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CitiFX

  • #1
  • First Post: Feb 18, 2011 5:22am Feb 18, 2011 5:22am
Does anyone have a live account with CitiFX?
  • #2
  • Feb 18, 2011 6:33am Feb 18, 2011 6:33am
Quoting swamper
Does anyone have a live account with CitiFX?
very good solid broker/bank
  • #3
  • Feb 18, 2011 9:26am Feb 18, 2011 9:26am
LOVE THEM!! - Trade with Safety and Confidence. They're so big and so rich they don't even TRY to steal from you! - They're spreads are a little wider (a prestige premium) but its worth the flawless execution. Trade with a BANK!! (They provide liquidity for Collective FX and the conditions (spreads for smaller accounts) through CFX are better than going direct to CitiFX)
  • #4
  • Feb 18, 2011 11:00am Feb 18, 2011 11:00am
Aja, If I'm not mistaken, Collective Fx charges a monthly fee based on trade volume. Doesn't this cost offset CitiFX's spreads?
  • #5
  • Feb 18, 2011 11:56am Feb 18, 2011 11:56am
Quoting swamper
Aja, If I'm not mistaken, Collective Fx charges a monthly fee based on trade volume. Doesn't this cost offset CitiFX's spreads?
Yep, it works out better if you have any type of trade volume because of the better spreads and ability to scale risk with 0.01 microlots - plus you can hedge and LIFO like you want. CitiBank is exempt from a lot of the Dodd crap because they're a bank and not just a broker.
  • #6
  • Feb 18, 2011 2:13pm Feb 18, 2011 2:13pm
50:1 leverage though
  • #7
  • Feb 19, 2011 4:52am Feb 19, 2011 4:52am
Thanks for the responses, but does anyone have a live account with CitiFX?
  • #8
  • Feb 19, 2011 6:35am Feb 19, 2011 6:35am
Have you guys seen their new spreads? 1.2 for eurusd, unfortunately only for large accounts though
  • #9
  • Feb 19, 2011 9:12am Feb 19, 2011 9:12am
Quoting 22pipsup
Have you guys seen their new spreads? 1.2 for eurusd, unfortunately only for large accounts though
even with a 10k account you still get 1.6 on eur/usd not bad either
  • #10
  • Feb 19, 2011 9:12am Feb 19, 2011 9:12am
Quoting swamper
Thanks for the responses, but does anyone have a live account with CitiFX?
i do, what you wanna you know?
  • #11
  • Feb 19, 2011 10:12am Feb 19, 2011 10:12am
Does CitiFX report the swap on the order line or is it a separate 'adjustment'? (EA's cant read those line so you'll have 'profitable' trades that lose money on unreadable swap fees. I know the Boston Tech bridge that CitiFX is using can make this necessary. The Collective FX reports CitiFX swap in-order) - Oanda's new MT4 reports swap as an adjustment so they're unusable for me.
  • #12
  • Feb 19, 2011 10:42am Feb 19, 2011 10:42am
Quoting Aja
Does CitiFX report the swap on the order line or is it a separate 'adjustment'? (EA's cant read those line so you'll have 'profitable' trades that lose money on unreadable swap fees. I know the Boston Tech bridge that CitiFX is using can make this necessary. The Collective FX reports CitiFX swap in-order) - Oanda's new MT4 reports swap as an adjustment so they're unusable for me.
don't deal with EA'S
  • #13
  • Feb 19, 2011 3:25pm Feb 19, 2011 3:25pm
Quoting PoundTrader
i do, what you wanna you know?
Are you using MT4? Any trouble with slippage, lagging, spikes, extreme widening of spreads during news, etc.?
  • #14
  • Feb 19, 2011 3:34pm Feb 19, 2011 3:34pm
Quoting TheMaxx
50:1 leverage though
50:1 if you trade directly with CitiFX but 100:1 if you use them through CollectiveFX...
  • #15
  • Feb 19, 2011 3:47pm Feb 19, 2011 3:47pm
Quoting LEXngton
50:1 if you trade directly with CitiFX but 100:1 if you use them through CollectiveFX...
How much is your monthly fee to use CollectiveFX?
  • #16
  • Feb 19, 2011 4:03pm Feb 19, 2011 4:03pm
$147 per month and you get to trade 'X' lots. (I cant remember since I never go over the limit and get bumped to the next tier) - I want to say its 40 lots but it might not be that much. Their website is undergoing updates so I cant verify the structure. - They have conduits to CitiFX, Hotspot FX and Currenex, you choose which one to trade with. All have diff spreads, swaps and max size limits.
  • #17
  • Feb 19, 2011 4:33pm Feb 19, 2011 4:33pm
Quoting swamper
How much is your monthly fee to use CollectiveFX?
$147 for 45 100K round turn
$197 for 60 """
$247 for 75 """
$297 for 90 """
$347 for 105 """
$397 for 120 """
$447 for 135 """
$497 for 150 """
and
$975 for unlimited trade volume
  • #18
  • Feb 20, 2011 6:24am Feb 20, 2011 6:24am
Quoting Aja
$147 per month and you get to trade 'X' lots. (I cant remember since I never go over the limit and get bumped to the next tier) - I want to say its 40 lots but it might not be that much. Their website is undergoing updates so I cant verify the structure. - They have conduits to CitiFX, Hotspot FX and Currenex, you choose which one to trade with. All have diff spreads, swaps and max size limits.
Which of the three do you tend to trade with the most?
  • #19
  • Feb 20, 2011 8:24am Feb 20, 2011 8:24am
Interesting. I will look into this further when I get the chance.
Quoting LEXngton
50:1 if you trade directly with CitiFX but 100:1 if you use them through CollectiveFX...
  • #20
  • Feb 20, 2011 9:02am Feb 20, 2011 9:02am
Quoting swamper
Which of the three do you tend to trade with the most?
The default is CitiFX and the spreads are so nice and the execution so flawless that I dont want to switch BUT I'm going to see who has the best swaps because Citi has both-sided negative swap on a lot of the pairs. I think HotSpotFX has higher spreads but can do LARGE orders flawlessly. I dont know what the Currenex advantage is yet but Citi is *Nice* if you hold orders pretty short term and scalpers will love them because they can avoid swap by not having orders open during the calculation period.
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