STP Forex Broker

5 best STP Forex brokers – Comparison and list for traders

5 best STP Forex brokers

The forex trading market is burgeoning. And not without good reason.

STP brokers are legion and popular with forex traders who want transparency and don’t like paying commission fees or receiving requotes.

Unfortunately for forex traders, the field is densely packed with brokers using straight-through processing. As you would expect, some are better than others. Some go the proverbial “extra mile” by offering features, innovations, and superior service touches that show they genuinely care about their clients. Others maybe not so much.

Who`s best for STP?

To help you machete a path through the undergrowth of STP forex brokers, we have compiled a review of the 5 best. There are hundreds to go through. However, we ran our discerning rule over the best of the bunch. We whittled down to a shortlist of five using the criteria you would use.

What we present here are the five STP forex brokers we consider to be exceptional. They are all different. Some are better suited to experienced forex traders. Some made it onto our review because they do a first-class job supporting forex beginners and honing their trading skills.

They all have one thing they share, though, a commitment to transparency and doing their best for their clients, regardless of their trading volume.

5 best forex STP brokers:

  • RoboForex – is the definite contender for the top spot
  • XTB – Relies on its in-house developed platform
  • Vantage FX – Award-winning flexibility
  • FxPro – Good for beginners
  • FP Markets – Great Credentials

What is STP (Straight Through Processing)?

Before jumping straight into our STP forex broker guide, it is a good idea that we first nail down what STP means.

It’s an automated electronic money transfer process that does not require human intervention. It is faster than going through the traditional banking system. You have probably heard of ACH and SWIFT; STP is an upgrade that streamlines the process by doing away with entering payment and routing information manually.

In forex, brokers use STP to transfer all customer orders directly to their liquidity provider. It is essentially a means of transferring the inherent risk involved.

Say, for example, you decide to buy 2 lots of EUR/USD. When you placed the order, your broker did the same with their liquidity provider.

The liquidity provider offers your broker premium spreads, who then markup this spread to the customer. The difference in the spread between the liquidity provider and the broker price is how they earn a crust.

Let’s imagine that a forex broker is applying a 1 pip spread markup on Euro/US dollar pairs with 200 clients who are trading ten times daily. The broker potentially stands to earn around 2,000 pips every day.

Forex traders often deal with STP because they can be confident there’s no price manipulation going on behind the scenes.

1. RoboForex

The official website of RoboForex

Established in 2009, the trajectory of RoboForex has been steeply upward ever since.

Today, this Belize-regulated forex broker has more than 800,000 clients from 169 countries on the books. Not too shabby by any measure.

The success of RoboForex has not gone unnoticed by the industry. In 2020 alone, RoboForex collected six prestigious industry awards to underline its stellar performance. Like Andrei Kulebin, the world-class kickboxing and Muay Thai champion that they sponsor, RoboForex is no stranger to picking up titles in the face of fierce competition.

RoboForex logo

Among their haul of silverware, last year was the Most Trusted Broker in International Business Magazine Awards, Most Transparent Asian Forex Broker in the Global Forex Awards retail category, and Best Global Mobile Trading App in the Global Forex Awards B2B category.

Offshore regulation aside, RoboForex appears to be a relatively safe bet as client funds are kept in segregated trading accounts, and they have negative balance protection. They have, in addition, signed up for the Financial Commission’s Compensation Fund. Furthermore, their order executions are audited by Verify My Trade. They also have Civil Liability insurance against fraud, errors, omissions, negligence, and other risks that could potentially lead to financial loss for clients.

As STP brokers go, RoboForex is an intriguing proposition. Firstly, until the end of 2021, RoboForex is running a promotion on Prime Accounts with no minimum deposit, increased leverage of up to 1:300, and spreads down to zero pips.

While Prime is the most popular choice for advanced traders, it is just one of a raft of account types on offer. Pro and experienced traders should investigate the ECN and R Trader accounts, respectively.

Beginners, as well as those with forex experience, are better off with a Pro-Cent or Pro-Standard account.

Benefits of RoboForex:

  • Spreads from zero pips
  • Leverage of up to 1:2000
  • Trade more than 40 currency pairs
  • MetaTrader 4 and MetaTrader 5, cTrader, RTrader, RWebTrader, plus CopyFX
  • Multiple account types
  • Low initial deposits
  • Promotions and bonuses
  • Regulated by IFSC Belize

(Risk warning: Your capital can be at risk)

2. XTB

The official website of XTB

Would you base your forex trading platform decisions on the word of a football manager? Admittedly, a highly successful one, to be fair.

XTB seems to think so. They have brought José Mourinho into their squad as a Brand Ambassador.

Putting footballing metaphors on the bench, for now, XTB is an STP broker that was always going to book a place in our forex guide.

Though relatively latecomers, they were founded in 2016; XTB has made some significant inroads into the market and picked up some critical industry awards along the way.

Unlike other forex brokers, they have opted not to adopt MetaTrader. Instead, they have developed their in-house platform, which has been recognized for its ease of use and speed. It is now in its fifth iteration and is also available as a mobile app.

