Damac Trade
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Operating status: SCAM
Website:
Broker violations and abnormal records
On April 1, 2026, the Swiss Financial Market Supervisory Authority (FINMA) issued a warning against Damac Trade, stating that this broker is not entered in its commercial register. https://www.finma.ch/en/finma-public/warnungen/warning-list/damac-trade-damac-trade_com/
According to its website, it claims to be subject to multiple regulations. Upon investigation, no matching information was found in the Cyprus Securities and Exchange Commission (CySEC), Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI), British Virgin Islands Financial Services Commission (BVI FSC), or Australian Securities and Investments Commission (ASIC). In addition, the Swiss Financial Market Supervisory Authority (FINMA) issued a warning against Damac Trade, stating that this broker is not entered in its commercial register.
In fact, Damac Trade is not regulated by any authority. Therefore, Damac Trade is a scam. 
According to its website, it claims to be subject to multiple regulations. Upon investigation, no matching information was found in the Cyprus Securities and Exchange Commission (CySEC), Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI), British Virgin Islands Financial Services Commission (BVI FSC), or Australian Securities and Investments Commission (ASIC). In addition, the Swiss Financial Market Supervisory Authority (FINMA) issued a warning against Damac Trade, stating that this broker is not entered in its commercial register. In fact, Damac Trade is not regulated by any authority. Therefore, Damac Trade is a scam.
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