Quote from whoknows?:
The Tier 1 PB's (UBS, BofA, Bear, Goldman, Deutsche, Barclays, etc) will all require large deposits to be your PB. At least the ones I know will want AT LEAST $5 million, but for the big names think $20 million or more.
The White Labels that are Tier 2 (a) are MAN, FC Stone, FIMAT, Capital Forex, PFG, and maybe more but I don't know.
FIMAT wants at least $3 million, FC Stone near $1 million.
I use PFG, who I am thrilled with, I must say. I have no affiliation, other than the fact that I use them for CX access. Liquidity is huge, typically $40 million a side in most currencies, even in off-hours. Speed is great. Service great. Prices are good, and spreads are typically 1 pip, even in AUD, CAD, and NZD.
Tier 2 (b) are FXCM, and maybe GFT but I am not sure. I tried FXCMPRO. That's all I will say here. Even GFT wants $1 million, otherwise they want you to use their Deal Station retail platform.
There is a new exception to the Tier 1 PB's however, and that is Barclay's Capital. I am talking with them now. Barclays is huge, and their typical PB relationship they want $20 million or more, but they would PB for currency only with $1 million, giving 30x buying power. That's pretty amazing considering the sheer size of them. I have been checking them out, and they are consistently showing $200 million on each side with half or 1 pip spreads in the majors. Again, I have no affiliation, it's just after talking, then meeting with them, I have never been so impressed.
I will update on the Barclays situation as I get more info, but for now I am very happy with PFG. I think they will open a CX currency account for $25 - 50,000. PM me if you want a contact or need more info.
I dont want to suggest any one of them .