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Experience with Velocity Futures?


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Experience with Velocity Futures?

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  #201 (permalink)
 Big Mike 
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keymoo View Post
Not especially Mike, it's the real-time data I'm concerned about.

Use IQFeed for real time as well. I use Sierra, have two instances. One for charts (IQFeed) and one for execution (DOM, through brokerage).

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  #202 (permalink)
 keymoo 
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Big Mike View Post
Use IQFeed for real time as well. I use Sierra, have two instances. One for charts (IQFeed) and one for execution (DOM, through brokerage).

This is a solution I have considered before. Use Infinity for brokerage and IQ Feed for data. I do like to trade from the charts though. Hmmmm.... I may eventually go with that, however I may test Infinity tomorrow by calling them at 9am UK time to see if they answer.

However I decided to go with Velocity off the back of the webinar you did as then I would not need two separate feeds and could trade from the charts. It's a shame they have let me down because I really liked them to start with, or perhaps all brokers are deficient in some way, just have to choose the least bad among them?

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  #203 (permalink)
 traderwerks   is a Vendor
 
 
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Sorry about the trouble you are having @keymoo

From what I know about order feeds. this is what I think happened.

 
Code
Received a business-level reject message.  Reason: Empty value (Tag 200) | 2012-06-18  08:57:12
The Tag=200 means the TT fix gateway wasn't getting the proper MonthYear of the contract for your order. I don't know why, I have never used SC. Since the broker's system did not know what contract expiration month you wanted for your order, it kicked it out without giving you are Service Order ID, since it never placed the order.

 
Code
Unable to cancel order without a Service Order ID.  Internal Order ID: 326 | 2012-06-18  08:57:54
Since the order was never placed, and no Service Order ID was issued, you can't cancel it, because it isn't there.

This is of course my opinion from using the TT order feed. YMMV

I really love the TT feed for tick charts by the way.

Math. A gateway drug to reality.
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  #204 (permalink)
 Big Mike 
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keymoo View Post
However I decided to go with Velocity off the back of the webinar you did as then I would not need two separate feeds and could trade from the charts. It's a shame they have let me down because I really liked them to start with, or perhaps all brokers are deficient in some way, just have to choose the least bad among them?

I believe you can do it using the "Remote Chart" capability, but I never bothered to be honest because I don't care about chart trading, so for me was easiest just to have two separate instances of Sierra.

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  #205 (permalink)
 keymoo 
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Just in case other people are considering Velocity I just spoke with them after getting through via the Live Chat. They called me back and I was pretty disappointed.

They told me to use a Sierra Chart Pre-Release version 868, I'm using 867. Yeah right, a pre-release version for live trading? Are you kidding me? So, they didn't even know why my order was not accepted and frankly, they didn't really seem to care either by fobbing me off with a pre-release.

I then asked them why no-one would answer my call in the European morning and they said that I didn't call from a registered number. SO WHAT?! So, I can only get through to the trade desk with a registered phone?! I was speechless. What if my phone doesn't have Caller ID? What if my phone battery is dead and I need to use a different phone? Duh!

They then told me that I could and I would just need to enter my account number when asked on the phone. I did that, but then the phone system hung up on me after 5 minutes of waiting. I told them I was considering moving brokers and they offered me a free wire out. Gee thanks Velocity.

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  #206 (permalink)
 tomgilb 
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keymoo View Post
This is a solution I have considered before. Use Infinity for brokerage and IQ Feed for data. I do like to trade from the charts though. Hmmmm.... I may eventually go with that, however I may test Infinity tomorrow by calling them at 9am UK time to see if they answer.

However I decided to go with Velocity off the back of the webinar you did as then I would not need two separate feeds and could trade from the charts. It's a shame they have let me down because I really liked them to start with, or perhaps all brokers are deficient in some way, just have to choose the least bad among them?

Velocity customer service is only available during the US RTH. During these hours they are prompt.

There is no better data feed that DTN IQFeed. With the exchange fee waiver, it is 85/mo USD.

I use it with Velocity/TT and I trade from the charts using the Remote Data file from the IQfeed instance of Sierra. It works great. The TT feed may be unfiltered but it is wholly inadequate (i.e. inaccurate) for any cumulative delta or bid/ask trading.

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  #207 (permalink)
 keymoo 
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Really sorry to take up so much of this thread for my own selfish reasons, but I thought they should be shared. I asked Sierra Chart what the problem was and they told me it was because I had the wrong symbol on my chart. Simple as that, why couldn't Velocity have just told me that instead of telling me to get a pre-release? So, because I had been using the SC Historical Intraday data over the weekend and had not manually changed my charts back to the TT symbol, I could not place the order. Simple.

I will try hard not to spam this thread any longer!

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  #208 (permalink)
 josh 
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No worries keymoo; the main issue you had was with the support, and I agree that it's a little disconcerting that not one person is available during non-US hours.

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  #209 (permalink)
Amnesia
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My Review for the experiences i've had so far:

1) Application:

Well i opened up my Application on Sunday, the plattform to signup/register is very clear and concise and there is little to no missunderstanding or Problems. I especially enjoy the fact that i was able to do everything online unlike with other brokers where i had to file out annoying paperwork and Fax email it back and forward. This was a pleasant change for me.

Basically by Monday i was able to start doing wiretransfers and sign the remaining documents such as the W8BEN form.

Wiring the Money was a Breeze and it took exactly 25 Hours until my account was funded and i am right now awaiting the confirmation from compliance regarding my trading credit/Risk Privilege to be completed.

And that was pretty much it, there really is nothing left to say, opening an account is easy and its a refreshing change.

2) Customer Support/Service:

This is something i really feel needs to be mentioned: It is spectacular, waiting times for the live chat are next to non existant, no waiting. Support is super fast and answered all my questions in a helpful, clear and concise matter and provided more information than i was asking for or needed but it was nice to have this as a backup reference.
Support is as mentioned very friendly unlike other brokers i had experiences with. E-Mail answer times are under an hour to under 30 minutes and my Phone talks have been very pleasant aswell.

There really is nothing from a service perspective that they could do better and other companies really need to take a look at the way velocity representatives are dealing with customers because this so far has been impeccable to say the very least.

3) Execution and Tech Support:

Well i only had a couple of tech questions, since i am familiar with X_trader as a platform (not an expert though) but most of my questions were answered more than satisfactory.

As for actual trading and execution i will updated this review once my account has been fully approved by the compliance department. They were so kind to provide me with another simulated/demo account for X_trader in the mean time which i will be using to setup my preferences for now, once trading commences i will update this review and also start my EUREX trading Journal/thread.


Conclusion:
Based on what i've seen so far, for anyone who is planning on moving from spot markets to the future markets i definitely recommend velocity futures. These guys are nothing but pure awesome so far, although i have to wait and see how the live execution is and how tech support is going to be once trading goes live. But if its anywhere near the customer support level then i will be a very happy trader at velocity for a long time

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  #210 (permalink)
Cigarist
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According to CFTC monthly financial reports, it seems net capital at Velocity has dropped from 66 mil to 61mil over the last month and from 72 mil since January.

For most other firms that I compared to, net capital has increased.

I dont know if this trend means anything? I hope not.

Maybe I am paranoid but you can't be too careful nowadays.

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  #211 (permalink)
 itrade2win 
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Found this thread on ET. Some of you may have seen this already. Ratings for Velocity Futures

We need to start a FCM rating thread here on futures.io (formerly BMT).

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  #212 (permalink)
 tomgilb 
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Cigarist View Post
According to CFTC monthly financial reports, it seems net capital at Velocity has dropped from 66 mil to 61mil over the last month and from 72 mil since January.

For most other firms that I compared to, net capital has increased.

I dont know if this trend means anything? I hope not.

Maybe I am paranoid but you can't be too careful nowadays.

Coincidentally, Velocity added an Account Maintenance Fee beginning Feb 1, 2012.

Fee Schedule | Velocity Futures

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  #213 (permalink)
 josh 
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tomgilb View Post
Coincidentally, Velocity added an Account Maintenance Fee beginning Feb 1, 2012.

Fee Schedule | Velocity Futures

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.

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  #214 (permalink)
 ThatManFromTexas 
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josh View Post
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.

You are correct sir.

Unfortunately on the internet people draw all kinds of conclusions... with no data points at all...

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #215 (permalink)
 Zondor 
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The same Atlas FCM rating that PFGBest had.
Hardly reassuring.
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.

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  #216 (permalink)
 josh 
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Zondor View Post
The same Atlas FCM rating that PFGBest had.
Hardly reassuring.
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.

You are about 6 days behind. Discussion on this started on this thread, post 18, and in subsequent posts:



And later new thread started to continue discussion here:


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  #217 (permalink)
 Koepisch 
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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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  #218 (permalink)
 djkiwi 
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Koepisch View Post
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.

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:





Cheers
DJ

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  #219 (permalink)
 Surly 
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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.

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Amnesia
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Surly View Post
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.

@Surly

Could you state some examples of disagreements you had?

