Citi said that the introduced a tiered account structure is 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.
Citi Global Head of Margin Foreign Exchange trading Sanjay Madgavkar said that the extensive survey research conducted in late 2010 showed that the individual forex trading market is growing rapidly in both size and sophistication.
"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," 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.
