Forex Direct

Get an edge with our forex DMA service

What is Forex Direct?

Forex Direct provides DMA execution with full market transparency, offers prices from a wide selection of global banks and liquidity providers, and lets users view extended data on currency pairs and act as a market maker.

Forex Direct is recommended only for advanced FX traders.

Forex Direct costs


Unlike OTC trading, there is no IG spread to pay. Instead we charge a variable commission – as low as USD10 per USD million worth of the currency traded. This charge is based on the volume you traded in the preceding month.

If your account is not denominated in USD, the commission will be converted into your base currency (at current exchange rates) before being deducted.

  Average FX Direct spread*
AUD/USD 0.512
EUR/JPY 0.702
EUR/USD 0.263
GBP/USD 0.992
USD/JPY 0.293

Forex Direct commission

Commission on Forex Direct positions is charged in USD. We will calculate your commission based on the total value of your trade in USD using current exchange rates.

For example, you buy 50 EUR/USD contracts when the spot rate is at 1.3332.

Total value of your trade in USD

Number of contracts x contract size x EUR/USD spot rate

50 X €100,000 X 1.3332 = $6,666,000 

Commission charged (assuming you traded USD 1000 million worth of contracts in the previous month and have a commission rate of USD 20 per million)

Variable charge x value of position in USD

(20 / 1,000,000 = 0.00002) * ($6,666,000) = $133.32


Size (millions of USD)

Commission (USD per million)

1500+ 10
<1500 20
<500 30
<100 60

Minimum commission per order: $3

Open an account now

It's free to open an account, takes less than five minutes, and there's no obligation to fund or trade.

Trading apps

How do I get Forex Direct?

  1. To trade DMA with IG you need to open an account and activate DMA within our web-based dealer. Most clients will need to have a minimum £1000 cash balance on their account to activate DMA.
  2. You can then choose to activate the data feeds you need.
  3. Then choose which platform you’d like to trade on: our web-based dealer and iPhone/iPad apps, the specialised L2 Dealer, or your own front-end technology.



DMA with IG

Our pricing technology is engineered to find the best available prices on both OTC (over-the-counter) and DMA. This means that DMA prices are not necessarily better than OTC, but direct access to the markets can give you greater visibility and flexibility as a trader.

There are many added complexities to the trading environment and there can be an increased risk. As we take a parallel position in the underlying market, DMA traders need to be aware that once an order has been executed we are unable to change or reverse the position.

It is important to note that while you are trading based on underlying market prices and depth, what you actually receive on placing a trade is a CFD from us. It works like this:

  • DMA displays the best bid and offer price available for a particular market, plus further prices on either side of the order book
  • You place an order, and we instantaneously conduct a margin check to ensure you have sufficient funds to cover the margin on your proposed trade
  • If the margin check is satisfied we place an order in the market and, at the same time, create a parallel CFD between you and us

So while you are trading at market prices, you do not gain any ownership rights over the currencies which form the subject of your CFD.

More about DMA

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  • Automated trading

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South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.

Contact us

24 hours a day from 10am Saturday to Friday night at midnight.

010 344 0053

You can also email

Latest forex news

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.