DNA Markets Review 2024

Contributor Image
Written By
Contributor Image
Written By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
Contributor Image
Edited By
Contributor Image
Edited By
James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
Updated

3 / 5
DNA Markets is #2 in our CFD broker rankings.

DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading.

- Jemma Grist, Reviewer

DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 250+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.

$100
MT4, MT5
CFDs, Forex, Indices, Commodities, Stocks, Crypto
-
USD, EUR, GBP, CAD, AUD, NZD, SGD
Credit Card, Debit Card, Wire Transfer, BPAY, Skrill, Neteller, Bitcoin Payments, Bitwallet, AstroPay, Mastercard
Forex Trading

DNA Markets continues to deliver an excellent environment for forex traders with 40+ currency pairs and low spreads from 0.0 pips on the EUR/USD during tests. The MetaTrader 4 platform, available on desktop, web and mobile, was also designed specifically for forex trading.

Stock Trading

You can trade a modest range of US and Australian stocks including Google and Apple, alongside major indices like the S&P 500, FTSE 100 and VIX. That said, the breadth of shares is narrow compared to alternatives like CMC Markets with its 10,000+ shares.

CFD Trading

DNA Markets offers a small suite of 250 CFDs covering stocks, indices, forex, commodities and cryptos, providing opportunities to speculate on rising and falling prices. There are no restrictions on strategies with leverage up to 1:30 (Australia) or 1:500 (rest of world).

Crypto Trading

You can trade a handful of cryptos 24/7. However, the narrow selection of 4 tokens trails alternatives like Vantage with its 40+ tokens, while the spread from $28 on Bitcoin is significantly higher than the cheapest crypto brokers.

Copy Trading

DNA Markets offers Signal Start, a user-friendly copy trading solution. The tool is easy to use and new traders enjoy the first 3 months subscription-free. On the negative side, it lacks the social trading features you get with more comprehensive apps like eToro.

✓ Pros

  • Short-term trading strategies are permitted including scalping and automated trading using Expert Advisors (EAs)
  • Convenient account funding with 7 base currencies, a $100 deposit and a wide range of payment methods
  • Low trading fees with spreads from 0.0 pips in the Raw account and zero non-trading fees
  • Top-rate platforms and charting tools for day traders with access to MT4 and MT5
  • 24/5 customer support with response times of <2 minutes during testing

✗ Cons

  • Although it continues to strengthen its client base and reputation DNA Markets lacks the track record of top brokers like Vantage
  • The investment offering trails alternatives, especially in terms of stocks, cryptos and commodities
  • There are limited educational and research tools, reducing its appeal to beginners
  • Despite access to MT4 and MT5, there is no proprietary trading app

In this DNA Markets review, I give my take on this relatively new forex and CFD broker. I rate DNA Markets in each key area and compare it to other brokers to find out where it falls short.

Regulation & Trust

3 / 5

DNA Markets gets an overall trust score of 3 for the following reasons:

In conclusion, DNA Markets shows promise of a trustworthy operation, though non-Australian traders should be aware they will receive limited regulatory safeguards.

Accounts & Banking

4 / 5

Live Accounts

DNA Markets offers two live accounts: Raw and Standard.

Both are accessible, requiring only $100 AUD to get started and offering trade sizes from 0.01 lots.

I’d recommend the Standard option for beginners – spreads are competitive, from 1.0 pips on popular forex pairs. There are also no commissions which keeps pricing simple for those new to trading.

The Raw account is designed for more experienced traders. Spreads are tight from 0.0 pips and low commissions start from $3 per side.

The wide range of 7 base currencies is a bonus (AUD, USD, EUR, GBP, NZD, CAD and SGD) making the broker accessible to global traders looking to manage their account in their local currency.

Finally, day traders looking to use sophisticated strategies and setups will be pleased to learn that scalping and Expert Advisors (EAs) are permitted.

Standard and Raw account details at DNA Markets
DNA Markets – comparison of accounts

Deposits & Withdrawals

I have been impressed with the flexibility of DNA Markets’ payment methods, including bank wire, credit cards, e-wallets, crypto payments, QR codes and local bank transfers.

