JP Morgan triumphs at 2018 FX Week Best Banks Awards

US dealer keeps its top place, after taking the crown from Citi in 2017

At the 2018 FX Week Best Banks Awards, JP Morgan has been voted first, followed by Citi and HSBC in third

JP Morgan has been crowned the Best Bank Overall for Foreign Exchange Dealing at the 2018 FX Week Best Banks Awards, topping the rankings for the second consecutive year and pushing Citi into the runner-up position.

HSBC assumed third place from Deutsche Bank and bagged wins in three categories, including Best Bank for Renminbi. The German dealer slipped to fourth place with one award, Best Bank for FX in the Eurozone.

The FX Week Best Banks Awards asks banks, corporates and investors to vote for their favourite counterparties across 41 categories, covering geographies, products, currency pairs and technology. JP Morgan picked up nine awards this year, adding three more wins to its tally compared with last year.

As well as topping the overall rankings, JP Morgan has been voted the winner of these eight categories: Best Bank for FX for Banks; Best Bank for FX for Investors; Best Bank for Spot FX; Best Bank for FX forwards; Best Bank for EUR/USD; Best Bank for USD/JPY; Best Bank for EUR/JPY; and Best Bank for e-Trading.

The question of scale has really become an issue in FX this year
Chi Nzelu, JP Morgan
Chi Nzelu - JP Morgan
Chi Nzelu

“The question of scale has really become an issue in FX this year. Infrastructure costs are continuing to rise, fragmentation shows no signs of abating and spreads remain extremely competitive to the point where we have seen compression in some markets,” says Chi Nzelu, head of CEM automated trading strategies at JP Morgan.

FX distribution may not be particularly expensive compared with some other asset classes; however, in today’s world, offering a complete suite of market-making services and algorithmic products does require scale and an efficient customer franchise to sustain the recurring investments,” Nzelu adds.

Citi slipped to second place in 2017, for the first time since 2012, having ruled the roost for four years from 2013. Still, the bank increased the number of its awards to seven, picking up Best Bank for FX for Corporates, Best Bank for FX in North America, and Best Bank for FX Prime Brokerage, among others.


Interviews with the 2018 FX Week Best Banks Awards winners


JP Morgan

Best Bank Overall for Foreign Exchange Dealing

Best Bank for FX for Banks

Best Bank for FX for Investors

Best Bank for Spot FX

Best Bank for FX Forwards

Best Bank for EUR/USD

Best Bank for USD/JPY

Best Bank for EUR/JPY

Best Bank for E-Trading



Best Bank for FX for Corporates

Best Bank for Currency Options

Best Bank for Structured Products

Best Bank for FX Prime Brokerage

Best Bank for FX in North America

Best Bank for Emerging European, Middle Eastern and African Currencies

Best Bank for FX Research and Strategy



Best Bank for FX in Asia-Pacific

Best Bank for Renminbi

Best Bank for Emerging Asian Currencies


Deutsche Bank

Best Bank for FX in the Eurozone



Best Bank for Australian Dollar



Best Bank for GBP/USD

Best Bank for EUR/GBP

Best Bank for FX in London



Best Bank for Swiss Franc


NatWest Markets

Best Bank for FX Post-Trade Services



Best Professional e-Trading Venue

Best Vendor for Dealing Technology



Best Broker for Forward FX

Best Broker for Emerging Markets FX



Best FX Clearing House



Best Broker for Spot FX



Best Market Data Provider for FX


Danske Bank

Best Bank for Scandinavian Currencies


Standard Bank

Best Bank for South African Rand

Best Bank for African Currencies excluding ZAR


BMO Capital Markets

Best Bank for Canadian Dollar


Banco Santander

Best Bank for Emerging Latin American Currencies



Best Vendor for Risk Management/Options Pricing Software


Saxo Bank

Best Prime-of-Prime House


BGC (no interview)

Best Broker for Currency Options

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Asia FX Awards 2024: The winners

The FX Markets Asia FX Awards present 43 categories, determined by an esteemed judging panel comprising industry experts and FX professionals across Apac. They have paid attention to firms that brought unique and innovative ways to fulfil industry needs…

HSBC wins six Apac FX house of the year awards

With one of the strongest footprints in the Asia-Pacific region (Apac), HSBC provides international clients with an extensive local FX franchise while facilitating local clients’ access to international markets

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: