Straight Through Processing (STP) refers to a forex brokerage model where client orders get sent straight to market without a dealing desk. The best STP brokers in the UK will pass client trades directly to a liquidity provider. These include banks, investment corporations, hedge funds, or interbank exchange houses.
The main benefit of STP brokers is the speed of processing. In addition, STPs cut down back and forth decision-making that could lead to missing out on trades during release times. Traders are comfortable with the fact that losses do not become the profit for the broker. This means the broker works towards profitable trades. Check out what we found in our search.
List of the Best STP Brokers in the UK
- Pepperstone – Best STP Broker For MetaTrader Users in the UK
- eToro – Overall Best STP Broker in the UK
- Skilling – The Best STP Broker for Novice Traders
- FP Markets – Best With Social Trading Features
- IG Markets – Top Option For Advanced Traders
In this guide
Compare the Best STP Brokers in the UK
We have analysed more than 160k customer reviews from Google Play, Apple Store, and Trustpilot. This helped us discover the best features of each of the STP brokers. Here is a quick look at our ratings.
| STP Broker | Licence | Minimum deposit | Money insurance | Payment | Software | Demo account |
|---|---|---|---|---|---|---|
| Pepperstone | FCA, ASIC, DFSA | $0 | Yes (up to £85,000) | Credit cards, Bank transfer, PayPal, Neteller, Skrill, Union Pay | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Capitalise.ai, Social Trading | Yes |
| eToro | ASIC, CySEC, FCA, FSAS | $100 | Yes (up to $250,000) | Debit card, Bank transfer, eToro Money, Online Banking | eToro investing platform, Multi-asset platform, Copy Trader | Yes |
| Skilling | CySEC | €100 | Yes (up to 1 €1,000,000) | Credit cards, Neteller, Skrill, Bank Wire Transfer, Trustly, Klarna, PayPal | Skilling Trader, Skilling cTrader, Skilling MetaTrader 4, Skilling Copy | Yes |
| FP Markets | FCA, MAS, FSCA, ASIC, CMA, CySEC, FSA | £100 | Yes, up to €20,000 | Credit/debit cards, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay | MT4, MT5, TradingView, cTrader, WebTrader, Mobile App, Copy Trading | Yes |
| IG Markets | FCA, ASIC, CySEC, FSA | $0 | Yes, up to £85,000 | Debit cards, Bank transfer, PayPal, HK FPS | MetaTrader 4, IG trading platform, ProRealTime, Web platform, Trading apps, L2 Dealer | Yes |
1. Pepperstone – Best STP Broker For MetaTrader Users in the UK
After testing Pepperstone extensively, our hands-on approach led us to conclude that it stands out as the best STP broker for MetaTrader users in the UK. We appreciate the user-friendly interface and customisation options, thus recommending it to traders of all levels. With over 1200 CFD assets, including forex, shares, commodities, and indices, Pepperstone provides a diverse trading experience.
Besides MetaTrader platforms, we also enjoyed the cTrader and social trading, which we believe will enhance users’ experience. On top of that, Pepperstone charges one of the lowest spreads from 0.0 pips on major currency pairs. Although the minimum deposit for UK traders is £500, we believe Pepperstone’s features are worth exploring. We therefore give it a 5-star rating based on our experience.
✔ No dealing desk intervention
- A user-friendly modern design STP broker
- Quality trading tools on the MetaTrader platforms
- Low spreads from 0.0 pips on major currency pairs
- Features social and copy trading
- Minimum deposit requirement for UK traders can be high for low-budget individuals.
- Limited asset offerings compared to its peers
| Type | Fee |
| Minimum Deposit | $0 |
| Withdrawal fee | $0 |
| Deposit fee | $0 |
| Inactivity fee | No |
| Account fee | No |
2. eToro – Overall Best STP Broker in the UK
This is a multi-asset STP broker regulated by the FCA. The instruments available to traders include CFD, forex, stocks, and crypto. It also stands out for being a social trading platform, where traders interact and share trading ideas. In addition, traders enjoy this broker due to zero commissions on stock trading. For CFD trading, there are 47 currency pairs, 14 commodities, and 16 cryptocurrencies.
Making quick trading decisions is simple, as there are adequate analysis tools available on eToro. STP traders from the UK benefit from £85,000 worth of insurance. This is from the Financial Services Compensation Scheme. First-time traders may also try out copy portfolios from expert traders to build up their skills.
