CITIFX Pro Introduces New Pricing Structure for Forex Clients
CitiFX Pro, Citi’s online Foreign Exchange (forex) trading platform for individual and small institutional clients, has announced a new pricing structure for its clients, reflecting its focus on sophisticated and active individual traders within the forextrading community.
CitiFX Pro introduced a tiered account structure for its margin forex clients, with improved bid-ask spreads for major currency pairs for account sizes between US$10,000 to US$50,000 and still tighter spreads for accounts larger than US$50,000.
“We are delighted to offer our clients across the region the most competitive spreads available,” said Alex Knight, Head of Asia Pacific Margin Foreign Exchange trading at Citi.
“As a major participant in the global forex markets, Citi is well positioned to offer extremely competitive, highly reliable pricing along with excellent technology and client support that have already made CitiFX Pro a key player in this space across Asia Pacific. We are delighted to offer our clients across the region some of the most competitive spreads available,” Mr. Knight said.
CitiFX Pro said that spreads on major pairs for accounts opened with $50,000 or more would be as tight as 1.2 pips in the EURUSD while USDJPY, GBPUSD, AUDUSD would be 1.7 pips, 2.0 pips, and 1.9 pips respectively, under normal market conditions, making the spreads amongst the most competitive on offer from any bank in the market.
Citi is one of the world’s leading providers of forex liquidity to its clients. In 2010 the bank was voted “Best Bank for Spot FX”, “Best Bank for Dollar Yen” and “Best Retail FX Platform” by FX Week. In Asia in 2010 the bank was voted by clients as the bestforeign FX bank in China, India, Indonesia, Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam in the annual Asiamoney Magazine FX poll.