10 Best STP Forex Brokers in Comparison (Top List 2025)

Straight-through processing (STP) trading is a cutting-edge model that enhances transparency and speed in forex trading. By transmitting client orders directly to liquidity providers, STP brokers eliminate the need for a dealing desk. Here, WR Trading presents the top 10 best STP Forex brokers for your trading needs.

Based on our analysis at WR Trading, here are our top 10 best STP Forex brokers:

#1 BlackBull Markets

This broker offers access to over 26,000 tradable instruments with spreads from 0.0. These tradable products include equities in top UUSTech companies, popular stock indices such as the S&P 500, metals (gold, copper, and silver), and commodities. 

BlackBull Markets offers trading platforms, including MT4, MT5, and TradingView, among others. This broker has world-class Equinix servers in Tokyo, New York, and London. 

Thanks to its trade execution speed of about 72ms, traders are unlikely to get requotes on BlackBull Markets. The company’s official website offers comprehensive webinars and courses.

Key Facts About BlackBull Markets

STP Execution	Yes
Founded	2014
Headquarters	New Zealand
Trading platforms	MetaTrader 4, MetaTrader 5, TradingView, BlackBull Invest, BlackBull CopyTrader, cTrader
Accounts	ECN Prime, ECN Institutional, ECN Standard
Account currency	USD, EUR
Transaction Options	Bank transfer, Credit/Debit card, PayPal, Skrill, Neteller
Minimum deposit	$0
Leverage	1:500
Min Order	0.01 lots
Spread	From 0.0 pips
Instruments	Forex, Commodities, Indices, equities
Liquidity provider	Multiple Tier-1 liquidity providers
Mobile trading	Yes
Affiliate Program	Yes
Trading features	Negative Balance Protection, No swap accounts, One Click Trading
Contests and bonuses	Refer a friend bonus

#2 FP Markets 

As our first choice in WR Trading, FP Markets has been a top-class Australian Forex broker in business for up to two decades. This broker enables fast trade executions from an NY4 server facility. Some tradable instruments on FP Markets include bonds, commodities (such as natural gas, coffee, and oil), global indices, digital currencies, and shares. 

FP Markets offers a range of trading platforms, including MetaTrader 4, MetaTrader 5, cTrader, TradingView, and WebTrader. The broker allows the use of Auto trading, scalping, and expert advisors.

Key Facts About FP Markets

STP Execution	Yes
Founded	2005
Headquarters	Australia
Trading platforms	MetaTrader 4, MetaTrader 5, WebTrader, TradingView, cTrader
Accounts	Standard, Raw ECN
Account currency	AUD 100 or equivalent
Transaction Options	Bank transfer, Credit/Debit card, PayPal, Skrill, Neteller
Minimum deposit	$100 AUD or equivalent
Leverage	Up to 500:1
Min Order	0.01 lot
Spread	From 0.0 pips
Instruments	Forex, Commodities, Indices, Cryptos, Metals, Bonds, ETFs
Liquidity provider	Multiple Tier-1 liquidity providers
Mobile trading	Yes
Affiliate Program	Yes
Trading features	Negative Balance Protection, No swap accounts, One Click Trading
Contests and bonuses	Welcome Bonus

#3 Vantage Markets

Our second-placed broker, Vantage Markets, is a trustworthy STP trading broker with over 1,000 products. These tradable products include metals, bonds, commodities, Indices, Forex currency pairs, and shares. 

Furthermore, this broker strives to offer competitive spreads and swift trade executions. Vantage Markets provides comprehensive educational resources for traders via its academy and online courses. With its headquarters in Sydney, Vantage Markets operates in 172 countries. It has received awards from organisations such as FX Broker Tester and International Business Magazine.

