The world’s best institutional FX broker 2026: TP ICAP

TP ICAP made progress during the review period on its institutional FX franchise built on the marriage of human judgement and electronic execution. In a year shaped by geopolitical tension and bouts of sharp volatility, the firm advanced a hybrid model designed to keep its brokers relevant as currency markets grow more automated, fragmented and time zone intensive.

At the centre of its strategy sits Fusion, TP ICAP’s multi-asset electronic trading platform, which supports FX products through a mix of bid-offer, request-for-quote and matching protocols.

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