To use chat, please login.
Back to contacts

Trading with Banks.

Igor
Igor123472 (Igor123472)
May 26 2013 at 20:46
117 posts
Hi all,

Someone knows how much is necessary to open Forex account with banks?
Example: BNZ, NAB , Nomura, Commerzbank and etc...

Probably i guess that to trade with banks is played by an elite.

Yuriy Zelinskiy
GeorgeTrader (GeorgeTrader)
May 27 2013 at 10:55
22 posts
Hello, Igor.
It's a nice question.
I would like to know that too.
So please, if someone knows the answer, put it here.😕

PipGnostic
TheCyclist (TheCyclist)
May 27 2013 at 11:29
724 posts
Mail them...but don't expect to walk in there with MT, have to know what you're doing.

Most replies I got was they'll only take institutional investors, which has very broad definition. Basically you need a company first.

chrish9070 (chrish9070)
May 27 2013 at 19:53
45 posts
I have a friend who works for Deutsche Bank and they only take a minimum open account of 500 million. Not sure if every bank is the same but that is their starting line for a proper fx account

Igor
Igor123472 (Igor123472)
May 27 2013 at 20:03
117 posts
WOW, its a huge money man, i have a colleague that trade with Barclays. I think that minimum account is 10K.. (for micro investor of course)

Iroa
May 28 2013 at 22:30
37 posts
Ok that's a load of crap. If that were the case, most people including brokers will not able to maintain a minimum balance.

I know this because my workplace has an fx account with NAB. THERE'S NO MINIMUM OPENING BALANCE AT ALL! The only caveat is that you'd only be able open it with a business and they start slugging you with fees if the balance falls below $20000 aud.

I highly doubt other banks are so much different.

wlk1
May 29 2013 at 03:35
69 posts
Citibank and Barclays have their own brokerage arm, while OCBC in Singapore accepts accounts directly.

Citibank - https://www.citifxpro.com/ >> USD10,000 (Standard) / USD50,000 (Premium)
Barclays - https://www.barclaysmarginfx.com/ >> GBP2,500
OCBC - https://portal.iocbc.com/Accounts/leveraged-forex-account.html >> USD500 (Mini) / USD30,000 (Standard)

The market will go up, failing which, it will go down.
petays
May 29 2013 at 05:31
86 posts
Banks typically have higher fee structure because they do not benefit from loosing customers like most brokers do!
And they don't offer much leverage because institutional traders don't use much leverage. 1:50 in forex is good leverage.
But remember that most banks are just brokers and even might use same infra your regular broker does.

Being Bearish or Bullish Makes No Difference
supertrader91
May 29 2013 at 10:44
82 posts
chrish9070 posted:
I have a friend who works for Deutsche Bank and they only take a minimum open account of 500 million. Not sure if every bank is the same but that is their starting line for a proper fx account


Owh god...please don't spread something you don't know. Newbies please do your research okay...Deutsche Bank need about 25m if you want them as a prime broker..rabobank about 500k...there are other just shop around. Call and ask them.

If you work hard consistently eventually you will get it.
wlk1
May 29 2013 at 14:44
69 posts
supertrader91 posted:

Owh god...please don't spread something you don't know....



What he said ...

The market will go up, failing which, it will go down.
Please login to comment .