Top 15 STP Forex Brokers List

Brokers use a technology called straight-through processing, or STP, to electronically pass trades to the market. Trades are executed on behalf of clients by STP forex brokers by sending them directly to liquidity providers, like banks or interbank exchange houses. Transactions go straight to the market without going via a dealing desk. In this article we’re going to check the top 15 STP forex brokers list and their pros and cons.

No Dealing Deck Vs Dealing Desk

STP brokers fall under the category of No Dealing Desk (NDD) brokers, which execute trades without the need for a dealing desk. Market makers, also referred to as dealing desk brokers, cover the other side of a client’s trade. They accomplish this by either making the trade themselves or by locating a different client to take the opposing position.

There are only a certain number of clients who can take the opposite side of your trade because market makers do not have direct access to the larger market. As a result, the broker will frequently purchase the stock you’re selling, for instance, creating the market.

Market makers and regulated STP forex brokers hold slightly different licenses. Market makers are referred to as B-book, whereas they are called A-book brokers.

How STP brokers work?

As mentioned above, STP brokers adhere to the No Dealing Desk (NDD) paradigm. Because STP brokers process transactions quickly and provide accurate market quotes, retail traders typically choose them over other brokers.

When it comes to providing direct market access without the need for a dealing desk, STP brokers and ECN brokers are comparable. Trades are, nevertheless, routed by ECN brokers to a controllable liquidity pool and providers.

Price

Liquidity Providers (LPs), which may consist of one or more providers, provide price feeds to STP Forex brokers. This enables STP brokers to show their clients the obtained prices. Prices that STP brokers obtain from LPs are accepted and traded by clients.

Prices will be more favorable & competitive with multiple LPs. STP brokers have the option to add their markups to the acquired prices.

Trade

Customers trade through STP brokers with the Liquidity Provider(s) rather than STP brokers directly. To put it another way, the final counterparty of every trade is a Liquidity Provider rather than an STP broker.

What’s the deal?

Customers can trade Forex with small investments and trading orders up to $500, and they use the STP broker as their intermediary anonymous “shield” (STP brokers pass orders to LPs in an anonymous manner) to access better prices that are offered by larger entities – Liquidity Providers. There are different brokers on the top 15 STP forex brokers list, and we should do our best to find the best ones.

Pros of STP Brokers

Retail traders tend to favor STP brokers. There are various advantages to their business model:

Processing speed

Trade execution happens electronically and quickly thanks to these brokers’ use of STP technology. While many market maker brokers process trades manually at a dealing desk, some also use software.

Quotes mirror the market

STP brokers engage in direct trading with the market. As a result, their quotes precisely reflect the prevailing prices. On the other hand, market makers might present fabricated quotes to enhance their profits.

No conflict

Since market maker brokers frequently take the other side of the trade, they profit when their clients lose. This may lead to certain brokers acting in a way that could jeopardize the chances of success for their clients. For instance, they could selectively fill orders or provide fictitious quotes.

Since STP brokers are directly connected to the market, they are not motivated by client losses for personal gain. In fact, clients who make money tend to invest more with the broker, which increases revenue.

Lot sizes

ECN brokers usually limit trades to 10,000 units of the base currency, or a minimum lot size of 0.1. This is a result of the minimum trade size that banks and other financial institutions follow. For retail traders who might prefer to trade smaller values, this can be prohibitively expensive.

Frequently, STP brokers can provide reduced minimum lots. Interactive Brokers does not have a minimum order size, allowing you to execute a trade for as little as one unit of the base currency.

Cons of STP Brokers

There aren’t many drawbacks to STP brokers because they function with the majority of both ECN and market-marker advantages:

Spreads

Compared to dealing desk brokers, STP brokers typically offer wider spreads. This is so that dealing desk brokers can profit from the losses incurred by their clients. As a result, they do not require as much spread revenue.

With STP brokers, their spreads and commissions are their only sources of income.

Hybrid models

A hybrid strategy is used by certain dealing desk brokers. They might take the other side of the trade on some deals and pass others onto the market. It can be challenging to determine which brokers behave in this manner. Asking questions and getting clarification from the broker’s customer support might be helpful.

