STP Forex brokers
МТ4 iPhone, МТ4 Android , МТ4 Windows Mobile, WebTrader, MetaTrader 4 (MT4), MetaTrader 5 (MT5)Open account
Demo accounts (with a time limit), Standard Accounts, Swap free accounts, Micro accounts
ASIC (Australia) license №443670 IFSC (Belize) license №000261/158 CySEC (Cyprus) license №120/10Open account
Metatrader 4/5, AvaTradeGo, AvaOptionsOpen account
Demo accounts (with a time limit), Standard Accounts, Segregated accounts
ASIC (Australia) license №No.406684, CBI (Ireland) license №No.C53877, FSA (Japan) license №No.1662, FFAJ (Japan) license №No.1574, ISA (Israel) license №514666577, FSCA (South Africa) №45984, B.V.I. FSC № SIBA/L/13/1049Open account
MetaTrader 4, MetaTrader 5, Ctrader, R trader, WebtraderOpen account
Unlimited Demo Accounts, Standard Accounts, ECN accounts, STP accounts, Cent accounts, Swap free accounts, VIP accounts, Micro accounts, Segregated accounts
RoboForex Ltd has a special brokerage license IFSC Belize "Trading in financial and commodity-based derivative instruments and other securities" under the number 000138/210.Open account
MetaTrader 4, MetaTrader 5, MetaTrader 4 mobile, MetaTrader 5 mobile, WebTraderOpen account
Demo accounts (with a time limit), Standard Accounts, Swap free accounts, VIP accounts, Segregated accounts
FCA - 186171; CYSEC - № 259/14; CIMA - 1442313. DFCA - F000048; Saint Vincent and the Grenadines - 25228 (IBC 2018)Open account
The forex market trading is booming for a good reason. Due to this, stp-forex brokers have also emerged. They do business with forex traders who want integrity and do not want to pay commission fees. The high demand for their services has led to the saturation of STP brokers in the market.
Some providers are better than others. While some strive to ensure excellent customer service by providing amazing features and premium service to demonstrate genuine care for clients, others do not. The best stp providers are committed to transparency and offering clients a conflict-free trading environment. We have provided crucial information to help you navigate through the world of stp brokers.
What Does Straight Through Processing (STP) Refer to?
It is an automated electronic money transfer process that does not need human intervention. Therefore there is no involvement of dealing desks and market price control. All trading orders usually pass through liquidity providers like banks and other brokers for execution.
The process is faster compared to the traditional banking system. STP is an upgrade to ACH and SWIFT as the process is streamlined by eliminating manual information routing and keying in payment. Due to their mode of operation, stp foreign brokers do not offer requotes.
Additionally, they do not hold liquidity or set the buy and sell prices on forex. Liquidity providers handle such tasks for brokers. Forex brokers use STP to transfer clients’ orders to their liquidity providers directly.
Brokers in forex prefer STP since they are guaranteed there will be no price manipulation behind their backs. Note that STP brokers do not charge commission; instead, they earn money by adding one pip to the spreads set by the market. Since you pay them a flat rate, it assures you transparent trading costs.
What’s more, you will know your overall cost upfront.
Top Factors to Choosing the Best STP Forex Brokers
To ensure you have a profitable trading experience, you need to choose an ideal stp broker. There are many variables that you should consider when selecting the best broker.
You should find an adequately regulated broker meaning authorities are monitoring their venture. Therefore, you can easily get your money in case of a problem. Additionally, they will ensure fair practices and keep your money safe.
In contrast, unregulated providers will make it challenging for you to get back your money if something goes wrong, and they are likely to be undercapitalized.
There is a lot of personal and financial data transmission when registering an account with an stp broker. You will have to give them copies of your credit card numbers, passport, bank account information, and utility bills. With the high rates of cyberattacks today, there are several risks of this process.
Hackers may steal your data and disrupt your trading activities if you transfer the information over lousy security practices. That is why you should ensure your broker invests in the best internet security to guarantee data security.
The forex trading market is complicated, thus a risky trade. Though you may know the possibilities of winning or losing considerably, you will want to prevent avoidable risks. Hence the reason you should choose a broker that offers segregation of clients’ money.
It will guarantee the safety of your funds, and you will know that the agent lacks full access to your cash.
Type of Spread
Spread is the brokerages’ company source of compensation. STP-forex brokers offer fixed and variable spreads. Understanding the two types will help you know how they affect your trading. Consequently, you will choose accordingly.
