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  • Are LLC applications ever accepted?

    I have been wanting to submit an LLC aplication or maybe two for quite some time however the word on the street I get is that they get declined with no apparent reason given. I have never been declined anywhere else. I have a single member and three member LLC. Both are filed as Pool exempt with the NFA. Does anyone have any experience with this?
    Last edited by Monkey Hammer; 07-01-2021, 01:54 PM.

  • #2
    Pleasse contact us and we will have our new accounts department walk you thru what you need to successfully open LLC account. https://www.ampfutures.com/contact-us/

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    • #3
      SO FRUSTRATING! I do not understand. My LLC application was just declined. I am already an AMP customer with an individual account. My LLC has never been denied anywhere ever before. I filled out the application with meticulous detail and uploaded all documents asked for. I got back what I heard people get back. A simple denial with no explanation. "This is a business decision based purely upon our setup." is what I got. I have to wonder what their "setup" is. At least with my Individual account they helped with a couple items and got me there. So bizarre. No assistance at all. I guess the street was right. See the attached most recent correspondence. I really wanted to use the Sierra Charts Trade Allocation feature for trading multiple accounts but the accounts must be with the same routing for that to work. I cry BullShit.
      Attached Files
      Last edited by Support; 07-26-2021, 01:43 PM.

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      • #4
        We have thousands of LLC traders here so we do not decline arbitrarily. perhaps send an email to the party that that declined account and figure out where you may have inadvertently made an error. you can apply again. ok

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        • #5
          Unbelievable! I sent the attached to Compliance yesterday. Compliance has just also disabled my personal account as well and given me withdrawal instuctions. Crazy. Never ever have had even a hint of issues anywhere else. Is there anyone available to speak to above a compliance officer? The individual account disable is really upsetting.
          Attached Files
          Last edited by Monkey Hammer; 07-27-2021, 01:39 PM.

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          • #6
            Just friggin' horrible to work with. The support desk identified a potential issue that could have been resolved and compliance just stonewalled. Not even a glimpse of effort on AMP's part. I guess what I've read on the street is correct. Let me reiterate, I have NEVER EVER had an issue at any other broker. GOOD RIDDENCE AMP!!

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            • #7
              I have an LLC with AMP and no issues. you are the only trader here crying...clearly your setup is not correct so they didnt approve you...so BUH BYE crybaby. and in your own words GOOD RIDDANCE!!!!
              Last edited by BobBobOreily; 08-02-2021, 07:39 AM.

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              • #8
                I have a live account with AMP...very happy with it. Im thinking about opening a LLC account. my guess is if your LLC setup is convoluted...too many moving parts..suspect funding and or partners and you dont set it up with proper docs and letters of trading authorization...then im sure thats why this is not working for you. why not move on instead of smearing AMP on their forum? not cool...move on bro.

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                • #9
                  Originally posted by Monkey Hammer View Post
                  SO FRUSTRATING! I do not understand. My LLC application was just declined. I am already an AMP customer with an individual account. My LLC has never been denied anywhere ever before. I filled out the application with meticulous detail and uploaded all documents asked for. I got back what I heard people get back. A simple denial with no explanation. "This is a business decision based purely upon our setup." is what I got. I have to wonder what their "setup" is. At least with my Individual account they helped with a couple items and got me there. So bizarre. No assistance at all. I guess the street was right. See the attached most recent correspondence. I really wanted to use the Sierra Charts Trade Allocation feature for trading multiple accounts but the accounts must be with the same routing for that to work. I cry BullShit.
                  I can see your frustration and sincerely apologize for your recent account being declined....however...in examining your previous thread comments " I really wanted to use the Sierra Charts Trade Allocation feature for trading multiple accounts but the accounts must be with the same routing for that to work. I cry BullShit.[/QUOTE]"

                  you can CLEARLY see the issue. We do not do trade allocation anymore after years of abuse by traders...recent regulation is that you must TRADE YOUR OWN ACCOUNT or ACCOUNTS. Multiple accounts not funded by same bank raises a red flag also multiple routing can trigger Pro Rates. you could also be trading other people funds which is not authorized or allowed. As i said before send and email to the party that declined you and inquire as to what is the issue with setup. it is on you the trader to make sure your account is setup to match the current regulatory environment. as AMP is an FCM we are held to a higher standard. If you are declined for whatever reason then that is the end of the matter you will need to trade your LLC somewhere else.
                  Last edited by Support; 08-02-2021, 12:01 PM.

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                  • #10
                    Hey Gentleman - Thought I would check in. I don't see any need for name calling, that's just rude and it diminishes the validity of your comments, but that aside, I really felt mistreated because they won't let you know what the issue is and attempt nothing at resolution. I have owned many biz's in my day and I think that is horrible customer service. If I owned AMP I certainly would not let this be policy.

                    Just to clear a few things up, My LLC is a single member LLC properly incorporated in the State of Minnesota with documented Articles of Incorporation and the Operating Agreement was drafted by Traders Accounting out of AZ. Over the 16 years of incorporation and multiple brokers over time I have never had an issue with any other broker which were all FCM's. So I don't see how it is "convoluted". All legal documents are in place and have served at other places. I was simply following instructions given in this forum. No one ever walked me through what the problem was so how can we be sure what the problem is. My disagreement is not so much the decline but the total lack of cooperation from compliance. The emails I sent were professional and non-insulting. So why cancel a previously approved Individual account if not just for spite.

                    I was not asking AMP to do trade allocation. I get the regulation stuff. I have a Series from my old prop trading days. All accounts are mine. Sierra Charts has a trade replication feature within the software that duplicates trades across accounts. The trade processing party is not involved.

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                    • #11
                      Opening an amp account is a strange thing. They sent me an email with a negative decision and 2 or 3 days later ------>>>>>

                      You AMP new account application is still pending. This is not normal.

                      What happened?

                      Are you no longer going to setup your AMP account?

                      Did we do something wrong?

                      We are here to help. Just let us know what you need and we will help you complete the sign up process.

                      Sincerely,

                      AMP <<<<<-----
                      in response, I looked at the profile and asked for the necessary documents. They sent me a refusal again. You can really be stupid

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