DMA Brokers

[glyder]

A lot of traders say DMA is the only way to go as you are not then in conflcit with your broker, which of course makes sense.
But DMA broker for retail seem pretty elusive, of course none of the spreadbetters are DMA, OANDA is not DMA, neither are FXCM, FXPRO and Alpari.
Interactive brokers don't seem clear on how they execute their forex trades.

Ultimately the forex market is run by the major world banks, does DMA mean that these banks are accepting orders direct from DMA brokers?

Anyone name some decent DMA brokers please?

 

[YouAreNotFree]

I'm with Alpari. I'm happy upto now.

 

[tuscan]

Ultimately the forex market is run by the major world banks, does DMA mean that these banks are accepting orders direct from DMA brokers?

no, DMA means access to particular exchange
There are currency futures on CME, but I don't think banks have something to do with them , however the price is general for "forex market" because if there was a difference between those futures and other currency contracts, that would be a way for someone to make money

forex market means every exchange of currency, if you change euros for dollars with your friend you participate in "forex market"

 

[glyder]

I'm with Alpari. I'm happy upto now.

thanks I tried Alpari but found they requoted far too often.
I use FXPRO and have no complaints about them.

 

[YouAreNotFree]

thanks I tried Alpari but found they requoted far too often.
I use FXPRO and have no complaints about them.

I mean one of their ECN accounts.

 

[glyder]

Ahh!
Thanks, I tried the MT4 acct
I'll look into ECN.

 

[Jason Rogers]

A lot of traders say DMA is the only way to go as you are not then in conflcit with your broker, which of course makes sense.
But DMA broker for retail seem pretty elusive, of course none of the spreadbetters are DMA, OANDA is not DMA, neither are FXCM, FXPRO and Alpari.
Interactive brokers don't seem clear on how they execute their forex trades.

Ultimately the forex market is run by the major world banks, does DMA mean that these banks are accepting orders direct from DMA brokers?

Anyone name some decent DMA brokers please?

Hi glyder,

FXCM's NDD forex execution offsets every trade individually with one of 10+ liquidity providers so there is no conflict of interest between FXCM and the trader. Your profit is not our loss, and your loss is not our profit. FXCM's compensation is the pip mark-up added to the spread which essentially acts as a commission.

The below video takes you through step by step how forex orders are executed:

FXCM's No Dealing Desk Advantage for Forex Trading - YouTube

 

[glyder]

Hi glyder,

FXCM's NDD forex execution offsets every trade individually with one of 10+ liquidity providers so there is no conflict of interest between FXCM and the trader. Your profit is not our loss, and your loss is not our profit. FXCM's compensation is the pip mark-up added to the spread which essentially acts as a commission.

The below video takes you through step by step how forex orders are executed:

FXCM's No Dealing Desk Advantage for Forex Trading - YouTube

Jason,

Thank you very much for that information - I will investigate / review.
(Sorry I was under the wrong impression concerning FXCM in my post above).

 

[tuscan]

FXCM's NDD forex execution offsets every trade individually with one of 10+ liquidity providers so there is no conflict of interest between FXCM and the trader. Your profit is not our loss, and your loss is not our profit.

But still this is not DMA, this is OTC