DAMAN MARKETS Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-10-29 15:53

Abstract：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 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.