How To Maximize Success with AMP Global – Expert Insights

Cyprus-based brokerage AMP Global received a moderate risk rating and an overall score of 5.14 out of 10 from Traders Union (TU) in their 2024 forecast report. TU highlighted the pros and cons for traders interested in opening an account with AMP Global.

TU ranked AMP Global 87th out of 383 companies rated in their proprietary ranking system, which evaluates brokers on over 100 different criteria. The ranking focuses specifically on active trading brokers and takes into account factors like minimum deposits, spreads, account funding options, and fee structures.

Is it safe to trade with AMP?

As a Cyprus Securities and Exchange Commission (CySEC) regulated broker, AMP Global must comply with strict European regulatory standards, including segregating client funds in separate accounts from the company’s own operating funds. TU expert Anton Kharitonov noted that CySEC regulation and the associated Investor Compensation Fund coverage — which protects traders’ accounts up to €20,000 in case of broker default — helps reassure users that the company takes security seriously.

However, Kharitonov pointed out the disadvantage that CySEC typically only considers claims over €50,000 when investigating broker disputes. So, traders with smaller accounts may still have difficulties getting disputes resolved satisfactorily through the regulator.

Trading сonditions

Spreads at AMP Global start from 1 pip, with no zero-spread accounts available. The broker does not advertise any commissions, but futures trades incur exchange fees that can vary significantly. Kharitonov reported that AMP Global provides custom pricing for higher-volume traders who request it.

The minimum deposit starts at $100/€100/£100. Swap fees apply to most accounts to rollover positions, but Islamic (swap-free) accounts are available for users who request them. No deposit or withdrawal fees apply, though payment providers levy their own charges in the 0.5% to 3% range. 

Pros and сons

AMP offers up to 1:100 leverage across most markets including forex, futures, indices, commodities, stocks, and cryptocurrency CFDs. Traders can open both long and short positions with no restrictions on strategies like scalping or hedging. This gives better opportunities to active users to profit more. 

The broker’s platform options consist of MetaTrader 5 desktop, web, and mobile. No proprietary platforms are on offer.

Unlimited virtual money accounts are provided so traders can extensively backtest strategies before putting real money at stake. AMP also offers some useful trading resources like economic calendars, exchange hours listings, and an analyst blog to help traders expand their knowledge independently if desired.

However, in his Traders Union review, Kharitonov highlighted a lack of copy trading, PAMM-managed accounts, micro-cent accounts, bonuses, or contests that would appeal to novice investors looking for how to build skills with minimal risks. The absence of these educational features leads Kharitonov to rate AMP Global as better suited for experienced active traders rather than beginners.

Client feedback analysis

Checking client reviews from real AMP Global traders reveals something of a split, according to Kharitonov’s analysis. Numerous reviews praised their customer service, particularly the multi-language phone and chat support. Processing and support speed also earned praise from several reviewers. As stated here, in a review published by Minimalistfocus based on TU insights about active traders using AMP futures, “Over at AMP Futures, active traders take on the role of traders who explore the market space, navigating the diverse sphere of futures contracts to exploit short-term price movements.”

However, a significant minority complained of unfavorable market execution prices compared to competitors. Slippage complaints occurred from time to time. Others were unhappy with withdrawal delays, though many recent reviews stated payouts were processed smoothly and rapidly.

Kharitonov noted traders should weigh up AMP Global’s advantages around security and responsive service against the limitations for new users and concerns noted by some existing clients. He advised opening a demo account to check execution quality during volatile trading periods before committing real money. Traders requiring high leverage, a choice of platforms, and responsive multilingual support may find AMP Global a reasonable option, provided they conduct due diligence. However, new investors may prefer brokers with lower minimums and more educational resources on offer.

TU experts analyze how Steve Cohen built his wealth

Steven Cohen, the billionaire hedge fund manager and owner of the New York Mets, is one of the most legendary traders on Wall Street. But how exactly did the “hedge fund king” amass his immense $17.5 billion fortune? The TU report also highlighted how Cohen made his billions through high-risk, high-reward short-term trading strategies.

Cohen’s aggressive trading strategies

“Steven Cohen used aggressive, large-scale bets on small movements in stock prices to drive his success,” the Traders Union report states. “Although risky and unpredictable, Cohen’s strategy focused on acquiring shares in companies he believed had major growth potential.”

After getting his start as a junior trader in the options arbitrage division at Wall Street firm Gruntal & Co. in the late 1970s, Cohen launched his own hedge fund SAC Capital in 1992 with $20 million of his own money. Through the same bold trading tactics, SAC Capital surged over the next two decades to manage $14 billion in assets before getting shut down in 2013 over insider trading allegations.

Although never criminally charged himself, Cohen was barred from managing outside money for two years. He has since started a new fund, Point72 Asset Management, which oversees his personal $17.5 billion fortune.

Cohen’s strategic evolution

According to TU’s lead analyst, “Cohen combined fundamental stock research with quantitative data analysis to identify opportunities. He built a team of portfolio managers to collaborate and share ideas while maintaining the final say on all trades.”

The expert adds that while risky, Cohen’s strategy focused intensely on stock volatility and growth potential. “He placed large directional bets on stocks he expected to make big moves, cutting losses quickly when trades went south,” the analyst noted. “This high risk, high reward approach powered the standout returns Cohen became famous for.”

Now 67, Cohen has transitioned to lower-risk trading strategies more fit for his enormous wealth. But TU analysts say Cohen’s early swashbuckling style contains important lessons for novice traders today about passion, risk-taking and learning from mistakes.

“You need conviction in your ideas and willingness to take losses,” TU experts advised. “Cohen made mistakes but continually educated himself to create new strategies. Trading should be evolutionary.” So, while most may not have Cohen’s appetite for risk, TU experts say elements of his self-made story can inspire any young trader’s journey in today’s market.

Conclusion

In summarizing, Traders Union provided useful insights for traders evaluating broker AMP Global, while also highlighting lessons from legendary investor Steven Cohen’s high-risk strategies. The TU review of AMP Global gave the Cyprus-regulated broker a moderate risk rating, citing security assurances from CySEC compliance but potential concerns around execution quality and withdrawal delays. Users are advised to open a demo account to check spreads before committing funds.

Additionally, the analysis of how Steve Cohen built his immense hedge fund wealth offers inspiration about taking risks, learning from mistakes, and continually evolving one’s trading style. While few may replicate Cohen’s appetite for volatility, elements of his self-education and conviction contain applicable wisdom for traders today. 

About the author

The article was written by Oleg Tkachenko, an author and expert at Traders Union