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A principal market maker offering OTC spot, options, forwards and CFDs by chat and FIX API. It publishes chat trading, streaming and RFQ, credit lines and an FCA registration.
Wintermute scores 2.7 out of 5 (54 out of 100) in the Buckingham Intelligence Crypto Exchange and Liquidity for Businesses Index 2026 and ranks 7 of 12. It is strongest for funds and token projects wanting chat and API liquidity in hundreds of tokens, with 5 out of 5 for execution access. Not published or not stated on the pages read: regulatory standing, pricing, asset and currency coverage, settlement and security.
Scores from the Crypto Exchange and Liquidity for Businesses Index 2026.
| Segment | Score out of 100 | Rank |
|---|---|---|
| For payment and fintech firms | 54 | 7 of 12 |
| For funds and trading firms | 57 | 7 of 12 |
| For corporate treasuries | 50 | 7 of 12 |
The score out of 5 is the overall score out of 100 divided by 20. Leader goes to the top three overall, Best for to the first in each segment, and Top rated for to a score of 5 out of 5 on a criterion. Awards cannot be bought.
Where it scores best, and where to check closely, as shown in each ranking.
Funds and token projects wanting chat and API liquidity in hundreds of tokens.
What Wintermute publishes on its own pages, read on 26 October 2026.
A principal market maker offering OTC spot, options, forwards and CFDs by chat and FIX API. It publishes chat trading, streaming and RFQ, credit lines and an FCA registration. It does not publish spreads, asset or currency counts or security certifications.
| Fact | What the provider publishes |
|---|---|
| Regulatory standing | Wintermute Trading Ltd. "is registered with the UK Financial Conduct Authority for its cryptoasset activities under the Money Laundering, Terrorist Financing and Transfer for Funds (Information on the Payer) Regulations 2017 as amended (FRN:928764)". Other licences not listed on the pages read. |
| Pricing | "Tightest spreads, no fees or commission"; spreads not published. |
| Asset and currency coverage | "Hundreds of digital assets available, including stablecoins, multiple fiat, and crypto cross-pairs"; no counts published. |
| Execution access | Chat trading "on Telegram, Bloomberg IB, or Slack"; "Industry-standard FIX API" with "Market data streaming and RFQ"; algorithmic TWAP execution; "Global 24/7/365 access and support". |
| Settlement | "Flexible, no-fee settlement"; "Capital efficient trading via credit lines". Payment rails not named. |
| Security | No SOC or ISO certification published; the spot page describes a "financially audited counterparty". |
| Date read | 26 October 2026 |
A fact that is not published is scored as not offered or, for a fee, as if it were high. It is never estimated.
Facts read on 26 October 2026 from: wintermute.com/otc, wintermute.com/otc/spot, wintermute.com/api.
Each score with the evidence behind it.
Each criterion is scored 0 to 5 against the best published offer in the Crypto Exchange and Liquidity for Businesses Index. 0 means not offered or not published. How it is scored
The other providers in the same ranking, ordered by score.
| Provider | Score out of 5 | Rank | Strongest for |
|---|---|---|---|
| Kraken | 4.5 | 1 of 12 | Businesses wanting exchange, OTC and API access with a full published fee table |
| Zerohash | 3.3 | 2 of 12 | Payment firms and fintechs embedding crypto buy, sell and payouts |
| Coinbase Prime | 3.2 | 3 of 12 | Funds and corporates wanting trading, financing and custody in one account |
| FalconX | 3.1 | 4 of 12 | Funds and fintechs needing wide token and fiat coverage through one counterparty |
| OSL | 2.9 | 5 of 12 | Asian and European businesses converting between stablecoins and fiat |
| B2C2 | 2.9 | 6 of 12 | Exchanges, brokers and fintechs wanting streaming prices without pre-funding |
| GSR | 2.5 | 8 of 12 | Treasuries and funds trading large blocks across many fiat currencies |
| Enigma Securities | 2.5 | 9 of 12 | UK and European firms wanting voice, chat and API execution |
| Galaxy | 1.9 | 10 of 12 | US institutions wanting OTC trading alongside lending and derivatives |
| LMAX Digital | 1.8 | 11 of 12 | Banks and brokers wanting a regulated venue with a published instrument list |
| Keyrock | 0.9 | 12 of 12 | Crypto platforms and token projects wanting a single OTC counterparty |
Full Crypto Exchange and Liquidity for Businesses Index ranking
Side by side on every criterion, fact and award.
Head-to-head comparisons cover pairs within the top five of each ranking. Wintermute is compared with its alternatives in the table above.
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