Forex Broker

Velocity Trade review

Velocity Trade

On-line since: 2007
Country of origin: New Zealand
Regulation: FSP, AFSL, FCA
Payment options: bank transfer, PayPal, credit and debit, checks
Minimum account size: $1000
Minimum lot size: 0.01 lot
Leverage: up to 1:200
Spreads: from 2.2 pips

About company:

Velocity Trade was founded in 2007 as a dealer center. Clients of Velocity Trade are backed by a global team of professionals located in Toronto, Montreal, Sydney, Auckland, London and Cape Town. Through its global network of subsidiaries, Velocity Trade provides corporate and institutional clients with brokerage services on Forex and various exchange markets.In addition, the broker provides consulting and asset management services.

The company and its subsidiaries are regulated by different regulators worldwide, including the Financial Conduct Authority (FCA) in Great Britain, the Investment Industry Regulatory Organization of Canada (IIROC), the Australian Securities and Investment Commission (ASIC), and the Financial Services Board (FSB) in South Africa.

The broker’s main trading conditions:

Trade managers of the company offer stock exchange services on international markets as well as acquiring. Transactions are executed using the technology of direct market access (DMA), which allows investors to work directly with the order book of an exchange.

Velocity Trade’s customers can use a full range of forex products and services competitive for institutions and corporations.

Velocity Trade enables trading precious metals and hedging which are conducted thanks to the support of offices located in the world's key extraction regions. These offices work 24/6.

Velocity Trade has formed a strategic alliance with TMX Insights to provide clients with comprehensive forex market analytics, financial contents, tools, and applications to help traders make the best trading and investment decisions.

Besides, the broker renders various services depending on a specific region such as Canada, Europe/United Kingdom, South Africa, Australia, and New Zealand.

The company is the official partner of Rugby Canada’s National Senior  Men’s Sevens.

Velocity Trade 2/10 (votes 2196)
Author of Velocity Trade: Genatado | Date 2020-06-25
My experience with Velocity Trade is unusual. I do not know what problem was facing on last week, suddenly my platform was get freezed. 20 minutes latler when its unfreezed I found an error in my trading record, my two profitable order one USDJPY and another one EURCHF trades were missing. It has been more than 6 days I reported to them but they did not give me any explanation. Even they did not pick up my phone call. Is there any person who have encountered same problem with this broker?
Author of Velocity Trade: Joram | Date 2020-05-25
I do not suggest you trading with this broker. I personally had problems with some pending orders, which were not triggered. Their customer support told me to wait till this week. But when I checked my account today, I haven't got the money yet. My request is $565. Their execution is very slow; and spreads is too high
Author of Velocity Trade: Meta | Date 2020-02-17
I am planning to withdraw all my deposits because they reduced my earnings without my knowledge. They couldn't even justify their actions. Very high spreads and also the requirement for minimum account size is impossible, if you just want to test the service, because we all know, that demo testing is not in fact testing. I made the deposit because I’ve heard good things about this broker, but most of my friends, which I could refer, would not deposit that kind of money. I have opened an account with deposit $1000 and when I have gained some profit for several months from trading and requested for withdrawal of $800 they suspended my account saying that my paypal account is under investigation.
Author of Velocity Trade: Reshina | Date 2019-11-13
I opened live account with Velocity Trade 5 months ago with $2000 I earned profit $800 during these 3 months. On 2nd Juli 2019 I put in my request to withdraw $1000 using wire transfer, but they I cancelled my withdraw request. When I contact with their support they told me to split my withdrawal amount. On 7 October I put a withdraw request of $900 until today the withdrawal is still at pending stage. I have contacted their support, and they ask me to wait, no timing given as to wait until. I am still trying to be patient and waiting for their help. I will update the result later till its resolve.
Author of Velocity Trade: Addeen | Date 2019-05-12
I have the worst trade experience on the online Velocity Trade platform. While Velocity Trade broker has MT4 platform. But isn't reliable too. Because the price chart is always different from the live market, especially their execution is too slow at the news time. Also, their payment service is painful too. I am unable to withdrawan $145 profit yet. So I say Velocity Trade is the unprofessional broker in the market.
Author of Velocity Trade: Jemor | Date 2018-11-22
I have been trading at Velocity Trade for almost half a year already and I am thinking of looking for another broker now. It could have been fine since the platform does not have a lot of issues. In fact, for me the platform is pretty stable on normal market condition. But the problem is that trading at this broker is too expensive. Their spread is higher than its competitors and there are additional fees when withdrawing and depositing fund. Those extra fees when gathered together would sum up to a great value which could have been added to my fund but instead goes to the broker.
Author of Velocity Trade: Georgianapip | Date 2018-04-30
Stay away! I deposited 1000$ with PayPal, all good and nice the first month. After I applied for a withdraw of 150$ profit and took almost 1 week to get the approval, the platform started to crash. I traded for just 2 months after that, time which I lost 500$ from my deposit with Stop Loss changed, manipulation of the prices and delays on the platform. I requested to withdraw the rest of my funds, and they deny my request for 3 times in a row even though I send them all the requested papers. Now I don't have other choice then to keep trading till I will loss all my money. Velocity Trade is a scam!
Author of Velocity Trade: Cynthia | Date 2018-03-14
Velocity trade is a scam, plain and simple. I have close my account with them know cost me to LOOSE $580 in 2 weeks because of bad platform shut down many times when my trade is going in my favour, I will never recommend this broker to any trader!
Author of Velocity Trade: SihleNene | Date 2017-11-09
Recently I am trading with the Velocity Trade by their online Velocity Trade platform. While they had MT4 platform. But I have experienced both platforms isn't reliable. Because their price chart is different from the current market, it is too slow and it could freeze any time, especially in the news time. On September I had deposited $1000 in a Standard account's and make $320 profit. But I am unable to withdrawal $100 via debit card due to some condition.So I called their support for help me to get my money as early as possible. But they said it is still processing and the money will be transfer to my bank account within 4 working days. I think Velocity Trade service is unprofessional, So now I decided to move another broker.
Author of Velocity Trade: Winneifx | Date 2017-09-16
I was a client of Velocity for 4-5 months, and now I closed my account because their platform MT4 have delays or crashes during volatility times. I deposited 1000$ when I opened my account and the money were credited in 2 working days even though i deposited with PayPal, they needed to verify my account. I traded with them Equities and Commodities such as Gold/Silver. I lost the first couple of months 600$, the next month I gain back some money 150$, but the platform still wasn't working with real prices, and the spread were changing during news release in the morning. I called their support team but they weren't able to help. I requested to withdraw my money 450$ I had left and I waited 2 weeks to have my money. I closed my account, the brokers is not reliable.
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