FCA Warns About a Clone of AMP Futures Called AMP Trading
- The AMP Trading clone company pretends to be registered in Europe but is, in fact, operating an unregulated brokerage.
The UK Financial Conduct Authority has singled out a brokerage company which is misleading investors across the EU. The company’s name is AMP Trading Group and it is operating via www.amptradinggroup.com.
According to the website, the firm operating the website is registered in the UK. The FCA says that this company is not allowed to onboard clients in the EU. The firm’s registration does not permit it to operate as a brokerage company.
Clone of US Futures Broker
The company is a clone of Chicago-based futures broker AMP Futures. The company is in no way associated with the regulated US company.
Cloning is an increasingly popular method used by scam companies to attract unsuspecting clients. They typically use a well-known brand’s name and sometimes even copy websites.
ESMA’s new regulatory measures, that include a hard cap on Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term provision on the part of retail brokers, are making life easier for offshore brokers. These firms are looking for traders whose habits to trade with high leverage die hard.
Protecting from Clones
Individual regulators across the EU are hard at work, posting announcements on their sites once they identify such companies. The problem is that the warnings are usually too late for some customers.
Retail investors are advised to look carefully at the website and the corporate entity which is running it.
AMP Trading Group or AMP Trading LTD are both entities which are singled out by the UK regulator. The FCA, the French AMF, the Belgian FSMA and the Cypriot CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term all maintain lists and issue regular warnings against unregulated companies.
Cold Calls
Clone companies typically use unsolicited phone calls to onboard new clients. The FCA has been saying for some time that UK residents should be vigilant about cold calls.
Call centres, typically located in eastern European countries outside of the EU, are used to onboard clients to unregulated brokers. Countries such as Bosnia and Herzegovina, Serbia, Ukraine and Georgia are preferred by scam brokers.
The UK Financial Conduct Authority has singled out a brokerage company which is misleading investors across the EU. The company’s name is AMP Trading Group and it is operating via www.amptradinggroup.com.
According to the website, the firm operating the website is registered in the UK. The FCA says that this company is not allowed to onboard clients in the EU. The firm’s registration does not permit it to operate as a brokerage company.
Clone of US Futures Broker
The company is a clone of Chicago-based futures broker AMP Futures. The company is in no way associated with the regulated US company.
Cloning is an increasingly popular method used by scam companies to attract unsuspecting clients. They typically use a well-known brand’s name and sometimes even copy websites.
ESMA’s new regulatory measures, that include a hard cap on Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term provision on the part of retail brokers, are making life easier for offshore brokers. These firms are looking for traders whose habits to trade with high leverage die hard.
Protecting from Clones
Individual regulators across the EU are hard at work, posting announcements on their sites once they identify such companies. The problem is that the warnings are usually too late for some customers.
Retail investors are advised to look carefully at the website and the corporate entity which is running it.
AMP Trading Group or AMP Trading LTD are both entities which are singled out by the UK regulator. The FCA, the French AMF, the Belgian FSMA and the Cypriot CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term all maintain lists and issue regular warnings against unregulated companies.
Cold Calls
Clone companies typically use unsolicited phone calls to onboard new clients. The FCA has been saying for some time that UK residents should be vigilant about cold calls.
Call centres, typically located in eastern European countries outside of the EU, are used to onboard clients to unregulated brokers. Countries such as Bosnia and Herzegovina, Serbia, Ukraine and Georgia are preferred by scam brokers.