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STP stands for Straight-Through Processing, a brokerage model that seamlessly directs client orders to big banks, hedge funds, and major liquidity providers without any manual intervention at a dealing desk.  STP brokers present traders with a unique blend – the advantages of institutional-grade direct market access wrapped in a reliable retail package. This mix of fairness, transparency, and adaptability is precisely why the STP model has become a premier choice. With many forex brokers out there, we will geniunely select the top 5 STP brokers for you based on various dimensions such as regulatory information, trading costs, trade platform execution speed, and more. 

stp-broker


7 Best STP Forex Broker

Features advanced IRESS trading platform for advanced trading experiences.

Known for tight spreads offering competitive pricing.

Fully regulated by world's top financial authorities ensures secure trading.

Offers personalized service to cater to individual trader's needs.

User-friendly platform makes trading accessible for beginners.

Broad range of trading instruments for portfolio diversification.

more

Comparison of the Best STP Forex Brokers

Forex Broker

License

Minimum Spread

Maximum Leverage

Minimum Deposit

Open account

Details

Compare

Regulated
0.0
1:500
$100
8.25
Regulated
0.5
1:2000
$5
7.86
Regulated
0.5
1:30
$100
7.53
Regulated
0.75
1:30
$10
7.89
Regulated
0.0
1:400
$100
7.74
Regulated
0.6
1:1000
$100
7.14
Regulated
0.0
1:30
$50

Best STP Forex Broker Overall

Brokers   Logos  

Why are they listed as the Best STP forex brokers?

FP Markets
fp markets

A true STP broker, routing all orders directly to liquidity providers without any manipulation.

Offering tight spreads and low commissions, making it a cost-effective option for active traders.

By avoiding a dealing desk, FP Markets delivers faster order execution.

HFM
HFM

No markups on spreads, ensuring raw prices directly from liquidity providers.

Aggregating liquidity from multiple tier-1 banks and institutions, creating a deep pool of bids and asks.

Applying a commission-based fee structure for STP accounts, no hiddden fees.

Plus500  
plus500

Highly regulated by several top-tier financial authorities,  giving traders reassurance about trading.

Recognized for its intuitive layout, easy-to-use interface, and a wide range of trading features.

Offering competitive spreads, which can help reduce the cost of trading.

eToro
etoro

✅ Heavily regulated, giving traders more trading confidence.

✅  Pioneering social trading platform sets it apart from many other brokers.

 Leveraging its STP model, eToro provides highly competitive and transparent pricing, with no hidden charges.

Eightcap
eightcap

Tight spreads, 0.6 pips on the eur.usd pair, which is significantly lower than the industry average.

Charging no transaction fees on its standard accounts.

Operating as a true STP broker, with a solid reputation

FxPro
fxpro

✅Partnering with multiple Tier-1 banks and major liquidity providers, giving access to deep liquidity pools.

Average order execution timeless than 20 milliseconds,considered fast and minimizes slippage risks.

Offering the industry-standard MetaTrader 4 and 5 platforms with full functionality and customization options.

IronFX
ironfx

Offering some of the tightest average spreads across major currency pairs compared to other popular STP brokers.

Routing orders directly to liquidity providers (LPs) via the STP model.

Online reviews for IRON FX are generally positive, with many users praising their trading service.


Overview of the Best cTrader Forex Brokers

FP Markets - Best cTrader Forex Brokers with Fast Execution

Broker

FP Markets

Regulated by

ASIC (MM license), CYSEC (STP license),

Min. Deposit

$100

Tradable Assests

Forex, Shares, Metals, Commodities, Indices, Bonds, ETFs

Currency Pairs

70+

Trading Platform(s)

MT4 & MT5, IRESS

Order Execution

Under 40 milliseconds

Leverage

1:30

Trading Fees

MT4 & MT5: Spreads from 0.0 pips, commissions at  $3.0 (each way)IRESS: $6 min, then 0.06% (brokerage fees)

Payment Methods

Neteller and Skrill, online banking including Skrill, Neteller, PayTrust, and PayPal, Bank Wire Transfer

