Big Mike's Trading Forum
 

Go Back   Big Mike's Trading Forum

> Trading Forums > Traders Hideout > Brokers and Data Feeds


Notices
     

Experience with Velocity Futures?
Started:July 14th, 2010 (10:44 PM) by Gary Views / Replies:58,510 / 303
Last Reply:October 26th, 2013 (05:57 PM) Attachments:8

Welcome to Big Mike's Trading Forum.

Welcome, Guest!

This forum was established to help traders by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

BMT is fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike
     

Reply
 8  
 
Thread Tools Search this Thread

Experience with Velocity Futures?

Old October 13th, 2011, 05:35 PM   #141 (permalink)
 Vendor: www.velocityfutures.com 
Houston Texas USA
 
Trading Experience: Advanced
Platform: X_TRADER
 
Posts: 63 since Sep 2010
Thanks: 30 given, 42 received


Frank Ricard View Post
Not sure they best way to handle this post, new to the site. I am quoting a post from the deepdiscount thread by @Dale Box, but regarding Velocity Futures (who it appears he represents).




So the prices listed on your website are 50 cents less than presented with CQGTrader after 740 r/ts?

If due a rebate, one will be given.

If you have any questions about our services at Velocity Futures please send me a private message.
Reply With Quote
     

Old October 13th, 2011, 05:38 PM   #142 (permalink)
Membership Permanently Revoked
 
Trading Experience: Intermediate
 
Posts: 1,176 since Nov 2009
Thanks: 221 given, 815 received


Dale Box View Post
???

we have asked a few times already, but here it goes again.. and thanks for responding in advance.

from CQG the fee they charge to FCM's for CQG Trader is $25 per month, plus transaction fees(0.50c RT) until it hits $395, and then the platform fees stop.

assuming a customer trades 2000 contracts per month, and that his/her all in cost RT is $4.02 as per your website for CQG Trader..

simple question...

once the customer hits 740 contracts, does your $4.02 cost drops by 0.50c to $3.52 RT per contract, or does it remain at $4.02 per contract?

that is the essence of the debate.. ther other times I have asked, or others have asked via.. it hasnt been answered.


Last edited by sysot1t; October 13th, 2011 at 06:29 PM.
Reply With Quote
     

Old October 13th, 2011, 05:44 PM   #143 (permalink)
Membership Permanently Revoked
 
Trading Experience: Intermediate
 
Posts: 1,176 since Nov 2009
Thanks: 221 given, 815 received

non self-clearing FCM?


question to @Dale Box... or any of the velocity guys that frequent here...

I was having an argument with a buddy of mine a little while ago when we were discussing accounts setups and why split across multiple FCM's... we were comparing FCM stability and all that... I shared that my backup account was with Velocity and he laughed and asked what I was doing with a non self-clearing broker.. I argued WTF he was talking about and he just said research it, which I did..

I came to find out that Velocity is not a clearing Firm with the CME, and I could not find evidence to being one with ICE (but then again I havent researched it in dept as it has only been 20 minutes)... which then brought me to researching who you cleared through if you were only NFA registered, and I came to find out it was Clear Chicago Group from what it appeared, which is the same as you given it was started by the same guy.. but I still could not find you as a clearing firm with FCM under that name @ the CME, even though you have their logo on the CCG site..

so my question is... who do you clear through? given that if you are not self clearing, that implies that you clear via someone else... curious to know.. I figure I save some time researching and just ask.

http://www.cmegroup.com/tools-information/clearing-firms.html
https://www.theice.com/clear_us_members.jhtml
https://www.theice.com/publicdocs/clear_europe/ICE_Clear_Europe_Clearing_Member_List.pdf


Last edited by sysot1t; October 13th, 2011 at 06:03 PM.
Reply With Quote
     

Old October 13th, 2011, 05:45 PM   #144 (permalink)
Trading for Fun
Wash DC
 
Trading Experience: Intermediate
Platform: multiple
Favorite Instrument: varies
 
Posts: 66 since Sep 2011
Thanks: 8 given, 23 received


Dale Box View Post
If due a rebate, one will be given.

As I saw sysot1t mention in another thread, you account management is much better than deep discount trading. I may not mind paying 10-20 cents a r/t for that... but 60-70 cents is another matter.


Can you confirm what he asked above, in simple terms; i.e a "yes" or "no".


Thank you.

