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Citifxpro 17 replies

CitiFXPro

  • #1
  • First Post: Jan 6, 2012 8:27am Jan 6, 2012 8:27am
Does anyone have any current reviews or commentary on CitiFX? I currently use oanda and I would like to fund a second account to employ separate strategies on the same pairs. I like the fact that their fx margin accounts are FDIC insured.

I would very much appreciate current input beyond what is in the broker reviews
Any prices quoted are futures
  • #2
  • Jan 6, 2012 10:46am Jan 6, 2012 10:46am
my broker, i love them, what else do you wanna know
  • #3
  • Jan 6, 2012 1:16pm Jan 6, 2012 1:16pm
Do you use their MT4, web, or desktop platform? I am demoing their desktop platform and found it initially confusing the use. do you have very reliable connectivity? do the spreads change during major news releases?
Any prices quoted are futures
  • #4
  • Jan 7, 2012 8:25am Jan 7, 2012 8:25am
Quoting redteamgo
Do you use their MT4, web, or desktop platform? I am demoing their desktop platform and found it initially confusing the use. do you have very reliable connectivity? do the spreads change during major news releases?
i use there desktop platform i must say it takes time to get use to, a long time , there spreads pretty much stays the same, i trade gbp/usd my spreads are 2 pips, never had a connection issue.
  • #5
  • Jan 7, 2012 10:13am Jan 7, 2012 10:13am
My only problem with them is...... they are not accepting clients from Malaysia. I asked them months ago after DBFX closed their retail FX business, and they said that have plan to accept "us" in future, but don't know when...

cheers
  • #6
  • Jan 7, 2012 10:51am Jan 7, 2012 10:51am
thanks zam & poundtrader. from an offering perspective, i am very much liking them as a potential broker & it seems like the downsides are very limited. I just need to learn the desktop platform as i dont like trading from MT4
Any prices quoted are futures
  • #7
  • Jan 9, 2012 3:41am Jan 9, 2012 3:41am
Quoting redteamgo
thanks zam & poundtrader. from an offering perspective, i am very much liking them as a potential broker & it seems like the downsides are very limited. I just need to learn the desktop platform as i dont like trading from MT4
Anyone experience any requotes or slippages when trading the news?
Forex brokers real time discount - visit Abundance trading group. com
  • #8
  • Jan 9, 2012 8:38am Jan 9, 2012 8:38am
PoundTrader are you happy with their spreads. Last time I looked at them I thought they were a little on the high side. Also (if you use MT4) does the platform still do bridge syncs? (never been a fan of BT bridges since you cant easily reconcile the amounts yourself)
  • #9
  • Jan 9, 2012 12:00pm Jan 9, 2012 12:00pm
Just to point it The collective FX in fact offer CitiFX feed & they have good execution but the way they charge comission is a bit different from other brokers around.

13
Brokers are angels
  • #10
  • Jan 9, 2012 12:36pm Jan 9, 2012 12:36pm
Quoting BlackOpz
PoundTrader are you happy with their spreads. Last time I looked at them I thought they were a little on the high side. Also (if you use MT4) does the platform still do bridge syncs? (never been a fan of BT bridges since you cant easily reconcile the amounts yourself)
i dont use mt-4 and i get 2 pips spreads on the pair i trade gbp/usd with no comm, witch is very good for me
  • #11
  • Jan 12, 2012 6:12pm Jan 12, 2012 6:12pm
CitiFX Pro requires at least $10k to open an account with them. For the Standard accounts (below $50k), their spreads are in general worse than other top brokers. For Premium accounts ($50k and above), the spreads are tighter. One good thing about CitiFX Pro is that they have about 130 currency pairs. So if you want to trade minor or exotic pairs, it may be good. However, if you just trade a few major currency pairs, you can find better spreads from other brokers.

Also, they only accept wire transfers to fund the account even for clients in the US. They don't accept other methods to fund the account, such as ACH, check, or credit card etc. This is a expensive method for US clients. And the only way to withdraw funds from the brokerage account is also wire, although they claim that they don't charge fees for doing that.
  • #12
  • Jan 18, 2012 1:26am Jan 18, 2012 1:26am
I sent an e-mail in to them, because I'm this close to opening a premium commission based account with them.

They wrote back and said spreads for Eur/Usd during London/NewYork are between .3 and .7. And the commission is $35 per million in contracts traded, which is the best I've seen anywhere.

The other good thing is the deposits being FDIC insured which is fantastic.

And since they are a major big boy bank, it gets rid of one layer of execution to fill orders.

Who here has a premium, commission based account with them? $50,000k min. I would love to hear what you think. My guess is though, most of the traders on here wouldn't have trading accounts that size.
  • #13
  • Jan 18, 2012 3:14am Jan 18, 2012 3:14am
Quoting TrevDawg
I sent an e-mail in to them, because I'm this close to opening a premium commission based account with them.

They wrote back and said spreads for Eur/Usd during London/NewYork are between .3 and .7. And the commission is $35 per million in contracts traded, which is the best I've seen anywhere.

The other good thing is the deposits being FDIC insured which is fantastic.

And since they are a major big boy bank, it gets rid of one layer of execution to fill orders.

Who here has a premium, commission based account with them? $50,000k min....
Sounds good but do they slip you on news? Delay your trades? After all they are a market maker.
Forex brokers real time discount - visit Abundance trading group. com
  • #14
  • Jan 18, 2012 7:15pm Jan 18, 2012 7:15pm
Quoting PoundTrader
my broker, i love them, what else do you wanna know
Do they offer interbank liquidity? or just a simple market maker for themselves?
Be the market
  • #15
  • Jan 18, 2012 9:19pm Jan 18, 2012 9:19pm
Quoting alvseek
Do they offer interbank liquidity? or just a simple market maker for themselves?
something you need to ask them
  • #16
  • Jan 19, 2012 4:40am Jan 19, 2012 4:40am
I looked up their trading conditions - apart from the huge account minimums they are quite candid about the fact that they prefer experienced traders. Also their account opening formalities are quite arduous, and I was surprised to read on their website that they may also do a credit verification check before accepting a client.
  • #17
  • Jan 19, 2012 8:39am Jan 19, 2012 8:39am
Quoting devshishya
I looked up their trading conditions - apart from the huge account minimums they are quite candid about the fact that they prefer experienced traders. Also their account opening formalities are quite arduous, and I was surprised to read on their website that they may also do a credit verification check before accepting a client.
they don't want newbies, there looking for trading who makes money not traders who blow there account every 3 months
  • #18
  • Jan 19, 2012 8:57am Jan 19, 2012 8:57am
Quoting PoundTrader
something you need to ask them
Another question, did you ever have a problem with withdrawal?
Be the market
  • #19
  • Jan 19, 2012 4:39pm Jan 19, 2012 4:39pm
Quoting alvseek
Another question, did you ever have a problem with withdrawal?
no, these guys are pro, the biggest broker in the game.
  • #20
  • Jan 19, 2012 9:27pm Jan 19, 2012 9:27pm
Quoting PoundTrader
no, these guys are pro, the biggest broker in the game.
Wow, good to hear that.

Btw, citifx have a minimum pending order distance isn't? do you happen to know the minimum? I'm scalping and in the demo i find it very large
Be the market
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