Fri, December 01, 2023

New Middle Eastern FX/CFDs Broker

Broker News

In a stride to broaden its reach, Daman Securities from the United Arab Emirates has embarked on a new journey by launching Daman Markets. This innovative platform will focus on trading services for over-the-counter margined derivative contracts, such as CFDs and spot foreign exchange, concentrating on serving the Middle East region.

On Tuesday, Daman Securities announced its collaboration with Advanced Markets, a primo prime-of-prime broker. This partnership will leverage the technology and platforms of Advanced Markets to facilitate the new FX and CFDs trading services. Samer Mourched, CEO of Advanced Markets, expressed his delight about the partnership, emphasizing the shared objective of empowering global traders and investors. 

Advanced Markets, headquartered in Charlotte, USA, is known for its Direct Market Access (DMA) trading in spot FX, energy, precious metals, and CFDs. It boasts a list of over 3,000 trading instruments.

Partnership with a Strategic Edge

Established in 1998, Daman Securities is a fully-owned subsidiary of Daman Investments and operates under the regulatory oversight of the Emirates Securities & Commodities Authority. The newly launched services will feature trading on the MetaTrader 5 platform with an extensive range of financial instruments, such as major and exotic currency pairs, commodities, indices, and metals.

Ahmed Khizer Khan, CEO of Daman Investments, acknowledged the collaboration as a significant stride resulting from Daman Securities’ continuous efforts to enrich their offerings. He added that their alliance with the globally acclaimed forex broker will ensure their clients a more comprehensive and frictionless trading experience. The platform has also boosted liquidity by integrating PrimeXM’s XCore and FXCUBIC and is governed by UK and Australian regulators.

Ahmed Waheed, General Manager of Daman Securities, indicated that the association with Advanced Markets is strategic, aligning perfectly with their vision of offering clients diversified trading options, expert insights, and improved digital tools. He confidently added that with the combination of Advanced Markets’ resources and Daman’s local expertise, Daman Markets is well-positioned to emerge as a significant market player.


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