Key Facts About Vantage Markets

STP Execution	Yes
Founded	2009
Headquarters	Australia
Trading platforms	MetaTrader 4, MetaTrader 5, ProTrader, TradingView, Vantage App
Accounts	Standard STP, Raw ECN, Pro ECN, Swap Free
Account currency	USD, EUR, GBP, JPY, CAD, AUD, NZD, SGD, HKD, PLN
Transaction options	Bank cards, bank transfer, PayPal, Skrill, Neteller
Minimum deposit	$50
Leverage	Up to 500:1
Min Order	0.01 lots
Spread	From 0.0 pips
Instruments	Forex, Commodities, Indices, Cryptos, Shares, ETFs
Liquidity provider	Multiple Tier-1 liquidity providers
Mobile trading	Yes
Affiliate Program	Yes
Trading features	Negative Balance Protection, No swap accounts, One Click Trading
Contests and bonuses	Vantage rewards, refer a friend, deposit bonus

#4 RoboForex

RoboForex is an STP broker recognised for its favourable trading conditions and swift order execution. This broker offers a range of tradable assets, including currency pairs, indices, oil, stocks, and futures. 

In addition to its conventional accounts, RoboForex offers traders the option to use demo accounts for practice. On the “market analysis” section of the website, we saw that there is news to help people make decisions based on market trends. This broker has a Civil liability insurance scheme with a limit of 2,500,000 euros. This program addresses negligence, errors, fraud, and other risks that may lead to clients incurring financial losses.

Key Facts About RoboForex

STP Execution	Yes
Founded	2009
Headquarters	Belize
Trading platforms	MetaTrader 4, MetaTrader 5, R StocksTrader, R MobileTrader, R WebTrader, cTrader
Accounts	ProCent, Pro, ECN, Prime, R StocksTrader
Account currency	USD, EUR, GOLD
Transaction Options	Skrill, Perfect Money, Visa/Mastercard, Neteller, AdvCash, AstraPay, NganLuong Wallet, JCB, SEPA, Bank transfer,
Minimum deposit	$10
Leverage	1:2000
Min Order	0.01 lots
Spread	Floating from 0.0 pips
Instruments	ETFs, Oil CFDs, Forex, Index CFDs, CFDs on European and U.S. stocks, Real securities
Liquidity provider	Not specified
Mobile trading	Yes
Affiliate Program	Yes
Trading features	Negative Balance Protection, No swaps on Islamic accounts, Up to 20% loyalty for affiliates, One Click Trading
Contests and bonuses	Cashbacks, Free VPS server, welcome bonus, withdrawals at 0%

#5 Moneta Markets

Moneta Markets is a highly-rated STP broker that executes orders in mere seconds. Due to this reputation, it records more than one million trades per month.  

It offers access to over 1,000 financial instruments, spanning shares, commodities, ETFs, bonds, and indices. The broker provides its services in accordance with the standards set by the FSCA and SLIBC. The MT4 and MT5 apps available on this platform have several technical trading tools and a premium economic calendar.

Key Facts About Moneta Markets

STP Execution	Yes
Founded	Over 10 years ago
Headquarters	South Africa
Trading platforms	MetaTrader 4, MetaTrader 5, ProTrader, AppTrader
Accounts	Standard, True ECN, Islamic
Account currency	USD, EUR
Transaction Options	Bank transfer, Credit/Debit card, PayPal, Skrill, Neteller
Minimum deposit	$50
Leverage	1:1000
Min Order	0.01 lots
Spread	From 0.0 pips
Instruments	Forex, Commodities, Indices, Cryptos, ETFs, Bonds
Liquidity provider	Multiple Tier-1 liquidity providers
Mobile trading	Yes
Affiliate Program	Yes
Trading features	Negative Balance Protection, No swap accounts, One Click Trading
Contests and bonuses	Cashback bonus

#6 Pepperstone

Our sixth-rated forex broker, Pepperstone, was established in Australia in 201 and is operational in approximately 160 countries. This STP broker is known for its 99.9% fill rate, fast trade execution, tight spreads, deep liquidity, and zero dealing desk intervention. 

