Top Options
76/ 100
Regulated: Regulated by CFTC and NFA
Min Trade Amount: 0.01 Lots
US Clients:
Bonus: No Bonus Available
Leverage: 400:1
Free Demo Account:
Trading Platform: MT4, CitiFX Prime, CitiFX Velocity, Desktop and more
Payment METHOD NAME Charge Time

Screenshots

Full Review

About CitiFX

CitiFX is a purely institutional broker that has a 200 year history. The company is part of Citigroup, a true globalized financial services company. In 2007 the G10 and EM businesses were combined into a single global FX offering for its clients.

CitiFX is an American based company with several branches all over the world. As such, it is a member of the National Futures Association (NFA) and is regulated by the Commodities and Futures Exchange Commission.

 

Special Offers and Bonuses

No bonus offerings are given out by CitiFX, being an American based institutional broker.

 

Types of Trading Accounts

Traders can only open one type of live account. The minimum account deposit is $10,000, with 0.01 lots being the minimum lot size. The leverage is set at 400:1. This makes CitiFX a very convenient place for beginners to start their trading careers.

 

Trading Platform Features

CitiFX caters mostly to institutional traders such as hedge funds, banks and corporations. As such, most of the platforms offered by CitiFX are of an institutional nature and can only be used by professional traders. However, there are platforms for individual traders as well, and these platforms are all listed below as follows:

a)    CitiFX Pro – This application gives small institutions and individual traders access to flexible pricing and institutional-level liquidity, plus a host of trading solutions specific to their needs. Trades are executed on 4 sub-platforms including the MT4, or by means of a FIX API. Traders can get tight spreads in 130+ currency pairs.

b)    CitiFX Prime –This is the platform that serves over 100 clients globally, offering access to the FX market either directly or via a variety of electronic dealing portals.

c)     CitiFX Velocity: This trading platform was released in January 2012 and offers extremely fast execution speeds, space efficient use of desktop space and access to liquidity in over 100 currencies. Trade confidentiality is assured in secure portfolios, controlled only by CitiFX Prime.

d)    CitiFX TradeStream – This platform is compatible with a broad range of mobile devices that have internet connectivity including Palm, Pocket PC, Blackberry, iPhones/iPads as well as Android phones and tablets, and enables users to manage their accounts in real time from any location.

e)    CitiFX TradestreamSM: This platform provides high quality execution, access to aggregated liquidity from multiple liquidity providers, low latency technology that leverages on Citi’s FX infrastructure and is available through multiple technology channels.

f)     CitiFX Click is an intuitive and real-time post-trade reporting platform, delivering all the information our clients need at the click of a mouse. This platform is not a core trading platform, but deserves mention.

g)    CitiFX Pulse provides unparalleled real-time market access to FX spot, forward, NDF and swap pricing in over 400 currency pairs, 24 hours a day. This multi-product platform offers the best of blended local onshore pricing through a network of over 80 treasury sites and global coverage from FX market makers in New York, London and Sydney.

Commissions and Spreads

CitiFX offers institutional type floating spreads on all its assets. Information for spreads on each currency pair is only obtainable when the specific platform for trading is chosen by the trader. Here are the spreads for the CitiFX Pro platform.

