What Daman Markets costs per trade
ADVERTISEDThe DM Classic account page states Spreads: From 1.2 pips with 0% commission, charges included in the spread. The DM Pro tier is excluded: its commission is published as From $17 per mill USD, a notional-volume basis the site never resolves to a per-side or round-turn figure. Daman's own pages also disagree about the DM Classic minimum deposit, $100 on two pages and $250 on a third. Figures are Daman Markets’s own published EUR/USD pricing, captured 2026-08-23 from its UAE-facing site, not spreads we have measured on a funded account. One pip on one standard lot of EUR/USD is US$10, which is the contract size and not an exchange rate, so nothing here converts through a currency.
At 1.0 lot and 20 trades a month on EUR/USD, DM Classic costs US$12.00 per round turn (1.20 pips spread, with no commission charged).
Source: Daman Markets’s published UAE pricing, captured 2026-08-23. Swap, financing, inactivity and withdrawal charges sit outside this figure.
Trading CFDs and forex carries a high level of risk and may not be suitable for all investors. Read the broker’s own client agreement, and confirm the licensed entity you are contracting with, before opening an account.
Our verdict on Daman Markets
Daman Markets holds an onshore UAE dealing licence from the CMA, which places it within the mainland regulatory framework. The broker publishes high leverage ratios, including 500:1 on major and minor currency pairs, but the the CMA retail maximum is 500:1 on major forex pairs, so those figures are a commercial decision. The platform range is narrow: only MetaTrader 5 is available, with no MT4, cTrader, or proprietary alternative.
Costs are opaque. Neither the DM Classic nor the DM Pro account publishes a spread figure; the broker labels spreads as advertised without stating a typical value. The DM Classic minimum deposit is USD 100, while DM Pro requires USD 20,000 and charges a commission of USD 17 per lot per side. Account currencies are not disclosed, and no AED-denominated trading account exists despite AED being accepted for deposits.
The swap-free offer is a marketing claim only, with no Shariah board, no terms document, and no replacement fee stated. The offer applies only to DM Classic accounts and excludes 26 instruments. The exact contracting entity is unclear because the website shows three different legal names across its footer, terms, and client agreement PDF. A UAE resident should verify which entity they are dealing with before opening an account.
Pros
- Regulated onshore by the CMA (formerly SCA) under dealing licence CP-0001473.
- AED accepted for deposits via bank transfer, cards, Apple Pay, and Google Pay.
- MetaTrader 5 available on the UAE App Store and Google Play.
- Demo account offered with a 1,000-day duration.
Cons
- No published spread figures for any account; costs cannot be compared.
- No AED-denominated trading account, and AED conversion fee is unclear.
- Swap-free account is a marketing claim with no formal documentation or Shariah oversight.
- The contracting entity is ambiguous: footer, terms, and client agreement name three different companies.
Daman Markets score breakdown
3/5 · Good
The overall CFB Score comes from the full methodology, more than 100 data points per broker. The category ratings summarise each area and do not reconcile by simple average.
How is our rating calculated?
Is Daman Markets regulated in the UAE
Daman Markets holds a UAE licence. The entity is DAMAN MARKETS FINANCIAL SERVICES L.L.C, registered with the CMA (formerly SCA) under CP-0001473. Its dealing licence lets the firm act as counterparty to your trades. The website footer displays a different number, CMA Category 1 Licence No. 20200000356, which likely refers to the same authorisation.
For you, a dealing licence means the UAE entity can be the direct counterparty to your trade. Your funds are held under CMA custody rules. That onshore registration places Daman Markets inside the mainland regulatory framework, not the free-zone authorities with their own leverage caps. The next section examines what trading with this broker costs.
What other review sites say
Daman Markets holds a Trustpilot rating of 3.1 out of 5 from 9 reviews, which Trustpilot labels average, captured August 2026.
What trading with Daman Markets costs
Daman Markets does not publish spread figures. You can choose between two accounts. DM Classic asks for a minimum deposit of USD 100 and charges no commission. DM Pro requires USD 20,000 and carries a commission of USD 17 per lot per side. Both label their spreads as “advertised” but give no typical value. The account currencies are not stated either.
Without published spreads, comparing costs is difficult. You cannot see the spread before you open a DM Classic or DM Pro account. The swap-free claim, offered only on DM Classic, gives you no additional spread information. The leverage limits that apply to Daman Markets follow.
Leverage limits that apply to Daman Markets
The CMA retail maximum for major forex pairs is 500:1 for onshore brokers. Daman Markets publishes its own maximums, which are a commercial choice, not a regulatory tier. The broker lists 500:1 on major and minor currency pairs, 200:1 on gold, major indices, and other commodities, 10:1 on single shares, and 5:1 on cryptocurrency. Minor indices are not stated.
