When it comes to trading, AMP Global stands out as a multi-asset broker that offers an exceptional range of data feeds and competitive fees. In this AMP Global 2023 review, we delve into every detail, from login security to supported trading strategies. We'll explore why this broker is gaining recognition and whether it's the right fit for your trading journey.
Discovering AMP Global
Established in 2010, the AMP Global Group operates through two distinct entities:
AMP Global Ltd (Europe) – Regulated by the Cyprus Securities and Exchange Commission (CySEC).
AMP Clearing LLC (USA) – Regulated by the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC).
With its head offices located in Limassol, Cyprus, and Chicago, USA, AMP Global has been dedicated to bringing cutting-edge US trading technology and infrastructure to European traders.
Trading at Your Fingertips
AMP Global caters to retail traders with the popular MetaTrader 5 (MT5) trading platform. This powerful platform is available for free download to your desktop or can be used directly through web browsers. The features of MT5 are extensive, including:
- 21 Timeframes
- One-Click Trading
- Real-Time Signals
- Live Financial News
- Integrated Economic Calendar
- Advanced Market Depth Feature
- MQL5 Wizard for Auto-Trading Robots
- Up to 100 Charts Open Simultaneously
- Over 80 In-Built Technical Indicators
Additionally, AMP Global clients gain free access to StereoTrader, an MT5 plug-in offering:
- Automation and API Integration
- Algorithmic Grid Trading
- Real-Time Volume Mapping
- Scalping Terminal
- Sophisticated Trading Statistics
- Advanced Order Types
Placing a trade on MT5 with AMP Global is a straightforward process:
- Log in to your AMP Global customer dashboard
- Download the MT5 platform or use the WebTrader
- Select your desired asset from the dropdown menu or search bar
- Choose 'New Order' from the top navigation bar
- Enter position details, including volume and order type
- Select 'Buy' or 'Sell'
- Confirm the trade
Diverse Product Offering
AMP Global primarily focuses on exchange-traded futures, granting access to a wide range of markets, including:
- Singapore Exchange (SGX)
- CBOE Volatility Index (VIX)
- European Exchange (EUREX)
- Sydney Futures Exchange (ASX)
- Mini-Nikkei 225 Exchange (JPX)
- Chicago Mercantile Exchange (CME)
- Hong Kong Futures Exchange (HKEX)
- Comex Commodity Exchange (COMEX)
- New York Mercantile Exchange (NYMEX)
- Intercontinental Futures Exchange (ICE)
It's important to note that exchange-traded futures may require enabling within your account.
In addition to futures, AMP Global offers more than 100 instruments across six alternative asset classes, including precious metals, major company stocks, major and minor currency pairs, the world's largest stock indices, and digital currency USD crosses.
Transparent Trading Fees
AMP Global provides a transparent fee structure with spreads starting from 1 pip and a commitment to match or beat any written commission quotes from competitors.
Customers engaging in ETF trading may incur monthly data feed fees. These fees vary depending on the data source.
Retail investors can access leverage up to 1:100, but it's important to note that CySEC-regulated clients have different margin restrictions due to ESMA regulations:
- 1:30 for major currency pairs
- 1:20 for minor currency pairs, indices, and Gold
- 1:10 for commodities and equity indices
- 1:5 for shares
- 1:2 for cryptocurrencies
AMP Global ensures client protection with a 100% margin call level and a 50% stop-out level.
ETF Margin and Day Trading
Margin requirements vary depending on the specific futures contract and whether you intend to hold it overnight. AMP Global provides detailed information on maintenance and day trading margins to help traders manage their positions effectively.
While AMP Global doesn't offer a dedicated mobile trading app, traders can access the MetaTrader 5 (MT5) platform on their mobile and tablet devices. This provides the flexibility to manage your investments and execute trades while on the move.
Deposits and Withdrawals
AMP Global facilitates account funding through various methods, including bank wire transfers, credit/debit cards, and e-wallet services. The minimum deposit requirement is $100 or equivalent in multiple currencies.
For withdrawals, be aware of associated fees, which vary based on the method and currency used. The broker also offers a step-by-step guide for wire transfers on their website.
AMP Global's educational content is extensive, offering an in-built learning academy, 'how-to' videos, a blog forum, live and recorded webinars, and a community support forum. Additionally, an economic calendar is available to help traders stay informed.
AMP Global clients enjoy access to TradingView for charting and trading. This service is offered free of additional exchange data fees as long as futures trading is enabled in your client dashboard.
AMP Global Accounts
AMP Global provides one account type for all retail customers. While accounts are opened in EUR by default, users can create a new 'landing account' to change the account currency to USD, GBP, EUR, PLN, or RUB. The broker's account features include spreads from 1 pip, leverage up to 1:100, commissions, unlimited open positions, and a minimum deposit requirement of $100.
Opening an account with AMP Global involves several steps, including ID verification and the provision of personal and financial details. Be prepared to navigate through a comprehensive onboarding process.
Trading hours vary by instrument, so it's essential to be aware of the specific market hours for the assets you're interested in. This includes futures exchanges' individual closure dates, which may be impacted by public holidays.
AMP Global offers 24-hour trade and tech telephone support, as well as email and live chat options. Local hotline numbers are available for global reach, and their support representatives can assist you through remote desktop connection.
Security and Safety
AMP Global's regulatory oversight ensures adherence to industry-standard KYC, AML, and data privacy protocols. The MetaTrader 5 platform prioritizes security through encrypted data exchanges and industry-standard firewalls. Implementing two-factor authentication (2FA) is recommended for enhanced account protection.
AMP Global emerges as a solid choice for traders seeking access to futures markets, forex, and CFDs. With robust regulatory oversight and a commitment to price competitiveness, this broker caters to both beginners and experienced traders. While there is no dedicated mobile app and a complex account registration process, the benefits of trading with AMP Global make it an attractive option.
Pros and Cons
- Demo account
- 1:100 leverage
- Top-tier regulation
- Price match promise
- MT5 trading platform
- Swap-free Islamic account
- 24-hour customer support
- Low minimum deposit requirement
- No MT4 download
- No proprietary mobile app
- Deposit and withdrawal fees
- Limited range of instruments
- Lengthy account sign-up process
In summary, AMP Global offers a comprehensive trading experience for those seeking to explore a variety of financial markets. With its dedication to transparency and support, it's a broker worth considering for your trading needs.
AMP Global Broker Details
Disclaimer: - We at forexoverflow do not endorse neither refer anyone to trading broker websites. The information is for educational purpose and source of information is from the broker website.