15 Best STP Forex Brokers

If what you seek is a Forex broker that will seamlessly deliver trade executions, fill your market orders within seconds and keep interference with your trading to a minimum, then you should consider choosing one of the 15 Best STP Forex Brokers in this review.

STP (Straight Through Processing) brokers fall under the class of “Market-makers” and this type of broker generally accepts the risk of holding Forex positions in order to facilitate the trading of certain currency pairs, and will also display its own quotes.

Also referred to as non-desk dealing brokers, STP Forex brokers give clients access to real markets and are able to fulfil orders much faster than other types of brokers, as orders are routed directly to liquidity providers.

Liquidity providers can be banks, investors or hedge funds, and the prices displayed by STP brokers are generally based on the bid/ask rates stipulated by these financial institutions or individuals.

In contrast to desk-dealing brokers, STP Brokers give traders Direct Market Access (DMA), which greatly reduces the mark-up on spreads offered by the broker and guarantees that clients will have tighter spreads on their currency pairs.

For traders who are interested in scalping, STP brokers may be more suitable due to the fast transaction speeds offered and the potentially low spreads caused by certain types of market movements.

 

Admirals (Admiral Markets)

As of 2021, Admiral Markets will be rebranded as Admirals and will operate as a multi-functional financial service provider with a wider range of services and products on offer.

Admiral Markets is an award-winning Forex broker that is regulated by CySec, FCA, ASIC and EFSA.

Clients of Admiral Markets can choose from 6 flexible types of accounts that accommodate the needs of all types of traders and based on which platform is preferred by each individual.

New traders will find a great selection of educational resources on the website, consisting of an entire library of eBooks, guides, tutorials and articles.

 

Pros and Cons of Admiral Markets

✔️Pros	❌Cons
Advanced research and analysis tools	Does not facilitate social and copy trading
Many accounts to choose from	Inactivity is penalized
Negative balance protection
Beginner-friendly

 

Alpari

Alpari has more than 2 decades of experience in Forex trading and has earned the trust of over 2 million traders worldwide.

Alpari offers its clients Islamic and demo accounts, along with 2 types of trading accounts that each has two variations, based on individual trading needs.

Alpari offers strategy managers to its clients and encourages copy trading for traders who are interested in trying tested effective strategies.

Beginners are accommodated for by Alpari and there is a variety of training material and educational content available for new traders.

 

Pros and Cons of Alpari

✔️Pros	❌Cons
Wide variety of products	Only 4 base currencies supported
Supports Copy Trading	Only regulated by FSC
Flexible account types	Clients from Japan, Russia and USA cannot use Alpari
Massive client base

 

AvaTrade

AvaTrade was founded in 2006 and has established itself as a multi-regulated broker with more than 300,000 loyal clients.

AvaTrade assists new traders along their journey to success by providing a variety of tutorials, guides and eBooks.

AvaTrade specializes in CFD trading, Forex and cryptocurrencies, and clients can choose from AvaTrade’s proprietary platforms or MetaTrader 4 and 5.

AvaTrade offers Islamic and demo accounts in addition to the 4 account types provided, and these accounts can be used with economic calendars, trading calculators, market analyses and all other tools and features offered by supported platforms

 

Pros and Cons of AvaTrade

✔️Pros	❌Cons
Quick and easy to open an account	Service not offered to US
Deposits and withdrawals are free	Telephonic customer support seems lacking
Great educational materials	US citizens cannot use AvaTrade
Highly regulated

 

BDSwiss

BDSwiss is an award-winning Forex broker that was founded in 2012 and is regulated by FSA and CySEC.

BDSwiss offers 3 types of accounts and more than 200 trading instruments that can be traded in highly liquid global markets.

BDSwiss provides a proprietary web and mobile trading app and is also compatible with MetaTrader 4 and 5.

Traders who are new to the markets can use the trading academy on the BDSwiss website to gain a comprehensive understanding of Forex trading through the learning centre.

Customer support is available through live chat and email, and the help and support centre can be used to answer some of the most common questions traders have.

 

Pros and Cons of BDSwiss

✔️Pros	❌Cons
Daily market analysis updates	Not available to US and Canadian clients
Trading academy for beginners	No fixed spread accounts
Highly regulated broker
151 deposit methods

 

Blackbull Markets

Blackbull Markets was established in 2014 as a true ECN Forex broker that guarantees no desk-dealing and tight spreads. 

Blackbull Markets is based in New Zealand with offices worldwide and is a registered Financial Services Provider that is regulated by the FSA.

