Last Update: March 27th, 2024

The 6 Best STP Forex Brokers revealed. We have explored and tested several prominent Forex brokers to identify the Top 6.

In this in-depth guide you’ll learn:

• The 6 Best STP Forex Brokers – a List
• STP Brokers vs. ECN Brokers
• Top STP Brokers for Beginners
• STP Forex Brokers -Explained
• Regulated STP (NDD) Forex Brokers

and much, MUCH more!

	Broker	Review	Regulators	Min Deposit	Website
🥇		Read Review	ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA	USD 100	Visit Broker >>
🥈		Read Review	FMA, FSA	USD 50	Visit Broker >>
🥉		Read Review	FSCA, CySEC, DFSA, FSA, CMA	USD 0	Visit Broker >>
4		Read Review	SFSA, FSCA, CySec*	USD 5	Visit Broker >>
5		Read Review	FCA, CySEC, FSCA, SCB	USD 100	Visit Broker >>
6		Read Review	FCA, FINMA, FSA, ASIC	USD 0	Visit Broker >>
7		Read Review	CySEC, FCA, FSA, FSCA, Labuan FSA	USD 100	Visit Broker >>
8		Read Review	Not Regulated	0.001 BTC	Visit Broker >>
9		Read Review	ASIC, CySEC, FSCA, CMA	USD 100	Visit Broker >>
10		Read Review	CySEC,MISA, FSCA	USD 20	Visit Broker >>

The 6 Best STP Forex Brokers – A Comparison

The 6 Best STP Forex Brokers (2024)

1. ☑️ RoboForex – Overall, the Best STP Forex Broker
2. ☑️ Dukascopy – Best Regulated STP Broker for Secure Trading
3. ☑️ FXPro – Pro-style Trading Experience
4. ☑️ IC Markets – Best STP Execution Speed
5. ☑️ HF Markets – Top Straight-Through Processing (STP) brokerage firm
6. ☑️ FP Markets – Best for Low Spread and 0 Pip Trading

RoboForex

RoboForex is recognized as an STP (Straight Through Processing) Forex broker, offering traders direct access to interbank liquidity.

Through its STP model, RoboForex provides rapid order execution with no dealing desk intervention, ensuring transparency and fair pricing. Traders benefit from competitive spreads, as orders are executed directly with liquidity providers, minimizing slippage and requotes.

RoboForex offers a wide range of trading instruments, including major and exotic currency pairs, commodities, and indices, catering to diverse trading strategies.  RoboForex’s STP model also provides traders with the flexibility of utilizing various trading platforms, including MetaTrader 4 and MetaTrader 5, enhancing their trading experience.

RoboForex’s offers a range of account types with different features and conditions, accommodating both novice and experienced traders.

Overall, RoboForex stands out as a reliable STP Forex broker, providing traders with access to a transparent and efficient trading environment.   RoboForex has a high trust score of 87%.

The Pros of trading with RoboForex will include:

✅ RoboForex allows trading through the Electronic Communication Network (ECN), which provides direct access to interbank markets and liquidity providers. This allows for speedy execution and competitive pricing.

✅ RoboForex provides a diverse choice of financial instruments to suit a variety of trading styles, including commodities, indices, and currency pairs.

✅ Traders have options for flexibility and modification on a variety of trading platforms, including RoboForex’s own platform, MetaTrader 4 (MT4), and MetaTrader 5.

✅ RoboForex is monitored by reputable regulatory authorities, such as Belize’s FSC, ensuring that customers trade in a safe and reliable environment.

RoboForex offers traders a wealth of educational tools, including market research, webinars, and tutorials, to help them gain the knowledge and skills needed to succeed in the financial markets.

The Cons of Trading with RoboForex may include:

✅ Even though RoboForex is regulated by the IFSC in Belize, some traders may prefer brokers subject to stricter restrictions, such as those imposed by the Australian Securities and Investments Commission (ASIC) or the Financial Conduct Authority (FCA).

✅ Depending on the withdrawal method and account type, RoboForex may charge withdrawal fees, which may affect traders’ overall profitability.

✅ Traders who do not trade on a regular basis may face inactivity fees on dormant accounts.
When compared to other brokers, RoboForex’s customer service may appear less helpful to some traders, especially on weekends or during peak trading hours.

Even though RoboForex offers a variety of trading platforms, traders may encounter limitations or compatibility issues with specific hardware or operating systems, significantly impacting their trading experience.

Dukascopy

Dukascopy Bank, a Swiss-based forex broker, operates using a unique business model that combines elements of both Straight Through Processing (STP) and an Electronic Communication Network (ECN).

Dukascopy Bank’s trading platform, JForex, connects traders directly to the SWFX Swiss FX Marketplace, which is Dukascopy’s proprietary ECN.

Through this connection, traders gain access to deep liquidity provided by numerous liquidity providers, including banks and other institutional participants.

While Dukascopy Bank utilizes an ECN model, which typically offers features associated with STP brokers such as direct market access and transparent pricing, it also acts as a counterparty to clients’ trades in some instances.

