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STP (Straight Through Processing) Forex Brokers
Written by Aboutcurrency
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STP Straight Through Processing brokers employ a no dealing desk (NDD) model. As a result, they never trade against their clients. Instead, they route all client orders directly to the interbank market. Liquidity providers (banks, other brokers, hedge funds, mutual funds) compete to provide the best possible bid/ask prices.
As a general thumb of rule: the more liquidity providers (at least 3+), the better the fills for the trader. STP brokers offer two types of spreads: fixed and variable.
What follows is a list of STP no dealing desk forex brokers with favorable trading conditions and good reputation.
| STP Broker |
Features |
Spreads |
More |
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XM provides STP market execution on all trading accounts (Micro, Standard, Executive). Minimum deposit required to open a STP Micro account: $5. Number of Liquidity providers: 6
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Variable |
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Hotforex provides STP market execution on all trading accounts (Micro, Premium, VIP, Islamic, Currenex). Minimum deposit required to open a STP Micro account: $5. Number of Liquidity providers: 6
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Variable |
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STP Forex Trading:
PROS
- Choose from variable/fixed spreads
- No dealing desk (NDD) trading
- No conflict of interest between broker & trader
- No re-quotes
- Rapid trade execution
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