As an active forex trader looking to gain maximum control and transparency into currency markets, utilizing a top-tier Direct Market Access Forex broker is essential. We will explore the 12 leading DMA brokers for 2024, highlighting key features like advanced trading platforms, competitive pricing, global market access, and robust client services.

From industry giants like to specialty brokers optimized for high-volume traders, we will break down the strengths and weaknesses of the top 12 firms. Whether you are just getting started in forex or are a seasoned price action scalper, this definitive guide will match you with an ideal DMA partner broker to meet your trading needs and boost profit potential in the $6.6 trillion daily forex market.

How Did We Choose the Best Direct Market Access Forex Brokers?

Direct Market Access Forex Brokers

In selecting the best 12 DMA forex brokers for 2024, our independent research weighed key factors like spreads, commissions, market access, platforms, and regulation. We compared 26+ Major DMA Forex Brokers to identify those offering advanced order execution, institutional grade liquidity, and robust trading infrastructure for active traders.

Our rankings emphasize brokers where client interests are prioritized over dealing desk profits. From industry leaders like Saxo Bank to niche specialists, these 12 firms demonstrate excellence providing traders with direct forex market access, transparency, and competitive pricing. Whether you trade high volumes algorithmically or make occasional manual trades, our top 12 brokers have an account option to match your needs.

List of 12 Forex Direct Market Access (DMA) Brokers 2024

BrokerKey Feature
FOREX.comTight spreads, advanced trading platforms, competitive pricing
IG GroupInstitutional grade liquidity, robust trading infrastructure
Saxo BankSpecialized platforms for professional investors
Charles SchwabDiscounted commissions on stock trades
Interactive BrokersBest pricing model, wide range of tradable assets
TD AmeritradeUser-friendly platforms, great for beginners
E*TRADEQuality research tools and market analysis
FxProUltra-fast execution speeds
CMC MarketsNo minimum deposit, feature-rich web platform
City IndexGuaranteed stop-loss orders
FlowBankGenerous cash-back rewards program
Plus500User-friendly app, easy to get started

1. is an award-winning online forex and CFD broker known for its advanced trading platforms, tight spreads starting from 0 pips, and quality trade executions. Traders can access over 80 currency pairs as well as indices, commodities, stocks, and crypto CFDs.

Key features include integrated TradingView charts, auto pattern recognition from Autochartist, a full economic calendar, and the ability to trade directly from charts. also provides traders with quality market analysis, risk management tools, and a robust education center to support traders. With competitive pricing, strong regulation, and decades of reputable experience, is regarded as one of the top institutional-grade brokers for active forex and CFD traders.

Key Features

  • Advanced trading platforms and tools
  • Tight spreads from 0 pips
  • Integrated TradingView charts
  • Autochartist pattern recognition
  • Quality market analysis and education
LeverageUp to 1:50 
InstrumentsOver 80 currency pairs, Precious metals, and Cryptocurrencies
Minimum Deposit$50
Deposits and withdrawal methods acceptedWire Transfer, Credit Card
Crypto Deposit and WithdrawalBitcoin Cash, Bitcoin, Litecoin, Ripple, Ethereum

2. IG Group


IG Group, founded in 1974, is an award-winning online trading platform known for its advanced proprietary web and mobile apps, a wide range of tradable assets, and quality trade executions. Key features include integrated charts, risk management tools, fast order execution speeds, and a robust education center.

With competitive pricing, strong regulation across multiple global jurisdictions, decades of industry experience, and a focus on putting client interests first, IG Group is regarded as a top-tier broker catering to active traders globally.

Key Features

  • Award-winning trading platforms and technology
  • Tight spreads and competitive commissions
  • Quality research tools and market analysis
  • Strong regulatory oversight across multiple jurisdictions
LeverageUp to 1:30 on major currency pairs
InstrumentsForex, Cryptocurrencies, Indices, Commodities, Stocks, Options
Deposits and Withdrawals Methods AcceptedBank transfer, debit/credit cards
Minimum Deposit$250
Crypto Deposit and WithdrawalBitcoin, Ethereum

3. Saxo Bank

Saxo Bank 

Saxo Bank is an award-winning Danish investment bank founded in 1992, specializing in online trading and investment across global financial markets. It provides traders and investors professional-grade tools to execute trades across a wide range of asset classes including forex, stocks, CFDs, ETFs, bonds, and options.

