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Daman Markets

United Arab Emirates|1-2 years|
Retail Forex License|Suspicious Scope of Business|High potential risk|

https://damanmarkets.com/

Website

Rating Index

Contact

+971 44080401
https://damanmarkets.com/
Dubai World Trade Center, Suite 600, P.O. Box 9436 Dubai, United Arab Emirates

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

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Contact number

English

+971 44080401

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Broker Information

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Company Name

Al Damman Securities LLC

Abbreviation

Daman Markets

Platform registered country and region

United Arab Emirates

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-12-05
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

WikiFX Verification

Daman Markets · WikiFX Survey
Danger A Visit to Daman Markets in UAE – No Office Found
United Arab Emirates

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Daman Markets · Company Summary

Daman Markets Review Summary
Founded2022
Registered Country/RegionUnited Arab Emirates
RegulationSCA regulated
Market InstrumentsForex, Commodities, Indices, Stocks, Metals
Demo Account/
SpreadFrom 1.2 pips (DM Classic account)
LeverageUp to 1:500
Minimum Deposit$250
Trading PlatformMetaTrader 5
Customer SupportLive chat
Social media: Facebook, LinkedIn, Instagram
Address: Dubai World Trade Center, Suite 1401, P.O. Box 9436, Dubai, United Arab Emirates
Phone: +97144080401 (Main), +97144080476 (Sales)
Region RestrictionsAfghanistan, Congo, Haiti, Iran, Kenya, Libya, Mali, Myanmar, North Korea (DPRK), Russia, Somalia, South Sudan, Syria, Venezuela, Yemen, etc.

Daman Markets Information

Daman Markets, a brokerage company who started business since 2022 in UAE, mainly offers trading services in Forex, Commodities, Indices, Stocks, Metals via the world-renowned MT5 platform. The company allows social trading for traders to interact and follow successful predecessor investors.

Daman Markets Information

Pros and Cons

ProsCons
SCA regulatedCommissions charged on the DM PRO account
MT5 platformHigh minimum deposit
Social trading availableRegion restrictions

Is Daman Markets Legit?

Daman Markets is officially regulated by SCA (Securities and Commodities Authority), with licenses numbering at 20200000043, indicating legal compliance in the region.

Regulated CountryRegulatorRegulatory StatusRegulated EntityLicense TypeLicense Number
Is Daman Markets Legit?
Securities and Commodities Authority (SCA)RegulatedUnited Arab EmiratesRetail Forex License20200000043

What Can I Trade on Daman Markets?

Daman Markets provides trading services to a wide range of market instruments, mainly in 4 asset classes.

Forex: Forex, or foreign exchange, is the global marketplace for trading national currencies against one another, facilitating international trade and investment.

Commodities: Commodities are basic goods used in commerce that are interchangeable with other goods of the same type, such as precious metals.

Indices: Indices are statistical measures that represent the performaDaman Markets of a specific group of assets, such as stocks or bonds.

Shares: Shares represent ownership stakes in large companies such as Apple, Tesla etc..

When dealing with investment activities, always adhere to the principle of diversification by allocating funds across various products rather than only a single one you feel optimistic about.

Tradable InstrumentsSupported
Forex
Commodities
Indices
Cryptocurrencies
Shares
ETFs
Bonds
Mutual Funds
What Can I Trade on Daman Markets?

Account Type/Fees

Daman Markets provides 2 tiered live account types:

The DM CLASSIC account requires a minimum deposit of $50, with spread starting from 1.2 pips and zero commissions. Swap free is upon request for those who need to comply to Sharia laws.

While DM PRO account has a much higher entry point at $20000, spread is tighter from 0 pipswhile there will be a commission of $35 per mil USD. Swap free is not available with this account.

Account TypeDM ClassicDM Pro
Minimum Deposit$250$20,000
SpreadFrom 1.2 pipsFrom 0 pips
Commission$35 per mil USD
Lot Size0.01
Stop-out Level50%
Swap FreeUpon request
Account Type/Fees

Leverage

Leverage, a trading tool that enables you to control larger positions with smaller capital, should always be used cautiously, with risk management indispensable for every investors.

With Daman Markets, leverage level is up to 1:500 for DM CLASSIC account and up to 1:100 for DM PRO account.

Account TypeDM ClassicDM Pro
LeverageUp to 1:500Up to 1:100

Trading Platform

Daman Markets offers the popular and robust MetaTrader5 platform for traders to excute trades.

MetaTrader5 is a widely-used platform that is capable of executing orders instantly and displaying 100 technical charts simultaneously. It's also equipped with fundamental analysis, trading signals and allows for copy trading functions. You can use it by downloading an app from PC, and mobile phones on both iOS and Android platforms.

Leverage

News

Daman Markets collaborates with Dubai Racing Club

NewsDaman Markets collaborates with Dubai Racing Club

2024-11-07 18:03

UAE-based, Retail broker Daman Markets, which is a branch of the brokerage firm Daman Securities announced its partnership with the DRC for the 2024 – 2025 season.

WikiFX
2024-11-07 18:03
News
Daman Markets collaborates with Dubai Racing Club

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