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AMP Global Review

 

AMP Global Review

 

 

 

Overall Rating

4.1/5

Rated #334 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

CySEC, MiFID 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

AMP Global is a forex broker company in Cyprus. A Forex broker like AMP Global provides traders with access to one or more platforms that will allow them to buy and sell foreign currencies.

Forex brokers are also known as retail or currency trading brokers. Retail currency traders, in turn, use these broker companies to gain access to the 24-hour currency market for speculation purposes.

Forex broker services can also be provided for institutional clients and large companies such as investment banks.

AMP Global is an online foreign exchange broker that was founded in 2010 in the United States. The broker is situated in Cyprus and is registered and regulated by the Cyprus Securities and Exchange Commission (CySEC).

Although AMP Global originally operated from the United States, it has now branched into the European market.

AMP Global also offers their clients insurance of 20,000 EUR each which makes them stand out as a broker.

 

Awards and Recognition

In the world of forex broker companies being honored with awards from esteemed organizations or publications, count much for the company’s reputation. Such awards are usually mentioned with pride on the company website.

Although AMP Global is rated highly by some customers in personal reviews on review websites, there is no information available on the AMP Global homepage or elsewhere about any awards received by them.

 

AMP Global Accounts

A forex account is a trading account held by a trader with a company like AMP Global, that is issued with the primary purpose of trading through its platforms.

Usually, the number and type of accounts that a trader can open with a broker company differ according to the country in which the brokerage operates, the country of residence of the trader, and the regulatory authorities under whose jurisdiction it operates.

Accounts usually differ in the way spreads or commissions are applied, what minimum deposit is needed to open that type of account, and certain services or advantages that account holders may get access to.

In the case of Muslim customers, special Islamic accounts, that is swap-free accounts, are offered that mirror the other account types, but which operate by Shariah law.

 

 

Types of Accounts and its Features

AMP Global offers two main types of accounts, an Islamic account, and a trading account. The trading specifications for both accounts are the same.

Trading Account:

The account requires a minimum deposit of 100 USD to be opened.

The account uses MetaTrader 4 and Meta Trader 5 as a trading platform and has an STP execution method. There are no re-quotes or rejections.

The account comes with a variable spread starting from 1 pip.

There are commissions charged on the account, which is dependent on the market traded.

The account can be leveraged up to a maximum ratio of 1:100

There is also negative balance protection, scalping, expert advisors, and news trading is also permitted on this account.

 

Overall Rating

4.1/5

Rated #334 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

CySEC, MiFID 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Deposits and Withdrawals

AMP Global offers the following payment methods with which deposits and withdrawals can be made, by using the relevant currencies:

Credit or Debit Card – USD, EUR, GBP

UnionPay – USD

Neteller – EUR, GBP

Skrill – USD, EUR, GBP

Bank Wire – USD, EUR, GBP, RUB

Internal Transfer – USD, EUR, GBP, RUB

AMP Global does not charge any added fees but you will be held liable to pay for any transaction fees that are added by your own bank for whichever payment process you choose.

 

Cost and Fees, Commissions and Spreads

The cost of trading depends on different factors like commissions, spreads, and margins.

The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move. One pip is 0.01 for currency pairs with JPY as the term currency and 0.0001 for all other pairs.

The amount of money required in your account to open a position is called the margin and is calculated according to the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your account.

Commissions are the charges imposed by an investment broker on a trader for making trades on the trader’s behalf. The level of commissions depends on the asset being traded and the type of service offered by the broker.

Execution-only brokers, which do not involve in personal investment advice and give traders complete control over how they trade the markets, usually charge lower commissions.

While contract for differences (CFDs) trading is a form of derivative trading that enables traders to speculate on the rising or falling prices of fast-moving global financial markets, it’s trading on shares will incur commission. CFD trades on other markets have no commission but do wrap a spread around the market price of a certain instrument.

AMP Global charges the following fees:

Spreads – The spreads are variable which means they may be changed and influenced according to the markets.

Different instruments will also have different spreads. Some will be as low as 1 pip or as high as 2 pips or more.

Deposit and withdrawal fees – When it comes to withdrawal fees, there seem to be no charges from AMP Global. Your own bank could charge you fees and the specific method of payment you choose may also incur certain charges.

Inactivity fees – There is nothing stipulated on their website regarding inactivity fees been charged. But to be safe, traders should check with the customer services support team.

