This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.


      This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

      Terms of Use

      General information

      DMA refers to SCM DMA (Pty) Ltd, SCM DMA (Mauritius) Limited, Direct Market Access UK Limited, SCMSA Nominees (Pty) Ltd and any subsidiary or affiliate of these companies; including any director, officer, employee or agent of these companies as may be appropriate.

      This website, web-based solution and/or application software, including all related services, content, databases and information provided in relation thereto (hereafter generally “Services” or “Site/s” respectively and as appropriate) can be accessed worldwide; however, the information on the Site is related to DMA generally and is not specific to a particular DMA entity unless otherwise set out. Where not specifically set out, any disclaimers and these Terms of Use shall be governed by the laws of South Africa within the legal jurisdiction of South Africa.

      By using the Sites and Services, you confirm your consent to be bound by these Terms of Use. If you do not agree, DMA is not willing to provide you with access and you should immediately discontinue your use. Further, DMA may modify the Terms of Use at any time in its sole discretion and without prior notice to you. Such changes will be posted online and will be effective upon posting. You should review these Terms of Use periodically to ensure familiarity with its then-current form and continued acceptance thereof by your continued use of the Sites and Services.

      Certain other engagements with DMA shall be governed by terms and conditions that may not be contained herein and, consequently, set out separately and clearly.

      The content and information included in the Sites are provided by DMA and its third-party suppliers (collectively, the “Information Providers”). Any fact, assessment, analysis, forecasts, opinion and other information (collectively “Information”) released by DMA or any director, officer, employee or representative hereof, whether provided on DMA’s Sites, on third party sites, in marketing materials, newsletters, in individual emails and letters, in lectures, individual conversations or in any other form of written or verbal communication (collectively “Publication/s”) are provided for informational and/or marketing purposes only. Unless specifically stated, no Publication of DMA should be construed as an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument; make any investment; or participate in any particular trading strategy; (collectively “Offer/s”). Notwithstanding anything to the contrary (not even if specifically stated), no Publication of DMA should be construed as an Offer in any jurisdiction in which such Offer would be illegal. Any such perceived Offer will not be honoured by DMA.

      Regardless of the platform, gateway, portal or mode of access you use to install, download or access the Sites, your mobile or other service provider may, depending on the type of contract you have, charge you for accessing the Site or for any usage of the Site (such as data charges or SMS charges). DMA cannot be held responsible for these charges.

      No representation, no warranty

      DMA uses reasonable efforts to obtain information from reliable sources but all Publications are provided on an “as is” basis without representation or warranty of any kind (neither express nor implied) and DMA disclaims liability for any Publication not being complete, accurate, suitable and relevant for the recipient. Specifically, DMA and its Information Providers disclaim liability towards any subscriber, client, partner, supplier, counterparty and other recipients for the accuracy of any market quotations; any delay, inaccuracy, error, interruption or omission in providing market quotations; and/or, any discontinuance of market quotations. The Publications of DMA are not updated after their release and may, due to changing circumstances, become inaccurate and possibly misleading after a period of time which may vary from seconds and minutes to days, weeks and months depending on the Information. DMA gives no guarantee against, and assumes no liability towards, any recipient for a Publication being outdated. If a Publication becomes  DMA shall be under no obligation to update the Publication; inform the recipients of a Publication; or, perform any other action. Any Publication may be personal to the author and may not reflect the opinion of DMA. DMA reserves the right at its sole discretion to withdraw or amend any Publication or Information provided at any time without notice (prior or subsequent).

