Perhaps coincidentally, perhaps not, but p does not necessarily imply q here. It seems like ages ago, but markets were as dry as the Sahara in Q1, and only really got interesting again in Q2, especially in May. Perhaps the lack of movement and volatility has also been a factor. Measuring Velocity's net capital versus other FCM's would give a more true picture. But my point is, one data point is not enough to draw any conclusions.
The same Atlas FCM rating that PFGBest had.
This is from the ZeroHedge article a couple of days after PFGB collapsed.
Would be nice if they would make public some kind of voluntary third party verification of the existence of the balances in the segregated accounts.
I very appreciate it, if a FCM increase their fees or commissions to keep financial healthy. It is better to pay the necessary amount to keep the FCM running rather then sink your account with a collapsing FCM.
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Hi, if the assets are correctly segregated by the FCM and flawlessly monitored by the regulators then the financial health of the FCM is of no consequence (unless they prop trade and use your assets as security). If they go bankrupt then your money is safe. See this thread for more details on specific nuances:
Just wanted to post my experience here. I have used Velocity for a couple years or so. I have been happy with their data feed (trading tech) and commission rates ($3.52/rt for the ES).
I dislike the fact that the only way they will allow you to fund or refund your account is via a wire. This costs $30 anytime you want to add funds or withdraw funds - their stated reason for this is that only wires provide a secure transaction. I don't find this reason compelling.
Over time I have been dissatisfied with their customer service - most of the time it is OK except when there is a problem in which case I have been disappointed with the way they've chosen to handle disagreements or problems. The final straws occurred the last couple days and I'm transferring my business to AMP.
I think it is easy to get good commissions, margin structures, and data feeds from a multitude of brokerages and therefore I can't recommend Velocity, life is too short to deal with a broker that is difficult to deal with.
Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
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