NEW YORK--(BUSINESS WIRE)--CitiFX Pro today announced a new pricing structure for its clients, reflecting its focus on sophisticated and active individual traders within the forex trading 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 $10,000 to $50,000 and still tighter spreads for accounts larger than $50,000.
“Our extensive survey research conducted in late 2010 showed that the individual forex trading market is growing rapidly in both size and sophistication,” said Sanjay Madgavkar, Global Head of 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,” Mr. Madgavkar 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.
An overview of spreads on 130+ currency pairs is available at http://www.citifxpro.com/spreads.
About CitiFX Pro
CitiFX Pro is Citi’s online forex trading platform for active individual and small institutional clients including commodity trading advisors, broker-dealers, money managers, and hedge funds. CitiFX Pro is currently live in US, European and Asian markets and will be launched in additional regions in 2011. Additional information may be found at www.citifxpro.com.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.