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Trading with Prime Brokers with what kind of Margins?

  • #1
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  • First Post: Edited 8:54pm Jun 11, 2023 7:32pm | Edited 8:54pm
Anybody knows how much deposits is needed to trade with a Prime Broker on Forex like Citi, JPM or Deutsche Bank as example ? Does also the turnover in yards per month play a significant role whether one can get an account here to trade Spot Forex ? What kind of margins do they offer ? For initial and stopout close level, so what is the minimum margin you need to trade FX majors or minors (not Exotics) ? What leverage you can get with the big Top 10 banks in Spot Forex trading ? Anyone knows more ? I am just interested to know some facts here. Thanks.

Second, what kind of max. position size one can do with IC Markets or Exness as retail brokers ? Sometimes I read they increase margins when you go above 1500 lots per symbol or overall position size across all FX symbols, is that true ? Because on support they say there are no limits at all you can get 500:1 leverage all the time regardless how many yards you trade or have as open position. What is true ?

Third, if you get too large for a retail broker what are your best options between trading retailers and big banks as a middle in there ? Advancedmarketsfx, Sucden, Baxter FX or with whom ? What kind of max. leverage you can get there (initial and stopout level ?) for Spot FX (non exotics) ?

If you always want to have the max. leverage available for trading, just in case, what are the best brokers for which trading/position or account size ? Best paths here ?

I am just interested in that topic.
  • #2
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  • Jun 11, 2023 11:41pm Jun 11, 2023 11:41pm
First off, I never have traded with a Tier 1 Prime broker only with Prime of Primes (PoP).I'd think your be hard pressed to find a fund manager with a Tier 1 PB on FF.

That being said from what I can gather you would need to have significant amount of capital for the Tier 1 PBs you mentioned, probably in the neighborhood of $500M AUM. Earlier it was probably around $25-50M AUM before the SNB debacle which made PBs become much more selective with who they conduct business with. Maybe you could get by with less if you do significant amounts of volume (+10B/Month) and you're classified by them (the PB) as a client with steady low risk flow. You would also need to be a regulated fund to secure a PB (no individuals/unregulated entities/corporation etc). Leverage would probably be in the 25-40:1 span for FX majors, maybe a bit less for the really large hedge funds (+$5B AUM).

Remember this, most retail brokers are optimized for retail flow meaning sizes up to 500K-1M on majors. The moment you start to place single ticket order larger than this you're better of moving to a PoP. Even for 500K ticket sizes a PoP is usually a way better option. You could of course execute such sizes or larger with a retail FX broker but execution will usually start to become an issue.

PoP are a good option and have taken up a ton of the business that PB used to handle. They usually offer 100:1 leverage on majors. Most will want you to clear at least $50M/month in volume while other will want $100-400M. Some offer GUI access while other only provide access through FIX protocol. Some accept individual/private trader while others only accept institutions/funds. Usually there is a $20-250K min deposit.

List of PoP:
Saxo Markets
ATFX
Advanced Markets
Bidx Markets
FXCM Pro
FXCM Prime
Finalto
IS Prime
Equiti
StoneX
Sucden
Velocity

If you can't get with any of these PoP and you're in a jurisdiction where Interactive Brokers offers access to Spot FX then this is a OK bridge solution until you've managed to clear enough volume to move to a true PoP.

A word of caution: I would not under any circumstances touch Baxter FX these days. Lots of complaints from people and severely doubt they still provide access to Hotspot/FxAll as they state. A "do not touch" IMO.

Hope this helps.
  • #3
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  • Edited 2:16am Jun 12, 2023 12:12am | Edited 2:16am
Quoting Trader915
First off, I never have traded with a Tier 1 Prime broker only with Prime of Primes (PoP).I'd think your be hard pressed to find a fund manager with a Tier 1 PB on FF. That being said from what I can gather you would need to have significant amount of capital for the Tier 1 PBs you mentioned, probably in the neighborhood of $500M AUM. Earlier it was probably around $25-50M AUM before the SNB debacle which made PBs become much more selective with who they conduct business with. Maybe you could get by with less if you do significant amounts of volume...
Thank you very much for your info. Regarding the PoP with 100:1 leverage you can get I would need your further expertise which are the more serious ones. a $250k deposit and $500M volume per month is not the problem. But what I do not like is high margins. So I heard Saxo is not providing 100:1 leverage for, correct ? Second I never heard about ATFX and Bidx, also Finalto I think must be new on the market, correct ? StoneX recently took over GainGTX which I had bad experiences as they never hedged any position and you traded against the broker. Also the kicked off some profitable traders I read. Thanks for the warning against Baxter FX as I was eyeing with them. Velocity is not a single Dealer Platform as I heard or what do you mean as PoP here ? What do you think is best PoP if you want to build very large positions with 100:1 leverage ? FXCM pro or Prime is it ? I also like to be private individual and not creating funds on my own, to keep it as simple as possible. Any thoughts you can tell me here ? Which of your mentioned PoP is doing the most trading volume per month for their clients ? Maybe it is Saxo, but they are not okay for me because they have different Tiers for their margins on Spot FX. This means when I make larger sizes and more volume I get punished with much higher margin requirements. That is a nogo for me. Any PoP you could recommend to me ?
  • #4
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  • Jun 12, 2023 2:24am Jun 12, 2023 2:24am
All of the above are serious players. Some are more well know than others.

Gain GTX was bought by Deutsche B鰎se and integrated into their 360T platform a couple of years ago.

I was referring to Velocity Trade the broker and not Citi's single dealer platform.

They all offer very much the same type of service(s). They will differ some in monthly requirements, commission, and deposit requirements. If you wish to know more then I suggest you give them each a call.

I'd skip Finalto(meh liquidity), Sucden (institutions only), FXCM Prime (institutions only) and check out the rest.

Good luck.
  • #5
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  • Jun 18, 2023 1:34am Jun 18, 2023 1:34am
When seeking brokers with higher leverage options, consider factors such as reputation, trading conditions, execution quality, customer support, their promotions, and the overall suitability of their offerings for your trading strategy. Additionally, carefully review the terms and conditions, fee structures, and risk management policies of any broker you consider to ensure they align with your trading goals and risk tolerance.
  • #6
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  • Last Post: Nov 19, 2025 5:01am Nov 19, 2025 5:01am
Hello. I would like to know if you have found a solution for this problem. I am asking out of curiosity. If someone has a 50-100 millions account to trade with, what broker should he use? I red that Prime Brokerage like Citi, Chase are not accepting individuals. Should you open multiples accounts with some brokerages? What are the maximum lot size on those brokers? Do you know some brokers that have lot size of 1,000 or more?
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