This broker offers trading platforms, including MetaTrader 4, MetaTrader 5, cTrader, and TradingView. Pepperstone actively educates traders on how to integrate Artificial Intelligence with trading.

Key Facts about Pepperstone

STP Execution	Yes
Founded	2010
Headquarters	Australia
Trading platforms	MetaTrader 4, MetaTrader 5, cTrader, TradingView
Accounts	Standard, Razor, Swap-Free
Account currency	USD, EUR
Transaction Options	Bank transfer, Credit/Debit card, PayPal, Skrill, Neteller
Minimum deposit	$0
Leverage	Up to 500:1
Min Order	0.01 lots
Spread	From 0.0 pips
Instruments	Forex, Commodities, Indices, Cryptos
Liquidity provider	Multiple Tier-1 liquidity providers
Mobile trading	Yes
Affiliate Program	Yes
Trading features	Negative Balance Protection, No swap accounts, One Click Trading
Contests and bonuses	Welcome Bonus, Refer a friend

#7 IC Trading

According to our analysis at WR Trading, IC Trading is the 7th best STP Forex broker. The broker was founded in 2007 by professionals with years of extensive experience in the financial industry. It has a license from the Financial Services Commission of Mauritius. 

As an STP brokerage, IC Trading tailors its operations to meet the needs of institutional and retail clients. It is an optimal option for scalpers and high-volume traders. This broker offers traders over 2,250 tradable assets and tight spreads thanks to its connections with 25 liquidity providers.

Key Facts About IC Trading

STP Execution	Yes
Founded	2007
Headquarters	Australia
Trading platforms	MetaTrader 4, MetaTrader 5, WebTrader, cTrader
Accounts	Standard, Raw Spread
Account currency	USD, EUR, AUD, NZD, JPY, CAD, CHF, SGD, HKD, GBP
Transaction Options	Bank cards, PayPal, Visa, Neteller, Wire transfer, Broker to Broker,
Minimum deposit	$200
Leverage	1:1000
Min Order	0.01 lots
Spread	From 0.0 pips
Instruments	Forex, Commodities, Indices, Cryptos, Stocks, Bonds
Liquidity provider	Multiple Tier-1 liquidity providers
Mobile trading	Yes
Affiliate Program	Yes
Trading features	Negative Balance Protection, No swap accounts, One Click Trading
Contests and bonuses	Welcome Bonus

#8 Tickmill

Tickmill is a renowned STP broker with stellar records. It has a presence in more than 180 countries, with an average trade execution interval of 0.20s and an average monthly trading volume of $129 billion. 

The tradable assets on Tickmill include 500 ETFs and stocks, 15+ indices, commodities, futures, and cryptocurrencies. This broker offers access to a trading toolkit that contains Forex calculators, an economic calendar, and an Autochartist.

Key Facts About Tickmill

STP Execution	Yes
Founded	2014
Headquarters	Seychelles
Trading platforms	MetaTrader 4, MetaTrader 5, WebTrader, Tickmill Mobile App
Accounts	Classic, Raw, Swap Free
Account currency	USD, EUR
Transaction Options	Bank transfer, Credit/Debit card, PayPal, Skrill, Neteller
Minimum deposit	$100
Leverage	1:1000
Min Order	0.01 lots
Spread	From 0.0 pips
Instruments	Forex, Commodities, Indices, Cryptos, Bonds, Stocks
Liquidity provider	Multiple Tier-1 liquidity providers
Mobile trading	Yes
Affiliate Program	Yes
Trading features	Negative Balance Protection, No swap accounts, One Click Trading
Contests and bonuses	Welcome bonus

#9 FBS

FBS is our ninth-best STP broker. This company has gained the trust and cooperation of over 700,000 partners and more than 27 million traders. It offers access to hundreds of trading instruments, including stocks, metals, Indices, and Forex. FBS helps its clients stay ahead via real-time market information, technical analysis tools, and daily articles.

