DMA definition

When trading, DMA stands for direct market access. It’s a way of placing trades that offers more flexibility and transparency than traditional dealing (which is usually referred to as OTC, or over-the-counter). It’s suitable for advanced traders.

With DMA, investors place trades directly on the order books of equity exchanges. DMA traders can see the orders directly on the books of the exchange that they are dealing with, and are charged on a commission basis instead of via the spread.

DMA can be a good way for advanced traders to get a more comprehensive view of the market, and see the best possible prices available. However there are also risks and complexities involved. It is often referred to as Level 2 (L2) trading.

With IG

We offer DMA on both shares and forex, allowing you to trade CFDs on underlying market prices and depth. Find out more about IG’s advanced trading features.

At IG, this means that you can see the best bid and offer price currently available for a particular underlying assets trading on a regulated market, MTF or OTF, plus further prices on either side of the order book, and select a price. A trade will be placed directly in the market in IG’s name at that price and size. At the same time and in parallel, we will enter into a CFD transaction with you at the equivalent value (size and price).

By contrast, when you deal with IG on a traditional (OTC) basis, you will only see one price to select and there is no automatically placed trade in the market in IG’s name. However, in both cases, you will have an OTC CFD with IG which can only be closed with IG, as usual.

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All trading involves risk and losses can exceed deposits. Trading CFDs may not be suitable for everyone so please ensure that you fully understand the risks involved. All trading involves risk and losses can exceed deposits.