Key features offered by Saxo Bank include integrated charts, risk management tools, algorithmic trading, and multi-device trading platforms like SaxoTraderGO.

With competitive pricing, strong regulation across multiple jurisdictions, decades of industry experience, and a focus on transparency and putting client interests first, Saxo Bank is regarded as a top-tier broker catering to active traders and investors globally.

Key Features

  • Algorithmic trading tools and one-click order execution
  • Integrated charts and risk management features
  • Personalized charting packages and indicators
  • Third-party platform integration and API capabilities
  • Competitive pricing and execution quality
LeverageUp to 30:1 
InstrumentsForex, Cryptocurrencies, Indices, Commodities, Stocks, Options
Deposits and Withdrawals Methods AcceptedBank transfer, debit/credit cards
Minimum Deposit$0
Crypto Deposit and WithdrawalBitcoin, Ethereum, Ripple XRP ETP,  Short Bitcoin ETP

4. Charles Schwab

Charles Schwab

Charles Schwab, founded in 1971, is an award-winning online broker known for its $0 commissions on stock, ETF, and options trades. Key features include intuitive trading platforms, extensive research and education resources, FDIC-insured high-yield checking accounts, and full-service retirement planning.

With competitive pricing, strong regulation, over 500 branches, and decades of reputable experience, Charles Schwab stands out as a top broker for self-directed investors and savers seeking great value. Whether an active trader or long-term buy-and-hold investor, Charles Schwab provides robust tools to help Americans build wealth and achieve financial independence.

Key Features

  • User-friendly web and mobile trading platforms
  • High-yield checking and savings accounts
  • Retirement planning and advisory services
  • Brick-and-mortar branches across the U.S.
  • Over 40 years of experience in financial services
LeverageTier 1 Leverage Ratio of 7.1%, down slightly from 7.2% at year-end 2022. This consolidated Tier 1 Leverage Ratio is above the long-term operating objective for CSC.
InstrumentsEquities, ETFs, Mutual Funds, Bonds, Options, Futures, Cryptocurrency-related funds
Deposits and Withdrawals Methods AcceptedBank transfers, cash deposits, Schwab Bank deposits, Schwab Value Advantage Funds, Schwab Money Market Funds, Treasury Bills, Notes or Bonds maturing in less than a year
Minimum Deposit$0
Crypto Deposit and WithdrawalBitcoin, Ethereum, BNB, 

5. Interactive Brokers

Interactive Brokers 

Founded in 1993, Interactive Brokers is an industry-leading online broker known for its advanced trading platforms, wide range of tradable assets, and competitive pricing. Traders can access stocks, options, futures, forex, bonds, and funds from a single integrated account.

Key features include sophisticated order routing, integrated charting and analysis tools, algorithmic trading, and trade automation capabilities. With its focus on technology, Interactive Brokers provides active traders and institutions with direct market access, transparent pricing, and robust trading infrastructure.

Regulated across multiple jurisdictions and boasting over 30 years of experience, Interactive Brokers delivers outstanding value to savvy investors seeking an institutional-grade brokerage solution worldwide.

Key Features

  • Advanced proprietary trading platforms and technology
  • Sophisticated order routing and trade automation tools
  • Integrated charts, screening, risk analysis, algorithms
  • Direct market access, transparent and competitive pricing
LeverageUp to 50:1 leverage 
InstrumentsStocks, Options, Futures, Currencies, Bonds, Funds, ETFs
Deposit and Withdrawal Methods AcceptedBank wire transfer, ACH, debit cards (deposits only)
Minimum Deposit$0
Crypto Deposit and Withdrawal Bitcoin, Bitcoin Cash, Ethereum and Litecoin.

