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Daman Markets in United Arab Emirates — review, licence and costs
Score (5 of 6 axes scored)
shown, not ranked: no reviews
- Round-turn cost20%40
- Safety20%90
- Payouts15%60
- Track record10%100
- Platforms10%55
Numbered by weight: axis 1 counts for most.
Who actually onboards you
- Entity that onboards United Arab Emirates residents
- Daman Securities LLC
- Local standing
- SCA-regulated domestic; UAE/GCC-focused forex & CFD arm of Daman Securities
- Licence as the register states it
- SCA Category 1 License No. 604020 (Daman Securities LLC); authorized for UAE market trading/clearing plus global markets, OTC derivatives, commodities and spot forex
- Leverage for this entity
- DM Classic up to 1:500; DM Pro up to 1:100 (SCA-regulated CFD/forex)
- The firm behind it
- Launched 2022 as the UAE/GCC-focused MT5 CFD/forex brand of Daman Securities LLC (established 1998); World Trade Centre, Dubai
- What we hold against it
- not verified at review
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards UAE residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youSCA-regulated domestic; UAE/GCC-focused forex & CFD arm of Daman Securities
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against the UAE market median(priced from 60 of 75)
Medians run over the 60 of 75 brokers that publish a price for United Arab Emirates, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: DM Classic (min deposit $250, spreads from 1.2 pips, no commission, swap-free), DM Pro (min deposit $20, 000). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where Daman Markets sits in the UAE base(75 brokers)
Round-turn cost, USD (60 of 75 priced)
Median 7 USD · range 2-35 · this broker 17 USD · 15 of 75 brokers do not publish it
Minimum deposit, USD (33 of 75 priced)
Median 50 USD · range 0-10000 · this broker 250 USD · 42 of 75 brokers do not publish it
Retail leverage (53 of 75 with a UAE figure)
Median 1:500 · range 1-5000 · this broker 1:500 · 22 of 75 brokers do not publish it
Withdrawal time published (75 brokers)
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Deposit and withdrawal methods (4 methods · 1 local)
UAE bank wire transfer, VISA/Mastercard debit/credit cards
- UAE bank wire transferlocal
- Visa
- Mastercard debit
- Credit cards
- Account currency
- AED
- Fee declared
- 4 of 4 methods
- Withdrawal back to
- the funding method
Where it does not serve(18 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(1 platform)
- MetaTrader 5
| Class | Count | Min spread | Leverage |
|---|---|---|---|
| MetaTrader 5 | — | 1.2 | 500UAE |
98 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 92 more.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 10.10.2026 | 3.7 | 16 |
Share of reviewers in the UAE: — The platform does not publish it.
Pros and cons(3 for and 5 against, each tied to a figure on this page)
- Locally authorised, licence 604020, read on 11.07.2026
- Swap-free account available
- Track record 100 of 100, its strongest of 5 scored axes
- Round turn 17 USD on the raw + commission basis, over the United Arab Emirates median 7
- Min deposit 250 USD, over the United Arab Emirates median 50
- Withdrawal in 48 h, over the United Arab Emirates median 24
- Round-turn cost 40 of 100, its weakest of 5 scored axes
- Not scored on reviews: the broker publishes no figure we could read
Alternatives in the UAE(6 of 75 scored in United Arab Emirates)
- Round turn, USD
- 16UAE
- Min deposit, USD
- 1000UAE
- Leverage
- 100UAE
- Rank in this country
- #12
- Round turn, USD
- 15UAE
- Min deposit, USD
- 50UAE
- Leverage
- 500UAE
- Rank in this country
- #7
- Round turn, USD
- 15UAE
- Min deposit, USD
- 250 groupUAE
- Leverage
- 1000UAE
- Rank in this country
- #52
- Round turn, USD
- 6UAE
- Min deposit, USD
- 200UAE
- Leverage
- 50UAE
- Rank in this country
- #1
- Round turn, USD
- 9UAE
- Min deposit, USD
- 100 groupUAE
- Leverage
- 400 group
- Rank in this country
- #4
- Round turn, USD
- 5UAE
- Min deposit, USD
- 100 groupUAE
- Leverage
- 50UAE
- Rank in this country
- #3
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a UAE score. Full methodology
| Axis | Weight | What is measured | Daman Markets |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | — |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 40 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 90 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 60 |
| Track record | 10% | Years since the firm was founded, from its own filings | 100 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 55 |
FAQ
- Does Daman Markets accept residents of United Arab Emirates?
- Yes. SCA-regulated domestic; UAE/GCC-focused forex & CFD arm of Daman Securities Onboarding entity: Daman Securities LLC
- Is Daman Markets licensed to serve clients in United Arab Emirates?
- SCA Category 1 License No. 604020 (Daman Securities LLC); authorized for UAE market trading/clearing plus global markets, OTC derivatives, commodities and spot forex Checked on 11.07.2026.
- How much does one round turn cost at Daman Markets?
- About 17.0 USD per standard lot on EUR/USD. The median across brokers measured for United Arab Emirates is 7.0 USD.
- What leverage does Daman Markets offer to retail clients in United Arab Emirates?
- Up to 1:500. DM Classic up to 1:500; DM Pro up to 1:100 (SCA-regulated CFD/forex)
- Which trading platforms does Daman Markets support?
- MetaTrader 5. Instruments: Forex, and CFDs on indices, stocks, metals and commodities; also direct DFM/ADX local stock access via Daman Markets
- How can I withdraw money from Daman Markets in United Arab Emirates?
- UAE bank wire transfer, VISA/Mastercard debit/credit cards
- What account types does Daman Markets offer?
- DM Classic (min deposit $250, spreads from 1.2 pips, no commission, swap-free) and DM Pro (min deposit $20,000)
- Does Daman Markets offer a swap-free (Islamic) account?
- Yes. Daman Markets offers a swap-free (Islamic) account to United Arab Emirates residents.
Taxes for a UAE resident(1 rule)
- 0% personal income tax and 0% capital gains tax on individual trading profits (forex, stocks, crypto, derivatives) - as of the review (2026);https://damanmarkets.com/
Not tax advice. Check with the Federal Tax Authority.