What is the procedure for opening a Daman trading account?Visit the Daman Securities website and complete the signup (new user) form Visit any of the Daman Securities branches (DWTC, DFM or ADX) Submit the required documents and sign Daman’s account-opening agreement as per ESCA Fill out and sign the national investor number form (NIN) for ADX & DFM Fill out and sign the bank details form that allows investors to register their bank details with the markets to receive their dividends All documents will be forwarded to the operations department in order to activate the trading account once the compliance review has been carried out and approval given.
What are the required documents for opening a trading account?UAE Nationals: Original Passport Family Book Emirates ID Bank Details confirmation or Statement National investor number (NIN) Foreigners: Original Passport Resident Visa page copy Emirates ID Bank Details confirmation or Statement National investor number (NIN)
How long will it take to open a trading account?It takes 15 to 20 minutes if all the documents are completed
What shall I do if my investor number is lost?The Investor shall contact the Market CDS “Clearing and Depository Services” and they will provide the investor number information after verification questions. DFM +9714 305 5555 ADX +9712 627 7777
Is it allowed to open more than one trading account with different brokers at the same time?Yes, it is allowed to open multi-trading accounts with different brokers at the same time and using the same investor number. However, each broker will provide you with a unique trading number.
What are the types of trading account?Individual accounts Corporate accounts Joint accounts (DFM Only) Heirs' Account
What are the trading days & hours of DFM & ADX?Sunday - Thursday Pre-opening session 9:30AM – 10:00AM Trading session 10:00 AM – 1:50PM Closing session timing • ADX 1:50PM – 2:00PM • DFM 1:45PM- 2:00PM
What is the minimum balance or amount to open a trading account?There is no minimum amount or balance to open a trading account.
What are the commission fees and what is the breakdown of the calculation?
Entity Minimum Commission Fees per transaction Broker Commission 30 0.125% 0.00 Market Commission 20 0.05% 10.00 ESCA Commission 5 0.05% 0.00 CDS Commission 10 0.05% 0.00