Direct Market Access
a.k.a. DMA
A setup where your orders go straight into a market's order book, letting you see and trade on live…
In plain English
A setup where your orders go straight into a market's order book, letting you see and trade on live prices yourself.
With direct market access (DMA), your broker gives you a pipe into the exchange or liquidity pool. Your order appears in the order book as your own, rather than being handled by a dealer.
It offers transparency and control, usually in return for commissions. It is more common in stocks and futures; in forex the equivalent is often called ECN access.
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