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Experience with Velocity Futures?
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Experience with Velocity Futures?

  #211 (permalink)
Student Of The Markets
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Ratings for Velocity Futures

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)
Elite Member
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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)
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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)
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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)
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Velocity does not have a very good spot on this list

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)
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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:

https://futures.io/brokers-data-feeds/19052-velocity-futures-charged-maintenance...dation-2.html#post239702

And later new thread started to continue discussion here:

https://futures.io/brokers-data-feeds/21685-atlas-ratings-fcms.html

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  #217 (permalink)
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Profit Margin

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)
Identify Evaluate Execute
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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:

https://futures.io/brokers-data-feeds/21648-futures-broker-due-diligence-notes-post-peregrine-financial-group-pfg.html



Cheers
DJ

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  #219 (permalink)
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Leaving Velocity Futures

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.

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
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  #220 (permalink)
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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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