Best STP Forex Brokers
Compare live Forex trading accounts from STP brokers - including DMA and ECN STP brokers.
Best brokers
- FP Markets
Best FX Broker Australia 2021 - LiteFinance Best Forex Broker Africa, 2011
- PrimeXBT Best Platform for Margin Trading, 2020 - ADVFN
- OctaFX Best Forex Broker India, 2021
- EagleFX Best ECN/STP Broker 2020
Broker reviews
FP Markets is a true ECN broker with razor-thin spreads and deep liquidity. Trade CFDs on over 10,000 stocks, indices, commodities and currency pairs through Iress, and over 1,000 such instruments through MetaTrader 5. FP Markets supports all trading styles and EAs.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4, MetaTrader 5, Copy trading
- Regulators: Australia, Cyprus, Saint Vincent and the Grenadines
$100 | 1:500 | Market | |
$100 | 1:500 | Market | |
$100 | 1:500 | Market | |
$100 | 1:500 | Market | |
LiteFinance (LiteFinance.com), formerly LiteForex, is an ECN broker headquartered in Russia. Trade CFDs on a wide range of markets on Metatrader 4 or 5, with flexible leverage up to 1:500. LiteFinance accepts all EAs and trading styles, including scalping and news trading.
- 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), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4, MetaTrader 5, Copy trading, Mirror trading
- Regulators: Cyprus, Saint Vincent and the Grenadines
$50 | 1:500 | Market | |
$50 | 1:500 | Market | |
Start trading in minutes, with no prior identity checks, when you fund your account with crypto. Easily buy crypto through its platform if you have none. PrimeXBT.com's trading platform was voted "Best Platform for Trading with Leverage" in 2020 and "Best Crypto and Forex Broker" in 2019.
- Markets: Forex (CFD), Cryptos (CFD)*, Indices (CFD), Metals (CFD), Energy (CFD)* Availability subject to regulation.
- Platforms: Copy trading, Mirror trading
- Regulators: Saint Vincent and the Grenadines
$40 | 1:1000 | Market | |
Trade without restrictions with OctaFX (OctaFX.com), an international broker headquartered in St. Vincent & The Grenadines. Access CFDs on currency pairs, indices, precious metals and commodities on MetaTrader 4, MetaTrader 5 or cTrader.
- Markets: Forex (CFD), Cryptos (CFD)*, Indices (CFD), Metals (CFD), Energy (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4, MetaTrader 5, Copy trading
- Regulators: Cyprus, Saint Vincent and the Grenadines
$100 | 1:500 | Market | |
$100 | 1:500 | Market | |
Trade Forex as well as CFDs on cryptocurrencies, stocks, indices and commodities with an STP/ECN broker. EagleFX (EagleFX.com) allows all trading styles and Expert Advisors on MetaTrader 4.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4
- Regulators: Dominica
$10 | 1:500 | Instant | |
$10 | 1:500 | Market | |
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4, MetaTrader 5
- Regulators: Cook Islands
$10 (MT4) and $ 500 (MT5) | 1:500 | Market | |
$100 (MT4) and $ 500 (MT5) | 1:500 | Market | |
$25000 | 1:200 | Market | |
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.
The more liquidity providers your broker works with, the greater the competition and the tighter the spreads.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.
Featured brokers
Best Execution
Trading Account
Trade over 100 instruments across crypto-currencies, Forex, commodities and global stock indices. ... More
- $40 deposit
- 1:1000 leverage ?
- 0.1 pips EUR/USD
Best Conditions
ECN Account
Trade Forex on floating spreads from 0 pips plus commission on MT4 or MT5. Get started from a low $... More
- $50 deposit
- 1:500 leverage ?
- 0 pips EUR/USD
Best Platform
Standard ECN Account [MT5]
Trade over 60 pairs of currencies as well as CFDs on metals, indices and commodities through MT5 ... More
- $100 deposit
- 1:500 leverage ?
- 1.19 pips EUR/USD
Pro Account
Professional Account [EU]
Trade 55 currency pairs on fixed spreads, plus CFDs on crypto-currencies, stocks, indices, bonds and... More
- $100 deposit
- 1:400 leverage ?
- 0.6 pips EUR/USD
Bull and bear patterns