10 Best STP Brokers Reviewed for 2024

Straight Through Processing (STP) brokers directly route forex orders to liquidity providers. This usually means competitive spreads and premium liquidity across the most popular currency pairs. Most importantly, STP brokers never trade against their clients.

In this guide, we rank and review the 10 best STP brokers for 2024. We compare STP accounts for commissions, spreads, minimum lot sizes, supported markets, safety, and other important factors.

Best STP Forex Brokers Reviews

Read on for our in-depth reviews of the best forex STP brokers.

1. BlackBull Markets – 0% Commission Accounts With Tight Spreads and No Minimum Deposit  

BlackBull Markets is the first STP broker to consider. Like many brokers, BlackBull Markets utilizes a hybrid model, meaning it offers ECN prices but orders are processed via the STP network. This means you get competitive spreads, premium liquidity, and most importantly – no conflict of interest. BlackBull Markets offers two account types to choose from, which determine your pricing structure.

First, there’s the standard account, which offers commission-free trading on all supported markets. Major pairs can be traded with spreads of 0.8 pips, which is competitive. This account type comes without a minimum deposit requirement, so is ideal for beginners. Alternatively, experienced forex traders might prefer the prime account.

This comes with a minimum spread of 0.1 pips on major pairs. It also comes with a commission of $6 per traded lot. The prime account has a high minimum deposit of $2,000. Both BlackBull Markets accounts offer leverage of up to 1:500. However, lower limits are offered to traders in some regions, such as the European Union, Australia, and the UK.

BlackBull Markets supports thousands of financial instruments. This includes over 70 currency pairs, commodities, stocks, futures, and indices, BlackBull Markets also supports the best cryptocurrencies. This includes Bitcoin, XRP, Dogecoin, Litecoin, and Ethereum. BlackBull Markets supports plenty of trading platforms, including MT4, MT5, and TradingViews.

It also has a proprietary trading platform, available on web and mobile browsers. Before making a deposit, you might consider opening a free demo account. This comes with $100,000 in paper funds and remains active for 30 days. When you’re ready to add some funds, BlackBull Markets accepts debit/credit cards, e-wallets, and bank wires.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors.

2. Admiral Markets – STP Accounts With Zero Spreads and Commissions Starting at $1.80 per Lot 

Admiral Markets is one of the best STP brokers for MT4 trading. It also offers very competitive fees. For example, the Zero.MT4 account comes with minimum spreads of 0.0 pips on major pairs. Commissions start from just $1.80 per traded lot, but can rise to $3 on some currency markets.

The second option – which is aimed at casual forex traders, is the Trade.MT4 account. This offers slightly wider spreads, starting at 0.5 pips. However, this account type comes without trading commissions. Admiral Markets has a very low minimum deposit requirement of just $25.

Moreover, the minimum trade size is 0.01 lots. Both of the MT4 accounts we discussed offer leverage of up to 1:500, but limits depend on your country of residence. Admiral Markets also offers one of the best forex demo accounts. It’s free to open and mirrors live trading conditions. What’s more, the demo account comes with real-time financial news and market insights.

In terms of supported instruments, Admiral Markets covers over 4,000 assets. This includes over 80 forex pairs, stocks, indices, ETFs, commodities, and bonds. Admiral Markets also offers educational tools, allowing you to learn and trade at the same time. This covers trading guides, courses, and webinars.

Investments involve risks and are not suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

3. Vantage Markets – STP Accounts Offer 0% Commission Trading Without Minimum Deposit Requirements

Vantage Markets is also one of the best STP brokers to consider today. This broker will appeal to casual traders who want competitive fees and low account minimums. For example, the STP standard account offers 0% commission trading on all supported markets. The minimum spread on major currency pairs is 1 pip.

Vantage Markets has a minimum deposit requirement of just $50, appealing to those on a budget. The STP standard account supports two desktop trading platforms – MT4 and MT5. Alternatively, you can also connect your account to the Vantage Markets mobile app for iOS or Android. Vantage Markets is particularly popular with iOS users – the app has a rating of 4.9/5.

When it comes to payments, Vantage Markets supports multiple e-wallets – including Skrill and Neteller. Funds can also be deposited via debit/credit cards and bank wires. First-time traders might consider the Vantage Markets demo account. This comes with $100,000 in virtual funds and is completely risk-free.

Although the demo account expires after 30 days, those with an active balance get unlimited usage. Vantage Markets offers just over 40 pairs, which is fewer than most other STP brokers. That said, the platform also supports stocks, ETFs, bonds, commodities, cryptocurrencies, and indices.

Trading derivatives carries significant risks

4. HF Markets – Popular Forex Broker With 0.0 Pip Spreads and No Markups

HF Markets is a popular forex broker that supports over 50 currency pairs. Traders will also find other asset classes, including commodities, indices, stocks, ETFs, and bonds. HF Markets also supports Bitcoin and some of the best altcoins. The best option at HF Markets for STP trading is the zero account.

