Commission) and National Futures Association (NFA), AMP also has its legal entity called AMP Global (Europe), providing users with the option to trade in CFD, forex, and futures trading. Over the years, the platform has set several trading standards to ensure a seamless trading experience for all stock market investors.
AMP Futures is considered a 100% safe platform for its banking background. In addition, the company is audited by the big four, and its financial information is publicly available every year. Finally, because of its team of individuals with years of trading and sales skills, the company is still up and running.
Besides, the platform has also earned its name around providing the users with the cheapest commissions, backed by excellent customer service that makes it incredibly reliable. Not to forget, the platform also offers future traders the liberty to negotiate their trades.
Key Features Of AMP Futures
AMP Futures is one of the leading Forward Markets Commission (FMC) based brokers to provide its services in the industry. The platform has introduced some unique features to simplify trade for users at all levels.
To give you an idea, we’ve explored some of the primary features available on the platform:
More Returns and Services in Less Investment.
Almost every trader wants to make the most of their investment. However, their limitation and understanding of the market limit them to either earning or losing their investment over future and options. But things are different over AMP Futures! The platform comes with a monthly data fee that provides future data with CQG.
This information, in turn, can be used to understand extended exchange data other than the account default, such as Cash Index Data and Foreign Exchanges. Besides, the platform also gives you information about all the bundles when you pay 30 $ per month. Hence, it falls under the best brokers.
Rewarding Referral Program
Referral programs are one of the most rewarding experiences for users signing up on any broker platform, and AMP Future is no expectation. Users signing up for the platform have access to a referral scheme where users receive a commission from the broker on every successful referral.
This ‘Affiliate Referral’ program over the platform allows users to make the most of their operations while giving them a chance to make some extra bucks off the platform. However, it should be noted that the rewards are ever-changing and generally depend on the country of registration or any ongoing offer over the platform.
Over 50+ Tools For In-Depth Research
The advanced charting tools present over AMP Futures are one of the platform’s primary aspects, making it a hit among seasoned traders. These tools help them make real-time assumptions for charting stock prices and, understanding future trades, maximizing investment returns.
Users signing up for the platform have access to over 50+ pre-built charting tools and indicators, allowing them to delve into custom studies of price movements. In addition, users also get access to several pre-built studies to understand the use of these trading indicators and concepts.
Being a new entrant in the stock market can be intimidating, especially if you have no access to any learning tool. In addition, when you’re new, you have an improved chance of losing all your money on insignificant trades that don’t align with the market sentiments.
However, things are different for beginners on the AMP Futures platform. With their access to a demo account, they can easily trade in a stimulative environment using fake cash that acts like real money. This way, they’re better prepared for the market and can test their charts and strategies in a controlled environment without facing any actual loss.
Additional Features Of The Platform
- Provides over 60+ trading platforms: AMP Futures is one such broker platform that provides its seasoned traders with access to over 60+ trading platforms. Some accessible platforms include Market delta, Sierra chart, MetaTrader 5, Investor RT, and CQG Trader. This way, users signing up for the platform have more options than any other average stock broker platform to settle with the platform that gives them the best results.
- Direct access to global markets: With its soaring popularity, AMP Future is going global, forging new and better connections with some of the major international exchanges and exotic markets. This way, the platform isn’t only improving its reach in the industry and providing a great base for its users. As more of these exchanges connect with AMP Futures, the platform will become more flexible with its trading and introduce its user to new and better tools and techniques, giving them maximum returns in the process.
- Educational Information: Stock education happens to be one of the most prominent aspects of learning for beginner users. However, not many broker platforms consider it as they function, based on the calls by advanced traders. But AMP Futures stands out in this aspect. The platform is an excellent fit for beginners as it provides free educational information for starters through their articles, videos, and live zoom video classes. This is more like a bonus feature, and all the users may avail of this to expand their knowledge.
- Helpful Visuals: For easy understanding of the market, AMP Futures visually project it through graphs, giving a 100% accuracy track. They have comparatively low trading fees compared to other traders; hence, they are highly recommended for beginners. Anyone can start up with an amount as low as 100 US dollars. Unlike other bodies that charge hefty amounts of inactivity fees, you don’t have to worry about the inactivity fees.
