Finding a reliable and transparent broker is a major concern for traders. Straight Through Processing (STP) brokers have gained considerable popularity over the years because of their commitment to fast and direct order execution with no dealing desk. STP brokers offer traders a gateway to enhanced trading experiences through competitive pricing and features and tools that help smooth the way in meeting financial objectives.
There are scores of STP forex brokers in the industry, but some stand out as the best in the industry. Here are our top choices of the best STP forex brokers.
Quick Look: Best STP Forex Brokers
- Best Overall: FOREX.com
- Best for Fast Execution Speed: Swissquote
- Best for Advanced Copy Trading: RoboForex
- Best for Beginners and Advanced Traders: eToro
Best STP Forex Brokers
Here are a few of the best STP brokers in the industry today.
1. Best Overall: FOREX.com
- Best For:Excellent Trading Conditions and Overall OfferingsVIEW PROS & CONS:securely through Forex.com Europe's website
Founded in 1999, FOREX.com is a part of StoneX, a financial services organization that serves over one million customers globally. The broker delivers competitive pricing on advanced trading platforms including MT4/MT5, TradingView, NinjdaTrader and Trading Central depending on your location.
Why We Love It: FOREX.com is known for its robust regulatory framework and offering a wide range of trading instruments beyond forex, including commodities, indices, and cryptocurrencies. The broker features competitive pricing and low spreads, along with advanced trading platforms that come equipped with powerful tools for analysis and execution.
2. Best for Fast Execution Speed: Swissquote
Established in 1996 in Gland, Switzerland, Swissquote is a banking group that has become one of Switzerland’s leading providers of online foreign exchange (forex) trading and financial services. The company went public in May 2000, and its stock trades on the SIX Swiss Exchange under the symbol SQN.
Why We Love It: Swissquote offers competitive spreads and low commissions, benefiting both day traders and long-term investors. The broker is known for fast execution speeds, ensuring trades are executed quickly at the best available prices. Swissquote also provides various educational resources, including webinars, articles, and market analysis, which help traders improve their skills and stay informed about market trends.
3. Best for Advanced Copy Trading: RoboForex
In business since 2009, RoboForex boasts over a million clients in 169 countries. Clients can choose from a vast portfolio of tradable assets across nine asset classes. There are five account types with features to suit different skill levels and trading strategies.
Why We Love It: The trading platform is easy to use and has a complete set of trading tools, market analysis and advanced charting. Users also have access to copy trading and a demo account. Trades happen on multiple platforms, including MT4 and MT5. RoboForex also offers generous bonuses.
4. Best for Beginners and Advanced Traders: eToro
Social trading broker eToro operates in over 100 countries and boasts 30 million users. Tradable assets include contracts for difference (CFDs) for forex, cryptocurrencies and commodities. Traders have access to 30:1 leverage.
Why We Love it: eToro charges no more than the spread, part of which is refunded if you lose a significant portion of your funding on a trade. The trading platform is easy to use and gives you access to over 3,000 tradable assets, including stocks, exchange-traded funds (ETFs), cryptocurrencies and CFDs. Copy trading is a great feature for those new to trading, as they can learn from skilled traders. Advanced traders can make an income from allowing beginners to copy their trades.
What is an STP Forex Broker?
An STP forex broker routes client orders directly to liquidity providers, like banks or other financial institutions. There is no third-party intervention or dealing desk manipulation. STP brokers are intermediaries, connecting traders and the interbank market.
Pros of STP Forex Brokers
- No dealing desk intervention: STP brokers eliminate the conflict of interest that may arise with brokers who operate a dealing desk, as they do not act as the counterparty to the trader's trades.
- Market transparency: STP brokers provide traders access to real-time market prices and liquidity. This ensures transparency and fair-trade execution.
- Quicker execution: STP brokers send orders directly to liquidity providers, so they quickly execute trades, reducing slippage.
- Better pricing: The access to many liquidity providers allows STP brokers to offer competitive bid and ask prices.
Cons of STP Forex Brokers
- Limited control over prices: STP brokers rely on liquidity providers for pricing, so the broker doesn’t control the spreads. This may result in wider spreads during periods of low liquidity or high market volatility.
- Conflict of interests: STP brokers can trade against their clients.
Choose the STP Broker to Match Your Trading Style
Whether you're an experienced trader or just starting, these top STP brokers offer a combination of progressive technology, robust trading platforms and a wide range of assets. Every trader is different, and the best STP broker for you is the one that matches your financial strategy and trading preferences.
Frequently Asked Questions
Which is better an STP or ECN?
Whether STP or ECN brokers are best depends on your goals and budget. ECNs are more transparent, and there are no conflicts of interest. STPs are more budget-friendly.
What is the difference between an STP broker and a market maker?
An STP broker matches buyers and sellers in financial markets. Market makers are financial institutions that ensure market liquidity by providing funds for financial asset trades.
How do STP brokers make money?
STP brokers typically make money on the spread, which is the difference between the asset buy and sell prices. Brokers may also charge other fees, like commissions or management fees.
Get a Forex Pro on Your Side
FOREX.com, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets with low pricing and fast, quality execution on every trade.
You can also tap into:
- EUR/USD as low as 0.2 with fixed $5 commissions per 100,000
- Powerful, purpose-built currency trading platforms
- Monthly cash rebates of up to $9 per million dollars traded with FOREX.com’s Active Trader Program
Learn more about FOREX.com’s low pricing and how you can get started trading with FOREX.com.
About Anna Yen
Anna Yen, CFA is an investment writer with over two decades of professional finance and writing experience in roles within JPMorgan and UBS derivatives, asset management, crypto, and Family Money Map. She specializes in writing about investment topics ranging from traditional asset classes and derivatives to alternatives like cryptocurrency and real estate. Her work has been published on sites like Quicken and the crypto exchange Bybit.