Fee Schedule
Velocity charges the follow fees to account holders for various services.
This Fee Schedule is subject to change at any time. Please refer to the Individual Account Agreement and/or Corporate/LLC Account Agreement.
| Service | Fee | Description |
|---|---|---|
| Outgoing Wires |
USD - $30 EUR - €30 GBP - ₤30 |
Outgoing wires from your account (all currencies) |
| Outgoing Check Delivery Fee |
Standard Delivery (2 weeks) - Free Overnight Delivery (USA) - $25 Overnight Delivery (International) - $40 |
Checks are delivered through standard mail. Please allow 2 weeks delivery time. Overnight checks should be received within 2 business days. |
| Broker Liquidation | $1.00 per contract | When your account is under-margined and requires a broker to liquidate or trim your position |
| Broker Assisted Trading | $3.00 per contract | When you call us and place trades through a voice broker |
| Broker Exclusive Trading | $10.00 per contract | When you exclusively use a voice broker for all of your trading activity |
| Currency Conversion* | $20.00 per conversion | When accounting must convert funds to meet a margin call or you request for a conversion. |
* - Some Currency Transactions to meet margin calls or exchange rate transactions made at the customer's request will be charged a fee as stated below:
When moving money between reg coded accounts such as your US trading account (Reg code 01) and your foreign reg coded accounts such as (02 or 03 for US or foreign customers respectively) there will be a charge only for moves that involve different currencies. This means that when moving funds of the same currency there will be no charge. These funds may need to be moved in order to meet margin calls within your account that occur in one reg code. Even though the total balance of your separately coded accounts is large enough to not receive a call, United States regulation requires that we actually move the money between reg codes to meet the call. When these funds are moved inside of your account between reg codes we may have to convert currencies in order to do so and there will be a charge associated for that service.
For those traders only trading US exchanges and transacting only in domestic (US) currency there will never be a charge for this service. The same applies to Traders always trading a foreign exchange and having all funds traded within that reg code. Therefore, charges apply to accounts which have funding spread across multiple reg codes and which trade multiple exchanges, whether foreign or domestic.