6. TD Ameritrade

TD Ameritrade

Founded in 1975, TD Ameritrade is an acclaimed online broker known for its powerful yet user-friendly thinkorswim trading platform, extensive education for novice investors, and $0 commissions on online stock, options, and ETF trades.

With robust research and analysis tools, 24/7 customer support, and guidance for both self-directed trading as well as long-term planning, TD Ameritrade provides Main Street investors the resources once only accessible by institutions. Whether an active trader or long-term buy-and-hold investor, TD Ameritrade delivers outstanding value, platforms, and services to help Americans confidently build wealth in the financial markets.

Key Features

  • Powerful thinkorswim trading platforms
  • Extensive education and research resources
  • 24/7 customer support
  • Retirement planning guidance
  • Managed portfolios and robo-advisory
LeverageUp to 2:1 margin leverage on eligible securities
InstrumentsStocks, ETFs, Options, Mutual funds, Bonds, CDs, Forex
Deposit and Withdrawal Methods AcceptedACH transfers, Wire transfers, Checks, Account transfers
Minimum Deposit$0 
Crypto Deposit and WithdrawalETHE, BITW, BCHG, GDLC and LTCN.



Founded in 1982, ETRADE is an online brokerage catering to self-directed investors of all skill levels. Known for its intuitive Power ETRADE platform, quality market research, and $0 commissions on online US stocks, options, and ETF trades, ETRADE aims to make investing accessible and approachable for all.

Additional perks include checking accounts with ATM fee rebates, guided retirement planning and managed investment portfolios. With competitive pricing, robust tools and guidance for novice investors, and over 30 years of experience, ETRADE delivers an outstanding experience to help Americans confidently participate and invest in financial markets.

Key Features

  • Power ETRADE and ETRADE trading platforms
  • Quality market research and investment analysis
  • Retirement planning guidance and managed portfolios
  • Checking accounts with ATM fee rebates
  • Accessible trading for all skill levels
LeverageUp to 2:1 margin leverage
InstrumentsStocks, ETFs, Mutual funds, Bonds, Options
Deposit and Withdrawal Methods AcceptedACH transfers, Wire transfers, Checks, Mobile check deposit
Minimum Deposit$2,000 for margin trading
Crypto Deposit and WithdrawalBitcoin, Ethereum, Cardano, Tether

8. FxPro


Founded in 2006, FxPro is an award-winning online broker known for its fast execution speeds, competitive spreads, and deep liquidity across a range of tradable assets. Key features include innovative trading platforms like cTrader, quality market analysis, and a robust education center.

FxPro provides traders access to forex, shares, indices, metals, energies, and cryptocurrency CFDs from a single account. Regulated across several jurisdictions and boasting a strong focus on trust, transparency, and putting client interests first, FxPro delivers an outstanding trading experience catered to active investors seeking to diversify their portfolios globally.

Key Features

  • Competitive spreads from 1.2 pips
  • MT4/MT5 platforms with advanced features
  • Quality market analysis and client support
  • Regulated across multiple jurisdictions
LeverageUp to 1:500 
InstrumentsForex, Metals, Futures, Shares, Indices, Energies, Cryptos
Deposit and Withdrawal MethodsBank wire, Cards, PayPal, Skrill, Neteller
Minimum Deposit$100 
Crypto Deposit and WithdrawalBitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple

9. CMC Markets

CMC Markets 

Founded in 1989, CMC Markets is a leading global brokerage providing online trading across forex, shares, indices, commodities, treasuries, and cryptocurrencies. With innovative, award-winning platforms, a diverse product offering, and superior trading tools and charting, CMC Markets empowers clients worldwide to capitalize on market opportunities.

Key features include virtual money accounts, risk management tools, 1000+ educational resources, 24/5 multi-lingual support, and competitive pricing. Regulated by top-tier authorities, CMC Markets combines established trust with sustainable technology-driven growth to deliver an exceptional trading experience.

