Asia Awards 2025: The winners

FX Markets is delighted to announce the winners of the Asia Awards 2025.

The eighth edition of the FX Markets Asia Awards recognises and showcases the best banks, trading platforms and technology providers in the Asia-Pacific region (Apac).

The awards recognise the firms that have proven themselves in FX trading, whether that’s as a liquidity provider in local markets, prime brokerage and overlay provider; algo builder; trading venue; software provider; or data vendor. 

This year’s awards spanned more than 28 categories and attracted 92 entrants from a wide range of participants, with the winners being announced in Singapore. 

Among the highlights, HSBC picked up nine wins, including four in the liquidity provider local market categories – China, Hong Kong, India and Singapore – as well as overall FX house of the year Apac. Deutsche Bank landed two awards for South Korea and overall FX house of the year ASEAN, while UBS also secured two for the best Asia FX spot house and best FX single-dealer platform for Asian currencies. 

Bank of America scooped its first Asia award for best Asia FX options house, as did Credit Agricole for best Asia NDF house and Wells Fargo for FX house of the year G10 (Asian hours). ANZ, MUFG, OCBC Bank and State Street TradeNexus were also awarded.

HSBC also secured best FX overlay manager for Asia clients, best Asia FX forwards and swaps house, best LP for Asia bank clients and best FX algo provider for Asia currencies. NatWest won best FX prime broker for Asia and, in a new category for 2025, State Street Currency Management won best FX hedging initiative. 

In the venue and technology categories, Bloomberg, SGX FX, 360T, smartTrade Technologies and oneZero were also winners.

Choosing winners is never an easy task. Entrants submitted written pitches and the final decisions were made by a panel of judges, which included FX Markets’ editors, weighing a number of factors including strategic clarity, growth, risk management discipline, innovation and adaptability, thought leadership, as well as a commitment to investing in the business. If decisions were tight, client feedback helped settle the issue. Judges were not allowed to contribute to categories where there may be conflicts of interest. 

Congratulations to our winners and thank you to all who entered this year’s awards.

FX house of the year
Australia
ANZ

FX house of the year
China
HSBC

FX house of the year
Hong Kong
HSBC

FX house of the year
India
HSBC

FX house of the year
Japan
MUFG

FX house of the year
Singapore
HSBC

FX house of the year
South Korea
Deutsche Bank

FX house of the year
G10 (Asia hours)
Wells Fargo

Overall FX house of the year
ASEAN (Malaysia, Indonesia, Philippines, Thailand, Vietnam)
Deutsche Bank

Overall FX house of the year
Asia-Pacific
HSBC

Best Asia FX spot house
UBS

Best Asia FX forwards and swaps house
HSBC

Best Asia FX options house
Bank of America

Best Asia non-deliverable forwards house
Crédit Agricole CIB

Best LP for Asia
Regional and private banks
HSBC

Best Asia multi-dealer FX trading venue
Bloomberg

Best Asia FX derivatives exchange
SGX FX

Best Asia FX trading venue for retail clients
OCBC Bank

Best FX algo provider for Asia currencies
HSBC

Best single-dealer platform for Asia currencies
UBS

Best FX prime broker for Asia
NatWest

Best FX hedging initiative
State Street Currency Management

Best FX overlay manager for Asia clients
HSBC

Best FX EMS for Asia currencies
360t

Best FX liquidity aggregator for Asia currencies
smartTrade Technologies

Best regional connectivity, hosting and colocation service
smartTrade Technologies

Best FX market data and analytics provider for Asia currencies
oneZero