Further to an exclusive report by LeapRate in October this year, FxPro Financial Services Ltd (FxPro) has launched FxPro Prime, a prime-of-prime offering that will leverage its pool of multiple stream tier one FX liquidity and open it up to institutional businesses.
FxPro has built its Prime Brokerage operation around its recent acquisition of FX liquidity aggregator Quotix.
Other leading retail FX brokers which have gotten into the liquidity provision business include Saxo Bank, FXCM, ETX Capital and most recently Australia’s AxiTrader. In addition, other established providers of prime brokerage services to the FX sector include Citadel, TopFX, and a number of large commercial banks.
FxPro’s retail clients already benefit from very deep FX liquidity, with low dealing costs and reliable trade execution on the MT4 and cTrader platforms. Now, with plans to add more liquidity providers (LPs) on top of the existing LPs, small to medium sized institutions will be able to benefit in the same way and make considerable cost savings on their FX trade execution.
Charalambos Psimolophitis, FxPro CEO stated:
“For small to medium sized institutions that are looking to save costs on their spot FX execution, FxPro Prime not only offers this, but it is also a solution that removes the need to establish relationships with one or more top tier banks where credit facilities have been contracting. We are very excited about entering the prime-of-prime market with our outstanding liquidity and low cost offering as we feel it is a part of the FX industry that has considerable growth potential.”
With FxPro Prime institutional clients can take advantage of FxPro’s well established relationships with its prime broker and LPs. The service not only offers prime brokerage and central single margin account clearing solutions with advanced real-time reporting, but it is fast and simple for clients to connect to FxPro’s liquidity via API or the advanced bridge technology.