✔Low minimum to fund an account and begin investing
- Connect with other traders through the social trading feature
- Thousands of tradable instruments available
- Zero commission on stock trading
- Withdrawal fees are applicable
| Types | Fee |
| Minimum Deposit | $100 |
| Conversion Fee | depends on your payment method, currency, and eToro Club level. |
| Overnight Fee | vary according to the value and direction (BUY or SELL) of your position |
| Withdrawal Fee | all withdrawal requests are subject to a $5 USD fee |
| Inactivity Fee | monthly inactivity fee of $10 USD (charged after 12 months) |
3. Skilling – The Best STP Broker for Novice Traders
Skilling is a broker that focuses on connecting all traders to global markets. Novice traders appreciate the transparency of this platform. There are no hidden charges. In addition, there are more than 800 CFD and forex instruments available to trade.
There are 73 currency pairs to choose from, including exotic pairs. As a novice trader, you get to choose between two different pricing models. The standard account charges zero commission, meaning that you get to trade using spreads, which are also among the lowest. The premium account also has fixed commissions with a tight spread. To open an account, you need a minimum deposit of $100.
✔CFD and forex trading across the globe
- User-friendly platform
- Demo account features a virtual £10,000
- Traders can choose a standard or premium account
- Limited product portfolio
| Type | Fee |
| Minimum deposit | €100 |
| Inactivity fee | €10 |
| Deposit fee | €0 |
| Withdrawal fee | €0 |
4. FP Markets – Best With Social Trading Features
FP Markets is another STP broker worth considering, especially if you are looking to explore social trading features. According to my analysis, it lists over 70 currency pairs and an additional 10,000+ CFD assets you can use to diversify your portfolio. I also like that this broker has a low minimum deposit of £100 for UK clients. This, combined with zero transaction services and low spreads from 1 pip, makes FP Markets a suitable choice for low-budget traders.
When it comes to social trading, FP Markets connects you with global traders through the MT4 and MT5 platforms. Not only will you interact and learn trading tips but you can also practice copy trading, which at FP Markets is automated. The broker’s MetaTrader platforms also supply users with advanced resources, including a TradeMedic AI-powered tool to empower their performance. Other platforms available include TradingView, cTrader, and its proprietary WebTrader.
✔Accounts can be opened fast and easy
- Has a user-friendly STP trading platform with fast trade execution speed
- Low minimum deposit requirement
- Hosts quality trading tools, including Forex Calculator, Autochartist, TradeMedic, and more
- Quality support service operating 24/7
- It only lists CFD instruments
- Social trading is offered only on the MT4 and MT5 platforms
| Type | Fee |
| Minimum deposit | $100 |
| Overnight fee | $0 |
| Deposit fee | $0 |
| Withdrawal fee | Depends on payment method |
| Inactivity fee | $0 |
5. IG Markets – Top Option For Advanced Traders
After testing numerous STP brokers in the UK, I found IG Markets to be an excellent choice for advanced traders. This is primarily because of its vast resources, which I believe will excite those looking for quality trading tools to match their skills. They include algorithmic trading, stock screener, trading signals, to name a few. And the best part is these tools are spread across multiple platforms, including MT4, ProRealTime, TradingView, and L-2 Dealer. On top of that, getting started doesn’t require a minimum deposit, so invest any amount you can afford.
Overall, I discovered over 17,000 trading instruments at IG Markets. Forex pairs are more than 80, and you can easily diversify your portfolio with shares, commodities, options, indices, and more. I also noticed an investment platform for those looking to open and maintain long-term positions. For beginners, I advise you to get started at IG Markets’ demo account before investing real money in live trading. Take advantage of its numerous learning resources to advance your skills and become more independent.
✔ Leading broker with low fees
- No minimum deposit requirement to access the STP account
- Free deposits and withdrawals
- Quality learning and market analysis tools
- Reliable support service operating 24/5
- Forex CFD trading on the L-2 Dealer platform is available to professional traders only
- Its numerous resources can confuse newbies when navigating the platforms
| Type | Fee |
| Minimum account | £0 |
| Opening an account | £0 |
| Overnight funding | yes (depends on market) |
| Withdrawal fee | £0 |
| Inactivity fee | £12 per month after 2 years of inactivity |
| Advanced graphs (ProRealTime) | £30 per months |
What is STP (Straight Through Processing) Broker?
