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(I have read the 10 last pages of this thread, back to end of 2011.)
I might be interested by Velocity in order to have X-Trader for an additional $1 round-trip on commission.
So I would be glad to read any additional feedback on this combination (X-Trader through Velocity).
I also have some technical points:
(1) The only instrument which is given as an example for commissions at the bottom of that page is ES. I guess that other instruments are also available. Correct?
(2) "X-Trader free" is for 1 exchange. Shall it be understood as "1 exchange at the same time"? I mean: is it still possible to trade EUREX in the morning and CME in the afternoon (European time)?
(3) There were a contradiction in previous posts: Free X-Trader is not limited to 5 levels for exchanges which provide 10?
However, I could also raise these three questions to Velocity directly. I would rather appreciate more general feedback on the pros and cons of X-Trader through Velocity.
Thanks in advance for any comment,
Nicolas
Can you help answer these questions from other members on NexusFi?
When I used Velocity they only published 5, when all 10 were available elsewhere. It does seem they now publish all 10 by the other users posts.
As for 1 exchange, yes - you have to ask them to change the exchange each day. In my experience, this was slow as the staff are unresponsive - especially the online chat. I think its actually 1 support member pretending to be 'Operator 1....10'. I was always intrigued why they refuse to give out names.
Before you open an account with Velocity, do the research in to the owner, and ask your self if you are happy leaving your money with someone with such a record.
At all other FCM's: Please build your customer portal like Velocity does and be sure it works correctly. Then i'm sure you get ALL customers from Velocity at once.
The posting regarding an executive (me) having felony charges for embezzlement is untrue and unfair. Velocity denies this and would note that no executive at Velocity has ever been convicted of a felony, period. A few of you obviously have it out for Velocity but I’d suggest doing more research before making such claims. I have been with Velocity since 2002, first registered with the NFA in 2005, and have NEVER had any regulatory action taken against me regarding anything industry related. I have worked my way from zero to COO. I would never do anything to jeopardize Velocity or my career. I have absolutely nothing to hide from anyone.
The other posting recommending some research on the owner… please do research the owner. He is the most honest and hardworking person I have ever met.
Please remember there are two sides to every story… a lot of you like to bash firms knowing the firms story will never be told. If any of you had a bad experience here, I sincerely apologize.
My best regards to you all,
Dale
If you have any questions about our services at Velocity Futures please send me a private message.
In light of the circumstances, I decided to reply to this post and thread for the last time. I do owe Dale Box an apology for misspeaking about the actual charges. The NFA listed embezzlement, theft, and fraud as a category. After reading the "Final Order" attached below the actual charges were a felony for burglary in 1993 and a misdemeanor theft in 1997. If I am reading this incorrectly, then I will apologize.
Actually, velocity neither confirmed or denied it. They reached a settlement in which you were on probation for a year. I think it's fair to bring the case to everyone's attention.
While you weren't convicted, you plead nolo, which has the same effect as a guilty, or no contest plea. I'm not a lawyer, but sounds like you went for the plea bargain in exchange for a lesser sentence.
Now I'm not out to ruin anybody's life, or pass judgment on your firm because of a mistake you made when you were a teenager. I just would have liked to see you come out and say, "look guys, I was a teenager, I made a mistake, I paid my dues, I'm a better man now because of it". I'm sure you're a great guy, and love your career, but denying that you ever did anything wrong, and claiming its all lies is unreasonable.
For the sake of transparency and entertainment, I don't suppose you'd share the story of your teenage idiocraty?
