Daman Markets Forex Broker

Daman Markets Review SummaryFounded2022Registered Country/RegionUnited Arab EmiratesRegulationSCA regulatedMarket InstrumentsForex, Commodities, Indices, Stocks, MetalsDemo Account/SpreadFrom 1.2 pips (DM Classic account)LeverageUp to 1:500Minimum Deposit$250Trading PlatformMetaTrader 5Customer SupportLive chatSocial media: Facebook, LinkedIn, InstagramAddress: Dubai World Trade Center, Suite 1401, P.O. Box 9436, Dubai, United Arab EmiratesPhone: +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.Pros and ConsProsConsSCA regulatedCommissions charged on the DM PRO accountMT5 platformHigh minimum depositSocial trading availableRegion restrictionsIs 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 NumberSecurities and Commodities Authority (SCA)RegulatedUnited Arab EmiratesRetail Forex License20200000043What 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 InstrumentsSupportedForex✔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 TypeDM ClassicDM ProMinimum Deposit$250$20,000SpreadFrom 1.2 pipsFrom 0 pipsCommission❌$35 per mil USDLot Size0.01Stop-out Level50%Swap FreeUpon 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 TypeDM ClassicDM ProLeverageUp to 1:500Up to 1:100Trading 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.