Best STP Forex Brokers
By Stéphane
Compare live Forex trading accounts from STP brokers, including DMA and ECN STP brokers, in South Africa. Understand how STP brokers work and what this means for you.
Brokers we recommend

Trade over 1,000 instruments on flexible leverage up to 1:500 on the MT4/5 and cTrader platforms. FP Markets is a true ECN broker and accepts all trading styles without restrictions.

FXCC is a regulated offshore broker with an ECN trading environment. Trade CFDs on over 100 instruments with leverage up to 1:500, only on MT4. FXCC allows all trading styles and EAs.

Pepperstone is an award-winning broker regulated in 7 jurisdictions. Trade over 1,200 instruments on MetaTrader 4, 5, TradingView or cTrader. Pepperstone allows all trading styles.
Other brokers:
- Exness Best Swap-Free Broker
- JustMarkets Best Broker for Gold & Silver (CFD)
- HYCM Best Forex Broker (Middle East)
- LiteFinance Best for Copy Trading
- RoboForex Best Offshore Broker
- 4XC Best Customer Service
- NordFX Easy Account Opening
Comparison table
Here's how and why rated these brokers, or learn more about our impartial 18-point methodology.
Overall | Markets | Trading environment | Deposits and withdrawals | Investor protection | Customer service | |
---|---|---|---|---|---|---|
FP Markets | 4.8 | 5.0 | 4.8 | 5.0 | 4.0 | 5.0 |
FXCC | 4.0 | 4.0 | 4.2 | 4.4 | 3.8 | 3.8 |
Pepperstone | 4.7 | 5.0 | 4.8 | 4.4 | 4.8 | 4.7 |
Exness | 4.3 | 3.8 | 4.0 | 5.0 | 3.8 | 4.7 |
JustMarkets | 4.2 | 3.9 | 4.5 | 4.6 | 4.5 | 3.3 |
HYCM | 4.2 | 5.0 | 3.8 | 4.4 | 3.8 | 4.0 |
LiteFinance | 4.1 | 4.0 | 4.4 | 4.2 | 3.2 | 4.7 |
RoboForex | 4.1 | 5.0 | 4.5 | 3.9 | 3.2 | 3.8 |
4XC | 4.1 | 3.8 | 4.4 | 4.5 | 3.0 | 4.7 |
NordFX | 3.4 | 3.0 | 4.2 | 3.2 | 2.0 | 4.6 |
Forex (CFD) | Cryptos (CFD)* | Indices (CFD) | Metals (CFD) | Energy (CFD) | Stocks (CFD) | ETFs (CFD) | Commodities (CFD) | Bonds (CFD) | |
---|---|---|---|---|---|---|---|---|---|
FP Markets | 72 | 12 | 16 | 17 | 4 | 1000 | 46 | 5 | 2 |
FXCC | 71 | 8 | 12 | 6 | 2 | ||||
Pepperstone | 96 | 20 | 23 | 12 | 4 | 957 | 112 | 16 | |
Exness | 96 | 11 | 10 | 4 | 3 | 98 | |||
JustMarkets | 61 | 14 | 13 | 7 | 3 | 165 | |||
HYCM | 69 | 19 | 28 | 9 | 3 | 149 | 19 | 4 | |
LiteFinance | 57 | 66 | 15 | 5 | 3 | 131 | 5 | ||
RoboForex | 40 | 33 | 10 | 20 | 4 | 8400 | 1000 | 100 | |
4XC | 60 | 5 | 11 | 2 | 2 | ||||
NordFX | 33 | 13 | 4 | 2 | 3 | 23 |
MT4 | Copy trading | MT5 | cTrader | TradingView | |
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FP Markets | |||||
FXCC | |||||
Pepperstone | |||||
Exness | |||||
JustMarkets | |||||
HYCM | |||||
LiteFinance | |||||
RoboForex | |||||
4XC | |||||
NordFX |
Bank transfer | Binance Pay | Credit card | Debit card | BTC (Bitcoin) | USDT (Tether) | NETELLER * | Skrill * | Broker to broker transfer | |
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FP Markets | |||||||||
FXCC | |||||||||
Pepperstone | |||||||||
Exness | |||||||||
JustMarkets | |||||||||
HYCM | |||||||||
LiteFinance | |||||||||
RoboForex | |||||||||
4XC | |||||||||
NordFX |
Australia | Bahamas | Belize | Cayman Islands | Cook Islands | Cyprus (EU) | Nevis | Seychelles | South Africa | St. Vincent & the Grenadines | UAE | UK | Vanuatu | |
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FP Markets | |||||||||||||
FXCC | |||||||||||||
Pepperstone | |||||||||||||
Exness | |||||||||||||
JustMarkets | |||||||||||||
HYCM | |||||||||||||
LiteFinance | |||||||||||||
RoboForex | |||||||||||||
4XC | |||||||||||||
NordFX |
* Availability is subject to local laws and regulations.
Note: for brevity, this table only shows the most popular payment methods and regulators. Open a free account with any of these brokers to view funding options available in your country.

