Compare the best STP brokers in 2024

Many forex brokers use Straight Through Processing technology to offer traders a fast service and competitive pricing. Use this beginner’s guide to find the best STP forex brokers available today.
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Updated: Aug 5, 2023
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This page picks out the best forex brokers that use STP technology and compares them to help you decide which one to use. Learn about the key features of each platform and assess the benefits versus the risks of signing up.

Best STP forex brokers overall for 2024

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  1. eToro: Best for beginners, copy-trading & demo-account
  2. Plus500: Best for international CFD trading*

What are the best STP brokers?

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Our forex experts have ranked the leading STP brokers and you can sign up to any of them through the links in the table below. Keep reading for more information on why each one made the cut.

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1
Min. Deposit
9 €
Best offer
User Score
9.9
Join the Social Trading revolution. Connect with other traders, discuss trading strategies, and use our patented CopyTrader
eToro is the world’s leading social trading platform, offering a wide array of tools to invest in the capital markets
Largest number of currency pairs to trade
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Wire Transfer
Full Regulations:
CySEC, FCA

51% of retail CFD accounts lose money. Your capital is at risk.

2
Min. Deposit
100 €
Best offer
User Score
9.9
Trade +2000 CFDs on Shares, Forex, Indices, Crypto, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Visa, Mastercard, American Express, Trustly, Apple Pay, Google Pay, Discover, Bank Transfer: SEPA, Bank Transfer: FPS, skrill
Full Regulations:
ASIC, FCA, FSA, MAS, CySEC #250/14

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3
Min. Deposit
0 €
Best offer
User Score
8.0
Open a free account in minutes
Go global with fee-free foreign exchange
Finance tracking made simple
Start Trading
Payment Methods:
Debit Card, Credit Card
Full Regulations:

Top 8 STP brokers, reviewed

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1. eToro. Best for beginners, copy-trading & demo-account

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0% commission

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it’s an easy place to trade the currency markets. Forex can be intimidating, but eToro strips back the complexity to give you a platform where you can trade 50+ currencies at competitive prices and with up to 30x leverage.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see how all the major and minor forex pairs are performing every day, track how investors feel about every one of those currencies, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: eToro charges a fee on currency CFD trades through the spread. Spreads are variable depending on the currency and start from 1 pip for EUR/USD trades, 1.5 pips for EUR/GBP, and 2 pips for GBP/USD. Overnight and weekend fees apply.

Highlights

Visit eToro eToro Review

51% of retail CFD accounts lose money. Your capital is at risk.

2. Plus500. Best for international CFD trading*

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From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Free demo account for every user Secure broker, licensed by top-tier regulators Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to CFDs on over 60 forex pairs with leverage up to 30:1. 

Plus500 has something for all types of forex trader, no matter what level of experience. Its zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% and varies depending on the instrument. Additional fees include overnight funding which is dependent on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

What is an STP broker?

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STP platforms are a type of no dealing desk forex broker that sends trades automatically to the market. This is in contrast to a dealing desk, which is a ‘market maker’ that takes the other side of a trade itself rather than passing the order on.

It’s difficult to be certain about what type of broker a platform is. Few platforms are explicitly clear about their service and you can have hybrids; brokers that have a dealing desk but also operate some form of electronic network or straight through processing technology.

There are a few clues that can help differentiate them. No dealing desk brokers that use STP often have better prices but larger spreads, as you’re interacting with the forex market directly. Market makers have smaller spreads but can restrict trading during high volatility, as they set the prices and take the trades.

How do STP brokers work?

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STP brokers send trade orders directly to the interbank market without routing them through a market maker first. This gives traders that use this type of broker access to the rates that banks and other financial institutions get when they trade currencies among themselves.

The two big advantages of an STP broker are speed and price. Your trades are sent straight to the market (hence the name ‘Straight Through Processing’) rather than going through a middleman, and that same lack of an intermediary means there is no one taking a cut of the potential profit.

Should I use an STP broker?

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It’s a great option if you’re experienced and know what you’re doing. The decentralised nature of the forex market lends itself to choosing an STP or an ECN broker instead of a market maker. The prices are better and there is no danger of the broker restricting trading.

However, the flip side is that there are far fewer protections. The spreads are higher as the prices are more volatile, which means there might be a significant difference between the buy and sell price for a currency. You normally also have to navigate a more complex trading interface, rather than the simplified ones provided by market makers that target the casual trader.

For any new trader, a market maker is the best option. They are normally the forex brokers with demo accounts so that you can practice first and then the real thing has fewer risks than with an STP broker. For more advanced traders with lots of volume, an STP or ECN broker is an excellent choice.

What are the risks of using STP brokers?

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The biggest risk is that you can lose money. The risks are heightened with this type of broker compared to a market maker because the minimum lot (i.e. the trade size) is higher, so you have to place larger trades.

The fact that you deal direct with the market means that prices can swing much faster and the spreads are higher. The combination of those two factors can leave you with currencies that you can only sell at a significant loss.

Here are some of the benefits versus the risks of using an STP broker.

Benefits

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  • Faster trades reduces the chance of slippage
  • Accurate price quotes
  • STP brokers act for you, rather than profit from you as many market makers do
  • STP lot sizes are normally lower than ECN brokers

Risks

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What are the fees for using an STP broker?

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The fees can either be a commission or a markup on the currency prices. Commissions can be charged as a percentage of total trading volume over a period of time, such as a month. Markups are simply an addition to the price that’s charged by the market and are the primary reason why forex brokers charge different prices.

Open account with an STP broker

Methodology: How did we choose the best STP brokers?

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We use every broker and perform a series of tests to assess the service. These tests include setting up an account, making a deposit, and placing a trade. Additionally, to compile this page we looked through each broker’s legal and supporting documentation to ensure that they offer Straight Through Processing technology in some form.

The results from the test are combined with online research and customer reviews to create a final ranking. We also consider any sign up bonuses or other additional features, such as how well their customer service department performed in response to a series of questions.

Our review process ensures that no platform has the ability to influence the content on this page in any way. We may earn money through partner affiliations if you sign up to a platform after following a link on this page.

FAQs

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Which is best ECN or STP?
Do STP brokers offer apps too?


Sources & references
Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.