DMA Forex Brokers

  1. What are DMA Forex Brokers?
  2. Best DMA Brokers
  3. DMA Forex Brokers for US
  4. DMA Stock Brokers
  5. DMA Forex Brokers List

What is DMA Broker?

DMA brokers are brokers provide Direct Markets Access through their platforms for traders wishing to execute their trades directly by interacting with an electronic order book.

  • DMA or Direct Market Access is an execution model within the financial markets while trading is performed through electronic solutions that enable direct connection to submit trading orders with the order book on an exchange.
  • In this way, traders get the opportunity to “watch” the market while dealing with financial market exchanges directly through a sophisticated tech infrastructure.

Read more about DMA through Wikipedia.

📊 CommissionYes / No
🔒 RejectionYes
💰 SlippageLow

What is DMA Trading Platform?

DMA Trading Platform is trading platform provided by the broker that offers a DMA execution type. So there’s no need to seek special platforms for that, if the broker does support DMA it will allow traders to execute trades directly with the order book through any of its platforms. Here are some of the most important notes for you before you proceed to DMA trading:

  • DMA offers relatively lower trading costs because the broker basically has a role of an agent and is not paid for order management etc. Also, the prices are quite competitive (and more competitive than OTC) as they are derived from various liquidity providers, banks, and exchanges.
  • Since DMA is complex and can be risky, it is recommended mostly for active traders and Professional traders who deal with big trading volumes.
  • DMA is giving access to a variety of trading strategies and is often combined with algorithms. While the trader can see different prices of different orders and place his own one accordingly, bypassing dealers.
  • This way creates endless possibilities for trading, however for now not so many Brokers provide DMA access mainly professional Brokers, and usually, Professional Traders need DMA access and use this type of execution.
  • DMA is usually used by Brokers offering to trade of Real Stocks, Indices, Futures, and Options
DMA Trading AdvantagesDMA Trading Disadvantages
Low Bid Ask SpreadsNot many Brokers provide true DMA
The prices quoted are likely to be more volatileFixed Spread is not available
Floating SpreadHigh minimum account size typically required
Commission charges to factor into profit and lossMainly suitable for Professional only
Direct Access to the Market
Mainly used for Real Stocks, Futures and Indices Trading
Lower potential for human error by a broker acting on your behalf
Speed of execution of trades

Top 5 Best DMA Forex Brokers

Since there are not so many Brokers with real DMA access, here we verify and select the Best DMA Brokers by category among the Best Forex Brokers with some of the best trading conditions and trustable standards of operation.

  • FP Markets– Best Overall DMA Broker 2024
  • IG – Best DMA Broker for Beginners 2024
  • Saxo Bank – Best DMA Broker for Professionals 2024
  • Interactive Brokers – Best EA Trading Broker 2024
  • XTB – Best Platform DMA Broker 2024

What’s the difference between DMA and ECN?

ECN and DMA both provide access to the markets and are execution type, but they do so in different ways. ECNs are connected to anonymous networks where brokers don’t make direct contracts with liquidity providers— instead, their trades go through a network of counter-parties for fast execution speeds. By contrast, DMA brokers connect directly with each liquidity provider using individual contracts that often feature more customization options regarding order types and spreads.

DMA Forex brokers for US

There are many brokers in the United States that offer DMA to their customers. Some of the most popular ones are Interactive Brokers, RobinHood, and IG. 

DMA Stock Brokers

DMA Stock Brokers allow their traders to place the trades directly into the order books of major stock exchanges. TradeStation and are the most popular DMA Stock Brokers. 

 DMA Forex Brokers List

This is the full list of best brokers that offer DMA execution and trading and are highly regulated and reviewed by our experts:

Broker Detail
Min. Deposit: 0 US$
Max. Leverage: 1:2000
Trading Platforms: MT4, MT5, HFM Trading App
Regulation: CySEC, FCA, DFSA, FSCA, FSA, CMA
HFM Review
FPM logo FP Markets
Min. Deposit: 100 US$
Max. Leverage: 1:30
Trading Platforms: IRESS, MT4, MT5, cTrader
Regulation: ASIC, CySEC, St. Vincent and the Grenadines, FSP, CMA
FP Markets Review
Saxo Bank
Min. Deposit: $5,000
Max. Leverage: 1:30
Trading Platforms: SaxoTraderGo, SaxoTraderPRO
Saxo Bank Review
Min. Deposit: No minimum deposit
Max. Leverage: 1:50
Trading Platforms: MT4, fxTrade Mobile, TradingView
Regulation: NFA, CFTC
M1 Finance Review Logo M1 Finance
Min. Deposit: $100
Max. Leverage: Margin Trading
Trading Platforms: M1 Proprietary Trading Platform, Mobile Apps
Regulation: SEC, FINRA, SIPC
M1 Finance Review
Qtrade Review Logo Qtrade
Min. Deposit: $0
Max. Leverage: Margin Trading
Trading Platforms: Qtrade Proprietary Trading Platform
Regulation: IIROC, CIPF
Qtrade Review
Ally Invest Review Logo Ally Invest
Min. Deposit: $0
Max. Leverage: Margin Trading
Trading Platforms: Ally Invest Proprietary Trading Platform
Regulation: SEC, FINRA, SIPC
Ally Invest Review