Velocity thread deleted. WHY ?????
- Thread starter RedDuke
- Start date
New CFTC Financial Data released for January 2008...
http://www.cftc.gov/stellent/groups/public/@financialdataforfcms/documents/file/fcmdata0108.pdf
VELOCITY FUTURES LP N NFA 12/31/2007 Net Cap: 2,168,237 Req: 500,000 Excess: 1,668,237 Cust Seg: 23,744,570
VELOCITY FUTURES LP N NFA 01/31/2008 Net Cap: 1,284,656 Req: 500,000 Excess: 784,656 Cust Seg: 30,618,206
Net Capital is down -883,581 to 1,248,656
Customer Seg is up +6,873,636 to 30,618,206
http://www.cftc.gov/stellent/groups/public/@financialdataforfcms/documents/file/fcmdata0108.pdf
VELOCITY FUTURES LP N NFA 12/31/2007 Net Cap: 2,168,237 Req: 500,000 Excess: 1,668,237 Cust Seg: 23,744,570
VELOCITY FUTURES LP N NFA 01/31/2008 Net Cap: 1,284,656 Req: 500,000 Excess: 784,656 Cust Seg: 30,618,206
Net Capital is down -883,581 to 1,248,656
Customer Seg is up +6,873,636 to 30,618,206
My understanding is that they had client funds with Sentinel Management Group when Sentinal went under last year. Velocity seems to have pulled through that mess intact. You can google to find out what happened with Sentinal or there was a good article in SFO magazine that you can buy if interested. In my opinion they shouldn't have placed client funds there to begin with. That's why you see people here hoping they've "learned their lesson" etc. As a client, I think their service has been very good but I do keep a close watch on the latest CFTC reports.
I'm surprised that you're surprised that Baron decided to delete that thread. This is far from being the first time that Elite has deleted content at the request of an advertiser. I'm not sure if I agree with the idea that it's 'immoral'. This is a business. If you think deleting this thread is immoral, then you must think all of capitalism is immoral. I understand your frustration but I don't think you're viewing this with complete objectivity.
As for your comment about Canadian brokers, I find this bizarre. What on earth makes you think that IB in Canada is any different than IB in the U.S.?
I don't know why more people here don't look at vCap for their broker. Even tho they are only an IB to FCStone and MF Global (and yes Velocity) you can get pretty much the same deal you are getting from Velocity with the comfort of knowing that as far as capitalization goes, Stone and MF have far more resources at their disposal than Velocity. Just compare the numbers. It seems like Velocity's margins are getting thinner and thinner. That's really not a good sign.