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DMA Forex brokers | DMA (Direct Market Access)




DMA Brokers. What is DMA?

DMA - Direct Market Access - is a type of FX execution where traders are offered direct access to the physical market, enabling them to place trading orders with liquidity providers (leading foreign exchange banks, other brokers, market makers etc).

Sounds similar to STP and ECN dealing? It's close, but there is a difference.

DMA (Direct Market Access) is offered by ECN brokers and by some STP brokers. In fact, ECN brokers always offer DMA, but not all STP brokers offer DMA. Let's take a look at the differences.
Read more...



Broker discussion area

trader

December 10, 2013

are there brokers that offer no spread account with commission?


trader

November 29, 2013

Sorry, but pepperstone has two type accounts, one razor that is ECN, and one standard that is STP but not DMA (It say "STP processing and liquidity from 22 banks and ECN's" and allow micro lots). If DMA should not allow micro lots and should be not connected to ECN's.


BrokerGuru

October 27, 2013

Admiral Markets offers ECN accounts (Admiral Pro accounts) and Dealing desk (Admiral Standard) accounts.
The broker doesn't offer DMA accounts.


trader

October 26, 2013

Admiral Markets is DMA or not?


trader

October 17, 2013

Hi do you have direct contact with http://www.liquidex.eu/? ive been contacting them for 2 weeks already but still no reply


BrokerGuru

October 15, 2013

True, thank you!
Will be corrected.


trader

October 15, 2013

trader
henryluk,hk
Oct 15,2013

why there is no Sun Hung Kai Financial Ltd on your list? it is a DMA forex broker in Hk.


BrokerGuru

October 9, 2013

Thank you!

AssetsFX and ETF are still online. Yes, traders should read reviews on multiple sites before choosing a broker. FPA is one of the
most informative sites when it comes to broker reviews.
Andromex - a broker has just been listed last month, and already gone.. Thank you, we'll give their site another few weeks (just in case) and then delete the listing.

@trader: all brokers on the list are true DMA (otherwise we wouldn't list them here).
We can't recommend brokers as per our site policy. (We must remain 100% unbiased and not favor any broker here).


trader

October 8, 2013

pls update your list some brokers are not online anymore has scam reports.

http://www.forexpeacearmy.com/public/review/www.assetsfx.com
http://www.forexpeacearmy.com/public/review/www.etftrendtrading.com
http://www.andromex.com/


Konstantinos

October 8, 2013

Great job on keeping us informed, much appreciated. I would like to ask you if Octa Fx
is a true DMA broker.

Thanks again.

Konstantinos


trader

October 8, 2013

what brokers would you recommend that is a true DMA broker? i dont want to ask this broker 1 by 1 just to know if they are DMA or not.. thank you.


BrokerGuru

September 13, 2013

Sorry, unfortunately we can't be bias or recommend any broker due to our web policy, which requires us to keep neutral position towards all brokers.


trader

September 12, 2013

Hi

i have a Arbitrage EA and we've been scavenging brokers that allow this kind of trading. so far we've been succesful to some of it.

my question is can u recommend a broker that can cater this kind of trading?

low spreads , lightning execution , and allows arbitrage EA


BrokerGuru

August 8, 2013

DMA is more complex to set up. You actually have to work on building a solid "portfolio" of LPs. And the more LPs you have the better (lower) will be spreads for your clients. Those LPs that can really deliver low competitive market quotes, they won't sign a contract with you if you can't show them that you're capable of delivering a good trading volume with your clients. DMA beats STPs with lower spreads and faster execution.

STP is way more simpler. You take a quote and pass it to your clients - no complex relationships with LPs, you can generate any trading volume, and you can survive even with one LP, and still call yourself "STP". You also have an option to work with "Instant execution" and fixed spreads. (DMAs can't have either).


trader

July 24, 2013

Hi BrokerGuru, as I understand from your article, a DMA/STP simply pass through the LP quote with a mark up, while a regular STP has more leeway in modifying the LP quote to suit their business strategy.