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  #221 (permalink)
 Surly 
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Amnesia View Post
@Surly

Could you state some examples of disagreements you had?

I'm having difficulty with this reply because I'd like to help but I'm conflicted about giving specifics...

some examples:

When I was trying to put a daily loss limit in place, they were very inconsistent between what they represented to different customers telling some they offered that service and others that they didn't. Also, after they allowed me to establish a daily loss limit they were very difficult about it.

I received incorrect information from a rep about an open position after losing my trade server connection (as far as I know the disconnect wasn't on my end) - the rep clearly made a mistake. The way they handled this was unacceptable - they were clearly in the wrong but rather than simply acknowledge this they became indignant.

I tried to keep these stories general - in fact that details are much more egregious. In general I have had a very negative customer experience with velocity. That said, I have had no major problems with the data, fills, etc - had my customer experience been better I'd still trade with them.

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  #222 (permalink)
 itrade2win 
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Surly View Post
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.

Can I ask why you chose AMP and did you consider Mirus? I have been Velocity for just over a year and I understand and agree with your thoughts. I also found some disturbing info regarding Velocity and have been hesitant to post it. If someone would like the info I found PM and I will send it.

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  #223 (permalink)
 Surly 
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itrade2win View Post
Can I ask why you chose AMP and did you consider Mirus? I have been Velocity for just over a year and I understand and agree with your thoughts. I also found some disturbing info regarding Velocity and have been hesitant to post it. If someone would like the info I found PM and I will send it.

I was interested to read that you'd had similar experiences or opinions with Velocity. That was confirming for me so thanks for posting. I will not miss Velocity.

I called mirus and they only offered a $4.22/rt on the ES. Amp matched my velocity rate right away. I searched futures.io (formerly BMT) for info on AMP and saw several people say they were good including some members I respect - that was enough for me.

Let me know if you have any more q's.

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  #224 (permalink)
 Dale Box 
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Surly View Post
I was interested to read that you'd had similar experiences or opinions with Velocity. That was confirming for me so thanks for posting. I will not miss Velocity.

I called mirus and they only offered a $4.22/rt on the ES. Amp matched my velocity rate right away. I searched futures.io (formerly BMT) for info on AMP and saw several people say they were good including some members I respect - that was enough for me.

Let me know if you have any more q's.

Hi Surly,

When requesting your funds please include I said the wire fee should be waived.

Best regards,

Dale

If you have any questions about our services at Velocity Futures please send me a private message.
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  #225 (permalink)
 Surly 
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Dale Box View Post
Hi Surly,

When requesting your funds please include I said the wire fee should be waived.

Best regards,

Dale

That's very kind of you Dale, thank you.

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  #226 (permalink)
 Surly 
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Great. I posted my experience about Velocity on this forum and here's the thanks I get:

Effective immediately, your account with Velocity Futures is being closed for Business and Risk reasons exclusive to Velocity Futures.

Your funds will be forwarded to you immediately upon receipt of wiring instructions as to where you would like them sent.

Thank you for trading with Velocity Futures and good luck and continued success in your future trading.


I got that email yesterday - you can decide if you want to do business with a company who will pull this sort of thing.

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  #227 (permalink)
 liquidcci 
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Surly View Post
Great. I posted my experience about Velocity on this forum and here's the thanks I get:

Effective immediately, your account with Velocity Futures is being closed for Business and Risk reasons exclusive to Velocity Futures.

Your funds will be forwarded to you immediately upon receipt of wiring instructions as to where you would like them sent.

Thank you for trading with Velocity Futures and good luck and continued success in your future trading.


I got that email yesterday - you can decide if you want to do business with a company who will pull this sort of thing.

Wow. Would never open an account with them after reading that email.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #228 (permalink)
 Luger 
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Surly
I was interested to read that you'd had similar experiences or opinions with Velocity. That was confirming for me so thanks for posting. I will not miss Velocity.

I called mirus and they only offered a $4.22/rt on the ES. Amp matched my velocity rate right away. I searched futures.io (formerly BMT) for info on AMP and saw several people say they were good including some members I respect - that was enough for me.

Let me know if you have any more q's.


Dale Box View Post
Hi Surly,

When requesting your funds please include I said the wire fee should be waived.

Best regards,

Dale

You said you were leaving, they just made it easy on you. Went ahead and closed your account, just waiting on the wire instructions to get your money out the door. No wire fee either.

I would have done the same thing if I could match up a public forum post to a user account. If they ready to go, kick 'em to the curb.

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  #229 (permalink)
 liquidcci 
Austin, TX
 
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Luger View Post
You said you were leaving, they just made it easy on you. Went ahead and closed your account, just waiting on the wire instructions to get your money out the door. No wire fee either.

I would have done the same thing if I could match up a public forum post to a user account. If they ready to go, kick 'em to the curb.

@Luger really you would kick out a customer because they expressed dissatisfaction on a forum. Sounds like horrible customer service. How about read the complaint and do everything you can to win the customer back. I have no interest in battle with Velocity since I am not a customer and never have been. But I hate companies who treat customers bad. To me it is indicative of a companies internal culture that is something I could not trust especially in today's environment.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #230 (permalink)
 Luger 
Nashville, TN
 
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If they had already made the plans to leave, evaluated competitors, and gotten a deal. Yes, I would have done the same thing feeling like I had done them and me a service. To me it looks like he had already signed up for AMP, so he can just get the money wired there.

Cut that customer loose, and work harder on keeping the others happy.

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  #231 (permalink)
 liquidcci 
Austin, TX
 
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Luger View Post
If they had already made the plans to leave, evaluated competitors, and gotten a deal. Yes, I would have done the same thing feeling like I had done them and me a service. To me it looks like he had already signed up for AMP, so he can just get the money wired there.

Cut that customer loose, and work harder on keeping the others happy.

Who cares if they already signed up for AMP (maybe they want accounts at different brokerages). Until customer requests an account be closed it is just a snotty pouting customer service rep who would read a message board then close someones account. Horrible and childish in my opinion.

I run a business outside of trading and even when customers at times are unreasonable and treat me badly I take it. I act like a gentleman and try to win customer over. I don't throw temper tantrum and close customers account. If I had a rep that did that to one of of our customers I would actually fire them because in my opinion they either have character or maturity issues. I would not fire the customer because they don't work for me I work for them.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #232 (permalink)
 Luger 
Nashville, TN
 
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A rep should not be able to make that decision, I agree with that. But who knows, who actually pulled the plug on the account. They may be culling accounts anyways and his got chucked in there, maybe because he was mad maybe not.

Also, from my theoretical perspective in my imaginary business I would be providing great service so as to minimize problems like this...

Sorry for entering the thread out of boredom...

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  #233 (permalink)
 vegasfoster 
las vegas
 
Experience: Intermediate
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I hear what you are saying, but they have always been very helpful and responsive to me. But even if I received crappy customer service, the cheap commissions, free Sierra Chart, reliable and high quality data feed, excellent fills, and the fact I hardly ever need customer service in the first place, make Velocity a no-brainer in my opinion. Sierrra Chart and Velocity simply work in the best and most affordable combo I have found. As I've said before, my only real complaint is the annoying lack of ACH transfer capabilities, which hopefully they will address at some point.

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  #234 (permalink)
 Surly 
denver, colorado
 
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Luger View Post
You said you were leaving, they just made it easy on you. Went ahead and closed your account, just waiting on the wire instructions to get your money out the door. No wire fee either.

I would have done the same thing if I could match up a public forum post to a user account. If they ready to go, kick 'em to the curb.

I agree with you - doing exactly as you suggested is what a company who doesn't value their customers much would and should do. Of course if you valued your customers then simply waiting until they closed their account and requested a wire would be more appropriate.

I don't think I've been unfair on this forum - but if folks want information on different brokerages I think my story would be of interest to anyone considering where to clear their trades.

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
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  #235 (permalink)
Bowie
Kansas City, KS/USA
 
 
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Surly,

Thank you for the information you have shared in this thread. I am looking for a futures broker and had considered Velocity. I noticed a bit of that customer service abrasiveness during the "demo" process which gave me some concern. This thread confirms my suspicion that something is not quite right. The commissions look great, but in the end that does not make up for a broker treating its customers with disrespect. Why a broker would ever want to jeopardize their relationship with the ones who make it possible to keep the doors open is beyond me. They should realize that for every customer they disrespect, they just lost at least 10 other potential customers. I guess they are fine with playing the numbers game. Sooner or later that will catch up with them.

Really appreciate you exposing your experience so others can understand what really goes on behind the doors of this firm and better make a choice as to who they should do business with. I had heard others here mention a good experience with AMP as well. I will give them a look. Anyone in particular over there you are dealing with?

Thank you.