Withdrawal Time

1 business day for most payment options, 2-10 business days via Credit/Debit Card

Copy Trading

Demo Accounts

Educational Resources

Trading Courses Videos, Webinars, Podcasts, Events, eBooks, Platform Video TutorialsTrading Glossary, and more

Bonus

Up to $800 (CPA for Affiliates)

Customer Support

7/24 Multilingual customer service


Established in 2005, FP Markets is an Australian regulated broker that has had an excellent operation for nearly 20 years, providing over 10,000 trading instruments across Forex, Shares, Metals, Commodities, Indices, Bonds, ETFs. Notably, FP Markets provide institutional grade liquidity and pricing by leveraging a Straight Through Processing (STP) model to route all client orders directly to tier-1 liquidity providers. Traders can access interbank spreads from 0 pips and fast ECN execution speeds on MetaTrader 4 and MetaTrader 5. With segregated client funds, dedicated account managers and 24/7 multilingual support, FP Markets combines the ideal blend of trading infrastructure, trust and service.


✅ Where FP Marrkets shines:

A geniune STP broker, offering truly competitive spreads in the industry;

Well-established, has operated for nearly 20 years;

Social trading solutions introduced for easier forex trading;

Robust Educational contents, covering Trading Courses Videos, Webinars, Podcasts, and more;

Both MT4 & MT5, and Iress trading platforms on offer, a strong suite;

Fast order execution, with average speed under 40 milliseconds;

7/24 customer service, Monday to Sunday


Where FP Markets Shorts :

No free sign-up bonus offered

Demo accounts incur a limited duration  


HFM - Best cTrader Forex Brokers for Beginners


Broker

HFM

Regulated by

CYSEC, FCA, DFSA,  FSA, CNMV

Min. Deposit

$0

Tradable Assests

CFDs on Forex, Commodities, Bonds, Metals, Energies, Shares, Indices

Currency Pairs

45+

Trading Platform(s)

MT4, MT5, HFM Platform

Order Execution

Fast

Leverage

1:2000

Trading Fees

Spreads from 0.6 pip, no commissions on FX

Payment Methods

Bank Transfers, Credit/Debit Cards, Cryptos, FasaPay, Neteller, PayRedeem, Skrill, BitPay

Withdrawal Time

Withdrawals instantly arrive via online payment methods, wire transfer, credit card, from 2-10 business days

Copy Trading

Demo Accounts

Educational Resources

Online Trading Courses, Educational Videos, Webinars, Seminars, Podcasts, and more

Bonus

20% Top-up bonus

Customer Support

7/24 multilingual customer service



Established in 2010, HFM (HF Markets) is a global multi-asset broker offering over 1000 trading instruments across Forex, metals, energies, indices, stocks, ETFs and cryptocurrencies. With over 2.5 million client accounts, $2 billion in client deposits and 41,000 partners, HFM provides retail and institutional clients with award-winning execution and pricing. Traders can access raw interbank spreads from 0 pips and fast order execution speeds on the popular MetaTrader 4/5 platforms, as well as its proprietary trading platform-HFM trading platform.

As an Australian STP broker, HFM is able to deliver institutional grade pricing and liquidity within a trusted marketplace, by aggregating liquidity from over 50 top-tier banks and ECNs. heir true ECN model based on no dealing desk intervention ensures complete fairness and transparency in execution with no conflict of interest.


✅ Where HFM shines:

Heavily and globally regulated, offering traders great trading confidence

Robust trading tools, including VPS, Autochartist

Innovative properietray trading platform called HFM trading platform

$0 to start real trading, friendly to novices and traders with limited capital

Generous bonuses plans, including $30 no deposit bonus

Flexible leverage ratios, up to 2000:1, good for high-frequency traders and scalpers

Copy trading feature offered

Demo accounts featuring unlimited usage


Where HFM Shorts :