Trade over 1,000 instruments on flexible leverage up to 1:500 on the MT4/5 and cTrader platforms. FP Markets is a true ECN broker and accepts all trading styles without restrictions.
- Likes
- Flexible leverage up to 1:500.
- Trade over 1,000 financial instruments.
- Trade on MT4/5 or cTrader without restrictions.
- Copy trading service is available.
- Customer support is available 24/7.
- Dislikes
- No TradingView integration is available for now.
- No investor compensation fund in the event of bankruptcy.
We've traded through this broker's MT5 Raw account and can vouch for its low spreads and reliable trading environment. Its Raw account is designed for day traders and scalpers, and its Standard account will suit all others.
We also like the breadth of instruments available through its platform. You'll find over 70 currency pairs, as well as gold and silver priced in US dollars, euros and Aussie dollars. You can also go long or short on stocks and government bonds through over 40 ETFs.
Its free educational content also sets it apart from the competition. Fund your account to get access to trading signals from Trading Signal and Autochartist. You'll also get access to free trading courses for beginners and experienced traders, weekly webinars and e-books.

FXCC is a regulated offshore broker with an ECN trading environment. Trade CFDs on over 100 instruments with leverage up to 1:500, only on MT4. FXCC allows all trading styles and EAs.
- Likes
- 100% bonus on your 1st deposit (up to US$2,000).
- Flexible leverage up to 1:500.
- All MT4 Expert Advisors are allowed.
- No fees on deposits.
- No minimum deposit.
- Dislikes
- FXCC only supports MetaTrader 4.
- Withdrawal fees apply across some, but not all, funding methods.
We particularly like FXCC's high leverage (up to 1:500) available across all currency pairs, gold, silver, stock indices and energy products. It offers negative balance protection, for added peace of mind.
Its MetaTrader 4 integration provides a smooth trading experience, with no lags and only minimal slippage. It accepts all trading styles and Expert Advisors, including scalping robots, without restrictions. We look forward to the day when FXCC will support MT5.
As FXCC offers consistently low spreads, it is possible to enter and exit trades several times a day, to take advantage of even small price swings. Its ECN XL account has no commission. However, FXCC will apply a $5 mark-up per lot, per side, if you open an account through us.

Pepperstone is an award-winning broker regulated in 7 jurisdictions. Trade over 1,200 instruments on MetaTrader 4, 5, TradingView or cTrader. Pepperstone allows all trading styles.
- Likes
- Trade over 1,200 instruments across many asset classes.
- Trade on MT4/5, cTrader or even TradingView.
- All trading styles and EAs are allowed.
- Wide range of currencies for your trading account.
- Excellent customer service.
- Dislikes
- You cannot choose which Pepperstone entity to open an account with. For example, you will need to open an account with Pepperstone's FCA-regulated entity if you live in the UK.
We particularly enjoy Pepperstone's integration with TradingView, which makes it possible to open and close positions directly from the charts. This in addition to its support for the popular MetaTrader 4, 5 and cTrader platforms.
Fees are a big factor for any trader. And Pepperstone's competitive spreads and commissions are a significant plus point for us. Its Standard account with low and variable spreads will appeal to all traders. And its Raw account is designed for Forex day traders and scalpers.
Deposits and withdrawals are easy and hassle-free, which is exactly what we look for in a broker. Whenever we've reached out to customer service, we've found their agents to be responsive and attentive.

