I just saw on the Velocity4x web site that they offer fixed spreads. I understand that indicates they have a dealing desk. I will try to confirm whether or not they have a dealing desk, or pass orders straight through to a liquidity provider.

You said you want to have a mini account, but I am not sure you can have a mini account with Velocity.
I think that you have to trade 100K lots.

If they use MT4 as a platform, they are a dealing desk

Does velocity have mini accounts btw?

__________________
- MetaTrader v4.00 Build 217 (02 Jul 2008)
- MetaTrader MultiTerminal v4.00 Build 213 (20 Mar 2008)
- Always use the latest (^ABOVE^) MetaQuotes products, saves a lot of nerves. What's new.
"METAQUOTES FOR LIFE!"

yes they do

I have a live account with Velocity4x for about a month now. So far they have been great! Server never goes down, all orders filled instantaneous even during news time. There spread on the Euro only widened to around 4 pips during the last Non Farm Payroll. There customer support is awesome. So overall very happy with them. I even been doing scalping trading with no problems as well. They are only 100 to 1 leverage, on all account types even mini. I believe they use currnex to fill there orders. I will let you know if I start seeing any problems with them. Sometimes brokers start out great, but then decline, like FXDD.

Thank you for a very informative post, jperna21. I am actually glad to learn that the spread on EUR/USD widened a little bit during NFP, instead of remaining fixed. If the spread were to remain at 2 pips during such volatility, I would expect it to whipsaw all over the place.

How do you figure that?

__________________
"Only those who dare to fail greatly can ever achieve greatly."

because according to other threads on this forum, the way the MT4 software is set up it is impossible for an ECN to use it.

If you know any different I would be interested

Having said all that having demoed their system and spoken to them i am seriously considering a live account

I've been trying since early Monday morning, 11-27-06, to open a trading account at Velocity4x, so far without success. The company seems disorganized and unable to handle new account applications. First I filled out and submitted the online form, but got no response. Then I downloaded, filled out, and signed the contract, photo ID, W9, and disclosure forms, scanned them to jpg files, put them in a zip file and e-mailed them to sales@velocity4x.com. Still no response. Finally I got an e-mail from them, but it was a canned response inviting me to go online and open an account. This morning I faxed the application documents to them. Friday evening I called their 800 number, was put on hold, then a recording asked me to leave my name and phone number, so they can get back to me.

What was the experience of others opening an account at Velocity4x?