Not open to all traders, HFM has restricted access

45Currency pairs tradable seems limited, could be richer


PLUS500 - Best cTrader Forex Brokers for Flexible Currency Options

Broker

Plus500

Regulated by

ASIC, FSA, CYSEC, FCA,FMA, MAS

Min. Deposit

$100

Tradable Assests

CFDs, Crypto, Indices, Forex, Commodities, Shares, Options, ETFs

Currency Pairs

70+

Trading Platform(s)

WebTrader

Order Execution

Unknown

Leverage

1:300

Trading Fees

Spreads from 0.6 pips, no commissions

Payment Methods

Visa, MasterCard, Paypal, Skrill

Withdrawal Time

1-3 business days

Copy Trading

Demo Accounts

Educational Resources

Trading Academy, News & Market Insights, Economic Calendar

Bonus

First Deposit Bonus

Customer Support

7/24


Established in 2008, Plus500 is an online trading platform that offers retail investors a diverse selection of financial instruments. These include stocks, cryptocurrencies, commodities, forex, and more, all accessible through Contracts for Difference (CFDs). Operating in multiple countries and being regulated by various financial authorities, it offers users a sense of trust and security. Traders have the option to access the platform through web and mobile applications, providing convenience for individuals interested in participating in leveraged trading across global markets.


✅Where Plus500 Shines:

A heavily regulated broker, allowing access to 28,000 markets

Global presence in 50 countries, with 25 million registered users

Free demo accounts available

Competive spreads, no commissions on FX tarding

Innovative EGS trading


❌Where Plus500 Shorts :

Higher CFD fees

A fee of up to USD 10 per month levied after three months' no trading

CFDs not for U.S. Customer


eToro - Best cTrader Forex Brokers for Crypto and Copy Trading

Broker

eToro

Regulated by

ASIC (Australia), CYSEC (Cyprus), FCA (UK)

Min.Deposit

$10

Tradable Instruments

51 Currencies, 4127 Stock, 32 Commodities, Cryptocurrency, 21 Indices, 421 ETFs, 74 Crytos

Trading Platform(s)

eToro App, Social Trading Platform

Order Execution

Instantly  

Leverage

500:1

Trading Fees

Low and transparent fees, 0% commissions on stock

Payment Methods

Credit/Debit Card, Bank Transfer, Klarna, Sofort, E-Wallets, eToro Money, Trustly

Withdrawal Time

Instant withdrawal via eToro Money, up to 2 bussiness days via other online payment options, up to 10 business days via Credit Card and Bank Transfer

Copy Trading

Demo Accounts

Educational Resources

eToro Academy, News and Analysis, eToro, eToro Plus, Retail Investor and more

Bonus

No

Customer Support

7/24


eToro is a multi-asset investment platform founded in 2007 that allows users to invest in stocks, ETFs, currencies, cryptocurrencies, and CFDs. eToro stands out for its social trading features, including CopyTrader, which enables novice investors to copy the strategies used by top performing traders on the network. Beyond accessing global markets, users also benefit from innovative offerings like eToros virtual portfolio capability that allows practice trading using real market data.

eToro operates as a Straight Through Processing (STP) broker,  passing their clients' orders directly to the interbank market. Notably,  eToro combines STP with a social trading platform, allowing users to copy trades from other successful traders.


✅Where eToro Shines:

• Access to 3,000 tradable instruments

• An execellent platorm for copy trading and crypto trading

• 0% commissions on stocks

• Advanced trading features in its mobile app


Where eToro Shorts :

• No crypto to crypto trading pairs

• Only one single account

• FX conversion, inactivity fees apply

• $5 fixed withdrawal fees


Eightcap - Best cTrader Forex Broker for Low-cost Forex Trading


Broker

  

EightCap

Regulated by

ASIC, FCA (STP), CYSEC (STP), SCB

Min. Deposit

$100

Tradable Assests

Forex, Commodities, Indices, Shares, Cryptos

Currency Pairs

40+

Trading Platform(s)

TradingView, MT4, MT5, WebTrader

Order Execution

Fast

Leverage

1:500

Trading Fees

Spreads from 0.0 pips, commissions apply

Payment Methods

Wire Transfer, UnionPay,  Skrill, Neteller, Bitcoin, Tether,  FasaPay, DragonPay, and more

