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STP Forex Brokers

Compare live Forex trading accounts from STP brokers - including DMA and ECN STP brokers.

Flexible leverage ?Commission / lot ?Min. deposit ?Spreads 
HotForex
HotForex
Fixed Account ?
1.8 pips
1:400
$5$500FixedVisit broker »
HotForex
HotForex
Micro Account ?
1.2 pips
1:1000
$0$50FloatingVisit broker »
HotForex
HotForex
Premium Account ?
1.2 pips
1:400
$0$500FloatingVisit broker »
HotForex
HotForex
Islamic Account ?
1.2 pips
1:400
$0$500FloatingVisit broker »
FXTM
FXTM
ECN Account ?
0.1 pips
1:30
$2$500FloatingVisit broker »
FXTM
FXTM
FXTM Pro ?
0.1 pips
1:30
$0$25000FloatingVisit broker »
easyMarkets
easyMarkets
Standard Account ?
3 pips
1:200
$0$100Fixed
20% cashback ?
Visit broker »
easyMarkets
easyMarkets
Premium Account ?
2.5 pips
1:400
$0$1000Fixed
20% cashback ?
Visit broker »
easyMarkets
easyMarkets
VIP Account ?
1.8 pips
1:400
$0$2500Fixed
20% cashback ?
Visit broker »
HYCM
HYCM
Fixed Account ?
1.8 pips
1:30
$0$100FixedVisit broker »
HYCM
HYCM
Classic Account ?
1.4 pips
1:30
$0$100FloatingVisit broker »
HYCM
HYCM
Raw Account ?
0.2 pips
1:30
$4$200FloatingVisit broker »
LQDFX
LQDFX
Islamic Account ?
0.8 pips
1:300
$0$20FloatingVisit broker »
LQDFX
LQDFX
Gold Account ?
0.8 pips
1:300
$0$500FloatingVisit broker »
LQDFX
LQDFX
ECN Account ?
0.2 pips
1:300
$3.5$500FloatingVisit broker »
LQDFX
LQDFX
Micro Account ?
1.4 pips
1:500
$0$20FloatingVisit broker »
LiteForex
LiteForex
Classic Account ?
2.2 pips
1:500
$0$50Floating
20% cashback ?
Visit broker »
LiteForex
LiteForex
ECN Account ?
0.4 pips
1:500
$10$50Floating
20% cashback ?
Visit broker »
FXOpen
FXOpen
STP MT4 Account ?
1.4 pips
1:500
$0$10FloatingVisit broker »
FXOpen
FXOpen
ECN MT4 Account ?
0 pips
1:500
$1.8$1000FloatingVisit broker »
FXPRIMUS
FXPRIMUS
Variable Spreads [EU] ?
1.6 pips
1:30
$0$100FloatingVisit broker »
FXPRIMUS
FXPRIMUS
ECN Premier [EU] ?
0.3 pips
1:30
$10$500FloatingVisit broker »
FXPRIMUS
FXPRIMUS
Variable Spreads [Vanuatu] ?
0.3 pips
1:30
$0$100FloatingVisit broker »
FXPRIMUS
FXPRIMUS
ECN Premier [Vanuatu] ?
0.3 pips
1:1000
$10$500FloatingVisit broker »
      

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.

FXTM

Trade 45 currency pairs and CFDs on shares, indices and metals with market execution ... More

easyMarkets

Trade Forex and CFDs on metals, commodities and indices on tight fixed spreads from a... More

Fortrade

Trade a wide range of asset classes on low fixed spreads all from Fortrade's MT4 plat... More

HotForex

Trade Forex as well as CFDs on cryptocurrencies, shares, indices, metals and more on ... More