| SCAM!! Velocity 4x is what is referred to as a 'bucket shop'. They are only in business to screw you over. They trade against you and they do their best to make you lose money. The data feed slows down considerably when in trade making it more difficult to pick up pips on short trades and you get constant requotes when entering or exiting the market. They also go after your stop loss. STAY AWAY FROM THIS COMPANY!!! There are far better companies out there. |
Thursday, June 12, 2008
VELOCITY4X SCAM CASE
VELOCITY4X SCAM CASE
Where to begin. All starts well at Velocity4x- until you start to become a consistant trader. When you repeatedly win- the games begin.
1. Platform lag
2. Bad price feeds
3. Missing data bars (lower timeframes)
4. Server "outages"
5. Trade Context is busy messages when trying to manually get out of positions (hint- change your server from the one you placed your order on- and viola, no more trade context busy error-whoa!)
6. STEALING YOUR SWAP! Go long on a GBP/USD contract- leave it open until EOD- watch your "swap" column be a NEGATIVE number (they should be paying you at EOD on a GBP/USD Long)
7. Massive spread movement on a regular basis.
I even had a 30 pip winner suddenly vanish off my trading platform.
They then implemented their 5 decimal place currency numbers- they tell you it is for more precise entries and exits- Come on- what bank sells a GBP for 1.97982 instead of 1.9798?
Complete and total waste of time and hard earned money if you even attempt to trade with them!
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