Therefore, Dukascopy Bank is often referred to as a hybrid broker, combining elements of both ECN and market maker models. This hybrid model aims to provide traders with competitive pricing, fast execution, and access to deep liquidity while also offering additional services and features.  Dukascopy has a trust score of 90%.

The Pros of Trading with Dukascopy will include:

✅ Dukascopy offers a robust trading environment, including direct access to interbank liquidity and competitive pricing.

✅ Dukascopy’s JForex platform is well-known for its dependability, quickness, and extensive trading tools, which give traders a seamless trading experience.

✅ Some traders may find Dukascopy’s customer service less responsive during peak trading hours or on weekends.

✅ Traders with dormant accounts may pay inactivity fees, which can be a problem for those who do not trade frequently.

Dukascopy may offer fewer promotional offers or bonuses than other brokers, which could be a drawback for traders seeking additional incentives.

The Cons of Trading with Dukascopy may include:

✅ Dukascopy requires a greater minimum deposit than some other brokers, which may provide a challenge for new traders.

While JForex offers a wide range of features, inexperienced traders may find it more difficult to master than other platforms.

FXPro

FxPro operates using a hybrid model that incorporates elements of both Straight Through Processing (STP) and market making. While FxPro does offer STP execution for certain account types, it also acts as a market maker for others. This hybrid model allows FxPro to cater to a wider range of traders with different preferences and needs.

For clients opting for STP execution, orders are routed directly to liquidity providers, ensuring fast and transparent order execution without the involvement of a dealing desk. This setup typically results in tighter spreads and minimal slippage, enhancing the trading experience for clients.

However, for clients trading on other account types, FxPro may act as the counterparty to their trades, effectively functioning as a market maker. In such cases, FxPro may execute orders internally, potentially leading to conflicts of interest.

Overall, while FxPro offers STP execution for certain accounts, it’s essential for traders to carefully consider the specific account type and trading conditions offered by FxPro before opening an account.  FxPro has a high trust score of 90%.

The Pros of Trading with FxPro will include:

✅ FxPro offers strong trading platforms such as MetaTrader 4, MetaTrader 5, and cTrader, allowing traders a wide range of options to meet their needs.

✅ FxPro provides tight spreads and inexpensive prices, making trading more affordable to clients.

✅ FxPro provides negative balance protection, ensuring that clients do not lose more than their deposit.

✅ FxPro is licensed by reputable regulatory bodies such as the FCA, CySEC, and DFSA, providing traders with a secure trading environment.

FxPro has access to a large amount of liquidity from prominent liquidity sources, which results in fast order execution and low slippage.

The Cons of Trading with FxPro may include:

✅ FxPro’s cryptocurrency options are somewhat limited in comparison to other brokers on the market.

✅ FxPro charges an inactivity fee for dormant accounts, which may apply to traders who trade seldom.

✅ While FxPro does offer certain teaching resources, their availability, and depth may be limited compared to other brokers.

✅ FxPro may provide fewer bonus programs than other brokers, which could be a drawback for traders seeking further incentives.

FxPro’s research tools may be less comprehensive than those of certain competitors, limiting traders’ analytical capabilities.

IC Markets

IC Markets is widely recognized as an STP (Straight Through Processing) broker. Through its STP model, IC Markets connects traders directly to liquidity providers such as banks and other financial institutions.

When a trader places an order, it is transmitted directly to these liquidity providers, ensuring fast and transparent order execution without the intervention of a dealing desk.

By operating as an STP broker, IC Markets aims to provide traders with competitive pricing, minimal slippage, and access to deep liquidity pools. This setup typically results in tight spreads and efficient order execution, enhancing the overall trading experience for clients.

In addition to its STP model, IC Markets offers a wide range of trading instruments, including Forex, commodities, indices, cryptocurrencies, and more. The broker also provides traders with various trading platforms and tools to suit different trading styles and preferences.

Overall, IC Markets’ STP model positions it as a reliable choice for traders seeking direct market access and transparent trading conditions.  IC Markets has a high trust score of 87% .

The Pros of Trading with IC Markets will include:

✅ IC Markets supports social trading systems such as ZuluTrade and IC Social.

✅ The strict regulatory structure in place at IC Markets, overseen by agencies like ASIC and CySEC, ensures a secure trading environment.

✅ IC Markets provides Islamic accounts to traders who, because of religious views, want swap-free accounts.

✅ Traders can use high leverage to boost their positions in trades (up to 1:1000).

✅ IC Markets offers fee schedules and clear trading terms.

✅ IC Markets’ partnership with numerous liquidity providers allows for competitive pricing.

✅ IC Markets protects negative balances during moments of market weakness.

✅ IC Markets’ consistent server uptime assists traders who need continuous market access.

The no-dealing-desk (NDD) approach at IC Markets helps traders by eliminating conflicts of interest.

The Cons of Trading with IC Markets may include:

• ✅ The $200 minimum deposit is far higher than that of other brokers.

The plethora of trading tools and advanced skills may dissuade new traders.

HF Markets

HFM primarily operates as a Hybrid broker, offering both straight-through processing (STP) and market maker execution depending on the account type chosen by the trader.

