Best Liquidity Providers for Brokers in 2025 – Compared for Spreads, Execution & Platforms

The best liquidity providers for brokers in 2025 include B2Broker, LMAX Global, Finalto, IS Prime, and Advanced Markets. These institutional LPs combine tight spreads, deep multi-asset liquidity, and robust regulation, making them suitable for brokers ranging from new FX/crypto startups to established institutional firms.

For any brokerage, choosing the right liquidity provider is now a strategic decision, not just a technical one. The LP you work with directly influences how tight and stable your spreads are, how often clients experience slippage or re-quotes, whether you can support multi-asset trading across forex, crypto, indices, commodities, and CFDs, and your ability to meet regulatory and best-execution expectations.

In an environment of higher market volatility and stricter oversight, brokers need reliable, well-regulated liquidity providers that can deliver fast execution, robust connectivity (FIX, MT4/MT5 bridges), and flexible pricing models. This guide compares some of the best liquidity providers for brokers in 2025, explains how liquidity provision works, and outlines the key criteria to use when assessing potential partners.

What Is a Liquidity Provider and Why Do Brokers Need One?

A liquidity provider (LP) is an institutional firm, such as a bank, non-bank market maker or Prime of Prime broker Prime Broker Prime brokers are the designation given to individuals handling a package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return.There are two types of prime brokers - bank and non-bank corporations. Traditionally major global investment banks have been the predominant players in the space, however recent years have p Prime brokers are the designation given to individuals handling a package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return.There are two types of prime brokers - bank and non-bank corporations. Traditionally major global investment banks have been the predominant players in the space, however recent years have p Read this Term that continuously quotes bid and ask prices and stands ready to buy or sell at those prices. In practice, forex liquidity providers and multi-asset LPs supply the tradable prices and market depth that brokers stream to clients on platforms like MT4, MT5 or custom terminals.

For forex, crypto and multi-asset brokers, reliable institutional liquidity is what allows clients to open and close positions quickly, in meaningful trade sizes and at competitive prices. Key concepts include the bid (sell price), ask (buy price) and spread (the difference between them, which drives trading costs), as well as depth of liquidity and slippage, which describe how much volume is available at each level and how closely trades are filled to the requested price.

Leading liquidity providers for brokers aggregate prices from multiple Tier-1 banks, non-bank market makers and exchanges. This aggregated liquidity helps brokers deliver tighter, more stable spreads, reduce slippage and improve overall execution quality across FX, metals, indices, commodities, crypto and CFDs.

Brokers rely on these providers not only for pricing, but also for execution reliability, multi-asset coverage, regulatory alignment and scalability. In that sense, an LP is less a simple price feed and more a strategic partner shaping the broker’s pricing, risk profile and client experience.

How to Choose a Liquidity Provider in 2025

In 2025, the best liquidity providers for brokers combine strong regulation, institutional-grade technology and broad multi-asset liquidity. The LP you choose should match your business model (STP, ECN, market maker, hybrid) and support long-term growth rather than just current volumes.

Regulation is the starting point. Brokers typically look for LPs authorised in major financial centres such as the FCA, ASIC, CySEC, DFSA, CIMA or FSA, as this supports better governance, capital standards, segregation of client funds and best-execution frameworks. Technology comes next: institutional FIX API access and robust MT4/MT5 bridge connectivity are critical for low-latency routing, custom integrations and a smooth experience for retail and professional clients.

Product range is another key filter. Leading multi-asset liquidity providers Liquidity Providers A liquidity provider (LP) constitutes an individual and/or an institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profit on A liquidity provider (LP) constitutes an individual and/or an institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profit on Read this Term offer major and minor FX pairs, metals, indices, commodities, energies, single-stock and index CFDs, and crypto from a single connection, allowing brokers to broaden their offering without juggling multiple vendors. At the same time, brokers should assess spreads, commissions, swaps and mark-ups in both normal and volatile markets to ensure pricing is tight, consistent and transparent.