This executes orders directly from liquidity providers, meaning no hidden markups. Moreover, this account type offers competitive spreads that start from 0.0 pips on major perks. Like most zero-spread accounts, there’s a trading commission to pay. This mirrors the industry average at $3 per traded lot, per slide.

The minimum trade size is 0.01 lots and you can get started with any account balance. Leverage of up to 1:2000 is offered by HF Markets, depending on which regulator you’re covered by. Another benefit of the zero account is it offers swap-free trading. This will appeal to swing traders who prefer keeping positions open for longer periods.

In terms of platforms, the zero account can be used on MT4 or MT5. HF Markets also offers VPS hosting, which is compatible with both MetaTrader platforms. This allows traders to deploy automated forex robots 24/7. HF Markets is considered a safe option for forex traders; it has over $2.5 million client accounts and is licensed in multiple jurisdictions.

Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital.

5. Swissquote – Publicly Listed Forex Broker With Tier-1 Liquidity and Multiple Account Types

Swissquote is a regulated forex broker with a public listing on the SIX Swiss Exchange – Europe’s third-largest stock market. It offers a safe and secure forex trading experience in a transparent environment. There are multiple accounts to choose from at Swissquote and all utilize the STP execution model. First, the standard account offers commission-free trading, but minimum spreads start at 1.7 pips.

This requires a minimum deposit of $1,000. The premium and prime accounts also offer commission-free trading, with slightly lower spreads. This starts at 1.4 pips and 1.1 pips respectively. However, these accounts require a minimum deposit of $10,000 and $50,000. All Swissquote accounts offer leverage of up to 1:100 to eligible clients.

Expert advisors (EAs) are not only permitted but can operate efficiently on Swissquote; the average execution speed is just 9 milliseconds. Moreover, Swissquote has a 98% fill rate, and 62% of positions avoid slippage. This is because Swissquote deals with tier-one banks and regional liquidity providers.

Swissquote supports more than 80 currency pairs, covering majors, minors, and exotics. Its forex trading suite operates 24/5, in line with the broader markets. Swissquote also supports forex options. Compatible strategies include vertical spreads, straddles, strangles, and covered calls.

Trading foreign exchange, spot precious metals and any other product on the Forex platform involves significant risk of loss and may not be suitable for all investors

6. FxPro – True No Dealing Desk Broker With STP Technologies

Although FxPro uses STP technologies, it defines itself as a ‘true’ no dealing desk execution broker. This means that traders get the best of both worlds. FxPro’s STP processes ensure traders deal directly with tier-one liquidity providers. Moreover, it executes client orders without any intervention or markups.

In other words, you’ll get the best spreads available in full transparency. In terms of minimum spreads, this varies depending on the account type and the pair. We found that the MT4 raw account offers the best spreads – EUR/USD averages just 0.05 pips. This account type comes with a commission of $3.50 per traded lot, per slide.

FxPro also offers fixed spreads. Although these are higher than the raw account, they come without commission. Plus, fixed spreads allow traders to manage their trading costs in advance. All account types at FxPro support over 70 forex pairs, including all majors and minors. FxPro also supports commodities, cryptocurrencies, indices, and futures. Stocks from the US, UK, and Europe are also available.

CFDs are complex instruments and come with a high risk of losing money due to leverage.

7. OctaFX – STP/ECN Hybrid With No Requotes and Spreads From 0.6 Pips

OctaFX is another popular forex broker that utilizes a hybrid model. This combines ECN pricing with STP execution processes, ensuring that traders are never exposed to requotes. On the contrary, OctaFX simply forwards orders to its liquidity providers. It doesn’t need to add a markup on spreads, as liquidity providers pay OctaFX a commission.

All buy and sell orders are executed transparently, so traders know exactly what they’re paying in real-time. In terms of minimum spreads, this starts at 0.6 pips on major pairs. Crucially, there are no trading commissions to pay, so OctaFX is considered cost-effective. Moreover, there is a small minimum deposit requirement of just $25.

We like that OctaFX supports three trading platforms. In addition to its native web platform, this includes MT4 and MT5. That said, OctaFX supports just 32 currency pairs. This means you’ll have limited access to exotic currency markets. Nonetheless, OctaFX also supports selected commodities, indices, and cryptocurrencies. When opting for MT4, stocks can also be traded.

Forex margin trading involves risks associated with changes in political conditions, economic factors, acts of nature, and other factors.

8. ActivTrades – Get the Best Available Market Prices Without Requotes or Order Rejections

Next up is ActivTrades – which also utilizes an STP/ECN hybrid model. This established broker – which was founded in 2001, never executes positions with requotes or rejects orders. Whatever price it gets from its partnered liquidity providers is passed directly onto traders. ActivTrades doesn’t charge trading commission either, so it’s only the spread that needs to be covered.

