Prime Broker with $100k minimum deposit requirement | Forex Factory

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Prime Broker with $100k minimum deposit requirement

  • #1
  • First Post: Feb 10, 2015 2:09pm Feb 10, 2015 2:09pm
Hello does anyone knows a prime brokage with minimum deposit $100,000 which can also provide a mobile trading platform for either iOS or android?
  • #2
  • Feb 11, 2015 2:51am Feb 11, 2015 2:51am
Quoting oladinpeter
Hello does anyone knows a prime brokage with minimum deposit $100,000 which can also provide a mobile trading platform for either iOS or android?
What's with this forum and their obsession with prime brokers? Prime broker is not a BROKER, it's just a settlement venue with ISDA agreements with institutions between counter parties and the company. Prime Broker if you don't use them as a liquidity provider doesn't actually provide any trading facilities, they do finance leverage through credit department though, but come on, prime broker cost at least 20 Million USD. With 100,000? Go Prime of Prime. You're not going to get Prime Broker for 100,000. The fees for Citi Bank's PB is $360,000 PA, $120,000 for JPM PA.

People on this page really need to stop thinking prime broker is for the normal investor, it isn't! It's only for funds and corporates, go mess around with Margin FX at Goldman Sachs for HSBC if you want bank liquidity or bank counterparty, but not a prime broker.......

I am seriously going to start a page soon about what a FX Prime Broker actually is..... too many brainless questions around here.
  • #3
  • Feb 11, 2015 5:43am Feb 11, 2015 5:43am
Quoting plotinus82
{quote} What's with this forum and their obsession with prime brokers? Prime broker is not a BROKER, it's just a settlement venue with ISDA agreements with institutions between counter parties and the company. Prime Broker if you don't use them as a liquidity provider doesn't actually provide any trading facilities, they do finance leverage through credit department though, but come on, prime broker cost at least 20 Million USD. With 100,000? Go Prime of Prime. You're not going to get Prime Broker for 100,000. The fees for Citi Bank's PB is $360,000...
thanks for you reply
  • #4
  • Feb 12, 2015 10:13am Feb 12, 2015 10:13am
PB require 1 million just as hotspot or currenex. They don't accept retail moreover... You need a broker to access interbank market.

www.fixi.com requires a 100k minimum deposit. The last one in UK to provide a Prime of Prime service for retail.
  • #5
  • Feb 12, 2015 11:01am Feb 12, 2015 11:01am
Quoting MaximeCau
PB require 1 million just as hotspot or currenex. They don't accept retail moreover... You need a broker to access interbank market. www.fixi.com requires a 100k minimum deposit. The last one in UK to provide a Prime of Prime service for retail.
Hotspot and Currenex aren't PBs, they're ECNs, you cannot buy and sell on those unless you have a ISDA with a PB.
  • #6
  • Feb 12, 2015 11:07am Feb 12, 2015 11:07am
Quoting plotinus82
{quote} Hotspot and Currenex aren't PBs, they're ECNs, you cannot buy and sell on those unless you have a ISDA with a PB.
I never said they was PB. Read : I separate them from PB in my sentence...
  • #7
  • Last Post: Feb 12, 2015 11:22am Feb 12, 2015 11:22am
Quoting MaximeCau
{quote} I never said they was PB. Read : I separate them from PB in my sentence...
I'm pointing out that you suggested that it was an execution venue for retails. It was never the case.
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