My question is, why a STP broker want to be non-DMA, when DMA can provide a constant and risk free way of revenue by simply marking up the LP quote? My guess is that, firstly, when a broker has few LPs, it allows their to smooth out the price and spread to be more in line with the interbank market. Secondly, to offer a fixed spread that some customers may prefer. Thirdly, some brokers may deviate the quote a bit away from the interbank market to increase their revenue without their customers noticing. Am I correct?

Why would a retail trader choose non-DMA over DMA?


BrokerGuru

July 7, 2013

ILQ is ECN.


trader

July 7, 2013

A person I know of is trading with ILQ (ilq.com), minimum deposit is $1.000.000. What kind of broker is ILQ? Thanks.


BrokerGuru

April 4, 2013

no, but thank you for the feedback.
We'll keep an eye on it.


trader

April 3, 2013

I just had a chat with IBFX and they would only confirm that they are an STP broker (+ Market Maker for tiny lots only). Have any of you heard any new info from IBFX regarding DMA?


BrokerGuru

March 13, 2013

FXPrimus has ECN Premier accounts - those are ECN.
While the rest of account options have fixed spreads, thus can't be DMA, sorry.


trader

February 23, 2013

Fxprimus also is a DMA. Thanks


BrokerGuru

January 23, 2013

With DOM, yo won't see who are the liquidity providers exactly, but you'll see a list of all Buy and Sell orders for the currency (or other trading instrument) you need.

You'll also see how large those orders are and what are their price ranges. DOM will help you to determine how good is the liquidity for a particular currency/market at the moment based on the number and size of orders being displayed in your DOM information sheet.


trader

January 23, 2013

I have a question related to below info about DOM:

DMA brokers offer:
- only Market execution
- only variable spreads
- only 5 digit pricing
- optional feature: DOM access (depth of the market book access)

Regular STP brokers offer:
- Instant or Market execution
- fixed or variable spreads
- 4 or 5 digit pricing
- no DOM access

What type of info I can get into DOM in case if broker has sev LP?
I would see limit orders into DOM from one or from all LP?


BrokerGuru

January 18, 2013

Thank you!


trader

January 18, 2013

Another DMA Broker:

Divisa Capital (www.divisafx.com)
Direct Currenex partner
Liquidity from 12 top tier banks
True DMA environment
MT4, Currenex or cTrader platforms


BrokerGuru

January 6, 2013

FxPro is ECN (cTrader accounts) and Market maker (other accounts).


trader

January 6, 2013

Is Fxpro a DMA/STP broker?


BrokerGuru

December 9, 2012

Hello Eddy,

we don't and can't recommend brokers. Our policy is to stay 100% unbiased while providing plenty of comparison tools for traders, so that they can make own broker choice.


trader

November 23, 2012

I am holding account with Zoya Forex (NZ) for last 6 month of time but i much comfortable with broker as Order Execution,serivce,response its all very good with that broker.


Eddy

November 23, 2012

Hi,
I'm Eddy, from Indonesia.
I"m a beginner trader, but i want trading forex seriously.
my question :
is FXDD & IBFX a good broker forex? where is "the best" beetwen them ?

thank"s

Eddy


BrokerGuru

November 23, 2012

Thank you!

Directa doesn't have an English version of the website, and Terms + Customer agreement in English that we can read in order to list it.


trader

November 21, 2012

Hey, why did't you listed Directa (http://www.directa.it/pub/de/conto/100/9.html)? They are offering forex-trading via LMAX also?

Best regards, trader


Slavisa Dosenovic

November 19, 2012

http://www.directa.it/pub/de/conto/100/9.html

Directa is the biggest Italian online broker, famous for cheap commis regarding stock trading. The broker with the LMAX-DMA-hub is offering a state of the art platform called Darwin.

Best regards, Slavisa Dosenovic


BrokerGuru

November 2, 2012

thank you for your feedback.

