Best DMA Brokers 2026
We tested brokers with Direct Market Access (DMA) and ranked the best options, providing transparency, tight spreads, and excellent market liquidity.
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1
During our tests, Interactive Brokers provided institutional-grade DMA with excellent order book depth, fast execution, and minimal slippage, even in volatile markets. Commissions ranged by volume but averaged $2–$3 per lot. Its SmartRouting system ensured top-quality fills, making it perfect for high-frequency and professional traders who need precision and control.
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2
In our FOREX.com test, true DMA access was exclusive to their DMA account, not standard platforms. Execution was swift, offering full order book visibility and raw spreads with commissions starting at $6 per lot round turn. Suitable for professional, high-volume traders who value transparency and direct market interaction.
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3
When we tested IC Markets' Raw Spread account, execution was seamless with tight 0.0 pip spreads, $3.50 per lot per side, and strong liquidity in major pairs. Orders filled quickly with minimal slippage, even during news events. Direct order book access offered high-volume traders excellent control and transparency.
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4
When testing Pepperstone’s DMA via cTrader, order book interaction was smooth with fast execution and low slippage, even in volatile conditions. Liquidity depth was impressive, with commissions averaging $3.50 per lot per side. It is cost-effective for high-volume traders needing speed, transparency, and accurate pricing.
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5
LiteForex Europe offered DMA access through ECN accounts during our tests, enabling direct order book interaction with quick execution and moderate slippage. Commissions averaged $5 per lot round turn. The spreads were not the tightest, but the execution speed and pricing transparency made it suitable for mid- to high-volume traders looking for efficiency.
Top DMA Brokers Comparison
| Broker |  |
USD Account |
Execution Speed |
Guaranteed Stop Loss |
Leverage |
|---|---|---|---|---|---|
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✓ | ✓ | ✗ | 1:50 | |
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✓ | ✓ | ✗ | 1:50 | |
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✓ | ✓ | ✗ | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) | |
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✓ | ✓ | ✗ | 1:30 (Retail), 1:500 (Pro) | |
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✓ | ✓ | ✗ | 1:30 | |
| Broker | |
USD Account |
Execution Speed |
Guaranteed Stop Loss |
Leverage |
Broker Details Comparison
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Assets |
Platforms |
|---|---|---|---|---|---|---|
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✓ | $0 | $100 | 1:50 | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower |
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✓ | $100 | 0.01 Lots | 1:50 | Forex, Stock CFDs, Futures, Futures OptionsForex, CFDs, Stock CFDs, Indices, Commodities, Futures, Options, Crypto | WebTrader, Mobile, MT4, MT5, TradingView |
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✓ | $200 | 0.01 Lots | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower |
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✓ | $0 | 0.01 Lots | 1:30 (Retail), 1:500 (Pro) | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto (only Pro clients), Spread Betting | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade, Quantower |
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✓ | $50 | 0.01 Lots | 1:30 | CFDs, Forex, Indices, Commodities | MT4, MT5 |
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Assets |
Platforms |
Safety Comparison
Compare how safe the Best DMA Brokers 2026 are.
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
|---|---|---|---|---|
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✗ | ✓ | ✓ | |
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✗ | ✓ | ✗ | |
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✗ | ✓ | ✓ | |
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✗ | ✓ | ✓ | |
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✗ | ✗ | ✗ | |
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
Mobile Trading Comparison
Compare the mobile trading features of the Best DMA Brokers 2026.
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
|---|---|---|---|---|
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iOS & Android | ✓ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
Comparison for Beginners
Compare how suitable the Best DMA Brokers 2026 are for beginners.
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
|---|---|---|---|---|---|---|---|
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✓ | $0 | $100 | ✓ | ✗ | ||
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✓ | $100 | 0.01 Lots | ✗ | ✗ | ||
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✓ | $200 | 0.01 Lots | ✗ | ✗ | ||
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✓ | $0 | 0.01 Lots | ✗ | ✗ | ||
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✓ | $50 | 0.01 Lots | ✗ | ✗ | ||
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
Comparison for Advanced Traders
Compare how suitable the Best DMA Brokers 2026 are for advanced or professional traders.
