The United Arab Emirates' Daman Securities has expanded its market footprint with the launch of a new brand, Daman Markets, which will offer over-the-counter margined derivative contracts, including Contracts for Difference (CFDs) and spot foreign exchange trading. The new platform will focus its services on the Middle East region.

New FX/CFDs Broker in the Middle East

Announced today (Tuesday), Daman Securities tapped the services of Advanced Markets, a prime-of-prime broker, for technology and platforms for the new FX and CFDs trading services.

"We are delighted to partner up with Daman Securities," said Samer Mourched, the CEO of Advanced Markets. "Our robust platform, expert staff, and comprehensive range of products, combined with deep market understanding, create a synergistic partnership. This collaboration aligns perfectly with our mutual goal of empowering traders and investors globally."

Based in Charlotte, USA, Advanced Markets provides direct market access (DMA) trading in spot FX, precious metals, energy, and CFDs, listing over 3,000 trading instruments.

A Strategic Partnership

Daman Securities, a wholly-owned subsidiary of Daman Investments, has been in existence since 1998. It is licensed and regulated by the Emirates Securities & Commodities Authority. Its new offerings will include trading on the MetaTrader 5 platform with a wide range of financial instruments, including major and exotic currency pairs, commodities, indices, metals, and more.

"This partnership comes after Daman Securities diligent efforts to continuously enhance its offerings and provide its clients with the most advanced solutions in the ever-evolving financial landscape," said the CEO of Daman Investments, Ahmed Khizer Khan. "By joining forces with the globally recognized forex broker , Daman Securities aims to provide an even more comprehensive and seamless trading experience."

The platform also enhanced liquidity with the integration of PrimeXM's XCore and FXCUBIC. The platform is regulated by the regulators in the UK and Australia.

Daman Securities' General Manager, Ahmed Waheed, pointed out that the partnership with Advance Markets is "strategic" and "aligns with our vision and strategy to provide our clients with multiple trading options, diversified instruments, expert insights, and enhanced digital tools."

"By utilizing Advanced Markets' resources, combined with our local knowledge and expertise, I am confident that our new entity (Daman Markets) will be a strong player in the market," Waheed added.