WikiFX

Reply

From my in-depth experience as a forex trader, I have learned to always scrutinize fee structures carefully, especially when considering ECN or raw spread accounts. With Daman Securities, the account information indicates two main types: the DM classic and the DM pro. According to the available data, the DM pro account—which closely resembles what most brokers call an ECN or raw spread account—does in fact charge a commission per trade. This is clearly differentiated from the DM classic account, which operates with wider spreads but without explicit commission charges. However, I must stress several key factors that give me pause. Daman Securities reportedly operates without valid regulatory oversight and is flagged for high potential risk. User reports have also surfaced regarding problems with withdrawals, additional unexpected fees (often labeled as taxes), and poor responsiveness. These issues are highly concerning, especially when real money is at stake. Therefore, while DM pro account holders are subject to per-lot commissions, I would advise extreme caution. The lack of reliable regulation means clients have minimal recourse if disputes arise over fees or withdrawal practices. For me, fee transparency is meaningless without broader trust in the broker’s integrity. In summary, Daman Securities does charge a commission for its DM pro (ECN-like) accounts, but I personally would not commit funds to such an environment without stronger assurances of safety and fair dealing.