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STP/ECN Brokers

What is an STP Broker?

Straight-through processing (STP) broker is a type of online broker known as Direct Market Access (DMA) brokers. This type of broker provides direct access to the interbank market, where the execution and pricing are done by banks that work as liquidity providers.

Broker Broker Type Min. Spreads Min. Deposit Min. Position Max. Leverage Apply
ATFX ECN/STP By Region 100 0.01 1:200
Oinvest STP/ECN 0.7 Pips 250 0.01 1:500
FXPRIMUS ECN/STP 0.0 Pips 100 0.01 1:500
1LotSTP ECN,STP 0.3 100 0.01 1.500
1pipfix STP 0.1 100 0.01 1:400
2pipfix STP 0.9 25 0.1 1:400
3TG Fx ECN 0.5 500 0.01 1.500
4RunnerForex ECN,STP 0.9 100 0.1 1:200
4XP ECN,MM 1.0 500 0.01 1.300
A Forex ECN,STP 0.3 100 0.01 1.500
Abshire Smith ECN,STP 1.3 500 0.1 1:200
AccentForex STP 0.5 10 0.01 1.500
ActivTrades STP, MM 0.9 250 0.01 1:400
Admiral Markets ECN,MM 1.0 10 0.01 1.500
Ajax Financial ECN 0.3 500 0.1 1.100
Alpari (UK) STP 1.6 200 0.01 1.500
AmariFX ECN, MM 0.5 100 0.01 1:500
AMEGA ECN/STP 0.1 pips 0 0.01 1:1000
Arab Financial STP 1.0 2000 0.01 1:400
ATC Brokers ECN,STP 1.0 3500 0.1 1.100
Atlas Capital FX STP,MM,ECN 0.8 50 0.01 1.500
ATS Markets MM/ DMA/STP 1 Pips 100 0.01 1:500
Avivafx ECN,STP 1.0 100 0.01 1.500
Axiory STP 1.0 100 0.01 1.300
B2S FOREX STP 0.2 50 0.01 1:200
Belarta STP/DMA 0.3 1000 0.01 1:500
BFSforex STP 2.0 5 0.01 1:1000
Boston Merchant STP,MM,ECN 0.6 100 0.01 1.500
BroCo ECN, MM 1.0 100 0.01 1:200
Bulls Capital Markets STP, ECN 0.6 50 0.01 1:1000
Capital One Forex ECN,STP 0.2 100 0.01 1.1000
CitiFX Pro ECN 0.2 10000 1 1.50
CommexFx ECN,STP,MM 2.0 200 0.01 1:400
Delta Financial STP, MM 1.0 10 0.01 1:200
DeltaStock ECN,MM 0.1 100 0.01 1:200
DFX Financials STP 1.0 200 0.1 100:1
Direct Currency ECN 0.9 1000 0.1 1.500
Dukascopy ECN 0.5 10 0.01 1.100
eToro STP 2.0 50 0.01 1:400
European Brokerage House ECN/STP 0.1 100 0.01 1:200
EXO GROUP LIMITED STP, NND 0.7 100 0.01 1:200
Exto Capital STP 0.8 1000 0.1 1:400
Falcon Brokers ECN,STP 0.5 100 0.01 1.:500
FastBrokers ECN,STP,MM 0.0 500 0.01 1:200
FBS STP, ECN 0.2 5 0.01 1:1000
FBS STP, ECN 0.2 5 0.01 1:1000
FeelTrade STP 3.0 100 0.01 1:300
FIBO Group ECN,MM 0.1 300 0.01 1:200
FIBO Group LTD ECN,MM 0.1 300 0.01 1:200
FIBO Group LTD ECN,MM 0.1 300 0.01 1:200
Finexo STP, MM 2.0 100 0.1 1.100
FinFX ECN,STP 0.0 100 0.01 1:200
Finotec NDD, STP 0.0 200 0.1 1:200
Forex Financial STP 2.0 500 0.01 1.300
Forex-Metal ECN,STP 0.2 1 0.01 1.500
Forex-Trend STP 0.0 20 0.01 1.100
FOREX.ee ECN/DMA 0.0 200 0.01 1:500
Forex4you ECN 0.5 1 0.01 1.500
Forexoma ECN,STP 1.0 500 0.01 1.500
ForexYard STP, MM 3.0 100 0.1 1:200
FormulaFX STP, ECN 0.5 100 0.01 1:300
FreshForex STP 1.0 1 0.01 1:500
FX Choice ECN,MM 0.1 10 0.01 1.500
FX Clearing ECN,STP 0.0 10 0.01 1.500
FX UP STP, MM 0.0 1 0.01 1.500
FxBase ECN 1.0 100 0.01 1:500
FXCH STP 1.0 2000 0.1 1.500
FXCM NDD, STP 0.9 2,000 200 1.500
FXCM Micro NDD, STP 2.0 25 0.01 1:400
FXFair ECN,STP 0.1 1 0.01 1:100
FxGrow STP, ECN 0.1 pips 100 0.01 1:200
FXOpen ECN,MM 0.0 1 0.01 1.500
Gain4ex ECN 1.0 100 0.01 1:500
Gainscope STP 1.0 250 0.01 1.500
Gallant Capital ECN,STP 0.2 100 0.01 1:400
