ECN (Electronic Communication Network) brokers are brokers Non Dealing Desk which is believed to be able to provide the best prices and execution. ECN brokers are also sought after because they can reduce the risk of manipulation from brokers.

Meanwhile, STP (Straight Through Processing) brokers are brokers that offer low deposits. STP brokers usually take advantage of the spread charged on each trader's transaction.

So, ECN and STP brokers are actually two different types of brokers. However, because many traders prefer ECN brokers, STP brokers are less competitive. In fact, STP brokers provide fees that tend to be lower than ECN brokers.

Finally, brokers today do not focus on one ECN or STP service alone, but rather combine both. Brokers like this are called ECN/STP brokers or Hybrid brokers, namely brokers that offer the benefits of ECN services while also providing reduced fees in STP mode.

Here are the 7 best ECN/STP brokers to choose:

1. RoboForex: offers zero spread and zero commission
2. Admirals: low spreads starting from 0.1 pips with a minimum deposit of $1
3. ThinkMarkets: no minimum deposit, zero commission, and low spreads
4. Octa: zero commission with spreads on major pairs starting from 0.6 pips
5. FXTM: low spreads starting from 0.2 pips
6. LiteFinance: commissions as low as $0.5 only
7. FBS: low spreads around 1 pip for major pairs

ECN/STP accounts are suitable for traders who want low spread costs and instant execution, such as scalpers and EA (Expert Advisor) users.

However, there are several things that must be considered when choosing the best ECN/STP broker:

1. Regulated
   The main principle in choosing any broker is of course regulation. Choose a broker that is registered with a well-known regulatory body. It would be much better if the broker chosen is regulated by a high-level regulatory body or regulatory body in the trader's home country.
2. Low commission
   Pay attention to the amount of commission set by the ECN/STP broker because it can affect the trading costs you have to pay. Choose a broker that offers low commissions, not ones that are too high.
3. Low minimum deposit
   With a low minimum deposit, traders can open several trading positions at once. Apart from that, novice traders who have limited capital can also enjoy ECN/STP broker services without having to invest large amounts.
4. Deposit via local bank
   This can certainly make things easier for all traders from any country. The availability of local banking methods allows traders to deposit using local currency without having to convert it first.

With these 4 considerations, below we have summarized the 7 best ECN/STP brokers that you can choose.

1. RoboForex

• Regulation: IFSC Belize
• Spread: 0 pips
• Commission: $0 per lot
• Minimum Deposit: $10
• Local Bank Deposit: Available

The next best ECN/STP broker is RoboForex. This broker has been established since 2008 but only served clients on a massive scale in 2009. RoboForex is known as a broker that often receives global awards.

Regarding its trading services, RoboForex offers floating spreads starting from 0 pips and $0 commission per lot side. Leverage allowed can reach 1:1000. The minimum deposit required to open an account is only $10 for Cent, Standard, ECN, and Affiliate account types.

Thanks to its IFSC Belize regulation, RoboForex can provide flexible trading conditions and even facilitate its clients. It's no wonder this broker won the "Best Trading Conditions" award from International Business Magazines last year.

See also:

RoboForex Testimonials

2. Admirals

• Regulation: ASIC, CySEC, FCA, FSCA
• Spread: 0.1 pips
• Commission: $3 per lot
• Minimum Deposit: $1
• Local Bank Deposit: Available

The next best ECN/STP broker is Admirals which has been operating since 2001. This broker has head offices in the United Kingdom, Germany and Australia.

The spread that applies to major pairs at Admirals starts from 0.1 pips with a commission of $3 per side lot. Traders only need to make a $1 deposit to open an Admirals account.

There are 4 types of Admirals accounts offered, namely Trade.MT4, Trade.MT5, Zero.MT4, and Zero.MT5. There are swap free accounts and leverage for all account types reaches 1:500.

See also:

Admirals Testimonials

3. ThinkMarkets

• Regulation: ASIC, FCA, CySEC, JFSA, FSA Seychelles, FSCA
• Spread: 0.8 pips
• Commission: $0 per lot
• Minimum Deposit: $0
• Local Bank Deposit: Available

Having been operating for more than a decade, ThinkMarkets broker, formerly known as ThinkForex, offers beginner-friendly trading services.

Spreads for various major pairs start from just 0.8 pips with no minimum deposit to open a trading account. This broker from Australia only has 2 types of accounts, namely Standard and ThinkZero accounts. $0 commission applies to Standard accounts only. For ThinkZero accounts, there is a commission of $3.5 per lot side.