Key Facts about FBS

STP Execution	Yes
Founded	2009
Headquarters	Belize
Trading platforms	MetaTrader 4, Meta Trader 5
Accounts	Crypto, Standard, Zero Spread
Account currency	USD, EUR
Transaction Options	Bank transfer, Credit/Debit card, PayPal, Skrill, Neteller
Minimum deposit	$5
Leverage	1:3000
Min Order	0.01 lots
Spread	From 0.7  pips
Instruments	Forex, Commodities, Indices, Cryptos
Liquidity provider	Multiple Tier-1 liquidity providers
Mobile trading	Yes
Affiliate Program	Yes
Trading features	Negative Balance Protection, No swap accounts, One Click Trading
Contests and bonuses	Welcome bonus

#10 VT Markets

As our tenth-rated broker, VT Markets offers access to more than 1,000 assets, including soft commodities, bonds, ETFs, Indices, and CFD shares. Traders have access to TradingView, MetaTrader 4, and MetaTrader 5. 

The broker offers algorithmic trading with the MQL5 language. VT Markets provides access to social copy trading and a decent amount of educational resources.

Key Facts About VT Markets

STP Execution	Yes
Founded	2015
Headquarters	Cyprus
Trading platforms	MetaTrader 4, MetaTrader 5, TradingView, WebTrader
Accounts	Welcome bonus, deposit bonus, loyalty program, and Refer a friend bonus
Account currency	USD, GBP, AUD, CAD, JPY, EUR
Transaction Options	Bank Cards, bank transfer, Fasapay, UnionPay, Neteller, Skrill
Minimum deposit	$100
Leverage	up to 500:1
Min Order	0.01 lots
Spread	From 0.0
Instruments	Forex, Indices, Energies, precious metals, soft commodities, ETFs
Liquidity provider	Multiple Tier 1 providers
Mobile trading	Yes
Affiliate Program	Yes
Trading features	Copy trading, risk management schemes
Contests and bonuses	Welcome bonus, deposit bonus, loyalty program, Refer a friend bonus

What is STP Trading?

Straight-through processing (STP) Trading is the process by which forex brokers transmit their clients’ orders directly to banks or other financial liquidity providers without any desk dealing operations. 

STP trading aims to execute trades at the most optimal possible price by sending orders to the market without any intermediary. The term “Straight Through Processing” was coined in the early days of electronic trading’s integration into the financial system. 

Financial enterprises use the term to describe the high speed of their transactions. Since straight-through processing requires minimal human effort in paperwork, it eliminates delays and hassle.

How We Tested the Best STP Forex Brokers

The best STP Forex Brokers are known for their excellence in certain key areas. At WR Trading, we consider several factors before recommending STP Forex Brokers. Some of them include:

• Costs
• Trade Execution
• Tradable Instruments
• Regulation
• Support

The Spread, Commission, and Other Costs

We checked all our selected STP Forex brokers for tighter spreads, lower commissions, and minimal overhead charges, which offer a more favourable trading experience.

Trade Execution Speed and Slippage 

At WR Trading, we prioritise a broker’s trade execution speed. In volatile markets or when using trading techniques such as scalping, fast execution speeds mean accurate prices. While slippage cannot be avoided entirely, all selected Forex brokers have a low incidence of this phenomenon.

Variety of Tradable Instruments and Trading Tools

Another central focus was the availability of several tradable products, including oil, stocks, shares, and commodities. A wide variety of tradable instruments on an STP Forex broker means that clients will get what they want. 

Furthermore, we paid attention to the availability of trading platforms, such as MetaTrader 5, along with additional technical and fundamental analysis tools.

Regulation

It is important to trade with a licensed and reputable STP broker. The availability of a license from a centralised authority ensures that the broker will not go below specific standards. Consequently, all our recommended STP brokers have licenses from reputable international organisations.

Customer Support 

If things go wrong, a client may need to contact their broker promptly. Therefore, we checked for the presence of multiple customer support channels and tested their responsiveness speed.

