Velocity Trade Review
Velocity Trade Limited is the digital trading platform operating worldwide. It was founded in 2007. The head office of Velocity Trade Limited is situated in Australia. It is a global broker having its headquarters located in Canada, New Zealand, South Africa and UK too. Velocity Trade has been growing since the past 15 years providing its customers the best Forex trading opportunities. It also provides Share Dealing Trade services to the clients. It assists its customers by offering multiple trading instruments and techniques around in a number of markets.
Here are some distinctive features of the broker that makes it a reputable firm for the customers to rely on.
- Account Types
The types of account a broker offers depends on the country that broker operates, the bodies regulating the broker and the requirements of the traders.
Velocity Trade offers only live Standard account for trading to its customers. One can open an account after the completion of an online application form proving all the personal credentials. Moreover, the broker also offers Islamic Bank Account to its Muslim clients that operates according to the laws of Shariah.
- Security
Before signing up with a broker, one should make sure if it is regulated by an authorized higher authority. The watchdog looking after a firm sets the benchmark of safety of that firm.
Velocity Trade is regulated by many regulatory bodies worldwide. These bodies include Australian Securities and Investment Commission in Australia, Financial Conduct Authority in UK, Investment Industry Regulatory Authority in South Africa and similar regulatory authorities in Canada and New Zealand too.
- Deposits and Withdrawals
Though the official website of the broker does not show the specific money transaction methods, but one can deposit or withdraw funds using the commonly used methods. These may include debit cards, credit cards, Neteller, Skrill or Bank Wire Transfer. Velocity Trade has no specific conditions such as minimum deposit requirements that apply to the bank accounts.
- Leverage
Where the leveraged assets increase the probability of profit for the traders, they simultaneously also make the chances of loss higher. So, one should utilize this opportunity smartly.
The clients in different geographical regions have access to different leverage ratios. For example, the customers in European Union can have regulated leverage only up to 1:30 while the ones residing in Australia can enjoy leverage access up to 1:500.
- Bonuses
Bonuses are actually the way to attract more and more customers towards the brokerage firm.
Velocity Trade provides no bonuses such as welcome bonus or deposit bonus etc. to its customers as it is against the ESMA regulations.
- Commission and Fees
When the broker firm perform the trading operations on behalf of the trader, they charge funds from the traders known as Commission. The broker charge commission according to the services they provide and the product that is being traded.
Velocity Trader’s charges are also dependent on the region and asset being traded. But as compared to the other online brokers, the charges of Velocity Trade are reasonable. However, they have comparatively higher non trading bills.
- Trading Instruments and Market
Velocity Trade provides its customers the opportunity to trade over a wide range of financial instruments. They offer over more than 200 tools that could be traded. These instruments may include commodities, Forex trading, margin products, indices, equities or futures.
- Customer Support
Before initiating a trade with a brokerage firm, one should make sure that it provides an efficient customer service to its traders. Velocity Trade provides its clients an effective service to solve their queries 24 hours, six days a week where they try their best to serve their customers in the best possible way. One can contact them through the online application form as they do not offer live chat option.
Conclusion
Velocity Trade offers a user-friendly platform to its customers where one can trade efficiently using all the updated tools and techniques and maximize the profit.
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