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Daman Markets
United Arab Emirates|1-2 years| https://damanmarkets.com/
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1G
40G
Contact number
+971 44080401
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Al Damman Securities LLC
Daman Markets
United Arab Emirates
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- The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
- The current information shows that this broker does not have a trading software. Please be aware!
WikiFX Verification
United Arab Emirates| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:100 |
| Minimum Deposit | $20,000 |
| Minimum Spread | From 0.0 |
| Products | Forex • Commodities • Indices • Metals |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | $35 per mil usd |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | $250 |
| Minimum Spread | From 1.4 |
| Products | Forex • Commodities • Indices • Metals |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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Daman Markets · Company Summary
| Daman Markets Review Summary | |
| Founded | 2022 |
| Registered Country/Region | United Arab Emirates |
| Regulation | SCA regulated |
| Market Instruments | Forex, Commodities, Indices, Stocks, Metals |
| Demo Account | / |
| Spread | From 1.2 pips (DM Classic account) |
| Leverage | Up to 1:500 |
| Minimum Deposit | $250 |
| Trading Platform | MetaTrader 5 |
| Customer Support | Live 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 Restrictions | Afghanistan, 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.
Pros and Cons
| Pros | Cons |
| SCA regulated | Commissions charged on the DM PRO account |
| MT5 platform | High minimum deposit |
| Social trading available | Region 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 Country | Regulator | Regulatory Status | Regulated Entity | License Type | License Number |
 | Securities and Commodities Authority (SCA) | Regulated | United Arab Emirates | Retail Forex License | 20200000043 |
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 Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Shares | ✔ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
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 Type | DM Classic | DM Pro |
| Minimum Deposit | $250 | $20,000 |
| Spread | From 1.2 pips | From 0 pips |
| Commission | ❌ | $35 per mil USD |
| Lot Size | 0.01 | |
| Stop-out Level | 50% | |
| Swap Free | Upon request | ❌ |
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 Type | DM Classic | DM Pro |
| Leverage | Up to 1:500 | Up 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.
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