Velocity Futures, LLC

Quote from Brighton:

True, I was aware of the Deep Discount Trading price, but DDT seems clear that they're only looking for experienced self-directed traders and the platform fees can run a few hundred bucks a month or more.

Generic/Ironbeam, if their platform is any good, might be a better deal because it's only $59/mo. All depends on frequency of trading, of course.

Anyway, glad to see the low prices, just wish these newer guys would tell people a little bit more about themselves. They're not establishing a social network to post pictures of what you had for lunch...
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DDT/CRS platform choices are the same as any other FCM... and they range from free to thousands depending on your requirements...

I will make it simple... you can use NT7 and pay the TT fees, just like you can use MC8 with TT feed, etc...

as to "experienced self-directed traders"... all FCM's want that.. is not like they will teach you to trade or hold your hand... actually the only Broker I know that will help you learn how to trade is Stage 5 Trading Corp which introduces for OEC... that's FT71's brokerage...
 
Quote from ofthomas:

there is none... I had posted a comparison and the mods removed it... that should tell you something... velocity is basically the bottom of the barrel when it comes to balance sheet.
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And somebody else was right next to them on the comparison. And that is why the post was taken down IMHO. And they will probably take down this post too just because I mentioned it.
 
good up the good work ofthomas (i'm being serious). to the mods, pls don't remove undisputed and independently verifiable facts that can help traders make their own objective decisions.

it'd be one thing if he said "don't go w/ firm XYZ b/c they were responsible for the kennedy assassination" but he's not.
 
Anyone have any experience with NewEdge that they could share? My activity has reached ~500 RTs per day and it seems a good point at which to evaluate my FCM options.
 
I have traded with Velocity for 3 years. I am a short-term active trader:
-- user the basic CQG Trader;
-- 500-1000 lots (1-side) daily,
-- mostly E-mini; some NQ, GC, Eur;
-- gostly orders 1-5 lots; some 10 lots;
-- mostly carry 50-100 lots during day; 50+ overnight.

Although I've always been concerned with Velocity's low capitalization, their computerized management system seems very efficient, as I experienced when starting with low balance, & not only prevented from increasing position size, but I think was automatically partially liquidated.

But over the years, I rarely let my balance remain > $200,000.

The advantage to Velocity, I have found:
--super low commissions (slightly beats Interactive Brokers, due to my volume;)
--good maintenance margin overnight;
--super low day trade margins ($500 for e-mini;)
--excellent access/support, for few times there were issues.

Ironically, I had minor difficulty withdrawing funds last week, which apparently was about the time of Velocity CFTC problems, but I have no reason to think it was not just usual issues (I was withdrawing more than was free, per prior day's excess.)

I still have $100k+ balance, & even yesterday (Aug 30) I traded 800 contracts (1-side) but am considering moving more of my trading to another firm, such as IB, whom I think is about the best capitalized, best technology firm -- although I'm now looking for 3rd party entry platform to work with IB.

I avoid registering with forums, etc., but did so to at least provide some positives in my dealings with Velocity.
 
I personally dont disagree with any of your points... specially given I used CQGTrader as well when I was with them, later on moving to CQGIC... their tech is excellent... and like with IB, I barely ever used their support and when I did issue were addressed right away...

btw, if you do have 100K balance... not sure why you care about $500 mini's margin, you dont have access to it... Intraday margins are up to twice the amounts shown for account balances exceeding $100K, as per VFT... also, 50+ overnight are $192K+... so how did you dealt with that size regularly without having 200K+ when you state that you rarely remained above it?

VFT comms are not the lowest, they are ok... you are guaranteed to have negotiated your comms with your volumes.. but that can be done with anyone... you should look at leasing a seat with your volume and cut what actually makes up the bulk of the cost, clearing fees...

if you talk to the PTG side of IB, you can have a multibroker platform with IB as long as that execution provider can "connect" with IB...

lastly... are you Max or Dow? :)

Quote from FLfutures:

I have traded with Velocity for 3 years. I am a short-term active trader:
-- user the basic CQG Trader;
-- 500-1000 lots (1-side) daily,
-- mostly E-mini; some NQ, GC, Eur;
-- gostly orders 1-5 lots; some 10 lots;
-- mostly carry 50-100 lots during day; 50+ overnight.

Although I've always been concerned with Velocity's low capitalization, their computerized management system seems very efficient, as I experienced when starting with low balance, & not only prevented from increasing position size, but I think was automatically partially liquidated.

But over the years, I rarely let my balance remain > $200,000.

The advantage to Velocity, I have found:
--super low commissions (slightly beats Interactive Brokers, due to my volume;)
--good maintenance margin overnight;
--super low day trade margins ($500 for e-mini;)
--excellent access/support, for few times there were issues.

Ironically, I had minor difficulty withdrawing funds last week, which apparently was about the time of Velocity CFTC problems, but I have no reason to think it was not just usual issues (I was withdrawing more than was free, per prior day's excess.)

I still have $100k+ balance, & even yesterday (Aug 30) I traded 800 contracts (1-side) but am considering moving more of my trading to another firm, such as IB, whom I think is about the best capitalized, best technology firm -- although I'm now looking for 3rd party entry platform to work with IB.

I avoid registering with forums, etc., but did so to at least provide some positives in my dealings with Velocity.
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"if you talk to the PTG side of IB, you can have a multibroker platform with IB as long as that execution provider can "connect" with IB... "

what plaforms can you get from ib?
 
Quote from just21:

"if you talk to the PTG side of IB, you can have a multibroker platform with IB as long as that execution provider can "connect" with IB... "

what plaforms can you get from ib?
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if you are a PTG, and your platform supports multi-broker, call the regular number and ask for a rep within PTG and have a conversation...
 
1. I have a flat negotiated rate with Velocity, which at up to, say 10,000 lots per month, is slightly better than IB. Nor does Velocity charge me anything for the CQG Trader platform.

2. I don't know if I'm revealing any secret here, but I doubt it, because I've had other non-member firms that offer the same margin deal. Overnight margins for e-mini is in effect as of the 5:15 (still Eastern time, which is 1-hour after the usual 4:15 close.)

However, beginning at the 6 pm open, which technically is the start of a new day, the margin for e-mini goes down to the day-trade rate. So $100,000 in theory, could carry 200 lots after 6 pm. But only until the 5:15 pm close the following day. Of course few are that stupid to carry that position, yet there are times, when I do go down to say $1,000 per lot after 6 pm.

As a personal trading, money management tool, I find I am better off keeping $100-$150,00 in the account, carry fewer lots at 5:15, but put on as many as I like after 6 pm, and/or during normal day-trade hours, rather than keeping a much higher account balance.

Given above leverage, my account typically fluctuates 10-20% daily, or at least $10 - $30,000. I found I'm more careful losing even $30,000 in a day, with a $150,000 account, then with say a $500,000 account, because the $30,000 still leaves a high $480k balance. I become much more careful when I've lost $30k from $150, both by cutting back on volume, and/or waiting until my trading is more "in tune" with the markets.


3. Re IB platform
IB's TWS has a basic BookTrader, or DOM, which I do not like. But go to IB website, under "Products and Services" and then under "MarketPlace," & you will find large number of 3rd party programs (charting, as well as order management,) that integrates with TWS. But none of those seem to have just what I'd like, so I'm investigating having someone write a program, which will be close to the CQG Trader I've used for 3 years with Velocity.
 
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