New commission rates at Velocity Futures

Quote from BPtrader:

Dale,

Thanks for posting the commission rates, much better than IB's.

Before I switch to your firm, I have a few questions or concerns, hope you will address them, as I am sure some other traders share the same questions/concerns.

1. Is your trading platform as reliable and quick as IB's Trader Work Station?

To me, reliability and speed are the most important thing in trading, commission rate is secondary. I hate lagging platform, I hate freezing platform, I don't think those brokers with lagging or freezing platforms should be in business. I will never touch any firm with a lagging/freezing platform. Never.

2. Why are there so few comments on your firm in the "Brokers" secion on ET?

Usually it means fewer people are using Velocity Futures. I wonder why IB has so many comments. Obviously a lot of people are using IB, despite its higher commission rates.

TraderZones' comment certainly doesn't help your firm.

3. Do I have to pay for a trading platform?

Usually the fee for the platform is waived if a certain number of contracts are traded in a month. I wonder if your firm has this number.
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Hi all,

I am an existing customer of VelocityFutures and I am very satisfied with it. If I have any problems regarding market/connection I can contact trading desk support and they are very good at resolving issues.


1) Velocity provides you with several platforms, you can choose the best for your needs.

a) Ninja Trader costs you $50/month, it is continuously improving.

b) X-Trader Platform is the best for scalpers, so definitely there is no lag here. The technology is from TradingTechnologies firm, they provide you with good data feed over FIX API. X-Trader uses FIX - as far as I understand. For my purposes I am satisfied with FIX API feed. If you need milliseconds delay then probably you need to look into others, like Rithmic, by their commissions are greater.

2) I have not voted in the "Brokers" section yet. IB has both stocks and futures. It is very large firm with much more clients. Velocity is specializing on Futures trading only.

I've used IB but I was not satisfied, I will not provide details here, you can PM me.

3) It depents. X-Trader subscription costs like $750-$1500 per month, it is intended for active scalpers. Ninja costs $50/month. StrategyRunner and SQJ cost is included into commissions. There is also an option for X-Trader without subscription with larger commissions. You should count yourself.

I personally use raw FIX API, there is no platform cost here.

Best regards,
RR
 
As for stability. VelocityFutures uses TradingTechnology FIX adapter, TT continuously improving it. And unfortunately I met with some problems not a long time ago. I contacted TT tech support and my problem was resolved. But it was related to FIX API and it should not influence majority of clients.

Yes there may be problems, but not so many as I experienced with IB.
 
does velocity offer the T 4 software
I really like their software for trading futures
And what would be a decent advice fo some one who want to open a 25 K account to trade futures x - trader - ?
 
Quote from H2O:

Do you offer CQG integrated client, and if so at what platform cost? (basic - ex realtime datafees)

Also, what would comms be (Let's say for STIRS on Liffe / CME)
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H2O,

Sorry but we do not offer LIFFE at all through CQG Trader.

Best regards,
 
Quote from Swan Noir:

Dale ...

At one time your X-Trader rates (they were obviously higher then) only allowed one exchange that was picked in advance.

Could you spell out the current limitations, if any, on each platform. As an example I might not choose X-trader if I needed to specify a single exchange -- say the CME -- if CQG gave me the CME and/or Bot, NY Merc.

I want to be comparing apples to apples as I look at the options you offer.

BTW ... I think the CME is missing a major opportunity with their Micro-Currencies. If they slashed the fees and charges to the bone (or even waived them and encouraged their member firms cut commissions for six months you guys would get (with the right promotion) a ton of small traders that are now being used and abused on partial lots in the FOREX markets.

That market could do some volume. And, as I am sure you'll agree, markets without volume are a joke. If you make the small FOREX trader a sweet offer he'll never go back to the bucket shops even after the promo is done.
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Swan Noir,

The licensing is still the same. With X_TRADER you have access to all offered exchanges. You just do not have concurrent access (without a 2, 3, exchange sub or Pro).

With CQG you'd have concurrent access to all markets excluding LIFFE. I recommend using a demo of any platform of interest to see which suits you best.

I agree with you on the Micros...
 
Quote from SNBthetrue:

ahahah ! bad time ahead ? So they drop theirs rates ? In hope to get new customers ? why ?? because they lost all the old ones...
:(
why ??


because they were unable to get reliable data ? unable to handle volume spike ? Impossible to be operational around huge numbers... expensive... No customer service during O/N, unable to solve this... and now... they try this ?

I am doing a favor to Et by saying this : they are unable to get a data feed, and an order server running !

so my last opinion : don't try them, even if they offer you a 0.XX rates... they are bad brokers... don't you see that the others don't need to do this kind of lame advertisments... all you will read about them is fake! becarefull... they don't know how to trade so they want your money...

I will open a bottle of champagne when they will go bankrupt !

So I shut my mouth...

Hasta la vista by Señor Zorro ! :D
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Sorry you feel this way. I'm simply posting new rates. They've been the same since 2002.
 
Quote from Dale Box:

Swan Noir,

The licensing is still the same. With X_TRADER you have access to all offered exchanges. You just do not have concurrent access (without a 2, 3, exchange sub or Pro).

With CQG you'd have concurrent access to all markets excluding LIFFE. I recommend using a demo of any platform of interest to see which suits you best.

I agree with you on the Micros...
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with X-trader (free, subscription), do you charge for market data (like Tradestation does) or include it free (like OpenECry)?? For example, CBOT, CME, KCBT, ICE, MGE, NYMEX, etc.? At Tradestation, you cannot even trade without paying the data fees. With OEC, it is all included...
 
Quote from TraderZones:

with X-trader (free, subscription), do you charge for market data (like Tradestation does) or include it free (like OpenECry)?? For example, CBOT, CME, KCBT, ICE, MGE, NYMEX, etc.? At Tradestation, you cannot even trade without paying the data fees. With OEC, it is all included...
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We do not charge for market data. Keep in mind with X_TRADER you'd be able to view data from one exchange per login (with the free or 1 exchange sub).

Best regards,
 
Quote from Dale Box:

We do not charge for market data. Keep in mind with X_TRADER you'd be able to view data from one exchange per login (with the free or 1 exchange sub).

Best regards,
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So you need to log out every time you want to look at a diff exchange?
 
Quote from TraderZones:

So you need to log out every time you want to look at a diff exchange?
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Correct. You can view the data from other markets by logging into the TTSIM also.
 
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