My funds have been made available instantly in most cases. I also don’t have to pay any fees to the broker on credit card deposits, though external fees may apply depending on the provider.

Withdrawals are available via all the same methods, again with zero fees. Processing times are also reasonable, taking up to 5 business days for cards and bank wire, and instantly for all other methods.

Demo Account

DNA Markets offers a free demo account for MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

I recommend practising in the risk-free demo mode for beginners who are new to these platforms, as well as seasoned day traders who want to test strategies before using real funds.

It’s easy to sign up – I just had to follow the standard account opening process on the broker’s website before opening a demo from within my dashboard. The process took me less than 5 minutes.

Opening a DNA Markets demo account

Assets & Markets

3 / 5

The investment offering at DNA Markets is mediocre. There are around 250 assets covering forex, indices, commodities, stocks and cryptos.

As you can see below, our top-rated broker Vantage offers 4x the instruments, providing more opportunities.

Market Coverage Comparison
DNA Markets Fusion Markets Eightcap Vantage
Number of Assets 250+ 250+ 600+ 1000+

With around 40 currency pairs, active forex traders should find enough opportunities. However, the choice of 4 digital currencies won’t serve serious crypto traders.

There’s a modest range of stock CFDs available on the MT5 platform, though it’s a shame that there are no ETFs or bonds.

There are also popular global indices like the FTSE 100 and NASDAQ, plus gold, silver and oil.

The main drawback for me is that shares are limited to the US and Australian markets. I would like to see a more diverse selection covering European and Asian markets as well.

author image
Jemma Grist
Author

Leverage

Leverage at DNA Markets depends on the entity you register with. The maximum available for global clients is 1:500, whilst leverage at the Australian entity is capped at 1:30 in line with regulations.

Critically, high leverage can amplify losses as well as profits, so make sure you have a risk management strategy.

The broker has a 100% margin call and positions will be automatically stopped if your account reaches below 50% of the required margin.

Using DNA Markets margin calculator

Fees & Costs

3.9 / 5

I’ve scored DNA Markets well for its transparent and competitive fees. The broker is a good option for short-term traders looking to keep costs down.

Trading Fees

Trading fees are competitive in both accounts based on my tests:

You can see how trading fees stack up against alternatives below.

Trading Fees Comparison
DNA Markets Pepperstone IC Markets
EUR/USD Spread – Standard Account 1.1 1.1 0.9
Commission – Standard Account $0 $0 $0
EUR/USD Spread – Raw Account 0.1 0.1 0.02
Commission – Raw Account $3 per side $3.50 per side $3.50 per side

Non-Trading Fees

Non-trading fees are also low and there are no hidden costs.

You don’t need to worry about payment fees, other than those levied by third-party providers.

It’s also great to see that there are no inactivity fees – a charge I often see at popular brokers like Plus500, and which penalize casual investors.

Platforms & Tools

3.5 / 5

DNA Markets scores highly for its platform offering. With the market-leading MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, beginners and seasoned traders are catered to.

Both platforms continue to offer a host of intuitive and customizable features, as well as advanced order types and a vast marketplace for those seeking additional indicators and tools.

MT4 & MT5

Design & Usability

The interfaces are relatively straightforward to learn for beginners, though they are definitely dated in their design compared to the proprietary platform available at our top-rated broker – AvaTrade.

On a lighter note, the workspace layout is clean and easy to navigate. The charts are fully customizable, so you can move and resize to your preferences. Additionally, you can navigate quickly to all key features, including the Market Watch window and the online marketplace.

Importantly, DNA Markets offers the web, desktop and mobile versions of the platforms, making it highly accessible for traders with various system requirements.

MT4 platform interface at DNA Markets
MetaTrader 4

Charting Tools

MT4 offers plenty of charting tools that will cater to most day traders’ needs. That said, I would recommend beginners start with MT4 before jumping to the more complex offering available in MT5, which was designed for multi-asset trading and is best for experienced traders.

On MT4, you’ll find over 30 technical indicators and graphical tools, plus 9 charting timeframes. There are also 4 order types available, including market orders and pending orders.

