Company Profile
Company Profile
Review summary
| Daman Securities Review Summary | |
| Founded | 2014 |
| Registered Country/Region | United Arab Emirates |
| Regulation | No regulation |
| Market Instruments | Forex, commodities, CFDs, indices, metals, cryptos, stocks |
| Demo Account | ❌ |
| Leverage | Up to 1:500 |
| Spread | From 1.2 pips (DM classic account) |
| Trading Platform | Daman Securities's own online web-based trading, mobile trading, Daman Pro trading, MT5 |
| Minimum Deposit | $250 |
| Customer Support | 24/5 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 Restrictions | 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, 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.
Pros and Cons
| Pros | Cons |
| Long operation time | Lack of regulation |
| Various contact channels | No demo accounts |
| Various trading products | No MT4 platform |
| MT5 platform | Regional 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.
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 Type | Minimum Deposit |
| DM classic | $250 |
| DM pro | $20,000 |
Leverage
| Account Type | Maximum Leverage |
| DM classic | 1:500 |
| DM pro | 1:100 |
Daman Securities Fees
| Account Type | Spread | Commission |
| DM classic | From 1.2 pips | ❌ |
| DM pro | From 0 pips | ✔ |
Non-Trading Fees
Daman Securities does not apply for any deposit fees.
Swap Rates
| Account Type | Swap free |
| DM classic | Upon request |
| DM pro | No |
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 Platform | Supported | Available Devices | Suitable for |
| Online Web-Based Trading | ✔ | Online web trader, PC | / |
| Mobile Trading | ✔ | Mobile | / |
| Daman Pro Trading | ✔ | PC, web | / |
| MT5 | ✔ | PC, mobile, web | Experienced traders |
| MT4 | ❌ | / | Beginners |
bhih
Libya
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.
Exposure
bina79
Libya
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.
Exposure
bina79
Libya
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.
Exposure
FX1924921592
Egypt
A reliable company that offers diverse services, but needs improvement in some aspects such as customer support and execution speed in some cases. Its features are: ✅ Licensed and officially regulated. ✅ Provides diverse financial services for individual and corporate investors. ✅ Utilizes modern technology in trading.
Neutral
FX2443258362
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.
Exposure