FXSpotStream (FSS): Best FX & Precious Metals Trading Platform US 2021


FXSpotStream is a market disruptor bent on driving down trading costs. Since its 2011 launch, the bank-owned consortium has operated a market-utility service with a multibank API (application programming interface) and GUI (graphical user interface) for routing FX and precious metals orders between clients and liquidity providers. FSS has invested time and resources to develop and digitalise the systems. Before FSS, traders dealing with individual interfaces from different banks were met with multiple charges to operate their business. The FSS service brings efficiencies to the market, cutting  trading costs for market participants, while at the same time providing for a transparent, bilateral relationship between clients and LPs. FSS has followed a global business model since the beginning, searching for –   and securing –   the calibre of liquidity providers able to handle larger trading volumes and offered cost reductions. From offices in New Jersey, London and Tokyo, the company works with tier-one banks and clients from a variety of financial sectors across the Americas, EMEA and Asia Pacific. FSS  is a lean company that thrives in volatile markets, and its proactive response to the pandemic served it well. Employees swiftly adapted to remote working with zero system failures – even with a record volume of trading supported. Average daily volume (ADV) rose 18.52% from 2019 to 2020, and first quarter ADV for 2021 reached $51.3bn. FSS swaps the “broker mentality” for collective service delivery: relationship management, quality service and market expertise. The CFI.co judges declare FXSpotStream winner of the 2021 award for Best FX & Precious Metals Trading Platform (US).