Frequently Asked Questions

How long does it take to open an account?
With our online application and customer portal, your account can be set up quickly and easily.

What is the minimum initial deposit required to open an account?
The minimum initial deposit to open an account is $5,000.

Can I transfer an existing account to your company?
Yes, you can transfer funds directly from another brokerage firm and, where applicable, positions from another brokerage firm.

Can I get a discount for bringing other traders into your company?
Please contact us to learn about any referral programs we are currently offering.

What are your commission rates?
We post our all-in commissions here on our website.

What kind of intraday margin would I have if I opened an account with Velocity Futures, LLC.?
Depending on your trading style, the intraday margin would be 2 times the overnight buying power to 8 times the overnight buying power. Velocity is very aggressive with buying power for the individual high-volume trader.

What type of account can I open?
Individual, Joint, Corporate, Partnership, or IRA. You may also open a managed account in which someone else trades.

Can I get a free trial?
We offer several free platform simulator options including X_TRADER® Simulator and CQG Trader. To learn more or find out if we offer a demo of a particular platform, please contact us directly.

How do I open an account?
Simply navigate to our Open an Account page and follow the easy steps.

How do I request to receive funds from my account?
Login to your Customer Portal and choose outgoing wire/check request under the Banking menu. Your request will be reviewed and go out within 12 hours.

What is the required margin for the emini products?
The initial margin for the E-mini S&P 500 contract is  $3,850.00  and for the E-mini Nasdaq is  $2,420.00. The maintenance margin is  $3,500.00  and  $2,200.00  respectively.

What happens if I lose my internet connection while trading?
Please call our main number immediately if you are in a trade, so that we can execute the trade for you.

Do you offer Eurex trading?
Yes, we offer Eurex Exchange Trading.

How much does the average trader make?
We do not release that information to the public.

What do I do in the event that I need to get out of a trade in an emergency if my system is down?
You may call the main number and enter trades with us over the phone.

How many contracts can I trade for $10,000?
If you were, for example, trading the S&P 500 E-Mini contract, your initial margin would be $3,850.00. So you would be able to hold two contracts overnight. Intraday margin would be greater depending on your trading style.

Can you recommend a funds manager?
No.

Can you or someone trade for me?
We cannot trade for you, but you can have an account manager or CTA to trade your funds usually with several others also. You will have to find your own funds manager.

How do start trading online if I have never traded online before?
This is one of the biggest mistakes that beginning traders make. Unfortunately, trading futures online is VERY different than trading with a broker. Beginning traders need guidance about expiration dates, volatility, reports, liquidity and several other small factors before they begin trading. We offer several helpful documents on our website under the Education section.

What products do you offer?
Our Products can be viewed here.

Do you charge for your electronic daily statements?
No, they are free, as long as you have a valid e-mail address.

Who do I call if I did not receive my account statement?
You should contact call us or send us an e-mail and we will send another copy of your statement out immediately.

Is there somewhere I can go online to check my up-to-the-minute account balance?
No, but you do receive a daily e-mail statement after each day you trade. Your up-to-the-minute balance can be seen on your fill window of X_TRADER® or can be determined by calling our operations desk.

Do I get a statement every night in email?
Yes, your statement will be emailed to you each evening after your trading day is complete.

Can you send my statement to more than one e-mail account?
Yes, just call and ask or send e-mail to operations@velocityfutures.com with your request.

Can you send my statement to another e-mail account?
Yes, just call and ask or send e-mail to operations@velocityfutures.com with your request.

What are all those numbers at the bottom?
Those numbers reflect your current balance and how much money you have made or lost in the current trading day. It also shows your fees and commissions based on the amount of contracts that you have traded that day.

Why is my statement showing me making/losing money?
If you held any positions overnight, your p/l is calculated on the closing price of the market for the positions that you are holding. If this number is higher/lower than your position, your p/l will reflect that.

Why is my statement showing me long/short?
Normal futures market hours are from 3:30pm CST till 3:15pm CST the next day. If you had any open positions at 3:15pm CST when the market closed, your statement will show that.

Which is a buy and which is a sell on this statement?
All numbers in the left hand column are your buys and all numbers in the right hand column are your sells.

What are your business hours?
Our normal business hours are from 7:00 am to 5:00 pm CST Monday-Friday. Our trading desk is open after hours depending upon market conditions.

Are you an FCM?
Yes, Velocity Futures, LLC. is a futures commission merchant.

Who do you clear through?
Velocity uses other clearing member firms in omnibus for exchanges of which it is not a clearing member. Your account and funds are carried on the books of Velocity and your trades are processed at Velocity.

How long have you been in business?
Velocity was founded in 2002 and launched retail trading in march of 2003.

Is my money insured?
No. There isn’t any insurance in the Futures Industry as there is in the Banking or Securities Industry.

But, Velocity Futures, LLC. is a registered United States Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) and is also a member of the National Futures Association (NFA). Velocity Futures, LLC. is operated by it's general partner Velocity Management I, L.L.C.

Due to the strict daily financial reporting requirements, substantial net capital requirements to hold customer funds on deposit, and the vigorous audits performed by the NFA, your funds on deposit with a United States FCM are well protected.

Do you have a refund or protection policy?
No. Please read the risk statement from the CFTC contained on the website.

How many retail customers do you have?
We do not release that information to the public.