Top 15 STP Forex Brokers List

To facilitate STP more effectively, brokers must have both the technical networking and the required systems. Now let’s begin with the list of the top 15 STP forex brokers list and their features.

*STP, claims ECN – Forex Brokers who announce their accounts as “ECN”

*EURUSD Spread as low as

*Commission per Standard lot Round Turn

AMarkets

AMarkets has numerous offices throughout Europe and the CIS. Although it was founded in 2007, significant structural modifications have been made since then. The business was formerly known as AForex. The brand eventually came to represent dependability and European standards for high-quality customer service. AMarkets is currently working to advance both professional algorithmic trading and “trading for beginners.”

PROS:

• 35 to 50 ms is the order execution speed (the average market indicator is 200 to 500 ms).
• The average market indicator is between 0.5 and 0.3 pip, and the average market spreads from 0.3 pip.
• AMarkets Copy Trading is the newest platform for passive investments.
• The user account has several analytical tools integrated into it, such as algorithmic trading, risk management tools, and signals.
• Up to a EUR 20,000 compensation fund is available for each client.

CONS:

• Basic settings for expert advisors are not profitable. Testing templates before launching them is strongly discouraged.
• There is no information available regarding the methodology used to rate managers or the degree of reliability of the statistics supplied.
• Lack of a regulatory authorization. Although the broker is registered in Saint Vincent and the Grenadines, no regulator has provided information regarding the license. There are no licenses issued by the Financial Commission.

AdroFx

Contracts for difference (CFDs) on currency pairs, equities, indexes, cryptocurrencies, and metals are available through AdroFx. Accounts can be opened on the Allpips or MetaTrader 4 platforms by traders.

If the withdrawal amount reaches or surpasses the minimum amount, there are no trading or withdrawal fees. The USD, EUR, and GBP are the three basic currencies. Allpips offers cryptocurrency in both BTC and ETH. Because of its unique bonuses and promotions, AdroFx offers devoted initial conditions. Both an integrated copy trading service and a referral program are available.

PROS:

• A wide selection of account kinds across two platforms enables each trader to select the options that best suit their need.
• This broker promises a clear fee policy with average fees below the market and no withdrawal fees.
• It only takes a few minutes to register, and verification is quick. In addition, bonuses drastically lower the entry barrier for new customers.
• A sizable asset pool and modest leverage offer flexible trading circumstances and significant profit potential.
• This business offers trading signals, analytics, and instructional videos on a regular basis.

CONS:

• The trading pool offered by this broker only includes CFDs.
• This company serves more than 200 regions, but it is unable to accept customers from Suriname, North Korea, Syria, and certain other nations.
• Although rated as current, technical support is unavailable on weekends.

BlackBull Markets

BlackBull Markets is another broker on the top 15 STP forex brokers list. Access to the currency pair and contract for difference (CFD) markets is made possible by BlackBull Markets. The CFDs are divided into the following groups: futures, cryptocurrencies, metals, energies, stocks, indices, commodities, and agricultural commodities. Over 26,000 assets are present overall.

There are three real accounts: Standard, Prime, and Institutional, in addition to the demo account. Their minimum deposit requirements, spreads, and commissions are different. There is no minimum deposit needed for the Standard account; the others require $2,000 and $20,000, respectively.

The company’s clients can trade using MT4, MT5, WebTrader, and TradingView platforms. Additionally, this broker offers solutions like BlackBull Shares for copy trading and BlackBull Trade for currency and CFD trading. The business provides opportunities for partnerships through its IB (Introducing Broker) and “Refer a Friend” initiatives. The website offers analytical tools and instructional materials for traders at various skill levels.

PROS:

• It provides a free demo account and a sizable selection of educational resources.
• Traders can personalize their offerings with three types of real accounts, which give them instant access to the full pool of currency pairs and CFDs.
• Trading commissions are advantageous, and spreads are below the market average.
• The broker gives traders news and analytics to help with forecasting, and leverage to increase profitability.
• Users can choose from a variety of trading platforms to find the best trading conditions and work comfortably on any kind of device.
• The broker offers three options for its partnership program, a copy trading service for extra earnings, and a “Refer a Friend” promotion.
• There are numerous ways to make deposits and withdrawals, including bank cards, wire transfers, and foreign payment systems like Skrill and Neteller.

