What Account Types and Fees Does Citadel Securities Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Prime Broker Account |
Clients requiring comprehensive trading services |
Access to market access, clearing, and financing |
Suitable for institutional clients |
| Equity Market Maker Program |
Firms aspiring to become market makers |
Specialized support for market-making activities |
Focused on U.S. equities |
| Fixed Income Market Maker Program |
Firms interested in fixed income securities |
Facilitates trading in the fixed income market |
Requires expertise in fixed income |
| Program Trading Account |
Clients executing large orders |
Assists in managing significant securities orders |
Designed for coordinated trading |
| Prop Trading Account |
Independent traders using personal capital |
Empowers independent trading decisions |
Utilizes client’s own funds |
| Specialist Account |
Clients trading for other investors |
Enables intermediaries to execute trades |
Requires client representation |
Account Opening Process
Opening an account with Citadel Securities involves several straightforward steps. First, prospective clients need to choose the appropriate account type that suits their trading needs. Next, they should complete the application by filling out the necessary forms, which include providing personal, employment, and financial information. Identity verification is a crucial part of the process, requiring clients to submit identification documents and proof of address. After submission, Citadel Securities will review and verify the provided information. Once approved, clients can fund their accounts and commence trading. It’s also important to note that clients have the flexibility to upgrade to a professional account in the future if their trading needs change.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
Varies |
$0 |
Tight spreads for major pairs |
| CFDs (Stocks, Indices, Commodities) |
Varies |
Varies |
Commission may apply based on asset |
| Cryptocurrencies |
Varies |
Varies |
Dependent on market conditions |
Other Fees
Citadel Securities has several other fees to be aware of. Deposit and withdrawal fees depend on the method used. For wire transfers, there is a high minimum deposit and withdrawal requirement, while ACH transfers have no minimums. Credit card deposits incur a 3.5% fee. Inactivity fees may apply if accounts remain dormant for extended periods. Additionally, clients should consider any overnight interest (swap rates) that may be charged on open positions and potential currency conversion fees when trading in different currencies.
