USD per million
Commission on notional, plus the spread on the stream you select: core, raw, or firm. No separate data tax on the standard feed.
Institutional terms
Liquidity priced like a dealing book
Commission on notional, spreads you can reconcile, and a short extras list. We do not sell a monthly SaaS seat, and we do not print “0.0 pips” when the book is not 0.0.
FX from
$3.50 / $1M
EUR/USD typical
0.15 pip
Connectivity
FIX 4.4 · MT5
How the commercial works
The same three lines a prime-of-prime puts on a term sheet.
Quoted in basis points
BTC and ETH are tighter; alts follow venue depth. Weekend books are wider. We do not hide that in the marketing row.
Collateral, then flow
KYC first. Collateral or a credit line after review. Connectivity is included at plan minimum; below that, a small line fee.
Indicative for new brokerage relationships. Final terms follow licence, pairs, and live volume.
Relationship tiers
Chosen by monthly notional and how you connect — not by a round marketing number.
Broker Access
Licensed brokers building flow
$12
per $1M FX notional
- From $5M monthly FX notional
- 28 FX pairs + XAU/USD
- Typical EUR/USD ~0.3 pip on core
- MT4/MT5 bridge and REST
- Collateral from $25,000
- Desk 08:00–18:00 London
Prime of Prime
Active retail and hybrid books
$7
per $1M FX notional
- From $50M monthly FX notional
- 60+ FX, metals, core indices, top crypto
- Typical EUR/USD ~0.15 pip aggregated
- FIX 4.4, WebSocket, MT4/5, cTrader
- Collateral from $75,000 or credit
- Named manager · FX 24/5 · crypto 24/7
Institutional
Prop, multi-entity, high notional
$3.50
from, per $1M FX · or custom
- Typically $400M+ monthly, or credit-led
- Full FX, metals, indices, crypto universe
- Raw, last-look, and firm liquidity
- Multi-prime, LD4/NY4 cross-connects
- Credit intermediation after risk approval
- White-label and segregated risk books
Indicative FX commission
Estimate from monthly FX notional. Spread cost is separate and follows the pairs you actually trade.
Monthly FX notional
Move the band. The rate steps down with sustained volume — the same schedule as the table below.
$5M
$500M+
Band Prime of Prime
Rate $7 / $1M
Estimated commission
$350
Per month, FX notional only. Not a platform subscription.
Typical spreads, not marketing floors
London–New York overlap on the Prime of Prime aggregated book. News and thin sessions are wider. A one-month tick sample is available on request.
FX & metals
TYPICAL · POPCore includes a small markup. Raw is tighter with the commission above. Figures are typical, not guaranteed.
EUR/USDMajor0.15 pip
GBP/USDMajor0.30 pip
USD/JPYMajor0.20 pip
AUD/USDMajor0.25 pip
XAU/USDMetal$0.18
Crypto
ALL-IN BPSSpot or CFD depending on entity. Depth follows the venues we aggregate; we do not invent size that is not there.
BTC/USDCore4 bps
ETH/USDCore6 bps
SOL/USDMajor10 bps
XRP/USDMajor12 bps
Other majorsBook12–25 bps
Included — and only if you use it
If it is not on this list, it does not appear on the month-end invoice.
Included when you are live
- KYC onboarding and standard legal pack
- UAT / demo matching production symbols
- Market data on connected symbols
- Exposure, reject, and kill-switch controls
- Daily confirms and monthly volume statement
- One go-live session for your dealing desk
Optional
Connectivity below plan minimumWaived after two months at minimum notional
$1,250 / mo
Equinix LD4 / NY4 cross-connectYour rack plus the meet-me
from $800 / mo
Custom FIX mapping / bridgeStandard MT4/5 and cTrader included
from $2,500
Extra dealing workshopsAfter the included go-live session
$180 / hour
FX commission schedule
The rate falls with sustained notional. There is no second “volume discount” stacked on this table.
| Monthly FX notional | Commission | Typical relationship |
|---|---|---|
| $5–50M | $12 / $1M | Broker Access |
| $50–100M | $7 / $1M | Prime of Prime |
| $100–400M | $5 / $1M | Prime of Prime |
| $400M+ | $3.50 / $1M | Institutional |
Swaps are interbank points plus a disclosed markup. Wires pass through at cost. No inactivity fee if the relationship is closed cleanly.
Ask for a term sheet, not a brochure
Send licence, expected pairs, and monthly notional. We reply with a stream sample, collateral range, and written commission — or we decline if we cannot cover you properly.