Withdrawal Time

1-5 business days via Bank TransferInstantly via cryptos1 business day via other payment options

Copy Trading

Demo Accounts

Educational Resources

Trading Zone, Trading Ideas, Events and Webinars,  Trading Outlook

Bonus

Customer Support

5/24



Launched in 2009, Eightcap is an Australian regulated broker offering over 800 trading instruments across Forex, Commodities, Indices, Shares, Cryptos. Leveraging pure Straight Through Processing (STP) execution powered by Integral technology, Eightcap provides institutional grade interbank spreads from 0 pips and fast order execution speeds on the MetaTrader 4, and MetaTrader 5 platforms. Clients enjoy raw market pricing, deep liquidity and complete transparency, backed by segregated client funds, multilingual 24/5 support and a suite of advanced trading tools, premium analytics and AI powered AutoChartist technology.

To open a real trading account requires a minimum deposit of $100 with Eightcap and this broker also provides demo accounts for newcommers to test the trading platform and practice their trading skills.


✅ Where Eightcap shines:

Regulated by two tier-1 regulators, FCA and CYSEC

A genuine STP broker offering low trading costs

Robust trading platforms, includng MT4, MT5, Tradingview, ForexVPS

A high rating of 4.5 out of 5 based on 1,800 reviews


Where Eightcap Shorts :

Limited tradable products compared with other reputable brokers

Online chat can be slow and inconvenient sometimes

No copy trading solutions offered

No 7/24 customer support  


FxPro - Best cTrader Forex Broker for

Broker

FxPro

Regulated by

CYSEC, FCA

Min. Deposit

$100

Tradable Assests

Forex, Shares, Futures, Shares, Metals, Cryptocurrencies, Indices, Energies

Currency Pairs

70+

Trading Platform(s)

FxPro Trading Platform, MT4, MT5, cTrader, FxPro Trading App

Order Execution

Under 13 milliseconds

Leverage

1:500

Trading Fees

Raw spreads on the Raw account, with a commission of $3.5 per lot per side

Payment Methods

UK Entity: Bank Transfer, Broker to Broker, VISA, MasterCard, Maestro

Cyprus Entity: Bank Transfer, Broker to Broker, VISA, MasterCard, PayPal, Skrill, Neteller

Bahamas Entity: Bank Transfer, Broker to Broker, VISA, MasterCard, PayPal, Skrill

Withdrawal Time

1 working day

Copy Trading

Demo Accounts

Educational Resources

Trading Zone, Trading Ideas, Events and Webinars,  Trading Outlook

Bonus

Customer Support

5/24 multilingual customer service


Founded in 2016 FxPro is a leading global broker regulated by CYSEC and FCA offering online FX and CFD trading across Forex, index, stock, ETF and commodity markets. Traders can access over 250 instruments on fast execution platforms like MT4/5 with spreads from 0.6 pips. FxPro provides clients with deep interbank liquidity via a hybrid Straight Through Processing model that delivers transparent pricing and optimal trade execution. With 24/5 multilingual support, solid trading resources, competitive trading costs, FxPro focuses on trust, service and trading infrastructure for new and advanced traders.


✅ Where Eightcap shines:

Access to a comprehensive trading platforms suite, enjoying fast order execution

Spread betting provided, only for UK clients

86% of market orders executed at the requested price, or an even better price

Solid trading tools and resources, including Forex VPS and trading central

Featuring a client-oriented website, with 24 languages available


Where Eightcap Shorts :

Sky-high minimum deposit for the Elite account, from $30k

An inactivity fee of $10 after 6 months of no trading

No 7/24 customer services, inquiries via email not received the same day 


IronFX - Best cTrader Forex Brokers for


Broker

Iron FX  

Regulated by

CYSEC, FCA

Min. Deposit

$50

Tradable Assests

Forex, Metals, Indices, Commodities, Futures, Shares

Currency Pairs

70+

Trading Platform(s)