Reply With Quote
     

Old October 13th, 2011, 07:58 PM   #145 (permalink)
Market Wizard
Honolulu, Hawaii
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Instrument: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,748 received


sysot1t View Post
question to @Dale Box... or any of the velocity guys that frequent here...

I was having an argument with a buddy of mine a little while ago when we were discussing accounts setups and why split across multiple FCM's... we were comparing FCM stability and all that... I shared that my backup account was with Velocity and he laughed and asked what I was doing with a non self-clearing broker.. I argued WTF he was talking about and he just said research it, which I did..

I came to find out that Velocity is not a clearing Firm with the CME, and I could not find evidence to being one with ICE (but then again I havent researched it in dept as it has only been 20 minutes)... which then brought me to researching who you cleared through if you were only NFA registered, and I came to find out it was Clear Chicago Group from what it appeared, which is the same as you given it was started by the same guy.. but I still could not find you as a clearing firm with FCM under that name @ the CME, even though you have their logo on the CCG site..

so my question is... who do you clear through? given that if you are not self clearing, that implies that you clear via someone else... curious to know.. I figure I save some time researching and just ask.

http://www.cmegroup.com/tools-information/clearing-firms.html
https://www.theice.com/clear_us_members.jhtml
https://www.theice.com/publicdocs/clear_europe/ICE_Clear_Europe_Clearing_Member_List.pdf

I am curious why it matters who they clear through? If an FCM has a 'clearing' issue then it is between those they have the agreement with. Themselves and would do little with us. Any issues through the FCM and the Clearing House would be still brought up through the FCM and be documented as such.

I am curious why it matters, not as a challenge, but as my understanding as it seems it "SHOULD" not matter from what I have been exposed to.

Reply With Quote
     
The following user says Thank You to bluemele for this post:
     

Old October 13th, 2011, 10:17 PM   #146 (permalink)
Membership Permanently Revoked
 
Trading Experience: Intermediate
 
Posts: 1,176 since Nov 2009
Thanks: 221 given, 815 received


bluemele View Post
I am curious why it matters who they clear through? If an FCM has a 'clearing' issue then it is between those they have the agreement with. Themselves and would do little with us. Any issues through the FCM and the Clearing House would be still brought up through the FCM and be documented as such.

I am curious why it matters, not as a challenge, but as my understanding as it seems it "SHOULD" not matter from what I have been exposed to.

actually, it does matter...

think of a non-clearing FCM as a middle man, no different than another introducing broker, but with slightly different regulation and requirements (well, not so slightly, but you get the point)..

you dont clarify what you mean by "issues", but to me the only (and main issue) is what happens in the case of the failure of the FCM.. which is why those with large accounts (in the millions) would normally split across two FCM's... in the event the FCM doesnt have enough resources to handle the bk of the clearing that held customer funds..

as such, I rather know who the other clearing FCM is and then make my decision based on complete information as to the financial stability of the FCM that I am doing business with...

I had to look through my links when I was educating myself a while back about FCMs, their function, operations, etc. to find this CFTC letter... but it explains it best..

99-68

anyhow, as I said... i am merely curious... if my account was bigger, I would have just gone ahead and moved it to another clearing fcm and not bother asking the question... my main account today is with crossland and as such there is no additional middle man as they are a clearing fcm with full cme membership... once my account approaches the size I care to have in it, i will just split it across crossland and mbfcc and close my velocity backup.. but I am quite far from that event.. so in the mean time, I am ok with things...

let's see if they answer in any event.. somehow i have a feeling that they wont.. but I would like to be wrong.


Last edited by sysot1t; October 13th, 2011 at 10:26 PM.
Reply With Quote
     

Old October 13th, 2011, 10:48 PM   #147 (permalink)
Market Wizard
Honolulu, Hawaii
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Instrument: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,748 received

I see, considering a bankruptcy of the FCM then your assets would be at stake. Interesting.

Reply With Quote
     

Old October 13th, 2011, 10:50 PM   #148 (permalink)
Membership Permanently Revoked
 
Trading Experience: Intermediate
 
Posts: 1,176 since Nov 2009
Thanks: 221 given, 815 received


bluemele View Post
I see, considering a bankruptcy of the FCM then your assets would be at stake. Interesting.

keep in mind that it can be "unlikely" due to the whole segreation, but then again.. one never knows.. risk is risk.. no matter what anyone says... funds are not insured.. merely separate from the operations accounts, but they are still comingled with customer classes...

