DMA (Direct Market Access)
Execution straight into the real order book, no dealer between you and the market.
DMA sends your orders directly to the real order book with no dealer in between. You see true depth and pay commission instead of hidden markup.
Direct Market Access routes your orders straight to the exchange or liquidity pool order book, where they rest visibly and fill against real counterparties. No dealer reprices them, which means transparent fills, market impact on size, and commissions instead of hidden markups.
How It Works
- Orders rest visibly in the central book
- Fills come from real counterparties at shown prices
- Broker earns commission, not spread markup
Trading Tips
Demand DMA when size makes markups expensive
Watch depth before market-ordering size
Compare all-in cost against spread-only feeds
DMA (Direct Market Access) Example
Say you buy 5 lots EUR/USD on DMA at 0.1 pips plus $3 commission per side. Total cost near $35. The market-maker feed quoting 1.2 pips costs $120 for the same fill. Size makes the model.
How Traders Use DMA (Direct Market Access)
Move to DMA when your monthly volume makes markups your biggest cost. Until then, honest spread pricing is simpler. Verify DMA claims by checking fills in fast markets.
Related Terms
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