      No recommendations

      DMA does not, in any of its Publications, consider any particular recipient’s investment objectives, special
      investment goals, financial situation, and specific needs and demands; therefore, all Publications of DMA are, unless otherwise specifically stated, intended for informational and/or marketing purposes only, and should not be construed as business, financial, investment, hedging, legal, regulatory, tax or accounting advice; a recommendation or trading idea; or, any other type of encouragement to act, invest or divest in a particular manner (collectively “Recommendations”). DMA shall not be responsible for any loss arising from any investment based on a perceived Recommendation. Notwithstanding anything to the contrary (not even if specifically stated), no Publication (including possible Recommendations) shall be construed as a representation or warranty (neither express nor implied) that the recipient will profit from trading in accordance with a trading strategy set forth in a Publication or that the recipient will not sustain losses from trading in accordance with a trading strategy set forth in a Publication. DMA shall only be liable (in accordance with the “Limitation of Liability” section below) if a possible Recommendation is not of a good, professional standard.

      Speculative trading is not suitable for all investors

      Any mention in a Publication (if any) of the risks pertaining to a particular product or service may not and should neither be construed as a comprehensive disclosure, nor full description of all risks pertaining to such a product or service.

      Many of the products described in the Services (or Publications) involve significant risks and you should not enter into any transactions unless you have fully understood all risks involved and have independently determined that such transactions are appropriate for you. Any discussion of the risks contained herein with respect to any product should not be considered to be a comprehensive disclosure of all risks or a complete discussion of the risks which are mentioned.

      You should not construe any of the material contained herein as business, financial, investment, hedging, trading, legal, regulatory, tax, or accounting advice.


      DMA’s Publications may be accessed worldwide. The Information provided in such Publications is, however, only intended for use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. None of the products and services referred to in the Publications of DMA are available to recipients residing in countries where the provision of such products and services would constitute a violation of mandatory applicable legislation or regulations.

      It is the sole responsibility of any recipient employing or requesting a product or service of DMA to comply with all applicable legislation or regulation specific to them.

      Use of the site/s and services

      You shall not use the Sites or Services (including Publications) for any unlawful or unauthorised purpose.

      DMA has made its Site/s and Services available to you for your non-commercial use unless otherwise agreed in writing. You may print or download material on the Site for your personal, non-commercial use provided that it is not in contravention of these Terms of Use.

      We may modify, withdraw or deny access to the system at any time, including where it is found to be subjected to any unlawful or unauthorised use or abuse.

      It is prohibited to use, store, reproduce, display, modify, sell, publish, transmit and distribute, or commercially exploit the Sites or Services without prior written permission of DMA and/or any third-party
      Information Provider(s).

      DMA and/or any third-party Information Provider(s) reserve all rights to proprietary information (including, but not limited to, all intellectual property rights such as; patents, trademarks, service marks, copyrights, database rights, topography rights, industrial design, know-how, trade secrets, trade names, logos, designs, symbols, emblems, insignia, slogans, drawings, plans and other identifying materials, in all forms whether or not registered or capable of registration and any other rights relating to intellectual property in accordance with the applicable laws,) subsisting in or relating to the Services.

      If you are provided with login details to access the Sites or Services, you must keep these details (including, your username and password) confidential and not allow other people to use it. Consequently, you accept full responsibility for all activities that occur under your login details and accept responsibility for sharing your username and password. You are only permitted to have one access. If you use more than one, then DMA can revoke all access.
      DMA may refuse to provide access to the Sites or Services if, where necessary, we are unable to verify any information that you provide to us.

      You agree that the following actions shall be material breaches of these Terms of Use:

      –  signing in as, or pretending to be, another person;
      –  transmitting material that violates, or could violate, the intellectual property rights or privacy of others;
      –  sending, receiving, introducing, displaying, accessing websites, printing or otherwise disseminating material that is strictly prohibited. Prohibited material includes but is not limited to content that is sexually explicit, profane, obscene, harassing, fraudulent, racially offensive, defamatory, destructive programs (i.e. viruses or self-replicating code) or which is otherwise unlawful;
      –  using interactive services in a way that is intended to harm, or could result in harm, to you or to other users of the Site or Services, or, gathering information about others without obtaining their prior written consent; and
      –  you also agree that any use of your access details shall be regarded as if you were the person using such information.

