Holy Cow! Velocity commisions just became a joke!

Nobody in there right mind would pay 6.65 unless they are getting something they need, do you spread exchange supported spreads within an exchange? maybe its right for you, idk
 
Quote from ChkitOut:

LOL, only a moron like yourself would be happy to pay more and never question anything.

please give me your address so i can send over some door to door junk salesman.

im sure velocity is in business to make sure their clients are getting good service. right, why didnt they send an email last month saying, hey guys, you may want to switch away from TT because we are jacking up rates 50%. no, instead they do it without warning. i dont care if its 5 dollars more i accidentally paid, its still bad business.

NOBODY should look at there statements and find surprises. OK?


idiot.
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Man you must be a shit trader if you can't afford to pay for TT outright or do 25 r/ts per month to avoid an inactivity surcharge.

BTW I don't use velocity to clear but know people that do and they find them OK but then they do reasonable volume and can afford the platform fees unlike yourself.

They clearly think you are a total asshole,you are proving that here by whining like a little bitch over a few bucks.
 
Quote from bathrobe:

Nobody in there right mind would pay 6.65 unless they are getting something they need, do you spread exchange supported spreads within an exchange? maybe its right for you, idk
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You are 100% right.

This loser needs the 6.65 per r/t as he/she cant afford the monthly platform fees.

I almost forgot - doesn't the free TT come with X-study too,basically this fool wants free order entry via the best in the industry,free charting/analytics and doesn't think that comes at ANY price.

I rest my case.
 
Quote from Maverick74:

OK, let me help explain this. The software is not free. When they use the word free most traders understand this term to mean it's a deferred cost, not an upfront cost. Most "small" traders don't like up front costs. Because they tend to stop trading and start again or they take hit and stop for a month and they get pissed when they paid all that money for the software and now are not going to use it. PATS software was the first company to come up with this model where they don't charge an upfront free and instead charge you on the back end. It caught on with small traders and many other firms followed suit. Just about everyone in the business understands this.

Now, as to the FCM model, these firms are struggling to stay afloat. They earn NOTHING on cash balances (thank you fed) and trading volumes are down across the board. FCM's have a lot of high fixed costs due to regulations. Honestly most these FCM's are going to go under.

Having said all that, I don't think Johnny one lot should be using TT anyway. He should be using Ninja or CT4. But just to prove my point how cheap traders are about upfront costs, Ninja sells a lifetime license for $1000. It's a one time fee. You pay it and you own the software for life! And you can take it to just about any broker. Many FCM's actually lease Ninja for $50 a month and one firm, AMP, charges nothing, again, they work it into their rates. And guess what traders do? Do they pay the 1k up front which is dirt cheap? Nope. They pay the monthly fee or inflated commissions. And this is my point. Traders want to pay on the back end. And most are willing to pay 10x more for the same software over the long term just so they don't have to cough up 1k.
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Very well said sir.
 
Quote from Dale Box:

Very well said sir.
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why not notify your customers a month ahead of time?

how much are you paying to TT per user of the "free" xtrader?

why is it even called free if you are paying for it with extremely high commisions, why not call it, alternate pricing structure?

Are you paying 800 per user as maverick said? since you are quoting his post as he is so knowledgeable. i suspect you would be losing money on every free xtrader user as they are generally low volume, small accounts.

i suspect i wont get an answer.
 
Quote from ChkitOut:

why not notify your customers a month ahead of time?

how much are you paying to TT per user of the "free" xtrader?
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We notified all customers 1 month ahead and also gave them a list of platforms with much cheaper ''all in'' commissions.

Velocity has always been very customer friendly. We are one of the few firms that charge exactly what TT charges us for the subscriptions. Most firms charge more than the $625... some of you might remember we used to charge $500 per month which meant us eating $125 per month per subscriber. There is a lot to factor in here... data center fees, connectivity fees, gateway license fees.

I'm sorry you're unhappy with us and I wish you the best at your new firm. Please email me directly if there is anything else I can do for you.

Best regards,
 
Quote from Dale Box:

We notified all customers 1 month ahead and also gave them a list of platforms with much cheaper ''all in'' commissions.
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huh, maybe i missed the email. ill go back and check.

so how much do you pay TT per user of free xtrader? id like to know if maverick is right or making stuff up out of thin air and then you go ahead and quote him as if he is all truth telling.
 
Maybe I'm missing something, but why not just switch brokers. IB is cheap and brackettrader is like 100 bucks a year I think.
Transact has a good platform. There are a lot of choices out there.
 
Quote from bigarrow:

Maybe I'm missing something, but why not just switch brokers. IB is cheap and brackettrader is like 100 bucks a year I think.
Transact has a good platform. There are a lot of choices out there.
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well, its a forum that has a category about discussing retail firms. so thats what im doing.

why else would ET have a "retail firm" section, just for fun? :confused:
 
Quote from Maverick74:

Actually I think the TT license is $625 not $800. I think the 800 is with the 2nd exchange. And YES, Velocity pays that. They do NOT get a discount. I know one of the top sales guys there. When I ran a prop office he use to take me out to dinner and try to sell me TT to our traders. We tried for years to get discounts. It was full license. So no, your $15 dollars in commissions a month is not going to cover their expense.
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This was my quote on March 22nd. I said $625. That is the cost of TT with once exchange.
 
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