Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
This is a solution I have considered before. Use Infinity for brokerage and IQ Feed for data. I do like to trade from the charts though. Hmmmm.... I may eventually go with that, however I may test Infinity tomorrow by calling them at 9am UK time to see if they answer.
However I decided to go with Velocity off the back of the webinar you did as then I would not need two separate feeds and could trade from the charts. It's a shame they have let me down because I really liked them to start with, or perhaps all brokers are deficient in some way, just have to choose the least bad among them?
From what I know about order feeds. this is what I think happened.
The Tag=200 means the TT fix gateway wasn't getting the proper MonthYear of the contract for your order. I don't know why, I have never used SC. Since the broker's system did not know what contract expiration month you wanted for your order, it kicked it out without giving you are Service Order ID, since it never placed the order.
Since the order was never placed, and no Service Order ID was issued, you can't cancel it, because it isn't there.
This is of course my opinion from using the TT order feed. YMMV
I really love the TT feed for tick charts by the way.
I believe you can do it using the "Remote Chart" capability, but I never bothered to be honest because I don't care about chart trading, so for me was easiest just to have two separate instances of Sierra.
Just in case other people are considering Velocity I just spoke with them after getting through via the Live Chat. They called me back and I was pretty disappointed.
They told me to use a Sierra Chart Pre-Release version 868, I'm using 867. Yeah right, a pre-release version for live trading? Are you kidding me? So, they didn't even know why my order was not accepted and frankly, they didn't really seem to care either by fobbing me off with a pre-release.
I then asked them why no-one would answer my call in the European morning and they said that I didn't call from a registered number. SO WHAT?! So, I can only get through to the trade desk with a registered phone?! I was speechless. What if my phone doesn't have Caller ID? What if my phone battery is dead and I need to use a different phone? Duh!
They then told me that I could and I would just need to enter my account number when asked on the phone. I did that, but then the phone system hung up on me after 5 minutes of waiting. I told them I was considering moving brokers and they offered me a free wire out. Gee thanks Velocity.
Velocity customer service is only available during the US RTH. During these hours they are prompt.
There is no better data feed that DTN IQFeed. With the exchange fee waiver, it is 85/mo USD.
I use it with Velocity/TT and I trade from the charts using the Remote Data file from the IQfeed instance of Sierra. It works great. The TT feed may be unfiltered but it is wholly inadequate (i.e. inaccurate) for any cumulative delta or bid/ask trading.
Really sorry to take up so much of this thread for my own selfish reasons, but I thought they should be shared. I asked Sierra Chart what the problem was and they told me it was because I had the wrong symbol on my chart. Simple as that, why couldn't Velocity have just told me that instead of telling me to get a pre-release? So, because I had been using the SC Historical Intraday data over the weekend and had not manually changed my charts back to the TT symbol, I could not place the order. Simple.
I will try hard not to spam this thread any longer!
No worries keymoo; the main issue you had was with the support, and I agree that it's a little disconcerting that not one person is available during non-US hours.
Well i opened up my Application on Sunday, the plattform to signup/register is very clear and concise and there is little to no missunderstanding or Problems. I especially enjoy the fact that i was able to do everything online unlike with other brokers where i had to file out annoying paperwork and Fax email it back and forward. This was a pleasant change for me.
Basically by Monday i was able to start doing wiretransfers and sign the remaining documents such as the W8BEN form.
Wiring the Money was a Breeze and it took exactly 25 Hours until my account was funded and i am right now awaiting the confirmation from compliance regarding my trading credit/Risk Privilege to be completed.
And that was pretty much it, there really is nothing left to say, opening an account is easy and its a refreshing change.
2) Customer Support/Service:
This is something i really feel needs to be mentioned: It is spectacular, waiting times for the live chat are next to non existant, no waiting. Support is super fast and answered all my questions in a helpful, clear and concise matter and provided more information than i was asking for or needed but it was nice to have this as a backup reference.
Support is as mentioned very friendly unlike other brokers i had experiences with. E-Mail answer times are under an hour to under 30 minutes and my Phone talks have been very pleasant aswell.
There really is nothing from a service perspective that they could do better and other companies really need to take a look at the way velocity representatives are dealing with customers because this so far has been impeccable to say the very least.
3) Execution and Tech Support:
Well i only had a couple of tech questions, since i am familiar with X_trader as a platform (not an expert though) but most of my questions were answered more than satisfactory.
As for actual trading and execution i will updated this review once my account has been fully approved by the compliance department. They were so kind to provide me with another simulated/demo account for X_trader in the mean time which i will be using to setup my preferences for now, once trading commences i will update this review and also start my EUREX trading Journal/thread.
Conclusion:
Based on what i've seen so far, for anyone who is planning on moving from spot markets to the future markets i definitely recommend velocity futures. These guys are nothing but pure awesome so far, although i have to wait and see how the live execution is and how tech support is going to be once trading goes live. But if its anywhere near the customer support level then i will be a very happy trader at velocity for a long time
According to CFTC monthly financial reports, it seems net capital at Velocity has dropped from 66 mil to 61mil over the last month and from 72 mil since January.
For most other firms that I compared to, net capital has increased.
I dont know if this trend means anything? I hope not.
Maybe I am paranoid but you can't be too careful nowadays.