AMP Trading Review Scam Complaint
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AMP Trading is an unregulated brokerage company situated in London. The broker is known as forex and Crypto currency broker with a wide range of financial assets. The only information provided on their website is the contact details, no information related to Owner Company and trading conditions is mentioned there. Something that was strange here is the fact that the name of the brokerage company is really close to the highly recommended broker AMP Global Group. In fact, there is no connection and the name is intentionally misleading. This is something that one should be careful of, in order to make sure that this is a right broker or not.
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About the AMP Trading:
AMP Trading offers four types of accounts for trading, namely, Discovery, PAMM, Advanced and Advanced Gold. These accounts have different minimum deposit requirements, Advanced Gold having the highest minimum deposit requirement of 100,000 pounds. The only possible advantage visible of using this broker is the use of latest software for trading, the MetaTrader 5 (MT5). This is a highest level of trading platform choice, however one thing to notice is that the website of AMP Trading does not feature any downloadable version of the platform, and as it is not regulated, we cannot be sure that it really uses the MT5.
The regulatory situation with this broker is a complete fishy and mess.As, AMP Trading claims to be based in the UK but says it is registered in England and Wales. Importantly, the broker claims to be regulated and authorized by the Financial Service Commission (FSC) but it’s completely fake as UK’s Financial Conduct Authority has issued a warning against it so it seems that AMP Trading is illegally targeting UK’s investors. Moreover, mere registration in England and Wales does not permit the company to operate as a brokerage company. As said in the beginning, the company’s website does not provided much required information like the spreads, the maximum leverage, and the minimum trade size. This is another fact about AMP Trading which leads us to believe that it is a scam broker.
Is AMP Trading legit or scam?
Amp Trading is an unregulated and not a licensed broker to operate in UK. There are various facts about the company which makes it a scam broker; some of them have been discussed above, this broker makes false claims and tries to mislead investors into thinking it is associated with AMP Global. Therefore, stay safe from this scam broker.