With MT5, you get over 38 indicators and drawing tools, 21 timeframes, and a total of 6 order types (to accommodate 2 additional pending orders).

Extra Features

The MetaTrader platforms continue to rank best-in-class for their suite of additional features, including:

How To Place A Trade

You can place a trade on both platforms within minutes. The process is virtually the same and consists of just a handful of steps:

  1. Click on the ‘New Order’ button in the main toolbar
  2. In the order window, select the asset you want to trade and select either ‘Market Execution’ or ‘Pending Order’ from the drop-down
  3. Enter your desired position size, which is indicated in standard lots (100,000 units)
  4. Fill in your stop loss, take profit and expiry date fields, if applicable
  5. Confirm your trade

MT4 new order window at DNA Markets

💡

Tip: If you are executing a Market Order, you can set your stop loss/take profits after you have placed the trade. This is so you can enter the trade as fast as possible when the price is already moving.

Mobile App

I am disappointed that DNA Markets doesn’t offer a proprietary mobile app for managing accounts whilst on the go. While not a dealbreaker for me, this would provide a more complete trading experience and is provided by our 2023 Trading App Award WinnerCMC Markets.

On a more positive note, the MT4 and MT5 mobile apps are sufficient for making trades on the move, offering most of the same features available in the desktop versions.

The apps receive positive customer reviews overall – and for good reason. The platforms have been optimized exceptionally well for mobile use, including smooth chart functions and configurable windows using zoom and scroll options.

The best part is that you can set handy push notifications and access dozens of daily news materials from the palm of your hand, so you don’t miss out on trading opportunities.

Additional Tools

DNA Markets offers limited extra tools to improve the user experience, aside from some basic profit, margin, pip and currency conversion calculators.

You can also access Signal Start, which allows you to receive and act on trading signals. The tool includes a signal simulator which allows you to test various setups.

The good news is that you can get the first 3 months of the subscription free. The bad news is that the subscription costs $25 per month thereafter, plus an additional 30% for signal providers.

I also find it limiting because it lacks the social trading features available with apps like eToro, which provides more interaction with experienced traders, helping to up-skill beginners.

author image
Jemma Grist
Author

Research

1.8 / 5

DNA Markets seriously trails alternatives when it comes to market research tools.

Aside from the features in the MetaTrader platforms, DNA Markets doesn’t offer any additional research tools to help traders uncover market opportunities.

Most brokers I use, including Pepperstone, offer an economic calendar as a bare minimum, plus market insights and daily technical analysis. Day traders will have to look elsewhere for these standard resources.

Education

1.6 / 5

DNA Markets also falls notably short when it comes to trading education. Again, there are no educational resources for beginners or advanced traders looking for development opportunities.

Most leading brokers offer a one-stop-shop service for traders looking for trading courses, platform guides, ebooks and webinars. XTB is an excellent example here.

Customer Support

3.6 / 5

I have been fairly impressed with the customer support at DNA Markets. The broker is available 24/5 via live chat, telephone, email or contact form.

During tests, I received responses on live chat within 2 minutes. I also found my queries were dealt with effectively – the support agents were helpful and professional.

My only minor frustration is the lack of an FAQ section for quick answers.

Should You Trade With DNA Markets?

DNA Markets offers a compelling solution for short-term traders looking to use the reliable MetaTrader 4 and MetaTrader 5 platforms.

Importantly, DNA Markets scores at least 3 out of 5 in most of our core categories, performing particularly well for its account opening and banking options.

On the negative side, the lack of research and education is a major drawback for beginners. Additionally, I hope to see more regulatory oversight in place for non-Australian clients in the future.

FAQ

Is DNA Markets Legit Or A Scam?

DNA Markets is a legitimate broker, registered in Australia and St Vincent and the Grenadines.

Is DNA Markets Regulated?

Yes, DNA Markets Group (Focus Markets Pty Ltd) is regulated by the Australian Securities and Investments Commission (ASIC) which provides oversight for Australian clients. Focus Markets LLC is an unregulated offshore entity accepting non-Australian clients and providing limited regulatory protection.

Is DNA Markets Good For Beginners?