Blackbull Markets offers clients three different account types, as well as Islamic accounts, Institutional accounts and active trader accounts (for high-volume traders) – all of which can be used on MetaTrader 4 and 5, and WebTrader platforms.

When trading with Blackbull Markets, traders benefit from referral bonuses and they can use ZuluTrade and MyFxbook.

 

Pros and Cons of Blackbull Markets

✔️Pros	❌Cons
Zero-commission trading accounts	No access to US clients
Low spreads with fast execution speeds	Fixed spread accounts not available
More than 300 trading instruments
Excellent partnership programs

 

City Index

City Index was founded over 3 decades ago and has earned the trust of more than 300,000 traders across the globe.

City Index is regulated by IIROC, JFSA, ASIC, FCA and CFTC, and has won several awards over the years.

City Index is part of GAIN Capital Holdings Inc. and StoneX Financial Ltd., and is further regulated in several jurisdictions worldwide.

City Index offers accounts based on three types of traders and accommodates personal trading, professional trading and premium trading for private retail clients.

City Index is compatible with WebTrader and MetaTrader 4, and alternatively provides a proprietary platform, and all platforms can be used with a variety of advanced trading and analysis tools.

 

Pros and Cons of City Index

✔️Pros	❌Cons
Listed on NASDAQ	Penalty fees for inactivity
Great selection of products	Stock CFD fees are high
Deposits and withdrawals are free	Only one account type to choose from
Part of StoneX

 

Darwinex

Darwinex is an FCA-regulated Forex broker based in the United Kingdom, that was founded in 2012.

Darwinex is trusted by more than 3,000 traders and facilitates trading for clients from 80 countries worldwide.

Darwinex is compatible with a variety of platforms, including MetaTrader 4 and 5, Trader Workstation, and FIX API.

Darwinex offers only 2 account types – a Standard account for retail traders, and a Joint account for corporate traders – and both accounts require high minimum deposits.

Unfortunately, there appears to be no educational material on the website.

 

Pros and Cons of Darwinex

✔️Pros	❌Cons
Regulated by the FCA	No cryptocurrencies
Supports Copy trading	Limited accounts for Forex
Compatible with MetaTrader platforms	Only 3 supported base currencies

 

Dukascopy

As a licensed member of the Swiss Banking Group, Dukascopy offers a variety of financial products and services, including wealth management services, traditional trading accounts, crypto accounts and Binary Options accounts.

There are several different live and demo accounts to choose from and a wide range of products are offered for each instrument on the website.

Dukascopy provides online charts, data tools, calendars, advanced calculators, signals and technical indicators, and supports automated trading and APIs.

Unfortunately, it appears that Dukascopy does not have a dedicated section for educational content and may not be suitable for beginners.

 

Pros and Cons of Dukascopy

✔️Pros	❌Cons
Multi-currency accounts offered	Commission fees are high
Incredible selection of tools and data	Withdrawals are not free
Advanced market research features	High minimum deposit
Variety of trading platforms	Not beginner-friendly

 

Eightcap

Eightcap offers two account types that are compatible with the MetaTrader platforms and clients can trade more than 250 instruments in global markets.

Eightcap has dedicated educational resources for beginners and new traders can learn about trading strategies, how to use MetaTrader and gain a deeper understanding of the fundamentals of trading.

Eightcap guarantees tight spreads with fast execution speeds, and is regulated by VFSC and ASIC.

Eightcap is a good choice for investors who prefer trading with Expert Advisors and the minimum deposit for both accounts is $100.

 

Pros and Cons of Eightcap

✔️Pros	❌Cons
Compatibility with MetaTrader platforms	Limited selection of trading instruments
Extremely low spreads offered	High commission charged on Raw account
7 base currencies supported	No advanced market or research tools offered
Supports trading with EAs

 

eToro

eToro is trusted by more than 3 million traders and was founded in 2007 as a broker that facilitates trading with top international instruments, including shares in Amazon, Tesla and Apple, and Bitcoin trading.

eToro is a great option for social traders and provides a dedicated app called OpenBook, which was the first social trading app ever launched.

eToro supports all major cryptocurrencies and offers a variety of risk management and analysis tools for CFD traders.

eToro is beginner-friendly and provides a special training academy for new traders to learn how to trade.

 

Pros and Cons of eToro

✔️Pros	❌Cons
Supports CopyTrading	Difficult to find detailed account information
Supports Social trading	Forex fees are high
Flexible leverage	Withdrawal fee of $5
Free stock and ETF trading in EU

 

FBS

FBS is a beginner-friendly, multi-award-winning Forex broker that is compatible with the MetaTrader platforms and provides its own innovative trading platform as an alternative.

