How do you verify if its a real Prime of Prime?

Prime of Prime in the FX space is basically a broker that does not have a Prime Brokerage relationship themselves. So they establish a relationship with another broker who does have a Prime Brokerage relationship and send their order flow to them.

Prime of Prime brokers are considered Tier 2 /3 brokers. Essentially any broker that doesnt have a balance sheet of at least $50 million, but does have decent amounts of order flow would look to go the Prime of Prime route.

Tier 1 brokers like, FXCM, , Oanda, Saxo, IG Markets all have balance sheets large enough and thus have direct PB relationships.

Tier 2 brokers (Prime of Primes) will send their order flow to those places, thus the term Prime of Prime.

This definition is not really correct. Prime of Prime is the one that does have a relationship with Tier 1 Prime Broker. Names you put as Tier 1 brokers, are the ones that are just big retail brokers that may have a relationship with Prime Broker, however, most of them will not send trades to the banks for execution but would rather keep it on their own books and make money from warehousing the risk. They would typically only utilize their PB relationship to hedge excess risk and receive pricing. Prime of Primes do not hedge with the likes of FXCM or Oanda, these are retail brokers. PoP hedges with interbank dealers like banks

Prime of Prime is a brokerage entity that has a Prime Brokerage relationship with Tier 1 Prime Broker (typically, a top tier bank like UBS, RBS, Barclays). Capital requirement to open Tier 1 Prime Broker account is ranging starting at approximately 20 mln USD (+ other requirements). Therefore, only a few FX retail brokers have access to Tier 1 PB. They would go to Prime of Prime therefore to get liquidity from interbank market. Here is a good overview:

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