DNA Markets offers a Standard account for beginners looking for floating spreads from 1.0 pip and zero commissions. The minimum deposit is also reasonable at $100 and there is a free demo account. That said, it trails our top brokers for beginners like XTB because it lacks reliable educational tools.

Is DNA Markets Good For Day Trading?

DNA Markets is suitable for day traders. The Raw account, in particular, caters to active day traders with ultra-tight spreads, while the MetaTrader platforms offer advanced charting tools and reliable execution.

Does DNA Markets Offer Low Fees?

DNA Markets is a low-cost broker. Spreads start from 0.0 pips in the Raw account, with low commissions from $3 per side. Alternatively, Standard accounts come with zero commissions and floating spreads from 1.0 pip.

There are also no inactivity charges, and deposits and withdrawals are free on the broker’s side.

Top 3 Alternatives to DNA Markets

Compare DNA Markets with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
    Go to IG
  2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
    Go to Interactive Brokers
  3. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
    Go to World Forex

DNA Markets Comparison Table

Compare DNA Markets With Similar Brokers
DNA Markets IG Interactive Brokers World Forex
Rating 3 4.4 4.3 4
Markets CFDs, Forex, Indices, Commodities, Stocks, Crypto CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts
Demo Account Yes Yes Yes Yes
Minimum Deposit $100 $0 $0 $1
Minimum Trade 0.01 Lots 0.01 Lots $100 0.01 Lots
Regulators ASIC FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA FCA, SEC, FINRA, CBI, CIRO, SFC, MAS, MNB SVGFSA
Bonus 100% Deposit Bonus
Education No Yes Yes No
Platforms MT4, MT5 Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral Trader Workstation (TWS), Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral MT4, MT5
Leverage 1:500 1:30 (Retail), 1:250 (Pro) 1:50 1:1000
Payment Methods 10 6 6 10
Visit Visit Visit Visit Visit
Review IG
Review
Interactive Brokers
Review
World Forex
Review

Compare Trading Instruments

Compare the markets and instruments offered by DNA Markets and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare DNA Markets Trading Instruments
DNA Markets IG Interactive Brokers World Forex
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes No Yes
Gold Yes Yes Yes Yes
Copper No Yes No No
Silver Yes Yes No Yes
Corn No No No No
Crypto Yes Yes Yes Yes
Futures No Yes Yes No
Options No Yes Yes No
ETFs No Yes Yes No
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No Yes No No
Volatility Index No Yes No No

DNA Markets vs Other Brokers

Compare DNA Markets with any other broker by selecting the other broker below.

 

Customer Reviews

  4 / 5

This average customer rating is based on 3 DNA Markets customer reviews submitted by our visitors.

If you have traded with DNA Markets we would really like to know about your experience - please submit your own review. Thank you.

  5

To be honest, I didn’t have the opportunity to rate them at 4.5, so I rounded up. Overall, I’ve been quite impressed with this broker. I haven’t encountered any problems with withdrawals; they’ve been processed swiftly. The account managers have been responsive whenever I’ve had questions, and the execution of trades has been prompt.

My only suggestion for improvement would be to include TradingView as that is my preferred platform. However, despite this, as a low-cost broker that provides essential trading tools, they fulfil their promise.

✍ Hayden W | 🌐 United Kingdom | February 8, 2024
  4

I can’t fault the account opening at DNA Markets. It took me a few minutes to get started and I was already familiar with MT5 so there wasn’t a steep learning curve there. My only gripe is the narrow choice of shares and cryptos. DNA Markets is only decent if you want to trade the most popular financial assets like US equities.

✍ Henry | 🌐 United Kingdom | December 18, 2023
  3

I’ve been trading currencies using DNA Markets’ Standard account for several months and have been mostly pleased. The MT4 platform is great for charting and technical analysis while the support team are always available when I need them. They could do more in terms of research tools though – I often have to use third-party solutions which is frustrating.

✍ Will B | 🌐 Australia | December 18, 2023

Submit Your Own Review of DNA Markets

If you have experience trading with DNA Markets please share your personal review of the broker and what you think are strong and weak points. Thank you.

Visit
DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 250+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.

Article Sources

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com