      Third party services

      Persons or entities not belonging to DMA may advertise on the DMA website through links, banners or otherwise. DMA shall not be held responsible or liable for the offerings, information or acts of any such third party. If a user of DMA’s Sites decides to act upon any such advertising, such user does so entirely at their own risk with such third party as their counterpart.

      Limitation of liability

      Neither DMA nor any of its third-party Information Providers shall be liable for any direct, indirect, incidental, special or consequential damages arising out of or relating to this Agreement or resulting from the use or the inability to use or access the Sites or Services, including but not limited to damages for loss of profits, use, data, damage to computer equipment and computer systems caused by virus, malware and/or any other harmful computer coding, or other intangible damages, even if such party has been advised of the possibility of such damages.

      Although DMA endeavours to ensure the system is secure and updated regularly, DMA cannot be held liable for any loss, harm or damage suffered as a result of the use of the system or users who fall subject to hacking, data loss etc. We do not guarantee that the system will be available all the time or at any specific time, that access will be uninterrupted, that there will be no delays, failure, errors, omissions or loss of transmitted information.

      DMA has taken all reasonable steps to reduce the risks of viruses and other interferences or vulnerabilities but cannot certify that the system is immune to all viruses or defects. DMA therefore does not accept any liability for any damage suffered or loss sustained as a result of any transmission, use of the system, its effect on or compromising of any other systems and/or device. You have sole responsibility for adequate protection and backup of any data or information.

      If DMA should, at any time and for any reason, become liable for the loss of any person and/or entity, including, without limitation, if any provision of this disclaimer is or at any time becomes to any extent or in any circumstances invalid, illegal or unenforceable for any reason, the liability of DMA shall be limited to such person’s and/or entity’s duly documented direct loss, which for the avoidance of doubt, and without limitation, shall not include damages for any incidental and/or consequential losses, damages for lost opportunity, damages for lost profit, statutory damages, nominal damages, punitive damages, restitutionary or disgorgement damages, damages for costs (including legal costs), or damages for any other indirect loss.

      Conflict of interest

      DMA may act as market maker in all products and services not traded on an exchange (i.e. OTC products such as foreign exchange and CFDs) and may therefore be the counterparty in any trade conducted by customers in these products. For more information, please see DMA’s Conflict of Interest Policy.

      Privacy and use of personal data

      Your privacy is very important to DMA and we will use reasonable efforts in order to ensure that any information, including personal information, provided by you or which is collected from you or third parties on DMA’s behalf, is stored in a secure manner as required by relevant data protection laws applicable to DMA. For further information, please see DMA’s Privacy Notice.

      By agreeing to the Terms of Use you acknowledge and agree that DMA, in the interest of security, reserves the right to record all telephone conversations, internet conversations (including chat) and any meetings between you and DMA. You furthermore agree that DMA reserves the right to monitor your use of the Services on the website and that the resultant information may be used by DMA for its internal business purposes.


      On the election of DMA, this disclaimer and any dispute arising from or in relation thereto, including disputes regarding its legality, validity, binding effect (including adoption) and enforceability, shall be settled by the South Gauteng Division of the High Court of South Africa (as in accordance with and subject exclusively to the laws of South Africa); however, DMA reserves the right to initiate legal proceedings wherever it deems fit.


      All content of the Site/s are the property of DMA unless otherwise stated (for instance, data supplied by a third party). For pages where no third-party rights are listed (in the copyright statement at the bottom of each page), the following rules apply:

      –  you may print the pages and store one copy on your PC for personal use.
      –  You may not distribute the information to others, but you may quote opinions and information from
      the Site if you include a clear reference to DMA and to the website and to the disclaimer available on .
      –  You may also link to any portion of the site if the link clearly states the name of DMA and if it opens the page in a new browser window and not in a foreign frameset. No other uses of the Sites and/or its content other than those described above are allowed or may be inferred unless expressly permitted in writing by DMA.

      Any questions about copyright issues in relation to the Sites should be directed to: