Forex Financial Services
Velocity Trade
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Overview
Forex Financial Services was founded in 2008 and is headquartered in Australia, while Velocity Trade was established in 2007 and is based in Australia. Forex Financial Services holds licences including Australian Securities and investment Commission (ASIC), while Velocity Trade is regulated by Australian Securities & Investment Commission (ASIC) among others. Forex Financial Services serves 10,000+ clients worldwide; Velocity Trade has 10,000+. The minimum deposit is $2500 at Forex Financial Services and $1 at Velocity Trade.
| Feature | Forex Financial Services | Velocity Trade |
|---|---|---|
| Min. Deposit | $2500 | $1 |
| Regulation | Australian Securities and investment Commission (ASIC) | Australian Securities & Investment Commission (ASIC), BaFIN (German Federal Financial Services Authority ID: 10159853), Financial Markets Authority (FMA) of New Zealand, Financial Sector Conduct Authority of South Africa (FSCA) FSP No. 43295, Financial Conduct Authority (FCA Registered Number 497263) |
| Founded | 2008 | 2007 |
| Country | Australia | Australia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Forex Financial Services and Velocity Trade, directly affecting your bottom line as a trader. Velocity Trade has a lower barrier to entry with a minimum deposit of $1 (vs $2500 at Forex Financial Services). Neither broker charges withdrawal fees. Velocity Trade applies inactivity fees on dormant accounts; Forex Financial Services does not. Forex Financial Services charges deposit fees; Velocity Trade does not. Overall, Velocity Trade scores higher on fees in our assessment.
| Feature | Forex Financial Services | Velocity Trade |
|---|---|---|
| Min. Deposit | $2500 | $1 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
Forex Financial Services offers MT4, MT5, cTrader, while Velocity Trade supports MT4. Both brokers provide mobile trading apps for iOS and Android. Forex Financial Services supports social and copy trading features, which Velocity Trade does not offer. Forex Financial Services edges ahead on platform breadth and functionality in our scoring.
| Feature | Forex Financial Services | Velocity Trade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | No |
| cTrader | Yes | No |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4 | MT4, Mobile Apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Forex Financial Services and Velocity Trade compare. Velocity Trade runs regular live webinars; Forex Financial Services does not. Velocity Trade has a video library; Forex Financial Services does not. Velocity Trade publishes daily market commentary; Forex Financial Services does not. Velocity Trade integrates third-party research tools (Trading Central, Autochartist); Forex Financial Services does not. Velocity Trade maintains an archive of past webinars for on-demand viewing. Velocity Trade scores higher overall in education and research.
| Feature | Forex Financial Services | Velocity Trade |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Forex Financial Services accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Velocity Trade supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Forex Financial Services | Velocity Trade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Forex Financial Services and Velocity Trade offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Forex Financial Services | Velocity Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |