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CitiFXPro 20 replies

Citifxpro

  • #1
  • First Post: Feb 22, 2009 7:54am Feb 22, 2009 7:54am
Has anyone tried their live or demo?

Now the US Dollar Deposits in the US is 100% FDIC Insured as they advertise
until Dec 31, 2009. And I don't know why there is a date on that..

Your responds are appreciated.
  • #2
  • Feb 22, 2009 8:11am Feb 22, 2009 8:11am
Yea its because they're gonna be nationalized. JK

I tried their platform yesterday at the Traders Expo in NYC and it's pretty good.
"Diversification is an excuse for a lack of talent" ~FXC
  • #3
  • Feb 22, 2009 2:42pm Feb 22, 2009 2:42pm
Quoting Levent
Has anyone tried their live or demo?

Now the US Dollar Deposits in the US is 100% FDIC Insured as they advertise
until Dec 31, 2009. And I don't know why there is a date on that..

Your responds are appreciated.
It's because the FDIC has insured all US non interest bearing accounts through 12/31/09 and Citi is participating.

"Citibank is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through Dec 31, 2009, all Citibank U.S. non-interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Accordingly, US dollar margin deposits maintained with Citibank NA in connection with CitiFX Pro transactions are fully insured; Non-US Dollar amounts (EUR, GBP, JPY and HKD) are held outside the US and are not FDIC insured."

http://www.fdic.gov/regulations/reso...LGP/index.html
  • #4
  • Feb 22, 2009 8:24pm Feb 22, 2009 8:24pm
Quoting steve930
It's because the FDIC has insured all US non interest bearing accounts through 12/31/09 and Citi is participating.

"Citibank is participating in the FDIC’s Transaction Account Guarantee Program....
Thanks for the info. Would you say that if the security of your funds are concerned CITI is a better choice than DBFX until the end of the year ? However I liked the platform better on DBFX.
  • #5
  • Feb 23, 2009 4:33am Feb 23, 2009 4:33am
Quoting Levent
Thanks for the info. Would you say that if the security of your funds are concerned CITI is a better choice than DBFX until the end of the year ? However I liked the platform better on DBFX.
I never heard of DBFX and have never used Citi either. Citi is a dealing desk and goes through Saxo. I prefer an ECN. However, if you have to pick one of the two, and all things being equal, I would go through the one where the money is insured, at least until the end of the year.

Again, I have no experience with either.
  • #6
  • Mar 5, 2009 3:06pm Mar 5, 2009 3:06pm
yes the FDIC insurance is a big deal.
  • #7
  • Mar 5, 2009 4:19pm Mar 5, 2009 4:19pm
Bair Says Insurance Fund Could Be Insolvent This Year (Update1)

March 4 (Bloomberg) -- Federal Deposit Insurance Corp. Chairman Sheila Bair said the fund it uses to protect customer deposits at U.S. banks could dry up amid a surge in bank failures, as she responded to an industry outcry against new fees approved by the agency.
  • #8
  • Mar 5, 2009 10:18pm Mar 5, 2009 10:18pm
Quoting opie999
Bair Says Insurance Fund Could Be Insolvent This Year (Update1)

March 4 (Bloomberg) -- Federal Deposit Insurance Corp. Chairman Sheila Bair said the fund it uses to protect customer deposits at U.S. banks could dry up amid a surge in bank failures, as she responded to an industry outcry against new fees approved by the agency.
This is just the media taking something out of context and trying to make a headline. She was making a point as to why they are charging banks more fees.

If this happens, you would see a run on all banks, businesses would go under as they lost all their money and the whole banking/financial system would collapse. Won't happen. The gov't would not let it go under.
  • #9
  • Mar 6, 2009 10:08am Mar 6, 2009 10:08am
i just spoke to a guy at Citi about fdic. seems legit.
  • #10
  • Mar 6, 2009 12:14pm Mar 6, 2009 12:14pm
Quoting kdubs
i just spoke to a guy at Citi about fdic. seems legit.
I know it is legit but what happens by Dec 31st? That's the question.
  • #11
  • Mar 6, 2009 1:52pm Mar 6, 2009 1:52pm
Quoting steve930
This is just the media taking something out of context and trying to make a headline. She was making a point as to why they are charging banks more fees.

If this happens, you would see a run on all banks, businesses would go under as they lost all their money and the whole banking/financial system would collapse. Won't happen. The gov't would not let it go under.
I posted that article to give everyone a bit of food for thought. The manner in which the gov't has handled the economic "situation" thus far does not instill the same level of confidence in me as it does you.
  • #12
  • Mar 6, 2009 2:22pm Mar 6, 2009 2:22pm
Quoting steve930
I never heard of DBFX and have never used Citi either. Citi is a dealing desk and goes through Saxo. I prefer an ECN. However, if you have to pick one of the two, and all things being equal, I would go through the one where the money is insured, at least until the end of the year.

Again, I have no experience with either.
Really steve? Citibank goes through Saxo huh? Yes they do have a dealing desk, LIKE EVERY OTHER MAJOR BANK OR COMPANY that makes a market in fx. BTW, if you are on a legit ECN you are already trading with Citibank. BTW2, Citifxpro is Citi's retail arm and for which they white label Saxo's trading technology.
  • #13
  • Mar 7, 2009 7:03am Mar 7, 2009 7:03am
Quoting fxtrader42
Really steve? Citibank goes through Saxo huh? Yes they do have a dealing desk, LIKE EVERY OTHER MAJOR BANK OR COMPANY that makes a market in fx. BTW, if you are on a legit ECN you are already trading with Citibank. BTW2, Citifxpro is Citi's retail arm and for which they white label Saxo's trading technology.
Yeah, really. When I saw them a while back I called and was told they trade through Saxo. If you have an issue with that, then call them, don't beat your chest at me.

Apparently you're not too familiar with an ECN, but that's ok. Maybe you work for a bucket shop.

I really don't care if I'm trading with them or not, I was just giving my input.
By the way, you might want to cut down on the caffeine.
  • #14
  • Mar 7, 2009 7:10am Mar 7, 2009 7:10am
Quoting steve930
Yeah, really. When I saw them a while back I called and was told they trade through Saxo. If you have an issue with that, then call them, don't beat your chest at me.

Apparently you're not too familiar with an ECN, but that's ok. Maybe you work for a bucket shop.

I really don't care if I'm trading with them or not, I was just giving my input.
By the way, you might want to cut down on the caffeine.
steve you do understand a ECN can put though any feed they like?
  • #15
  • Mar 8, 2009 9:40am Mar 8, 2009 9:40am
Quoting Levent
I know it is legit but what happens by Dec 31st? That's the question.
Does it matter? For the next 10 months it's the safest place to put your funds.
  • #16
  • Mar 8, 2009 3:19pm Mar 8, 2009 3:19pm
Quoting >Apocalypto<
steve you do understand a ECN can put though any feed they like?
They are still not a bucket shop with a dealing desk that trades against you. If you disagree, that's fine. You have a right to your opinion. My last word on the subject here.

Profitable trading to all.
  • #17
  • Mar 9, 2009 11:07am Mar 9, 2009 11:07am
Has anyone received any more information on this?
  • #18
  • Last Post: Mar 21, 2010 8:26pm Mar 21, 2010 8:26pm
I was wondering if anyone has had any recent experience with these guys? I did a search and couldn't find any recent reviews.
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