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Experience with Velocity Futures?
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Experience with Velocity Futures?

  #121 (permalink)
Elite Member
VT, USA
 
Futures Experience: Beginner
Platform: NinjaTrader, AmiBroker, IB TWS
Broker/Data: Mirus/Zen-Fire, IB
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Big Mike View Post
@hoeman

Continuing our discussion from the Deep Discount thread:

https://futures.io/brokers-data-feeds/4605-deepdiscounttrading-broker-5.html#post84938 post 46 and forward...

I spoke to @Dale Box at Velocity, and he set me straight on a few things. So it seems I was wrong, you can't just select TT FIX and use it in NT. Even if you own a lifetime license of NT, you still have to pay NT royalties which they collect and then disperse to TT. So you are paying a premium on every trade for the privilege of using NT it seems.

So that brings us up from 3.60/rt on ES to 3.80/rt on ES. I am not sure about your Deep Discount guy, what or if/how the TT patent royalties enter that equation. Maybe the feed is Zen instead of TT.

Mike

With Deep Discount, including the TT royalties for Static SuperDOM, it comes out to 3.62 R/T. If you choose to disable Static SuperDOM and just use Chart Trader with Dynamic SuperDOM, it's 3.42 R/T. Pretty competitive, I gotta say.

Ugh, too bad I just can't get Dynamic SuperDOM. Really hard to trade with that.

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  #122 (permalink)
Elite Member
Denver, CO
 
Futures Experience: Intermediate
Platform: TS and MD/IRT with IQFeed
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Velocity Futures Update

Big Mike,

I am also looking to switch to another broker and am looking at Mirus, Velocity, Amp, and Advantage. From reading all of the posts here as well as on some of the other forums, I am leaning toward Velocity at the moment with X-Trader free. I use Marketdelta with IQfeed for charting, and am just looking for a more reliable DOM as well as good rates on ES, currency futures and the grains. I'm doing around 400 r/ts a month right now and increasing that to around 1000 as soon as I get my DOM squared away. That's all just for background.

My actual questions are:

- Now that you've been with Velocity for a while, are you still happy with your decision.
- I am always a little suspicious when I see rates that are almost a full $1 cheaper than similar competitors. Is there anything to worry about here?
- I am still evaluating the X-trader vs Ninja/TT decisions and am curious on your opinion of how much of a difference that really makes live? I realize this question might be hard to address but I haven't had a chance to demo either yet but noticed the substantial difference in price.

Thanks in advance for any input.

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  #123 (permalink)
Site Administrator
Manta, Ecuador
 
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cleon View Post
My actual questions are:

- Now that you've been with Velocity for a while, are you still happy with your decision.
- I am always a little suspicious when I see rates that are almost a full $1 cheaper than similar competitors. Is there anything to worry about here?
- I am still evaluating the X-trader vs Ninja/TT decisions and am curious on your opinion of how much of a difference that really makes live? I realize this question might be hard to address but I haven't had a chance to demo either yet but noticed the substantial difference in price.

Thanks in advance for any input.

1) Yes, I am very happy.
2) I am not worried. Call up Dale Box or exchange some emails with him and you can be the judge of if you feel comfortable with Velocity or not.
3) I stopped using X_Trader and started using Sierra Chart for DOM, and in both cases MultiCharts for charting. X_Trader is great but quite complex. I was checking out SC in general, just to stay up to date with platforms, and I really liked it and ended up switching to it for my DOM. If you are asking about live vs sim feed, yes there are major differences - the TT sim feed is much slower than a live feed.

Mike

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The following 6 users say Thank You to Big Mike for this post:
 
  #124 (permalink)
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Futures Experience: Intermediate
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Thanks Mike. I appreciate the info. My third question up there was just what you thought of X-Trader vs Ninja as a front end through Velocity but it sounds like it's a mute point since you've moved to Sierra Charts. Thanks again for the quick reply. I've enjoyed reading through the forum material.

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  #125 (permalink)
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Hello cleon, I still work on X-trader it's the best DOM out there and works so nice with the TT datafeed. If you do up to a 1000 trades a month you are cheaper off with a cheaper broker than Velocity and pay for the X-trader license ($675 monthly)

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  #126 (permalink)
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Cool - Thx Metal!

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  #127 (permalink)
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Just wanted to post that I have been quite happy with Velocity overall, and the only connection problems I have had are, I suspect, my own internet connectivity issues.

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  #128 (permalink)
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Phoenix AZ USA
 
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josh View Post
Just wanted to post that I have been quite happy with Velocity overall, and the only connection problems I have had are, I suspect, my own internet connectivity issues.

I concur. I am very pleased with Velocity's TT feed, their website's customer portal, and their service.

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  #129 (permalink)
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Caution!

I had an account with Velocity Futures. I had a question about an order and asked for the Time and Sales. I was told that I could not get that information. That was a red flag!! So I called the CME and they sent me the Time and Sales for the trade. Later that day, Velocity closed my account. Why would a broker close an account that was with them almost a year and had over $40K in it just because I asked for Time and Sales??? What are they hiding??? I never had a margin call, I don't hold overnight positions, and I risk less than 2% of my account. Be very very careful!

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  #130 (permalink)
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tradethetick View Post
I had an account with Velocity Futures. I had a question about an order and asked for the Time and Sales. I was told that I could not get that information. That was a red flag!! So I called the CME and they sent me the Time and Sales for the trade. Later that day, Velocity closed my account. Why would a broker close an account that was with them almost a year and had over $40K in it just because I asked for Time and Sales??? What are they hiding??? I never had a margin call, I don't hold overnight positions, and I risk less than 2% of my account. Be very very careful!

Your opinion may not have much weight, as you just signed up for your futures.io (formerly BMT) account, and you've only made this one defamatory post. Who did you speak with at Velocity?

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