Will this work for a flat badge without the pin on the back?

If the badge has a clip instead of a pin, yes. Otherwise you will need to glue the badge on it (not recommended as gluing in badges is usually for recessed cut-out wallets so it stays secure.

Will the clip work on a 2" duty belt?

If you get the "Police" version, the clip can fit the ~2" duty belt. On the other hand, the standard version (these have the two visible chrome rivets in the clip) oval or circle badge holder clips only accommodate a 1.5" wide belt.

What are the two round Velcro holes for? (I figure for the chain) but how there is no Velcro on top

The two Velcro holes are so when you insert the pin through them you can adjust them vertically to make sure it is a nice & tight fit so your badge doesn't slide around. The very top part of the holder is where the chain loops through if you decide to use it.

Manufacturer	AKITSUMA
Brand	AKITSUMA
Model number	US-AKI-42
Product Dimensions	10.01 x 6.81 x 0.03 cm; 80 g
Color	Police Badge Holder
Closure	Clip
Material Type	Leather
Number of Items	1
Manufacturer Part Number	US-AKI-42
Item Weight	80 g

AKITSUMA Police Badge Holder, Black Leather, Universal, Heavy Duty, Metal Clip and Stainless Steel Chain Included

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