XTB Logo
XTB Logo

However, it would be best if you did not let this put you off too much. XTB demo account that gives you four weeks of risk-free fantasy trading with £100,000 virtual funds, with tight spreads from 0.2 pips and 1:30 leverage. Hopefully, a month should be long enough to get a handle on the X-Station and try out some forex trading strategies before committing to a live account.

Where XTB also excels is in its commitment to learning and training, regardless of your level of forex trading experience. The courses are pitched at basic, intermediate, and expert levels, with a handy search by the subject tool. XTB also offers premium content in their Trading Academy, but you need to open a live account to access this.

Benefits of XTB:

  • One of the largest forex brokerages
  • Multiple award winner
  • Highly regulated
  • 15 years’ worth of experience and offices in 13 countries
  • 24/5 customer support
  • Extensive training resources for beginners and experienced traders
  • Easy-to-use platform
  • Fast execution speeds

(Risk warning: 72% of retail CFD accounts lose money)

3. Vantage FX

The official website of Vantage FX

As credentials and pedigree go, you are onto a winner with Vantage FX.

They are well regulated, committed to compliance, strictly audited, and keep all client funds in a segregated National Bank of Australia account.

When you look closely, there are many great reasons to go with Vantage FX.

Their technology to execute orders is lightning fast for starters, and the platform runs MetaTrader 4 and 5, two industry standards that are familiar to many forex traders by now.

But if you need further compelling evidence, try considering that, as well as forex, you trade indices, shares, commodities, and cryptos and gain access to exclusive Vantage FX promotions. And it is not just us lauding this Australian forex broker; the industry is doing so too. Last year, Vantage FX picked up M & A Today’s Financial Trading Services Provider of the Year – Australia and scored two wins in Global 100 Awards, collecting the honors in the Best MT4/MT5 Broker and Lowest Trading Costs categories.

The official logo of VantageFX

There isn’t very much to dislike about Vantage FX. It carries Indemnity Insurance to cover client losses in the event of them screwing up big time. And they get their liquidity from some of the biggest names in the business, including JP Morgan, Citibank, Goldman Sachs, and Bank of America, among others.

Signing up for an account gets you trading with up to 40 currency pairs, with spreads from 0.0 pips. There are nine ways you can connect to Vantage FX, so it’s unlikely you won’t have a suitable device to trade 24 hours a day.

Benefits of Vantage FX:

  • Award-winner with a decade of experience
  • Zero deposit fees
  • $200 Vantage FX minimum deposit
  • Leverage up to 1:500
  • Spreads from 0.0
  • MetaTrader 4 and 5
  • Strong background
  • Transparent

(Risk warning: Your capital can be at risk)

4. FxPro

The official website of FxPro

Don’t be dissuaded by the name. FxPro is for everyone; the pro part relates to their mission statement of enabling people to trade like a professional while on the go.

You can be assured FxPro knows what it is doing, as they have been around since 2006. You don’t achieve that level of longevity without some serious hard work and thought being expended on your service offering.

It shows too. As part of the FxPro drive to have the broadest possible appeal, FxPro has invested in training and learning resources. Even if you have dabbled in forex before or are a complete novice in the arena, taking a swing by FxPro’s training section is highly recommended. You don’t even need to register. Courses are pitched at beginner and advanced levels, which is excellent as you are never done learning about forex. You can never know enough, and there’s always something new to learn every day.

The official logo of FxPro

This commitment to learning is just as well if you are a beginner. FxPro gives their users multiple choices in account types and platforms, namely MetaTrader 4 and 5, cTrader, and FxPro’s in-house developed platform, FxPro EDGE.

All five account types are platform-centric. With so many choices, the FxPro website makes life a little easier with a side-by-side comparison. However, though FxPro uses STP technology, they classify themselves as Non-Desk Dealing as it better reflects their order execution method. The upshot is that there are virtually no requotes and no human intervention that can affect the price.

Their operations are well regulated, with their various entities being licensed in Cyprus, the UK, the Bahamas, and South Africa.

Benefits of FxPro:

  • Excellent learning resources
  • Trade over 70 forex pairs
  • Choice of four trading platforms
  • Well regulated
  • Ultra-fast order execution
  • Retail and institutional clients in 170 countries
  • Negative balance protection
  • Fully segregated client funds

(Risk warning: 72.87% of CFD accounts lose money)

5. FP markets

The official website of FP markets

As a global forex broker who won multiple industry awards (four times winning Best Trade Execution) and has the cutting-edge tech, FP Markets was always on our mind when compiling this review.

With a $100 FP markets minimum deposit and access to leverage of up to 1:500, they were always going to be difficult to leave out. But be assured that FP Markets got into our top 5 best forex STP broker reviews on merit rather than sentiment.

As well as the iconic software that is MetaTrader 4 and 5, FP Markets also offer WebTrader and a brand new mobile app to ensure you can connect to your trading dashboard wherever you happen to be.

