7 Best STP Forex Brokers in 2024

Broker
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  

Broker
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

Broker
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

Broker
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

Broker
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  

Broker
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 

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  

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 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. 

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 (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.

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.

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.

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.