At FxPro only cTrader platform accounts are ECN/STP (minimum deposit $1000). Link: http://www.fxpro.com/trading/cfd/ecn

The rest are dealing desk, including MT4 platform accounts.

If it's the initial deposit, then $25000 is a very high investment for the retail account.
Ideally you would want to test-trade with a broker for a few months with a minimum deposit. This will allow you to evaluate real trading conditions, spreads, commissions and also, what's most important - you need to request a withdrawal at least once and receive it without any issues. Once you see the results and build confidence in your broker, you can make a larger deposit.

In case you still wish to deposit the whole amount at once, try to contact their customer support first and see if you'll be able to negotiate better trading conditions for your account, such as lower spreads and lower commissions. I would expect any broker to ideally treat you as a VIP client at that point.


trader

October 31, 2012

hi brokerguru,

first, thanks for your fantastic site

1-FxPro says it has STP ECN. Is its MT4 Platform a regular STP or a DMA STP ?

2-I want to fund 25000 $ is this amount high for retail account in FX business?

THXXXXXXXXXXX


trader

October 19, 2012

belarta.com - STP Forex broker


BrokerGuru

October 14, 2012

Thank you!


trader

October 13, 2012

www.jfdbrokers.com

Cysec - FSA - MIFID - BAFIN - I.C.F


Vasileios Vlachos

September 15, 2012

I have your demo platform with log in 9001578 since 21 August 2012.

Do you have offices outside the Euro zone and if so where.

Do you provide Technical Analysis. If so please send me an example thereof.

In addition to the spread costs, do you charge any commission and if so what is it.

Are clients funds segregated and if so which is your bank which holds the segregated funds.

Please send me an application form and let me know the minimum and currency you would accept.

Vasileios Vlachos


BrokerGuru

September 14, 2012

Thanks Mike!


mike

September 14, 2012

hi,

i got an answer from the FXCM support, and they say that the orders are executed at market.
they also say that for their CFD's (index trading) they are market maker, but they still guarantee no re-quotes with CFD's.

mike


BrokerGuru

September 6, 2012

Hi Mike,

the $2000 standard account with FXCM is DMA/STP.
To double confirm it, simply ask FXCM support about the execution type on this account. If you hear that it's only Market execution - you've got DMA/STP; but if it also has Instant execution besides Market execution, then it's only STP.


mike

September 6, 2012

hi brokerguru,

first, thanks for your great homepage!

you have FXCM listed as DMA/STP...i am thinking about opening a standard account (min. EUR 2000,-) with the FXCM-affiliate in germany, and as some brokers have different conditions for their different accounts, i would like to know if the FXCM standard-account (EUR 2000,-) is a DMA/STP account, or only STP or what is it?

thanks in advance!

mike


BrokerGuru

September 2, 2012

MasterForex has ECN accounts for Currenex trading platform (these are no dealing desk starting from $500 minimum deposit). While the rest of accounts are dealing desk (from $1 minimum deposit).


trader

September 2, 2012

How about MasterForex, are they dealing desk or no dealing desk? If they are no dealing desk broker, what kind? ECN, STP, DMA, or Hybrid???


trader

August 28, 2012

This details are very useful for beginners, thanks a lot..!!!


BrokerGuru

July 23, 2012

Yes, FinFX offers DMA/STP accounts.
FXPrimus has STP accounts, which are not DMA, just STP. They also have ECN accounts (ECN Premier accounts).


trader

July 21, 2012

Please i wolike to know if finfx, direct currency markets, and fxprimus are true dma brokers thanks in anticipation of your response


BrokerGuru

July 16, 2012

Correct. HotForex offers no dealing desk on all accounts, it's STP: either ECN/STP or DMA/STP


trader

July 16, 2012

I had a talk with the representatives of HOTFOREX and they said that there all accounts are STP and they do not have dealing desk for any of there account, is that true?



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