With DMA (Direct Market Execution) execution forex traders are able to place orders directly with liquidity providers such as banks, other brokers, etc.
DMA brokers are the ones who can be called NDD (no-dealing desk) forex brokers.
ECN brokers are the ones who always provide Direct Market Access. But with an STP broker it does not mean you get DMA.
With DMA you get variable spreads and market execution when you get the best quote from one of the liquidity provider through the connection provided by your broker.
Best Canadian Forex Broker List
easyMarkets
4.5
Demo account Yes
Minimum deposit $100
Minimum Deposit: $100
Between 74-89% of retail investor accounts lose money when trading CFDs with this broker.
Blackbull Markets
4.5
Demo account Yes
Minimum deposit $250
Minimum deposit: $250
Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
Eightcap
4.6
Demo account Yes
Minimum deposit $150
Minimum deposit: $150
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts
lose money when trading CFDs with this provider
ForTrade
4.2
Demo account Yes
Minimum deposit $200
Minimum Deposit: $200
67% of retail investor accounts lose money when trading CFDs with this provider.
Avatrade
4.5
Demo account Yes
Minimum deposit $100
Minimum Deposit: $100
Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
LegacyFX
4.5
Demo account Yes
Minimum deposit $ 250
Minimum Deposit: $ 250
Between 74-89% of retail investor accounts lose money when trading CFDs with this broker.
FXCC
4.5
Demo account Yes
Minimum deposit $100
Minimum Deposit: $100
Between 74-89% of retail investor accounts lose money when trading CFDs with this broker.
FPmarkets
4.5
Demo account Yes
Minimum deposit $ 100
Minimum Deposit: $100
Between 74-89% of retail investor accounts lose money when trading CFDs with this broker.
FX Choice
5
Demo account Yes
Minimum deposit $ 100
Minimum deposit: $ 100
73.9% of retail investor accounts lose money when trading CFDs with this provider.
With DMA broker you always get STP (Straight Through Processing) that’s why they are referred to as DMA/STP brokers.