The minimum spread on EUR/USD is 0.5 pips, which is very competitive. That said, spreads can be very volatile outside of busy market hours. For example, the EUR/USD spread is currently fluctuating between 0.6 pips and 1.3 pips. This is a drawback, especially for scalpers and high-frequency traders who rely on ultra-thin margins.

Nonetheless, we like that ActivTrades offers negative balance protection and is regulated in five different jurisdictions. Moreover, ActivTrades has an ‘Excellent’ rating on TrustPilot. In addition to forex, ActivTrades also supports stocks, indices, commodities, ETFs, bonds, and some of the best cryptocurrencies to trade.

81% of retail investor accounts lose money when trading CFDs with this provider.

9. Global Markets Group – 600+ Liquidity Providers and Spreads Starting From 0.0 Pips

Global Markets Group – considered one of the best MT5 brokers, has partnered with over 600 liquidity providers. Traders can access forex pairs without requotes, price manipulation, or internal dealing desks. Global Markets Group simply provides intermediary services between liquidity pools and traders.

It offers super-competitive EUR/USD spreads that start from 0.0 pips and average 0.2 pips. There’s a standard commission of $3.50 per traded lot, per slide. Global Markets Group utilizes a first-in, first-out policy – making it ideal for hedging strategies. Moreover, scalpers and high-frequency traders are also catered for – average latency speeds are just 1 millisecond when using a VPS.

The main drawback is that Global Markets Group only supports the MT5 platform. Nonetheless, traders have access to 71 currency pairs on a 24/5 basis. Leverage is capped at just 1:30 for retail clients, but professional traders will get higher limits. Another drawback is that Global Markets Group only accepts bank wires – meaning no debit/credit cards or e-wallets.

74% of retail investor accounts lose money when trading in CFDs with this provider.

10. Forex4You – No Requotes, Floating Spreads From 0.1 Pips and Leverage of up to 1:1000

Launched 16 years ago, Forex4You is an established forex broker. It offers STP accounts that come with minimum floating spreads of just 0.1 pips. There are no pricing requotes and the minimum trade size is just 0.01 lots. Moreover, the average execution speed is just 0.53 seconds.

That being said, Forex4You charges a commission of $8 per lot – which is well above the industry average. There isn’t a minimum deposit requirement at Forex4You, which will appeal to beginners. Furthermore, Level 2 data is provided, giving traders a 360-degree overview of market depth.

Forex4You is also one of the best high-leverage brokers. Eligible traders can get leverage of up to 1:1000. Forex4You supports over 50 currency pairs, plus commodities, indices, and stocks. We like that Forex4You offers a native trading platform for desktops, mobiles, and browsers. It also supports MT4 and MT5.

Trading on the Forex market involves significant risks, including complete loss of funds.

Why Use an STP Forex Broker?

We’ll now take a closer look at the benefits of using an STP forex broker.

No Dealing Desks 

STP brokers allow you to avoid dealing desks. For those unaware, dealing desks are usually implemented by market maker brokers that offer 0% commission trading. Instead of obtaining forex quotes and spreads from the broader markets, dealing desks create their own order books. This is very problematic for several reasons.

• For a start, dealer desks are known to trade against their own clients.
• This means that the broker will take the opposite position and offset the risk with its partnered liquidity providers. As such, the broker maximizes their profits when you lose.
• The result is that you’ll often get unfavorable spreads when using a broker with an internal dealing desk.

The good news is that there’s no conflict of interest when using an STP broker. Although you might experience markups and/or commissions, STP brokers never have their own dealing desk. This means that you can trade in fair and transparent market conditions – something that’s crucial in the global forex market.

Faster Execution Speeds

Short-term traders favor STP brokers because they typically offer faster execution speeds. The reason for this is that the best STP brokers use multiple liquidity providers. These are often tier-one institutions like banks and currency exchange dealers. As such, execution speeds are often in the milliseconds.

In particular, this is an important metric for scalpers and high-frequency traders, which often keep positions open for seconds, rather than minutes or hours. In contrast, market makers with dealing desks often utilize their own liquidity. This means that positions are often delayed or worse – rejected.

Competitive Spreads

Some STP brokers offer competitive spreads, but this can depend on the specific execution model. For example, if the STP broker uses a hybrid system, it might have access to ECN pricing. This means that forex quotes are obtained from the Electronic Communications Network, which is used by banks and institutional traders.

As such, STP/ECN hybrids offer spreads that reflect market forces, rather than an external liquidity provider. The only difference is that STP accounts won’t directly be buying and selling pairs with other market participants, as is the case with ECN brokers. Instead, STP brokers still route orders on their client’s behalf.

