DAMFOREX

WikiFX | 2024-11-05 15:40

Abstract：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.

DAMFOREXReview Summary
Founded	2022
Registered Country/Region	Comoros
Regulation	No regulation
Market Instruments	Forex, metals, indices
Demo Account	❌
Leverage	Up to 1:400
Spread	From 1.3 pips (Express account)
Trading Platform	cTrader
Min Deposit	$50
Customer Support	Contact form
	Email: support@damforex.com
	Address: P.B. 1257 Bonovo Road, Fomboni, Comoros, KM
Regional Restrictions	The United States, Canada, Sudan, Syria, North Korea, Iran, Iraq, Mauritius, Myanmar, Yemen, Afghanistan, and Vanuatu clients are not allowed

DAMFOREX 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 Cons

Pros	Cons
Tight spreads	No regulation
Low minimum deposit requirement	No demo accounts
	No MT4/MT5 platform
	Few contact channels
	Regional restrictions

Is 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 Type	Min Deposit
Express	$50
Professional	$5,000

Leverage

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 Type	Max Leverage
Express	1:400
Professional	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 Fees

Account Type	Spread	Commission
Express	From 1.3 pips	✔
Professional	From 0.5 pips	❌

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
cTrader	✔	Web, Android, Windows	Experienced traders
MT4	❌	/	Beginners
MT5	❌	/	Experienced traders