Velocity Trade Review 2024

Quick Links

• Our Review Method

• Velocity Trade Pros and Cons

• Is Velocity Trade Safe or a Scam?

• Velocity Trade Review Summary in 12 Points

• Our Conclusion on Velocity Trade Reliability

• Trading Platforms

• Trading Fees

• Customer Support

• Educational Resources

• Spread

• Leverage

• Deposits and Withdrawals

• Conclusion

Our Review Method ▲

Velocity Trade emerges as a global brokerage firm, offering a broad spectrum of brokerage solutions, market access, and commission management to corporate clients. It extends its trading environment and opportunities through a variety of global entities situated in key jurisdictions worldwide. Velocity Trade is praised for its quality trading conditions and transparency, mainly attributed to its regulation and Direct Market Access (DMA). It boasts a diverse range of exchanges for trading, a plethora of assets for trade, commendable trading technology, and an assortment of platforms to choose from. However, it's not without its drawbacks, including higher than average costs, a lack of educational resources, and a limited range of instruments restricted to CFD and FX. Furthermore, spreads tend to be above the industry norm, and the absence of a demo account is a notable disadvantage.

Velocity Trade Pros and Cons ▲

Pros

• Offers comprehensive brokerage solutions and market access

• Regulated by multiple toptier jurisdictions

• Provides Direct Market Access (DMA) for transparent trading

Cons

• Trading costs and spreads higher than the industry average

• Limited educational resources

• Instruments restricted to CFD and FX

• No demo account available

Is Velocity Trade Safe or a Scam? ▲

Velocity Trade is indeed a safe broker. It holds several top-tier licenses from a range of jurisdictions, ensuring fair trading conditions globally and positioning it as a low-risk broker. These licenses are pivotal in establishing trust and ensuring the broker adheres to the stringent regulations set forth by the Forex industry's governing bodies.

Velocity Trade Review Summary in 12 Points ▲

• Headquarters: UK, Canada, Australia

• Regulation: ASIC, FCA, IIROC, FMA, BaFIN, FSCA

• Instruments: Equity, currency, commodity

• Platforms: MT4, PFSOFT

• EUR/USD Spread: 3 pips

• Minimum deposit: $0

• Demo Account: Available

• Base currencies: USD, EUR, GBP, AUD

• Education: Learning materials, analysis, and tools

• Customer Support: 24/5

Overall, Velocity Trade secures a commendable position with its unimpeachable reputation and client protection measures. Being regulated by multiple jurisdictions, the broker ensures a secure trading environment and quality service. Its overall ranking stands at 7.9 out of 10, following our comprehensive testing and comparison with over 1000 brokers.

Our Conclusion on Velocity Trade Reliability ▲

We have assigned Velocity Trade a Trust Score of 9.0 out of 10, acknowledging its steadfast commitment to stringent compliance with established regulations and licensing requirements worldwide. The firm exemplifies adherence to global industry standards, ensuring a secure and transparent investment environment for all parties involved. This commitment spans across all jurisdictions it operates in, highlighting the broker's dedication to traders' security, the integrity of financial investments, and the provision of reputable, transparent services to all.

Trading Platforms ▲

Velocity Trade selects the industry-leading MetaTrader 4 (MT4) as its execution software, a choice that is hardly surprising given MT4's robust capabilities and comprehensive feature set. In addition to traditional trading opportunities, Velocity Trade also offers a suite of investment services that include Capital Raising, Advisory, and Investment Organization solutions. These services are available for both private and capital markets, spanning a variety of jurisdictions and countries, thus providing clients with additional tools to enhance their trading strategies.

Velocity Trade's platforms receive a rating of 4.0 out of 5, standing out among over 1000 brokers for offering a sophisticated MT4 platform. While the MT4 platform sets an industry standard for its comprehensive range of features and instruments, a notable limitation of Velocity Trade is its lack of alternative trading platforms.

MetaTrader

MT4 distinguishes itself not only through its full range of instruments and industry-leading technology but also through Velocity Trade's execution of trades via LD4 and NY5 engines in an ECN style. This approach provides traders with access to a dark pool and non-bank liquidity, offering unique trading opportunities. Moreover, Velocity Trade facilitates the trading of OTC vanilla options and precious metals, all supported by the global offices of VT. In partnership with TMX insights, Velocity Trade further enhances its offerings by providing FX and Equity data analytics.

Trading Fees ▲

Velocity Trade incorporates its fees primarily through a commission charge. The spreads, which are clearly defined, vary depending on the region in which the trader is operating, as different exchanges may impose slightly varied conditions. Furthermore, Velocity Trade does not levy other non-trading fees, making it an appealing option for clients. With a rating of 4.1 out of 5, Velocity Trade's fees are considered low and competitive when compared against the landscape of over 1000 brokers. Fees vary depending on the entity, but overall, they remain attractive to traders. Below is a comparison table of fees.