GCM Forex ECN 2.0 100 0.01 1:100
Gedamo Investment ECN,MM 1.4 500 0.1 1.500
Global Futures ECN, STP 1.4 250 0.01 1:400
GOMarkets STP 0.5 1 0.01 1.500
GREENVAULT FX STP, ECN 0.0 1 0.01 1:1000
GTI Forex STP, ECN 3.0 100 0.01 1:500
HFX ECN,STP 1.5 250 0.05 1.300
Hirose Financial STP 0.7 20 0.01 1.300
IamFX STP 0.0 500 0.01 1.500
IBFX STP 1.8 250 0.01 1.50
IFC Markets ECN,STP 1.8 1 0.01 1:400
IGOFX STP 1.0 1 0.01 1:1000
IGOFXPRO STP 3.0 1 0.01 1:1000
InstaForex ECN 3.0 1 0.01 1.100
International Capital ECN 0.0 200 0.01 1.500
Investors STP 0.5 250 0.01 1:400
Iron FX ECN,STP 0.0 500 0.01 1.500
IronFX STP/ECN/MM 0.0 500 0.01 1:200
IvitaFX STP 0.0 100 0.01 1:500
JFX STP 0.0 100 0.01 1.500
LandFX STP 1.5 300 0.01 500:1
LiteForex STP 0.0 1 0.01 1.500
Loyal Forex ECN,STP 0.9 1 0.01 1.400
Loyal Forex STP, MM 2.0 50 0.1 1:200
MasterForex ECN,MM 2.0 1 0.01 1.500
MB Trading ECN,STP 0.0 400 0.1 1.50
MBC Financial Services STP 2.0 200 0.1 1.50
MF Financial ECN,STP 0.0 100 0.1 1.500
MIG Bank STP 0.6 2,000 0.1 1:200
MRC Markets ECN,STP 0.5 100 0.1 1.500
My Trade ECN/NDD 0.0 50 0.01 1:500
NixonFx STP 2.0 25 0.01 1:100
NSFX STP, ECN 0.3 300 0.01 1:200
OctaFX STP 0.2 pips 5 0.01 1.500
OlympTrade STP/ECN 0.3 Pips 10 0.01 1:400
OzoneForex STP, ECN 0.0 1 0.01 999:1
Pacific Financial STP 0.0 200 0.1 1.500
PaxForex ECN,STP,MM 0.8 300 0.01 1.500
Pellucid Global STP/ECN 0.4 200 0.01 400:1
Pepperstone ECN 0.1 200 0.01 1:400
PFG Forex STP 0.0 1000 0.1 1.100
PIPTRADE STP, ECN 1.8 50 0.01 1:500
Price Markets ECN 1.0 10 0.01 1:500
Profiforex STP 2.0 1 0.01 1.500
Real Forex STP 0.8 500 0.01 1:200
Realtime Forex ECN,MM 0.3 3000 0.1 1.100
Renesource Capital ECN,STP 0.6 2500 0.4 1.100
RFXT ECN,STP 0.3 1000 0.01 1.100
RoboForex ECN,STP 0.1 10 0.01 1.500
RTFX Ltd STP 0.8 100 0.01 1:500
RVMarkets STP 0.0 1 0.01 1.500
SAXfx ECN 0.0 100 0.01 1.500
SDWingFX ECN 1.8 100 0.01 1:400
SmartTraderFx ECN,STP 0.2 100 0.01 1:200
Solforex STP 0.0 200 0.01 1:400
Strato Markets STP 1.0 300 0.1 1:400
Swissquote Bank STP 0.9 2,000 0.1 1.100
Synergy FX ECN,STP 1.0 500 0.01 1:400
Tadawul FX STP 1.0 500 0.05 1.500
Tallinex ECN,STP 0.0 100 0.01 1:400
Tenko FX ECN 0.0 50 0.01 1:500
Tradenext ECN 0.0 25 0.01 1:200
tradenovafx STP 0.0 1000 0.1 1:100
Traders Trust STP 1.8 100 0.01 1.500
Traders Way ECN,STP 0.0 1 0.01 1.500
TraDesto ECN 0.3 100 0.01 1.500
TradeView Forex STP 0.8 100 0.01 1:200
Trading Forex ECN,STP 0.4 500 0.01 1.500
UFXBank STP 2.0 100 0.05 1:200
Umofx ECN,STP 0.2 1 0.01 1.500
Umofx ECN,STP 0.2 1 0.01 1.500
Umofx ECN,STP 0.2 1 0.01 1.500
United Forex ECN,STP 2.0 100 0.01 1:200
Universal FX STP 0.9 2,000 0.1 1.100
Vantage FX STP 0.6 2 0.01 1.500
Velocity Trade STP 0.5 1000 0.1 1.100
VertiFX ECN,STP 1.0 100 0.01 1:500
Vinson Financials ECN,STP 2.0 100 0.01 1:200
VR CAPITAL LTD ECN 0.5 100 0.01 1:500
Wall Street STP, MM 2.0 10 0.01 1.500
Weltrade STP, ECN 2.0 25 0.01 1:500
WH SelfInvest STP 2.0 2,500 0.1 1.100
WorldProFX ECN 0.4 250 0.01 400:1
xforex ECN,STP 1.0 100 0.01 1:500
XGLOBAL Markets STP 0.8 1 0.01 1:500
XM Group MM 00 5 0.01 1:30*
XTrade Market Maker 0.2 Pips 100 0.01 1:200
Yadix ECN,STP 0.4 100 0.01 1:500
You Trade STP 2.0 100 0.01 1.300

