Forex Brokers with Direct Market Access
Compare Forex brokers with Direct Market Access (DMA) in Tanzania. Trade directly with Tier 1 liquidity providers in the Forex interbank market.
HFM (HFM.com), formerly known as Hot Forex, is an award-winning Forex and CFD broker, with accounts tailored to new and experienced traders. Trade a wide range of markets including Forex, stocks, indices and commodities through MetaTrader 4 or 5.
- Markets: Forex (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)* Availability subject to regulation.
- Platforms: MT4, MT5, Currenex, Copy trading, Mirror trading
- Regulators: Cyprus (EU) , Kenya, Saint Vincent and the Grenadines, Seychelles, South Africa, UAE
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Our reviews are unbiased and reflect our own experience of trading through these brokers.
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What's an STP/DMA broker?
An STP broker with Direct Market Access (DMA) aggregates prices from liquidity providers in the Forex interbank market and forward your trades directly onto these liquidity providers.
Three things to look for in a DMA broker:
- Always variable spreads
- Always market execution
- Always 5 digit pricing (fractional pricing)
- Optionally: depth of market access
Benefits of Direct Market Access
Your broker aggregates prices from competing liquidity providers and shows only the best bid and the best offer. The more liquidity providers your broker works with, the greater the competition and the tighter the spreads.
In addition, fractional pricing also helps reduce spreads because it prevents brokers from rounding them up. Compare brokers with 5 decimal pricing.
Your orders go directly to liquidity providers for execution at the prevailing market price. There are no dealing desk (NDD) and no re-quotes even during news events or data releases. This supports a broad range of trading strategies, including scalping, news trading and swing trading.
No conflict of interest
Brokers with a dealing desk (DD) make a market for your trades. They sit on the other side of your trades and, for this reason, profit when you make a loss. This can give rise to conflicts of interest if your broker has an interest in seeing your lose money.
In contrast, DMA brokers face none of these issues. They act as intermediaries rather than market markers and earn money from a mark-up they apply to the spreads rather than your losses. This aligns their interests with yours.
ECN XL Account
Trade CFDs on 70+ currency pairs, crypto-currencies, commodities and indices with leverage up to 1:... MoreTrade CFDs on 70+ currency pairs, crypto-currencies, commodities and indices with leverage up to 1:500. Get a 100% bonus on your first deposit, up to $2,000.
MT5 Floating - Market Execution
Trade 70+ currency pairs, indices, energies and metals on floating spreads with market execution. ... MoreTrade 70+ currency pairs, indices, energies and metals on floating spreads with market execution. All EAs are allowed.
Razor Account [cTrader, TradingView]
Trade Forex on raw spreads, sourced directly from Pepperstone's liquidity providers, plus a ... MoreTrade Forex on raw spreads, sourced directly from Pepperstone's liquidity providers, plus a commission. Trade CFDs on crypto, stocks, indices, ETFs, commodities, energy and metals on low spreads. Pepperstone allows all trading strategies on cTrader. This account is popular with scalpers.
- $200 deposit
- 1:30 leverage
- 0.17 pips EUR/USD
- Regulators: Australia, Bahamas, Cyprus (EU) , Germany, Kenya, UAE , UK