Losses can exceed deposits

Forex Direct

Forex Direct is our DMA service, designed exclusively for forex traders. With direct access to the underlying market, you no longer pay an IG spread. Instead, we charge you a low commission and you trade on buy and sell prices sourced from a range of global banks and liquidity providers, giving you increased visibility into the underlying market and tight, institutional-tier spreads.

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What are the benefits of DMA?

Find out how direct market access gives experienced traders increased flexibility, visibility and pricing options. 

A ticket to trade directly onto the IG order book | IG Forex Direct
  • Deal on tight spreads sourced from a range of banks and liquidity providers
  • Pay low and variable commission, instead of an IG spread
  • View extended data on currency pairs
  • Trade directly onto the IG order book
  • Act as a market maker, with increased visibility in the underlying market

Low commission

With Forex Direct, we charge a variable commission instead of a spread, based on the volume you traded in the preceding month.

Size (millions of USD) Commission
1500+ 10
<1500 20
<500 30
<100 60

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

See an example of our Forex Direct commission

Tight market spreads

Trading on buy and sell prices quoted directly from a range of venues gives you a tighter spread than trading an over-the-counter product. 

  Average FX Direct spread1
Spot FX AUD/USD 0.466
Spot FX EUR/JPY 0.765
Spot FX EUR/USD 0.307
Spot FX GBP/USD 0.758
Spot FX USD/JPY 0.275

How DMA with IG works

Our technology is engineered to find the best available prices for both OTC (over-the-counter) products and DMA. DMA prices aren’t necessarily better than OTC, but direct access to the markets can give you greater visibility as a trader.

With the added complexities to the trading environment offered by DMA, there can be an increased risk. We take a parallel position in the underlying market, so once your order has been executed, we can’t change or reverse it. 

While you’re trading based on the underlying market, what you actually receive on placing a DMA 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 
  • You place an order, and we conduct a margin check to ensure you have sufficient funds on account
  • If the margin check is satisfied, we place an order in our name in the market, and create a parallel CFD between you and us if your order is executed.

While you’re trading at market prices, you don’t gain any ownership rights over the currencies which form the subject of your CFD.

Which platforms offer DMA?

  • Get DMA on our web-based platform and range of apps
  • Use L2 Dealer*, our powerful DMA platform 
  • Connect your front-end to IG’s price sourcing and execution through our APIs

How do I get DMA?

  • Open an IG account – we can usually have you set up in minutes
  • Activate DMA (also called ‘Level 2’ or ‘L2’ dealing) in our web-based platform*
  • Choose the data feeds you’d like activated
  • Choose the platform you’d like to use 

*You will usually need £1000 in your account to access L2 Dealer with IG.

1Time-weighted (22:00-20:00 GMT) average spread by trade (quoted to three decimal places), September 2015.