VelocityFutures/Proactive Futures

Discussion in 'Retail Brokers' started by Bessn Reloaded, Apr 4, 2006.

  1. Hello,
    Any comments on VelocityFutures,Proactive Futures?

    Both offers $500/1 ctr without limits (no problem trading 500 ctr blocks),but Velocity holds your money on their segregated accounts and are a bit confused about forms they need for,also they dont need any ID copy....,they dont use clearing house...a bit scared for me isn't it?

    Btw do you know about any other reliable broker with margin on that level?
  2. Jachyra


    I moved from Velocity to TransAct and I love them. At first I didn't like their software, but after getting used to it, I think its just as reliable as X_TRADER (at least in my experience). Bill Zimmerman is the guy to contact over there.
  3. Jachyra: how long you was by Velocity?You was satisfied?
    What web for Transact pls.
  4. Because they are not IB but registered as Future clearing merchant with CFTC and NFA, so they can clear themselves
  5. Thx for explain,but question is if they are more or less secure than IB with clearing house behind.

  6. IBs with larger clearing house behind like ghco, rosentile...should be safer, but with velocity still your money is insured afaik, but very knowledgeable firm at what they do and offer, not just delivering a service as per past disscutions here

    P.s Don't take what i said, that's just an opinion
  7. They are a clearing house.
  8. OK,so lets say...would you entrust a few millions to Velocity?
  9. If i have few millions today :confused:, I will dump my PC into closest beach

    However, if you decide to trade with few millions, i think you should be living near or at Chicago exchange and have direct link
  10. Jachyra


    I don't know if I would trust millions to any FCM, but I would trust maybe $25k - $50k to almost any FCM and would trust maybe as much as $200k to RCG , Man, or Advantage Futures. Out of all of them, I think I would trust Advantage the most.
    #10     Apr 4, 2006