Commission – On their website, they state that they will beat any written commission quote. However, they do not stipulate how much they charge for commission.

 

Leverage

Leveraged product trading magnifies a trader’s potential profit – but of course, also increases the potential loss. This facility that enables traders to get a larger exposure to the market than the amount they deposited to open a trade, is called leverage.

The amount of leverage is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that a trader has $1000 in a trading account and is trading ticket sizes of 100000 USD/JPY, that leverage will equate to 100:1.

Traders should always keep in mind that, although high leverage offered may be a plus point for the brokerage, but trading at such high leverage should only be attempted by experienced traders that know how to prevent big losses.

AMP Global allows its traders to use a maximum leverage ratio of up to 1:00. This is however quite lower than what most other brokers allow.

 

Bonuses

Forex brokers often lure new traders with offers of deposit bonuses. This can be useful, but it is essential to discern what the conditions are to really benefit from a bonus.

The bonus usually compensates traders for choosing a certain broker, since once the account is active, the trader will have the same expenses as any other. The bonus usually only starts giving some expenses back to the trader once the person has proved himself as an active trader.

Hence, although no deposit bonuses are a great way to help you start trading, the terms to benefit from it often require trading with such a high volume before you can withdraw profits, that it may not be worthwhile.

The European Securities and Markets Authority (ESMA) has also recently placed investor protection measures on the marketing, distribution, or sale of CFDs which prevent brokers to provide the retail client with a payment, monetary or excluded non-monetary benefit about the marketing, distribution, or sale of a CFD, thus ruling out the offering of such bonuses.

According to the company website and other sources, AMP Global does not currently offer any promotions or bonuses, a situation that may change from time to time. You may find it worthwhile to contact the customer service support team to enquire if any are coming up that you could take part in.

 

Trading Platforms, Software, and Features

The forex trading software, also called the platform, provided by a broker company to its clients to carry out their trades can be a multi-asset one that allows clients to trade forex as well as other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.

Some companies provide their own proprietary platform, which may benefit traders due to specific characteristics developed by specialists employed by the broker, while others prefer to provide the better-known platforms that were tried and tested through time.

If there is a choice, the trader should keep in mind what he would like to trade and find the platform that suits his needs best.

AMP Global offers the following trading platforms:

 

MetaTrader 4 (MT4)

MetaTrader 4 is one of the world’s most traded and most popular trading platforms. The software was released in 2005 it has been improving on every update, with some of its features including:

Admission to tight pricing on a full trade offering

Expert Advisors support

Extremely customizable charting

Ticket based trading

Full charting library

Carry out your trade ideas anytime, anywhere

Check your positions whenever you want

30 indicators

 

MetaTrader 5 (MT5)

This is the newer version of MetaTrader 4. The program was designed to advance on what MT4 had already built. MetaTrader 5 is a multi-asset platform that provides better tools for all-inclusive price analysis, the use of algorithmic trading applications, and copy trading.

The program is available on all sorts of devices such as desktop, mobile and as a web trader.

It can be used anywhere in the world, contain built-in market analysis tools and a system with Market Depth and executions.

 

Markets, Products, and Instruments

Most brokers offer all or some of the following market instruments for trading:

Forex:

Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

Commodities:

As with currency exchange markets, commodity markets offer trading in contract-based tradable goods.

Indices:

Equity or stock indices can represent a specific set of the largest companies of a nation or they can represent a specific stock market. It is actual stock market indexes that measure the value of a specific section of a stock market.

Precious metals:

This involves the trading of gold, silver, and other precious metals as hard commodities that are contract-based tradable.

Energy:

The high volatility of energy prices due to political, environmental, and several other factors, is a typical feature of this product, making it a popular trading choice.

Cryptocurrencies:

Tradable cryptocurrencies include the following:

Bitcoin (BTC)is the digital currency with the largest market capitalization and price levels and dominates 50% of the total crypto market cap.

Litecoin (LTC) is similar to Bitcoin but differs in terms of scalability.

Ethereum (ETH) is the second-largest cryptocurrency after Bitcoin and allows developers to create smart contracts on a platform.

Ripple (RPL) is popular among big banks with the Ripple network a next-generation real-time gross settlement system.

Bitcoin Cash (BCH) was created as a new version of the blockchain with different rules.

AMP Global offers trading in the following:

Forex and Cryptocurrencies such as Bitcoin Cash, Bitcoin, Ethereum, Litecoin, Ripple.

