Global Futures - Business Booming?

Discussion in 'Retail Brokers' started by justrading, Apr 25, 2011.

  1. After significant research into Futures Brokers, I whittled the list down from 31 to 3 - Global Futures, Open E Cry and Velocity Futures.

    Velocity post complete commissions on their website, Open E Cry provide a quote immediately upon request (but it excludes all Exchange and Regulatory fees, and when I take the highest Exchange fees for Non-Members, they are more expensive than Velocity), whilst Global has a 'Request a Quote' feature.

    On 18th April I requested a quote from Global Futures, specifying that I would like Ninja Trader and Trade Navigator as options for the trading platform. I received an immediate acknowledgement stating that a salesperson would be in touch in 1 or 2 days. On the 19th, I received a demo setup email from Ninja Trader, for the CQG package via AMP Clearing. Well, I have a new toy to play with, but today is the 25th and I have yet to hear from a Global Futures salesperson. I suppose business is so good that they have no time to look at new retail accounts like mine.

    Ah well, I was quite keen on Global because of the many nice things said on ET about them, but I suppose I am a little late joining the party.

    Can someone give me a current insight into Velocity Futures? The most recent comments I see on ET date back to late last year. I have seen some comments (from last year on another forum) about concerns relating to the TT feed for Ninja Trader. Is this an issue currently?

    NT state that carrying positions overnight is not supported with the TT feed. This does strike me as being a rather severe handicap, added to which there is no index data available.

    Also, there is very little about Vision Financial Markets and nothing on Optimus Trading Group. Has anybody here had experience with either? Both have the NT platform, which I have come to like.

    I would be grateful for any insights that more experienced folks could share with me.
  2. txtrader1


    Samething happened to me with Global Futures. Figured if the sales dept doesnt care then the customer service would probably be horrendous. I have two brokers, Velocity and Mirus and have never had an issue with either. Slight edge with Velocity b/c of the free xtrader with one exchange and its easier tio get money out through wires and checks. Cant go wrong with either though.
  3. Open the account directly with AMP
  4. OEC is a great broker - live accounts get trading platform with charts and data. You'll have more data than you know what to do with.

    When factoring costs, make sure you account for all your costs - will you have to purchase data if using another broker? Are there platform fees?

    As for OEC's quote, tell them you want an all inclusive quote directly. Do not make assumptions on what you may or may not be paying (at any broker). Tell your rep to give you total costs, incl any and all fees from OEC and the exchange.
  5. emg


    brownfans utmost famous quote.
  6. Don't worry emg, I saw you pimping your broker as well - who has a horrendous website btw. Very unprofessional looking to say the least.

    Why refer people to your broker if they will just fail? Since you are going to fail, no point of referring people to a 2nd rate website for service - at least refer them to a complete, professional site like OEC.

    You can now return to telling everyone how hard trading is - misery sure does love company, doesn't it?
  7. emg


    i got this broker recommendation from you.
  8. Dale Box

    Dale Box Velocity Futures

    Hi Justrading,

    Ninja users that carry positions can see them correctly on their platform. We also offer position verification via our customer portal.

    Best regards,

  9. This from the Ninja Trader website -

    13. Warning: Carrying positions overnight is not supported. NinjaTrader does not support the reporting of overnight positions when trading through Trading Technologies (TT). The TT server environment is highly flexible which result in non-uniform position reporting through the TT API from one broker to the next. We advise you NOT to carry positions overnight (between sessions) since NinjaTrader cannot accurately report your position which can adversely affect your account.
  10. Dale Box

    Dale Box Velocity Futures

    Understood but we have the correct hardware and settings in place. I have tested overnight positions with Ninja extensively. Feel free to give me a call if you'd like a detailed explanation.

    Best regards,
    #10     Apr 27, 2011