Overall Rating:★ ★ ★ ★ ★ (4.7 / 5)
Introduction★ ★ ★ ★ ★ (5/5)
Licensing and Regulation★ ★ ★ ★ ★ (5/5)
Mobile Trading★ ★ ★ ★ (4/5)
Brand & Functionality★ ★ ★ ★ ★ (5/5)
Registration Process★ ★ ★ ★ ★ (5/5)
Depositing Process★ ★ ★ ★ ★ (5/5)
Product Offering★ ★ ★ ★ ★ (5/5)
Trade Execution★ ★ ★ ★ (4/5)
Banking★ ★ ★ ★ (4/5)
Customer Support★ ★ ★ ★ ★ (5/5)
Trading Tools★ ★ ★ ★ ★ (5/5)

Broker Information

User Rating
4.5 (90%) 2 vote[s]
Account Types
Account Currency
Customer Support
Min Funding


    ★ ★ ★ ★ ★

    DMA, or Direct Market Access, is an online financial trading company that is situated in South Africa. The company forms part of the prestigious Saxo Group that spans the globe with a unified and strong network that is achieved through both organisations and local sales in over 180 different countries. The Saxo Group is considered a multi-asset investment and trading organisation with more than 25 years of industry experience on Fintech innovation. The company has several offices located around the world, including South Africa, Tokyo, Hong Kong, Sydney, Shanghai, Singapore, Dubai, Zurich, Paris, and London.

    The DMA branch, situated in South Africa, will allow traders to trade on equities, bonds, contract options, CFD’s, equity options, futures, forex, forex options, ETFS, and ETCS. The South African office caters specifically to citizens of South Africa and comes with two account types, including TraderGo and TraderPro, which is provided by the Saxo Group. The Saxo Group was initially established in 1992, and their facilities presented on the DMA site are developed for investments and trading for both institutional and private clients. The Saxo Bank, which is essentially a partner of DMA, manages over $15 million in AUM, more than 1 million transactions daily, and is regarded as a professional partner to more than 300 different banks, financial providers, and brokers.

    Licensing and Regulation

    ★ ★ ★ ★ ★

    The Saxo Bank is incorporated in the country of Denmark and is licensed by the European Bank under the regulation and supervision of the Danish Financial Supervisory Authority. As an investment firm and EU-regulated bank, Saxo Bank falls under the jurisdiction and boasts with all the necessary policies, protocols, and legal requirements to ensure full compliance. Saxo Bank, along with the registration, is entitled to operate under several institutions around the world. This includes FCA authorization in the United Kingdom, Singapore’s Monetary Authority, the Hong Kong Securities and Futures Commission, UAE Central Bank, Japanese FSA, and others. The DMA company is licensed and regulated by Financial Sector Conduct Authority in South Africa.

    Mobile Trading

    ★ ★ ★ ★

    DMA essentially utilises all products and trading tools from Saxo Bank that are available on a wide range of platforms. These include desktop PC’s for Mac and Windows, as well as tablet and mobile devices. DMA offers a truly exceptional mobile trading platform that offers two trading platforms. The DMA mobile app can be downloaded from the Apple App Store for iOS users and from the Google Play Store for Android users. The overall presentation of the mobile apps are simplistic, modern, and easy to navigate while incorporating all the necessary trading tools and products to trade while on the move.

    Brand & Functionality

    ★ ★ ★ ★ ★

    Saxo Bank, Sasfin and the SCMSA management announced in 2018 that Sasfin and the SCMSA management team agreed to obtain SCMSA from the Saxo Group. Due to the pending change surrounding shareholding, SCMSA decided to change the company name to SCM DMA Limited and currently trades under DMA. DMA, or more commonly known as Direct Market Access, is a phenomenal online trading brand within the financial trading market. It provides one of the most comprehensive selections of trading products and tools in the South African market. The DMA brand is renowned for its exceptional customer service, wide range of instruments, and their incredible user-interface that is ideal for both beginners and experienced traders. Saxo Bank has received several awards over the years for their products and services which is a clear indication of how DMA operates with Saxo Bank as its official partner.

    Registration Process

    ★ ★ ★ ★ ★

    Registering a new account at DMA is extremely fast and simplistic. Traders simply need to visit the DMA website and choose between two accounts, including a live account and a demo account. The demo account will only require your name, cellphone number, email address, and a password that can be created by you. You will also need to provide your intended investment amount and select trading products that you are interested in, including unit trusts, bonds, futures, options, forex, CFD’s, and shares.

