Velocity Futures down?
- Thread starter Bernard111
- Start date
Quote from AMT4SWA:
I see more having fun catching up with the recent CME data flow output increase from October.
Yeah...now let's hope VF also fixes the time needed for an order to be processed by CME: currently it's about 250/290 ms. :eek:
..at least according to the TT Audit Trail reports (Accept / OK time differences).
FredBloggs
Guest
oh dear!
remind me never to use velocity! not being able to contact a trade desk is VITAL whether you have a position or not.
clearly velocity are not geared to the serious trader.
your pc/network blows up and.....
what do you do if you need to cancel a working order?
you want to place a trade?
most quality brokers will always let you access a trade desk. some may charge more commission for this - some dont, but it IS vital.
what a shame. velocity were on my shortlist if i ever thought of changing brokers - as im sure i will do one day....
remind me never to use velocity! not being able to contact a trade desk is VITAL whether you have a position or not.
clearly velocity are not geared to the serious trader.
your pc/network blows up and.....
what do you do if you need to cancel a working order?
you want to place a trade?
most quality brokers will always let you access a trade desk. some may charge more commission for this - some dont, but it IS vital.
what a shame. velocity were on my shortlist if i ever thought of changing brokers - as im sure i will do one day....
Sounds like a bucket shop!
How can they seriously say they cater to professionals/volume traders without 24 hr support/IT/execution desk.
How can they seriously say they cater to professionals/volume traders without 24 hr support/IT/execution desk.
Bucket Shop list -
http://www.futuresmag.com/Issues/2009/November-2009/Documents/Top50_Brokers_2009.pdf
If ANY Velocity trader was unable to reach the trade desk with open positions PLEASE contact me for a Level 9 sales deal.
WTF is a level 9 sales deal?
ANYONE who uses Velocity should have access to 24hr desks and support,after all it's their money they're risking,you do get that part?
That's why it's a bucket shop!
FYI 290ms turnaround time is absolutely shit.Forget trying to blame the PC or internet,sounds like a crap network.
I suppose they get it down to 100ms if you're on a level 10 deal,comedians
ANYONE who uses Velocity should have access to 24hr desks and support,after all it's their money they're risking,you do get that part?
That's why it's a bucket shop!
FYI 290ms turnaround time is absolutely shit.Forget trying to blame the PC or internet,sounds like a crap network.
I suppose they get it down to 100ms if you're on a level 10 deal,comedians
Level 9 deal just to access the trading desk?
Here is an excerpt from your FAQ:
"What happens if I lose my internet connection while trading?
Please call our main number immediately if you are in a trade, so that we can execute the trade for you."
source:
Front Page > Support > Frequently Asked Questions
http://www.tradewithvelocity.com/support/faq.aspx
..."if you are in a trade": is a working order a trade?... If no, how could we call the main number so you can execute the trade for me?
This is the mention that you MUST have already a position to access the trade desk? NO EXCEPTIONS ALLOWED!
Therefore 'if you are in a trade' means only if you have to place your stoploss or any other exit trade?...
From FAQ:
"What do I do in the event that I need to get out of a trade in an emergency if my system is down?
You may call the main number and enter trades with us over the phone. "
And what about a spread where you could have been filled in a leg and still have working orders for the other legs?
You lost the connection, have both legs working and you cannot access the desk until one of the legs will be filled?! :eek:
"You may contact Velocity's Trading Desk any time by calling: [....]"
"Fees and Charges for using the Trading Desk
All orders executed by a Broker for your account will be charged $1.00/contract service fee."
http://www.velocityfutures.com/velocity_trading_desk.html
... "any time?" with "$1.00/contract service fee"?
No, they did not mention that's only for stoplosses and 'exit' trades...
FredBloggs
Guest
dale, its very simple. just say 'yes' or 'no' to the following scenario:
a customer has working orders in the market. his pc or internet/network blows up (this is not your responsibility). he/she has no positions in the market currently. he/she needs to cancel those orders because he/she does not want a position if he/she can not manage the position until the pc/network issue is resolved.
CAN YOUR DESK BE CALLED TO CANCEL THOSE ORDERS WITHIN 1 MINUTE?
thanks for any reply.