Foreign currency exchange: The world’s top 10 foreign currency exchange companies

January 17th, 2013

Best Exchange Rates UK take a look at the world’s top 10 foreign currency exchange companies. Who are the biggest players when it comes to exchanging foreign currency?

First place: Deutsche Bank, the German banking institution, is the world’s number one largest foreign currency exchange institution in the world. Deutsche Banks main clientele are institutions and corporate companies and mainly in sales and transactional banking.

Second place: Another top player is Barclays Capital which is the investment arm of Barclays Plc. Again it primarily serves large corporations and institutions and also serves and supports EU governments and Americas Treasury securities.

Third place: Swiss based financial services company UBS, who offer their services to private companies across the world, serving all the major financial capitals.

Forth place: Citigroup Inc, a New York based financier is the fourth largest foreign currency exchange company in the world but actually has the world’s largest financial services network. Before the economic down turn in 2008, Citigroup was considered the largest bank in the world based on its total net assets.

Fifth place: US company, JP Morgan Chase, a relatively new company formed back in 2000, the result of a merger between J.P. Morgan & Co and Chase Manhattan Corporation. The company mainly trade in retail and securities as well as offering investment services.

Sixth place: This goes to the well-known HSBC, commonly known as the world’s local bank, which happens to be the world’s second biggest banking and financial services group. HSBC serve over 80 countries across the globe, predominantly covering theAmericas, Europe andAsia.

Seventh place: The Royal Bank of England Plc scoops seventh place, it mainly serves theUnited Kingdomand has a subsidiary –  the Royal Bank of Scotland Group Plc. Combined these banking institutions have over 700 branches.

Eighth place: Credit Suisse of Switzerland. This is the second of Switzerland’s top 10 foreign currency exchange companies. Predominantly serving its home country, with around 240 Swiss based branches, Credit Suisse also has a presence in nearly fifty countries worldwide.

Ninth & Tenth place: These go to two American companies – Goldman Sachs and Morgan Stanley. Goldman Sachs covers mergers and acquisitions, ranging from governments and corporations to individuals. Its rival Morgan Stanley mainly focus on securities, investment and global wealth management.

As you would expect, most of the top 10 foreign currency exchange companies are major banking institutions. The top 10 companies covered in this article account for nearly 80% of the global currency exchange market.