Velocity4x

Does anybody have experience with Velocity4x ?


Member NFA (NFA ID: 0358241)

 

new kid on a block

 

They are an IB for FXLQ from what I have heard.

 

If a broker like this one is is registered with the CFTC and is a Member of the NFA, does it really mean that it is a honest broker?

 

I have don't know any specifics, though I have heard that fxlq is a shady bucket shop FCM.

 

It doesn't protect you any more and it wouldn't stop any MM from hunting stops or doing the things that most MM's do. Also it doesn't provide any extra protection for you in this unregulated market if that's what you mean. That being said if I had only a small amount of money to use I would rater put it with someone that took the time to meet the compliance requirements of the CFTC and NFA.

If you have enough money there are much better options but if not then they could be an option. If you are going to trade with Velocity4x you might as well go to the sourse they use and trade direct with them... FXLQ.

 

Last I heard, FXLQ doesn't take self directed accounts though that might have changed.

 

They do. I know several people that use them, but as you said they play the normal games (same as Velocity) from what I've heard.

 

If a broker like this one is is registered with the CFTC and is a Member of the NFA, does it really mean that it is a honest broker?

 

No.