For accounts labeled as “Zero Spread” or “Auto,” HFM employs an STP model. This means that client orders are routed directly to liquidity providers without intervention from a dealing desk, resulting in potentially faster execution and access to competitive spreads.

On the other hand, HFM also offers accounts with fixed and variable spreads, where it may act as the counterparty to clients’ trades, thus operating as a market maker.

While HFM provides traders with access to various financial instruments, trading platforms, and account types, traders should carefully consider the specific features and conditions of each account type before opening an account. This includes understanding the execution model and its implications on trading conditions and potential conflicts of interest.   HFM has a trust score of 85%

The Pros of Trading with HF Markets will include:

✅ HFM benefits traders because it protects against negative balances and has a maximum leverage of 1:2000.

✅ HFM traders benefit from low commissions and zero pip spreads.

✅ Traders can choose between MetaTrader 4 and 5, depending on the type of account and device used.

✅ Beyond currency exchange, HFM provides a variety of other financial services.

✅ HFM provides a wide range of account, instructional, and research categories to help users of all skill levels.

Muslim traders can open Sharia-compliant, or swap-free, accounts.

The Cons of Trading with HF Markets may include:

✅ The MT4 and MT5 platforms include a lot of functionality, so new traders may need to put in a lot of effort during the setup process.

HFM likely falls behind its competitors in terms of bonus and promotional programs.

FP Markets

Through its STP model, FP Markets connects traders directly to liquidity providers, such as banks and other financial institutions. When a trader places an order, it is transmitted directly to these liquidity providers, ensuring fast and transparent order execution without the intervention of a dealing desk.

Operating as an STP broker, FP Markets aims to provide traders with competitive pricing, minimal slippage, and access to deep liquidity pools. This setup typically results in tight spreads and efficient order execution, enhancing the overall trading experience for clients.

In addition to its STP model, FP Markets offers a wide range of trading instruments, including Forex, commodities, indices, cryptocurrencies, and shares. The broker also provides traders with various trading platforms and tools to suit different trading styles and preferences.

Overall, FP Markets’ STP model positions it as a reliable choice for traders seeking direct market access and transparent trading conditions.

The Pros of Trading with FP Markets will include:

✅ Traders benefit from FP Markets’ cutting-edge technology infrastructure.

✅ FP Markets’ team of devoted and experienced professionals provides comprehensive customer assistance for traders.

✅ Traders can choose to trade with a broker licensed by international agencies like the FSA, FSC, ASIC, FSCA, and CySEC.

✅ You can improve your trading skills with FP Markets’ comprehensive array of teaching tools.
FP Markets provides numerous account kinds to cater to traders’ needs and preferences.

✅ Trading platforms such as MetaTrader 4, cTrader, IRESS, and MetaTrader 5 provide powerful analytical and charting features.

✅ FP Markets offers a diverse international market network, allowing traders to adapt their trading tactics to numerous asset classes.

FP Markets continues to offer competitive spreads and minimum commission policies.

The Cons of Trading with FP Markets may include:

✅ Because of FP Markets’ global reach, there may not be as much support for all local payment methods.

✅ FP Markets may have a diverse product offering, but other traders may be more interested in niche or local markets.

FP Markets calculates withdrawal costs for a wide range of payment options.

What is an STP Forex broker?

An STP (Straight Through Processing) Forex broker is a financial intermediary that electronically connects traders directly to the interbank market. By seamlessly executing trades without intervention, STP brokers offer rapid order execution and access to liquidity providers, ensuring transparent pricing and minimal conflict of interest, enhancing traders’ experience.

In Conclusion

Overall, selecting the best STP Forex broker involves careful consideration of factors such as transparency, order execution speed, pricing, and regulatory compliance. Traders should prioritize brokers that offer direct market access, competitive spreads, and reliable execution to enhance their trading experience and achieve their financial goals effectively.

Addendum/Disclosure:  No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.

Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all investors.   Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.

Frequently Asked Questions

What is an STP Forex broker?

An STP (Straight Through Processing) Forex broker is a type of brokerage that electronically connects traders directly to the interbank market. Through this model, orders are executed without intervention, providing transparent pricing and rapid order execution.

How does trading with an STP broker differ from other broker types?

Unlike market maker brokers, where the broker acts as the counterparty to trades, STP brokers route client orders directly to liquidity providers. This setup typically results in tighter spreads, minimal slippage, and greater transparency in pricing.

What are the advantages of trading with an STP broker?

Trading with an STP broker offers several benefits, including direct market access, competitive pricing, fast execution speeds, and access to deep liquidity pools. Additionally, STP brokers often have lower conflict of interest compared to market maker brokers.

Are there any drawbacks to trading with an STP broker?

While STP brokers offer many advantages, traders should be aware that they may encounter higher trading costs compared to market-maker brokers. Additionally, some STP brokers may require higher minimum deposit amounts or have fewer account types available.

How can I identify a reputable STP Forex broker?

To identify a reputable STP Forex broker, traders should look for brokers that are regulated by reputable financial authorities, offer transparent pricing and execution, have a strong reputation in the industry, and provide excellent customer support. Conducting thorough research and reading reviews from other traders can also help in selecting a reliable STP broker.