Bowie

ps - also thanks to liquidcci for the great post concerning the company/customer relationship

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  #236 (permalink)
 tomgilb 
Nashville TN USA
 
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vegasfoster View Post
I hear what you are saying, but they have always been very helpful and responsive to me. But even if I received crappy customer service, the cheap commissions, free Sierra Chart, reliable and high quality data feed, excellent fills, and the fact I hardly ever need customer service in the first place, make Velocity a no-brainer in my opinion. Sierrra Chart and Velocity simply work in the best and most affordable combo I have found. As I've said before, my only real complaint is the annoying lack of ACH transfer capabilities, which hopefully they will address at some point.

I also think the Velocity/Sierra is a great combo. My experience is similar. But here's another like/dislike:

Like:
Customer Portal on their website where you can see your current positions, acct balance, platform settings, statements, and other useful things.

Dislike:
The TT feed uses the daily average price to calculate your current average price when in a trade, instead of using the flat to flat average price. This is an erroneous value when in a trade, but is accurate when flat.

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  #237 (permalink)
 ThatManFromTexas 
Houston,Tx
 
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liquidcci View Post
Who cares if they already signed up for AMP (maybe they want accounts at different brokerages). Until customer requests an account be closed it is just a snotty pouting customer service rep who would read a message board then close someones account. Horrible and childish in my opinion.

I run a business outside of trading and even when customers at times are unreasonable and treat me badly I take it. I act like a gentleman and try to win customer over. I don't throw temper tantrum and close customers account. If I had a rep that did that to one of of our customers I would actually fire them because in my opinion they either have character or maturity issues. I would not fire the customer because they don't work for me I work for them.


vegasfoster View Post
I hear what you are saying, but they have always been very helpful and responsive to me. But even if I received crappy customer service, the cheap commissions, free Sierra Chart, reliable and high quality data feed, excellent fills, and the fact I hardly ever need customer service in the first place, make Velocity a no-brainer in my opinion. Sierrra Chart and Velocity simply work in the best and most affordable combo I have found. As I've said before, my only real complaint is the annoying lack of ACH transfer capabilities, which hopefully they will address at some point.

How we handled rude behavior back in my day....


I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #238 (permalink)
TheDude
london
 
 
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I'd like to point out to people that I used to be a Velocity customer for well over a year. I suggest you stay well away.

The staff I found to be quite rude. One (an Asian woman) would regularly talk over you and refuse to listen to issues at hand.

Senior management lied on occasion too.

Position reporting was wrong on several occasions - more than twice in one day!

Do a search on the NFA website and see for your self how often they have been fined for bad practice.

I used TT with them and it is clear (TT v DTN IQ Feed) they are throttling prices. Ive used TT with other FCM's and found it to keep up or surpass (just) IQ fine - so it wasnt TT, but Velocity's implementation.

These folk are cowboys. There are also way cheaper places too.

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  #239 (permalink)
 josh 
Georgia, US
 
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TheDude View Post
Ive used TT with other FCM's

Which ones?



TheDude View Post
There are also way cheaper places too.

Which ones? I have found one but admit I have not looked exhaustively.

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  #240 (permalink)
 Piston36 
Seattle Wa
 
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TheDude View Post
I'd like to point out to people that I used to be a Velocity customer for well over a year. I suggest you stay well away.

The staff I found to be quite rude. One (an Asian woman) would regularly talk over you and refuse to listen to issues at hand.

Senior management lied on occasion too.

Position reporting was wrong on several occasions - more than twice in one day!

Do a search on the NFA website and see for your self how often they have been fined for bad practice.

I used TT with them and it is clear (TT v DTN IQ Feed) they are throttling prices. Ive used TT with other FCM's and found it to keep up or surpass (just) IQ fine - so it wasnt TT, but Velocity's implementation.

These folk are cowboys. There are also way cheaper places too.



I would be interested in which brokers have similar commissions to Velocity that you would recommend?

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  #241 (permalink)
TheDude
london
 
 
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deep discount trading. Probably open to lower rates if you trade good size.
Advantage futures. you have to contact them for a quote, but they beat velocity when I called them easily.
Openecry. Again, you have to call up. These guys were the cheapest, but I hear the inhouse platform isnt so stable.

The first 2 offer TT on a license basis. The Velocity TT offering (I used the free and licensed versions) is an utter con. They only publish 5 levels of pricing, where as all the others offer the full 10 exchanges now publish. The data feed is also slower as I mentioned than at Advantage.

I spoke to Velocity on one occasion about the free TT offer. They said (this was a Velocity director - cant remember his name) that they pay for a full TT license for you and hope to make the money back on the higher commission they charge. This is bulls***t. It's a lie. If that were a viable economic model, everyone would do it. Secondly, I met a TT rep at a party in Chicago. We were talking FCM's. I asked about the Velocity thing and why others dont offer this. He said TT gave them a special deal to see if the model worked for TT. They regret it.

If you cant justify a TT license for the volume you trade, then I'd recommend CTS T4 at either of these 1st 2 brokers. It keeps up with the TT feed easy. It doesnt have the EPIQ data, but if you're not doing much size, then that may not make such a difference. Naturally T4 has other stuff TT doesnt too.

I hope that helps.

I cant stress enough how bad Velocity are.

Heres another example - I trade spreads quite a bit. I had call the desk to get out of a trade a few times. It took them 7 minutes (yes I timed them) to get the spread up, another 2 minutes to understand my position and what I needed to do (a simple calendar spread isnt rocket science folks). When I was with Refco (back in the day )all the common spreads would be on the brokers screen as a matter of course, and he'd understand spreads. It would take them 30 seconds tops to do the same trade!!

Disgusted!

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  #242 (permalink)
 traderwerks   is a Vendor
 
 
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TheDude View Post


Heres another example - I trade spreads quite a bit. I had call the desk to get out of a trade a few times. It took them 7 minutes (yes I timed them) to get the spread up, another 2 minutes to understand my position and what I needed to do (a simple calendar spread isnt rocket science folks). When I was with Refco (back in the day )all the common spreads would be on the brokers screen as a matter of course, and he'd understand spreads. It would take them 30 seconds tops to do the same trade!!

Disgusted!


@TheDude , do you use CTS T4 for spreads ?

Math. A gateway drug to reality.
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  #243 (permalink)
Amnesia
Vienna Austria
 
 
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TheDude View Post
I'd like to point out to people that I used to be a Velocity customer for well over a year. I suggest you stay well away.

The staff I found to be quite rude. One (an Asian woman) would regularly talk over you and refuse to listen to issues at hand.

Senior management lied on occasion too.

Position reporting was wrong on several occasions - more than twice in one day!

Do a search on the NFA website and see for your self how often they have been fined for bad practice.

I used TT with them and it is clear (TT v DTN IQ Feed) they are throttling prices. Ive used TT with other FCM's and found it to keep up or surpass (just) IQ fine - so it wasnt TT, but Velocity's implementation.

These folk are cowboys. There are also way cheaper places too.

Throtteling prices and reporting wrong?

Care to elaborate?

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  #244 (permalink)
Amnesia
Vienna Austria
 
 
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TheDude View Post
I'd like to point out to people that I used to be a Velocity customer for well over a year. I suggest you stay well away.

The staff I found to be quite rude. One (an Asian woman) would regularly talk over you and refuse to listen to issues at hand.

Senior management lied on occasion too.

Position reporting was wrong on several occasions - more than twice in one day!

Do a search on the NFA website and see for your self how often they have been fined for bad practice.

I used TT with them and it is clear (TT v DTN IQ Feed) they are throttling prices. Ive used TT with other FCM's and found it to keep up or surpass (just) IQ fine - so it wasnt TT, but Velocity's implementation.

These folk are cowboys. There are also way cheaper places too.

Throtteling prices and reporting wrong?

Care to elaborate?

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  #245 (permalink)
 keymoo 
Bedford, UK
 
Experience: Beginner
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TheDude View Post
The first 2 offer TT on a license basis. The Velocity TT offering (I used the free and licensed versions) is an utter con. They only publish 5 levels of pricing, where as all the others offer the full 10 exchanges now publish. The data feed is also slower as I mentioned than at Advantage.

I use TT with Sierra chart via Velocity and I get the full book. This is September ES on 3rd Sep 2012 Labor Day premarket.



I have had some customer service issues with them too, but the platform and feed has been quite stable so far, although I must admit I've only used it since June 2012.

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  #246 (permalink)
TheDude
london
 
 
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traderwerks View Post
@TheDude , do you use CTS T4 for spreads ?

Yes I do - and it's fine (as was TT).

One thing T4 has which I dont use but think is quite neat is the mini market feature. If you have an outright contract in the ladder, the mini market shows all the other contracts in the curve in a reduced format in mini ladders (same length, reduced width) along side - thus increasing the width of the ladder dramatically. This allows you to identify potential mispricings in the curve very quickly. I imagine for someone who day trades spreads for a few ticks, this would be invaluable. I trade spreads on a swing trading basis though - days to weeks.

T4 also has a spread matrix like TT as well if thats your thing.

You can trade any exchange strategy in T4 from a quote board or Matrix. Cals, Fly, Condor, etc.

