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Forex DMA account

Discussion in 'Forex and Cryptocurrencies' started by funnybunny, May 14, 2018.

  1. funnybunny

    funnybunny

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    Hey guys

    Looking to trade forex but i heard about the issues with dodgy forex brokers
    Wondering if DMA like https://www.ig.com/au/forex/forex-direct would help reduce this. I read through the website but what are the pros and cons of going through this method?

    thanks
     
  2. peter2

    peter2

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    Well, you are a funny bunny.
    This is a service for advanced fx traders who turnover hundreds to thousands of millions of USD.

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  3. peter2

    peter2

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    Seriously, have you thought about your trading plan?
    Have you back-tested it to see what sort of results you can expect when you start trading?
     
  4. Ken from Hantec Australia

    Ken from Hantec Australia

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    If you have this kind of trading volume most of the Broker will be able to offer you this kind of commission The company, I am working for, is also going to run a special promotion about for reduce the trading cost.
    The problem is whether you are able to make this kind trading volume happen.
    Normally, even with really high leverage (such like 1:500 or 1:1000) it will still hard for make the trading volume they require on the website. (Of course, if you are a hedging fund manager or currency investment fund manager it might be easier)
    Also for DMA, there must be slippage during the big economic event happaning, no matter how good their server is. (Cuz the market depth will change really quick by the time)
    And if you go have a look for some other brokers, you might find other DMA broker's offer is much better than IG (Cuz the competition is always huge in this industry) Just have look for Saxo or Interactive Broker. They might have lower leverage but the cost will be far lower than that.
     
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