Exness.com is an offshore broker trusted by over 500,000 active clients. Trade Forex, crypto, commodities, stocks and indices on MetaTrader 4 or 5 with unlimited leverage (conditions apply).
- Likes
- Low and stable spreads.
- No swap charges across most FX pairs.
- Unlimited leverage on MetaTrader 4 and 5 (conditions apply).
- Withdrawals processed instantly in a wide range of currencies.
- Negative balance protection is available.
- Dislikes
- No access to a compensation fund in the event of bankruptcy.
- No CFDs on agricultural commodities, ETFs or government bonds.
Once you start trading with Exness, you soon understand why this broker is trusted by over 500,000 active clients. We traded through its MT5 Standard account with spreads from just 0.3 pips. Most instruments have no swap charges at all, which makes it easy to estimate how profitable each trade could be.
You'll find a wide range of instruments through its platform. These include over 100 currency pairs, crypto, U.S. stocks, global indices and commodities. The gold and silver crosses against the euro, the British Pound and the Aussie dollar will appeal to gold bugs.
Its web trading platform, built around TradingView charts, is sleek. If you're into technical analysis, you'll be able to customise charts with over 100 indicators and save them for later. Visit Exness to create an account and see for yourself what this broker has to offer.

Trade CFDs on over 250 instruments with high leverage, up to 1:3000, through JustMarkets.com. JustMarkets accepts all trading styles and Expert Advisors on MetaTrader 4 and 5.
- Likes
- Flexible leverage up to 1:3000.
- All trading strategies and EAs are allowed on MT4/5.
- You can also trade on raw spreads, plus commission.
- Daily Forex market commentary.
- No fees on deposits or withdrawals.
- Dislikes
- No access to an investor compensation fund as this broker is incorporated in the Seychelles.
- Customer support is underwhelming.
JustMarkets offers trading accounts for traders both new and experienced. Its Standard and Standard Cent accounts, designed with beginners in mind, have a low US$10 minimum deposit. Its Pro and Raw Spread accounts will appeal to day traders and scalpers.
With JustMarkets, you can open a trading account in USD, EUR, GBP, JPY, MYR, IDR, THB, VND, KWD, CNY, and even ZAR. If possible, open a trading account in your currency to avoid currency conversion fees. Notably, JustMarkets charges no fees on deposits or withdrawals.
Our withdrawals have generally been processed swiftly. However, our first withdrawal took several weeks due to a failure by a third-party payment provider. During that period, customer support was slow to respond and acknowledge the underlying problem.

HYCM, formerly HY Markets, is an award-winning regulated online broker. Trade over 300 instruments on fixed or variable spreads over MetaTrader 4 or 5.
- Likes
- Trade CFDs or invest in over 1,000 "real" stocks.
- Trade on MetaTrader 4 or MetaTrader 5.
- Get free signals from Trading Central.
- Account currencies include USD, EUR, GBP, CAD and AED.
- Dislikes
- Trading fees on its Fixed and Classic accounts are a little high.
- Monthly inactivity fee after 90 days.
- Copy trading isn't possible.
HYCM is an established broker, in business since 1999. It also is a safe place to trade as it's overseen by regulators in the EU, the UK, the UAE and abroad.
Trade CFDs on a wide range of markets through its Classic and Raw accounts. You may also buy and hold over 1,000 "real" stocks, without leverage, and earn dividends.
Every client receives complimentary trading signals from Trading Central. Trading Central uses technical analysis to identify potential opportunities on a daily basis. Their signals could spark new ideas, or reinforce your existing convictions.
Overall, we have found HYCM to provide a reliable trading environment. However, its trading fees are a little higher than the competition, unless you open a Raw account.