CONS:

• Despite having a large selection of assets, this broker only offers 70 currency pairs; all other trading instruments are represented as CFDs.
• Certain global regions are not served by BlackBull Markets for traders.
• The IB partnership is primarily targeted at legal entities, the platform does not offer MAM or PAMM joint accounts, and the “Refer a Friend” program might not be the most beneficial.

Capital Index

In 2014, Capital Index UK was founded. All necessary tools and conditions for active trading on the spread rates and Forex market are supplied by the broker. Capital Index is a UK-based company that is subject to Financial Conduct Authority (FCA, UK, 709693) regulation. The Bahamas’ Securities Commission (SCB, SIA-F199) has authorized and regulated Capital Index (Global Limited). The broker has not disclosed any information regarding the honors it has won.

PROS:

• User-friendly interface for a website.
• Trading options for micro-lots.
• Accounts for both novice and experienced traders.

CONS:

• For inexperienced traders, no cent accounts.
• Minimal resources for education
• There are no referral or investment schemes for passive income.

CFI Financial Group

With more than two decades of experience and service rendered in numerous locations and cities across more than 100 countries worldwide, CFI Financial Group has long earned its stellar reputation. CFI provides its clients with expert customer service, knowledgeable account managers, free webinars, daily technical analysis, and a welcoming trading environment.

With no minimum deposit requirements, no extra commissions, lightning-fast order execution, and minimum spreads starting at just 0 pip, traders can trade stocks, forex, commodities, indices, ETFs, and cryptocurrencies from 19 markets around the world.

PROS:

• No minimum amount is needed for a deposit.
• CySEC 179/12 (Cyprus) license holder. Respected as an offshore regulatory body, it adheres closely to European financial law.
• No restrictions on tactics.
• Round-the-clock assistance.

CONS:

• No МT4. МТ5 is thought to be less practical even though it has more sophisticated technology.
• Withdrawal fee.

Deriv

Having been in operation for more than 22 years, Deriv consistently produces the best. With a plethora of advantages for profitable trades, Deriv has established itself as one of the safest brokers for both new and seasoned traders. On the top 15 STP forex brokers list, Deriv takes the security of user’s data seriously.

PROS:

• In contrast to its rivals, Deriv offers a large selection of trading instruments from different categories, including indices, metals, stocks, and currency pairs.
• You can start with small deposits if you don’t have any capital, so you shouldn’t worry too much; once you start making money, you can easily withdraw it using your preferred method.
• To get started with Deriv, you have a choice of three practical trading platforms.

CONS:

• Deriv offers comparatively few ways to get in touch with support when compared to other counterparts.
• The countries from which users can access Deriv are restricted. You are unable to open an account and trade on Deriv if you are from Malaysia, Israel, the United States, or Canada.

ECR Capitals

In addition to a demo account, the British broker ECR Capitals provides five actual accounts. Currency pairs, metals, and CFDs (Contracts for Differences) on indices, oil, and other commodities are all available for trading.

Advisors are allowed to be used, and trading is done via the MetaTrader 5 trading platform with no limitations on tactics or strategies. The broker has put in place a standard referral program, an integrated copy trading service, and various bonus kinds, one of which is a deposit bonus for the initial replenishment.

PROS:

• The registration process takes a few minutes, the minimum deposit is $10, and a demo account can be opened for free without funding.
• Since news trading, scalping, and hedging are permitted, traders are free to operate as they please. Variable leverage is also offered.
• One of the lowest spreads is provided by ECR Capitals, which starts at 0 or 1 pip depending on which of the five accounts an individual chooses.
• With the easy integration of the trade copying service into the platform, investors can profit passively from the trades made by more seasoned colleagues.

CONS:

• The platform provides a good selection of well-known assets, but all of them are CFDs and currency pairs, with a small selection of metals. Stocks, indices, commodities, and other trading instruments are not available for use by traders.
• Only on weekdays does client support respond, even at night, and is greatly appreciated. This implies that traders will have to wait until Monday to address any problems that may come up on the weekends.
• There are considerable geographical limitations. It is not possible for citizens of the United States, Canada, the European Union, or any nation on the FATF (Financial Action Task Force) blacklist to become clients of ECR Capitals broker.

