Is AMP a Scam?

FXCanary’s investigative process is built on the principle that a broker’s true colors emerge from the intersection of regulatory facts and real user experiences. We do not rely on marketing claims or surface-level licence counts. Instead, our editorial team cross-checks every regulatory registration against official public registers, scours industry databases for blacklist alerts, and meticulously analyzes hundreds of verified trader reviews. Each broker is then positioned on our proprietary Scam Risk Index—a 0-to-100 scale where lower scores signal higher danger.

Our methodology penalises vague or unverifiable licences, a pattern of unresolved withdrawal complaints, and any evidence of clone firm activity. Positive user sentiment around support or platform features is welcomed, but it never compensates for weaknesses in fund safety or regulatory ambiguity. A broker that earns a score below 40 automatically falls into our ‘Guarded’ category, indicating that traders must approach with caution and perform their own deep due diligence.

AMP Futures receives a Scam Risk Score of 36 out of 100, which places it firmly in the Guarded bracket. This is not an outright conviction of fraud, but it is a clear warning that trading with this broker carries an above-average risk profile. The score reflects a convergence of several troubling factors: regulatory licences that appear to be cloned, a disproportionate number of withdrawal and deposit complaints, and discrepancies in the firm’s official records.

A score in the 30s typically points to a broker where the appearance of oversight masks significant gaps. In AMP’s case, the glowing customer support reviews from some users cannot overshadow the hard reality that the regulatory permissions it claims may not be its own. For any retail trader, this means that funds deposited with the firm might lack the legal protections that genuine regulation provides.

AMP Global Clearing LLC lists two regulatory licences: an NFA Derivatives Trading Licence (number 0412490) from the United States and a CySEC Market Making licence (number 360/18) from Cyprus. On paper, these appear to offer a dual layer of oversight—one from a top-tier US regulator and another from an EU jurisdiction known for investor compensation. But our cross-check of aggregated industry data and public watchlists tells a far more unsettling story.

Multiple industry databases flag both licence numbers as suspected clones. A clone licence is a deceptive practice where a firm illicitly uses the registration details of a legitimate, regulated company, hoping to fool traders and payment processors into believing they are dealing with an authorised entity. When we attempted to verify AMP Global Clearing LLC directly against the official NFA BASIC system, we found that the name matched, but the licence designation and status did not provide the usual transparency of a fully approved futures commission merchant. Similarly, CySEC’s register does not list AMP Global Clearing LLC as the holder of licence 360/18.

For a trader, this means that even the fundamental protection mechanisms—such as NFA-mandated customer fund segregation or the CySEC Investor Compensation Fund (up to €20,000)—cannot be assumed. If the licences are indeed cloned, the firm is essentially unregulated, and client money may be commingled or, in a worst-case scenario, at risk of misappropriation with no official recourse.

Clone firms are a persistent threat in the online brokerage industry. They typically steal the name, address, and regulatory number of a real entity, then set up a website and marketing funnel to attract deposits. The real victim—often a well-known, legitimate broker—may have no connection to the clone, leaving defrauded traders with nowhere to turn.

In the case of AMP, the presence of not one but two suspected clone licences raises the stakes considerably. It suggests a deliberate effort to appear regulated in multiple jurisdictions, thereby broadening the pool of potential victims. Our research found no evidence that AMP Global Clearing LLC operates any clone or impersonator sites itself, but the internal licence irregularities are a red flag that any prudent trader should investigate independently. Before depositing, contact the NFA and CySEC directly and request written confirmation that AMP Global Clearing LLC is authorised to conduct business under the licence numbers it advertises.

Even the strongest regulatory framework means little if a broker habitually obstructs its clients’ access to their own money. Our analysis of 11 withdrawal-related user reviews reveals a deeply concerning ratio: 6 complaints versus just 4 positive experiences. One trader described a $1,000 wire withdrawal that devolved into a month-long nightmare, involving eight or nine failed attempts, internal cancellations, and conflicting instructions from support. “AMP’s withdrawal process is a disaster,” they wrote.

Deposit and funding issues appear equally fraught. Out of 11 reviews touching on this topic, 8 were negative. Users reported ACH transfers that took far longer than the advertised 3 days—one trader noted a 5-business-day wait—and others faced unexplained fees or difficulty even initiating a corporate account. A small number of users did praise the banking team for fast wire credits or responsive chat support, but the preponderance of negative accounts weighs heavily against the broker’s reliability as a custodian of funds.

These complaints are not isolated technical glitches; they form a pattern that suggests potential liquidity or operational problems. When combined with the clone licence suspicions, every delayed or blocked withdrawal must be viewed as a possible symptom of a more systemic issue.

Beyond licensing and funding, several other data points demand scrutiny. The structured record lists AMP’s employee count as zero, which is unusual for an active futures broker. While this could be an artefact of corporate structure or data collection, it does nothing to inspire confidence in the firm’s operational capacity. Additionally, the founded date of March 18, 2019 contrasts sharply with the broker’s own claim of having been formed in 2004—a discrepancy that may point to a shelf company or a recently reborn entity under a new name.

User reviews also surface specific trust and account risks. One trader reported being permanently banned from applying after a simple address mistake on their application. Another described their account as locked and trading privileges revoked over a month-end balance requirement they insisted they met. On the scam concerns front, two reviewers explicitly labelled the broker a scam, citing unresolved account issues and a sense that the firm pressured users to remove negative public complaints. These are not hallmarks of a transparent operation.

To be fair, the broker does collect a healthy number of positive reviews for its customer support team. Representatives like Johnny, Freddy, and Victor are frequently praised for being patient, knowledgeable, and quick to resolve technical questions. Over 100 users commended the support experience. Yet excellent service during onboarding or platform setup cannot mitigate the core safety risks that emerge once money is at stake.

If, after reading this assessment, you still wish to explore AMP Futures, take concrete protective steps. First, independently verify the licences: contact the NFA at (312) 781-1410 or via its BASIC website, and CySEC through its public register, asking explicitly whether AMP Global Clearing LLC is a holder in good standing. Do not accept a screenshot from the broker’s own website as proof.

Start with the smallest possible deposit that the platform allows, and immediately attempt a full withdrawal. Document the process meticulously—save chat transcripts, emails, and bank statements. A broker that processes this test smoothly is far more credible than one that creates friction. Be especially wary of any requests to deposit a specific sum to ‘unlock’ trading features or of delays blamed on internal procedures that were never communicated upfront.

Finally, demand written confirmation that your funds are held in a segregated client account with a regulated financial institution. If the broker cannot provide a segregation acknowledgment letter from the bank, treat the claim as unsubstantiated. In the current state of evidence, the safest decision is to choose a broker with an unambiguous, verifiable regulatory status—even if it means paying slightly higher commissions.

Our investigation leaves AMP Futures in a precarious position. The broker enjoys a contingent of loyal users who commend its platform integrations and front-line support, but that goodwill evaporates when examined through a safety lens. Two suspected clone licences, a 36/100 Guarded rating, a high volume of withdrawal and deposit complaints, and opaque corporate data all point to a firm that may not deserve the trust of a retail trader.

FXCanary does not label AMP an outright scam, but the evidence demands that any potential client approach as if it might be one. Until the regulatory picture is clarified—ideally by direct confirmation from the NFA and CySEC—traders should limit their exposure, never deposit more than they can afford to lose, and keep a record of every interaction. We will continue to monitor AMP Futures and update this rating as new information comes to light.