Pros and Cons of STP Trading

Below, we will detail the advantages and disadvantages of STP trading:

Advantages

STP trading has some benefits, which include:

During STP trading, orders are routed directly to liquidity providers without the involvement of a dealing desk. This setup promotes better trading conditions since you can likely access actual market prices. Orders will get executed faster, with zero need for manual intervention. STP trading helps clients trust their brokers because they can see prices that represent the actual market conditions. Therefore, traders can be assured that their broker is transparent and reliable.

Brokers can create a large pool of liquidity from various sources. Therefore, there is a high probability of getting tighter spreads, particularly for larger trades. News trading and Scalping are high-frequency techniques that rely on quick execution. STP brokers tend to allow these techniques, while non-STP brokers might not.

There is less conflict of interest in STP trading than in dealing. Since the broker acts as a counterparty to the trader in desk dealing, the company may manipulate prices to gain while the trader loses. In the STP model, the broker doesn’t tamper with the trader’s order. Therefore, the trader is confident about the broker’s reliability.

Disadvantages

While STP trading offers some great benefits, it has its downsides. Some of them include:

Although STP trading aims to execute orders quickly, it carries a risk of incurring high slippage. High slippage is especially common during periods of fast-moving markets or big financial news. As a trader, you have no control over the liquidity provider that your STP provider will utilise. The quality of trade execution differs from one liquidity provider to another. 

Therefore, some liquidity providers might offer tighter spreads and faster trade execution times, while others may not. Additionally, different liquidity providers assign varying prices to the same currency pair at a given time. Depending on the broker’s choice of liquidity provider, a trader might not get the best possible price.

Compared to dealing, STP trading brokers do not always guarantee their clients the ability to stop losses.

In STP Trading, the spread will vary based on market conditions. The spread can become wide during periods of high volatility. This phenomenon is disadvantageous to STP broker clients due to the high trading costs associated with it.

STP vs. ECN vs. Market Maker

There are distinct differences between STP, ECN, and the market maker trading model. In the market maker model, the forex broker “makes” the market by setting the ask and bid prices and displaying them on their screen. 

The transaction takes place between the client and the broker. Therefore, the broker provides liquidity by routing all orders through their dealing desk. Consequently, the trader is unable to access real market quotes.

ECN stands for Electronic Communications Network. An ECN broker typically displays prices from various financial institutions, including banks and market makers. The broker then selects and disseminates the best bid, asking for quotes on its platform. The goal of ECN trading is for market participants to obtain the best available offer at any given time. ECN brokers profit from the commissions charged on transactions.

The table below gives a summary of the differences between the three models.

Feature	Straight Through Processing (STP)	Electronic Communication Network (ECN)	Market Maker
Order execution	Orders are routed to liquidity providers without desk dealing	Matching of sell and buy orders among market participants	A broker serves as the counterparty to trades
Pricing	Aggregate prices from various liquidity providers	Aggregate prices from banks, traders, hedge funds, and other market participants	The broker sets prices
Spreads	Variable spreads (depending on market conditions)	Tighter spreads	Variable or fixed spreads (including markups)
Conflict of Interest	Low	Low	High
Market Depth	It depends on the broker’s liquidity provider	High market depth because of ask/bid prices from various parties	Depends on the broker’s liquidity
Fees and Commissions	May charge a commission	Usually charges a commission per trade  with tighter spreads	Earns via spreads and other extra fees

Do STP Brokers Use the A-book System? 

Yes, all STP brokers use the A-book system. In this system, brokers send orders directly to multilateral trading facilities or liquidity providers without internalising any trades.

Conclusion 

STP trading offers numerous advantages, including direct market access, transparency, and faster trade executions. It is particularly beneficial for traders seeking a fair environment with minimal conflict of interest.

However, traders should consider potential drawbacks, such as variable spreads and high slippage. Choosing a reputable STP broker, such as WR Trading, can significantly enhance your trading experience by providing access to a diverse range of instruments and robust trading tools.

Frequently Asked Questions on STP Forex Brokers