Forex TB

Licensed by CySEC 272/15 (Cyprus), ForexTB is a European broker that falls into the traditional mid-level company category. The broker only provides CFDs as part of its standard offering of trading assets. Only the OTC markets are accessible to traders via ForexTB.

PROS:

• It uses a proprietary design for its primary platform browser. It has the fewest gadgets possible without sacrificing functionality. Beginners can use it.
• CySEC Permit. The MiFID I and MiFID II directives apply to all licensees of the regulator, despite their offshore location.
• This broker has a wide range of payment systems in cooperation. A benefit for the broker is the counterparties’ trust.
• Expert assistance provided. The responses to the questions are succinct and direct to the point of the inquiry.
• Commissions for CFDs on commodities markets assets are comparatively low.

CONS:

• The available assets are not fully described, and no specifications are provided.
• Incomplete information about the trading circumstances.
• “Deeply hidden” are the requirements for cash withdrawals.
• For the EUR/USD pair, relatively high spreads start at 3.2 pip on an account with a minimum deposit.
• Depending on the kind of account, limitations on fee-free withdrawals.

FXCC

In 2010, the FXCC broker was founded. It provides cozy circumstances for active trading in a range of assets. The company is governed by the Cyprus Securities and Exchange Commission (CySEC) under license number 121/10 and the Vanuatu Financial Services Commission (VFSC, 14576). Numerous accolades have been bestowed upon the broker, including “Best Forex Trading Account (ECN XL)” (2019), “Best ΜT4 Broker” (2018), and “Best European STP Broker” (2018).

PROS:

• Website interface and multilingual support.
• Numerous regulators and licenses.
• Access to hedging and automated trading.

CONS:

• No accounts for cents.
• On weekends, support services are not offered.
• No investment schemes.
• Not using the MetaTrader 5 platform for trading.

Grand Capital

Grand Capital is another broker on the top 15 STP forex brokers list. It was established in 2006 and offers all types of brokerage services, including trading in futures and cryptocurrencies. The business was among the first to provide investment portfolios for passive investing, copy trading services, and direct access to the biggest liquidity aggregator.

The Financial Commission insures traders’ funds, providing up to 20,000 EUR in coverage for each customer.

PROS:

• Direct access to Currenex, guaranteeing relatively tight spreads and quicker order execution in ECN accounts.
• Separate accounts and insurance coverage of up to 20,000 EUR for each customer.
• Platforms for investing passively.

CONS:

• Nearly all account types have fees.
• There are withdrawal costs.
• No cryptocurrency demo accounts.
• Support services operate gradually.

INFINOX

Since 2009, INFINOX, a CFD and Forex broker, has offered trading services. In addition to 14 regional offices, the company’s headquarters are located in the Bahamas. The broker offers contracts for difference (CFDs) on stocks, stock indexes, commodities, cryptocurrencies, and futures, as well as currency pairs (Forex).

Regulators in the Bahamas (SCB, SIA F-188), Mauritius (FSC, GB20025832), and the United Kingdom (FCA, 501057) have licenses that allow INFINOX to operate.

PROS:

• A total of six trading instrument classes.
• CFDs on stocks are available in eight markets.
• Protection for bank accounts up to USD 500,000.
• IX Social and MQL5 copy trading services are available.
• Tight spreads, starting on an ECN account at 0.2 pip.

CONS:

• No accounts for PAMM.
• Limited resources for education.
• The support system isn’t available on weekends.

LBLV

You can see the name of LBLV on the top 15 STP forex brokers list. Since 2017, LBLV has been a licensed business that operates in the market.

The broker operates offices across the globe. Statistics show that 98,000 active traders use LBLV. Ensuring client safety and providing top-notch service are the company’s top priorities. The high standards of service delivery and the technologies in use support this.

PROS:

• SSL connections and ECN accounts remove conflicts of interest and guarantee workplace safety.
• an extensive selection of trading tools. Traders can use precious metals, indexes, stocks, and commodities in addition to 50 currency pairs.

CONS:

• A $5,000 minimum deposit is required.
• Establishing a standard account with a sizable deposit takes away the chance for inexperienced traders to refine their trading strategies and exposes them to increased financial risk.
• Weekend access to the support service is unavailable; while support service representatives reply quickly, their information is poor.