- Variable spread. Although the broker has an internal trading liquidity pool, they work like ECN. All the liquidity providers (LP) in the pool will propose bids and ask prices. The broker will choose the best bidding price and asking price from different LP to provide clients with the best spreads. The broker can allow the LP to earn profit by allowing some markup.
- Fixed spread. These brokers offer fixed spread throughout as they do not adjust them based on liquidity providers’ asking or bidding price
Type of Execution
It is vital to find a broker with excellent trade execution to fill your trades at correct rates.
It is a less transparent technique. Your broker will immediately execute your order, and it will not go to the market.
In this method, your order will go through the market and be filled according to liquidity providers’ offer. Therefore, it is more transparent.
The customer support of the broker mattes a lot. Individuals often overlook whether they can access the stp broker and talk to an actual person for clarifications and guidance. Make sure your broker has reliable and friendly customer representatives to offer quick help when you are in need.
Most importantly, do thorough research online to know the experiences other traders had with the broker.
Top-notch forex STP brokers
It has had an upward trajectory since the time it was established in 2009. The broker has over 800 000 customers from 169 countries. RoboForex’s success never went unnoticed, and in 2020, they bagged six prestigious industry awards, including the Most Trusted Broker. Clients find the broker a relatively safe bet since they keep funds in excluded trading accounts and protect the negative balance.
In addition, they are members of the Financial Commission’s Compensation Fund, and legal bodies like Verify My Trade audits their executions. What’s more, the broker has Civil Liability insurance against risks such as fraud, negligence, errors, and omissions that could cause clients to lose money. Some benefits you will gain from RoboForex are:
- Leverage ratio of up to 1:2000
- Several types of accounts
- Lower initial investment
- Many bonuses and promotions
XTB’s Brand Ambassador is José Mourinho, a successful football manager. Though the broker came into existence relatively late (2016), it has had significant success in the market and won some important industry awards. They have created an in-house platform, unlike other stp brokers that use MetaTrader.
Their platform is available as a mobile application and is known for its speed and user-friendliness. Moreover, they have demo accounts that allow you a month of risk-free trading with virtual funds amounting to 100,000Euros. Regardless of your frex trading experience, XTB offers learning and training resources to customers.
They offer basic, intermediate, and expert level courses. Their trading Academy provides quality content, but you need a live account to access it. Here are their advantages:
- High execution speed
- Excellent customer support
- Comprehensive training materials
- A well-regulated site
You are sure of winning if you work with Vantage FX. The broker is not only highly regulated but also strict on compliance and audits. Additionally, they store clients’ money in a protected account in the National Bank of Australia.
They have advanced execution technology that works faster and a platform that operates on MetaTrader 4 and 5. Still, need more evidence to choose Vantage? Well, you will, in addition to forex trade cryptos, indices, commodities, and shares.
You will also have special access to their promotions. Also, the broker has picked up some awards, and they carry Indemnity Insurance to cover customer losses if they screw up. Further, they get liquidity from bog companies like Bank of America and Citibank. The benefits of the broker include:
- Solid background
- No deposit fees
The broker has been around since 2006; therefore, they have vast experience in forex trade. They have well-regulated operations, and South Africa, Cyprus, and the Bahamas have licensed many of their entities. FxPro also offers extensive learning and training materials.
You do not need to register for their beginner and advanced level courses. There is always something new to learn, and therefore even if you have experience, you should take the lessons. Their site offers side-by-side comparison making life easier for clients.
Further, the clients are at liberty to choose from the multiple account options. The following are some advantages of the broker:
- Negative balance protection
- Order execution is faster
- Customers’ funds are fully protected
FP Markets is an international broker that has won several industry awards. They have ultra-modern technology and a lower deposit of $100. Aside from their site running on MetaTrader 4 and 5, they also have a new mobile app that clients connect to their trading dashboards wherever they are.
Here are other benefits of the broker:
- Allows auto-trading
- Good liquidity
- You can trade over 60 currency pairs
- Diverse language customer support
The in-depth information we have provided you about stp brokers is to help you choose the best agent whether you have vast experience in forex trading or a beginner. We understand how frustrated you might be from researching brokerage companies. That is why we have provided you with this useful guide. Considering the factors we have highlighted, like the broker’s registration, type of execution, and customers, will ensure you hire the best broker.