TT is more configurable than T4 and a bit 'neater' I admit. However for the odd spread when opportunity knocks, T4 is fine. For day trading/scalping, the T4 ladder is more than adequate. It also as the static price ladder after settling wit TT. The only thing I miss is EPIQ in TT.

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  #247 (permalink)
 josh 
Georgia, US
 
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keymoo View Post
I use TT with Sierra chart via Velocity and I get the full book. This is September ES on 3rd Sep 2012 Labor Day premarket.

He's talking about X_Trader in this case.

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  #248 (permalink)
TheDude
london
 
 
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Amnesia View Post
Throtteling prices and reporting wrong?

Care to elaborate?

Sure...

They only published 5 prices in TT (although from the posters screen shot above, maybe Velocity are actually delivering what you pay exchange fees for now!!).

The price changes were slower than I could see on my IQ Feed T&S. The difference wasnt that noticeable, but it was there. The lag was only now and then, not all the time. It was fairly minor, but given the price you pay for TT, Velocity should have delivered a better feed. I imagine Velocity put way too many users on a TT server to cut costs given they arent really a quality outfit. You're only supposed to have 10-12 traders connected per TT gateway. Velocity probably put all their customers on 1 or 2 servers to save money.

The TT feed kept up with IQ feed no probs at the other places I mentioned earlier.

I should point out in fairness, I've got a 8MB line over ADSL+. It's a business ISP, not a retail home ISP service. I dont have a dedicated leased line.


As for the errors in position reporting, this is what happened on SEVERAL occasions. The first was the worst which I describe:

So I've finished trading for the day. I shut down my platform. I make sure I dont have any working orders.

Next day, I dont have time to trade, but I log into the Velocity portal. It shows me as being long a bunch of ES. WTF!!!!! Maybe I did have working orders left? But TT warns you of such when you log out. WTF!!! My equity is down 25%. WTF!!!!! I speed dial the desk. Like 8 rings later someone answers, then passes me to a desk. WTF!!!! Im now down 27% as the market is tanking. I ask to clarify my position. Im told Im long. I request a sell at market. Im told Im filled. I clarify I have no other working orders. He confirms. I hang up. I go out and take a walk, upset, angry and confused at how this could have happened. It will take me a month + to make that back. I log back into my portal to see what the real damage is in actual dollars. WTF!!!!! WTF!!!!! WTF!!!!! The portal now says Im SHORT A BUNCH!!! WTF!!!!!!!!!! WTF!!!!! Im a bit calmer at this point as I know the prior conversation would have been taped, so I shouldnt be short. I phone up and ask WTF is happening and why Im short. I wasnt given an explanation. I wasnt given an apology. Im just told my account position and balance would be restored to what it was the previous night. The whole incident kinda ruined my day!

Like I say, it happened a few more times, but I was less stressed as I realised it was yet another Velocity screw up. I just closed the account and moved on....

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  #249 (permalink)
 nichtsnutz 
Portland, Oregon
 
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TheDude View Post
The first 2 offer TT on a license basis. The Velocity TT offering (I used the free and licensed versions) is an utter con. They only publish 5 levels of pricing, where as all the others offer the full 10 exchanges now publish. The data feed is also slower as I mentioned than at Advantage.

Free X_Trader with 10 levels.


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  #250 (permalink)
TheDude
london
 
 
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Like I say - looks like they give you what you pay for now.

This experience was last year.

Maybe I was on their black list of schmucks to screw over? It sure felt like it.

How about CME contracts (ES, 6E, GE, HE etc?)

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  #251 (permalink)
 itrade2win 
New York
 
Experience: Intermediate
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I was with Velocity for over a year and never had an issue with them. But what became concerning to me was the what I found about an executive having felony charges for theft and embezzlement. Case Summary

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  #252 (permalink)
 josh 
Georgia, US
 
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TheDude View Post
deep discount trading. Probably open to lower rates if you trade good size.
Advantage futures. you have to contact them for a quote, but they beat velocity when I called them easily.

Maybe if you are using XTrader, I don't know their pricing model. But for the two others I have used, quoting ES:

DDT Ninja: $3.32 + $0.30 (TT) + $0.20 (static DOM) => $3.82 RT all in
Velocity Ninja: $3.82 all in
Advantage: I will check, but I just called out of curiosity and a guy who sounded like he was asleep mumbled something about labor day and wasn't very helpful, said to call when sales people were there or send an email, which I'll do for kicks.

DDT Sierra: $3.32 + $0.30 => $3.62 RT all in
Velocity Sierra: $3.62 RT all in

So far, DDT and Velocity are dead even for the two products I like, Ninja and Sierra. Maybe for other products they are drastically different but so far I see no real evidence of much lower prices. This is for first contract traded of course, and they will probably differ when real volume is traded, but I'm talking about the initial cost.

The CTS T4 platform DOM is pretty good, but the program as a whole looks like it was written with 1995 style widgets, and is quite slow. Their charts don't even allow full RGB color selection for backgrounds, and the DOM is nice but at the end of the day, nothing special. I love their server-side OCO features, but at $1 extra RT, unless one really needs the spreading tools you mentioned earlier, CTS is quite overpriced. This caps at $500 however, so if someone is doing serious size and needs good data, then a cost analysis might reveal the viability of this as a good option.

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  #253 (permalink)
 Piston36 
Seattle Wa
 
Experience: Intermediate
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josh View Post
Maybe if you are using XTrader, I don't know their pricing model. But for the two others I have used, quoting ES:

DDT Ninja: $3.32 + $0.30 (TT) + $0.20 (static DOM) => $3.82 RT all in
Velocity Ninja: $3.82 all in
Advantage: I will check, but I just called out of curiosity and a guy who sounded like he was asleep mumbled something about labor day and wasn't very helpful, said to call when sales people were there or send an email, which I'll do for kicks.

DDT Sierra: $3.32 + $0.30 => $3.62 RT all in
Velocity Sierra: $3.62 RT all in

So far, DDT and Velocity are dead even for the two products I like, Ninja and Sierra. Maybe for other products they are drastically different but so far I see no real evidence of much lower prices. This is for first contract traded of course, and they will probably differ when real volume is traded, but I'm talking about the initial cost.

The CTS T4 platform DOM is pretty good, but the program as a whole looks like it was written with 1995 style widgets, and is quite slow. Their charts don't even allow full RGB color selection for backgrounds, and the DOM is nice but at the end of the day, nothing special. I love their server-side OCO features, but at $1 extra RT, unless one really needs the spreading tools you mentioned earlier, CTS is quite overpriced. This caps at $500 however, so if someone is doing serious size and needs good data, then a cost analysis might reveal the viability of this as a good option.

Thanks for the information. I didn't see that Advantage offered Sierra. I also use both Ninja and Sierra, so keep me posted as to what you find and I will do the same.

Paul

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  #254 (permalink)
 josh 
Georgia, US
 
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TheDude View Post
The price changes were slower than I could see on my IQ Feed T&S. The difference wasnt that noticeable, but it was there. The lag was only now and then, not all the time. It was fairly minor, but given the price you pay for TT, Velocity should have delivered a better feed. I imagine Velocity put way too many users on a TT server to cut costs given they arent really a quality outfit. You're only supposed to have 10-12 traders connected per TT gateway. Velocity probably put all their customers on 1 or 2 servers to save money.

The TT feed kept up with IQ feed no probs at the other places I mentioned earlier.

I should point out in fairness, I've got a 8MB line over ADSL+. It's a business ISP, not a retail home ISP service. I dont have a dedicated leased line.

Perhaps something was wrong on the hops between your whiz-bang fast business ISP and Velocity's server then, because I have noticed just the opposite--IQFeed is a little slower than TT. On the same computer, on different computers, always.

You are using a lot of words like "I imagine Velocity put way too many users..." and "Velocity probably put all their ....". While I have my personal biases and favorites, I try to live in the world of reality with these kinds of things and leave the speculation aside. Your experience was that Velocity's TT was slower than IQFeed; mine is that it is faster than IQFeed. All the other is merely speculation and has no place in a discussion where logic and facts belong.



TheDude View Post
As for the errors in position reporting, this is what happened on SEVERAL occasions. The first was the worst which I describe:

This sounds like a truly horrendous experience and I can understand why you have a bit of a negative skew towards your broker if this indeed happened.

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  #255 (permalink)
 keymoo 
Bedford, UK
 
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itrade2win View Post
I was with Velocity for over a year and never had an issue with them. But what became concerning to me was the what I found about an executive having felony charges for theft and embezzlement. Case Summary

Now that scares me. I'm considering pulling my funds out based on that alone.

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  #256 (permalink)
TheDude
london
 
 
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josh View Post
I try to live in the world of reality with these kinds of things and leave the speculation aside.

*gulp*

Funny business for you to be in then!!



You seem quite eager to defend Velocity. Im quite happy not to!

I you or anyone is happy at Velocity, gets a good service, and happy paying over the odds on commission, then thats great. You should stick with them.

They say most futures traders last 6-9 months with no professional guidance. If that is the case, then they need all the help they can get - and that includes a good broker and low costs.

