FAQ


  • 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