Reported as a scam / unregulated
Why DAMAS GROUP is on the register
DAMAS GROUP claims to be a trustable global broker and it was founded in 2010. But when we checked its domain, we found it was created in 2017. So how could it start its business in 2010? It is a red flag here. Besides, DAMAS GROUP presents no details of its regulations but only shows its company address in Canada. As per Canadian law, all forex brokers in Canada shall be regulated by the Investment Industry Regulatory Organization of Canada (IIROC). However, we did not find any match results to DAMAS GROUP in IIROC. That means DAMAS GROUP is not under valid regulation by any regulators. Investor’s funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.