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  #257 (permalink)
 josh 
Georgia, US
 
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TheDude View Post
*gulp*

Funny business for you to be in then!!



You seem quite eager to defend Velocity. Im quite happy not to!

I you or anyone is happy at Velocity, gets a good service, and happy paying over the odds on commission, then thats great. You should stick with them.

They say most futures traders last 6-9 months with no professional guidance. If that is the case, then they need all the help they can get - and that includes a good broker and low costs.

There is no speculation as to the exact commission I will pay per side. This is what I'm referring to, obviously. You can say that others are much cheaper, but the numbers don't lie, as far as DDT vs. Velocity goes anyway--they are the same, whereas you said one was much less than the other. I will fairly post on this thread what I am quoted from Advantage, whether it be less or more, when I receive an email back from them. Again, I'm only interested in the numbers as far as commission rates go, because that's all that matters.

As far as defending them goes, you can look on this and other threads linked to from this thread in which I have posted both my own personal positive experiences with them, and expressed concern over other matters. You, however, after only 4 posts come in with an accusatory post that has a lot of subjectivity. Not that I'm denying anything that you say, but you sound emotional about things -- look how many times you wrote "WTF!!!!" in just one paragraph before, as you were recalling your experience. Again, I believe what you're saying, but I am trying to objectively examine the facts like who is faster, who is cheaper, etc., free from any emotions, because your emotions don't affect my business decisions in any way.

I would guess that any trader, whether retail or "professional," would want a "good broker and low costs," as you say. I would say that cost is important, but not the most important. You actually brought cost into the conversation when you advertised that "there are also way cheaper places too" so it is obviously an important criterion for you as well.

I'd like to add that I have no real skin in this game; I have a small account with Velocity but do business elsewhere also and am only interested in making sure that my money is safe, my execution is fast, and that my funds are diversified and not all in one place.

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  #258 (permalink)
TheDude
london
 
 
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josh View Post
but you sound emotional about things -- look how many times you wrote "WTF!!!!" in just one paragraph before, as you were recalling your experience. Again, I believe what you're saying, but I am trying to objectively examine the facts like who is faster, who is cheaper, etc., free from any emotions, because your emotions don't affect my business decisions in any way.

Wouldnt you be? A bunch of cowboys put incorrect positions in your account, TWICE, in a number of hours, that lead to almost a 30% decline in equity - would you get emotional? Even a little bit? Please answer honestly!

In all fairness though, I do think your 'facts and figures' you are trying to objectively compile will not show you the whole story.

For example, speed will depend on your internet connection. Costs will depend on your negotiating ability. Most brokers dont publish their costs. You have to call them, and they will typically base your quote as a starting point. It isnt reflective of what others will pay who may trade the same approx volume as you in similar products but have better or worse negotiating ability and knowledge of FCMs.

Anyway, I believe I have said all I have to say on Velocity. Like I said, Im just making sure people are aware of what their experiences MAY be like. If you're happy with them, then I'm happy for you too.


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  #259 (permalink)
 josh 
Georgia, US
 
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TheDude View Post
Wouldnt you be? A bunch of cowboys put incorrect positions in your account, TWICE, in a number of hours, that lead to almost a 30% decline in equity - would you get emotional? Even a little bit? Please answer honestly!

In all fairness though, I do think your 'facts and figures' you are trying to objectively compile will not show you the whole story.

For example, speed will depend on your internet connection. Costs will depend on your negotiating ability. Most brokers dont publish their costs. You have to call them, and they will typically base your quote as a starting point. It isnt reflective of what others will pay who may trade the same approx volume as you in similar products but have better or worse negotiating ability and knowledge of FCMs.

Anyway, I believe I have said all I have to say on Velocity. Like I said, Im just making sure people are aware of what their experiences MAY be like. If you're happy with them, then I'm happy for you too.


I would absolutely be upset, of course. And I agree that the published cost is not necessarily the final figure, I'm just comparing apples with apples, i.e., the starting quote.

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  #260 (permalink)
 josh 
Georgia, US
 
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I know this thread is about Velocity but here is the quote I received from Advantage Futures in email, posting as promised:


Quoting 
Please find below a breakdown of your cost to trade one E-mini S&P contract through Advantage:

Advantage Commission - $0.99 (average if you trade less than 100 contracts per month – see the attached Sliding Rate Calculator)
Exchange Fee - $0.75
Clearing Fee - $0.39
NFA Fee - $0.02
Total per side – $2.15
Total per RT - $4.30

Also, the minimum initial funding level is $10,000.

This is without a static DOM fee of $0.20 RT if using anything other than X_Trader. Velocity at this same base quote rate is $3.62, Advantage is $4.30. So negotiations and volume will play a role in the commission rate, but one is coming into the conversation with Advantage already at a $0.68 per trade disadvantage when compared to Velocity.

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  #261 (permalink)
 Nicolas11 
near Paris, France
 
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Hi,

(I have read the 10 last pages of this thread, back to end of 2011.)

I might be interested by Velocity in order to have X-Trader for an additional $1 round-trip on commission.

So I would be glad to read any additional feedback on this combination (X-Trader through Velocity).

I also have some technical points:
(1) The only instrument which is given as an example for commissions at the bottom of that page is ES. I guess that other instruments are also available. Correct?
(2) "X-Trader free" is for 1 exchange. Shall it be understood as "1 exchange at the same time"? I mean: is it still possible to trade EUREX in the morning and CME in the afternoon (European time)?
(3) There were a contradiction in previous posts: Free X-Trader is not limited to 5 levels for exchanges which provide 10?

However, I could also raise these three questions to Velocity directly. I would rather appreciate more general feedback on the pros and cons of X-Trader through Velocity.

Thanks in advance for any comment,

Nicolas

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  #262 (permalink)
TheDude
london
 
 
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When I used Velocity they only published 5, when all 10 were available elsewhere. It does seem they now publish all 10 by the other users posts.

As for 1 exchange, yes - you have to ask them to change the exchange each day. In my experience, this was slow as the staff are unresponsive - especially the online chat. I think its actually 1 support member pretending to be 'Operator 1....10'. I was always intrigued why they refuse to give out names.

Before you open an account with Velocity, do the research in to the owner, and ask your self if you are happy leaving your money with someone with such a record.

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  #263 (permalink)
 Koepisch 
@ Germany
 
Experience: Beginner
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At all other FCM's: Please build your customer portal like Velocity does and be sure it works correctly. Then i'm sure you get ALL customers from Velocity at once.

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  #264 (permalink)
 Dale Box 
Houston Texas USA
 
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Gents,


The posting regarding an executive (me) having felony charges for embezzlement is untrue and unfair. Velocity denies this and would note that no executive at Velocity has ever been convicted of a felony, period. A few of you obviously have it out for Velocity but I’d suggest doing more research before making such claims. I have been with Velocity since 2002, first registered with the NFA in 2005, and have NEVER had any regulatory action taken against me regarding anything industry related. I have worked my way from zero to COO. I would never do anything to jeopardize Velocity or my career. I have absolutely nothing to hide from anyone.

The other posting recommending some research on the owner… please do research the owner. He is the most honest and hardworking person I have ever met.

Please remember there are two sides to every story… a lot of you like to bash firms knowing the firms story will never be told. If any of you had a bad experience here, I sincerely apologize.

My best regards to you all,

Dale

If you have any questions about our services at Velocity Futures please send me a private message.
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  #265 (permalink)
 ThatManFromTexas 
Houston,Tx
 
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itrade2win View Post
I was with Velocity for over a year and never had an issue with them. But what became concerning to me was the what I found about an executive having felony charges for theft and embezzlement. Case Summary


keymoo View Post
Now that scares me. I'm considering pulling my funds out based on that alone.


Dale Box View Post
Gents,


The posting regarding an executive (me) having felony charges for embezzlement is untrue and unfair. Velocity denies this and would note that no executive at Velocity has ever been convicted of a felony, period. A few of you obviously have it out for Velocity but I’d suggest doing more research before making such claims. I have been with Velocity since 2002, first registered with the NFA in 2005, and have NEVER had any regulatory action taken against me regarding anything industry related. I have worked my way from zero to COO. I would never do anything to jeopardize Velocity or my career. I have absolutely nothing to hide from anyone.

The other posting recommending some research on the owner… please do research the owner. He is the most honest and hardworking person I have ever met.

Please remember there are two sides to every story… a lot of you like to bash firms knowing the firms story will never be told. If any of you had a bad experience here, I sincerely apologize.

My best regards to you all,

Dale

@itrade2win @keymoo @Dale Box

If you read the supporting documents attached to the NFA case summary, you will see that Dale Box is telling the truth.

There were no felony charges for embezzlement.

I have no connection to nor a financial interest in Velocity Futures and I do not know Dale Box.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #266 (permalink)
 itrade2win 
New York
 
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ThatManFromTexas View Post
@itrade2win @keymoo @Dale Box

If you read the supporting documents attached to the NFA case summary, you will see that Dale Box is telling the truth.