You may have seen a 50:1 ladder attributed to the SCA, but that is the US NFA and CFTC retail forex structure; no CMA article or decision number supports it. The 30:1 cap on major pairs belongs to the DFSA (DIFC) and the FSRA (ADGM), separate free-zone regulators. Applying either to an onshore CMA broker is incorrect. The table below restates the broker’s published figures against the rulebook position.
| Instrument class | CMA retail maximum | Daman Markets published maximum |
|---|---|---|
| Major currency pairs | 500:1 | 500:1 |
| Minor currency pairs | not ruled | 500:1 |
| Gold | not ruled | 200:1 |
| Major indices | not ruled | 200:1 |
| Minor indices | not ruled | not captured |
| Other commodities | not ruled | 200:1 |
| Single shares | not ruled | 10:1 |
| Cryptocurrency | not ruled | 5:1 |
Leverage limits: CMA rulebook versus Daman Markets published maximums
Platforms and execution
Daman Markets gives you only MetaTrader 5. MT4, cTrader, TradingView, and proprietary platforms are not available. The iOS and Android apps are the generic MetaTrader 5 applications, confirmed present on the UAE App Store and Google Play. The broker describes its execution as straight-through processing (STP) and says it does not act as counterparty, routing your orders to external liquidity providers.
The CMA dealing licence permits acting as counterparty, so there is a contradiction with the marketed STP model. The platform supports over 50 forex pairs; other instrument counts are not stated. Demo accounts are offered with a 1,000-day expiry. No automated trading support, VPS, or API access is mentioned on the site. Funding and withdrawal methods are covered next.
Funding and withdrawals
You can deposit in AED and USD via bank transfer, Visa, Mastercard, Skrill, Neteller, Apple Pay, and Google Pay. No cryptocurrency deposit method is offered. Withdrawals are available through bank transfer, Skrill, Neteller, and credit/debit cards; Apple Pay and Google Pay are deposit-only. You will need to withdraw at least USD 100 via bank transfer, or USD 10 via Skrill, Neteller, and cards.
Processing times: bank transfers up to 2 business days, Skrill and Neteller instant, cards 1-5 business days. The broker does not name a specific UAE bank for local transfers. I find the AED conversion fee ambiguous: the payment table lists AED as directly supported, but the FAQ states only USD deposits avoid conversion. No AED-denominated trading account exists. Emirates ID is not explicitly named in KYC documents, and UAE PASS integration is not found.
Islamic and swap-free accounts
Daman Markets promotes a swap-free option for the DM Classic account only; the DM Pro account is excluded. In my view, this is a marketing claim with no supporting terms document, no Shariah board named, and no certification. The broker’s help centre explains that swap charges are waived on all instruments except a list of 26 excluded symbols, which includes certain forex pairs, commodities, indices, and all cryptocurrencies.
No replacement fee, free period, or administrative charge is stated. The governing documents contain zero references to Islamic, Shariah, or swap-free terms, as our team noted. The Arabic page uses the commercial term “rollover fees” rather than any Shariah language. I would treat this as a fee-waiver request, not a structured Islamic account, if I were a UAE resident. The next section addresses which entity you contract with.
Which entity you contract with
The Daman Markets website presents three different legal names. The footer on every page states DAMAN MARKETS FINANCIAL SERVICES L.L.C, regulated by the CMA under licence 20200000356. The Website Terms and Conditions Policy names Daman Securities LLC, with SCA licence 604020, and defines it as “Daman Markets”. The Client Agreement PDF you can download from the site is an 82-page document from CMS FINANCIAL LLC, a separate CMA-licensed entity.
Reference CP-0001473, supplied for this review, does not appear anywhere on the site. This inconsistency means you cannot determine with certainty which entity you contract with when you open an account. My advice: before depositing, request written confirmation of the legal counterparty.
What this review has not established
Several facts remain unverified. I cannot tell you which exact legal entity you contract with because the broker’s own site gives conflicting names. The spread figures for both account types are not published. The bank used for local AED transfers is not disclosed.
The AED conversion fee, if any, is not quantified and the broker’s own pages contradict each other on whether AED deposits incur conversion. The swap-free arrangement lacks any formal documentation or Shariah oversight. The on-page licence number 20200000356 does not match the supplied register reference CP-0001473, and I would want this discrepancy resolved before I opened an account.
FAQs
Is Daman Markets regulated in the UAE?
Does Daman Markets offer an Islamic account?
Can I trade in AED with Daman Markets?
Does Daman Markets support MetaTrader 4?
What is the maximum leverage at Daman Markets?
About the author
Justin Grossbard co-founded CompareForexBrokers in 2014 and serves as Co-Founder and CEO. He has traded forex since 1998. For this site he directs the research and comparison of UAE-licensed brokers. He holds Monash University degrees including a Bachelor of Commerce with Honours and a Master of Marketing. His commentary has appeared in Forbes, Kiplinger, Finance Magnates and Entrepreneur.