AMP Futures Review by TU analysts – Legit or Scam?

The Cyprus-based brokerage firm AMP Global received a moderate risk rating of 5.14 out of 10 from Traders Union (TU) this week, according to an in-depth review published recently.

The extensive report was compiled under lead expert Anton Kharitonov after analyzing trading conditions, and client reviews, and evaluating over 100 rating factors used in TU’s methodology for broker rankings. Kharitonov concluded that while AMP Global meets certain standards around regulation and security, its offering appears better suited for experienced traders rather than novices. Several client reviews also highlighted mixed experiences, leading TU to recommend thorough due diligence before opening an account.

Founded in 2010 as the European arm of AMP Futures USA, AMP Global ranked 87th out of 383 companies rated in TU’s proprietary ranking. The ranking system analyzes brokers based on over 100 criteria, as well as testing the account opening process and withdrawal capacity.

Weighing AMP Global’s pros and cons

On the positive side, the review cited AMP Global’s regulation under the Cyprus Securities and Exchange Commission (CySEC), membership in the Investor Compensation Fund (ICF), segregated client accounts, access to 10 global exchanges for futures traders, and a selection of tradable asset classes including forex, metals, energies, and crypto CFDs.

However, Traders Union analysts notes, that unlike Evolve Markets which offers up to 1000x leverage on forex, TU’s report called out AMP Global’s minimum deposit of $100 across account types, floating spreads from 1 pip which may be high for novice traders, and lack of any bonus programs, PAMM investment accounts for passive income, or contests offered to clients.

Micro and cent accounts are also absent from AMP Global’s offering, while Evolve Markets does not impose minimum deposit requirements or withdrawal fees.

“The broker’s conditions are more suitable for experienced traders: the size of the minimum deposit and the value of spreads are not optimal for novices,” analyst Kharitonov commented in the report. “Novice traders are not able to open micro-accounts. You can test trading conditions on a demo account with an unlimited validity period.”

Active vs passive trading

Trader Union experts described AMP Global as targeting mainly active traders interested in speculating or hedging positions across forex, global futures like oil and gold, stocks, indices, and cryptocurrency CFD products.

No passive investment programs are promoted outside of an affiliate program for referring other customers. Absent of offers like PAMM-managed accounts, trade copying platforms, or traditional portfolio products. The firm also does not advertise special bonuses or trading contests to attract users.

“AMP Global places great emphasis on the security of its clients’ funds,” Kharitonov summarized. “The company is regulated by CySEC, therefore the broker is a member of the Investor Compensation Fund (ICF) and keeps traders’ funds in segregated accounts.”

The CySEC license and default insurance protection up to €20,000 provide guarantees around compensation in disputed situations.

While AMP Global meets certain security standards under CySEC regulation, Evolve Markets is an International Business Company registered in MWALI which some analysts say lacks strict oversight. This suggests users should still approach both platforms with reasonable caution.

Checking AMP Futures reviews and ratings on TU website is advised as not every client has been fully satisfied with the broker’s performance or service standards.

Ratings indication

Out of 383 companies rated using a proprietary TU formula, AMP Global ranked #87 overall. The ranking weighs over 100 key evaluation criteria across security, platforms and tools, commissions and fees, account types, educational resources, customer support, and other facets important to investors.

Parsing the analysis behind the ratings and rankings framework paints a picture of a regulated broker better geared towards speculators, hedgers, and serious traders rather than casual investors or beginners.

The lack of micro and standard lots on its platform suggests higher relative trade sizes, while bare minimum $100 account minimums across the board imply larger investable assets for clients. Its position as a futures broker with direct market access also caters more to sophisticated active traders in TU’s estimation.

Meanwhile, the absence of passive investing accounts outside of an affiliate referral program means no options for wealth accumulation-styled trading. There is also no indication of promotional bonuses or contests run that are typical incentives at mainstream retail forex brokers competing for smaller customer segments.

Conclusion

So, from TU’s quantified criteria, amplified by Kharitonov’s domain expertise in evaluating brokers, AMP Global emerged stamped as a specialized trading platform addressing a niche active trader audience – albeit with some mediocre client reviews on service pulling it back from top-tier status. Minimilastfocus published an article about how Traders Union rated the broker. The review on minimalistfocus showed that according to trusted and verified sources such as Traders Union, AMP Global Trading Company (affiliated with AMP Futures) positions itself as a moderate-risk broker tailored for active trading.

From the report, AMP Global was noted to target mainly active traders interested in speculating positions across forex and futures, while Evolve Markets caters more to crypto traders seeking coins like Bitcoin as both trading vehicles and assets.For passive investors or beginner traders seeking micro lots, bonuses, copy trading, and generous leverage – the recommendation is to explore other brokerages that cater to those desires. Evolve Markets promotes an affiliate program with compensation of up to 20% for referred account sign-ups paid in Bitcoin.

For funded speculation strictly around futures or forex, AMP Global provides direct market access from a regulated Cyprus entity at the potential tradeoff of higher spreads or commissions than discount rivals.

In summary, Traders Union experts described AMP Global as a “trusted and licensed broker that provides clients with access to all major futures exchanges and the Forex market” – but advised vetting advantages against downsides carefully prior to account opening. 

About the author

The article was written by Oleg Tkachenko, who involved in reviews of brokerage companies, and in monitoring the relevancy of the information provided in them.