Current
01:02 GMT
Overall
(all hours)
US
sessions
Europe
sessions
Asia
sessions
min   avg   max min   avg   max min   avg   max min   avg   max
EUR/USD 1.2 1.2 1.3 14.8 1.2 1.6 14.8 1.2 1.2 2.4 1.2 1.2 4.9
GBP/USD 2.0 2.0 2.2 19.7 2.0 2.5 19.7 2.0 2.0 4.5 2.0 2.1 7.0
USD/JPY 1.7 1.7 1.7 1.9 0.0 0.0 0.0 1.7 1.7 1.9 1.7 1.7 2.5
USD/CHF 2.0 2.0 2.8 4.0 0.0 0.0 0.0 2.0 2.0 4.0 2.0 2.7 4.0
AUD/USD 1.9 1.9 1.9 3.3 0.0 0.0 0.0 1.9 1.9 3.0 1.9 2.3 7.8
EUR/GBP 1.8 1.8 1.9 2.5 0.0 0.0 0.0 1.8 1.8 2.5 1.8 2.0 3.1
USD/CAD 2.8 2.8 2.9 6.0 0.0 0.0 0.0 2.8 2.8 6.0 2.8 3.0 6.0
NZD/USD 3.6 3.0 3.7 12.2 0.0 0.0 0.0 3.0 3.6 6.0 3.0 4.3 17.6
EUR/JPY 2.1 2.1 2.1 4.5 0.0 0.0 0.0 2.1 2.2 4.5 2.1 2.3 4.5
EUR/CHF 2.0 2.0 2.1 4.0 0.0 0.0 0.0 2.0 2.0 4.0 2.0 2.2 4.2
GBP/JPY 3.8 3.8 3.8 7.0 0.0 0.0 0.0 3.8 3.9 7.0 3.8 4.2 7.0
GBP/CHF 5.0 5.0 6.7 7.0 0.0 0.0 0.0 5.0 5.0 7.0 5.0 6.5 7.5
CHF/JPY 3.0 3.0 3.0 6.0 0.0 0.0 0.0 3.0 3.1 6.0 3.0 3.2 6.0
CAD/CHF 4.0 4.0 5.7 6.2 0.0 0.0 0.0 4.0 4.0 6.0 4.0 5.6 6.3
EUR/AUD 4.5 4.5 4.5 7.7 0.0 0.0 0.0 4.5 4.5 6.0 4.5 4.8 8.1
EUR/CAD 4.0 4.0 4.0 5.0 0.0 0.0 0.0 4.0 4.0 5.0 4.0 4.3 6.5
USD/ZAR 50.0 50.0 75.2 126.0 0.0 0.0 0.0 50.0 50.6 74.0 50.0 90.1 203.0
USD/TRY 6.0 6.0 11.4 26.2 0.0 0.0 0.0 6.0 6.3 9.6 6.0 12.1 26.2
USD/MXN 35.0 35.0 62.0 133.2 0.0 0.0 0.0 35.0 43.2 79.5 35.0 62.1 133.2
USD/SEK 26.3 26.3 34.9 152.6 0.0 0.0 0.0 26.3 32.7 152.6 26.3 41.6 152.6
AUD/JPY 3.0 3.0 3.1 9.0 0.0 0.0 0.0 3.0 3.1 9.0 3.0 3.3 9.0

 

Charting Packages

The charting packages are as presented on the various proprietary CitiFX platforms. Facilities for algorithmic trading are also available on CitiFX.

 

Education and Demo Accounts

The forex education suite on CitiFX is beyond the scope of beginners. If you are an intermediate or an advanced trader, the following publications form part of a continuous forex education suite:

a)    CitiFX  Research  delivers all the information traders need to navigate the FX markets, from intraday real-time comments, market wraps, strategy, trade ideas, technical analysis, quantitative and structured solutions

b)    Citi Velocity is a one stop shop for all the information you need to operate in FX markets. It comes in the form of an online publication.

c)     CitiFX Wire provides up to the minute information on the markets from traders and strategists tagged to your interests.

Other publications include Strategy Weekly, Quantitative Investor Solutions Update, and a Technical Analysis report which comes as a PDF report.

 

Customer Service

The CitiFX customer support center is available 24 hours, 5 days a week. Each regional office has its own customer service desk.

a) North America

– Address: Citibank NA – 390 Greenwich Street, 4th Floor, New York, NY 10013, US

– Phone: +1 (212) 723 3500

– Citibank NA – One Sansome Street, 27th Floor, San Francisco, CA 94104, US

– Phone: +1 (415) 627 6120

Online Trading Helpdesk (CitiFX Pulse and CitiVelocity),

Phone: +65-6786-8000, (Toll Free) 1-866-956-0085

 

b) Hong Kong 

– Address: Citibank Hong Kong – 48/F, Citibank Tower, Citibank Plaza, 3 Garden Road, Hong Kong.

– Phone: +852 2868 8136

c) UK

Address: Citibank NA – Bleicherweg 10, CH-8001 Zürich, Switzerland

Phone: +41 (58) 750 70 77

Detailed contact information is obtainable on the website.

 

Deposits and Withdrawals

The only method available to traders to make deposits on CitiFX is via bank wire transfer. Withdrawals can only be made using bank wire transfers.

CitiFX Pro accounts can be funded via bank wire only.

Deposit Limits

The minimum deposit amount that traders can put up on an account is set at 10,000 USD (or equivalent in other currencies). Depending on your bank, wires will generally arrive in 3-5 business days. Once your funds have been received, your CitiFX Pro account will be updated appropriately to reflect the deposit.

Funds from a bank account must carry the same name as your CitiFX Pro account. 

Withdrawal Limit

There are no minimum or maximum withdrawal limits. You may withdraw funds from your trading account at any time without fees or service charges. Funds can only be withdrawn into a bank account held in the same name as the trader’s CitiFX account.

 

Conclusion

CitiFX is not suited for beginners. However if you are a professional trader, or you want to invest some of your company funds as a true competitive trading entity, then CitiFX is the way to go. Leverage on 200 years of service to the financial world to trade in a safe and secure environment.