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Traders Union Experts Publish A Review Of AMP Global

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AMP Global, a futures brokerage firm under parent company AMP Futures based in Chicago, offers traders access to a range of global derivatives markets but comes with some drawbacks, according to a new review by Traders Union.

The Traders Union gave AMP Global an overall score of 5.14 out of 10 in its ranking of 383 brokers worldwide, placing it at number 87. The score is based on an analysis of over 100 criteria related to trading conditions, fees, account features, and customer protections.

As an active trading-focused broker regulated in Cyprus, AMP Global provides leveraged access to futures, forex, metals, energies, and other contracts for difference (CFDs). But its $100 minimum account balance and spreads from 1 pip make it more geared toward experienced users.

AMP Global’s trading conditions and account features

AMP Global’s brokerage services offer standard forex and CFD trading accounts for individuals as well as corporate accounts. For Islamic clients, it provides swap-free accounts that do not charge overnight interest fees.

The TU report noted that the broker sets a 50% margin closeout level and allows all trading strategies without limits on positions or volume. It charges floating spreads from 1 pip and leverages up to 1:100 on $100 minimum deposit accounts denominated in USD, EUR or GBP.

When trading futures, commissions per contract may apply depending on the exchange. AMP Global gives direct market access to over 10 major exchanges like the NYMEX and also enables trading multiple asset classes from a unified MetaTrader 5 account.

As a CySEC-regulated broker registered in Cyprus, AMP Global must keep client funds segregated from company assets for extra protection. Negative account balances are prevented, and the Investor Compensation Fund coverage provides up to €20,000 insurance. However, the Traders Union review noted limitations as “the regulator does not consider small claims of private traders.”

According to the published review, customers of AMP Global can make unlimited free withdrawals through bank transfer, Visa, Mastercard, WebMoney, Neteller, Skrill, and other methods. While e-wallets and cards see instant processing, bank transfers take 2 to 5 days to be credited. The experts also noted that account currencies for deposits and withdrawals are available in EUR, USD, and GBP. Some transaction fees of 0.5% to 3% may be charged by payment systems and banks.

Benefits and drawbacks

Advantages highlighted by the review include AMP Global’s CySEC license, the safety provided by the Investor Compensation Fund it participates in, and its wide range of tradable products across 7 asset classes. With access to over 60 futures trading platforms, Amp Futures offers extensive market access for futures traders. In confirming this, Densipaper noted in a review, based on Traders Union insights, about AMP Global: “The AMP Futures provides access to more than 60 futures trading platforms. It also offers a variety of tools and training materials to help you master trading. The platform features no inactivity fees and deep discount commission rates.” The broker also holds client funds in segregated accounts separate from company capital.

However, downsides pointed out include the $100 minimum deposit, an absence of zero-spread accounts, no micro or “cent” accounts for small traders, and a lack of trading contests, bonuses, or passive investment options like PAMM accounts. “Newcomers to Forex and adherents of passive income should choose other companies for cooperation,” Traders Union advised.

Expert analysis

“AMP Global positions itself as a reliable company for active trading. There are no passive investment options,” said Anton Kharitonov, the leader of the TU expert team who assessed the broker.

Kharitonov explained that for novice traders, the $100 minimum deposit and wider spreads make AMP Global’s conditions less suitable, though its unlimited free demo account can help test services. He highlighted that the CySEC license and Investor Compensation Fund coverage of up to €20,000 provide client protections.

The experts noted that AMP Global’s website is convenient for finding key trading information quickly and is available in 9 languages. However, more advanced traders may find little trading education resources, analytics, or news.

Free simulators help build trading skills

In addition to reviewing AMP Global’s brokerage services, the Traders Union report published on their official site also examined free trading simulators that can help build skills without financial risks. These platforms provide virtual balances of up to $100,000 for traders to practice strategies using real-time market data.

Leading options highlighted include:

  • RoboForex demo account: offers a $100,000 virtual balance but does not replicate all live account features.
  • Exness demo account: provides $10,000 to test strategies across multiple asset classes.
  •  eToro virtual portfolio: gives $100,000 to practice trading stocks, crypto and more.
  • Interactive Brokers TWS demo: funds $100,000 for futures, forex, and options simulation.

While simulated trading has limitations compared to real money accounts, these platforms allow for developing skills without fear of losses. Traders Union suggests choosing an unlimited demo account to seriously learn day trading strategies.

Key features to look for are generous virtual capital, real-time data, diverse product availability, advanced tools, and an intuitive interface. Leading simulators also provide useful educational resources.

Conclusion

For futures, Forex, and CFD traders seeking leveraged global market access, AMP Global provides a regulated trading environment but has higher minimums and spreads that likely make it better suited to experienced investors. Using a free simulated practice account can help build skills before placing real capital at risk. 

About the author

The author of this article is Oleg Tkachenko. At Traders Union, Oleg is involved in expanded reviews of brokerage companies, and in monitoring the relevancy of the information provided by them.

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