The official logo of FPMarkets

Interestingly, they have also added Iress, a new and comprehensive active trading platform replete with advanced features. When logged into the Iress platform, you have the option of Iress Trader or Iress ViewPoint to work with. The latter gives you 360-degree data coverage to help make the most of forex trading opportunities via Iress Trader as soon as they arise.

Boldly, perhaps, FP Markets state that Iress ViewPoint is the future of online trading. Time will tell if they are correct. You can trade forex on the Iress platform, but FP Markets don’t overtly spell that out. Possibly this is because the minimum balance is $1,000 for the Standard account, $25,000 for the Platinum account, and $50,000 for the Premium account.

However, there is a brace of forex-dedicated accounts to look at instead. Both require only a starting balance of $100 and provide trading with leverage of up to 1:500.

Benefits of FP markets:

  • Trade 60 plus currency pairs
  • Spreads from 0.0 pips
  • Fast order execution speed
  • Tier one regulated
  • Good liquidity
  • Allows auto-trading
  • Multilingual support 24/5
  • Personal account managers

Who are the best STP forex brokers?

We have rounded up the five best brokers in this review. Namely, RoboForex, XTB, Vantage FX, FxPro, and FP Markets. However, bear in mind that it spans more than just order execution speed. Several other variables are to consider, including forex trading experience, trading goals, personal preferences, etc. In this guide, we have strived to come up with the 5 best all-rounders, with an appeal for forex newbies and more experienced trading hands.

Do STP brokers issue requote?

Due to the way STP forex brokers operate, there are no requotes. An STP Forex broker does not set forex buy and sell prices or hold liquidity. The forward positions to liquidity providers who buy and sell for them.

Do STP brokers charge commissions?

STP brokers make their money by adding one pip to the market-set spreads. Generally, they do not add a commission fee; in essence, you pay a flat fee for their services. As a result, trading costs and pricing are transparent and upfront. You know in advance what you will be paying. No commission accounts are, therefore, convenient and easy to manage, making them good choices for forex beginners.

What is an NDD forex broker?

A Non-Dealing Desk broker is very similar to STP. There’s no human intervention required to execute an order. NDD forex brokerage is plugged straight into the interbank market. There is no price requotes, and generally, the spreads are noticeably lower. However, as the spreads are not fixed, they can be volatile. An NDD broker will charge a commission fee on each trade or increase the spread.

Thumbs up - White hand in a green circle

Conclusion – Pick one of the 5 best STP forex brokers!

The term ‘best’ is a slippery notion. It is arguably one of the most subjective ideas there is. One person best may be the polar opposite of another person. With this in mind, we ambitiously reviewed who we considered the top dogs of STP forex brokers.

We looked at who offered the best trading conditions, transparency, security, and reliability. What we arrived at, in our opinion, are the five STP brokers that stand out as good all-rounders for both inexperienced and experienced forex traders. All five have that intangible X factor that sets them apart from their peers in the forex brokerage world.

Our depth of knowledge and expertise has narrowed down the field to a handful. We understand that researching forex brokers is a laborious and often time-consuming task. So to help you out in your forex trading journey, we present our showcase. We are confident that this handful is the best and that you’ll find the forex broker that is a perfect fit.

No matter where you are on your forex journey, we have the ideal STP forex broker waiting for you at the beginning or somewhat down the road.

FAQ – The most asked questions about  STP Forex brοkеrs : 

Arе STP Forex brοkеrs safе and secure?

STP Forex brοkеrs tеnd tο bе safе fοr thе mοst part duе tο thе influеncе οf thе financial sеctοr cοnduct authοrity. All brοkеrs οpеratе in accοrdancе with a rеgulatοry authοrity in thе financial markеts which еnsurеs thе prοtеctiοn οf invеstοrs’ intеrеsts. STP brokers are safe and secure.

Why straight thrοugh prοcеssing (STP) Forex brοkеrs nееds tο bе rеgulatеd? 

Describing the answer in detail. A rеgulatеd Straight Thrοugh Prοcеssing (STP) Forex brοkеr lοwеrs yοur risk. Brοkеr rеgulatiοn prοtеcts cοnsumеrs. Tοο littlе brοkеr rеgulatiοn can lеad tο pοοr sеrvicеs and pοssibly financial harm. Straight Thrοugh Prοcеssing (STP) brοkеrs arе rеgulatеd tο stοp fraud. Thе agеnt’s wοrking capital and cliеnts fundеd accοunt havе tο bе sеparatеd. 

What is thе bеst STP Forex brοkеr?

Thе bеst STP Forex brοkеr is Rοbοfοrеx. Wе cοnsidеr Rοbοfοrеx οnе οf thе bеst STP brοkеrs bеcausе Rοbοfοrеx is activеly usеd by οvеr 10000 activе tradеrs. Rοbοfοrеx is rеgulatеd by tiеr 1 financial rеgulatοrs including International Financial Services Commission (IFSC). Rοbοfοrеx wеrе fοundеd in 2009 and havе a hеadquartеrs in Cyprus. You can οpеn a livе trading accοunt with Rοbοfοrеx with as little as a 1 min dеpοsit. This is the only best STP broker.

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