Indices: AUS200, EUR50, FCHI, GER30, HSI, J225, SPN35, UK100, SPX, NDX, WS30.

Energies: UK Brent Oil, US Crude Oil, US Natural Gas.

Metals: Gold (tradable available USD, EUR, AUD), Silver (tradable against USD and AUD).

Shares: Apple, Amazon, Alibaba, Bank of America, Daidu, Facebook, Alphabet, Netflix, Tesla, Twitter.

 

 

Safety and Regulation

Before deciding to join a brokerage company to start trading, a potential trader needs to establish whether a broker like AMP Global is safe and secure to trade with. One of the most reliable benchmarks to measure the safety of a brokerage is to establish which regulating authorities are watching and overseeing its actions and whether the company complies with those regulations.

In general, a so-called “offshore” broker tends to have a less favorable reputation and potential traders should think carefully before investing with them.

Secondly, the safety of the client’s funds should be guaranteed and in the case of the company defaulting or going bankrupts, a safety net of some sorts would come in handy to prevent customers from taking more losses.

AMP Global is properly regulated and is part of a solid global company, namely AMP Global Limited. They are licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 360/180.

 

Customer Support

Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it. The ease with which such support teams can be contacted may also play a role when choosing a broker.

The customer support team of AMP Global is available 24 hours a day although on the website it does not specify whether they are available over the weekends too.

To contact their customer services support team, you can email them and there are also telephone numbers plus a live chat option available on their website.

You can also access their support forum if you need any help. AMP Global customer services team can help clients in the following languages: English, Russian, Spanish, Slovak, Arabic, Chinese, French, German, Greek, Italian, Japanese and Polish.

 

Education and Training

Before starting to trade, potential AMP Global clients should arm themselves with all possible information and trading skills needed to be successful in the world of forex and commodity trading. If AMP Global’s website itself does not provide enough means, a trader should explore other information sources to obtain those skills and knowledge.

AMP Global offers a variety of educational tools for their clients to learn the basics of trading. On their website, they offer glossaries and basic information on different trading subjects.

 

Research

Potential traders need to be enabled to do as much as possible research about speculative trading before commencing to do it and while trading with a specific brokerage.

Trading successfully relies heavily on knowledge and understanding of the markets and the platforms offered by a broker, therefore research options offered by brokers form an integral part of its features when choosing the right company to trade with.

AMP Global does not specify any specific research tools for use on their website, but the available trading platforms – MetaTrader 4 and MetaTrader 5 – offer excellent built-in research tools such as annual calendars that will notify traders of any current economic events throughout the year.

 

Conclusion

AMP Global is a safe and properly regulated broker to trade with. The maximum allowed leverage is very low compared to other brokers.

The customer service support team offers many ways to get in contact which is a positive aspect for the company.

 

Disclaimer

AMP Global warns potential traders that Forex and CFDs trading always carries a high level of risk, therefore may not be suitable for all investors.

Before clients decide to trade the products offered by AMP Global, they are advised to contemplate their investment objectives, financial situation, needs, and level of experience carefully before investing money that they cannot afford to lose.

Especially when traders use AMP Global’s leveraged accounts, they should make sure to maintain a sufficient level of margin to sustain their positions, since trading Forex/CFD and Options on margin and using a higher than necessary leverage can be either beneficial or detrimental to a trader. It is always possible to sustain a loss of some or all of an initial investment.

While AMP Global promises to make all efforts to fill a trade at the requested price, trading online does not necessarily reduce risks associated with currency trading, therefore quotes and trades are usually subject to the terms and conditions of a Client Agreement, which is accessible through the broker’s website.

Potential traders should first acquaint themselves with all these associated risks and seek advice from an independent financial advisor.

