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
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.