Best STP Forex Brokers
Compare live Forex trading accounts from STP brokers - including DMA and ECN STP brokers.
easyMarkets is an award-winning international Forex and CFD broker. Unlike most brokers, it allows you to trade spot, forward as well as vanilla option contracts (calls and puts) across a particularly wide range of markets.
- Risk warning: 75% of retail investor accounts lose money when trading CFDs and Options with easyMarkets. You should consider whether you understand how CFDs and Options work and whether you can afford to take the high risk of losing your money.
- Markets: NA
- Platforms: MetaTrader 4, Mirror trading
- Regulators: Australia, CySEC
- Incorporated: 2001
Trade Forex and CFDs on over 10,000 stocks, indices, commodities and currency pairs when you open an IRESS account with FP Markets. FP Markets also supports MetaTrader 4 and 5.
- Markets: NA
- Platforms: MetaTrader 4, MetaTrader 5, Copy trading
- Regulators: Australia, Saint Vincent and the Grenadines
- Incorporated: 2005
LiteForex (LiteForex.com) is an international ECN Forex broker. Trade a wide range of markets on Metatrader 4 or 5. LiteForex accepts a wide range of deposit methods, including Bitcoin, Monero and other cryptos.
- Risk warning: 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Markets: Forex (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
- Platforms: MetaTrader 4, MetaTrader 5, Copy trading, Mirror trading
- Regulators: CySEC
- Incorporated: 2005
HotForex (HotForex.com) is an award winning Forex and commodity broker, providing trading services and platforms to both retail and institutional clients.
- Markets: Forex (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)
- Platforms: MetaTrader 4, MetaTrader 5, Currenex, Copy trading, Mirror trading
- Regulators: CySEC, France, Germany, Mauritius, South Africa, UK
- Incorporated: 2010
Start trading in 40 seconds, with no prior KYC or compliance checks, with PrimeXBT.com. PrimeXBT's trading platform was voted "Best Platform for Margin Trading" in the 2020 ADVFN International Finance Awards.
- Markets: Forex (CFD), Cryptos (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
- Platforms: Copy trading, Mirror trading
- Regulators: None
- Incorporated: 2018
Trade Forex, cryptocurrencies as well as CFDs on stocks, indices and commodities with an STP/ECN broker. EagleFX (EagleFX.com) supports all trading styles and Expert Advisors on MetaTrader 4.
- Markets: Forex (CFD), Cryptos (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
- Platforms: MetaTrader 4
- Regulators: None
- Incorporated: NA
What's an STP broker?
Straight Through Processing (STP) means full integration between all market participants, from liquidity providers to investors and the trading platform. In its purest form, an STP broker aggregate prices in real time from liquidity providers and passes client orders onto them. In practice, this also means there is No Dealing Desk (NDD).
Types of STP brokers
However, Forex brokers tend to apply the term loosely and "STP" can mean different things to different brokers. This article describes common traits and differences between STP brokers and suggests ways to check how your own broker operates.
Number of liquidity providers
STP brokers aggregate prices from banks, financial institutions and other liquidity providers (LPs) in the Forex interbank bank market. The price you see on your end is the best-bid and the best-offer (BBBO) across all quotes. This means the bid could come from Bank A and the ask from Bank B.
STP brokers typically work with more than one liquidity provider. However, circumstances can arise when they only have one. For example, this can happen if you trade with an Introducing Broker.
Fixed or variable spreads
The spread is the difference between the buying and selling price of a currency pair. If you're quoted EUR/USD at 1.2502/05, the spread is 0.0003 or just 3 pips.
STP brokers usually quote variable spreads because the prices they receive from liquidity providers change dynamically over time. The price you're quoted adjusts automatically to reflect the BBBO available from your broker's liquidity providers. Your broker adds his own mark-up to the spread to cover his costs and earn a profit.
However, some brokers can quote fixed spreads instead. This can happen when they have just one liquidity provider. And when they have more, they can achieve this by adjusting the mark-up they apply to the BBBO to ensure that the spreads you see on your end remain the same.
Instant vs. market execution
A regular STP broker fills client orders through instant execution. This means your broker acts as the counterparty to your trades and will hedge these positions with his liquidity providers. This can give rise to re-quotes if your broker has difficulties filling orders at the price you requested. However, instant execution does allow you to enter Stop and Limit Orders at the very same time you open a position, which can help manage your risks.
Other STP brokers offer market execution. When this happens, your broker passes your order directly onto his own liquidity providers. This gives you what is known as Direct Market Access and is one of the purest forms of trading. Liquidity providers will act as the counterparty to your trade and fill your order at the prevailing market price. The downside is that you cannot enter Stop or Limit orders at the time you place an order because the execution price is not known when you click the 'Trade' button.
Is your broker STP?
First, check your broker's website and Order Execution Policy for comments about spreads and execution types. If in doubt, ask your account manager directly.
If your broker offers fixed spreads and instant execution, it's unlikely but not impossible that he delivers Straight Through Processing.
Trade 70+ currency pairs, spot indices, energies, metals and shares on floating spreads and instant ... MoreTrade 70+ currency pairs, spot indices, energies, metals and shares on floating spreads and instant execution. All EAs are allowed.
- $500 deposit
- 1:200 leverage ?
- 1.71 pips EUR/USD
Trade 47 currency pairs, crypto-currencies, popular stocks, indices, gold and silver with eToro. Get... MoreTrade 47 currency pairs, crypto-currencies, popular stocks, indices, gold and silver with eToro. Get free and unlimited access to Forex trading courses and webinars.
- $50 deposit
- 1:30 leverage ?
- 3 pips EUR/USD
Trade Forex as well as CFDs on shares, indices and metals on floating spreads without commission. ... MoreTrade Forex as well as CFDs on shares, indices and metals on floating spreads without commission. This account, designed for experienced traders, allows you to trade up to 60 lots per position.
- $100 deposit
- 1:500 leverage ?
- 1.2 pips EUR/USD
Trade 55 currency pairs on fixed spreads, plus CFDs on crypto-currencies, stocks, indices, bonds and... MoreTrade 55 currency pairs on fixed spreads, plus CFDs on crypto-currencies, stocks, indices, bonds and commodities. AvaTrade accepts all MetaTrader EAs except those with a focus on arbitrage.
- $100 deposit
- 1:400 leverage ?
- 0.6 pips EUR/USD