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.
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.
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.