Finally, top Tier-1 liquidity providers and Prime of Prime firms distinguish themselves through aggregated pricing, execution quality and support. This includes direct relationships with Tier-1 and non-bank LPs, advanced aggregation technology, clear reporting on fills and “last look”, responsive 24/5 or 24/7 support, and risk management tools such as hedging options, margin and exposure monitoring, and flexible routing rules. Together, these factors help brokers identify the best liquidity providers 2025 for their specific client base and regulatory obligations.

Top Liquidity Providers for Brokers in 2025

There are many liquidity providers for brokers, but a small group of firms is frequently selected for their regulation, technology stack, and multi-asset coverage. In 2025, brokers often consider providers such as:

B2Broker: multi-asset, FX and crypto-focused infrastructure

LMAX Global: exchange-style FX and metals venue with central limit order book

Finalto: institutional multi-asset liquidity and risk solutions

IS Prime: low-latency Prime of Prime for high-volume flows

Advanced Markets: institutional-grade Prime of Prime for banks, funds, and brokers

Below are more detailed overviews of four of these providers. Finalto is included later in the comparison table as a key multi-asset liquidity provider.

B2BROKER

B2BROKER is a global fintech solutions provider delivering liquidity, trading technology, payment solutions, and brokerage infrastructure for financial institutions. Founded in 2014, it operates through regulated entities in multiple jurisdictions and maintains key hubs in London, Limassol, Hong Kong, and Dubai, serving brokers, exchanges, hedge funds, and proprietary trading firms across Europe, the Middle East, and Asia.

Its ecosystem includes B2CORE (CRM and back office), B2COPY (copy trading, PAMM and MAM in one system) B2TRADER (a multi-asset trading platform), B2CONNECT (crypto liquidity bridge) alongside white label & turnkey solutions and integrated institutional liquidity with deep pools and low-latency execution.

LMAX Global

LMAX Global is regulated by UK (FCA), Europe (CySec), New Zealand and Mauritius, and gives brokers access to LMAX Exchange (FCA-regulated MTF and MAS-regulated RMO) and LMAX Digital (GFSC-regulated for execution and custody services) venues with a central limit order book (CLOB) for FX, crypto, metals, equity indices, commodities, perpetual futures and crypto CFDs. The venue model focuses on firm liquidity, transparent pricing and defined execution policies, matching orders on a price/time priority basis. LMAX Global concentrates on deep institutional liquidity, offers connectivity via FIX API and MT4/MT5 bridges, and is often used by brokers that want a clear separation between their brokerage and an external execution venue

Finalto

Finalto is a global multi-asset liquidity and prime brokerage provider operating several regulated entities in key financial centres. It offers institutional liquidity across FX, indices, commodities and selected crypto instruments, typically through bespoke liquidity pools and a single margin account. Finalto combines execution, risk management and technology services, integrating via APIs and FIX into platforms such as MT4/MT5 and institutional trading hubs, which makes it a common choice for multi-asset and institutional brokers that require tailored liquidity and risk solutions.

IS Prime

IS Prime, part of the ISAM Capital Markets group, is an FCA-regulated Prime of Prime provider specialising in low-latency execution and configurable liquidity pools. It aggregates pricing from Tier-1 banks and non-bank market makers, with a strong focus on FX, precious metals and index products for high-volume and latency-sensitive trading. The firm combines a proprietary pricing engine, analytics tools and connectivity via FIX and bridge solutions into common retail platforms, making it relevant for brokers serving professional, active or algorithmic traders.

Advanced Markets

Advanced Markets is an established Prime of Prime and direct market access (DMA) provider that delivers institutional-grade liquidity to banks, hedge funds, asset managers and brokers. Its offering emphasises deep liquidity in FX, metals, energies and CFDs, sourced from Tier-1 banks, non-banks and ECNs, and is supported by entities authorised in key jurisdictions. With FIX API, MT4/MT5 integration and infrastructure in major data centres, Advanced Markets is typically selected by institutional and high-volume brokers that prioritise market depth, credit solutions and robust trading infrastructure.

Comparison Table: Best Liquidity Providers 2025

Below is a high-level comparison of some of the best liquidity providers for brokers in 2025, based on regulation, asset coverage, platform integration and typical broker profile.

*Regulation summary is simplified and based on publicly available group information; brokers should always verify the latest licences and permissions directly with each provider and relevant regulators.