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
|---|---|---|---|---|---|---|---|---|
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Capitalise.ai, TWS API | ✗ | ✗ | ✓ | ✗ | 1:50 | ✓ | ✓ |
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Expert Advisors (EAs) on MetaTrader | ✓ | ✓ | ✓ | ✗ | 1:50 | ✓ | ✗ |
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Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade | ✓ | ✗ | ✗ | ✗ | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) | ✓ | ✗ |
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Expert Advisors (EAs) on MetaTrader | ✓ | ✓ | ✗ | ✓ | 1:30 (Retail), 1:500 (Pro) | ✓ | ✗ |
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Expert Advisors (EAs) on MetaTrader | ✗ | ✗ | ✗ | ✗ | 1:30 | ✓ | ✗ |
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
Accounts Comparison
Compare the trading accounts offered by Best DMA Brokers 2026.
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
|---|---|---|---|---|---|---|---|---|---|
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✓ | USD: 4.8%, GBP: 4.7% | ✗ | ✓ | ✓ | ✗ | ✓ | ✗ | ✗ |
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✓ | ✗ | ✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
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✓ | ✗ | ✓ | ✗ | ✓ | ✓ | ✓ | ✗ | ✗ |
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✓ | ✗ | ✓ | ✗ | ✓ | ✓ | ✓ | ✗ | ✓ |
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✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
Detailed Rating Comparison
Compare how we rated the Best DMA Brokers 2026 in key areas.
| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
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| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
Fee and Cost Comparison
Compare the cost of trading with the Best DMA Brokers 2026.
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
|---|---|---|---|---|---|---|
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✗ | $0 | 0.003 | 0.08-0.20 bps x trade value | 0.12%-0.18% | |
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✗ | $15 | 0.14 | 1.2 | BTC 1.4%, ETH 2% | |
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✗ | $0 | 0.02 | 0.02 | BTC 42.036 | |
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✓ | $0 | 0.02 | 0.1 | BTC 30, ETH 0 | |
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✗ | $10 | N/A | 0.1 | ✗ | |
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
Broker Popularity
See how popular the Best DMA Brokers [year] are in terms of number of clients.
| Broker | Popularity |
|---|---|
| Interactive Brokers |
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| Pepperstone |
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| LiteForex Europe |
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| FOREX.com |
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| IC Markets |
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Why Trade With Interactive Brokers?
Interactive Brokers is ideal for seasoned traders due to its robust charting platforms, updated data, and adaptability, especially with the IBKR Desktop application. Its exceptional pricing and advanced order features appeal to traders, and its variety of stocks remains unmatched in the market.
Pros
- There's a large selection of free or paid research subscriptions available to all traders. If you subscribe to Toggle AI, you will also receive commission refunds from IBKR.
- IBKR, primarily designed for skilled traders, has expanded its appeal recently by eliminating its initial $10,000 deposit requirement.
- The new IBKR Desktop platform combines the advantages of TWS and adds unique tools like Option Lattice and Screeners with MultiSort to make trading accessible and impressive for traders of all levels.
Cons
- Only one active session per account is allowed, which means you can't run the desktop version and mobile app at the same time. This can sometimes lead to a frustrating trading experience.
- TWS's platform may be difficult for beginners to grasp because of its complexity - we were overwhelmed during our initial tests by the sheer volume of tools, features and widgets.
- IBKR offers many research tools. However, the tools are not uniformly distributed across trading platforms and the web-based 'Account Management' page, causing confusion for the users.
Why Trade With FOREX.com?
FOREX.com is a top-tier brokerage suitable for forex traders of all skill levels. It offers more than 80 currency pairs, has small spreads starting from 0.0 pips, and features low fees. The platform provides powerful charting tools that include over 100 technical indicators and multiple research aids.
Pros
- FOREX.com provides top-tier forex pricing beginning at 0.0 pips. They also offer competitive cashback rebates up to 15% for dedicated traders.
- Numerous educational materials such as tutorials, webinars, and a comprehensive YouTube channel are available to assist you in learning about the financial markets.