Meanwhile, the leverage that traders can enjoy can reach 1:500. Hedging, scalping and EAs are allowed. There is a swap free account specifically for Muslim traders. With the ThinkTrader application, trading becomes effortlessly accessible from anywhere, empowering you to execute transactions seamlessly on your mobile device.

See also:

ThinkMarkets Testimonials

4. Octa

• Regulation: CySEC, FSA SVG
• Spread: 0.6 pips
• Commission: $0
• Minimum Deposit: $25
• Local Bank Deposit: Available

Octa Broker or previously known as OctaFX is an ECN/STP broker that has been operating since 2011. This broker claims that its market order execution speed is only 0.1 seconds.

Octa offers cost-efficient trading conditions with low spreads, including a lowest floating spread of 0.6 pips for major pairs and an average spread of only 1 pip. The absence of commissions per transaction can be advantageous for traders seeking a transparent fee structure.

However, the high minimum deposit requirement of $25 may limit accessibility for some traders, particularly those with smaller capital. Despite this, Octa's combination of low spreads and commission-free trading may appeal to specific traders who prioritize these features in their trading strategy, potentially providing the platform with a competitive edge in the market.

Octa broker only has 2 types of accounts, namely Octa MT4 and Octa MT5. Both can be used for hedging strategies as well as trading robots or EAs . The applicable leverage is 1:500 with a minimum lot of 0.01.

See also:

Octa Testimonials

5. FXTM

• Regulation: FCA, CySEC, FSCA, FSC Mauritius
• Spread: 0.2 pips
• Commission: $4
• Minimum Deposit: $10
• Local Bank Deposit: Available

FXTM, also known as ForexTime, is a well-established ECN/STP broker that has been in operation since 2011. What sets FXTM apart? The account opening process is quick, taking only about 12 minutes.

FXTM offers various account types, including Standard, FXTM Pro, FXTM ECN, ECN Zero, ECN, and Cent. One notable feature is the high leverage, ranging from 1:1000 to 1:2000.

For major pairs like EUR/USD, the spread is as low as 0.2 pips, and other major pairs also have low spreads. Spreads are floating on all accounts except for Cent accounts, which have fixed spreads. And the cherry on top? You can kickstart your FXTM journey with just a minimum of $10.

There's a nominal $4 commission per lot traded, but the good news is, that FXTM welcomes hedging, scalping, and EA strategies with open arms. So, whether you're a seasoned trader or just dipping your toes into the forex world, FXTM has got you covered.

See also:

FXTM Testimonials

6. LiteFinance

• Regulation: CySEC, FSA SVG
• Spread: 0 pips
• Commission: $0.5 per lot
• Minimum Deposit: $50
• Local Bank Deposit: Available

The next best ECN/STP broker that is quite recommended is LiteFinance. This broker also has a mobile trading application, but the quality is still far below ThinkTrader. However, deposit options via local banks are more varied.

Regarding trading services, floating spreads apply starting from 0 points for ECN accounts and 3 points for Cent accounts. The commission also tends to be low, namely only $0.5 per side lot. However, a larger deposit is required, namely up to $50 for an ECN account.

The leverage offered on all accounts reaches 1:500. There is VPS feature if traders want it. For social traders, LiteFinance also has social trading services on all its trading platforms.

See also:

LiteFinance Testimonials

7. FBS

• Regulation: ASIC, CySEC, IFSC Belize, FSCA
• Spread: 1 pip
• Commission: $6
• Minimum Deposit: $100
• Local Bank Deposit: Available

FBS Broker is one of the ECN/STP brokers that is popular among traders. This broker's trading volume always increases every year and the number of FBS clients, both retail and partners, also always increases.

This multi-regulated broker offers low floating spreads as low as 1 pips for the most liquid major pairs. However, the commission is slightly higher than the previously mentioned brokers. The minimum deposit required is also quite large, namely up to $100. This is certainly an added consideration for traders with limited capital.

See also:

FBS Testimonials

Which ECN/STP Broker is Best for Me?

Based on the explanation above, it can be said that RoboForex, Admirals, and ThinkMarkets are the ECN/STP brokers that offer the best fees. Starting from the spread, commission and minimum deposit required, it is very low, making it suitable for traders who have limited capital or beginner traders.

If you are not sure about RoboForex because of the license it has, then the best choice falls on Admirals and ThinkMarkets. If you like mobile trading, then ThinkMarkets is the best option because the trading application is very good and has good reviews on both the Google Play Store and App Store.

Broker Octa, FXTM, LiteFinance, and FBS actually still offers good ECN/STP services. It's just that the commission and minimum deposit required are more than the top 3 brokers. If you don't mind the fees, then these brokers are worth a try.