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Daman Securities -

Score

1.53 /10
Danger

Daman Securities

United Arab Emirates

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

http://www.damansecurities.com

Influence

D

Add brokers

Comparison

Quantity 4

Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index7.18

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

Licenses

No valid regulatory information, please be aware of the risk

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

Single Core

1G

40G

open now

Broker Information

More

Company Name

Daman Securities LLC

Company Abbreviation

Daman Securities

Platform registered country and region

United Arab Emirates

Company website

X

Facebook

Instagram

YouTube

Linkedin

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 2
Previous Detection : 2025-06-18
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Exposure

4 pieces of exposure in total
Pyramid scheme complaint
Expose
Resolved

requested to withdraw,close my wallet account

I requested to withdraw the balance of my wallet account and close it on 7/25/2023 via WhatsApp, and I am waiting for the result, but there is still no response.

bina79
2023-07-27 02:26
Resolved

Credibility execution and scam

Ignoring withdrawals, non-response, and seizing the wallet account after only one trading per week, and then not making other deals, providing illogical justifications, and not settling the problem after promises of a solution.

bina79
2023-08-25 07:06
Unable to Withdraw

Unable to withdrawal and taking out money from me under the pretext of taxes and commissions

I cannot withdraw my money in the wallet with Daman Securities Company. They forced me to pay more than one tax and threatened to freeze the amount in case of non-payment. Even after I paid the tax, they did not transfer the amount to me and created new excuses, and until now I have not received the amount despite I have completed all taxes and procedures they required.

bhih
2023-11-01 21:03
Resolved

Iraq

Emirati Abu Dhabi Daman Securities website, and their website is fake, Dirubalcom. They ask you for the amount of money. When you want to withdraw your money in the name of taxes, they take 15% from you. They don’t send you profits in the account before you pay them $3,000 tax. They write a check in your name and the amount you want to withdraw from them, then they send a check in your name to your account. From one hour up to 4 hours, he completes the check for you and sends it to you, telling you that he will receive the profits in seconds. Withdrawing profits through Zain Cash, and through the bank is delayed. Fraud and taking people’s money untruthfully. What do you say before God on the Day of Resurrection? God is sufficient for us, and He is the best disposer of affairs. fire of the afterlife.

FX2443258362
2023-05-12 03:19
Daman Securities · Company summary
Daman Securities Review Summary
Founded2014
Registered Country/RegionUnited Arab Emirates
RegulationNo regulation
Market InstrumentsForex, commodities, CFDs, indices, metals, cryptos, stocks
Demo Account❌
LeverageUp to 1:500
SpreadFrom 1.2 pips (DM classic account)
Trading PlatformDaman Securities's own online web-based trading, mobile trading, Daman Pro trading, MT5
Minimum Deposit$250
Customer Support24/5 support, contact form
Tel: +97144080300
Email: csds@daman.ae
Address: Suite 14 Dubai World Trade Center, P.O. Box 9436. Sheikh Zayed Road, Dubai, United Arab Emirates
Facebook, X, Instagram, LinkedIn, YouTube
Regional RestrictionsResidents of Afghanistan, Central African Republic, Congo, Haiti, Iraq, Iran, Kenya, Lebanon, Libya, Mali, Myanmar, North Korea (DPRK), Russia, Somalia, Sudan, South Sudan, Syria, Venezuela, Yemen

Daman Securities Information

Daman Securities is an unregulated broker, which founded in United Arab Emirates, 2014, offering trading on forex, commodities, CFDs, indices, cryptos, stocks and metals with leverage up to 1:100 and spread from 1.2 pips on the web-based and MT5 trading platform. The minimum deposit requirement is $250. Besides, residents of Afghanistan, Central African Republic, Congo, Haiti, Iraq, Iran, Kenya, Lebanon, Libya, Mali, Myanmar, North Korea (DPRK), Russia, Somalia, Sudan, South Sudan, Syria, Venezuela and Yemen are not allowed.

Daman Securities Information

Pros and Cons

Pros Cons
Long operation timeLack of regulation
Various contact channelsNo demo accounts
Various trading productsNo MT4 platform
MT5 platformRegional restrictions
High minimum deposit requirement
Commission fees charged
Limited account choices

Is Daman Securities Legit?

No. Daman Securities currently has no valid regulations. Please be aware of the risk! Besides, its domain status shows that client transferring is prohibited.

Daman Securities domain

What Can I Trade on Daman Securities?

Daman Securities provides a wide range of trading products such as forex, commodities (such as gold, silver, and copper), CFDs, indices, cryptos, stocks and metals.

Tradable Instruments Supported
Forex✔
CFDs✔
Commodities✔
Metals✔
Indices ✔
Stocks✔
Cryptos✔
Bonds❌
Options❌
ETFs❌

Account Type

Account TypeMinimum Deposit
DM classic$250
DM pro$20,000
Account Type

Leverage

Account TypeMaximum Leverage
DM classic1:500
DM pro1:100

Daman Securities Fees

Account TypeSpreadCommission
DM classicFrom 1.2 pips❌
DM proFrom 0 pips✔

Non-Trading Fees

Daman Securities does not apply for any deposit fees.

Daman Securities Fees

Swap Rates

Account TypeSwap free
DM classicUpon request
DM proNo

Trading Platform

Daman Securities uses its own trading platforms which are available in web, PC, and mobile devices, and it also supports commonly used MT5.

Trading PlatformSupported Available Devices Suitable for
Online Web-Based Trading✔Online web trader, PC/
Mobile Trading✔Mobile/
Daman Pro Trading✔PC, web/
MT5✔PC, mobile, webExperienced traders
MT4❌/Beginners
Trading Platform
Trading Platform

User Reviews

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User comment

4

Comments

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FX1924921592
3-6months
شركة موثوقة تقدم خدمات متنوعة، لكنها تحتاج إلى تحسين بعض الجوانب مثل دعم العملاء وسرعة التنفيذ في بعض الحالات. مميزاتها هي ✅ مرخصة ومنظمة رسميًا. ✅ توفر خدمات مالية متنوعة للمستثمرين الأفراد والشركات. ✅ استخدام التكنولوجيا الحديثة في التداول.
شركة موثوقة تقدم خدمات متنوعة، لكنها تحتاج إلى تحسين بعض الجوانب مثل دعم العملاء وسرعة التنفيذ في بعض الحالات. مميزاتها هي ✅ مرخصة ومنظمة رسميًا. ✅ توفر خدمات مالية متنوعة للمستثمرين الأفراد والشركات. ✅ استخدام التكنولوجيا الحديثة في التداول.
Translate to English
2025-03-14 02:51
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0
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Chow Kok Liang
more than one year
I made a profit of $87 and deposited $150 into my real account to withdraw my earnings. However, when I requested the transfer of profits, they claimed I was not eligible to transfer my earnings due to a violation of their terms and conditions. As they put it, haha, these people are a bunch of liars. They will never allow you to withdraw profits, and they can refuse without providing any evidence of the violation when they ask for profit transfers.
I made a profit of $87 and deposited $150 into my real account to withdraw my earnings. However, when I requested the transfer of profits, they claimed I was not eligible to transfer my earnings due to a violation of their terms and conditions. As they put it, haha, these people are a bunch of liars. They will never allow you to withdraw profits, and they can refuse without providing any evidence of the violation when they ask for profit transfers.
Translate to English
2024-01-26 18:44
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4