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.
I do not know the answer to your question, but I find the term "Yard" interesting. I have been in the business since 1981 and never heard that term until I had lunch with member sle. He referred to his allocations in "Yards". I had to admit to him, I had no idea what that meant, and then he told a yard is $1billion. I assume you have either worked at a large bank or hedge fund if you are using that term. Retail and most smaller hedge funds refer to millions vs yards.
"yards" is a very foreign exchange and fixed income centric term. Its not used in the equity world, at least has not when I worked professionally.
According to this article on the Motley Fool, published in February 2023, the entry point for a prime brokerage account is $500K. Some brokers have a much higher minimum. https://www.fool.com/the-ascent/buying-stocks/prime-brokerage-agreement/