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General Information |
| Brokerage name: VIP Futures
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| Minimum account size: $5000-$10000
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| Base commission rates: $11-$14
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Brief explanation of margin rates, if applicable:
N/A
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| This brokerage has been in business for: 2-5 years
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| Primary type of broker: Futures
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Brief description of services offered:
At VIP Futures, our brokerage services were created with you - the individual, online trader -in mind. We recognized that, in these ever-changing financial markets, order execution must be virtually instantaneous. All traders, whether novices or market veterans, must have access to knowledgeable, professional staff. That is the essence of the VIP Futures Advantage. At VIP Futures, we use cutting-edge technology to execute orders. Clerks deliver fast call-backs and instant trade confirmations. Our order-entry platform allows direct floor access, as well as broker assistance. Whatever our trading clientele need, VIP Futures is committed to offering the best in brokerage and order execution services
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Account Information
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Types of trading accounts offered:
| Full Service
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On-Line Full Service
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Premium Service
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Phone (touch tone) Discount Broker
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| Customers online account information is updated: N/A
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Types of trades offerered:
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| Other trade types: FOREX Trades
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Types of quotes offered to customers:
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Execution methods offered:
| Electronic direct access trading(SOES, SNET and the ISLD ECN)
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Broker
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Exchanges covered:
| CBOE-Chicago Board Options Exchange
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CBOT-Chicago Board of Trade
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CME-Chicago Mercantile Exchange
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CSCE-Coffee Sugar & Cocoa Exchange, Inc.
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| KCBT-Kansas City Board of Trade
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LIFFE-London International Financial Futures Exchange
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MATIF-France's Futures & Options Exchange
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MEFF-Spain's Futures & Options Exchange
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| MidAm-Mid-America Commodity Exchange
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NYCE-New York Cotton Exchange
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NYMEX & COMEX-New York Mercantile Exchange
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| Setup or initial costs to set up an account: 0
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Features
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Types of services offered to customers:
| Technical Analysis
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Basic -charts & graphs
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Advanced- charts & graphs (technical indicators, ability to change parameters, etc.)
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Trading software- charts & graphs (create trading systems, scan and sort based on technical criteria)
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| Head line news
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Unique proprietary stories and news coverage
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Ways customers can access their trading account:
| Internet
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Telephone
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Broker
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Mail
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| Allow stop, limit, and stop limit orders? Yes
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| Charge extra for stop, limit, and stop limit orders: No
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| Offer 24 hour customer support: Yes
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| Offer tax planning advice: No
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Additional Comments
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Special features included in the service are:
VIP DIRECT Online Order Entry Fast and Flexible! VIPDIRECT was engineered to ensure execution precision, faster trade turnaround and high performance reliability, ultimately allowing for enhanced trader performance. Using the latest in technology we have combined access to five different systems into one central network. Peer-to-peer network technology enables clients access directly into PSD's proprietary trading network, which immediately sends the order to the most efficient execution available. For example, market orders for open-outcry can be sent directly to the tradingfloor, while price orders are routed via TOPS or CUBSII. E-mini S&P and E-Mini Nasdaq orders route directly to GLOBEX2. As appropriate, orders are sent via CUBSII, TOPS or CBOT Electronic Clerk. Sometimes, as with New York markets, we've found that the fastest way to get a fill reported on an order is to phone it in to an arbitrage desk, rather than route it to a TOPS terminal. We've designed VIPDIRECT to handle each order in the most expedient way available. Savvy traders demand an online order-entry system that provides not only fast access to the market, but flexibility as well. For online futures traders, the solution is VIPDIRECT.
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This broker's service is better than the competition in these areas:
The primary difference with our firm versus other firms is that we offer a premier product and services and back it up with solid customer support. Because technology is fallible we offer backup brokerage so the client never has to be afraid to trade.
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Types of security precautions taken for customers:
N/A
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Communications during systems failures has been assured through:
N/A
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The major plans for upgrading the current level of trading service are as follows:
N/A
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