- The Web Trader remains one of the top platforms for budding traders, boasting a sleek design and more than 80 technical indicators for market analysis.
Cons
- FOREX.com has expanded their trading offerings, but these remain limited to forex and CFDs. Unfortunately, they don't provide options to invest in actual stocks, ETFs, or cryptocurrencies.
- US clients do not have negative balance protection, so you can potentially owe more than your original account deposit.
- The funding options are not as extensive as those of top competitors such as IC Markets and lack several widely-used e-wallets, particularly UnionPay and POLi.
Why Trade With IC Markets?
IC Markets provides excellent prices, quick execution, and smooth deposits. The utilization of sophisticated charting platforms such as TradingView and the Raw Trader Plus account makes it a preferred choice for intermediate to advanced traders.
Pros
- IC Markets provides fast and reliable 24/5 support for account and funding issues.
- IC Markets, a well-regulated and respected broker, emphasizes client security and transparency for a trustworthy global trading experience.
- IC Markets won DayTrading.com's 'Best MT4/MT5 Broker' in 2025 for its top-notch MetaTrader integration, perfected over years to enhance the platform experience.
Cons
- IC Markets have a selection of metals and cryptos for trading through CFDs, but their range is not as wide as brokers such as eToro. This may limit options for traders who are interested in these asset types.
- Despite having four top-tier third-party platforms, there is no in-house software or trading app specifically designed for new traders.
- The range and quality of educational materials, such as tutorials and webinars, require improvement. This lag falls behind competitors like CMC Markets and reduces its suitability for novice traders.
Why Trade With Pepperstone?
Pepperstone is a leading choice for trading with low spreads, quick execution, and advanced charting for experienced traders. New traders benefit from no minimum deposit, a wealth of educational resources, and 24/7 support. Operating under ASIC regulation, Pepperstone is a top option for Australian traders and won DayTrading.com's 'Best Aus Broker' award for 2025.
Pros
- Get top-notch customer support through phone, email, or live chat. Expect responses within <5 minutes based on our trials.
- Pepperstone has simplified deposits and withdrawals, adding Apple Pay and Google Pay in 2025, and PIX and SPEI for Brazilian and Mexican clients in 2024.
- Pepperstone provides impressive transaction completion speeds, averaging about 30ms. This allows for quick order processing and execution, making it suitable for traders.
Cons
- Pepperstone does not support cTrader Copy, a popular feature in the cTrader platform available at alternatives like IC Markets, though it has launched an intuitive copy trading app.
- Despite expanding its market range, crypto options are limited compared to other brokers in this area, and there is no option to invest in actual coins.
- Pepperstone's demo accounts last for 30 days. This might be insufficient for learning the various platforms and testing trading strategies.
Why Trade With LiteForex Europe?
LiteForex is a suitable choice for active traders due to its variable spreads starting from 0.0 pips, daily analysis and comprehensive training guides. Traders can also replicate the strategies of skilled traders through its forex copy system.
Pros
- Claws&Horns provides an extensive analytics portal. It includes video reviews, expert insights, and short-term trading signals for traders.
- LiteForex provides its own mobile apps that are great for traders who need to examine the markets while mobile.
- LiteForex's low $50 minimum deposit is suitable for beginner traders.
Cons
- Muslim traders cannot use a swap-free trading account.
- The options for trading markets are more limited, as share CFDs are not available.
- Trading in cryptocurrency is not available.
Filters
Methodology
We analyzed a wide range of brokers offering direct market access (DMA), considered over 200 data points, and assigned each broker an overall score.
Based on these ratings, we compiled a ranking of the top DMA forex and CFD brokers.
What To Look For in a Broker With DMA
Drawing on our years of testing DMA brokers and the best trading accounts on offer, these are the most important things to look out for when selecting a service provider:
Liquidity
A key feature of DMA trading is the deeper liquidity that it can provide.
Not only can this make for easy and swift trading, but a higher number of buyers and sellers also typically means better prices thanks to narrower bid and ask spreads.