There were no felony charges for embezzlement.

I have no connection to nor a financial interest in Velocity Futures and I do not know Dale Box.


In light of the circumstances, I decided to reply to this post and thread for the last time. I do owe Dale Box an apology for misspeaking about the actual charges. The NFA listed embezzlement, theft, and fraud as a category. After reading the "Final Order" attached below the actual charges were a felony for burglary in 1993 and a misdemeanor theft in 1997. If I am reading this incorrectly, then I will apologize.

Attached Thumbnails
Experience with Velocity Futures?-casedocument.pdf  
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  #267 (permalink)
 ThatManFromTexas 
Houston,Tx
 
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itrade2win View Post
In light of the circumstances, I decided to reply to this post and thread for the last time. I do owe Dale Box an apology for misspeaking about the actual charges. The NFA listed embezzlement, theft, and fraud as a category. After reading the "Final Order" attached below the actual charges were a felony for burglary in 1993 and a misdemeanor theft in 1997. If I am reading this incorrectly, then I will apologize.

@itrade2win

You are correct. I believe he was a teenager at the time.

I don't have a dog in this fight ... but I thank you for sharing actual research as opposed to unsubstantiated opinions

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #268 (permalink)
 keymoo 
Bedford, UK
 
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Dale Box View Post
Gents,


The posting regarding an executive (me) having felony charges for embezzlement is untrue and unfair. Velocity denies this and would note that no executive at Velocity has ever been convicted of a felony, period. A few of you obviously have it out for Velocity but I’d suggest doing more research before making such claims. I have been with Velocity since 2002, first registered with the NFA in 2005, and have NEVER had any regulatory action taken against me regarding anything industry related. I have worked my way from zero to COO. I would never do anything to jeopardize Velocity or my career. I have absolutely nothing to hide from anyone.

The other posting recommending some research on the owner… please do research the owner. He is the most honest and hardworking person I have ever met.

Please remember there are two sides to every story… a lot of you like to bash firms knowing the firms story will never be told. If any of you had a bad experience here, I sincerely apologize.

My best regards to you all,

Dale

Thanks for the reassurance, I hope you understand why traders are jumpy at the moment with the events over the last few years.

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  #269 (permalink)
 aligator 
Las Vegas, NV
 
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ThatManFromTexas View Post
@itrade2win

You are correct. I believe he was a teenager at the time.

@ThatManFromTexas,

This shows that if you wore a green diaper as a baby, it can come back later to haunt you and being accused as a tree huger.

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  #270 (permalink)
Hooper Crosby
Johnson City, TN
 
 
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Dale Box View Post

The posting regarding an executive (me) having felony charges for embezzlement is untrue and unfair. Velocity denies this and would note that no executive at Velocity has ever been convicted of a felony, period.

Actually, velocity neither confirmed or denied it. They reached a settlement in which you were on probation for a year. I think it's fair to bring the case to everyone's attention.

While you weren't convicted, you plead nolo, which has the same effect as a guilty, or no contest plea. I'm not a lawyer, but sounds like you went for the plea bargain in exchange for a lesser sentence.

Now I'm not out to ruin anybody's life, or pass judgment on your firm because of a mistake you made when you were a teenager. I just would have liked to see you come out and say, "look guys, I was a teenager, I made a mistake, I paid my dues, I'm a better man now because of it". I'm sure you're a great guy, and love your career, but denying that you ever did anything wrong, and claiming its all lies is unreasonable.

For the sake of transparency and entertainment, I don't suppose you'd share the story of your teenage idiocraty?

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  #271 (permalink)
 SARdynamite 
Belgium
 
Experience: Advanced
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Using the combo Velocity / TT / Sierra, can you please tell if when trading the FDAX on Eurex :
- the open position is reported instantaneously on the web portal ... or is the report delayed by a few minutes or not updated at all outside US RTH hours ?
- if carrying an overnight position, will my position be reset for the next electronic day session or will I see it on Sierra next day ?

Thanks

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  #272 (permalink)
 SARdynamite 
Belgium
 
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SARdynamite View Post
Using the combo Velocity / TT / Sierra, can you please tell if when trading the FDAX on Eurex :
- the open position is reported instantaneously on the web portal ... or is the report delayed by a few minutes or not updated at all outside US RTH hours ?
- if carrying an overnight position, will my position be reset for the next electronic day session or will I see it on Sierra next day ?

Thanks

Anyone ? I do prefer to refer to user-ended practical experience than a salesperson speech. Thanks in advance

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  #273 (permalink)
LEscoffie
Houston, TX
 
 
Posts: 1 since Dec 2011
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SARdynamite View Post
Anyone ? I do prefer to refer to user-ended practical experience than a salesperson speech. Thanks in advance

The customer portal has 2 tabs, one that will show you your position with a small lag typically of a minute or less (it will show you the last time it was updated) and another tab with your positions in Real-Time, but this is still in Beta mode.

Sierra will show you positions you held overnight, the position will be marked to market to the latest settlement price, it will not show your original entry.

If you are ever unsure of your position, or cannot access your portal, or believe you see a discrepancy, you can call the desk any time the market is open.

Hopefully this wasn't too sales-y and other people can weigh in with their individual experiences with our portal/Sierra/FDAX.

Luis Escoffie
Velocity Futures LLC

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  #274 (permalink)
Steve77
Arlington Va
 
 
Posts: 1 since Sep 2010
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I too can tell you Velocity is a TERRIBLE company run on a shoe string. They are not worth the discount. I had them for two years and Velocity made many mistakes which cost me quite a bit of capital. Long story short, I moved on. I recall one time they raised margin rates in the middle of the day and ripped me out of position.. cost me thousands. I called to complain and reps are rude, and the company really cares very little about their customers. Their answers is they can do what they want, and they felt volitility was too high so they flipped the switch to overnight margin. No warning, now calls, screw how it affects the customer. This is an example of how they deal with customers. They will ruin you in a minute without a concern about your as a customer. Never been treated so poorly by a broker in my life. MY suggestion. DON"T USE THEM. The savings initially will cost you huge in the long run. They also have a second website called futuresbroker.com. Same company.

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  #275 (permalink)
TheDude
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Steve77 View Post
I too can tell you Velocity is a TERRIBLE company run on a shoe string. They are not worth the discount. I had them for two years and Velocity made many mistakes which cost me quite a bit of capital. Long story short, I moved on. I recall one time they raised margin rates in the middle of the day and ripped me out of position.. cost me thousands. I called to complain and reps are rude, and the company really cares very little about their customers. Their answers is they can do what they want, and they felt volitility was too high so they flipped the switch to overnight margin. No warning, now calls, screw how it affects the customer. This is an example of how they deal with customers. They will ruin you in a minute without a concern about your as a customer. Never been treated so poorly by a broker in my life. MY suggestion. DON"T USE THEM. The savings initially will cost you huge in the long run. They also have a second website called futuresbroker.com. Same company.

Do you know what the next step will be?

You will get a threat of legal action from their lawyer for your post above. I'm not kidding.

Thats exactly what I got from my statements of FACT here on these forums about velocity. They sent some drivel about how I was putting their business in a bad light and this was potentially libellous or words similar to that! I ignored the fool. How can informing other people of bad service be illegal?

Velocity is a JOKE BROKER. They really are.

If I get any more silly correspondence from them, I will post it here for all to see. Name and Shame. Thats my policy. And if it gets deleted, I will make issues worse by posting the same on ET too - they are more liberal that futures.io (formerly BMT) and have a wider audience.

Telling people about bad experience is not against the law. Who do these jokers think they are? LOL!!!

What really bugged me though is theat I got a PM from BigMike following my TRUTHFUL posts asking if he could pass on my personal email to velocity so they could address my concerns. I asked him NOT TO. Nevertheless the following days I got the correspondence from velocity. hmmm. Can I trust this board to keep by ino private? Thats why I dont post here at all (a part from this post of course).

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  #276 (permalink)
TheDude
london
 
 
Posts: 166 since Jan 2012
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Id just like to say that since leaving velocity I am now with another broker and it is a different world!

Staff are polite.

Orders are executed promptly if you have to call the desk

Staff are knowledgeable about the industry

On the very rare occasion they make a mistake, they put their hands up, and correct it immediately.

Whats more they are CHEAPER than velocity.

It's a breath of fresh air!

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  #277 (permalink)
 Big Mike 
Site Administrator
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Manta, Ecuador
 
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TheDude View Post
What really bugged me though is theat I got a PM from BigMike following my TRUTHFUL posts asking if he could pass on my personal email to velocity so they could address my concerns. I asked him NOT TO. Nevertheless the following days I got the correspondence from velocity. hmmm. Can I trust this board to keep by ino private? Thats why I dont post here at all (a part from this post of course).

If you asked me not to, then I did not. If you don't trust me or if you don't like the forum, leave and don't come back.

Mike

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  #278 (permalink)
TheDude
london
 
 
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Big Mike View Post
If you asked me not to, then I did not. If you don't trust me or if you don't like the forum, leave and don't come back.

