Trading foreign exchange involves a high degree of risk. CitiFX Pro offers trading on margin. The leverage created by trading on margin can work against you as well as for you, and losses can exceed your entire investment. Before opening an account and trading, you should ensure that you understand the risks and can withstand the losses and that you seek advice from your advisors as appropriate.In the United States, CitiFX Pro is a service offered by Citibank N.A., New York, 390 Greenwich Street, New York, NY 10013. Citibank N.A. is an entity organized under the laws of the United States of America.Please review the Risk Disclosure and Privacy Disclosure carefully before opening an account.
Copyright © 2012 Citigroup Inc.
Recent Mentions
CitiFX Pro in the press
Metaquotes and CitiFX Pro integration – an interview, Citi to launch TradeStream offering
February 2012
Metaquotes recently integrated its MT5 platform with CitiFX Pro meaning that now MT5 brokers would be able to easily plug into Citi’s liquidity (pending an agreement with Citi of course) and it was a good chance to catch up with Sanjay Madgavkar CitiFX Pro’s Global Head:
Q: Please give some background about CitiFX Pro’s current status in the forex market. if possible volumes, clients, directions you are taking etc
CitiFX Pro will have its 4th anniversary at the end of March. During this period we have expanded from just a US presence to a presence in several countries in Asia and Europe. Our offering is not really a retail offering – for instance, our average deposit is ~$100,000 compared to the typical retail broker which has an average deposit size of approximately $3,000-5,000. We are focused at the present time on launching TradeStream, our product for Small and Mid Sized Institutional Clients. TradeStream offers liquidity sourced from a range of liquidity providers which results in extremely tight pricing and deep liquidity. We will also soon launch a new MT4 offering using TradeStream liquidity for high volume clients.
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Metaquotes and CitiFX Pro integration
FX Week Best Retail Platform Goes to CitiFX Pro
July 2011
After winning an award from the British P&L magazine, CitiFX Pro continues to grab awards: this time it is from FX Week. The industry newsletter named CitiFX Pro as the “best retail platform” in the 2011 e-FX awards. The forex trading platform previously announced that it will be servicing Saxo Bank clients in the US. CitiFX is the only bank forex broker currently operating in the US.
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CitiFX Pro Voted Best Retail FX Platform by readers of Profit & Loss
June 2011
The readers of Profit & Loss, a leading UK magazine following the global currency and derivatives markets, have given Citi’s CitiFX Pro their “Reader’s Choice” Digital Markets Awards for margin FX trading.
In the bank provider categories, Citi won six awards including Best Retail FX Platform. For the fourth consecutive year, Profit & Loss opened its website in April and May for readers to vote for the best bank, broker and service providers across 14 key categories. This year, more than 10,000 votes were registered making it the largest response to date for the awards.
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CitiFX Pro Voted Best Retail FX Platform
CitiFX Expands Into New Markets To Gain The Market Share Left By dbFX
April 2011
Just a few days after Deutsche Bank announcing that they are withdrawing from Retail Forex and Citi makes a move to consolidate to fill in the vacancy and become the major "sole" interbank broker in the retail industry, with the permission of Barclays that has not make any significant move since its launching yet.
The announcement of Citi expanding into new markets is then a logical step, taken first to make sure that everyone gets that they are here to be an important actor and secondly I guess they are trying to get on board former dbFX clients that want to keep dealing under the safeness of a major investment bank umbrella. Remember that the average account size of dbFX clients were around $100k, more than 40 times the average account size for in the retail FX business. A nice battle has just begun.
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CitiFX Expands Into New Markets
CitiFX Pro to Service U.S. Customers of Saxo Bank
April 2011
Citi has reached an agreement with Saxo Bank, the Danish online trading company, to transfer qualified U.S. customers to CitiFX Pro, Citi’s online foreign exchange trading platform for individuals and small institutions. Saxo clients that meet Citi’s eligibility and other standards will have the opportunity to opt into a seamless process which would enable a smooth transfer of their accounts to Citi.
“We are pleased to reach this agreement with Saxo Bank,” said Kevin Wilson, Citi’s North American Head of Foreign Exchange Margin Trading. “In just a few years, CitiFX Pro has become the venue of choice for experienced individual FX traders and small to mid-sized institutions. CitiFX Pro will provide a familiar environment for Saxo clients, with similar front-end technology and the added benefit of trading on the MetaTrader 4 platform and spreads from 1.2 pips.”
