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Experience with Velocity Futures?
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Experience with Velocity Futures?

  #281 (permalink)
Elite Member
Tulsa OK
 
Futures Experience: Beginner
Platform: NinjaTrader/Jigsaw Tools
Broker/Data: Deep Discount Trading/TT
Favorite Futures: ZN, ZB
 
Posts: 162 since Jul 2009
Thanks: 138 given, 206 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.

20,000,000

Last edited by jimjones26; March 17th, 2013 at 04:32 AM.
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  #282 (permalink)
Trading for Fun
NY
 
Futures Experience: Advanced
Platform: NinjaTrader
 
Posts: 89 since Sep 2009
Thanks: 53 given, 20 received

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

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  #283 (permalink)
Trading for Fun
Los Angeles
 
Futures Experience: Advanced
Platform: x_trader
Favorite Futures: Stocks
 
ReaM's Avatar
 
Posts: 127 since Mar 2011
Thanks: 96 given, 95 received


I think they are screwing everyone right now. It may be the TT fault not their.

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  #284 (permalink)
Elite Member
Bedford, UK
 
Futures Experience: Beginner
Platform: SierraChart/TT Feed
Favorite Futures: NQ
 
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Posts: 129 since Mar 2012
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Eurex and TT

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)
Trading for Fun
london
 
Futures Experience: None
Platform: various
Favorite Futures: Glockenspiel
 
Posts: 166 since Jan 2012
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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)
Elite Member
Phoenix AZ USA
 
Futures Experience: Advanced
Platform: SierraChart
Broker/Data: TradePro/TransAct
Favorite Futures: NQ YM ES
 
Posts: 291 since Nov 2009
Thanks: 124 given, 330 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)
Trading for Fun
Los Angeles
 
Futures Experience: Advanced
Platform: x_trader
Favorite Futures: Stocks
 
ReaM's Avatar
 
Posts: 127 since Mar 2011
Thanks: 96 given, 95 received

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)
Elite Member
Bay Area California
 
Futures Experience: None
Platform: TT T4
Favorite Futures: Futures
 
Posts: 719 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.

"If I agreed with you, we'd both be wrong."
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  #289 (permalink)
Elite Member
Tulsa OK
 
Futures Experience: Beginner
Platform: NinjaTrader/Jigsaw Tools
Broker/Data: Deep Discount Trading/TT
Favorite Futures: ZN, ZB
 
Posts: 162 since Jul 2009
Thanks: 138 given, 206 received

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

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  #290 (permalink)
Elite Member
las vegas
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: Velocity/IB
Favorite Futures: 6E
 
Posts: 1,147 since Feb 2010
Thanks: 304 given, 836 received



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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