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Experience with Velocity Futures?
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Experience with Velocity Futures?

  #151 (permalink)
Trading for Fun
Wash DC
 
Futures Experience: Intermediate
Platform: multiple
Favorite Futures: varies
 
Posts: 66 since Sep 2011
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sysot1t View Post
anyhow, as I said... i am merely curious... if my account was bigger, I would have just gone ahead and moved it to another clearing fcm and not bother asking the question... my main account today is with crossland and as such there is no additional middle man as they are a clearing fcm with full cme membership... once my account approaches the size I care to have in it, i will just split it across crossland and mbfcc and close my velocity backup.. but I am quite far from that event.. so in the mean time, I am ok with things...

let's see if they answer in any event.. somehow i have a feeling that they wont.. but I would like to be wrong.

mbf has meh rates and very stringent risk parameters.

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  #152 (permalink)
Membership Permanently Revoked
 
Futures Experience: Intermediate
 
Posts: 1,176 since Nov 2009
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Frank Ricard View Post
mbf has meh rates and very stringent risk parameters.

please provide more details.. when I reached out to them I probe briefly and wasnt all that concerned, but I wouldnt mind knowing another point of view. I am going to create a separate thread to discuss MBF, that way we dont take away from this one.

https://futures.io/brokers-data-feeds/14150-experiences-mbf-clearing-corp.html

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  #153 (permalink)
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sysot1t View Post
we have asked a few times already, but here it goes again.. and thanks for responding in advance.

from CQG the fee they charge to FCM's for CQG Trader is $25 per month, plus transaction fees(0.50c RT) until it hits $395, and then the platform fees stop.

assuming a customer trades 2000 contracts per month, and that his/her all in cost RT is $4.02 as per your website for CQG Trader..

simple question...

once the customer hits 740 contracts, does your $4.02 cost drops by 0.50c to $3.52 RT per contract, or does it remain at $4.02 per contract?

that is the essence of the debate.. ther other times I have asked, or others have asked via.. it hasnt been answered.

I guess Velocity Futures is not interested on answering the question... as I said before, we have asked and not gotten an answer... cant get any simpler than this... even matt from Optimus has answered this question, but Velocity is yet to provide a clear reply...

oh well, make your own conclusions.

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  #154 (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
I guess Velocity Futures is not interested on answering the question... as I said before, we have asked and not gotten an answer... cant get any simpler than this... even matt from Optimus has answered this question, but Velocity is yet to provide a clear reply...

oh well, make your own conclusions.

My apologies Sysot1t for not being able to post on forums immediately.

Not sure how I haven't already answered the question... YES...a rebate will be given if someone reaches the cap.

If you have any questions about our services at Velocity Futures please send me a private message.
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  #155 (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
I guess Velocity Futures is not interested on answering the question... as I said before, we have asked and not gotten an answer... cant get any simpler than this... even matt from Optimus has answered this question, but Velocity is yet to provide a clear reply...

oh well, make your own conclusions.


bluemele View Post
I am curious why it matters who they clear through? If an FCM has a 'clearing' issue then it is between those they have the agreement with. Themselves and would do little with us. Any issues through the FCM and the Clearing House would be still brought up through the FCM and be documented as such.

I am curious why it matters, not as a challenge, but as my understanding as it seems it "SHOULD" not matter from what I have been exposed to.


You're exactly right sir. Your account is with the FCM, not the clearing FCM.

If you have any questions about our services at Velocity Futures please send me a private message.
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  #156 (permalink)
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Dale Box View Post
My apologies Sysot1t for not being able to post on forums immediately.

Not sure how I haven't already answered the question... YES...a rebate will be given if someone reaches the cap.

so a rebate will be issued for any and all contracts that are traded above the required number for any CQG Trader users..

which would mean, for a customer trading 2000RT, once it surpases the 740RT cap, you will rebate 1260 x $0.50 = $630 back to his/her account.. or $0.50 for the platform fee per RT above 740RT...

correct?

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  #157 (permalink)
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Dale Box View Post
You're exactly right sir. Your account is with the FCM, not the clearing FCM.

not sure to whom you were addressing the response.. but to my question above, who is clearing for you then? because that I know of, you still need to deposit funds with them, right? but regardless of that... who are you using to clear... thanks in advance.

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  #158 (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

Your funds are deposited with us, not the other FCMs. We have relationships with several clearing FCMs, primarily New Edge and ABN Amro. Please feel free to contact us if you have further questions.

If you have any questions about our services at Velocity Futures please send me a private message.
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  #159 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
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I love your daily comparison's between traders. That is really nice and thanks for allowing others to show the leaderboard. I think that is inspirational and good for everyone to see where traders 'lie'. haha..

One thing that I think would be cool is to add sharpe ratio for the traders and allow them to pick up clients if they are CTA etc.. Might not be a bad idea as I have seen other forex brokers do that internationally.

Just an idea for your clients to grow if they leverage funds etc..

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  #160 (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


Thanks bluemele. We are alwase looking for ideas to expand the leader board community. The best of them come from traders like you.

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