The world’s best FX institutional broker 2025: TP ICAP Group

TP ICAP Group has reinforced its position as the leading institutional broker in foreign exchange, building on its 2024 success to once again take the top broker spot. Combining scale, market expertise and an innovative hybrid model, the firm continues to define standards in liquidity provision, price discovery and client service. 

TP ICAP is the world’s largest interdealer broker, connecting global banks and financial institutions across FX, rates, credit, money markets and equities.

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