 

AMP Global at a Glance

Broker’s name AMP Global
Headquarters Cyprus
Year founded 2010
Regulating authorities CySEC
Countries not accepted for trade The United States and some other countries
Demo account Yes
Islamic account (swap-free) Yes
Institutional accounts Yes
Managed accounts Yes
Maximum leverage 1:100
Minimum deposit $100
Deposit options Credit/Debit Card – USD, EUR, GBP

UnionPay – USD

Neteller – EUR, GBP

Skrill – USD, EUR, GBP

Bank Wire – USD, EUR, GBP, RUB

Internal Transfer – USD, EUR, GBP, RUB

Withdrawal options Credit/Debit Card – USD, EUR, GBP

UnionPay – USD

Neteller – EUR, GBP

Skrill – USD, EUR, GBP

Bank Wire – USD, EUR, GBP, RUB

Internal Transfer – USD, EUR, GBP, RUB

Platform(s) provided Meta Trader 4, Meta Trader 5
OS compatibility Mac, Windows, Linux, Web, Mobile Android, iPhone, iPad.
Tradable assets offered Forex, Crypto, Indices, Energies, Metals, Shares
Languages supported on the website English, Russian, Spanish, Slovak, Arabic, Chinese, French, German, Greek, Italian, Japanese, Polish
Customer support languages English, Russian, Spanish, Slovak, Arabic, Chinese, French, German, Greek, Italian, Japanese, Polish
Customer service hours 24 hours per day, 5 days per week

 

Overall Rating

4.1/5

Rated #334 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

CySEC, MiFID 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FAQ’s

 

Trading Environment

 

How many instruments can I trade with AMP Global?

You can trade several different instruments with AMP Global, which include the following:

  • Forex
  • Cryptocurrencies such as Bitcoin Cash, Bitcoin, Ethereum, Litecoin, Ripple.
  • Indices: AUS200, EUR50, FCHI, GER30, HSI, J225, SPN35, UK100, SPX, NDX, WS30.
  • Energies: UK Brent Oil, US Crude Oil, US Natural Gas.
  • Metals: Gold (tradable available USD, EUR, AUD), Silver (tradable against USD and AUD).
  • Shares: Apple, Amazon, Alibaba, Bank of America, Daidu, Facebook, Alphabet, Netflix, Tesla, Twitter.

 

Which platforms are supported by AMP Global?

AMP Global provides the following popular trading platforms:

  • MetaTrader 4
  • Meta Trader 5

 

Does AMP Global offer leverage?

Yes, AMP Global offers maximum leverage of up to 1: 00. This is however quite lower than other brokers.

 

What spreads can I expect with AMP Global?

AMP Global offers spreads that are variable which means they will change according to influence by the markets.

Different instruments will also have different spreads. Some will be as low as 1 pip or as high as 2 pips or more.

Since details on the website are not clearly enough stipulated, more information should be obtained from the customer support service to make an informed choice.

 

Does AMP Global charge commission?

AMP Global does not specify on their website exactly what the commission charge is except that they will match any other commission.

More information on commissions may become available after opening an account or can be obtained from the customer support service.

 

Is AMP Global regulated and by whom?

AMP Global is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 360/180.

 

Is AMP Global a recommended forex trading broker for experts and beginners?

AMP Global offers a good trading environment for most types of traders, from experts to beginners.

 

What is the overall rating out of 10 for AMP Global?

8/10

 

Accounts

 

What is the difference between a demo and a live trading account?

A demo account as is offered by broker companies like AMP Global is usually funded with virtual money and allows a prospective customer to experiment with the company’s trading platforms and its features, before setting up a real account which needs to be funded with the customers own real money.

 

Does AMP Global offer a demo account?

Yes

 

Can I convert my demo account to a live trading account with AMP Global?

This is not clear from the information on the company homepage.

 

Which live trading accounts does AMP Global offer?

  • Trading Account
  • Islamic Account

 

What are the available deposit currencies for a live trading account?

Multiple currencies.

 

Deposits and Withdrawals

 

What is the minimum deposit required to open an account with AMP Global?

$100

 

How do you make a deposit and withdraw money with AMP Global?

AMP Global offers the following deposit and withdrawal methods:

Credit/Debit Card – USD, EUR, GBP

UnionPay – USD

Neteller – EUR, GBP

Skrill – USD, EUR, GBP

Bank Wire – USD, EUR, GBP, RUB

Internal Transfer – USD, EUR, GBP, RUB

The same method that was used to fund an account must normally be used to withdraw money. Also, monies will usually only be refunded to accounts in the same name as the trading account.

 

Does AMP Global charge withdrawal fees?

Fees from financial institutions may be applicable and more information about applicable costs can be obtained from the company’s customer service team.

 

How long does it take to make a withdrawal?

Withdrawals using certain methods may be processed within a shorter period than others. Usually, withdrawals take a few days but depending on bank services it may take several days longer for the money to be available in a customer’s bank account.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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