Top 7 Best DMA Forex Brokers for 2020

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Are you looking for the best DMA forex broker because you want to trade with deep liquidity and avoid market makers?

Do you want to know what are the best DMA brokers specifically in UK or Australia?

We can help you.

DMA trading can be provided in several different ways with brokers usually striking deals with various banks and other liquidity providers to get hold of the best market access possible.

But not all brokers can provide retail forex traders with the DMA trading experience they really want.

On top of that, they may lack the tools needed to really take advantage of that liquidity. Whatever broker you decide to use, make sure they can accommodate your trading style.

Top 7 Best Dma Forex Brokers Of 2020

Here’s our ranking:

  • Regulations: ASIC
  • Minimum deposit: $200
  • Platforms: MT4, MT5, cTrader
  • InvestinGoal rank: 4.8/5


74-89 % of retail CFD accounts lose money

1. IC Markets

Operating since 2007, IC Markets have been offering DMA since 2010 and have some of the best market access available today. Traders with IC Markets can find the best DMA conditions using the webIRESS Plus platform, that said, IC Markets also supports a large range of other platforms as well. IC Markets’ excellent market access comes from its intricate web of market participants that includes high-level banks and darkpools.

  • Regulations: International Capital Markets Pty Ltd. licensed by ASIC (AFSL no. 335692). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker, ECN, STP
  • Leverage: 1:500
  • Minimum Deposit: $ 200
  • Platforms: MT4, MT5, MT WebTrader, MT iPhone/iPad, MT Android, MT Mac, cTrader, cTrader Web, cTrader Android, cTrader iPhone/iPad, cTrader cAlgo
  • Headquarters: International Capital Markets Pty Ltd. is headquartered in Sydney, Australia
  • US Customers: No
  • Other instruments: CFDs on indices, commodities, stocks, futures, bonds, cryptocurrency
Try IC MARKETS with a demo account

74-89 % of retail CFD accounts lose money

  • Regulations: ASIC, FCA
  • Minimum deposit: $200
  • Platforms: MT4, MT5, cTrader,cAlgo
  • InvestinGoal rank: 4.8/5


73.6% of retail CFD accounts lose money

2. Pepperstone

Pepperstone is well-known for its excellent service and superior trading speeds and is a sublime allrounder. Traders can utilise either cTrader or MT4 with either the ECN Razor Account or the STP Standard Account to access DMA CFDs. It should also be mentioned that Pepperstone’s web trader is also highly respected as well. Additionally, in 2018, they were rewarded Best Forex ECN Broker by the UK Forex Awards.

  • Regulations: Pepperstone Limited authorised & regulated by the FCA (684312); Pepperstone Group Limited registered with ASIC (414530). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: ECN, Market Maker
  • Leverage: 500:1 ASIC; 30:1 FCA
  • Minimum Deposit: $ 200
  • Platforms: MT4 (desktop, iPhone/iPad, Android), MT5 (desktop), cTrader (web platform, cAlgo, cTrader mobile)
  • Headquarters: Pepperstone Group Limited is headquartered in Melbourne, Australia
  • US Customers: No
  • Other instruments: CFDs on indices, commodities, cryptocurrency
Try PEPPERSTONE with a demo account

73.6% of retail CFD accounts lose money

  • Regulations: FCA, IFSC, KNF, CNMV
  • Minimum deposit: $250
  • Platforms: MT4, xStation5
  • InvestinGoal rank: 4.3/5


79% of retail CFD accounts lose money

3. XTB

In recent years XTB has risen to become one of the most reputable brokers available, showing traders it can be fairer, more flexible and offer better technology than many of its more established rivals. With XTB, it is possible to trade DMA Stock CFDs which is great for traders who are keen on this instrument. XTB’s xStation 5 also offers traders some of the best execution speeds available today.

  • Regulations: XTB International Limited authorised & regulated by the IFSC (IFSC/60/413/TS/17); XTB Limited authorised & regulated by the FCA (522157) and by CySEC (169/12); X-Trade Brokers DM SA authorised & regulated by the KNF; XTB Sucursal authorised & regulated by the CNMV. (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:200
  • Minimum Deposit: £ 250, € 250 or $ 250
  • Platforms: MT4, xStation 5
  • Headquarters: XTB Group is headquartered in Warsaw, Poland
  • US Customers: No
  • Other instruments: CFDs on stock indices, commodities, ETFs, cryptocurrency
Try XTB with a demo account

79% of retail CFD accounts lose money

  • Regulations: FCA, ASIC
  • Minimum deposit: $250
  • Platforms: MT4, L2 Dealer
  • InvestinGoal rank: 4.5/5


81% of retail CFD accounts lose money

4. IG

Over the years IG has developed a range of tools for DMA usage. For experienced traders, IG recommends their L2 Dealer platform, a downloadable DMA platform specifically for forex and shares trading, which also offers the ability to automate trades. DMA trading is also available on IG’s web platform and for iPad and iPhone apps too.

  • Regulations: IG Markets Limited licensed by ASIC (AFSL no. 220440), licensed by the FSP (No. 18923), and authorised & regulated by the FCA (195355); IG Index Ltd authorised & regulated by the FCA (114059). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:200
  • Minimum Deposit: £ 250 or equivalent
  • Platforms: MT4, web platform, trading apps (iPhone, iPad, Android mobile, Android tablet), L2 Dealer
  • Headquarters: IG Markets Limited is headquartered in London, UK
  • US Customers: No
  • Other instruments: CFDs on shares, indices, bonds, options, interest rates, sectors, cryptocurrency; spread betting; digital 100s
Try IG MARKETS with a demo account

81% of retail CFD accounts lose money

  • Regulations: ASIC
  • Minimum deposit: $2,500
  • Platforms: DMAHub, Fortex, MT4
  • InvestinGoal rank: 4.5/5


74-89% of retail CFD accounts lose money

5. Advanced Markets

Advanced Markets liquidity is so great most of its business is built upon providing other brokers with market access, even offering institutional clients to choose which market participants provide them with DMA access. They also boast that they have never had a moment of downtime and their trading tools are some of the very best.