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CitiFX Pro to Service U.S. Customers of Saxo Bank
Citi Plans CitiFX Pro Expansion
April 2011
Citigroup is planning to expand its foreign exchange trading platform in Europe, the Middle East and Asia 2011. CitiFX Pro is seeking to introduce a new FIX-API solution for clients in May this year.
The trading platform has expanded into new markets, including the U.K., Switzerland, Singapore and other Asian markets, since its launch three years ago. CitiFX Pro provides competitive spreads starting from 1.2 pips in the EURUSD for individual clients and offers its users access to both CitiFX Strategy and Technical reports.
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The second phase of the CitiFX Pro Trader Survey
Novemer 2010
The second phase of the CitiFX Pro Trader Survey of 2010, based on more than 3,000 international participants, indicates 53 percent of traders surveyed employ a combination of fundamental and technical strategies, with 36 percent saying they only use technical analysis strategy and a minority of 8 percent saying they adhere to a strictly fundamental strategy. Most traders focus on a relatively narrow range of currency pairs, with 65 percent saying they trade from one to five pairs of currencies, 25 percent trade from five to 10 pairs, 6 percent trade 10 to 15 pairs, and about 5 percent of individuals trade more than 15 pairs. The euro/dollar is by far the favorite pair, with 51 percent trading it. Other frequently mentioned pairs included sterling/dollar with 18 percent, euro/yen with 6 percent; and sterling/yen at 5 percent. Leverage varies widely with 50 to 100 times capital invested the most common range, with another 18 percent employing leverage of more than 100 times capital. Low ratios of 1 to 5 times were also relatively common at 20 percent, with 5-10 times at 13 percent, 10-20 times at 10 percent and 20 to 50 times also at 10 percent. Leverage ratios in some jurisdictions are limited by rule.
Citi's Retail Survey
November 2010
We frequently get sent surveys focused on the working methods of retail traders and they are seldom illuminating. But it is worth paying some attention to the one published this week by CitiFX Pro, Citi’s online FX trading platform for active individual and small institutional players.
The old, and partly apocryphal, method of managing trades from retail players – by assigning them to the ‘B’ book so that they can eventually cut themselves out at a loss – is probably no longer wise, if it ever was. It seems the prime method by which retail providers differentiate themselves – other than spread or commission – is by offering client training. Assuming the training isn’t a heap of baloney, the retail sector must be getting wiser and wiser.
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Forex Survey from CitiFX
September 2010
My good friend Francesc from FXStreet alerted me to CitiFX’s new survey of Forex Traders. I am always a big fan of initiatives that create greater transparency in the forex market. I’ve taken the survey, and you may want to do so as well so that they have a reliable sample set of data that we can all reference for some time to come.
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Citi and Goldman break into retail FX
November 2009
Citi and Goldman Sachs are breaking into the retail foreign exchange market by launching an online FX margin trading platform and buying a 10% stake in an online retail CFD company, respectively.
The banks join Deutsche Bank, ABN Amro and UBS, all of which have entered the market with platforms. The German dealer has partnered with online broker FXCM, and ABN and UBS have teamed up with Oanda. According to London-based client strategy firm, ClientKnowledge, the retail FX market is sized at more than $50 billion a day.
Citi’s new platform, CitiFX Pro, is a version of Saxo Trader, Saxo Bank’s online trading platform. However, a differentiator between the two platforms is that advice and trading recommendations will not be given on CitiFX Pro, said Kim Fournais, co-chief executive of Saxo Bank in Copenhagen. The platform will also be customised to fit Citi’s preferences for design and functionality.
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Citi and Goldman break into retail FX (PDF)
CitiFX Pro is making significant gains in the high-growth margin FX trading market
July-August 2009
Building upon Citi’s long history and market leadership in global foreign exchange, CitiFX pro provides small institutions and sophisticated individual traders access to competitive pricing and institutionallevel trading technology, including advanced order and execution functionality, world-class liquidity in over 130 currency pairs and access to Citi’s award-winning research and FX market commentary. CitiFX pro also offers FdiC coverage on all uS dollar margin deposits (currently unlimited), a groundbreaking offering in the marketplace.
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