Citi and Goldman Break Into Retail FX
by Trader Rich
Citi has been in the retail FX market for a couple of months now but it signals a continuing trend of big financial institutions trying to get a piece of our forex action. Deutsche Bank was the first big bank to get in a couple of years ago (from what I remember) but it’s interesting to note that all these big banks did was partner with the bigger forex firms. They blew up the sub-prime mortgage business, will they do the same to Forex?
Here are the notable partnerships between big banks and forex specific firms:
Deutsche Bank is partnered with FXCM.
ABN Amro and UBS are partnered with Oanda.
Citi is partnered with Saxo Bank.
Goldman is partnered with CMC Markets.