Best DMA Forex Brokers for 2020

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.

# Forex Broker Year Regulator
1 Pepperstone Pepperstone 2010 ASIC, FCA
2 GFTrade GFTrade 2016 FSA
3 RoboMarkets RoboMarkets 2012 CySEC
4 Gulf Brokers DMCC Gulf Brokers DMCC 2007 ESCA
5 IMMFX IMMFX 2014 VFSC
6 RoboForex RoboForex 2009 IFSC
7 TradeStation TradeStation 1982 CFTC, FCA, NFA, SEC

DMA/STP vs STP

With regular STP (Straight Through Processing) – a broker will fill clients’ orders (though Instant execution) on his own side. Then a broker will go to hedge these orders with own liquidity providers. Since a broker seeks profits in this hedging operation, traders can experience re-quotes if there is no profitable hedging opportunities for a broker at the very moment your trading request was submitted. The price you get from an STP broker will be higher than the best price a broker can receive from the liquidity provider. With DMA/STP (Direct Market Access STP) – a broker will pass clients’ orders directly to the liquidity providers, where it’ll be filled at the best available price with one of the liquidity providers (+ a small fixed mark-up from the broker). This is done using Market execution, which ensures that all orders will be filled at the best offered rate (which, however, might not be the exact rate you clicked on (your connection speed combined with short-lived price bids from liquidity providers), but since DMA technology always has only real tradable prices, there will be no re-quotes, your trade will always be opened and closed on your click.

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