New York – February 2011 – CitiFX Pro today announced a new pricing
structure for its clients, reflecting its focus on sophisticated and active individual
traders within the forex trading community.
CitiFX Pro introduced a tiered account structure for its margin forex clients, with
improved bid-ask spreads for major currency pairs for account sizes between
$10,000 to $50,000 and still tighter spreads for accounts larger than $50,000.
“Our extensive survey research conducted in late 2010 showed that the
individual forex trading market is growing rapidly in both size and sophistication,”
said Sanjay Madgavkar, Global Head of Margin Foreign Exchange trading at Citi.
“As a major participant in the global forex markets, Citi is well positioned to offer
extremely competitive, highly reliable pricing along with excellent technology and
client support that have already made CitiFX Pro a key player in this space,” Mr.
Madgavkar said.
CitiFX Pro said that spreads on major pairs for accounts opened with $50,000 or
more would be as tight as 1.2 pips in the EURUSD while USDJPY, GBPUSD,
AUDUSD would be 1.7 pips, 2.0 pips, and 1.9 pips respectively, under normal
market conditions.
An overview of spreads on 130+ currency pairs is available at
http://www.citifxpro.com/spreads.
About CitiFX Pro
CitiFX Pro is Citi’s online forex trading platform for active individual and small
institutional clients including commodity trading advisors, broker-dealers, money
managers, and hedge funds. CitiFX Pro is currently live in US, European and
Asian markets and will be launched in additional regions in 2011. Additional
information may be found at www.citifxpro.com.
About Citi
Citi, the leading global financial services company, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers,
corporations, governments and institutions with a broad range of financial
products and services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and wealth
management. Additional information may be found at www.citigroup.com or
www.citi.com.
Media Contacts:
Alexander Samuelson
Tel: 1-212-816-8022
Email: [email protected]
Jeff French
Tel: +44-207-500-8304
Email: [email protected]
