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:
Broker:
Forex Execution:
Advantages:
Account:
STP
- No Minimum Deposit
- Spreads from 0.0 Pips
- 26,000+ Markets
- Leverage up to 1:500
- Low Commission from 2$/1 Lot
- High liquidity and fast execution
- TradingView, MT4/5, cTrader, Invest Account
- New Zealand regulated
STP
- 5x regulated broker
- Spreads from 0.0 Pips
- More than 10,000 markets
- Leverage up to 1:500
- Low Commission from 3$/1 Lot
- High liquidity and fast execution
- TradingView, MT4/5, cTrader, IRRES
STP
- ECN Accounts
- Spreads from 0.0 Pips
- Copy Trading available
- Leverage up to 1:500
- Low Commission from 1.5$/1 Lot
- High liquidity and fast execution
- TradingView, MT4/5, cTrader, Pro Trader
STP
- Different ECN Accounts
- Spreads from 0.0 Pips
- Copy Trading available
- Leverage up to 1:2000
- Low Commission from 6$/1 Lot
- High liquidity and fast execution
- TradingView, MT4/5, cTrader, Pro Trader
STP
- ECN/STP Accounts
- Spreads from 0.0 Pips
- Leverage up to 1:1000
- Low Commission from 3$/1 Lot
- High liquidity and fast execution
- MT4/5 and Pro Trader
STP
- Tier-1 Regulated Broker
- Spreads from 0.0 Pips
- Leverage up to 1:500 (1:30 EU)
- Low Commission from 3$/1 Lot
- High liquidity and fast execution
- TradingView, MT4/5, cTrader
STP
- Raw Spreads from 0.0 Pips
- Leverage up to 1:500
- Low Commission from 3$/1 Lot
- High liquidity and fast execution
- cTrader, MT4 ,MT5
STP
- Regulated by multiple authorities
- Spreads from 0.0 Pips
- Leverage up to 1:500
- Commission from $3 per lot
- Fast execution (0.15 sec)
- MT4, MT5, Tickmill App
STP
- Spreads from 0.0 Pips
- Leverage up to 1:500
- Low Commission from 4$/1 Lot
- High liquidity and fast execution
- TradingView, MT4/5
STP
- Offshore A-Book Broker
- Spreads from 0.0 Pips
- Leverage up to 1:500
- High liquidity and fast execution
- MT4, MT5
#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 US Tech companies, popular stock indices such as the S&P 500, metals (gold, copper, and silver), and commodities.
BlackBull Markets offers trading platforms such as MT4, MT5, TradingView, and others. This broker also 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 is 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 (natural gas, coffee, oil, and more), global indices, digital currencies, and shares.
FP Markets offers trading platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, and WebTrader. The broker also 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, BRL ,CAD, CHF, EUR, GBP, HKD ,NZD, PLN, MXN, SGD, USD ,ZAR |
| 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 does its best to provide low spreads and fast trade executions. Vantage Markets offers 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 organizations 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 known for good trading conditions and fast order execution. This broker offers several tradable assets, including currency pairs, indices, oil, stocks, and futures.
Besides its conventional accounts, RoboForex allows traders 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 covers negligence, errors, fraud, and any risks that can cause clients to incur 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 1000+ financial instruments cutting across shares, commodities, ETFs, bonds, and indices. The broker renders its services according to the standards stipulated 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 2010, and it is operational in about 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 such as 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 also an optimal option for scalpers and high-volume traders. This broker offers traders over 2,250 tradable assets and tight spreads because of its link to 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 also have access to TradingView, MetaTrader 4, and MetaTrader 5.
The broker also offers algorithmic trading with the MQL5 language. VT Markets offers 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 | Raw ECN, Standard STP, Swap free, cent |
| 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 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 does not involve little human effort in paperwork, there is no delay or hassle with straight-through processing.
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 checked for certain 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 favorable trading experience.
Trade Execution Speed and Slippage
At WR Trading, we pay attention to 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 completely avoided, 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 such as 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 Meta Trader 5 with other 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 centralized authority makes traders sure that the broker will not go below certain standards. Consequently, all our recommended STP brokers have licenses from reputable international organizations.