How to Pick an STP Broker for Trading

Still not sure how to choose the best STP broker for you? Below, we explore the most important factors to consider when selecting an STP account.

Regulation and Licensing 

Before looking at spread markups, commissions, and other metrics, it’s important to check the regulatory status of the STP broker. Under no circumstances should you trade with an unregulated platform. Nor should you use one that’s solely licensed in a country with weak regulatory standards.

Instead, traders should focus on STP brokers that are regulated by tier-one licensing bodies. Examples include the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Commodity Futures Trading Commission (CFTC).

• These licensing bodies have very strict guidelines, especially when it comes to consumer protection.
• For example, the CFTC states that client funds should always be segregated from the brokers’ own accounts. This protects your capital in the event of a brokerage collapse.
• Similarly, FCA guidelines require STP brokers to clearly display risk warnings, alongside the percentage of traders that lose money.

There are many other examples of how tier-one licensing bodies keep you safe. The key point is that without a reputable regulator watching over the STP broker, you can never be sure you’re trading in a secure environment.

Spreads and Commissions

The best STP brokers offer competitive trading fees. There are two ways that STP accounts can be charged – spreads and commissions.

We found that some providers charge a combination of the two. Alternatively, you might have the choice of two pricing models, depending on your trading objectives.

• For example, standard STP accounts at BlackBull Markets offer 0% commission trading and minimum spreads of 0.8 pips.
• While STP prime accounts come with a $6 commission per lot and minimum spreads of 0.1 pips.

If you’re trading large amounts, it’s always best to take lower spreads with a flat commission. However, casual traders should take a commission-free account with a slightly higher spread. This is because, even with a markup, the higher spread is likely to be lower than the flat commission.

It’s also worth exploring hybrid brokers that use ECN pricing but with an STP execution model. This means you’ll get the same currency exchange rates as banks and other financial institutions. But you won’t be trading with market participants, as orders are sent straight to liquidity providers.

Deposit and Trading Minimums 

Traders should also check what account minimums are stipulated by the STP broker. For example, most STP brokers have a minimum deposit requirement – which can vary widely.

• For example, there’s no minimum deposit requirement at HF Markets.
• However, Swissquote has a minimum requirement of $1,000. This might be too high for casual forex traders who are just starting out.

In addition, check the minimum trade size required by the STP broker. In the vast majority of cases, this will be 0.01 currency lots (about $1,000). However, some STP brokers – especially those aimed at professional traders, might require a full currency lot. This means a minimum trade of $100,000.

Trading Platforms 

It’s also important to check what trading platforms the STP broker supports.

The majority of STP accounts are compatible with MT4 and MT5. These are third-party platforms that connect to hundreds of brokers. They come with lots of charting features, such as indicators and drawing tools – not to mention advanced order types. Moreover, both MT4 and MT5 support forex EAs, which are automated robots.

Some STP brokers also have their own proprietary trading platforms. It’s worth seeing what trading tools these support and whether they’re suitable for your skill set.

Leverage 

If you’re based in a country with strict regulations on leverage, you’ll be limited no matter which STP broker you use.

• For example, the European Securities and Markets Authority (ESMA) limits retail clients to leverage of 1:30 on major pairs, and 1:20 on minors and exotics.
• The exact same leverage limits are implemented by the FCA on UK traders.

However, outside of tier-one trading zones, there are rarely any leverage restrictions in place. This means that the best STP brokers offer much higher limits to retail clients.

For example, HF Markets offers leverage of up to 1:2000 on major pairs. This means for every $100 in your brokerage account, you could place a forex position worth $200,000. That’s two full currency lots.

Conclusion 

In summary, STP brokers route currency orders directly to liquidity providers, ensuring that there’s no conflict of interest. We found that BlackBull Markets is a good choice for forex traders.

It offers two STP accounts with competitive fees, leverage of up to 1:500, and support for over 70 currency pairs. What’s more, BlackBull Markets is compatible with several popular trading platforms, including MT4, MT5, and TradingView.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors.

References  

• https://www.six-group.com/en/products-services/the-swiss-stock-exchange.html

• https://www.tradingview.com/markets/currencies/rates-exotic/

• https://eur-lex.europa.eu/EN/legal-content/glossary/electronic-communication-networks.html

• https://www.cftc.gov/IndustryOversight/Intermediaries/FCMs/fcmsegregationfunds.html

• https://www.handbook.fca.org.uk/handbook/COBS/22/?view=chapter

• https://www.bankofengland.co.uk/statistics/exchange-rates

• https://www.esma.europa.eu/press-news/esma-news/esma-renew-restrictions-cfds-further-three-months-1-may-2019

• https://www.fca.org.uk/news/press-releases/fca-confirms-permanent-restrictions-sale-cfds-and-cfd-options-retail-consumers

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