Choose a broker that offers deep pools of liquidity and multiple markets. Saxo, for instance, utilizes over 25 top-tier liquidity pools to ensure optimal pricing.
Execution Speed
The ability to execute trades quickly is critical, especially for high-frequency short-term traders.
Search for fast brokers offering stable platforms that minimize the time delay (latency) between when an order is placed and when it’s executed in the marketplace.
Pepperstone, which introduced DMA trading, is seriously fast, with execution speeds averaging just 30ms.
Risk Management Tools
Effective risk management is an essential part of modern trading, particularly in fast-moving and volatile markets.
A failure to diligently handle this can cause you to miss out on potential profits or leave you nursing large losses.
Ensure that the broker you choose provides devices that allow you to manage risk. These can include take profit and stop loss instructions, tools which will automatically close my trade when an asset price rises or falls to a specified level, whichever happens first.
IG impressed during testing with its robust risk management tools, notably guaranteed stop loss orders.
Cost
The price of a DMA service can vary substantially from broker to broker based on our evaluations. This can be because of different bid and ask spreads, broker commissions and other fees.
The cost of DMA trading software, combined with the expense of obtaining Level 2 data, could cost you hundreds of dollars each year. So you need to consider how frequently you plan to trade, and whether paying for direct access is cost effective.
For example, IC Markets has long stood out for its excellent pricing in our tests, starting from 0.0 pips.
Leverage
The use of leverage (or lent funds from the broker) can be commonplace across active trading strategies.
Those planning to adopt this high-risk, high-reward practice should consider the amount of leverage on offer – this can differ considerably amongst brokers – as well as other margin requirements.
The amount of leverage on offer will depend on where you’re based and the market/s in which you’re trading. The use of borrowed funds is restricted or banned altogether in some regions to reduce trader risk.
FxPro offers high leverage reaching 1:1000 for some global clients, increasing returns but also the size of losses.
Platforms and Tools
Ensure that the broker offers a range of devices that aid swift and effective decision-making.
These can include advanced technical analysis tools, customizable order types, or sophisticated trading platforms like TradingView, which I love for its comprehensive features and ultra-sleek design.
Your broker may also provide additional resources like trading guides and demo accounts to help you get up to speed with the market.
For instance, XTB offers an easy access demo mode which is a great starting point for newer traders.
Regulation
Last – and certainly not least – make sure that the broker you choose is licenced to trade by a reputable financial authority.
Top-tier examples include the Financial Conduct Authority (FCA) in the UK, the Swiss Financial Market Supervisory Authority (FINMA), and the Japanese Financial Services Agency (JFSA).
Using an authorized company will help protect you from bad actors, and ensure that you enjoy a minimum standard of service when trading.
IG has long stood out as our most trusted DMA broker, with licenses from seven first-rate regulators. IG is also used personally by some of our team.
What is a DMA Broker?
A DMA broker allows you to deal directly in the market, in other words, to place buy and sell orders directly into say a stock exchange’s order book.
This real-time order execution can give traders an edge, particularly in fast-paced markets.
Pros and Cons of Using a DMA Broker
Pros
- More efficient trading. Direct access to the market gives you the opportunity to execute trades more quickly and simply. This is especially important for short-term traders and for fast-paced markets like forex.
- Superior pricing. You may be able to make greater profits thanks to tighter bid and ask spreads, though returns are never guaranteed and you need to watch out for hidden brokerage costs.
- Enhanced transparency. Full visibility of order books means traders can avoid hidden markups and costs. Furthermore, being able to see everyone else’s buy and sell instructions gives you a better idea of supply and demand, and therefore a clearer understanding of where to pitch your price.
- Price adjustment. DMA allows you to ‘test’ the price you wish to trade at, and to alter your buying and selling prices according to other bid and ask values in the order book.
Cons
- Added expense. The perks of direct access to the market can make it significantly more expensive than using the services of a traditional broker.
- Trading blackouts. Individuals may miss trading opportunities or book serious losses if their internet connection or trading platform breaks down. This is because not all DMA brokers accept telephone orders.
- Large minimum deposits. DMA brokers can require significant initial deposits that run into tens of thousands of dollars.