Trade CFDs on a wide range of markets on M4/5, with leverage up to 1:1,000 through LiteFinance.com. LiteFinance accepts all EAs and trading styles, including scalping and news trading. Earn up to 2.5% interest on your balance.
- Likes
- All trading strategies are allowed.
- Get free daily technical and fundamental analysis.
- Receive up to 2.5% interest on used funds.
- Copy trading accounts are also available.
- Dislikes
- Withdrawals fees are somewhat high, especially card withdrawals.
We have been trading through LiteFinance's ECN account for over 3 years on raw spreads plus a commission of $5 per lot, per side, and we enjoy its unrestricted trading environment.
Their customer service team is responsive, even on weekends. Our withdrawals have always been processed as quickly as possible. However, their withdrawal fees are a bit high, especially card withdrawals.
LiteFinance publishes a lot of educational content in the form of webinars and articles on its blog, often focused on technical analysis. However, you might find yourself lost if you are new to trading.

RoboForex.com is an offshore broker based in and regulated in Belize. Access over 12,000 instruments, including real equities and CFDs on Forex, crypto and oil, from a single platform. We were able to start trading in minutes, without ID verification.
- Likes
- Access 12,000 instruments, including real stocks.
- Start trading in minutes without ID verification.
- Enjoy negative balance protection.
- Dislikes
- RoboForex is only regulated in Belize.
- Withdrawal fees across most funding methods.
RoboForex is an offshore broker you should consider, if you're looking for high leverage (up to 1:2000) across a wide range of asset classes.
We were able to open an account and start trading in under 5 minutes, as RoboForex postpones account verification until you raise a withdrawal request. It's free to fund your account, but pay attention to withdrawal fees across most withdrawal methods.
RoboForex accepts all trading styles and EAs on the MetaTrader 4 and 5 platforms. Its trading fees are on par with its competition, and swap fees generally lower. You may also qualify for a complimentary VPS if you trade at least 3 lots per month.
We particularly like its R StocksTrader platform, which allows you to invest in over 12,000 "real" stocks, in addition to CFDs across all other asset classes. If you're a buy-and-hold investor with an interest in stocks, this platform is one you should consider.

4XC is an offshore broker founded in 2018 by Forex veterans. Trade Forex, metals, oil and stocks with leverage up to 1:500. 4XC accepts all trading styles and Expert Advisors on MT4/5.
- Likes
- Enjoy flexible leverage up to 1:500.
- Choose between MetaTrader 4 and 5.
- All trading styles and Expert Advisors are allowed.
- Fast execution speeds from its London data-centre.
- Dislikes
- Negative balance protection is only available across Forex and precious metals.
- 4XC is regulated in the Cook Islands, a country without an investor compensation fund.
From the outset, 4XC has offered high leverage (up to 1:500) across Forex, gold and silver. It accepts all trading styles on MT4/5 without restrictions. Alternatively, you may open a PAMM account or a copy trading account.
Its customer service agents, available 6 days a week, have always been friendly and professional. So it's perhaps no surprise that 4XC has received several awards commending the quality of its customer service team.
Overall, we would recommend 4XC to anyone looking for a trustworthy broker, especially if you are primarily interest in trading Forex or precious metals on high leverage.

NordFX is a fully offshore Forex broker serving traders since 2008. Trade 33 currency pairs, crypto and more with flexible leverage up to 1:1000 on MetaTrader 4. Start trading in minutes without ID checks.
- Likes
- High leverage up to 1:1000.
- Copy trading and PAMM accounts are available.
- Start trading without ID.
- Dislikes
- NordFX offers fewer instruments than other brokers.
- NordFX only supports the MT4 platform.
- Withdrawal fees apply.
NordFX is one of few brokers that allows anyone to open an account and trade without having to provide proof of identity. However, you'll need to verify your identity later, upon raising a withdrawal request.
NordFX offers leverage up to 1:1000 across currencies and precious metals. However, as it reserves the right to adjust the maximum leverage based on market conditions, you could be surprised by a margin call if you use high leverage.
NordFX processes deposits and withdrawals fast, including on weekends. However, inconsistencies between deposit and withdrawal methods have been a source of frustration for us. Withdrawal fees, in the region of 4% for Visa and Mastercard, are a negative.
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. 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.
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About the author
I'm Stéphane, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.