DAMFOREX Forex Broker

DAMFOREXReview SummaryFounded2022Registered Country/RegionComorosRegulationNo regulationMarket InstrumentsForex, metals, indicesDemo Account❌LeverageUp to 1:400SpreadFrom 1.3 pips (Express account)Trading PlatformcTraderMin Deposit$50Customer SupportContact formEmail: support@damforex.comAddress: P.B. 1257 Bonovo Road, Fomboni, Comoros, KMRegional RestrictionsThe United States, Canada, Sudan, Syria, North Korea, Iran, Iraq, Mauritius, Myanmar, Yemen, Afghanistan, and Vanuatu clients are not allowedDAMFOREX Information DAMFOREX is an unregulated broker, offering trading on forex, metals and indices with leverage up to 1:400 and spread from 0.5 pips via cTrader trading platform. The minimum deposit requirement is only $50.Pros and ConsPros Cons Tight spreadsNo regulationLow minimum deposit requirementNo demo accountsNo MT4/MT5 platformFew contact channelsRegional restrictionsIs DAMFOREX Legit? Investing with DAMFOREX carries risk due to the absence of any valid regulation or oversight from government or financial authorities. It is crucial to conduct diligent research and carefully consider the potential risks and rewards before deciding to invest with them. It is advisable to invest with regulated brokers to ensure the safety and security of your funds.What Can I Trade on DAMFOREX?Tradable Instruments Supported Forex ✔Metals ✔Indices ✔Stocks❌Cryptocurrencies❌Bonds❌Options❌ETFs❌Account Type Here are two account types DAMFOREX offers:Account TypeMin DepositExpress $50Professional$5,000Leverage DAMFOREX offers different leverage ratios, depending on whether you have an Express or a Professional account. The maximum leverage of 1:400 is available to those with an Express account, while the maximum leverage for a Professional account is 1:100.Account TypeMax LeverageExpress 1:400Professional 1:100 Leverage is one of the most important factors when trading forex, as it can amplify potential profits as well as losses. Essentially, leverage allows traders to control larger positions with smaller amounts of capital. This means that traders can make significantly larger profits from relatively small price movements in the market. However, it is important to keep in mind that leverage also increases the level of risk.DAMFOREX FeesAccount TypeSpreadCommission Express From 1.3 pips✔Professional From 0.5 pips❌Trading PlatformTrading PlatformSupported Available Devices Suitable for cTrader ✔Web, Android, WindowsExperienced tradersMT4❌/BeginnersMT5❌/Experienced tradersDeposit and Withdrawal No minimum withdrawal amount defined and no fees or charges specified. The available payments are not mentioned.