- Basic Training For Active Trading: AMP Futures uses a zoom webinar platform to host oral presentations and gives free access to everyone who is registered. It is necessary for future traders, be it expert or amateur, to have transparency, which is provided by such trading platform owners, as they are the ones who host seminars.
- 24×7 customers service: In terms of customer service, they are quick responders, and at times when an inevitable change in regulations or certain situations occur where traders need to be informed or notified, they make sure that they reach out to their clients personally, giving the traders the best experience in 24×7 service and proving AMP Future to be one of the best brokers in the industry.
How Secure Is AMP Futures?
Whether a financial provider like AMP Futures is reliable and legit is an essential and very legitimate question one can have. After all, you trust AMP Futures with your investment money and savings. It is a prevalent question; we get this asked several times.
One thing worth bearing in mind: all the brokers that you find on BrokerChooser are regulated by at least one reliable authority. However, things are different with AMP Futures! The (NFA) National Futures Association and the (CFTC) Commodity Futures Trading Commission regulate the platform. Not to forget, the platform also owns a legal entity based in the EU called AMP Global (Europe), which provides CFD, forex, and futures trading.
Over the years, the platform has set several trading standards to ensure a seamless trading experience for all stock market investors, working towards making itself a 100% safe platform. In addition, the platform has also made its financial information publicly available, removing any aspects of hidden or insider trades in the company.
All such factors, backed by updated security checks like the two-step login, disclose its financial result transparently and add to the overall safety and genuinity of the platform. Therefore, if you’re new to the stock market, you might consider signing up for the AMP Futures platform.
Fee structure is one of the compelling reasons advanced traders sign up over any trading platform! In terms of fees for AMP Futures, there is a data fee that you have to pay monthly, and they provide you with your future data with CQG.
The platform revolves around volume-tiered and flat rate fee structures. While both the structures are unique and designed for different types of users, the flat rate structure requires users to deposit a higher minimum.
Here’s a tabular presentation of the trading fees on the platform:
|S&P 500 micro & e-mini futures (Cost per contract)||$0.44 – 0.41 (based on the traded contracts)||$0.42|
In addition, the AMP Futures stock index charges a futures commission of 10 contracts. Here’s a detailed overview of the fees charged based on contracts entered in per year:
|Instruments||<1000 Contracts||Over 1001 – 4999 contracts||From 5000- 9999 contracts||>10,000 contracts|
|FTSE 1000 index||£1.16||£1.01||£0.91||£0.81|
|Micro e-mini & S&P 500 index||$0.44||$0.43||$0.42||$0.41|
The platform won’t charge anything on inactivity, ACH withdrawal, or fund deposit. But you must know of the high wire withdrawals at a $30 fee per transaction.
AMP Futures also provides access to multiple traders like CQG, which offers comprehensive exchange data other than the account default (major US Exchanges) such as Cash Index Data and Foreign (Non-US) Exchanges. Customers will have all available CQG data to select from the Customer Portal with all current additional pricing. Market data fees for each month will be charged to your account during the first week of the subsequent month. Partial month subscriptions will be charged at the entire month’s rate.
Besides, you have to pay for whatever you require to get the actual market data of your index futures, currency futures, or metal futures. They also give you information about all the bundles when you pay 30$ per month. So it falls under the best brokers in terms of fees.
Account Opening With AMP Futures
Signing up for the AMP Futures platform is simple. Once on board, you need to follow the given steps to get started.
Step 1: First, go to https://www.ampfutures.com/
Step 2: Click on “open account” at the top of the page.
Step 3: Click on open account now on the right of the page beside the log-in option, which will open up a brand new account.
Step 4: Choose the type of account you want, like an individual account or IRA where you can get more tax benefits or joint, corporate, LLC, depending on your needs and consultation through your accountants.
Step 5: Read all the details about the electronic signature and risk disclosure agreement.
Step 6: Click on begin the application.
Step 7: Fill in all the information required to open the brokerage account, then click on create an account.
Step 8: You will receive an email confirmation form that your application is being processed and another email notification to fund the account later.
Once done, you can log in using your credentials; at the top of the page, an option is shown as banking. Upon clicking, there will pop up a button called wiring instructions which will open up a new window and provide you with instructions.
The platform had mixed reviews of its performance from reputable review websites. Users are happy and dissatisfied with the experience over the Amp Future platform. However, for most of it, it is considered a very transparent platform, with courses and genuine products.