MT4, WebTrader

Order Execution

100 Milliseconds

Leverage

1:30

Trading Fees

Spreads from 0.0 pips, commissions apply

Payment Methods

VISA, MasterCard, Maestro, Bank Wire, Skrill, Neteller,

Withdrawal Time

Varies depending on payment options

Copy Trading

Demo Accounts

Educational Resources

Limited

Bonus

Customer Support

5/24, multilingual



Iron FX is a globally regulated broker and winner of 50+ industry awards, providing traders access to over 300 trading instruments across Forex, metals, energies, indices, equities, ETFs and cryptos. By combining true STP model with the popular MetaTrader suite, IronFX operates as a Straight Through Processing (STP) broker, a model that brings enhanced transparency and competitiveness to the trading experience.  In order to gain raw pricing, traders need to open an STP account with IronFX where institutional-grade liquidity and transparency, near instant execution speeds and spreads from 0 pips can be ensured.  


✅ Where Eightcap shines:

Regulated by CYSEC and FCA, giving traders great confidence

A trusted broker with over 10 years' well operation

Competitive spreads under the true STP model

Autotrading platform for copy trading solutions


Where Eightcap Shorts :

• Limited tradable products

Limited educational contents

No 5/24 customer support

not accepting U.S clients  


Forex Trading Knowledge Questions and Answers

What is an STP Broker?

An STP broker means a broker apply a STP model, in which directly passes client orders to large banks, hedge funds, and other major liquidity providers in an entirely automated way, with no dealing desk interference.  The STP model features price discovery, low latency execution, and transparency expected from Electronic Communication Network (ECN) trading. For savvy traders seeking pure market access, STP brokers are an ideal choice.

stp-broker


How do STP brokers make money?

STP brokers derive their primary revenue from a small markup they apply to the bid/ask spreads provided by their liquidity providers – typically major banks and financial institutions. For instance, if the interbank EUR/USD price is 1.05426 / 1.05436, the STP may quote clients 1.05424 / 1.05439 after adding a 0.5 pip markup differential. They then earn this spread markup with every client trade, which amounts to significant income over high trading volumes despite tight underlying spreads. Besides, some STPs also charge a small fixed commission per lot. 

make-money


What are pros and cons of STP trading?

Some advantages of STP model lie in: 

• Raw Spreads

By executing orders directly through liquidity pools of leading banks, STP traders can get the same raw, interbank spreads traditionally reserved for hedge funds and other institutional traders. This means savings of up to $10-20 per $100k trade.

• Speedy Execution

STP execution is fully automated so even the largest transactions are handled instantly. Traders can enter and exit positions at lightning speeds under 10 milliseconds through advanced algorithms that leverage STP connectivity. This enables better fill rates, triangular arbitrage and high frequency trades.

• Superior Liquidity

In volatile conditions like markets opening, economic releases or fast markets, well-connected STP brokers offer traders aggregated liquidity from 50+ major prime brokers, ECNs and exchanges. This ensures depth of market for all order sizes and minimal slippage on execution.


 Some disadvantages of STP model are: 

• Decreased Support

As STP brokers focus on technology rather than service, at times clients may miss having specialist traders who can provide strategic insight, portfolio guidance, tax consultation etc which full service brokers offer.

• Lacks Intervention

In exceptionally volatile sessions (like Brexit 2016), market maker interventions could temporarily narrow certain spread pairs as a gesture of support. But such intervention would be anathema for an STP broker.


STP VS ECN: What are major differences?

STP (Straight Through Processing) and ECN (Electronic Communication Network) , in forex trading, are two of the most commonly used models in the Forex trading industry, each with its own unique features and benefits.

Difference-ECN-STP

Here, let's explore their major differences:

Execution Infrastructure Varies 

STP brokers serve as conduits who route client orders directly to various liquidity providers like banks and hedge funds. For example, a client order at an STP broker Fxpro is quickly sent to Citibank, Barclays and Goldman Sachs using FIX API connectivity without manual intervention. The best price quote across these institutions is selected automatically on behalf of the client at high speeds. In contrast, ECN brokers operate on a closed electronic network that hosts an order book with tradable buy/sell quotes from all its participants. For instance, an ECN broker aggregates orders and liquidity from 10 asset managers. All participants can view and trade against each other's orders to get an execution. The ECN broker then usually charges a small fee/commission per executed trade between the buying and selling counterparties.

