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I was with Velocity for over a year and they were my 2nd broker in the 3 years I have been trading. I had no data feed connections problems or customer service problems. It wasn't until PFG fiasco that I decided to find out more about my broker and when I found information on an executive with felony charges as listed Case Summary that I decided to make a change. It seems like a coin toss when making the decision with what broker fits my needs and who I felt the safest with. I had decided on Mirus, and Dorman for clearing who I had with my first broker, but time will tell on my satisfaction with them.
My sons use brokers that cater to would-be currency traders with smaller accounts. While I've shunned them mostly from middle aged stodginess (I like one-stop shopping) have to admit some of the perks (including tick data back to the Stone Age) may convince me to open a currency trading account with them.
When I initially started trading intra day I used Tradestation and Infinity Futures [Introducing Broker to Transact].
After a few negative experiences with TS and platform connectivity issues with Infinity I quickly switched to Interactive Brokers.
IB has remained my Primary intra day Broker. I see no reason to switch. Slightly higher commissions are a price I gladly pay to protect my capital, access multiple markets and instruments with the flexibility the portfolio margin acct provides.
I do believe in Capital Diversification as I do Asset Allocation/Diversification, and distribute my swing, longer term positions and investments across multiple brokers/banks [US and European] to eliminate "concentration" risk for lack of a better term.
[we can never completely guard against systemic risk, but we can attempt to mitigate the exposure]
I trust no one, nor no financial institution 100%. [not even IB]
I do not use 2nd tier brokerage's or Banks.
First hint of trouble in a financial institution, I will transfer funds out, ask questions later...