• Trust, Flexibility and Net Open Position Limit: How to Choose a Liquidity Provider
• DMALINK Joins LiquidityFinder, Appoints Manu Choudhary as CEO
• Itexsys Confirms Liquidity Provider Partnership with Swissquote

Frequently Asked Questions

What is a liquidity provider in forex trading?

A liquidity provider in forex trading is an institutional firm (such as a bank, non-bank market maker, ECN, or Prime of Prime broker) that continuously quotes bid and ask prices and stands ready to buy or sell at those prices. Brokers connect to one or more forex liquidity providers to obtain tradable prices and market depth, then stream this liquidity to their end clients via platforms like MT4/MT5 or proprietary systems.

Who are the top liquidity providers in 2025?

There is no single “best” LP for all brokers, but in 2025 many firms look at well-established, regulated providers with institutional infrastructure and multi-asset coverage. Examples commonly considered include B2Broker, LMAX Global, Finalto, IS Prime, and Advanced Markets, along with other regional or specialist providers. The right choice depends on the broker’s target clients, volumes, products (FX, CFDs, crypto), and regulatory requirements.

How do liquidity providers affect a broker’s pricing?

Liquidity providers directly influence:

Spreads: how tight or wide the bid/ask prices are

Depth: how much volume is available at each price level

Slippage: how closely trades are filled to the requested price, especially in fast markets

If a broker connects to high-quality institutional liquidity providers for brokers with deep, stable order books, they are more likely to offer tighter, more consistent pricing and better fills. Conversely, poor-quality or shallow liquidity can lead to wider spreads, more re-quotes, and higher slippage for clients.

What’s the difference between aggregated and direct LPs?

• Direct LPs
  A broker connects to a single liquidity provider, such as a particular bank or venue. Pricing and depth come from that one source.
• Aggregated liquidity providers
  An aggregator combines price feeds from multiple Tier-1 banks, non-bank market makers, ECNs, and venues, then streams a consolidated best bid/offer and depth-of-book to the broker.

Aggregated liquidity can provide tighter spreads and more depth, especially for higher volumes, because it draws on several sources. Direct relationships can be useful for specific products or venues but may offer less flexibility if market conditions change.

Are there LPs that specialise in crypto liquidity?

Yes. Alongside traditional forex liquidity providers, there are crypto liquidity providers and multi-asset liquidity providers that focus heavily on:

• Crypto–fiat and crypto–crypto pairs
• Spot and derivative structures (CFDs, perpetuals)
• 24/7 trading infrastructure and risk management

Some multi-asset LPs offer both FX and crypto liquidity through a single margin account and API, while others focus almost exclusively on digital assets and connectivity to crypto exchanges.

Can small brokers work with Tier-1 liquidity providers?

Direct relationships with Tier-1 banks usually require substantial capital, volumes, and infrastructure, so most small or mid-sized brokers do not access Tier-1 liquidity directly. Instead, they work with Prime of Prime or institutional LPs that already have Tier-1 relationships and redistribute this liquidity on a wholesale basis.

This model lets smaller brokers access institutional-grade pricing via a Prime of Prime or multi-asset LP, without needing their own prime broker lines or very large balances.

How do I integrate LP feeds into MetaTrader?

To connect liquidity providers to MetaTrader (MT4/MT5), brokers typically:

1. Select an LP and integration model
   Choose a liquidity provider that supports MT4/MT5 bridges and/or FIX API connections.
2. Use a bridge or gateway
   A bridge/gateway connects the LP’s pricing and execution engine (often via FIX) to the MetaTrader server, routing quotes in and orders out.
3. Configure symbols and routing rules
   Map instruments (symbol names, contract sizes, tick values), set mark-ups/spreads, and configure routing rules (A-book/B-book, aggregation, depth).
4. Test in a demo/staging environment
   Validate prices, execution, slippage behaviour and reporting before going live.
5. Monitor and optimise
   Use trade reports and analytics from both the LP and MetaTrader to fine-tune mark-ups, risk settings, and routing over time.

Most best liquidity providers 2025 offer documentation, technical support and test environments specifically for MT4/MT5, making it easier for brokers to implement and maintain the integration.