Reply With Quote
     

Old October 14th, 2011, 12:01 AM   #149 (permalink)
Market Wizard
Honolulu, Hawaii
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Instrument: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,748 received


sysot1t View Post
keep in mind that it can be "unlikely" due to the whole segreation, but then again.. one never knows.. risk is risk.. no matter what anyone says... funds are not insured.. merely separate from the operations accounts, but they are still comingled with customer classes...

Couldn't you buy insurance against the company failing? CDS?

Reply With Quote
     

Old October 14th, 2011, 12:06 AM   #150 (permalink)
Membership Permanently Revoked
 
Trading Experience: Intermediate
 
Posts: 1,176 since Nov 2009
Thanks: 221 given, 815 received



bluemele View Post
Couldn't you buy insurance against the company failing? CDS?

LOL... you crack me up.. yes, it is called... you split your account across two FCM's that are unrelated..

Reply With Quote
     
The following user says Thank You to sysot1t for this post:
     

Reply



Tags
account, account size, accounts, accurate, ai, alternative, amp, amp global, analysis, api, atm, atm strategy, ats, backfill, backtesting, bankruptcy, bars, basic, beat, beta, bid, bid and ask, big mike, book, broker, brokers, cable, calendar, calls, canada, cd, cds, ces, challenge, change, charges, chart, chart trader, charting, charts, choice, cl, clearing house, close, cme, code, colocation, color, combination, commission, commodity, comparison, connection, contracts, costs, cqg, create, credit, crowd, cts, cts t4, cumulative delta, currency futures, custom, daily, data, data feed, data source, datafeed, day, debt, delta, demo, dept, desktop, discipline, disconnect, discretionary, dma, dom, dorman, dow, dsl, edge, elite, emotions, enter, entry, error, errors, es, european, event, exchange, exchanges, execution, exit, fcm, fed, feed, feeds, file, fill, filled, fills, fix, flag, flow, forex, forex brokers, free, freezing, function, functions, funds, future, futures, fx, ga, global, global futures, goals, greater than, group, hedge, high, historical, historical data, hold, ib, ib api, indicators, interactivebrokers, interest, iqfeed, java, jpy, kinetick, lagging, language, learn, level, level 2, leverage, life, list, live, live trading, load, lot, love, low, management, margin, market, market delta, market replay, matrix, mbt, mc, md, mind, mirus, mirus_futures, ml, mode, moves, multichart, multicharts, multiple, news, nfa, ninja, ninja 7, ninja trader, ninja trader 7, ninjatrader, no bs, note, notify, nt, nymex, open, optimus, option, order, order entry, orders, package, paid, parameters, performance, phone, plan, platform, platforms, poker, positions, practice, price, profile, profit, programming, proprietary, puts, question, questions, range, real time, reliability, reliable, reload, replay, research, review, rithmic, save, sc, session, settings, setup, sharpe, sierra charts, signals, sim, sim_trading, small, software, sound, speed, split, spreads, start, statistical, stop, strategy, stress, string, studies, support, survey, system, systems, targets, technical, technical problems, terms, testing, texas, thank you, tick, tick data, ticks, time, tos, trade, trader, traders, trades, trading, trading systems, trading technologies, tradingtechnologies, type, uk, update, us markets, values, velocity futures, vendor, vision, volume, xtrader, x_trader, youtube, zenfire
     

Big Mike's Trading Forum > Trading Forums > Traders Hideout > Brokers and Data Feeds > Experience with Velocity Futures?

Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Optimus or Velocity rani Brokers and Data Feeds 74 November 18th, 2013 05:22 PM
Webinar: Sierra Chart w/Velocity Futures Big Mike Sierra Chart 21 December 29th, 2012 11:15 AM
Any one have experience or info on Transact Futures? Yasha Brokers and Data Feeds 10 May 16th, 2012 12:34 AM
Any experience with Mirus Futures petemm Brokers and Data Feeds 36 January 5th, 2012 03:03 AM
Multicharts compatible with Velocity Futures? josh MultiCharts 30 September 12th, 2011 06:31 PM


All times are GMT -4. The time now is 12:55 PM.

Powered by vBulletin®
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
SEO by vBSEO ©2011, Crawlability, Inc.
Copyright © 2014 by Big Mike Trading. All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
 
no new posts

Page generated 2014-04-23 in 0.17 seconds with 40 queries on atlantis via your IP 54.226.120.183