Customer Support ▲

Velocity Trade enables traders to contact customer support by navigating to the relevant jurisdiction from the homepage, which then redirects them to a specific jurisdiction’s contact information. Support can be reached through telephone, email, or by completing an online request form. Rated at 3.95 out of 5, Velocity Trade's customer support ensures that traders are directed to the appropriate jurisdiction page, where they can receive professional assistance.

Educational Resources ▲

Velocity Trade does not offer educational resources, such as glossaries, training centers, academies, guidelines, tutorials, or any other forms of education. This absence of educational support can be a significant drawback for beginner traders looking to enhance their trading skills.

Spread ▲

Velocity Trade's spread offerings vary depending on the geographical location of the client, as different exchanges may impose varying conditions. However, for the EUR/USD pair, the average spread is reported to be around 3 pips, which is significantly above the industry norm. Additional commission charges might be incurred due to the DMA (Direct Market Access) execution type, which also varies depending on the Velocity Trade entity you are dealing with.

Furthermore, corporate clients or fund managers have access to a comprehensive range of MAM (Multi-Account Manager) or PAMM (Percentage Allocation Management Module) accounts, offering unique opportunities and impressive performance metrics. Additionally, Velocity Trade provides the option for opening a swap-free account, catering specifically to those who require it for day trading purposes.

Based on our extensive research across 1000 brokers, Velocity Trade's spreads have been rated 3.5 out of 5. The rating reflects the higher-than-average spreads in comparison to the industry average of 1.2 pips for the EUR/USD pair.

Leverage ▲

Leverage is a powerful financial tool that allows traders to amplify their potential returns by borrowing funds from their broker. However, it's crucial to approach leverage with caution due to the increased risk it introduces.

Velocity Trade's leverage options are determined by the jurisdiction of the entity with which you are trading. Different jurisdictions enforce varying restrictions and laws concerning leverage, so it's advisable to consult with customer support for detailed information.

Typically, trading with the UK, European, and Australian entities limits leverage to a maximum of 1:30 due to recent regulatory measures. In contrast, South Africa may offer leverage up to 1:200, while New Zealand residents could access leverage as high as 1:500. Canadian traders, however, are restricted to a maximum leverage of 1:40.

Deposits and Withdrawals ▲

Velocity Trade does not specify distinct conditions for different account types. The offerings vary based on the regulatory restrictions, requirements, and specific conditions of the Velocity Trade entity you choose to trade with. It is advisable to contact customer service for detailed trading conditions pertinent to your locality.

The broker currently does not offer a demo account.

Velocity Trade provides a wide array of instruments, including equity, currency, futures, and commodity trading, facilitating extensive risk management alongside traditional trading opportunities. With access to over 40 global exchanges, including major markets in the US, Australia, Canada, the UK, and South Africa, Velocity Trade supports a broad range of trading preferences. The instrument range has been rated 3.9 out of 5, considering the good variety of trading instruments available, albeit with a focus primarily on CFDs and Forex instruments.

Regarding funding methods, Velocity Trade primarily supports Bank Wire transfers as the payment option. The broker has been given an overall rating of 3.8 out of 5 for its funding methods. Although it does not require a minimum deposit and generally imposes low or no fees, detailed information on funding methods and available base currencies is not provided.

As for withdrawals, Bank Transfer remains the primary method. Velocity Trade does not charge internal withdrawal fees, but it's important to note that your bank may impose its own fees.

Conclusion ▲

In conclusion, our comprehensive review of Velocity Trade reveals a brokerage firm with a solid regulatory foundation across several leading financial hubs worldwide, indicating a robust establishment. Notably, the firm appears to cater predominantly to institutional and corporate clients, offering advanced trading procedures and specially designed products.

For professional traders, corporate clients, and experienced Forex traders, Velocity Trade presents an appealing option. It supports a wide array of trading strategies, including the use of Expert Advisors (EAs), copy trading, scalping, and hedging. Moreover, it is well-suited for traders who prefer the MT4 platform and engage in currency and CFD trading.

Based on our findings and expert opinions, Velocity Trade is recommended for:

• Professional Traders

• Corporate Clients

• Traders from the UK, Europe, and Australia

• Investments

• Running EAs

• Copy Trading

• Scalping / Hedging Strategies

• Users of the MT4 platform

• Currency Trading and CFD Trading

• A Variety of Trading Strategies

• High Leverage Trading

New or less experienced traders may find more suitable options elsewhere, considering the high spreads and the broker's focus on larger or more seasoned investors.