could you please share more information because a lot of guys here are with velocity?
i myself have been trading with them for over a year and i think they are great.
the commissions are very low and the customer service department are really good.
wheneveer i needed them they were in handy.
They wouldn't, would be the most logical answer.... which means there is more to your story than you are letting on, it would seem.
As far as I can remember, this is the first time anyone has ever said anything negative like this about Velocity. So if you had a bad experience with them, then just move on elsewhere and maybe take a closer look at whatever else you did during this "event" that may have caused them to close your account.
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The following user says Thank You to Big Mike for this post:
Glad to hear that no one else has voiced a concern like this about Velocity. I tried to get a further explanation from them but I was not given one. In almost 5 years of trading I have never seen anything like that before. I have accounts with other brokers and have never had that happen. I just wanted to get feedback and warn others.
my 2 cents, if you truly want to help others, ignore @Big Mike's advice and please show/document how the case took place if you are able to... what you are stating is somewhat serious.. and yes, an FCM does have the ability and right to close your account if they so desire.. people should read the fine print of what they sign when it comes to agreements.. but it is not something that is normally done, so for it to be done to you, as Mike says, something is amiss.. and please document if you can..
While not having the time to address every inaccuracy in these posts, I will simply say that Velocity Futures does not close accounts because a client asks us to investigate an exchange’s handling of an order. We do this kind of investigation all the time and are happy to do so.
However, Velocity has been forced on rare occasions to close the account of a client that is unreasonable, abusive or who makes baseless accusations against Velocity or its staff. This is especially true when a clear and accurate explanation of a questioned trade has already been provided by the exchange and relayed to the client by Velocity’s support desk and the client persists in the offensive conduct.
If you have any questions about our services at Velocity Futures please send me a private message.