Bank of America...

...I'm curious if one can trade directly through Bank of America as they are a Currenex Prime Broker just as Citigroup has citifx pro does BOA offer anything like this. I have looked but cannot find anything. This would be similar to Fortis as well. Anyone have any input or know anything about this? I'm going to make some phone calls tomorrow and see if I can get more info if I don't get any info here. Thanks.

BOA does not have a retail platform. They do have an institutional platform and liquidity feed. They are also giving liquidity to retail clients through numerous FCM's, currenex, bloomberg, fxall, RTFX, hotspot, lava, and others. However, you can not go to BOA and trade directly without a few mio. You will have no real advantage by trading with them directly unless you are going to put like at least 20M with them because you will not get their best spreads because you will be very tiny in their eyes. If you wanted to get into options, swaps, forwards and some other derivatives then going with them would make sense but still 2-5M will be the least they would consider.

dbfx and citipro are crappy products designed to capture the retail client but they offer nothing new or better. and to be honest i dont think Fortis has anything for the retail client directly either but you can get their liquidity through Currenex, bloomberg, fxall, 360, RTFX and others.

Hope this helps. Also, you can make some calls maybe some things have changed.

Interesting. Let me know what you find out. I have an account with them.

Mike

Seeing as how BofA would be a prime broker, it makes senese to me that you would need major funds to be seen as anything substantial in their eyes. Some of the better managed funds use them as a broker, then again you need a minimum of $15mio to open an account with these people as well...

Ok I talked to Banc of America (no not Bank) lol , they offer online trading for Equities but no foreign exchange. They can make forex trades for you but it's over the phone, no online application, this is great for scalpers!!! lol...."BUY NOW, hold....hold...wait for it...OK EXIT NOW" lol