Pricing Model Varies 

STP brokers earn via the bid/ask spread from various liquidity providers they route the orders to. For example if the interbank EURUSD price is 1.1752/1.1760, the STP broker may apply a 0.3 pip markup by quoting the client 1.1749/1.1763 thereby capturing the spread difference. Profit margins are thin, so STP brokers focus on high volumes. ECN brokers in contrast typically charge a fixed commission fees per lot traded, such as $3.5 per 100k traded. Over this exchange fee, they also charge minimal bid/ask spread since all ECN entities can match best buyer/seller prices across their book - executing at midpoint prices frequently.

Trade Settlement Varies 

For STP brokers, trades are hedged instantly with their liquidity providers to offset price risk. In the above example, if the broker sells EURUSD to client at 1.1749, they immediately buy the pair at interbank rate to flatten exposure and earn their markup. At ECNs, buy and sell orders from clients are simply matched in their order book electronically. So buyers and sellers trade amongst each other without the ECN assuming inventory positions. Settlement is simultaneous upon execution.

Trading Rules Varies 

As STP brokers route orders directly to external liquidity providers like banks and hedge funds, often minimum trade size requirements apply based on the capabilities of providers. For instance, certain prime broker feeds at an STP may have a minimum order quantity of 100k per trade. If a trader attempted a 30k trade, it would be rejected.

ECN brokers however operate as closed environments so they can accommodate any order size - large or small. Their matching engine aggregates all client orders into a consolidated order book. Therefore, a trader can execute an order of any size (500 units or 50 lots for example) without restrictions. The ECN itself becomes the market and counterparty.

Order Types Varies  

STP brokers support complete advanced order types like Stop Losses, Limits  , Trailing Stops etc since they control the technology layer sitting between clients and liquidity. Orders are coded and sent electronically when trigger conditions are met. But occasionally ECN functionality may lack in advanced orders as coding packages vary across platforms. ECNs often transact based on simple market/limit orders. Complex order conditions become harder over decentralized matching engines. But ECN technology is rapidly improving in this respect.

Regulation Varies  

As traditional brokers providing contract-for-difference trading, STPs are commonly regulated under financial bodies like ASIC, CySEC, FCA providing oversight into operations, capital requirements and risk protocols. ECNs at times pursue more lenient classifications like Multilateral Trading Facilities (MTF) rather than formal brokerage categories. This can potentially allow them to operate with less stringent checks. But reforms like MiFID 2 have strengthened regulatory responsibility for ECNs as well.


How is STP different from market makers?

STP brokers provide direct interbank market access passes through institutional pricing from their liquidity banks, while Market makers set their own bid/ask prices and take the other side of client orders as the counterparty. With STPs, orders are automatically routed to liquidity pools for near instant fills. Market makers may intervene and face lags in illiquid conditions when hedging client orders.


Are STP brokers better for scalping?

Absolutely. The automated order routing of an STP broker ensures faster execution, which enables traders to get in and out of the market quicker to capture those small price movements. Besides, scalpers require taking many small profit trades throughout the day to accumulate gains. So low, competitive spreads become extremely vital in keeping costs minimal. STP passes on institutional spreads.

scaping


About WikiFX

On WikiFX.com, our evaluations of online forex brokers, along with their offerings and services, are derived from the data we've gathered and the informed insights and professional perspectives of our expert researchers.

We conduct a thorough review of each broker's regulatory compliance, commission rates and charges, minimum deposit needs, leverage availability, performance of the trading platform, and the speed of withdrawal processes. Through our technologically-backed assistance, we strive to ensure you have a solid understanding of these aspects.

We sincerely maintain an updated leaderboard of top brokers and offer extensive forex guides. With a catalog of over 50,000 brokers regulated by 30+ authorities,boosting confidence and simplifies trading experiences for your forex journey.

Disclaimer: All information published in this article is intended for informational purposes only, and it should not be considered as individual recommendations.



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