Mike

Thanks for the reply.

If you say you didn't then I believe you. I'm sure you can understand a degree of suspicion on my part given the close time difference between events.


The reason I didn't want my details passed on to them is because I have pretty much washed my hands with them. I have no issue telling people about how I was treated however as I dont want anyone else to have a similar experience. Other than that, it really is good riddance from me as far as they go. I understand that others havent been as unfortunate as I was with them, and they think velocity are great. I respect that.

Anyway, water under the bridge as they say.

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  #279 (permalink)
 Big Mike 
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TheDude View Post
Thanks for the reply.

If you say you didn't then I believe you. I'm sure you can understand a degree of suspicion on my part given the close time difference between events.


The reason I didn't want my details passed on to them is because I have pretty much washed my hands with them. I have no issue telling people about how I was treated however as I dont want anyone else to have a similar experience. Other than that, it really is good riddance from me as far as they go. I understand that others havent been as unfortunate as I was with them, and they think velocity are great. I respect that.

Anyway, water under the bridge as they say.

I would imagine they determined who you were based on your comments. I don't think it is unusual for a company to try and reach out to solve a problem. In this case, you didn't want them to do that it would seem. I would imagine they would have no way of knowing that unless in your private communication with them you told them you didn't want them to respond.

Mike

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  #280 (permalink)
TheDude
london
 
 
Posts: 166 since Jan 2012
Thanks: 43 given, 162 received


Big Mike View Post
I would imagine they determined who you were based on your comments. I don't think it is unusual for a company to try and reach out to solve a problem. In this case, you didn't want them to do that it would seem. I would imagine they would have no way of knowing that unless in your private communication with them you told them you didn't want them to respond.

Mike

LOL. 'Solve the problem' by threatening legal action for informing others of experience! Perhaps you should offer them your services as head of customer relations? Someone who seeks to resolve issues would probably be a very healthy addition to a business that seems not to care about its customers.

Perhaps they have realised the errors of their ways and are rebranding themselves with this futuresbroker.com outfit - it that is indeed them.

Anyway - enough from me on this. Lets see if there is anyone out there with positive experiences of velocity.... I'm sure there must be one or 2 good people in that place...... (Im not holding by breath though!)

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  #281 (permalink)
 jimjones26 
Tulsa OK
 
Experience: Beginner
Platform: NinjaTrader/Jigsaw Tools
Broker: Deep Discount Trading/TT
Trading: ZN, ZB
 
Posts: 162 since Jul 2009
Thanks: 138 given, 207 received

I just found out Velocity is raising their commissions on the X-Trader free account $2 per trade! Now instead of $3.49 per trade, I am going to have to pay $5.49 per trade on ZN! Needless to say I am pretty pissed off right now. This sort of move all but guarantees me paying up for the monthly license and going to a different broker. I don't get mad that easy but this really pisses me off.

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  #282 (permalink)
paulg
NY
 
 
Posts: 90 since Sep 2009
Thanks: 53 given, 22 received

And don't forget to read the latest email they sent you.

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  #283 (permalink)
ReaM
Los Angeles
 
 
Posts: 132 since Mar 2011
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I think they are screwing everyone right now. It may be the TT fault not their.

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  #284 (permalink)
 keymoo 
Bedford, UK
 
Experience: Beginner
Platform: SierraChart/TT Feed
Trading: NQ
 
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Posts: 129 since Mar 2012
Thanks: 212 given, 214 received

If you trade Eurex with TT/Velocity you should read the latest email.


Quoting 
Effective Friday, 6/14/2013, we will no longer offer EUREX via Trading Technologies (TT) connection. The platforms connecting via TT connection include X_TRADER, Sierra Chart, Ninja Trader and TT Fix Adaptor/TT fix connection. If your current trading platform is one of those, please make all necessary changes on trading prior to the close of Thursday, 6/13/2013.

We will still offer Eurex access with CQG data feed. An additional monthly fee will be charged if you require access to Eurex Exchange via either CQG or QST. Eurex is $72 per month Professional and $23 per month for Non-Professional with signed Non-Professional Status form.

Please contact us for more information regarding Eurex via the CQG Trader platform.


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  #285 (permalink)
TheDude
london
 
 
Posts: 166 since Jan 2012
Thanks: 43 given, 162 received

Can we run a book on how much longer Velocity remain in business?

I give them 6 months top.

I'm 5 bid at 8. Any takers?


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  #286 (permalink)
 tomgilb 
Nashville TN USA
 
Experience: Advanced
Platform: SierraChart
Broker: Sierra Futures/SC Denali
Trading: NQ ES YM
 
Posts: 435 since Nov 2009
Thanks: 169 given, 541 received

This is the latest disappointment from Velocity.

Feb 2012 : added monthly maintenance fee (<25 RT)
Feb 2013 : increased most commissions $0.13 RT
Feb 2013 : Withdrawals only by wire transfer, $30 fee.
Jun 2013 : No longer providing EUREX data feed via TT.

The latter is the most disappointing. It is the result of their clearing firm, and it affects all introducing brokers of Velocity.

deepdiscounttrading.com is not dropping EUREX from their TT feed.

Looks like it's time to make a move...

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  #287 (permalink)
ReaM
Los Angeles
 
 
Posts: 132 since Mar 2011
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Instead of dropping Eurex, they should've at least considered raising commissions 10c per side per contract or whatever is needed to cover the costs.

Yeah, I've been looking for a new broker all day.

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  #288 (permalink)
 addchild 
Bay Area California
 
Experience: None
Platform: TT T4
Broker: Phillip Capital
Trading: Futures
 
Posts: 808 since Nov 2011
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TheDude View Post
Can we run a book on how much longer Velocity remain in business?

I give them 6 months top.

I'm 5 bid at 8. Any takers?



+1

TT lower the cost of their retail platform velocity tried to increase their "free TT" commissions. I think now they dropped it all together.

Increasing costs to customers while cutting services, sounds like a company on life support.

.
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  #289 (permalink)
 jimjones26 
Tulsa OK
 
Experience: Beginner
Platform: NinjaTrader/Jigsaw Tools
Broker: Deep Discount Trading/TT
Trading: ZN, ZB
 
Posts: 162 since Jul 2009
Thanks: 138 given, 207 received

I got rid of them several months ago and couldn't be happier.

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  #290 (permalink)
 vegasfoster 
las vegas
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Velocity/IB
Trading: 6E
 
Posts: 1,147 since Feb 2010
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TheDude View Post
Can we run a book on how much longer Velocity remain in business?

I give them 6 months top.

I'm 5 bid at 8. Any takers? y

Is that speculation based up your dissatisfaction or do you know something we don't know?

I have no problems with them other than mandatory wires are ridiculous IMO. But the cost of one transfer per month is the same as the SC platform fee, so unless you do more than that then it's basically a wash. Deep Discount does seem to offer pretty low commission though, so I think I'm gonna look into it.

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  #291 (permalink)
Amnesia
Vienna Austria
 
 
Posts: 116 since Mar 2012
Thanks: 16 given, 67 received


tomgilb View Post
This is the latest disappointment from Velocity.

Feb 2012 : added monthly maintenance fee (<25 RT)
Feb 2013 : increased most commissions $0.13 RT
Feb 2013 : Withdrawals only by wire transfer, $30 fee.
Jun 2013 : No longer providing EUREX data feed via TT.

The latter is the most disappointing. It is the result of their clearing firm, and it affects all introducing brokers of Velocity.

deepdiscounttrading.com is not dropping EUREX from their TT feed.

Looks like it's time to make a move...

@tomgilb

I am trying to find information on the highlighted/bold part of the quote. Where did you receive this information from?

Right now I am highly dissapointed with Velocity dropping EUREX with TT, but Im not sure i quite understand why this move was made... why is this is a result of their clearing firm?
I'd appreciate some more information or an explanation =/

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  #292 (permalink)
ReaM
Los Angeles
 
 
Posts: 132 since Mar 2011
Thanks: 97 given, 110 received

It's because of EUREX.

Something about a new infrastructure, which brokers need to pay for.

"Migration of our product suite will continue until mid June 2013" as it says in the article.

However, other brokers did invest into that. Why don't they just increase the commissions?

Eurex - New trading architecture

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  #293 (permalink)
 notebookled 
vienna/vienna
 
Experience: Advanced
Platform: ninja trader, fusion, TOS
Trading: Stocks, Futures
 
Posts: 40 since Apr 2012
Thanks: 8 given, 18 received

velocity is HORRIBLE !!

my wire was rejected from BOA london. it toke velocity 5 days (!) to found out, that they are not possible anymore to hold new EURO accounts.

if i want a account, i would have to convert it into USD via the official BOA rate (and that sucks, because they are very high).


thats the email the send.... fuc*** up broker, never ever again.

_____________________




Christian,

In response to your correspondence regarding euro wires, I am wanted to make sure you are aware of the disclosure that is noted on our website regarding the receipt of euro and GBP wires. (For your convenience, a copy has been pasted below.)