Key Features

  • Award-winning trading platforms and technology
  • Competitive spreads and transparent pricing
  • 1000+ educational resources and 24/5 support
  • Global regulation and oversight
  • 30+ years of industry experience
LeverageUp to 1:500 on forex
InstrumentsCurrencies, Stocks, ETFs, Bonds, Indices, Commodities
Deposit and Withdrawal MethodsBank wire, credit/debit cards, PayPal
Minimum Deposit0$
Crypto Deposit and WithdrawalBTCBitcoin, ETHEthereum, 

10. City Index

City Index

City Index is a leading global CFD and forex broker founded in 1983 and headquartered in London. With over 40 years of experience, it serves over one million clients worldwide across multiple regulated jurisdictions including the UK, Australia, and Singapore.

City Index offers traders access to over 12,000 markets across forex, indices, shares, commodities, and cryptocurrencies through award-winning trading platforms like MetaTrader 4.

It provides exclusive trading tools, quality market research, competitive pricing, and excellent customer service. As part of the NASDAQ-listed StoneX Group with over $20 billion in assets, City Index has the financial strength to be a secure and stable trading partner. Trusted by traders globally, City Index strives to give clients the best chance of trading success.

Key Features

  • Award-winning trading platforms like MetaTrader 4 and advanced proprietary Web Trader platform
  • Customizable workspaces, charts, and technical indicators on the Web Trader platform
  • Integrated research, news feeds, and market commentary on mobile apps
  • SMART Signals in-house trading signals generate 200+ signals per week
LeverageUp to 1:500 on forex
InstrumentsForex, Indices, Shares, Commodities, Metals, Bonds, ETFs, Interest rates, Options, Cryptocurrencies
Deposit and Withdrawal MethodsDebit/credit cards, PayPal, bank transfer
Minimum Deposit$0 
Crypto Deposit and WithdrawalBitcoin, Ethereum, Tether, Dogecoin, Ada, Xrp

11. FlowBank


FlowBank is a dynamic and innovative online trading platform based in Switzerland. Launched in 2020, it offers a seamless trading experience across a wide range of financial markets, including stocks, forex, commodities, and cryptocurrencies. With a user-friendly interface, FlowBank provides both novice and experienced traders with powerful tools and resources to navigate the financial markets.

It also offers a free demo account for practice and learning. Committed to transparency and security, FlowBank operates under the strict regulations of the Swiss Financial Market Supervisory Authority (FINMA). Whether you're a seasoned trader or just starting out, FlowBank is designed to empower you to trade with confidence and ease.

Key Features

  • Fully licensed Swiss bank under the regulation of the FINMA
  • Offers access to invest in global financial markets
  • Provides negative balance protection
  • Allows transfer of assets from another bank or brokerage
  • All customer accounts are protected according to Swiss banking regulations
  • Member of esisuisse, which protects its customer's cash up to 100,000 CHF
LeverageUp to 1:200
InstrumentsForex, Stocks, ETFs, Funds, Futures, Options, Crypto
Deposit and Withdrawal MethodsBank wire transfer, debit/credit cards
Minimum Deposit$0 
Crypto Deposit and WithdrawalBitcoin(BTC),  Ethereum (ETH)

12. Plus500


Plus500 is a global financial firm offering online trading services in contracts for difference (CFDs), share dealing, and futures trading. Established in 2008, Plus500 has grown to become a leading platform in the fintech space, providing traders with access to a wide array of financial instruments, including forex, stocks, commodities, and indices.

With a user-friendly interface, Plus500 caters to both novice and seasoned traders, offering a powerful trading experience complemented by advanced tools and real-time market insights. Operating under stringent regulatory standards, Plus500 ensures a secure trading environment, making it a trusted choice for over 25 million users worldwide.

