10 Top DMA Brokers (Direct Market Access): FX, CFD, Stocks 2026
DMA provides enhanced control, faster execution, and more transparent pricing. Ideal for active traders in markets like forex, CFDs, and stocks.
Written by
James Wilson
Fact Checked by
Edith Balazs
Top 10 Direct Market Access (DMA) Brokers 2026
A DMA (Direct Market Access) broker enables traders to place buy or sell orders directly onto an exchange’s order book without broker intervention. This gives investors direct access to the order books of financial markets, providing greater transparency in highly liquid markets.
What is DMA?
Direct Market Access (DMA) allows you to place orders directly on the order books of exchanges or liquidity providers, bypassing the broker's dealing desk.
DMA Offerings
Which markets can you trade via DMA and at what cost?
| Broker | ||
|---|---|---|
| BlackBull | Forex, CFDs, Stocks | $2/lot |
| RoboForex | Stocks, CFDs | $12/lot (avg) |
| FP Markets | Forex, CFDs, Stocks | $3/lot |
| Freedom24 | Stocks, ETFs | $0.008/share |
| Vantage | Forex, CFDs | $1.50/lot |
| IG | Forex, CFDs, Stocks | Variable |
| Interactive Brokers | All Assets | Low |
| TradeStation | Equities, Futures | $0.60/contract |
| Pepperstone | Forex, CFDs | $3.50/lot |
| Moneta Markets | CFDs, Stocks | $3/lot |
Detailed Broker Analysis
Global DMA choice.
BlackBull Markets connects traders directly to institutional liquidity providers. Their ECN environment ensures transparency and fast execution for DMA traders.
Deep liquidity in stocks.
FP Markets is ideal for equity DMA trading via the IRESS platform. You can see full market depth and place orders directly into the exchange order books.
Stock & ETF DMA
Freedom24 offers direct access to major stock exchanges like NYSE, NASDAQ, and LSE. Their platform is robust for investing in IPOs and thousands of stocks.
Forex & CFD DMA
Vantage offers deep liquidity for Forex and CFDs. Their Raw ECN account acts as a bridge to top-tier liquidity providers, ensuring minimal latency.
L2 Dealer Access
IG provides direct market access (DMA) via their L2 Dealer platform, allowing you to see market depth and trade inside the spread on shares and forex.
Global Market Access
Interactive Brokers is the king of DMA, offering access to 150+ markets worldwide. Their TWS platform is designed for professional traders needing direct exchange execution.
Futures & Equities
TradeStation offers powerful analysis tools and direct access to US equity and futures exchanges. Ideal for systematic and algorithmic traders.
StocksTrader DMA
RoboForex's R StocksTrader platform offers DMA on thousands of stocks and CFDs, combining easy-to-use interface with institutional pricing.
cTrader DMA
Pepperstone's cTrader platform offers DMA-style pricing and execution. You can see market depth and execute large orders with minimal impact.
ECN Liquidity
Moneta Markets connects you to top-tier liquidity networks. Their ECN feed allows for precise execution on FX and commodities without dealer intervention.
Frequently Asked Questions
Top 10 Top DMA Brokers (Direct Market Access): FX, CFD, Stocks
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January 2026