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AMP Global is a group of companies. AMP Global LTD (Europe) is run by AMP Global Group. It is a Cypriot Investment Firm that is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 360/18. In accordance with the Market in Financial Instruments Directive (MiFID), client funds are held in segregated bank accounts and are insured by Investors Compensation Fund (ICF).
The AMP Global product portfolio consists of currency pairs, commodities, indices, cryptocurrencies, ETFs, and shares.
Customers can trade through the industry standard platform – MetaTrader 4 (MT4), as well as the next version – MetaTrader 5 (MT5). MT5 was created as a more advanced and powerful version of MetaTrader 4, the classic forex platform. It includes the new programming language MQL5, which offers high-speed execution of orders and helps to create trading systems with complex logical conditions. It is a multi-asset platform that offers various tools for advanced price analysis, use of algorithmic trading applications (trading robots, expert advisors) and copy trading. The company has developed a new plugin for MT5 called StereoTrader, which can be added to the platform for free.
AMP Global offers one trading account for all clients regardless of the deposits or trade volume. So, all clients receive access to premium trading conditions and deep liquidity, the company says. AMP Global welcomes automated trading strategies, scalping and news trading. The spread for major currency pairs starts at 1 pip. In addition, there is a swap-free Islamic account. The minimum deposit amount is USD100. Funding methods include bank transfer, credit cards and e-Wallets such as Neteller and Skrill.
There is a large Learn section on the website where you have access to articles about futures, forex, CFDs, some webinars and How-To videos.
The Client Agreement document shows that retail clients are covered by negative balance protection but only if they trade CFDs. If they trade ETFs, they can lose more that they have in their account. It is written: “Customers understand that trading on margin involves a high degree of risk. When trading CFDs the customer is protected from negative balance, thus he may lose the entire deposited amount but not more. Customer understands that trading in futures may result in a loss of funds greater than the amount Customer has deposited in Customer’s account, for which he shall be deemed liable.” The same document reveals that all orders are subject to slippage and during the periods of higher volatility orders can be filled at the first available market price. The same document informs that AMP Global and its Affiliates shall act as agents on Customer’s behalf, unless otherwise confirmed. However, AMP Global and its Affiliates are authorized to execute Customer orders as principal. AMP Global may utilize another executing broker, including an Affiliate or a non-affiliated third party, to execute Customer orders. That means the company acts as a Straight Through Processing (STP) broker but as a market maker as well and the conflict of interest exists. The Order Execution Policy document shows that It is noted that slippage can occur also during stop loss, take profit, and other types of orders. The company does not guarantee the execution of client’s pending orders at the price specified. They will be executed at the next best available market price. The same document confirms that the company shall act as principal for some transactions and as an agent for others. In transactions where the company acts in an agency capacity, the Execution Venue for the client’s orders will be the executing broker used by the Company which is LMAX Exchange Group for CFDs and AMP Global Clearing LLC for futures which is affiliated with AMP Global Ltd by ownership. When the Company acts as a principal, it shall serve as the counterparty to the Client orders placed (i.e. principal to principal) and shall be the sole Execution Venue for the execution of Client’s orders.
In general, this is a CySEC regulated company that offers trading through the most popular platforms – MT4 and MT5. It provides negative balance protection for CFDs and allows using all trading strategies including scalping. However, the spreads are not so narrow, and it is not specified what type of broker the company is, and it can act as it chooses.