Key Features

  • User-friendly WebTrader platform with customizable charts, indicators, and drawing tools
  • Mobile apps for Android, iOS, and Windows with full functionality of desktop platform
  • Guaranteed stop-loss orders available on certain instruments
  • Availability of demo account with virtual funds
  • Stringent security measures including SSL encryption, biometric login, and two-factor authentication
LeverageUp to 1:30 
InstrumentsForex, Stocks, Indices, Commodities, ETFs, Options, Cryptocurrencies
Deposit and Withdrawal MethodsCards, PayPal, Skrill, bank transfer
Minimum Deposit$100
Crypto Deposit and WithdrawalBitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple

How do Direct Market Access Forex Brokers Compare to ECN and STP Brokers?

DMA forex brokers provide traders direct access to the interbank market where major banks and institutions trade. This allows seeing real-time streaming quotes rather than indicative quotes from a dealing desk. DMA brokers aggregate prices from multiple liquidity providers and display the market depth directly to clients.

In contrast, ECN brokers match orders internally between clients without aggregating external liquidity. ECN networks can lack transparency on the identity and reliability of liquidity providers. STP brokers also avoid a dealing desk but route orders to another broker rather than the raw interbank market.

A key benefit of DMA over ECN and STP is guaranteed access to real interbank spreads and liquidity. The downside is usually higher commissions to compensate the broker's costs in linking to multiple price feeds. Overall, DMA provides the most direct and transparent access to the forex market.

FAQS Related to Direct Market Access Forex Brokers

What is a DMA forex broker?

A DMA (direct market access) forex broker provides traders with direct access to the interbank market liquidity and prices without any dealing desk or intermediary. This allows for faster, more transparent trade execution.

What are the advantages of using a DMA forex broker?

Some of the advantages include Direct access to interbank liquidity and prices, Faster trade execution with no or minimal requotes, More transparency in pricing and spreads, the Ability to see the market depth and place orders directly in the order books, and Lower transaction costs in terms of commissions/fees.

What should I look for when choosing a DMA forex broker?

When selecting a DMA forex broker, key factors to consider are regulation, trading platforms, instruments and markets available, commissions and fees, customer support, and financial stability. Look for brokers regulated in reputable jurisdictions.

Which are some of the best DMA forex brokers recommended for 2024?

Some of the top DMA forex brokers based on features, conditions, and reputation are IC Markets, Plus500, Saxo Bank, IG, and Interactive Brokers.

What are some downsides of using a DMA forex broker?

Potential disadvantages include higher commissions/fees, a steeper learning curve in using more advanced platforms, and lower liquidity in some exotic currency pairs or instruments.

Does a DMA forex broker guarantee better pricing or execution?

Not necessarily – pricing and spreads depend on market conditions. However, DMA brokers provide direct access to interbank prices rather than quoting their own rates.

How does DMA trading work?

In DMA trading, a trader employs an online trading platform to initiate a buy order for a specific security. This order is promptly logged into an electronic trading book, and the relevant information is transmitted to the exchange servers. When the stock exchange receives the order, it can be executed once the trader's desired purchase price aligns with a seller's offering

Are there any specific DMA brokers for US clients?

Yes, there are specific DMA brokers that accept US clients. However, the specific brokers can vary and it's important to check the broker's terms and conditions

What are the transaction costs associated with DMA trading?

Transaction costs can be slightly lower compared to other types of brokers. However, the exact costs can vary depending on the broker and the specific trading conditions.

End Note on DMA Forex Brokers

Direct Market Access (DMA) provides traders with the most transparent and direct way to access Forex market liquidity. In 2024, some of the top DMA brokers include Plus500, Saxo Bank, IG, and CMC Markets, offering advanced trading platforms, competitive pricing, global market access, and robust security.

When choosing a DMA broker, key factors to consider are minimum deposits, supported trading platforms, asset coverage, spreads and commissions, and regulatory compliance. While DMA brokers typically have higher costs, the trade-off is direct access to interbank liquidity, faster execution, and greater control.

For active traders seeking maximum flexibility and transparency, DMA brokers like CMC Markets and provide an efficient bridge to Forex markets worldwide. As technology progresses, DMA brokers will continue leading the drive for innovation in Forex trading.

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