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Experience with Velocity Futures?
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Experience with Velocity Futures?

  #131 (permalink)
Elite Member
Irvine, CA
 
Futures Experience: Intermediate
Platform: NinjaTrader
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josh View Post
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?

I spoke with Dale Box and Debbi.

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  #132 (permalink)
Trading for Fun
athens,greece
 
Futures Experience: Intermediate
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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!

could you please share more information because a lot of guys here are with velocity?
i myself have been trading with them for over a year and i think they are great.
the commissions are very low and the customer service department are really good.
wheneveer i needed them they were in handy.

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  #133 (permalink)
Site Administrator
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tradethetick View Post
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???

They wouldn't, would be the most logical answer.... which means there is more to your story than you are letting on, it would seem.

As far as I can remember, this is the first time anyone has ever said anything negative like this about Velocity. So if you had a bad experience with them, then just move on elsewhere and maybe take a closer look at whatever else you did during this "event" that may have caused them to close your account.

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  #134 (permalink)
Elite Member
Irvine, CA
 
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Big Mike View Post
They wouldn't, would be the most logical answer.... which means there is more to your story than you are letting on, it would seem.

As far as I can remember, this is the first time anyone has ever said anything negative like this about Velocity. So if you had a bad experience with them, then just move on elsewhere and maybe take a closer look at whatever else you did during this "event" that may have caused them to close your account.

Mike

Big Mike,

Glad to hear that no one else has voiced a concern like this about Velocity. I tried to get a further explanation from them but I was not given one. In almost 5 years of trading I have never seen anything like that before. I have accounts with other brokers and have never had that happen. I just wanted to get feedback and warn others.

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  #135 (permalink)
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tradethetick View Post
Big Mike,

Glad to hear that no one else has voiced a concern like this about Velocity. I tried to get a further explanation from them but I was not given one. In almost 5 years of trading I have never seen anything like that before. I have accounts with other brokers and have never had that happen. I just wanted to get feedback and warn others.

my 2 cents, if you truly want to help others, ignore @Big Mike's advice and please show/document how the case took place if you are able to... what you are stating is somewhat serious.. and yes, an FCM does have the ability and right to close your account if they so desire.. people should read the fine print of what they sign when it comes to agreements.. but it is not something that is normally done, so for it to be done to you, as Mike says, something is amiss.. and please document if you can..

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  #136 (permalink)
 Vendor: www.velocityfutures.com 
Houston, Texas
 
Futures Experience: None
Platform: x_Trader
Favorite Futures: ES
 
Posts: 10 since Jan 2011
Thanks: 3 given, 16 received

While not having the time to address every inaccuracy in these posts, I will simply say that Velocity Futures does not close accounts because a client asks us to investigate an exchange’s handling of an order. We do this kind of investigation all the time and are happy to do so.
However, Velocity has been forced on rare occasions to close the account of a client that is unreasonable, abusive or who makes baseless accusations against Velocity or its staff. This is especially true when a clear and accurate explanation of a questioned trade has already been provided by the exchange and relayed to the client by Velocity’s support desk and the client persists in the offensive conduct.

If you have any questions about our services at Velocity Futures please send me a private message.
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  #137 (permalink)
Trading for Fun
Wash DC
 
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Not sure they best way to handle this post, new to the site. I am quoting a post from the deepdiscount thread by @Dale Box, but regarding Velocity Futures (who it appears he represents).



Dale Box View Post
Not only does Velocity do it, we also pay the $25.00 fee.

So the prices listed on your website are 50 cents less than presented with CQGTrader after 740 r/ts?

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  #138 (permalink)
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Frank Ricard View Post
Not sure they best way to handle this post, new to the site. I am quoting a post from the deepdiscount thread by @Dale Box, but regarding Velocity Futures (who it appears he represents).




So the prices listed on your website are 50 cents less than presented with CQGTrader after 740 r/ts?

let me know when they respond to you, everytime they are asked in a public forum they dont respond..

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  #139 (permalink)
Trading for Fun
Wash DC
 
Futures Experience: Intermediate
Platform: multiple
Favorite Futures: varies
 
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sysot1t View Post
let me know when they respond to you, everytime they are asked in a public forum they dont respond..

Does that mean if I call and ask him on the phone he will say yes?

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  #140 (permalink)
 Vendor: www.velocityfutures.com 
Houston Texas USA
 
Futures Experience: Advanced
Platform: X_TRADER
 
Posts: 63 since Sep 2010
Thanks: 30 given, 42 received



sysot1t View Post
let me know when they respond to you, everytime they are asked in a public forum they dont respond..

???

If you have any questions about our services at Velocity Futures please send me a private message.
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