In summary, due to recent regulatory changes and existing technical limitations, it is not possible for Velocity to receive and hold foreign wires. This means that Velocity must convert all foreign wires received to USD. To facilitate this process and make it more efficient, an auto-convert process was recently added to our account 005865158147 at Bank of America which also means that these funds should be sent directly to Bank of America in New York. (This is why we recently sent you our revised wire instructions.)

We regret any inconveniences to you and our foreign customers; however, due to the reasons noted above, we are required to operate as such until the technical limitations are fully addressed.

Sincerely,
Debbie Hawthorne


NOTICE TO OUR FOREIGN CUSTOMERS REGARDING INCOMING EURO AND GBP WIRES:

The National Futures Association (NFA) recently implemented enhanced customer protection rules which, among other things, updated the financial reporting requirements for all FCMs (Futures Commission Merchants) holding customer segregated funds and customer secured funds. As an NFA member and an FCM, Velocity Futures has been working to address the requirements of these recent changes; however, due to certain technical limitations beyond our control which impact these reporting requirements, effective immediately, Velocity Futures will no longer hold foreign currencies in its U.S. domiciled bank account and instead will convert all incoming wires of foreign currency to U.S. dollars.

This change will NOT affect the trading of products on foreign exchanges and outgoing wires may be requested in either Euro or British pound currencies. However, until all issues relating to this reporting are fully addressed, Velocity must hold all customer funds in U.S. dollars.

To help accommodate our foreign customers, and until further notice, Velocity will suspend all currency conversion charges for incoming wires of foreign currency.

We regret any inconvenience this may cause as we work to find and implement a permanent solution to meet the requirements of these new rules. Please feel free to contact Operations@velocityfutures.com with any questions.

--
Hawthorne, Debbie
Velocity Futures Operations
operations@velocityfutures.com

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  #294 (permalink)
TheDude
london
 
 
Posts: 166 since Jan 2012
Thanks: 43 given, 162 received


notebookled View Post
velocity is HORRIBLE !!

my wire was rejected from BOA london. it toke velocity 5 days (!) to found out, that they are not possible anymore to hold new EURO accounts.

if i want a account, i would have to convert it into USD via the official BOA rate (and that sucks, because they are very high).


thats the email the send.... fuc*** up broker, never ever again.

_____________________




Christian,

In response to your correspondence regarding euro wires, I am wanted to make sure you are aware of the disclosure that is noted on our website regarding the receipt of euro and GBP wires. (For your convenience, a copy has been pasted below.)

In summary, due to recent regulatory changes and existing technical limitations, it is not possible for Velocity to receive and hold foreign wires. This means that Velocity must convert all foreign wires received to USD. To facilitate this process and make it more efficient, an auto-convert process was recently added to our account 005865158147 at Bank of America which also means that these funds should be sent directly to Bank of America in New York. (This is why we recently sent you our revised wire instructions.)

We regret any inconveniences to you and our foreign customers; however, due to the reasons noted above, we are required to operate as such until the technical limitations are fully addressed.

Sincerely,
Debbie Hawthorne


NOTICE TO OUR FOREIGN CUSTOMERS REGARDING INCOMING EURO AND GBP WIRES:

The National Futures Association (NFA) recently implemented enhanced customer protection rules which, among other things, updated the financial reporting requirements for all FCMs (Futures Commission Merchants) holding customer segregated funds and customer secured funds. As an NFA member and an FCM, Velocity Futures has been working to address the requirements of these recent changes; however, due to certain technical limitations beyond our control which impact these reporting requirements, effective immediately, Velocity Futures will no longer hold foreign currencies in its U.S. domiciled bank account and instead will convert all incoming wires of foreign currency to U.S. dollars.

This change will NOT affect the trading of products on foreign exchanges and outgoing wires may be requested in either Euro or British pound currencies. However, until all issues relating to this reporting are fully addressed, Velocity must hold all customer funds in U.S. dollars.

To help accommodate our foreign customers, and until further notice, Velocity will suspend all currency conversion charges for incoming wires of foreign currency.

We regret any inconvenience this may cause as we work to find and implement a permanent solution to meet the requirements of these new rules. Please feel free to contact Operations@velocityfutures.com with any questions.

--
Hawthorne, Debbie
Velocity Futures Operations
operations@velocityfutures.com



This really doesnt make much sense to me.

If you want to trade contracts denominated in a foreign currency, you need an account with a balance in that currency.

Are they saying that you cant have balances in other currencies, or are they saying you need to convert your Euros to USD before wiring, then when they hit Velocity they convert to Euro again? (ie you get 2 retail FX beatings?). Is this another cheap trick to make more money by demanding they get an FX spread out of you as well?


Also who's 'regulatory changes' state you can no longer wire in foreign currency to the USA? DOH!!! I love their use of 'regulatory' word to make it sound federal. It's BS. Every other broker allows this. Their regulatory department may be, but there is no CFTC, NFA, SEC or other OFFICIAL regulatory body that prohibits the wiring in of foreign funds.

May be they are prohibited to receive foreign money because they are on the ropes? I think they are on the last page of Chapter 10. We know whats on the next page!

I'm tightening my spread. I'm now 6 bid at 8 they are out of biz in 6 months. Any takers?

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  #295 (permalink)
 notebookled 
vienna/vienna
 
Experience: Advanced
Platform: ninja trader, fusion, TOS
Trading: Stocks, Futures
 
Posts: 40 since Apr 2012
Thanks: 8 given, 18 received

" May be they are prohibited to receive foreign money because they are on the ropes? I think they are on the last page of Chapter 10. We know whats on the next page!"


i had the same thought...


sad ... because velocity was a good broker with a good service, a friend of mine was trading there for years but he chang the broker now, because the cut the TT eurex connetion.

maybe velocity was "too good"

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  #296 (permalink)
 Big Mike 
Site Administrator
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Manta, Ecuador
 
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They are no longer a sponsor of futures.io (formerly BMT) in case anyone was wondering.

Mike

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  #297 (permalink)
ReaM
Los Angeles
 
 
Posts: 132 since Mar 2011
Thanks: 97 given, 110 received

"Dear Valued Customer:

Please take notice that Velocity Futures, LLC (“Velocity”) is discontinuing its business as a futures commission merchant and is becoming an introducing broker to Institutional Liquidity LLC (“ILQ”).....

....ILQ has purchased Velocity’s entire data center in Chicago, all of its computer systems, and has employed numerous employees from Velocity, thus assuring that ILQ will be able to provide all of the platforms and the same great service that Velocity provided to its customers. In addition, ILQ will make available all of your historical customer statements and IRS forms in its customer portal. ILQ will also begin offering you FOREX in addition to Futures utilizing your same account. Also, all commission agreements and colocation arrangements will be the same for your account with ILQ. "




Maybe it's a good thing, who knows. Just wanted to give you the news. It would be nice to hear from you who these ILQ people are.

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  #298 (permalink)
TheDude
london
 
 
Posts: 166 since Jan 2012
Thanks: 43 given, 162 received

Sounds like a re-branding exercise. An FCM is usually a clearing member. As far as I'm aware, Velocity were never clearing members anywhere, they only had execution memberships as NCM's at CME.

Maybe their business is dying so fast they cant justify the cost of becoming NCM's any more so they are going under someone elses number as an IB.

Given their track record, I cant imagine too many people queueing up to trade against velocity in an unregulated market (fx).

ILQ is a silly cheap name too. Anything with 'Institutional' in the title is clearly aimed at retail people who want to believe they are trading with the big firms. What a joke.

Same velocity, different badge. Same old same old....

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  #299 (permalink)
TheDude
london
 
 
Posts: 166 since Jan 2012
Thanks: 43 given, 162 received

F'ing hilarious!

Google search:

Case Summary

They've been done already for shady practices. Like I said, same old, same old.....


**TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS.**
COMPLAINT:

On June 6, 2012, NFA issued a Complaint charging ILQ with offsetting forex trades with unregulated counterparties; failing to report counterparties to NFA; failing to uphold high stadards of commercial honor and just and equitable principles of trade; allowing an unregistered individual to act in a capacity requiring registration as an AP; and allowing an individual who was not approved as a forex AP by NFA to commence forex activities.

ANSWER:

On July 19, 2012, ILQ filed an Answer to the Complaint in which the firm denied the material allegations contained therein.

DECISION:

On August 28, 2012, pursuant to a settlement offer submitted by ILQ, the firm was ordered to pay a $50,000 fine. In addition, the firm was ordered to adopt and execute written procedures within 60 days of the Decision and provide them to NFA.

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  #300 (permalink)
 jdrower 
Alameda, CA
 
Experience: Intermediate
Platform: Sierracharts
Trading: NQ
 
Posts: 45 since Oct 2011
Thanks: 170 given, 30 received

My account is with Velocity and it feels that after reading the posts about Velocity (and getting the news about ILQ) I should move my funds elsewhere.

I'd be grateful for suggestions as to whom I should trust.

Thanks
JD

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