What is an ECN Broker?

Depending on the operation, a type of broker is known as ECN (Electronic Communication Networks) broker.

An ECN broker is a per-se that provides access directly to the markets without using a dealing desk system. It can ordinarily utilize its customer's more ask bid/ask spreads than would surely be generally accessible to them since an ECN consolidates value citations from a few market members.

Types of Brokers

According to a range of criteria, Forex brokers are divided into different categories. We can divide into below categories:

  • Reputable Brokers (licensed)
  • Non-reputable Brokers (without licenses)

NDD brokers include:

  • STP (Straight Through Processing) forex broker
  • ECN (Electronic Communication Network) Forex Broker
  • Hybrid (ECN+STP) Broker

As the execution of orders:

  • DD (Dealing Desk) Forex brokers
  • NDD (No Dealing Desk) Forex brokers
  • Hybrids

As the trading platforms:

  • MT4 Forex brokers
  • MT5 Forex brokers
  • Brokers with a proprietary platform
  • MT4 & MT5 Forex brokers

 

Pros and Cons of Electronic Communication Network Broker

Pros

Great transparency pricing

No conflict of interest

Level II quotes provided

No spread mark-up

Higher liquidity

Direct access to the market

Cutting edge technology for trading

Cons

Big number of funds needed

Not suitable for beginners

High fixed commission

Complex stop-loss calculation

Pros and Cons of Straight Through Processing Brokers

Pros

Live market trends

No re-quotes/slippage

Freedom to avoid quotes

Both variable and fixed spreads

Not trading against a broker with a conflict of interest.

Cons

Major conflict of interest

The price can change within a few seconds

Does ECN = STP?

You will often find the STP/ECN in the same time or same sentence or the terms used together that confused people between STP/ECN and the difference. If they are the same thing, both brokerage designs run without a Dealing Desk, which is why STP and ECN brokers are usually talked about. This suggests the broker does not interfere with an investor's order but merely put the trade with a counterparty. Many investors favor brokers using a no dealing desk system as the broker's rate of interests and the clients are aligned.

Advantages of working with a Forex broker is true ECN

Complete anonymity

 

One advantage of utilizing an actual ECN broker is that they provide a higher level of privacy, which the market leaders.

Transparency

An ECN broker uses the most up-to-date technology to make certain trade executions quick and smooth and uses the best market costs readily available and inexpensive spreads.

Much less interference

This is most likely the best benefit of making use of an honest ECN broker. Many ECN brokers have a reputation for being knowledgeable, credible, and also dependable. This flexibility allows ECN brokers to carry out the orders of their customers without disturbance.

Negative aspects of collaborating with real ECN brokers

Variable spreads

ECN brokers provide variable spreads which are typically determined by the present market conditions.

At times these distinctions can change significantly, particularly when there is high instability that may affect your exchanging procedure and impact your open positions.

Expensive

Collaborating with an honest ECN broker that straight attaches you to market individuals, including major monetary establishments, comes with a big cost.

Among them is a financial investmentventure needed to open an account with a genuine ECN FX dealer. A few merchants additionally charge a commission as high as $ 3 per buy, which might be impractical for retail investors.

A great deal of ECN brokers has a standing for being capable, dependable, just as solid. This flexibility makes it possible for ECN brokers to perform the orders of their customers without disturbance.

Advantages of working with an STP Broker

One of the main benefits of STP brokers is that orders are filled faster, and trade implementation is seamless, which consequently helps traders take benefit of market conditions without the broker interfering in any fashion.

They use an anonymous platform with neutral prices that represents the global market conditions. Investors are additionally safe from requotes, and also, they are subjected to much more competitive costs.

Disadvantages of an STP Broker

The main disadvantages of the broker are the spreads are variable. Also, the minimum deposit requirement is higher than ECN brokers such as $500, $1000, and more.