    If interested in opening a live account at DMA, you will firstly need to choose between 4 account types. Those available include Corporate Account, Trust Account, Joint Account, or Individual Client Account. The Individual Client Account will require your full name, your email address, your mobile number, and your South African ID number. If you are not a South African citizen, you can tick the box and state that you are not. Once you provided your ID number, you will be asked to provide your tax number on the next step. You will then need to enter your country of birth followed by your passport number and date of birth. Thereafter, you will need to enter your residential address information and the kind of investment you are interested in, including Onshore, Offshore, or both.

    You will then need to choose your bank, enter your bank account number, and acknowledge the company’s terms and conditions. This is followed by your trading experience and a handful of questions regarding your financial trading experience. The last step of the registration process is uploading a copy of your Passport. Once this is completed, you can go ahead and make a deposit.

    Depositing Process

    ★ ★ ★ ★ ★

    Unlike other online forex brokerage firms, DMA does not provide a wide range of depositing methods. During the registration process, you will need to choose between several popular banks in South Africa, including FNB, Nedbank, Capitec, Standard Bank, and Absa among others. However, it does not come with credit/debit card options, e-wallet options, or any other deposit methods that are recognised on a global scale. Therefore, you will need to be registered with one of the above-mentioned banks to perform an electronic fund transfer to your DMA account. If this is not an option, please contact the support desk for alternative methods.

    Product Offering

    ★ ★ ★ ★ ★

    The product offering at DMA, in partnership with Saxo Bank, includes a vast selection of trading markets. Traders will be able to choose from more than 9,000 CFD’s, commodities, stocks, and indices as well as bonds and stocks at margin collateral when it comes to CFD trading. The company also offers over 40 different binary and vanilla FX options that mature from the first day to a year, while spreads start at five pips. The leverage is 1:100.

    The company also comes equipped with over 19,000 stocks, 36 different exchanges via more than ten order types, and over 3,000 ETFs. Traders can trade on four account types, all featuring the same company support and technical capabilities.

    Trade Execution

    ★ ★ ★ ★

    When it comes to dealing with clients, and their funds, DMA has a general duty to act professionally, fairly, honestly, and in the best interest of its clients. When it comes to order execution, DMA is mandated to take all necessary and possible steps to obtain the best possible price when executing orders for clients, when an order is placed or when the company transmits orders to other entities for the order to be executed. The order execution speed is among the fastest in the industry with all client orders occurring under a second.


    ★ ★ ★ ★

    The banking section at DMA is regarded as one of the safest and most trusted as it only uses South African tier-1 banks to fulfil all the transaction requirements. Traders can easily fund their accounts directly from their preferred bank and receive their profits in the same manner. All deposits are instantly reflected within your account and withdrawals can take up to 3 working days before the funds will reflect in your bank account. The company utilises the most advanced and latest encryption technology to ensure all your information is safe and secure from potential hackers.

    Customer Support

    ★ ★ ★ ★ ★

    The customer support desk at DMA is above average, to say the least. Traders that have a problem or a simple query will need to email the support desk directly on the site or give them a call. Unfortunately, the site does not come equipped with a live chat facility. In addition, the support desk is only available from Monday to Friday during business hours.

    Trading Tools

    ★ ★ ★ ★ ★

    DMA utilises the trading platforms provided by Saxo Bank that feature powerful trading capabilities and a user-friendly interface. The two account types include a SaxoTraderPro account and a SaxoTraderGo account. The SaxoTraderGo account is the first choice for most online investors and traders due to its productivity and diversity. It’s reliable, fast and available across several platforms. It’s essentially a web-based platform supporting all asset classes and products. Traders will be able to look forward to news feeds, economic releases, live charting, market data, and risk management tools.

    The SaxoTraderPro account is essentially the downloadable platform on the site and is specifically designed for advanced traders in mind. It provides an intuitive, multi-screen trading platform for Mac and Windows users that can also be accessed on tablet and mobile devices. The platform comes equipped with configurable workflows and workstations, tailor-made trade settings, and advanced functions. Those functions includes the likes of a depth trader, enhanced trade ticket, sales and times, charting packages, and algorithmic orders just to mention a few.