Short for direct market access, DMA forex brokers in Australia are all well-regulated by the Australian Securities and Investments Commission (ASIC). This is a very reputable financial regulator, which enforces rules for brokers similar to those found in other major jurisdictions such as the EU, USA and Canada.
With DMA forex brokers, traders in theory get access directly to the interbank market where their orders are matched with orders from other market participants. This differs from the dealing desk model, where all orders are matched internally by the broker taking the other side of the trade. In general, DMA trading, whether in Australia or elsewhere, comes with lower spreads than trading with a dealing desk.