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The DMA account is ideal for serious traders looking for maximum transparency and control. Full market depth exposes traders to multiple levels of liquidity that allows them greater insights into the market and control to trade on the best bids and offers sourced directly from FOREX.com’s liquidity providers.
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No, the DMA account cannot qualify for the Active Trader program. However, as a DMA client you will have access to many of the same benefits like the opportunity to earn interest on balances, waived wire fees and a dedicated Relationship Manager assigned to your account.
In addition, DMA offers you the opportunity to benefit from reduced commissions based on volume traded. Volume discounts are calculated based on a three-month rolling average, allowing you to benefit from deep discounts month over month.
An example of how we would determine your commissions would be:
- If you trade $350M volume in Month 1, your commission for trades in Month 2 will be $35 per million.
- If you trade $550M volume in Month 2, your commission for trades in Month 3 will still be $35 per million traded, since it is based on your 3-month rolling average of volume traded.
- If you trade $600M volume in Month 3, your commission for trades in Month 4 will be $30 per million traded (based on 3-month rolling average of volume traded).
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There are no minimum account or trade requirements for a DMA account. The minimum trade size is 100K.
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You may request a funds transfer across your accounts in MyAccount. Keep in mind that transfers from a standard FOREX.com account to a DMA account can take up to 48 hours.
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Day orders placed in the majority of currency pairs will expire at 5 pm EST in your DMA account however, Day orders placed in currency pairs containing the New Zealand Dollar (NZD) will expire at 3 pm EST. Examples of currency pairs with 3 pm EST daily order expiry include NZD/USD, NZD/JPY, NZD/CAD, NZD/CHF, GBP, NZD, EUR/NZD, and AUD/NZD.
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You may access your DMA account from the full suite of FOREX.com trading platforms that includes web trading, advanced and mobile. However, you should be aware of key differences within each one of the trading platforms.
Web Trading Platform
Simply log in and click a buy or sell button to open the DMA trade ticket with full depth of market.
Advanced Trading Platform
The Advanced Trading also gives you full trading capabilities for trading and managing your account. You can access “DMA Trading” from the main navigation on the trading platform.
Orders placed from the DMA Trading window will be immediately passed to the interbank market, in FOREX.com’s name, where they will be added to the liquidity in the pool. Your limits and stops effectively become bids/offers for other participants in the liquidity pool to interact with.
Mobile Apps
Trading on mobile apps will be limited to top of book pricing.
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No, FOREX.com prices are not be available in a DMA account.
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Top of book represents the best available bid and offer at that time and typically available up to. Top of book pricing is typically available up to 1M. Actual execution prices may vary to pricing displayed on the platform.
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DMA is a commission-only model, you’ll pay no FOREX.com spread. Your cost to us is the commission paid.
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DMA Trade Ticket
Limit orders placed via the DMA trade ticket (displays DOM) will be immediately passed to the execution venue on FOREX.com’s behalf where they effectively become bids/offers for other participants in the liquidity pool to interact with and executed with no additional mark up. Upon execution of the trade, FOREX.com will update the trade in your account at the same execution price. FOREX.com acts as principal and counterparty to ever trade.
FOREX.com may cancel an order if the available margin falls below the required margin. Stop Loss orders placed via the DMA trade ticket are contingent upon a price trigger before they can be considered for execution.
Standard Trade Ticket
Non-market orders placed via the standard trade ticket (no DOM) on the Advanced Trading Platform, as well as the mobile platforms will be rejected.
FOREX.com may cancel a limit order if:
- the available margin falls below the required margin for the limit order
- the order violates NFA FIFO rules
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You are responsible for monitoring your account and maintaining 100% of required margin at all times to support your open positions.
If at any point, the equity available drops below 100% of the margin required you will be subject to auto liquidation of the position incurring the largest loss. The liquidation process is as follows: the net aggregated open position with the greatest unrealized loss is closed first, followed by the next largest losing position and so on, until the maintenance margin requirement is satisfied or exceeded. Depending on the size and unrealized P&L of the open positions, all open positions may be liquidated in order to meet the margin requirement.
In the event of a liquidation, the trade is executed in the market directly with the liquidity provider and then passed down to the client.
When your account falls below 120% margin, a margin alert will automatically be sent to you via email. This notification is for your convenience and should not be relied on to protect your account.
While our 100% margin requirement and real-time margin system are designed to limit your trading losses and help ensure that total losses never exceed your total account balance, you do risk incurring losses greater than your account balance, especially during periods of extreme market volatility. For this reason, we strongly encourage you to manage your use of leverage carefully. Increasing leverage increases risk.
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There are many similarities between the two models in terms of pricing. Both provide clients with access to the interbank market which creates tight pricing with depth of book transparency. In a typical anonymous ECN model, the individual client must have secured their own credit line from a traditional Prime Broker or Prime of Prime provider in order to participate in the ECN. With FOREX.com’s DMA model, we leverage our existing Prime Brokerage relationships to provide customers with access to trade on prices sourced directly from our liquidity providers.
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No, the minimum trade size for a DMA account is 100K with increments of 100K.
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Yes, you can place your own limit orders as bids/offers on the platform. Keep in mind that these orders are sent to the market in FOREX.com’s name.
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Yes. It’s important that you keep in mind, as this is interbank liquidity, you should be aware that a large ‘click and deal’ market order (10M+ for example) would sweep through the first few levels of market depth and will likely cause the spread to widen as the deal is executed. Liquidity providers typically stream bids/offers in 1M increments so a 10M could sweep as many as 10 liquidity provers bids/offers down the stack.
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Our ability to fill your trade is contingent on the order being executed with our liquidity provider(s). When you trade on our DMA service, your limit orders are passed directly to our liquidity providers with FOREX.com acting as counterparty to your trade. A lack of available liquidity from FOREX.com’s liquidity providers may result in your order not being filled at any price.
We will display currently available pricing for the contracts offered under the DMA Service. The actual execution price achieved in the market with our liquidity provider is passed on to you at the same price with FOREX.com acting as counterparty to your trade. There may be instances when the execution price may differ from the pricing displayed which can result in price improvement or slippage.
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The prices are sourced from a wide number of top tier LPs and banks, however the LP names are not listed. All DMA trades are centrally cleared. All liquidity providers are anonymous on the platform.
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