Customer Support
If things go wrong, a client might need to contact his broker quickly. Therefore, we checked for the presence of multiple customer support channels, and we also tested their speed of responsiveness.
Pros and Cons of STP Trading
Below we will detail the advantages and disadvantages of STP trading:
Pros
- Direct Market Access
- High Trust
- Access to Higher Liquidity
- Highest Effectiveness of News Trading and Scalping
- Fairer Trading Environment
Cons
- High Slippage
- No Guarantee of Stop losses
- Little Control over Liquidity Providers
- Variable Spreads
Advantages
STP trading has some benefits, which include:
During STP trading, orders go straight to liquidity providers without a dealing desk. This setup promotes better trading conditions since you can likely access actual market prices. Orders will also get executed faster, with zero need for manual intervention. STP trading helps clients trust their brokers because they can see prices that represent the true market conditions. Therefore, traders know that their broker is transparent.
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 deal dealing. Since the broker acts as a counterparty to the trader in desk dealing, the company might manipulate prices to allow them 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 also has its downsides. Some of them include:
Despite the fact that STP trading aims to execute orders quickly, there is 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 utilize. 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. Also, different liquidity providers attach varying prices to the same currency pair at a particular time. Depending on the broker’s choice of liquidity provider, a trader might not get the best possible price.
Compared to deal dealing, STP trading brokers do not always guarantee their clients the ability to stop losses.
When prices rise or fall sharply in highly volatile markets, traders will not be able to cap their 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.
STP vs. ECN vs. Market Maker
There are distinct differences between STP, ECN, and the market maker model or trading. 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 different financial institutions, such as banks and market makers. The broker then selects and displays the best bid and asks for quotes on its platform. The goal of ECN trading is for market participants to get the best offer at any particular time. ECN brokers profit from the commissions charged on transactions.
STP trading involves transferring the client’s orders straight to a liquidity provider without the intervention of a dealing desk. This form of trading allows a trader to see real market prices.
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 internalizing 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 like variable spreads and high slippage. Choosing a reputable STP broker, such as those from WR Trading, can significantly enhance your experience by providing access to diverse instruments and robust trading tools.
List of the Top 10 STP Forex Brokers:
- BlackBull Markets – Best overall STP broker
- FP Markets – Good customer support and responsiveness
- Vantage Markets – Known for its multi-social trading platforms
- RoboForex – offers a wide range of tradable assets
- Moneta Markets – Global CFD broker with low trading fees
- Pepperstone – STP Forex broker with minimal withdrawal requirement
- IC Trading – Prominent MT4 Forex CFD broker
- Tickmill – known for its competitive pricing
- FBS – offers diverse account types
- VT Markets – Popular for its transparency
Frequently Asked Questions on STP Forex Brokers
What is The Difference Between ECN And STP Trading?
STP trading is a transaction model in which a broker transmits a trader’s order to a liquidity provider without any desk dealing operation. ECN Trading is a system encompassing several individual traders, brokers, and other liquidity providers where different parties can choose the optimal buy/sell price.
Is STP Trading Suitable For Beginners?
Yes. STP trading can benefit amateur traders because it offers a fair and transparent financial environment. Nevertheless, such beginners should still be aware of the basics of trading. They should note the probability of slippage and variable spreads. However, one major step is to choose a reputable STP Forex broker.
How Do I Identify A Good STP Broker?
You can identify a good STP broker by checking its website and reading online testimonials. Good brokers will always provide the necessary details on its trading model, liquidity providers, and policies. Also, check for direct market access and fairness and transparency in its market order execution.
What Kind of Trading Accounts Do STP Brokers Offer?
Examples of some types of accounts on STP broker websites include professional accounts, expert accounts, standard accounts, and STP/ECN hybrid accounts. STP brokers tailor different types of accounts to meet traders’ needs based on spreads, available currency, minimum deposits, and commissions.
What are The Advantages and Disadvantages of STP Trading?
Some of the benefits of STP trading include less potential conflict between broker and trader, no dealing desk intervention, transparency, and fast trade executions. The disadvantages of STP Trading include the potential for higher spreads during low liquidity periods, limited control over liquidity providers used, and a high probability for slippage.