LiteFinance

A high-tech business, LiteForex is a broker that consistently provides cutting-edge options for both active and passive trading. Since its incorporation in 2005, the LiteForex group of businesses has progressed through the ranks to dominate its industry. LiteForex is an online ECN broker that offers special technical solutions for sending trades directly to liquidity providers and the interbank.

In addition to other benefits of convenient and effective trading, social trading is a way for traders to automatically copy each other’s trades.

PROS:

• STP and ECN technologies for handling client orders and pin spreads with immediate market execution and little slippage in either direction, by the A-Book model.
• Personal accounts can use their trading platform, which was made for inexperienced traders and includes features like transaction copying and sentiment analysis.
• Numerous affiliate schemes featuring cashback and a multi-level structure.
• Commissions are paid automatically when replenishing and withdrawing funds.

CONS:

• No cent accounts.
• Your personal account’s trading platform does not offer algorithmic trading or testing, nor does it offer the addition of extra indicators.
• Complicated process of verification.

Traders Trust

The brokerage firm Traders Trust was founded in 2009. Both active trading and passive investing are accessible through the company. The broker complies with the Foreign Account Tax Compliance Act (FATCA) and is registered in Bermuda. Direct access to interbank liquidity is offered by Traders Trust, which also upholds complete transparency in all client interactions.

PROS:

• Competitive spreads
• An opportunity to employ every trading style and strategy.
• Gaining access to the social trading platform MQL5 Signals and making MAM account investments.

CONS:

• No accounts for micro (cents).
• Trading is not possible for MT5.
• No authorization from respectable authorities.
• To copy the trades of profitable traders, you must deposit a minimum of $100.

VT Markets

VT Markets is the last name on the top 15 STP forex brokers list. Transparent access to Forex and CFD trading is provided by the global middleman, VT Markets (Pty) Ltd. Serving clients since 2016, the business is governed by the Cayman Islands Monetary Authority (CIMA). Its goal is to offer the best terms to traders worldwide without imposing trading restrictions, forced requotes, or price manipulation.

More than 13 awards were given to VT Markets (Pty) Ltd in the online trading category. The Global 100 Awards 2020 have named it the Best MT4/MT5 Broker with the Lowest Trading Costs.

PROS:

• Solid parent company finances and dependable custodian bank.
• There are more than 230 different asset classes that can be traded.
• Trading with STP, ECN, and Islamic accounts is permitted.
• An extensive selection of investment options from reliable third-party sites.
• Margin trading for cryptocurrency pairs with a maximum leverage of 1:500.

CONS:

• For inexperienced traders, the maximum minimum deposit is $200.
• Not being able to access micro (cent) accounts.
• ETFs and cryptocurrencies are not included in the list of available assets.

Identifying STP, ECN & Market Maker Brokers

We examined the top 15 STP forex brokers list above. But sometimes determining whether a broker is a genuine market maker, STP, or ECN broker can be challenging. Some brokers don’t explain to their clients how they operate. But here are some hints to help you figure it out on your own:

Minimum lot size

Your broker is most likely not an ECN broker if they are requiring a minimum lot size of less than 0.1. Market makers and STP brokers typically offer the lowest minimum lot sizes.

Spreads

Market makers may be brokers who assert to have the cheapest and tightest spreads available. Since they frequently profit from client losses, they don’t need to generate as much revenue from spreads. Moreover, ECN brokers usually charge commissions to make a profit even though they offer tight spreads.

Rules for scalping

Scalping is a trading strategy that profits from market quote inefficiencies. Scalping strategies can help traders generate healthy returns, but they can also negatively impact a market maker’s bottom line.

Above all, though, market makers will struggle to fill orders quickly enough for scalping tactics to work. Therefore, in most nations, including the USA, UK, Australia, South Africa, and others, forex scalping is more common at ECN and STP brokers and frequently prohibited at market makers.

Conclusion

Brokers who have the technology to execute forex trades directly with the market are known as STP brokers. They are an excellent option for retail traders because they permit small lot sizes and provide accurate quotes and fast processing times. It’s not always simple to determine whether your broker uses the STP model, though. The top 15 STP forex brokers list can a big help for you to decide.