The Straight Through Processing (STP) broker can process client orders without any delay. This is because there are no intermediaries or filters through a dealing desk. When the broker does not have a dealing desk, the broker’s electronic trading platform is STP.
Pros and Cons of STP Brokers
Both novice and experienced traders choose STP brokers for quick trading solutions. Here are the main reasons STP brokers are so attractive and a disadvantage that you need to consider.
- Brokers rarely trade against their clients, unlike the market makers who do.
- There is no dealing desk.
- Client anonymity as orders are automatic on the market network.
- Prices quoted for trades are the best available for the moment.
- Trading decisions need to be made in a split second.
How to Choose the Best STP Broker in the UK
With a significant number of STP brokers available in the UK, you need to have some criteria to refer to when choosing the best broker. Good brokers make the entire process of STP trading easier to understand and execute. These are some of the features that you need to confirm.
The best STP brokers have a high level of licensing and regulation. In the UK, choose a broker that the FCA is regulating. If other international bodies regulate the broker, that is an added benefit. It is also a good indication that your funds with the broker are insured.
An excellent STP broker in the UK should not have hidden fees, costs, and commissions. There should be transparency on what is applicable when trading. Consider a broker with low trading and non-trading charges if you are a beginner. This allows you to improve your experience without spending a lot of money.
As you choose a broker, check what deposit and withdrawal options are available for you. The most popular should feature on the broker platform. These include debit and credit cards, eWallet options, prepaid cards, and bank transfers.
When choosing a broker, you need to ensure that your funds are separate from the company’s funds. This is so that your money is fully protected. For example, if the broker faces financial hardship or bankruptcy, you need to take out your trading debt. This segregation of funds ensures that you are protected. It also helps with security as your funds are with a third party.
The majority of STP brokers have 24/5 or 24/7 customer service. With this in mind, make sure your broker of choice has reliable customer support. They should also be available across various channels, including phone, email, and live chat.
FAQs
No Dealing Desk (NDD) brokers can be STP brokers. They are not the same since NDD brokers include both SEP and ECN brokers. Another key difference is that NDD brokers charge a commission on each trade. However, with STP, there are no commissions charged. Instead, there is a mark-up put in place called spread.
The choice of ECN or STP will be based on what the trader wishes to accomplish. With STP, everything can be an automated process, and there is no broker intervention. However, with ECN, brokers execute the trades and charge a commission for their services.
STP accounts have qualities of an ECN account and the dealing desk models. They enable direct trading without going through the dealing desk.
STP brokers tend to be more direct with their offerings. They also make their money from spreads per trade, while ECN brokers make their money through commission.
Conclusion
More transparent trades are a key benefit of choosing an STP broker. The opportunity to be ahead of the fast-paced financial market should drive your choice to try STP brokers in the UK. With them, you get an excellent price immediately after you complete your trade.
It’s worth noting that when comparing ECN vs STP brokers, ECN brokers provide direct access to the interbank market, while STP brokers act as intermediaries by routing orders to liquidity providers or market makers.
Choosing a reputable ECN, STP or NDD broker from these options can further optimize your trading experience.
How we test?
Our evaluation and testing process is thorough and exhaustive. First, we conduct extensive research. Our experts visit each broker’s official site and assess every offering. Then, we go to credible review sites like Trustpilot, Google Play, and the App Store and read user testimonials and feedback. After research, our experts proceed to the next step: testing.
The testing phase is critical in determining if brokers deliver as promised. We used demo and live accounts to vet available trading platforms, tools, and other resources. While doing so, our experts strive to identify the most pronounced strengths and weaknesses.
Why do we do all that? It’s simple. You are a valued member of the TradingGuide family, and we are committed to doing everything in our power to ensure you have access to the best brokers. Find out more about our test process here.
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Skilling has been my choice for crypto trading in the UK, and it's been great. The platform is easy to use, even for someone like me who's new to crypto. Buying and selling different cryptocurrencies is straightforward.
I was a bit confused about the differences between STP and ECN brokers, but the article clarified it well. Now I understand the importance of licensing, transaction options, and customer support when choosing a broker. It's great to know that an FCA-regulated broker provides an added layer of protection. The FAQ section was very helpful, answering my frequently asked questions. Thanks for the clear explanations!