  • Regulations: Advanced Markets LTD. is licensed by ASIC (444649). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: ECN
  • Leverage: 1:50
  • Minimum Deposit: $ 2,500
  • Platforms: DMAHub, Fortex 5, Fortex 6, MT4
  • Headquarters: Advanced Markets LTD.is headquartered in Grand Cayman, Cayman Islands
  • US Customers: No
  • Other instruments: CFDs on metals, energy, commodities
Try Advanced Markets with a demo account

74-89% of retail CFD accounts lose money

 

  • Regulations: FINMA
  • Minimum deposit: $10,000
  • Platforms: SaxoTraderGO, SaxoTraderPRO
  • InvestinGoal rank: 4.5/5


74% of retail CFD accounts lose money

6. Saxo Bank

Saxo Bank is another broker that also uses its deep liquidity to service institutional clients. By using NY4, LD4 and TY3 data centres and more than 25 tier 1 liquidity providers, Saxo Bank ensures it can constantly deliver DMA trading. Since 2015 Saxo Bank has provided retail traders DMA CFD trading on forex and precious metals.

  • Regulations: Saxo Bank A/S regulated by the Danish FSA; Saxo Capital Markets UK Limited authorised & regulated by the FCA (551422); Saxo Capital Markets Pte. Ltd. Singapore supervised by MAS (200601141M); Saxo Bank A/S, DIFC Representative Office licensed by DFSA (CL2637); Saxo Bank FX K.K. licensed by the Japanese FSA (239); Saxo Capital Markets Hong Kong Ltd. registered by the SFC (1395901); Saxo Capital Markets (Australia) Pty. Ltd registered by ASIC (126 373 859). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker, ECN
  • Leverage: 1:200
  • Minimum Deposit: $2,000
  • Platforms: SaxotraderGo (web platform), SaxoTraderPRO (Windows, Mac)
  • Headquarters: Saxo Bank A/S is headquartered in Copenhagen, Denmark
  • US Customers: No
  • Other instruments: CFDs on stocks, ETFs, indices, commodities, government bonds, index options
Try SAXO BANK with a demo account

74% of retail CFD accounts lose money

  • Regulations: CIMA, NFA, CFTC, FCA, IIROC, FFA, SFC
  • Minimum deposit: $50
  • US Customers: YES
  • InvestinGoal rank: 3.7/5

70% of retail CFD accounts lose money

7. Forex.com

With Forex.com, traders can sign up for a DMA Account which can be used on all three of their available platforms – Advanced Trading, web platform, and mobile. Market access is also provided by a range of top tier global banks and other liquidity providers to give traders the most accurate prices.

  • Regulations: com registered at the FCM and RFED with the CFTC and member of the NFA (NFA # 0339826); GAIN Capital UK Ltd authorised & regulated by the FCA (113942); GAIN Capital – Forex.com Canada Ltd. regulated by IlROC; Gain Capital Japan Co., Ltd. regulated by the FSA. (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker, ECN
  • Leverage: 1:50
  • Minimum Deposit: $ 250
  • Platforms: Advanced Trading (desktop), Web platform, mobile (iOS and Android)
  • Headquarters: GAIN Capital Holdings is headquartered in Bedminster, USA
  • US Customers: Yes
  • Other instruments: CFDs on indices, commodities, equities, bonds and rates, cryptocurrency (UK only); Bitcoin futures (US only); binaries
Try FOREX.COM with a demo account

70% of retail CFD accounts lose money

Top 5 Best DMA Forex Brokers UK for 2020

While UK DMA forex brokers happen to be some of the best, there are, unfortunately, plenty of brokers that falsely claim to offer DMA  execution.

To make things worse, there are also a number of poorly-informed websites that claim a broker is DMA, but they are just feeding you wrong information. In reality, there are only a handful of true UK DMA forex brokers, and they are hard to come by.

Why look for a UK DMA broker?

Well, not only do they offer some of the best services, they are also regulated by the FCA, one of the most reputable regulators in the world.

Here’s our detailed list of the best UK DMA forex brokers (regulated or authorized by FCA) according to our research:

  1. Pepperstone
  2. IG Markets
  3. Forex.com
  4. Advanced Markets
  5. Saxo Bank

Top 6 Best DMA Forex Brokers Australia for 2020

If you’re looking for an Australian DMA (Direct Market Access) forex broker, then you already know that DMA CFD brokers in Australia are some of the best.

Not only do they benefit from ASIC regulation, but they also provide some of the best services. Unfortunately, the internet is littered with websites stating which Australian brokers are DMA and which aren’t.

The fact is true DMA forex brokers in Australia are actually hard to come by and you shouldn’t trust the first source you come across. Always do plenty of research when looking into Australian DMA forex brokers!

Here’s our detailed list of the best Australian DMA forex brokers (regulated or authorized by ASIC) according to our research:

  1. Pepperstone
  2. IC Markets
  3. Forex.com
  4. IG Markets
  5. Advanced Markets
  6. Saxo Bank

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