The platform has a majority of positive reviews based on its partner program. Amp Future has hands down the high-quality coaches and provides a smooth system to help you get started with futures trading. In addition, the company has excellent leadership willing to help you directly via WhatsApp or calls, not just on zoom, providing very close mentorship.
However, customers also complained about its limited portfolio and the unavailability of stock trades. But, looking at the platform’s success, chances are that we might get to see the platform selling.
AMP Futures Vs. Competition
Looking at the wide range of features and trading functionalities offered by the AMP Futures platform, it’s evident that the platform backs its users with several features and functionalities. Therefore, users signing up on the platform can make the most of their trade with the functions. Besides, the numerous regulations by several financial bodies and a competitive fee structure make the platform a great option.
However, similar to its great features, the platform also has complaints concerning limited trading classes. Therefore, if AMP Futures doesn’t look like an ideal fit for you, let’s evaluate its performance compared to its primary competitor Tradovate.
AMP Futures vs. Tradovate
Both AMP Futures and Tradovate have similar features and functionalities, allowing the users to make the most of their stock trades. Besides, both are equally reliable in terms of safety and security. However, there are a few differences in the platform, and we’ve tried to provide you with a detailed comparison between the two platforms in the following section.
- Minimum deposit: AMP Futures takes the lead here as users can get started with their trading with $100. In comparison, users of the Tradovate platform need to deposit around $199 to $350 (depending on the account type) to get started.
- Withdrawal Options: Both the platforms are unique with their withdrawal methods as AMP supports wire transfers and Tradovate accepts withdrawals in ACH. However, AMP Futures doesn’t charge much on wire transfers.
- Beginner-Friendly: Even after all the complex features in its forte, AMP Futures is designed keeping in mind beginner users as well. However, you can’t say the same about Tradovate.
Looking at the short but insightful review, it’s evident that both AMP Futures and Tradovate provide their users with a reliable trading experience. However, AMP Futures takes the lead with its low fees and minimum deposits to get started.
Should You Consider Using AMP Futures?
Yes, you can! With so many features and functionalities on Future and Options trade, it’s evident that the platform goes a long way to ensure a seamless trading experience. Therefore, you can consider signing up over the platform for any of these reasons:
- Ideal For Beginners and Seasoned Traders: AMP Futures is a good option for seasoned traders, thanks to the features and active collaboration with multiple trading platforms. However, the clean UI and several learning tools also stand out for beginners.
- Comparatively Lower Fees: One of the primary reasons to sign up for AMP Futures is its competitive fee structure for trading in such stocks. Therefore, if your portfolio is limited to trading in F&O, this is the perfect option to trade cost-effectively.
- Access To Advanced Trading Tools: The platform has access to over 60+ drawing tools and some of the most advanced charts in the industry.
- Transparent & Regulatory: Thanks to its banking background, the platform is transparent and public about its books and data. This allows users to trust AMP Futures with their money.
Shortcomings Of AMP Futures
Similar to the pros, there are also some drawbacks to the platform. Here’s an overview of the same:
- Limited To Futures & Options Trading: The conventional stock market trader considers the F&O class risky. Therefore, AMP Futures isn’t your option if you’re one of the investors.
- Wire Transfer Fees: Although AMP has low trading fees, it has high wire withdrawal fees.
This marks the end of our AMP Futures stock broker review! Considering the insightful review, it’s evident that the platform has several tempting tools and features on offer. Besides, the added security measures make it a great hit among professionals. However, similar to its perks, the platform has some drawbacks.
Therefore, if you’re an everyday trader looking to invest in stocks, AMP Futures might not be your option. Instead, we suggest you look for a different alternative for such a purpose. All the best!
Q1. How do you withdraw money from AMP futures?
Withdrawing money from AMP Futures is easy. You need to put in your account information and access the given options of either ACH or wire transfers for getting the funds.
Q2. I am a beginner, can I start F&O trades?
No, it’s strictly advised to first learn about the stock market, understand the movements, and then only get started with trading in Future & Options. If not, you’ll have a great chance of losing all your money.
Q3. Has AMP Futures ever been hacked?
No, there have been no reported incidents of any platform hacking. Besides, given its banking background, there are hardly any chances of the platform getting hacked.