FBS has over 15 million clients worldwide and offers promotional deals, loyalty programs and contests to encourage participation.

FBS traders can choose from five account types and this broker also facilitates copy trading.

When using FBS, traders benefit from a variety of trading and research tools that can also be used for advanced charting and analysis. 

FBS is regulated by the ASIC, FSCA, IFSC and CySEC, and requires a low minimum deposit of only $1 to activate a live account.

 

Pros and Cons of FBS

✔️Pros	❌Cons
Flexible account options	Limited product offering
Copy trader-friendly	EU clients do not have many benefits
Compatible with MetaTrader platforms
Plenty of promotions and bonuses

 

Forex.com

Clients of Forex.com can choose from three account types with either low spreads, or zero commission trading.

Forex.com accounts can be funded using 6 major currencies and deposits and withdrawals are free of charge.

Forex.com offers 91 currency pairs, which greatly exceeds that of any other broker, and provides a wide range of trading and research tools.

Customer support can be reached via live chat, email and telephone, and telephonic support has been rated highly.

This broker is beginner-friendly, offers demo accounts for new traders to practice on, and is regulated in 6 different countries (including the US, Japan and Canada).

 

Pros and Cons of Forex.com

✔️Pros	❌Cons
Cash rebates for high-volume trades	Not a CySEC-regulated broker
Great range of research tools	Inactivity is penalised
Withdrawals and deposits are free

 

FP Markets

FP Markets is a CySEC- and ASIC-regulated Forex and CFD broker with nearly two decades of experience in the industry.

FP Markets offers two account types, as well as swap-free accounts, and guarantees tigt spreads and zero to low commission fees.

Accounts can be funded using most major currencies and they can be used with Expert Advisors on a VPS (Virtual Private Server).

FP Markets welcomes traders of all experience levels and provides educational material, advanced trading tools, trading calculators and a variety of research, analysis and charting tools.

 

Pros and Cons of FP Markets

✔️Pros	❌Cons
10 Base currencies supported	Withdrawal fees
Great product offering	No fixed spreads
Compatible with MetaTrader 4 and 5

 

FXCM

FXCM was founded over two decades ago as a Forex and CFD Broker, and it is regulated by FSCA, ASIC and FCA.

FXCM is compatible with several platforms, such as MetaTrader 4, NinjaTrader, ZuluTrade, TradingView, Capitalize AI, and Trading Station – ensuring that every client can use a platform they are familiar or comfortable with.

By supporting algorithmic trading and having multi-platform capabilities, FXCM is able to offer a wide variety of tools and features.

 

Pros and Cons of FXCM

✔️Pros	❌Cons
Great selection of technical research tools	Bank withdrawal fees are high
Comprehensive educational resources	Limited product offering
Rebate and Referral Program	Penalty fee for one year of inactivity
Allows Copy Trading

 

FXTM

FXTM is a regulated broker that was founded in 2011 and is trusted by more than 2 million traders worldwide.

The accounts offered by FXTM are flexible, with guaranteed tight spreads and different leverage options.

FXTM is available to clients from over 100 countries and supports Copy Trading, providing more than 5,000 tested strategies for clients to use.

FXTM is not only a beginner-friendly broker with a great selection of educational content, but it also provides advanced trading courses and tools for more experienced traders.

 

Pros and Cons of FXTM

✔️Pros	❌Cons
Tight spreads	No US clients allowed
Fast trade execution	Penalty fees for inactive users
Option to start trading with $10

 

Conclusion

There are several benefits to using an STP Forex broker, with the greatest advantage being that orders will be fulfilled faster and the markup on spreads will be significantly lower than the spreads offered by dealing-desk brokers.

Based on the nature of the relationships that non-dealing desk (NDD) brokers have with liquidity providers, traders who use STP brokers are guaranteed to get more out of their trades because of the superior transaction speeds and tight spreads.

For traders who prefer using brokers who do not act as a middleman for their trading activities, this list of the 15 Best STP Forex Brokers will be useful in determining exactly which broker will meet their trading and strategical requirements, as well as choosing a broker that provides educational material for traders who are new to the scene.

Good luck with your trading!

 

Disclaimer

Remember, 75% of retail investors lose money when trading CFDs and there is a high risk of losing your capital in the forex markets.

The information on this website is in no way intended to be used as financial advice and opening an account with any broker is done at your own discretion and risk.